Herzing University Ltd
- Assets
- $166.1m
- Revenue
- $171.4m
- Investments
- $0.0
- Employees
- 1,782
- Location
- Milwaukee, WI
- Founding
- 08/2015
- Data as of
- 12/2023
- EIN
- 27-1503981
Organization Overview
Herzing University Ltd is located in Milwaukee, WI. The organization was established in 2015. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 12/2023, Herzing University Ltd employed 1,782 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Herzing University Ltd is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Herzing University Ltd generated $171.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $176.4m during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HERZING UNIVERSITY IS A REGIONALLY-ACCREDITED, PRIVATE CAREER UNIVERSITY THAT PROVIDES EDUCATIONAL PROGRAMS AT THE CERTIFICATE, UNDERGRADUATE, AND GRADUATE LEVELS FOR A DIVERSE STUDENT POPULATION IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THE CORPORATE ADMINISTRATIVE OFFICE AND ONLINE OPERATIONS SUPPORT OFFICE ARE LOCATED IN MILWAUKEE, WI WITH A SECONDARY ONLINE OPERATIONS SUPPORT OFFICE IN CHICAGO, IL AND TEN CAMPUSES LOCATED THROUGHOUT THE UNITED STATES. THROUGH QUALITY TEACHING AND LEARNING, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLS NECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO THE PHILOSOPHY OF PUTTING STUDENTS AT THE CENTER OF THE UNIVERSITY MISSION, HERZING UNIVERSITY PREPARES GRADUATES FOR CAREERS IN TECHNOLOGY, BUSINESS, HEALTHCARE, AND PUBLIC SAFETY.
Describe the Organization's Program Activity:
HERZING UNIVERSITY PROVIDES EDUCATIONAL PROGRAMS AT THE CERTIFICATE, UNDERGRADUATE, AND GRADUATE LEVELS FOR A DIVERSE STUDENT POPULATION IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THROUGH QUALITY TEACHING AND LEARNING, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLS NECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO THE PHILOSOPHY OF PUTTING STUDENTS AT THE CENTER OF THE UNIVERSITY MISSION, HERZING UNIVERSITY PREPARES GRADUATES FOR CAREERS IN TECHNOLOGY, BUSINESS, HEALTHCARE, AND PUBLIC SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Hill Trustee | Trustee | 1 | $21,000 |
Mark Ambrosius Trustee | Trustee | 1 | $19,000 |
Joseph Froehlich Trustee/chairperson | OfficerTrustee | 1 | $14,000 |
Erin Hareng Trustee | Trustee | 1 | $11,000 |
Margaret Lee Trustee | Trustee | 1 | $11,000 |
John Lopez Trustee | Trustee | 1 | $11,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Google Inc Advertising | 12/30/23 | $17,359,766 |
Phase 3 Marketing And Communications Advertising | 12/30/23 | $2,680,168 |
Validated Insights Advertising | 12/30/23 | $1,705,446 |
Dwc Construction Company Inc Construction | 12/30/23 | $1,838,323 |
Meta Platforms Inc Advertising | 12/30/23 | $1,571,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,236,125 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,184 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,303,309 |
| Total Program Service Revenue | $168,378,928 |
| Investment income | $1,520,020 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,894,665 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $171,370,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,357,424 |
| Grants and other assistance to Foreign Orgs/Individuals | $34,248 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,790,479 |
| Compensation of current officers, directors, key employees. | $2,790,479 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,401,990 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,233,674 |
| Payroll taxes | $4,805,141 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $545,725 |
| Fees for services: Accounting | $282,525 |
| Fees for services: Lobbying | $214,015 |
| Fees for services: Fundraising | $65,000 |
| Fees for services: Investment Management | $139,773 |
| Fees for services: Other | $12,702,253 |
| Advertising and promotion | $26,168,292 |
| Office expenses | $682,922 |
| Information technology | $622,982 |
| Royalties | $0 |
| Occupancy | $7,539,440 |
| Travel | $1,942,668 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $364,379 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,881,370 |
| Insurance | $762,856 |
| All other expenses | $2,096,577 |
| Total functional expenses | $176,351,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,276,551 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,261,073 |
| Loans from Officers, Directors, or Controlling Persons | $100,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,713,750 |
| Net Land, buildings, and equipment | $29,779,696 |
| Investments—publicly traded securities | $49,815,084 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $41,589,347 |
| Other assets | $26,614,383 |
| Total assets | $166,149,884 |
| Accounts payable and accrued expenses | $17,719,168 |
| Grants payable | $0 |
| Deferred revenue | $2,565,664 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $10,926,784 |
| Other liabilities | $29,042,533 |
| Total liabilities | $60,254,149 |
| Net assets without donor restrictions | $104,970,187 |
| Net assets with donor restrictions | $925,548 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $166,149,884 |