Minerva University
- Assets
- $57.5m
- Revenue
- $49.8m
- Investments
- $921.4k
- Employees
- 593
- Location
- San Francisco, CA
- Founding
- 07/2015
- Data as of
- 06/2023
- EIN
- 46-2589747
Organization Overview
Minerva University is located in San Francisco, CA. The organization was established in 2015. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2023, Minerva University employed 593 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minerva 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, Minerva University generated $49.8m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $32.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
STIMULATING MEANINGFUL INNOVATION BY SUPPORTING THE DEVELOPMENT OF, AND ACCESS TO, TRANSFORMATIVE EDUCATIONAL PROGRAMS; BY WORKING TO IDENTIFY AND SUPPORT THE MOST PROMISING POTENTIAL STUDENTS REGARDLESS OF LOCATION OR CIRCUMSTANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE AFFORDABLE, HIGH QUALITY EDUCATIONAL PROGRAMS LEADING TO AN UNDERGRADUATE DEGREE. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS, AWARDS SCHOLARSHIPS AND OTHER DIRECT AID, PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATE LIVE VIDEO-BASED PLATFORM AND IMMERSIVE RESIDENTIAL SERVICES IN SEVEN GLOBAL LOCATIONS.
OPERATE HIGH QUALITY EDUCATIONAL PROGRAMS LEADING TO A GRADUATE DEGREE. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS AND PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATIVE LIVE VIDEO-BASED PLATFORM.
OPERATE HIGH QUALITY EDUCATIONAL NON-DEGREE PROGRAMS WITH A DURATION OF A FEW WEEKS OR UP TO A YEAR. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS AND PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATE LIVE VIDEO-BASED PLATFORM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Magee President | Officer | 40 | $348,741 |
Vicki Chandler Chief Academic Officer, Provost | Officer | 40 | $299,250 |
Nikolaus Pelka CFO | Officer | 40 | $211,623 |
Therese Cannon Sr. Advisor | Officer | 40 | $214,988 |
Joshua Fost Vice Provost Of Innovation | 40 | $204,667 | |
Junko Green Chief Discovery And Comm. Officer | Officer | 40 | $214,375 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Scheffler Consulting And Investments International Professor | 6/29/23 | $302,928 |
Alexandra Terrana International Professor | 6/29/23 | $179,298 |
Alexis J Diamond International Professor | 6/29/23 | $142,064 |
Stochastic Consulting Pty Ltd-philip Ste International Professor | 6/29/23 | $140,588 |
Engin Volkan International Professor | 6/29/23 | $140,266 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $213,322 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,826,522 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,039,844 |
| Total Program Service Revenue | $16,391,320 |
| Investment income | $302,646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,404 |
| Net Gain/Loss on Asset Sales | $2,604 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,762,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,691,158 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,889,700 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,100,175 |
| Compensation of current officers, directors, key employees. | $963,379 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,635,093 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $582,071 |
| Payroll taxes | $714,013 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $145,632 |
| Fees for services: Accounting | $119,882 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,473,092 |
| Advertising and promotion | $694,507 |
| Office expenses | $219,903 |
| Information technology | $443,722 |
| Royalties | $0 |
| Occupancy | $4,375,748 |
| Travel | $832,885 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $172,120 |
| Insurance | $373,267 |
| All other expenses | $53,387 |
| Total functional expenses | $32,023,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $685,199 |
| Savings and temporary cash investments | $22,898,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,401,085 |
| 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 | $743,606 |
| Net Land, buildings, and equipment | $19,475 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $921,353 |
| Investments—program-related | $0 |
| Intangible assets | $1,618,729 |
| Other assets | $28,250,913 |
| Total assets | $57,538,847 |
| Accounts payable and accrued expenses | $1,234,062 |
| Grants payable | $0 |
| Deferred revenue | $2,762,979 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,634,113 |
| Total liabilities | $32,631,154 |
| Net assets without donor restrictions | $24,907,693 |
| Net assets with donor restrictions | $0 |
| 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 | $57,538,847 |