Millikin University
- Assets
- $267.1m
- Revenue
- $103.5m
- Investments
- $0.0
- Employees
- 1,310
- Location
- Decatur, IL
- Founding
- 10/1946
- Data as of
- 06/2022
- EIN
- 37-0706154
Organization Overview
Millikin University is located in Decatur, IL. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Millikin University employed 1,310 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Millikin 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 06/2022, Millikin University generated $103.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $99.4m during the year ending 06/2022. While expenses have increased by 2.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OFFER AN EDUCATION THAT INTEGRATES THE LIBERAL AND PRACTICAL ARTS OF THE PROFESSIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - COST OF ALL INSTRUCTIONAL ACTIVITIES, INCLUDING SCHOLARSHIPS AND GRANTS, FACULTY SALARIES AND FRINGE BENEFITS, CLASSROOM SUPPLIES AND EQUIPMENT, AND OTHER INSTRUCTIONAL EXPENSES.
AUXILIARY EXPENSES - COST OF DINING SERVICES AND RESIDENCE HALL OPERATIONS.
STUDENT SERVICES - COST OF STUDENT DEVELOPMENT OFFICE, ADMISSIONS, REGISTRAR, FINANCIAL AID, CHAPLAIN, CHOIR, BAND, KIRKLAND FINE ARTS CENTER PROGRAMS, AND INTERCOLLEGIATE ATHLETICS. NUMBER OF PERSONS SERVED DURING THE YEAR FOR PROGRAM SERVICES EQUALS APPROXIMATELY 1,949 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Andreas Trustee | Trustee | 1 | $0 |
Tanya Andricks Trustee | Trustee | 1 | $0 |
Randell Blackburn Trustee | Trustee | 1 | $0 |
Ronald Branch Trustee | Trustee | 1 | $0 |
Leonard Brinson Trustee | Trustee | 1 | $0 |
Michael Canty Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Facility Services Campus Grounds/facilities | 6/29/23 | $3,763,733 |
Henson Robinson Co Construction | 6/29/23 | $281,800 |
Steve's Trucking Inc Construction | 6/29/23 | $225,000 |
Aramark Dining Services Campus Dining Services | 6/29/23 | $2,890,652 |
El Pruitt Co Mechanical Contractors Construction | 6/29/23 | $197,566 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,943,879 |
| Investment income | $7,355,430 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,569,828 |
| Net Income from Fundraising Events | -$1,939 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $103,526,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $40,107,689 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,259,897 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,828,922 |
| Pension plan accruals and contributions | $797,188 |
| Other employee benefits | $6,825,845 |
| Payroll taxes | $1,570,530 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $144,533 |
| Fees for services: Other | $142,304 |
| Advertising and promotion | $796,684 |
| Office expenses | $1,528,839 |
| Information technology | $1,291,797 |
| Royalties | $0 |
| Occupancy | $1,700,393 |
| Travel | $1,133,103 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,304,429 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,437,239 |
| Insurance | $267,942 |
| All other expenses | $0 |
| Total functional expenses | $99,372,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,316,696 |
| Savings and temporary cash investments | $10,773,356 |
| Pledges and grants receivable | $2,879,439 |
| Accounts receivable, net | $1,275,873 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,426,850 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $129,799 |
| Investments—publicly traded securities | $80,384,141 |
| Investments—other securities | $0 |
| Investments—program-related | $25,772,707 |
| Intangible assets | $0 |
| Other assets | $9,219,510 |
| Total assets | $267,089,881 |
| Accounts payable and accrued expenses | $3,260,518 |
| Grants payable | $1,223,202 |
| Deferred revenue | $3,413,028 |
| Tax-exempt bond liabilities | $28,700,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $154,342 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,943,856 |
| Total liabilities | $46,694,946 |
| Net assets without donor restrictions | $129,682,905 |
| Net assets with donor restrictions | $90,712,030 |
| 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 | $220,394,935 |