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Nonprofiteer
← MANCHESTER UNIVERSITY INC

Form 990 for tax year 2024

Filed by MANCHESTER UNIVERSITY INC.

Totals

Total revenue
$88,332,717
Total expenses
$72,910,694
Contributions and grants received
$23,021,272
Grants paid
$26,984,860
Program service revenue
$52,388,296
Investment income
$12,889,574
Other revenue
$33,575
Total assets, end of year
$176,403,200
Total liabilities, end of year
$24,991,780
Net assets or fund balances, end of year
$151,411,420
Program services expenses (Part IX)
$62,190,754
Management and general expenses
$9,509,872
Fundraising expenses
$1,210,068
Program service expenses (Part III)
$62,190,754

Program services were 85.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $10,393

  • 1d · Related organizations

    $9,328

  • 1e · Government grants (contributions)

    $7,344,374

  • 1f · All other contributions, gifts and grants

    $15,657,177

  • 1g · Noncash contributions included above

    $393,517

  • 2a · Program service revenue: Tuition and fees

    total $41,812,838 · related or exempt $41,812,838 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Room and board

    total $8,370,775 · related or exempt $8,370,775 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Facility and technology fees

    total $1,450,872 · related or exempt $1,450,872 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Auxiliary Services

    total $604,609 · related or exempt $483,218 · unrelated business $121,391 · excluded $0

  • 2e · Program service revenue: Student Services/Extracurricular

    total $46,332 · related or exempt $46,332 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $102,870 · related or exempt $102,870 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,425,522 · related or exempt $0 · unrelated business $0 · excluded $3,425,522

  • 4 · Income from investment of tax-exempt bond proceeds

    total $688 · related or exempt $0 · unrelated business $0 · excluded $688

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $300 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $300 · personal property $0

  • 6d · Net rental income or loss

    total $300 · related or exempt $0 · unrelated business $0 · excluded $300

  • 7a · Gross sales of assets other than inventory

    securities $74,082,273 · other assets $5,775

  • 7b · Less cost or other basis and sales expenses

    securities $64,587,015 · other assets $37,669

  • 7c · Gain or loss

    securities $9,495,258 · other assets -$31,894

  • 7d · Net gain or loss

    total $9,463,364 · related or exempt $0 · unrelated business $0 · excluded $9,463,364

  • 8a · Fundraising events: gross income

    $9,225

  • 8a · Fundraising events: contributions included on line 1c

    $10,393

  • 8b · Fundraising events: direct expenses

    $536

  • 8c · Net income from fundraising events

    total $8,689 · unrelated business $0 · excluded $8,689

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $24,586 · related or exempt $24,586 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $24,586

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,000 · program services $19,000

  • 2 · Grants to domestic individuals

    total $26,667,713 · program services $26,667,713

  • 3 · Grants to foreign organizations and individuals

    total $298,147 · program services $298,147

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,966,097 · program services $468,455 · management and general $1,270,899 · fundraising $226,743

  • 6 · Compensation of disqualified persons

    total $52,563 · program services $0 · management and general $52,563 · fundraising $0

  • 7 · Other salaries and wages

    total $17,951,442 · program services $14,684,101 · management and general $2,716,091 · fundraising $551,250

  • 8 · Pension plan contributions

    total $937,732 · program services $767,055 · management and general $141,881 · fundraising $28,796

  • 9 · Other employee benefits

    total $2,888,114 · program services $2,362,448 · management and general $436,978 · fundraising $88,688

  • 10 · Payroll taxes

    total $1,559,035 · program services $1,196,944 · management and general $302,549 · fundraising $59,542

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $15,142 · program services $0 · management and general $15,142 · fundraising $0

  • 11c · Fees: accounting

    total $50,750 · program services $0 · management and general $50,750 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $272,887 · program services $0 · management and general $272,887 · fundraising $0

  • 11g · Fees: other

    total $1,010,176 · program services $680,277 · management and general $323,596 · fundraising $6,303

  • 12 · Advertising and promotion

    total $397,715 · program services $16,804 · management and general $380,711 · fundraising $200

  • 13 · Office expenses

    total $894,293 · program services $615,669 · management and general $234,741 · fundraising $43,883

  • 14 · Information technology

    total $2,109,234 · program services $1,615,036 · management and general $413,858 · fundraising $80,340

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $1,779,057 · program services $1,394,745 · management and general $384,312 · fundraising $0

  • 17 · Travel

    total $774,222 · program services $704,682 · management and general $30,197 · fundraising $39,343

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $17,297 · program services $0 · management and general $17,297 · fundraising $0

  • 20 · Interest

    total $2,095,049 · program services $644,836 · management and general $1,450,213 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,595,653 · program services $4,310,098 · management and general $267,172 · fundraising $18,383

  • 23 · Insurance

    total $294,126 · program services $101,001 · management and general $193,125 · fundraising $0

  • 24a · Other expenses: Room & Board

    total $3,045,539 · program services $3,045,539 · management and general $0 · fundraising $0

  • 24b · Other expenses: Summer Conf Meals

    total $323,638 · program services $323,638 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dues & Subscriptions

    total $315,241 · program services $166,141 · management and general $144,101 · fundraising $4,999

  • 24d · Other expenses: Equipment & Maint

    total $263,912 · program services $229,487 · management and general $34,425 · fundraising $0

  • 24e · All other expenses

    total $2,316,920 · program services $1,878,938 · management and general $376,384 · fundraising $61,598

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $194,712 · end of year $77,576

  • 2 · Savings and temporary cash investments

    beginning of year $9,582,321 · end of year $3,891,161

  • 3 · Pledges and grants receivable

    beginning of year $1,299,821 · end of year $675,589

  • 4 · Accounts receivable

    beginning of year $1,764,365 · end of year $2,817,719

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $75,994 · end of year $52,746

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $665,862 · end of year $1,281,122

  • 10a · Land, buildings and equipment: cost or other basis

    $167,740,844

  • 10b · Land, buildings and equipment: accumulated depreciation

    $88,861,545

  • 10c · Land, buildings and equipment, net

    beginning of year $81,336,426 · end of year $78,879,299

  • 11 · Investments: publicly traded securities

    beginning of year $51,489,819 · end of year $66,784,663

  • 12 · Investments: other securities

    beginning of year $19,913,090 · end of year $19,388,323

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,944,296 · end of year $2,555,002

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,481,948 · end of year $2,386,572

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $2,411,272 · end of year $2,853,103

  • 20 · Tax-exempt bond liabilities

    beginning of year $15,976,740 · end of year $15,601,001

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $2,750,000 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,588,265 · end of year $4,151,104

  • 27 · Net assets without donor restrictions

    beginning of year $59,197,108 · end of year $55,320,418

  • 28 · Net assets with donor restrictions

    beginning of year $79,861,373 · end of year $96,091,002

Mission and programs · 2024

Mission

Manchester University respects the infinite worth of every individual and graduates persons of ability and conviction who draw upon their education and faith to lead principled, productive, and compassionate lives that improve the human condition.

  • Manchester University offers more than 70 areas of undergraduate study, five master's programs (Accountancy, Business Administration, Athletic Training, Pharmacogenomics and Nutrigenomics), and two professional degrees (Doctorate in Pharmacy and Doctorate in Physical Therapy) to about 1,200 students from 26 states and 5 countries. The independent, liberal arts school is located in North Manchester, Ind., where 72 percent of the students live on the 120-acre campus. Our professional degrees, as well as the Athletic Training and Pharmacogenomics master's programs, are on a Fort Wayne, Ind., campus.

    Expenses $62,190,754 · Grants $26,984,860 · Revenue $52,412,882

As filed on the 2024 return.

Listed in Part VII

  • Stacy Young

    President

    Total calculated
    $438,098
    From this org
    $391,309
    From related orgs
    $0
    Other
    $46,789
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $335,005
    Bonus
    $0
    Other
    $56,304
    Deferred
    $7,119
    Nontaxable benefits
    $39,670
    Filer's total
    $438,098

  • Walter Smith

    Dean for Health Professions & Professor of Pharmaceutical Sciences

    Total calculated
    $295,192
    From this org
    $269,950
    From related orgs
    $0
    Other
    $25,242
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $243,058
    Bonus
    $0
    Other
    $26,892
    Deferred
    $17,500
    Nontaxable benefits
    $7,742
    Filer's total
    $295,192

  • Clair Knapp

    Treasurer/VP for Finance & CBO

    Total calculated
    $286,295
    From this org
    $259,557
    From related orgs
    $0
    Other
    $26,738
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $225,687
    Bonus
    $0
    Other
    $33,870
    Deferred
    $16,625
    Nontaxable benefits
    $10,113
    Filer's total
    $286,295

  • Celia Cook-Huffman

    VP Academic Affairs

    Total calculated
    $247,578
    From this org
    $228,151
    From related orgs
    $0
    Other
    $19,427
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $200,376
    Bonus
    $0
    Other
    $27,776
    Deferred
    $10,404
    Nontaxable benefits
    $8,805
    Filer's total
    $247,361

  • Tara Jenkins

    Executive Associate Dean of Health Professions

    Total calculated
    $208,603
    From this org
    $197,858
    From related orgs
    $0
    Other
    $10,745
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,390
    Bonus
    $0
    Other
    $19,468
    Deferred
    $8,980
    Nontaxable benefits
    $1,765
    Filer's total
    $208,603

  • Melanie Harmon

    VP for Advancement

    Total calculated
    $206,160
    From this org
    $192,334
    From related orgs
    $0
    Other
    $13,826
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,658
    Bonus
    $0
    Other
    $2,676
    Deferred
    $13,300
    Nontaxable benefits
    $342
    Filer's total
    $205,976

  • Jennifer Campbell

    Associate Dean of Academic Programs/Professor

    Total calculated
    $205,268
    From this org
    $189,028
    From related orgs
    $0
    Other
    $16,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,832
    Bonus
    $0
    Other
    $15,196
    Deferred
    $12,402
    Nontaxable benefits
    $3,838
    Filer's total
    $205,268

  • Abagail Van Vlerah

    VP for Student Life

    Total calculated
    $200,376
    From this org
    $184,122
    From related orgs
    $0
    Other
    $16,254
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $172,976
    Bonus
    $0
    Other
    $11,446
    Deferred
    $11,762
    Nontaxable benefits
    $4,492
    Filer's total
    $200,676

  • Diane Calinski

    Professor and Department Chair of Pharmaceutical and Grad Life Sciences

    Total calculated
    $191,250
    From this org
    $172,575
    From related orgs
    $0
    Other
    $18,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,919
    Bonus
    $0
    Other
    $656
    Deferred
    $11,415
    Nontaxable benefits
    $7,260
    Filer's total
    $191,250

  • Teresa DeLellis

    Chair and Associate Professor of Pharmacy Practice

    Total calculated
    $185,030
    From this org
    $168,341
    From related orgs
    $0
    Other
    $16,689
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,178
    Bonus
    $0
    Other
    $1,163
    Deferred
    $15,912
    Nontaxable benefits
    $4,825
    Filer's total
    $189,078

  • Yousif Rojeab

    Professor of Pharmaceutical and Graduate Life Science

    Total calculated
    $169,332
    From this org
    $161,761
    From related orgs
    $0
    Other
    $7,571
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,900
    Bonus
    $0
    Other
    $13,860
    Deferred
    $7,395
    Nontaxable benefits
    $0
    Filer's total
    $169,155

  • Julie Knuth

    Executive Assistant/Assistant Secretary

    Total calculated
    $83,780
    From this org
    $75,131
    From related orgs
    $0
    Other
    $8,649
    Hours/week
    45

  • Leon Letter

    VP of Strategic Initiatives and Corporate Partnerships

    Total calculated
    $43,132
    From this org
    $43,132
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Lisa Young Alston

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mark Baer

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Alicia Baird

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Dustin Brown

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Christopher Caldwell

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • J Christopher Craig

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ding-Jo Currie

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Aaron Fetrow

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Lisa Ford

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Cheryl Green

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Audrey Hahn

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • David Haist

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Harriet Hamer

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Carolyn Hardman

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Brian Harshberger

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kevin Hochstedler

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Laura Kenealy

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Steve Knaus

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Timothy Lake

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Thomas Lower

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Madalyn Metzger

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Debra Mishler

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Michael Packnett

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Nadine S Pence

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Lily Qi

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Isabel Santner

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Noah Smith

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Daniel Starr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Richard Teets Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Carter

    Vice Chair 2025

    Total calculated
    $0
    Hours/week
    2

  • Joshua Kline

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Linda Kroll

    Chair

    Total calculated
    $0
    Hours/week
    5

  • William M Rosenbury

    Vice Chair 2024

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
Travel for companions is provided when in the best interest of the University. For the convenience of the University, and as a condition of employment, the President is provided with housing on the University campus as a nontaxable benefit.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable remainder trusts (4)

    T · charitable remainder trust · IN

Provenance

Return type
form_990
Tax year
2024
Filed
20 February 2026
IRS schema version
2024v5.0
Source object
202611149349300531

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