Cleary University
- Assets
- $22.5m
- Revenue
- $18.8m
- Investments
- $597.6k
- Employees
- 246
- Location
- Howell, MI
- Founding
- 10/1934
- Data as of
- 06/2022
- EIN
- 38-1393841
Organization Overview
Cleary University is located in Howell, MI. The organization was established in 1934. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Cleary University employed 246 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleary 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, Cleary University generated $18.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $20.1m during the year ending 06/2022. While expenses have increased by 9.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A BUSINESS EDUCATION THAT EQUIPS INDIVIDUALS TO DELIVER SUPERIOR SERVICE TO EMPLOYERS AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
INSTRUCTION AND ROOM & BOARD - THE TEACHING OF HIGHER EDUCATION COURSES TO STUDENTS AND ENABLING THEM TO SUSTAIN RESIDENCY ON CAMPUS IN ORDER TO ATTEND CLASSES, ACHIEVE A BACHELOR'S DEGREE AND ENJOY THE FULL COLLEGE EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Barnes Provost | Officer | 50 | $172,692 |
Dr Alan Drimmer President & CEO | Officer | 50 | $151,664 |
Matthew Bennett Senior VP Of Development | Officer | 50 | $135,582 |
Machelle Holanda VP Of Finance | Officer | 50 | $135,154 |
Heather Bateman VP Student Affairs | Officer | 50 | $98,176 |
Edie Reaves Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Your People 3rd Party Marketing/branding | 6/29/22 | $161,356 |
Restaurant & Commercial Builders Llc Contractor | 6/29/22 | $400,329 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $158,500 |
| Related organizations | $0 |
| Government grants | $58,017 |
| All other contributions, gifts, grants, and similar amounts not included above | $291,721 |
| Noncash contributions included in lines 1a–1f | $5,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $508,238 |
| Total Program Service Revenue | $17,848,396 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $93,825 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$20,584 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $388,036 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,817,911 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,288,252 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,057,518 |
| Compensation of current officers, directors, key employees. | $704,428 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,130,985 |
| Pension plan accruals and contributions | $95,407 |
| Other employee benefits | $286,507 |
| Payroll taxes | $341,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,117 |
| Fees for services: Accounting | $52,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $544,215 |
| Advertising and promotion | $44,337 |
| Office expenses | $164,184 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,472,213 |
| Travel | $151,008 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,376 |
| Interest | $429,435 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $816,947 |
| Insurance | $174,432 |
| All other expenses | $175,262 |
| Total functional expenses | $20,071,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,138 |
| Savings and temporary cash investments | $9,250 |
| Pledges and grants receivable | $3,300,942 |
| Accounts receivable, net | $436,085 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $98,740 |
| Prepaid expenses and deferred charges | $207,035 |
| Net Land, buildings, and equipment | $15,310,951 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $597,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,487,400 |
| Total assets | $22,477,133 |
| Accounts payable and accrued expenses | $2,374,867 |
| Grants payable | $0 |
| Deferred revenue | $535,574 |
| 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 | $9,719,854 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,630,295 |
| Net assets without donor restrictions | $6,391,799 |
| Net assets with donor restrictions | $3,455,039 |
| 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 | $22,477,133 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cleary University has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Positive Step Foundation Inc Howell, MI PURPOSE: HIGHER EDUCATION | $2,500 |
Endowment Analysis
| Beg. Balance | $1,871,924 |
| Earnings | -$69,486 |
| Net Contributions | $23,585 |
| Other Expense | $3,000 |
| Ending Balance | $1,823,023 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Franklin College Of Indiana Franklin, IN | $160,839,660 | $64,884,316 |
Ohio Dominican University Columbus, OH | $77,838,919 | $50,128,137 |
Notre Dame College South Euclid, OH | $47,555,171 | $48,168,719 |
Wisconsin Lutheran College Milwaukee, WI | $138,651,339 | $53,572,867 |
Goshen College Inc Goshen, IN | $212,121,347 | $46,777,772 |
Huntington University Inc Huntington, IN | $88,113,397 | $42,138,482 |
University Of Northwestern Ohio Lima, OH | $114,514,487 | $54,604,805 |
Hiram College Hiram, OH | $148,255,931 | $41,168,029 |
Malone University Canton, OH | $68,667,237 | $44,894,843 |
Wilmington College Wilmington, OH | $137,983,559 | $72,527,709 |
Marian University Inc Fond Du Lac, WI | $61,790,484 | $55,352,296 |
Lourdes University Sylvania, OH | $53,479,369 | $38,568,950 |