Morningside University
- Assets
- $134.3m
- Revenue
- $70.5m
- Investments
- $27.4m
- Employees
- 1,055
- Location
- Sioux City, IA
- Founding
- 06/1950
- Data as of
- 05/2022
- EIN
- 42-0680400
Organization Overview
Morningside University is located in Sioux City, IA. The organization was established in 1950. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Morningside University employed 1,055 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morningside 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 05/2022, Morningside University generated $70.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $65.3m during the year ending 05/2022. While expenses have increased by 2.6% 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
MORNINGSIDE UNIVERSITY IS A 4 YEAR PRIVATE UNIVERSITY, THAT PROVIDES A LIBERAL ARTS EDUCATION TO FULL AND PART-TIME STUDENTS, INCLUDING CO-CURRICULAR ACTIVITIES (RESIDENCE HALLS, DINING, BOOKSTORE).
Describe the Organization's Program Activity:
PROVIDES GRADUATE AND UNDER GRADUATE CLASSES FOR STUDENTS.
PROVIDES RESIDENCE HALL (LIVING QUARTERS) FOR FULL TIME UNDER GRADUATE STUDENTS.
PROVIDE FOOD SERVICE (CAFETERIA) FOR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Reynders President | Officer | 40 | $324,669 |
Ronald Jorgensen VP Business & Finance | Officer | 40 | $167,887 |
Teri Curry VP Student Life/enrollment | Officer | 40 | $162,946 |
Jacklyn Barber Dean Of Nursing Education | 40 | $145,954 | |
Christopher Spicer VP For Academic Affairs | 40 | $145,178 | |
Stephen Ryan Head Football Coach | 40 | $130,679 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc Food Service | 5/30/22 | $2,596,098 |
Wa Klinger Construction Contractor | 5/30/22 | $838,372 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,048,537 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,613,253 |
| Noncash contributions included in lines 1a–1f | $140,989 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,661,790 |
| Total Program Service Revenue | $54,723,214 |
| Investment income | $1,420,024 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $181,967 |
| Net Gain/Loss on Asset Sales | $1,758,691 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,511,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $24,119,179 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $655,021 |
| Compensation of current officers, directors, key employees. | $655,021 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,006,497 |
| Pension plan accruals and contributions | $593,274 |
| Other employee benefits | $3,570,807 |
| Payroll taxes | $1,250,872 |
| Fees for services: Management | $485,874 |
| Fees for services: Legal | $33,581 |
| Fees for services: Accounting | $68,937 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $260,592 |
| Fees for services: Other | $0 |
| Advertising and promotion | $212,942 |
| Office expenses | $123,561 |
| Information technology | $576,984 |
| Royalties | $0 |
| Occupancy | $1,835,009 |
| Travel | $893,343 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,928 |
| Interest | $866,285 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,924,586 |
| Insurance | $511,025 |
| All other expenses | $1,577,087 |
| Total functional expenses | $65,328,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,247 |
| Savings and temporary cash investments | $1,505,454 |
| Pledges and grants receivable | $1,721,357 |
| Accounts receivable, net | $3,036,154 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,163,324 |
| Inventories for sale or use | $135,514 |
| Prepaid expenses and deferred charges | $41,672 |
| Net Land, buildings, and equipment | $49,471,901 |
| Investments—publicly traded securities | $47,567,107 |
| Investments—other securities | $27,409,319 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,224,524 |
| Total assets | $134,278,573 |
| Accounts payable and accrued expenses | $2,232,578 |
| Grants payable | $0 |
| Deferred revenue | $500,000 |
| Tax-exempt bond liabilities | $24,995,000 |
| Escrow or custodial account liability | $376,437 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $614,527 |
| Other liabilities | $2,740,574 |
| Total liabilities | $31,459,116 |
| Net assets without donor restrictions | $54,748,193 |
| Net assets with donor restrictions | $48,071,264 |
| 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 | $134,278,573 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Morningside University has recieved totaling $503,699.
| Awarding Organization | Amount |
|---|---|
James And Sharon Walker Charitable Foundation Wayzata, MN PURPOSE: EDUCATIONAL | $100,000 |
Michael L And Margie A Bennett Foundation Sioux City, IA PURPOSE: ASSISTANCE TO EDUCATIONAL ACTIVITIES | $100,000 |
Missouri River Historical Develop- Ment Inc Sioux City, IA PURPOSE: SCHOLARSHIPS | $75,000 |
Iowa College Foundation Des Moines, IA PURPOSE: PROVIDE SCHOLARSHIPS | $54,922 |
Mabel E Sherman Educational Fund Storm Lake, IA PURPOSE: STUDENT LOANS | $45,555 |
Organization Name not Listed PURPOSE: UNRESTRICTED | | $30,000 |
Endowment Analysis
| Beg. Balance | $57,259,474 |
| Earnings | -$549,257 |
| Admin Expense | $100,000 |
| Net Contributions | $5,302,041 |
| Other Expense | $1,341,900 |
| Grants | $981,100 |
| Ending Balance | $59,589,258 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concordia College Corporation Moorhead, MN | $403,850,675 | $127,833,637 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
College Of St Scholastica Inc Duluth, MN | $228,173,776 | $117,585,202 |
Lawrence University Of Wisconsin Appleton, WI | $632,228,886 | $124,103,689 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
College Of St Benedict Business Off Saint Joseph, MN | $251,991,111 | $110,041,062 |
St Norbert College Inc De Pere, WI | $336,117,917 | $103,405,590 |
University Of Northwestern-St Paul St Paul, MN | $144,732,947 | $110,000,439 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Coe College Cedar Rapids, IA | $182,564,776 | $91,175,984 |