Samuel Merritt University
- Assets
- $325.1m
- Revenue
- $118.5m
- Investments
- $0.0
- Employees
- 833
- Location
- Oakland, CA
- Founding
- 05/1986
- Data as of
- 12/2021
- EIN
- 94-2992642
Organization Overview
Samuel Merritt University is located in Oakland, CA. The organization was established in 1986. 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 12/2021, Samuel Merritt University employed 833 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Samuel Merritt 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 12/2021, Samuel Merritt University generated $118.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $94.9m during the year ending 12/2021. While expenses have increased by 5.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ching-Hua Wang Regent/president | OfficerTrustee | 40 | $712,441 |
Fred Baldini Provost, VP Academic Affairs | Officer | 40 | $389,885 |
Al Frisone VP University Advan. & Comm. | Officer | 40 | $359,361 |
Greg Gingras VP Finance/cfo Smu | Officer | 40 | $341,559 |
Timothy Cranford VP Student Affairs | Officer | 40 | $315,552 |
Joseph J Janakes Program Director | 40 | $301,177 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Quest Media And Supplies Inc It Services | 12/30/21 | $829,964 |
Iworkglobal Llc Temporary Agency | 12/30/21 | $726,047 |
Perkins And Will Inc Design Practice | 12/30/21 | $723,827 |
Universal Protection Svc Lp Security Service | 12/30/21 | $545,214 |
Elsevier Inc Academic Consultants | 12/30/21 | $503,570 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,000 |
| Government grants | $3,185,299 |
| All other contributions, gifts, grants, and similar amounts not included above | $761,262 |
| Noncash contributions included in lines 1a–1f | $2,230 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,951,561 |
| Total Program Service Revenue | $87,456,007 |
| Investment income | $3,921,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $200 |
| Net Gain/Loss on Asset Sales | $21,590,779 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,517,115 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,430,256 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,753,664 |
| Compensation of current officers, directors, key employees. | $2,753,664 |
| Compensation to disqualified persons | $212,990 |
| Other salaries and wages | $39,727,604 |
| Pension plan accruals and contributions | $2,377,134 |
| Other employee benefits | $2,205,804 |
| Payroll taxes | $9,027,897 |
| Fees for services: Management | $269,911 |
| Fees for services: Legal | $316,839 |
| Fees for services: Accounting | $192,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $187,722 |
| Fees for services: Other | $1,259,682 |
| Advertising and promotion | $69,304 |
| Office expenses | $2,356,659 |
| Information technology | $616,351 |
| Royalties | $0 |
| Occupancy | $6,291,068 |
| Travel | $166,685 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $269,281 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,910,573 |
| Insurance | $1,007,688 |
| All other expenses | $2,289,163 |
| Total functional expenses | $94,937,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $750 |
| Savings and temporary cash investments | $29,316,619 |
| Pledges and grants receivable | $4,011,639 |
| Accounts receivable, net | $1,839,967 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,982,241 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,776,105 |
| Net Land, buildings, and equipment | $13,744,539 |
| Investments—publicly traded securities | $259,617,164 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,811,307 |
| Total assets | $325,100,331 |
| Accounts payable and accrued expenses | $18,906,989 |
| Grants payable | $0 |
| Deferred revenue | $4,295,103 |
| 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 | $15,813,880 |
| Total liabilities | $39,015,972 |
| Net assets without donor restrictions | $210,928,519 |
| Net assets with donor restrictions | $75,155,840 |
| 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 | $325,100,331 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Samuel Merritt University has recieved totaling $32,000.
| Awarding Organization | Amount |
|---|---|
Bako Medical Education Foundation Inc Alpharetta, GA PURPOSE: ENDOWMENT SCHOLARSHIP FUND | $25,000 |
Everett H Johnston Foundation Lincoln, CA PURPOSE: DEVEN SHAVER TUITION | $7,000 |
Endowment Analysis
| Beg. Balance | $56,554,491 |
| Earnings | $6,353,140 |
| Net Contributions | $540,622 |
| Grants | $2,148,043 |
| Ending Balance | $61,300,210 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western University Of Health Sciences Pomona, CA | $407,040,464 | $223,097,893 |
Samuel Merritt University Oakland, CA | $325,100,331 | $118,517,115 |
Dominican University Of California San Rafael, CA | $120,936,382 | $85,037,820 |
Kaiser Permanente Bernard J Tyson School Of Medicine Inc Oakland, CA | $109,560,789 | $87,175,278 |
Fuller Theological Seminary Pasadena, CA | $257,080,633 | $48,939,173 |
California Western School Of Law San Diego, CA | $69,688,098 | $48,863,777 |
Keck Graduate Institute Claremont, CA | $121,856,519 | $41,890,021 |
Marshall B Ketchum University Fullerton, CA | $105,970,455 | $47,583,305 |
Thunderbird School Of Global Management Phoenix, AZ | $4,648,363 | $22,980,212 |
Southern California University Of Health Sciences Whittier, CA | $39,889,743 | $44,008,074 |
Palo Alto University Inc Palo Alto, CA | $37,743,432 | $38,449,514 |
Uc Berkeley Center For Executive Education Berkeley, CA | $14,411,646 | $24,161,289 |