Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $35,962

• 1e · Government grants (contributions)

  $2,529,620

• 1f · All other contributions, gifts and grants

  $3,030,782

• 1g · Noncash contributions included above

  $305,904

• 2a · Program service revenue: STUDENT TUITION & FEES

  total $77,980,015 · related or exempt $77,980,015

• 2b · Program service revenue: ROOM & BOARD

  total $12,967,826 · related or exempt $12,967,826

• 2c · Program service revenue: GOVERNMENT ADMIN FEE

  total $54,960 · related or exempt $54,960

• 2d · Program service revenue: CAMPUS STORE

  total $43,845 · excluded $43,845

• 3 · Investment income

  total $3,460,549 · excluded $3,460,549

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

  total $59,954 · excluded $59,954

• 7a · Gross sales of assets other than inventory

  securities $176,108,988

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

  securities $148,730,532

• 7c · Gain or loss

  securities $27,378,456

• 7d · Net gain or loss

  total $27,378,456 · excluded $27,378,456

• 8a · Fundraising events: gross income

  $9,106

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

  $35,962

• 8b · Fundraising events: direct expenses

  $17,683

• 8c · Net income from fundraising events

  total -$8,577 · excluded -$8,577

• 11a · Other revenue: SUMMER CAMPS/CONFERENCES

  total $202,046 · related or exempt $148,632 · unrelated business $53,414

• 11b · Other revenue: OUTSIDE PRINTING REVENUE

  total $103,040 · unrelated business $103,040

• 11c · Other revenue: STUDENT HEALTH CENTER

  total $77,369 · related or exempt $77,369

• 11d · All other revenue

  total $543,042 · related or exempt $263,879 · excluded $279,163

• 11e · Other revenue, total

  $925,497

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $34,641,814 · program services $34,641,814

• 5 · Compensation of officers, directors and key employees

  total $1,156,562 · management and general $1,156,562

• 7 · Other salaries and wages

  total $27,789,724 · program services $24,420,812 · management and general $2,838,094 · fundraising $530,818

• 8 · Pension plan contributions

  total $2,910,679 · program services $2,557,821 · management and general $284,189 · fundraising $68,669

• 9 · Other employee benefits

  total $1,005,815 · program services $883,881 · management and general $98,205 · fundraising $23,729

• 10 · Payroll taxes

  total $3,958,488 · program services $3,478,606 · management and general $386,494 · fundraising $93,388

• 11b · Fees: legal

  total $84,685 · management and general $84,685

• 11c · Fees: accounting

  total $92,745 · management and general $92,745

• 11d · Fees: lobbying

  total $60,300 · fundraising $60,300

• 11f · Fees: investment management

  total $293,319 · management and general $293,319

• 11g · Fees: other

  total $3,373,843 · program services $2,358,788 · management and general $917,339 · fundraising $97,716

• 12 · Advertising and promotion

  total $1,140,111 · program services $146,942 · management and general $990,609 · fundraising $2,560

• 13 · Office expenses

  total $3,410,011 · program services $2,987,018 · management and general $349,358 · fundraising $73,635

• 14 · Information technology

  total $1,655,356 · program services $459,541 · management and general $1,195,616 · fundraising $199

• 16 · Occupancy

  total $3,156,848 · program services $3,083,940 · management and general $72,908

• 17 · Travel

  total $1,532,966 · program services $1,285,683 · management and general $162,773 · fundraising $84,510

• 19 · Conferences, conventions and meetings

  total $258,731 · program services $231,233 · management and general $24,260 · fundraising $3,238

• 20 · Interest

  total $2,202,339 · program services $2,184,396 · management and general $17,943

• 22 · Depreciation, depletion and amortization

  total $7,294,994 · program services $7,106,766 · management and general $188,228

• 23 · Insurance

  total $808,488 · program services $789,306 · management and general $19,182

• 24a · Other expenses: FOOD SERVICE

  total $3,385,771 · program services $3,284,458 · management and general $99,656 · fundraising $1,657

• 24b · Other expenses: MEMBERSHIPS

  total $418,315 · program services $273,796 · management and general $141,145 · fundraising $3,374

• 24c · Other expenses: JANITORIAL

  total $119,972 · program services $119,972

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $90,190 · end of year $24,194

• 2 · Savings and temporary cash investments

  beginning of year $10,754,472 · end of year $12,188,620

• 3 · Pledges and grants receivable

  beginning of year $8,031,430 · end of year $8,876,180

• 4 · Accounts receivable

  beginning of year $4,363,990 · end of year $1,440,550

• 8 · Inventories for sale or use

  beginning of year $229,906 · end of year $252,714

• 9 · Prepaid expenses and deferred charges

  beginning of year $885,794 · end of year $1,572,148

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

  $222,529,382

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

  $104,500,015

• 10c · Land, buildings and equipment, net

  beginning of year $120,307,883 · end of year $118,029,367

• 11 · Investments: publicly traded securities

  beginning of year $74,356,316 · end of year $79,611,609

• 13 · Investments: program-related

  beginning of year $1,524,702 · end of year $1,489,356

• 14 · Intangible assets

  beginning of year $1,112,508 · end of year $981,028

• 15 · Other assets

  beginning of year $6,065,503 · end of year $6,312,985

• 17 · Accounts payable and accrued expenses

  beginning of year $5,489,902 · end of year $3,567,768

• 19 · Deferred revenue

  beginning of year $3,484,506 · end of year $3,476,297

• 20 · Tax-exempt bond liabilities

  beginning of year $45,626,234 · end of year $44,449,339

• 25 · Other liabilities

  beginning of year $4,534,174 · end of year $4,159,511

• 27 · Net assets without donor restrictions

  beginning of year $114,784,310 · end of year $118,078,573

• 28 · Net assets with donor restrictions

  beginning of year $53,803,568 · end of year $57,047,263

The filer's explanations (Part III)

PART I, LINE 1A

THE UNIVERSITY FURNISHES THE PRESIDENT AND FAMILY WITH HOUSING OWNED BY THE UNIVERSITY. THE RESIDENCE IS OFF-CAMPUS AND IS NOT REQUIRED AS A CONDITION OF EMPLOYMENT. THE VALUE OF THE HOUSING IS INCLUDED IN THE PRESIDENT'S TAXABLE COMPENSATION. THE UNIVERSITY IS RESPONSIBLE FOR PAYING THE COST OF ALL UTILITIES AND REASONABLE EXPENSES, EXCLUDING PERSONAL TELEPHONE CHARGES, INCLUDING MAINTENANCE AND RENOVATIONS TO THE PRESIDENT'S RESIDENCE AND GROUNDS. THE UNIVERSITY PAYS DUES FOR MEMBERSHIPS IN SUCH PROFESSIONAL AND COMMUNITY ASSOCIATIONS AND ORGANIZATIONS, AND FOR ATTENDANCE BY THE PRESIDENT AT CONFERENCES AND MEETINGS, AS DEEMED APPROPRIATE FOR THE PRESIDENT'S EXECUTION OF THE DUTIES OF OFFICE. THIS INCLUDES MEMBERSHIP FEES TO THE WESTMORELAND CLUB AND HUNTSVILLE GOLF CLUB. THESE BENEFITS ARE NOT INCLUDED IN THE PRESIDENT'S TAXABLE COMPENSATION GIVEN THE BUSINESS NATURE SURROUNDING THESE MEMBERSHIPS.

PART I, LINE 4B

DANIEL MYERS, PRESIDENT, PARTICIPATES IN A NON-QUALIFIED PLAN. THE UNIVERSITY MADE A CONTRIBUTION TO THE PLAN IN THE AMOUNT OF $23,000 DURING THE CALENDAR YEAR.

PART I, LINE 7

THE PRESIDENT OF THE UNIVERSITY MAY RECEIVE AN INCENTIVE-BASED ANNUAL BONUS AT THE DISCRETION OF THE BOARD OF TRUSTEES. THE DECISION TO AWARD A BONUS IS BASED UPON THE PRESIDENT'S PERFORMANCE DURING THE PREVIOUS YEAR AND MEASURED AGAINST THE GOALS, OBJECTIVES, AND EXPECTATIONS MUTUALLY ESTABLISHED BY THE PRESIDENT AND THE BOARD OF TRUSTEES ANNUALLY.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MU REAL ESTATE LLC

  REAL ESTATE HOLDING COMPANY · PA · income $0 · assets $339

  Directly controlled by MISERICORDIA UNIVERSITY

Related corporations and trusts

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

• PERPETUAL TRUST (1)

  T · INVESTMENTS · PA

• PERPETUAL TRUST (1)

  T · INVESTMENTS · PA