Walsh College Of Accountancy And Business Administration
- Assets
- $60.5m
- Revenue
- $20.9m
- Investments
- $5.7m
- Employees
- 256
- Location
- Troy, MI
- Founding
- 11/1949
- Data as of
- 08/2023
- EIN
- 38-1308480
Organization Overview
Walsh College Of Accountancy And Business Administration is located in Troy, MI. The organization was established in 1949. As of 08/2023, Walsh College Of Accountancy And Business Administration employed 256 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walsh College Of Accountancy And Business Administration 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, Walsh College Of Accountancy And Business Administration generated $20.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $23.4m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES A TRANSFORMATIVE BUSINESS AND TECHNOLOGY EDUCATION THAT COMBINES THEORY, APPLICATION, AND PROFESSIONAL EXPERIENCE TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS.
Describe the Organization's Program Activity:
WALSH PROVIDES A TRANSFORMATIVE BUSINESS AND TECHNOLOGY EDUCATION THAT COMBINES THEORY, APPLICATION, AND PROFESSIONAL EXPERIENCE TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. PROGRAMS INCLUDE HANDS-ON CURRICULUM DELIVERED IN SMALL CLASS SETTINGS, BOTH ON GROUND AND VIRTUALLY, SYNCHRONOUS AND ASYNCHRONOUS, BY ACADEMIC FACULTY WITH REAL-WORLD EXPERIENCE. MORE THAN 1,000 STUDENTS WERE ENROLLED FOR FY 2022-2023.
STUDENT SERVICES WALSH PROVIDES STUDENTS A STRONG NETWORK OF SUPPORT INCLUDING ADMISSIONS AND ACADEMIC ADVISING, FINANCIAL AID, VETERAN SERVICES, STUDENT LIFE, ACADEMIC TUTORING, AND CAREER SERVICES. SUPPORT BEGINS WITH ADMISSIONS ADVISORS AT THE FIRST ADMISSIONS INQUIRY AND CONTINUES BEYOND GRADUATION WITH OUR EXTENSIVE RANGE OF CAREER SERVICES.
SCHOLARSHIPS A VARIETY OF SCHOLARSHIPS ARE AVAILABLE TO INCOMING UNDERGRADUATE AND GRADUATE STUDENTS AND INCLUDE ACADEMIC AWARDS, COMMUNITY COLLEGE EXCELLENCE AWARDS, AND MULTICULTURAL AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Levens Left 422 President & CFO | 40 | $399,762 | |
Thomas Petz Chief Operating Officer | Officer | 40 | $258,223 |
Suzanne Siegle President & CEO | Officer | 40 | $237,100 |
Richard Berschback Faculty | 40 | $215,034 | |
Dave Schippers Chief Academic Officer | Officer | 40 | $220,830 |
Jenny Tatsak Faculty | 40 | $175,341 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Media Genesis Inc Advertising | 8/30/23 | $1,423,920 |
Townsend Search Group Llc Consulting | 8/30/23 | $376,540 |
Amerinet Software | 8/30/23 | $255,437 |
Eab Global Inc Software | 8/30/23 | $185,644 |
Comcast Internet | 8/30/23 | $177,768 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,011,827 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,051 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,060,878 |
| Total Program Service Revenue | $16,719,780 |
| Investment income | $1,150,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $186,712 |
| Net Gain/Loss on Asset Sales | $1,733,486 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,850,965 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $855,167 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $798,264 |
| Compensation of current officers, directors, key employees. | $670,542 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,631,861 |
| Pension plan accruals and contributions | $80,109 |
| Other employee benefits | $2,538,372 |
| Payroll taxes | $866,026 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $159,330 |
| Fees for services: Accounting | $88,281 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,051 |
| Fees for services: Other | $1,456,756 |
| Advertising and promotion | $1,509,963 |
| Office expenses | $454,625 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $488,550 |
| Travel | $84,957 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,156 |
| Interest | $556,211 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,610,642 |
| Insurance | $235,341 |
| All other expenses | $366,233 |
| Total functional expenses | $23,356,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,054,828 |
| Savings and temporary cash investments | $383,400 |
| Pledges and grants receivable | $51,455 |
| Accounts receivable, net | $442,487 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $976,742 |
| Net Land, buildings, and equipment | $24,558,343 |
| Investments—publicly traded securities | $26,239,549 |
| Investments—other securities | $5,727,636 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,112,491 |
| Total assets | $60,546,931 |
| Accounts payable and accrued expenses | $1,634,723 |
| Grants payable | $0 |
| Deferred revenue | $1,182,553 |
| Tax-exempt bond liabilities | $10,967,180 |
| 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 | $1,249,944 |
| Total liabilities | $15,034,400 |
| Net assets without donor restrictions | $44,180,475 |
| Net assets with donor restrictions | $1,332,056 |
| 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 | $60,546,931 |