Higher Learning Commission
- Assets
- $31.8m
- Revenue
- $16.7m
- Investments
- $62.4k
- Employees
- 61
- Location
- Chicago, IL
- Founding
- 06/2001
- Data as of
- 08/2023
- EIN
- 36-4405660
Organization Overview
Higher Learning Commission is located in Chicago, IL. The organization was established in 2001. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 08/2023, Higher Learning Commission employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Higher Learning Commission 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 08/2023, Higher Learning Commission generated $16.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $16.9m during the year ending 08/2023. While expenses have increased by 2.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND MAINTAIN HIGH STANDARDS OF EDUCATION FOR UNIVERSITIES AND COLLEGES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCREDIT POST-SECONDARY INSTITUTIONS OF HIGHER EDUCATION
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jo Alice Blondin Board Chair | Trustee | 1.5 | $0 |
Mr Richard L Dunsworth Board Vice Chair | Trustee | 1.5 | $0 |
Mr Donald M Elliman Jr Treasurer | Trustee | 1.5 | $0 |
Dr Daniel Abebe Board Member | Trustee | 1.5 | $0 |
Mr Michael L Belter Board Member | Trustee | 1.5 | $0 |
Dr Rita Hartung Cheng Board Member | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $15,365,582 |
| Investment income | $509,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $789,322 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,664,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $844,795 |
| Compensation of current officers, directors, key employees. | $556,165 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,971,667 |
| Pension plan accruals and contributions | $589,539 |
| Other employee benefits | $1,379,751 |
| Payroll taxes | $471,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,712 |
| Fees for services: Accounting | $27,410 |
| Fees for services: Lobbying | $42,392 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $110,117 |
| Fees for services: Other | $569,613 |
| Advertising and promotion | $0 |
| Office expenses | $502,168 |
| Information technology | $545,637 |
| Royalties | $0 |
| Occupancy | $553,632 |
| Travel | $75,908 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,149,672 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $581,696 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $16,933,289 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $961,787 |
| Savings and temporary cash investments | $24,192,116 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $997,334 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,119 |
| Prepaid expenses and deferred charges | $411,860 |
| Net Land, buildings, and equipment | $2,116,115 |
| Investments—publicly traded securities | $1,359,503 |
| Investments—other securities | $62,356 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,676,473 |
| Total assets | $31,784,663 |
| Accounts payable and accrued expenses | $553,602 |
| Grants payable | $0 |
| Deferred revenue | $6,626,854 |
| 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 | $0 |
| Other liabilities | $2,799,221 |
| Total liabilities | $9,979,677 |
| Net assets without donor restrictions | $21,804,986 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $31,784,663 |