Kettering University
- Assets
- $281.5m
- Revenue
- $82.4m
- Investments
- $49.1m
- Employees
- 900
- Location
- Flint, MI
- Founding
- 05/1982
- Data as of
- 06/2021
- EIN
- 38-2410852
Organization Overview
Kettering University is located in Flint, MI. The organization was established in 1982. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Kettering University employed 900 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kettering 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 06/2021, Kettering University generated $82.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $65.4m during the year ending 06/2021. While expenses have increased by 1.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
KETTERING UNIVERSITY PREPARES STUDENTS FOR LIVES OF EXTRAORDINARY LEADERSHIP AND SERVICE BY LINKING TRANSFORMATIVE EXPERIENTIAL LEARNING OPPORTUNITIES TO RIGOROUS ACADEMIC PROGRAMS IN ENGINEERING, SCIENCE, MATHEMATICS, AND BUSINESS. FOUNDED IN 1919 BY A GROUP OF FLINT LEADERS WITH A VISION FOR TRANSFORMING THE AUTOMOBILE INDUSTRY, KETTERING UNIVERSITY TODAY OFFERS 14 UNDERGRADUATE DEGREES, 7 GRADUATE DEGREES, AND A VARIETY OF CONCENTRATIONS AND MINORS THAT ALLOW IT TO DELIVER AN EDUCATION THAT COUPLES THEORY AND PRACTICE BETTER THAN ANY OTHER INSTITUTION IN THE WORLD. THE UNIVERSITY IS DEDICATED TO ACHIEVING THE EXTRAORDINARY THROUGH TECHNOLOGICAL INNOVATION, LEADERSHIP AND SERVICE. THROUGH GROWTH, GLOBAL LEADERSHIP, COMMUNITY OUTREACH AND AN ENGAGED COMMUNITY OF STAKEHOLDERS THE UNIVERSITY STRIVES TO FULFILL ITS MISSION. THE UNIVERSITY'S ACTIONS ARE IMBUED BY A SET OF VALUES THAT FOSTER RESPECT, INTEGRITY, CREATIVITY, COLLABORATION AND EXCELLENCE.
Describe the Organization's Program Activity:
UNDERGRADUATE INSTRUCTION. DELIVERED 58,526 UNDERGRADUATE STUDENT CREDIT HOURS OF INSTRUCTION (ONE STUDENT CREDIT HOUR REPRESENTS 10 HOURS OF INSTRUCTION FOR ONE STUDENT). AWARDED 428 BACCALAUREATE DEGREES IN 14 DIFFERENT PROGRAMS.
GRADUATE INSTRUCTION. DELIVERED 6,556 GRADUATE STUDENT CREDIT HOURS OF INSTRUCTION (ONE STUDENT CREDIT HOUR REPRESENTS 10 HOURS OF INSTRUCTION FOR ONE STUDENT). AWARDED 202 MASTER'S DEGREES IN 8 DIFFERENT PROGRAMS.
JULY 1, 2020 TO DEC 31, 2020: THIS SUBAWARD IS ISSUED BY THE MI-SBDC LEAD CENTER AT GRAND VALLEY STATE UNIVERSITY FOR THE PERFORMANCE FOR A SCOPE OF WORK ORIGINALLY AWARDED TO THE PRIME RECIPIENT. GVSU IS THE PRIME RECIPIENT OF THE US SMALL BUSINESS ADMINISTRATION (SBA) SMALL BUSINESS DEVELOPMENT CENTER COOPERATIVE AGREEMENT TO ESTABLISH A STATEWIDE NETWORK OF A STATE LEAD CENTER AND SBDC REGIONAL CENTERS. THE REGIONAL CENTER HOUSED AT KETTERING DEVELOPS AND MAINTAINS A COMPREHENSIVE SMALL BUSINESS ASSISTANCE PROGRAM THAT PROVIDES CONSULTING, TRAINING AND RESEARCH SERVICES TO PROMOTE BUSINESS START-UP, INNOVATION AND EXPANSION. ECONOMIC IMPACT SUCCESS IN THIS TIME FRAME: 30 NEW BUSINESS STARTS, 101 NEW JOBS, 605 JOBS RETAINED, $11,713,389 IN CAPITAL FORMATION, $852,523 IN INCREASED SALES, AND NO FACE-TO-FACE ATTENDEE TRAINING DUE TO THE COVID PANDEMIC. ALL TRAINING WAS CONDUCTED THROUGH WEBINARS AT A STATEWIDE LEVEL DUE TO THE COVID PANDEMIC. JAN 1, 2021 TO JUNE 30, 2021: THIS SUBAWARD IS ISSUED BY THE MI-SBDC LEAD CENTER AT GRAND VALLEY STATE UNIVERSITY FOR THE PERFORMANCE FOR A SCOPE OF WORK ORIGINALLY AWARDED TO THE PRIME RECIPIENT. GVSU IS THE PRIME RECIPIENT OF THE US SMALL BUSINESS ADMINISTRATION (SBA) SMALL BUSINESS DEVELOPMENT CENTER COOPERATIVE AGREEMENT TO ESTABLISH A STATEWIDE NETWORK OF A STATE LEAD CENTER AND SBDC REGIONAL CENTERS. THE REGIONAL CENTER HOUSED AT KETTERING DEVELOPS AND MAINTAINS A COMPREHENSIVE SMALL BUSINESS ASSISTANCE PROGRAM THAT PROVIDES CONSULTING, TRAINING AND RESEARCH SERVICES TO PROMOTE BUSINESS START-UP, INNOVATION AND EXPANSION. ECONOMIC IMPACT SUCCESS IN THIS TIME FRAME: 40 NEW BUSINESS STARTS, 534 NEW JOBS, 698 JOBS RETAINED, $15,300,563 IN CAPITAL FORMATION, $0 IN INCREASED SALES, AND NO FACE-TO-FACE ATTENDEE TRAINING DUE TO THE COVID PANDEMIC. ALL TRAINING WAS CONDUCTED THROUGH WEBINARS AT A STATEWIDE LEVEL DUE TO THE COVID PANDEMIC.
ALL OTHER PROGRAM SERVICES INCLUDES ACADEMIC SUPPORT, STUDENT SERVICES, INSTITUTIONAL SERVICES, AND AUXILIARY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert K Mcmahan President | OfficerTrustee | 80 | $717,043 |
James Zhang Provost | Officer | 55 | $292,860 |
Thomas W Ayers Treasurer | Officer | 55 | $277,120 |
Susan Davies VP University Advancement & External Relations | Officer | 55 | $254,109 |
Cornelius Darcy VP Marketing, Communication & Enrollment | Officer | 55 | $238,666 |
Christine Wallace Vice President Kettering Global | Officer | 55 | $217,159 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ruffalo Noel Levitz Marketing Services | 6/29/21 | $452,542 |
Targetx Crm Services | 6/29/21 | $147,200 |
Keypath Education Llc Recruitment Services | 6/29/21 | $2,428,564 |
Duffey Petrosky & Company Marketing Services | 6/29/21 | $366,950 |
Plante Moran Pllc Audit And Tax Services | 6/29/21 | $100,460 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,309,234 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,925,167 |
| Noncash contributions included in lines 1a–1f | $3,327,877 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,234,401 |
| Total Program Service Revenue | $52,326,283 |
| Investment income | $3,205,722 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $51,795 |
| Net Gain/Loss on Asset Sales | $1,538,278 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,356,479 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,993,405 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,072,157 |
| Compensation of current officers, directors, key employees. | $1,662,239 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,980,705 |
| Pension plan accruals and contributions | $2,264,593 |
| Other employee benefits | $5,221,078 |
| Payroll taxes | $2,109,072 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $105,527 |
| Fees for services: Accounting | $145,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $125,000 |
| Fees for services: Other | $7,788,806 |
| Advertising and promotion | $97,277 |
| Office expenses | $1,704,907 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,264,766 |
| Travel | $40,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,078 |
| Interest | $508,750 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,374,335 |
| Insurance | $375,607 |
| All other expenses | $281,477 |
| Total functional expenses | $65,408,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $35,716,760 |
| Pledges and grants receivable | $2,250,402 |
| Accounts receivable, net | $1,583,923 |
| 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 | $1,635,980 |
| Net Land, buildings, and equipment | $114,114,668 |
| Investments—publicly traded securities | $77,047,766 |
| Investments—other securities | $49,090,341 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,388 |
| Total assets | $281,450,228 |
| Accounts payable and accrued expenses | $4,513,396 |
| Grants payable | $0 |
| Deferred revenue | $1,772,431 |
| Tax-exempt bond liabilities | $39,485,337 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $86,363 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,786,383 |
| Total liabilities | $49,643,910 |
| Net assets without donor restrictions | $93,076,432 |
| Net assets with donor restrictions | $138,729,886 |
| 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 | $281,450,228 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kettering University has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Terrence S Kaiser And Barbara A Kaiser Foundation Millington, MI PURPOSE: SCHOLARSHIP | $1,500 |
Hollingsworth Logistics Group Foundation Dearborn, MI PURPOSE: SCHOLARSHIPS | $1,500 |
Endowment Analysis
| Beg. Balance | $88,333,064 |
| Earnings | $22,908,027 |
| Admin Expense | $125,000 |
| Net Contributions | $3,600,068 |
| Other Expense | $1,813,254 |
| Grants | $1,950,019 |
| Ending Balance | $110,952,886 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Michigan University Homer Stryker M D School Of Medicine Kalamazoo, MI | $424,470,919 | $396,749,999 |
Kettering University Flint, MI | $281,450,228 | $82,356,479 |
Thomas M Cooley Law School Lansing, MI | $152,371,660 | $35,841,498 |
Baker College Flint, MI | $13,078,843 | $33,232,892 |
Mount Carmel College Of Nursing Columbus, OH | $64,622,852 | $25,045,878 |
Michigan Association Of Intermediate School Administrators Lansing, MI | $1,736,500 | $28,905,123 |
Cleveland Institute Of Music Cleveland, OH | $89,548,246 | $30,049,400 |
Good Samaritan College Of Nursing And Health Science Cincinnati, OH | $6,845,010 | $5,407,521 |
Methodist Theological School In Ohio Delaware, OH | $73,405,314 | $12,096,173 |
Aileron Corp Tipp City, OH | $4,807,559 | $7,299,167 |
Michigan School Of Psychology Farmington Hills, MI | $11,594,534 | $6,562,014 |
Graduate School Of Banking Inc Madison, WI | $1,229,337 | $3,378,911 |