Malone University
- Assets
- $68.7m
- Revenue
- $44.9m
- Investments
- $0.0
- Employees
- 761
- Location
- Canton, OH
- Founding
- 12/1958
- Data as of
- 06/2021
- EIN
- 34-0737794
Organization Overview
Malone University is located in Canton, OH. The organization was established in 1958. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Malone University employed 761 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Malone University 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 06/2021, Malone University generated $44.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $43.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE UNIVERSITY IS COMMITTED TO INTELLECTUAL ENRICHMENT IN THE CONTEXT OF CHRISTIAN FAITH THAT PRODUCES GRADUATES WITH A LOVE OF TRUTH AND MATURE FAITH.
Describe the Organization's Program Activity:
TRADITIONAL UNDERGRADUATE - MALONE'S CHRISTIAN LIBERAL ARTS APPROACH IS WIDELY RECOGNIZED TODAY AS PRODUCING EXCEPTIONAL GRADUATES PREPARED FOR ALL ASPECTS OF LIFE. OUR INTENT IS THAT STUDENTS ATTAIN THE WISDOM, KNOWLEDGE, AND SKILLS NECESSARY TO SERVE, ENGAGE, AND TRANSFORM THE COMMUNITIES IN WHICH THEY LIVE AND WORK. UNDERGRADUATE EDUCATIONAL GOALS ARE: (1) UNDERSTAND AND CRITICALLY ENGAGE THOSE BODIES OF KNOWLEDGE AND CULTURAL INFLUENCES THAT HAVE SHAPED THE WORLD; (2) UNDERSTAND THE BIBLICAL, HISTORICAL, AND THEOLOGICAL FOUNDATIONS OF THE CHRISTIAN FAITH; (3) THINK CRITICALLY AND CREATIVELY AND COMMUNICATE EFFECTIVELY IN MULTIPLE CONTEXTS; (4) ATTAIN EXPERTISE IN AT LEAST ONE PROFESSION OR ACADEMIC DISCIPLINE AND LAY THE FOUNDATION FOR MEANINGFUL WORK OR FURTHER STUDIES AT THE GRADUATE LEVEL; AND (5) EXPLORE THE IMPLICATION OF THE CHRISTIAN FAITH FOR ALL AREAS OF LIVING, INCLUDING INTELLECTUAL, SPIRITUAL, AND COMMUNITY PURSUITS. THE UNIVERSITY IS COMPRISED OF ONE COLLEGE AND THREE SCHOOLS, OFFERING 45 UNDERGRADUATE MAJORS, 38 MINORS, AND 7 PRE-PROFESSIONAL PROGRAMS. FALL 2020 TRADITIONAL UNDERGRADUATE FTE ENROLLMENT WAS 873.4, WITH A STUDENT TO FACULTY RATIO OF 13.2 TO 1. RESIDENT HEADCOUNT WAS 535 AND COMMUTER HEADCOUNT WAS 588.
NON-TRADITIONAL UNDERGRADUATE: CONTINUING STUDIES - MALONE UNIVERSITY OFFERS TWO DEGREE COMPLETION OPTIONS TO ADULT LEARNERS WITH PRIOR UNDERGRADUATE COURSEWORK: MGMT (MALONE MANAGEMENT PROGRAM), AND BSNDC (BACHELOR OF SCIENCE IN NURSING DEGREE COMPLETION). STUDENTS ARE ABLE TO COMPLETE THEIR DEGREES IN AS LITTLE AS 14 MONTHS. MMP - TWO MAJORS WERE OFFERED: (1) ORGANIZATIONAL MANAGEMENT, PREPARES FOR ACTIVE LEADERSHIP ROLES IN CORPORATE, GOVERNMENT, AND NON-PROFIT ENVIRONMENTS; (2) HEALTH SERVICE MANAGEMENT, GAIN AN IN-DEPTH UNDERSTANDING OF HEALTH CARE SYSTEMS, LEGAL ISSUES RELATED TO CARE AND CONSUMER HEALTH CHOICES. FALL 2020 MGMT FTE ENROLLMENT WAS 27.7; HEADCOUNT WAS 35. BSNDC - REGISTERED NURSES WITH A NURSING DIPLOMA OR ASSOCIATE DEGREE CAN EARN THEIR BSN DEGREE. MALONE NURSING DEGREES ARE ESTEEMED FOR PROVIDING THE KNOWLEDGE, SKILLS, AND COMPASSION NEEDED TO DELIVER EXCEPTIONAL CARE AND INSPIRED LEADERSHIP. FALL 2020 BSNDC FTE ENROLLMENT WAS 9.8; HEADCOUNT WAS 12.
GRADUATE STUDIES - MALONE UNIVERSITY HAS DEVELOPED GRADUATE PROGRAM AND WORKSHOPS TO MEET THE NEEDS OF PROFESSIONALS DESIRING TO ADVANCE THEIR KNOWLEDGE AND SKILLS IN A FAITH-BASED ENVIRONMENT. THE FOLLOWING AREAS OF STUDY ARE OFFERED: BUSINESS ADMINISTRATION (MBA), SCHOOL COUNSELING (MAED), NURSING (MSN), CLINICAL MENTAL HEALTH COUNSELING (MAED), AND ORGANIZATIONAL LEADERSHIP (MAOL). FALL 2020 GRADUATE FTE ENROLLMENT WAS 259.9; HEADCOUNT WAS 349. IN ADDITION, MALONE UNIVERSITY OFFERS OPTIONS FOR EDUCATION AND BUSINESS PROFESSIONAL DEVELOPMENT THROUGH WORKSHOPS AND CERTIFICATE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David King President | OfficerTrustee | 50 | $335,770 |
Katie Robbins VP Finance/business Affairs | Officer | 50 | $129,270 |
Tim Bryan VP Marketing & Communications | Officer | 50 | $121,568 |
Patrick Roberts VP Advancement | Officer | 50 | $116,368 |
Greg Miller Provost | Officer | 50 | $104,998 |
Jennifer Bilek Left 621 VP Human Resources/community | Officer | 50 | $72,822 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiley Edu Llc Student Recruitment | 6/29/21 | $1,462,529 |
Avi Foodsystems Inc Food Services | 6/29/21 | $2,488,370 |
Ruffalo Noel Levitz Enrollment Services | 6/29/21 | $368,988 |
David W Bloor Construction Service | 6/29/21 | $394,614 |
Tree Of Life Bookstore Inc Bookstore | 6/29/21 | $487,278 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,573,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,042,511 |
| Noncash contributions included in lines 1a–1f | $126,762 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,616,291 |
| Total Program Service Revenue | $36,784,950 |
| Investment income | $438,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,892 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $57,381 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,894,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,586,376 |
| Grants and other assistance to Foreign Orgs/Individuals | $15,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $987,135 |
| Compensation of current officers, directors, key employees. | $667,148 |
| Compensation to disqualified persons | $76,303 |
| Other salaries and wages | $10,125,327 |
| Pension plan accruals and contributions | $66,461 |
| Other employee benefits | $2,698,359 |
| Payroll taxes | $662,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,508 |
| Fees for services: Accounting | $55,093 |
| Fees for services: Lobbying | $54,410 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,436 |
| Fees for services: Other | $1,486,533 |
| Advertising and promotion | $868,024 |
| Office expenses | $276,619 |
| Information technology | $946,650 |
| Royalties | $0 |
| Occupancy | $1,164,487 |
| Travel | $332,055 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,188 |
| Interest | $741,607 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,226,734 |
| Insurance | $167,711 |
| All other expenses | $0 |
| Total functional expenses | $43,172,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,000 |
| Savings and temporary cash investments | $6,452,355 |
| Pledges and grants receivable | $1,203,871 |
| Accounts receivable, net | $1,187,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,030,935 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,402,468 |
| Net Land, buildings, and equipment | $38,180,929 |
| Investments—publicly traded securities | $17,580,905 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,619,313 |
| Total assets | $68,667,237 |
| Accounts payable and accrued expenses | $2,335,057 |
| Grants payable | $0 |
| Deferred revenue | $3,751,917 |
| 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 | $10,941,508 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,223,614 |
| Total liabilities | $19,252,096 |
| Net assets without donor restrictions | $18,392,374 |
| Net assets with donor restrictions | $31,022,767 |
| 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 | $68,667,237 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Malone University has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
F W Albrecht Family Foundation Akron, OH PURPOSE: SCHOLARSHIP | $3,000 |
Endowment Analysis
| Beg. Balance | $21,131,674 |
| Earnings | $4,693,065 |
| Admin Expense | $46,411 |
| Net Contributions | $373,805 |
| Other Expense | $355,743 |
| Grants | $577,611 |
| Ending Balance | $25,218,779 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Albion College Albion, MI | $280,606,342 | $106,439,083 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Ohio Wesleyan University Delaware, OH | $522,945,081 | $119,149,215 |
Trine University Inc Angola, IN | $221,741,150 | $121,889,140 |
Kalamazoo College Kalamazoo, MI | $383,146,506 | $96,754,584 |
Saint Marys College Notre Dame, IN | $523,384,557 | $143,002,673 |
Lebanon Valley College Annville, PA | $214,348,628 | $104,612,783 |
Taylor University Upland, IN | $297,240,119 | $122,251,609 |
Seton Hill University Greensburg, PA | $189,465,294 | $99,847,300 |
Wittenberg College Board Of Directors Springfield, OH | $198,135,859 | $89,178,248 |
Juniata College Huntingdon, PA | $246,892,473 | $100,031,718 |