Westminster University
- Assets
- $228.1m
- Revenue
- $82.9m
- Investments
- $106.6m
- Employees
- 1,155
- Location
- Salt Lake City, UT
- Founding
- 04/1941
- Data as of
- 06/2021
- EIN
- 87-0212470
Organization Overview
Westminster University is located in Salt Lake City, UT. The organization was established in 1941. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Westminster University employed 1,155 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster 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, Westminster University generated $82.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $86.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WESTMINSTER COLLEGE IS A PRIVATE COMPREHENSIVE LIBERAL ARTS COLLEGE IN SALT LAKE CITY, UT OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN LIBERAL ARTS AND PROFESSIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION: 1,022 STUDENTS IN UNDERGRADUATE PROGRAMS AND 334 STUDENTS IN GRADUATE PROGRAMS628 STUDENTS GRADUATED IN THE 2021-2022 ACADEMIC YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bethami Dobkin President | OfficerTrustee | 40 | $553,022 |
Preston Chiaro Chairman | Trustee | 2.6 | $0 |
Catherine Putnam-Netto Vice-Chairman | Trustee | 2.6 | $0 |
Amy Wadsworth Secretary | Trustee | 1.6 | $0 |
William Orchow Treasurer | Trustee | 1.6 | $0 |
Kim T Adamson Trustee | Trustee | 1.6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riverpark Sugarhouse Llc Lease | 6/29/22 | $1,909,994 |
American Mechanical Systems Maintenance & Repair | 6/29/22 | $573,091 |
Prager Co Llc Advisor Services | 6/29/22 | $300,000 |
Robert Ferrilli Llc Is Advisor Services | 6/29/22 | $184,086 |
Moss Adams Llp Audit Services | 6/29/22 | $164,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,942,346 |
| Investment income | $199,508 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $357 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,034,755 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $82,856,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $30,332,094 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,172 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,580,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,444,427 |
| Pension plan accruals and contributions | $631,751 |
| Other employee benefits | $5,433,156 |
| Payroll taxes | $2,045,225 |
| Fees for services: Management | $8,780 |
| Fees for services: Legal | $153,992 |
| Fees for services: Accounting | $120,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,173,163 |
| Advertising and promotion | $147,376 |
| Office expenses | $2,514,056 |
| Information technology | $1,182,751 |
| Royalties | $2,760 |
| Occupancy | $1,506,436 |
| Travel | $398,061 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,799 |
| Interest | $2,276,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,428,205 |
| Insurance | $637,808 |
| All other expenses | $0 |
| Total functional expenses | $86,044,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,419,550 |
| Pledges and grants receivable | $10,687,224 |
| Accounts receivable, net | $1,733,990 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,045,770 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,266,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $106,627,858 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,867,277 |
| Total assets | $228,140,724 |
| Accounts payable and accrued expenses | $4,836,639 |
| Grants payable | $0 |
| Deferred revenue | $1,309,084 |
| Tax-exempt bond liabilities | $18,376,986 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $194,559 |
| Unsecured mortgages and notes payable | $6,762,900 |
| Other liabilities | $16,306,303 |
| Total liabilities | $47,786,471 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $180,354,253 |