Midwestern University
- Assets
- $1.7b
- Revenue
- $501.5m
- Investments
- $58.9m
- Employees
- 3,853
- Location
- Downers Grove, IL
- Founding
- 09/1996
- Data as of
- 06/2021
- EIN
- 36-3377698
Organization Overview
Midwestern University is located in Downers Grove, IL. The organization was established in 1996. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2022, Midwestern University employed 3,853 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwestern 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, Midwestern University generated $501.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $364.3m during the year ending 06/2021. While expenses have increased by 2.9% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MIDWESTERN UNIVERSITY DEDICATES THE INSTITUTION AND ITS RESOURCES TO THE HIGHEST STANDARDS OF ACADEMIC EXCELLENCE TO MEET THE EDUCATIONAL NEEDS OF THE HEALTH CARE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2022, MIDWESTERN UNIVERSITY PROVIDED HEALTH SCIENCES EDUCATION SERVICES TO APPROXIMATELY 6,759 PRE-DOCTORAL STUDENTS AND 18 POST-DOCTORAL STUDENTS. THESE STUDENT SERVICES ARE LOCATED ON THREE CAMPUSES, TWO IN ILLINOIS AND ONE IN ARIZONA. MIDWESTERN UNIVERSITY OFFERS HEALTH EDUCATION PROGRAMS IN MEDICINE, PHARMACY, PHYSICIAN ASSISTANCE, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, BIOMEDICAL SCIENCES, PODIATRY, CLINICAL PSYCHOLOGY, PERFUSION SERVICES, NURSE ANESTHETIST, DENTISTRY, OPTOMETRY, VETERINARY MEDICINE, SPEECH LANGUAGE PATHOLOGY, AND GRADUATE EDUCATION PROGRAMS IN MEDICINE, AS WELL AS CONTINUING EDUCATION FOR STAFF AND ALUMNI. MIDWESTERN UNIVERSITY CONTINUED ITS RESEARCH AND TRAINING PROGRAMS WITH THE SUPPORT OF FEDERAL AND PRIVATE FUNDING. MIDWESTERN UNIVERSITY CLINICS VALUE OF DISCOUNTED CARE PROVIDED $23,414,000 VALUE OF FREE CARE PROVIDED $2,034,000 THE MIDWESTERN UNIVERSITY CLINICS OPERATED AT THE ARIZONA AND/OR THE ILLINOIS CAMPUSES INCLUDE DENTAL INSTITUTES, EYE INSTITUTES, MULTISPECIALTY PRACTICES, THERAPY INSTITUTE, AND ANIMAL HEALTH INSTITUTE DESIGNED TO PROVIDE CLINICAL TEACHING SITES AND MEET A WIDE-RANGE OF HEALTHCARE NEEDS OF AREA PATIENTS. IN ACCORDANCE WITH THE UNIVERSITY'S ACADEMIC MISSION, THE FEE SCHEDULES AT THE TWO DENTAL INSTITUTES HAVE BEEN REDUCED TO APPROXIMATELY 50% OR MORE OF USUAL AND CUSTOMARY CHARGES. AS A RESULT, DURING FISCAL YEAR ENDED JUNE 30, 2022, MWU PATIENTS PAID $23,414,000 LESS IN PATIENT SERVICE FEES THAN THEY WOULD HAVE HAD MWU CHARGED USUAL AND CUSTOMARY FEES. ALSO, THE UNIVERSITY HAS A DISCOUNT PROGRAM WHEREBY LOW INCOME INDIVIDUALS CAN APPLY FOR FREE CARE AT MWU CLINICS BASED ON THE FEDERAL POVERTY GUIDELINES. THE TOTAL DISCOUNTS IN FISCAL YEAR ENDED JUNE 30, 2022 WERE $1,067,000 AT STATED PATIENT SERVICE CHARGES. HAD MWU CHARGED USUAL AND CUSTOMARY FEES, THE VALUE OF THE DISCOUNTS WOULD HAVE BEEN $2,034,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed CFO & Senior VP (thru 07/31/2021), Trustee (as Of 12/7/2021) | OfficerTrustee | 40 | $1,093,811 |
Name Not Listed Vice Chairperson/trustee | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary/treasurer/trustee | OfficerTrustee | 1 | $0 |
Name Not Listed President/ceo/trustee | OfficerTrustee | 40 | $1,758,242 |
Name Not Listed Chairperson/trustee | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chanen Construction General Contractor | 6/29/22 | $12,933,294 |
Ebsco E-library Services | 6/29/22 | $2,218,521 |
Building Services Of America Janitorial Services | 6/29/22 | $1,412,597 |
Metro Cleaning Company Janitorial Services | 6/29/22 | $3,560,354 |
Sentinel Technologies Inc Information Technology Soulutions Services & Support | 6/29/22 | $1,372,073 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,288,854 |
| Investment income | $6,558,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,326,132 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $501,547,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $6,025,321 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,700,057 |
| Compensation to disqualified persons | $38,871 |
| Other salaries and wages | $178,263,384 |
| Pension plan accruals and contributions | $15,299,749 |
| Other employee benefits | $23,460,257 |
| Payroll taxes | $11,178,261 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $771,386 |
| Fees for services: Accounting | $646,025 |
| Fees for services: Lobbying | $271,766 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,202,538 |
| Fees for services: Other | $12,038,615 |
| Advertising and promotion | $600,943 |
| Office expenses | $22,685,959 |
| Information technology | $2,579,330 |
| Royalties | $0 |
| Occupancy | $6,638,850 |
| Travel | $825,256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $304,677 |
| Interest | $2,806,195 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,648,946 |
| Insurance | $4,255,858 |
| All other expenses | $0 |
| Total functional expenses | $364,341,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,303,683 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $745,253 |
| Accounts receivable, net | $7,386,102 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,343,966 |
| Prepaid expenses and deferred charges | $5,582,213 |
| Investments—publicly traded securities | $781,472,237 |
| Investments—other securities | $58,891,126 |
| Investments—program-related | $33,072,389 |
| Intangible assets | $0 |
| Other assets | $25,831,298 |
| Total assets | $1,723,437,982 |
| Accounts payable and accrued expenses | $49,097,316 |
| Grants payable | $1,165,252 |
| Deferred revenue | $53,634,567 |
| Tax-exempt bond liabilities | $157,489,715 |
| 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 | $0 |
| Other liabilities | $46,042,885 |
| Total liabilities | $307,429,735 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,416,008,247 |