Cleary University
- Assets
- $42.5m
- Revenue
- $24.2m
- Investments
- $0.0
- Employees
- 259
- Location
- Howell, MI
- Founding
- 10/1934
- Data as of
- 06/2023
- 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 06/2023, Cleary University employed 259 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 06/2023, Cleary University generated $24.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $25.0m during the year ending 06/2023. While expenses have increased by 11.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
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. AT CLEARY UNIVERSITY, OUR COMMITMENT TO ENHANCING THE COLLEGE EXPERIENCE FOR OUR STUDENTS REMAINS FIRST AND FOREMOST. IN 2023, OUR ATHLETICS DEPARTMENT INTRODUCED MEN'S AND WOMEN'S BASKETBALL TO OUR ARRAY OF OFFERED TEAMS, ADDING TO OUR ROSTER OF TEAMS AND OPPORTUNITIES FOR STUDENT-ATHLETES. WE ALSO WELCOMED OUR LARGEST INCOMING CLASS IN THE 140-YEAR HISTORY OF THE UNIVERSITY, A TESTAMENT TO OUR APPEAL AND DEDICATION TO FOSTERING A VIBRANT LEARNING COMMUNITY. MOREOVER, OUR FACULTY AND STAFF'S PROACTIVE EFFORTS RESULTED IN THE ADDITION OF EIGHT NEW CLUBS, PROVIDING AN EXTENSIVE ARRAY OF OPTIONS FOR STUDENT ENGAGEMENT AND ENRICHMENT THROUGHOUT THE ACADEMIC YEAR. THIS PROACTIVE EXPANSION REFLECTS OUR ONGOING DEDICATION TO NURTURING HOLISTIC STUDENT DEVELOPMENT AND CULTIVATING A DYNAMIC CAMPUS ENVIRONMENT THAT FOSTERS GROWTH, EXPLORATION, AND A SENSE OF BELONGING.
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 |
|---|---|---|---|
Name Not Listed Secretary, Nominating & Govern Comm. | OfficerTrustee | 2 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Past Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Family Seat | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Restaurant & Commercial Builders Llc Contractor | 6/29/22 | $400,329 |
Your People 3rd Party Marketing/branding | 6/29/22 | $161,356 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,958 |
| Related organizations | $0 |
| Government grants | $74,318 |
| All other contributions, gifts, grants, and similar amounts not included above | $615,809 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $704,085 |
| Total Program Service Revenue | $23,287,824 |
| Investment income | $2,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $66,000 |
| Net Gain/Loss on Asset Sales | $69,618 |
| Net Income from Fundraising Events | $16,629 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,188,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,583,194 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $755,658 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,299,121 |
| Pension plan accruals and contributions | $141,987 |
| Other employee benefits | $482,733 |
| Payroll taxes | $349,424 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $82,587 |
| Fees for services: Accounting | $75,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,787 |
| Fees for services: Other | $775,210 |
| Advertising and promotion | $317,568 |
| Office expenses | $890,737 |
| Information technology | $52,439 |
| Royalties | $0 |
| Occupancy | $316,301 |
| Travel | $308,588 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,175,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,446,861 |
| Insurance | $175,696 |
| All other expenses | $139,168 |
| Total functional expenses | $24,964,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,354 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,433,422 |
| Accounts receivable, net | $533,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $479,559 |
| Prepaid expenses and deferred charges | $139,441 |
| Net Land, buildings, and equipment | $14,278,590 |
| Investments—publicly traded securities | $277,043 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,243,581 |
| Total assets | $42,514,225 |
| Accounts payable and accrued expenses | $986,108 |
| Grants payable | $0 |
| Deferred revenue | $483,583 |
| 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 | $9,990,142 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,147,945 |
| Total liabilities | $33,607,778 |
| Net assets without donor restrictions | $3,620,469 |
| Net assets with donor restrictions | $5,285,978 |
| 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 | $42,514,225 |