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Nonprofiteer
← HERZING UNIVERSITY LTD

Form 990 for tax year 2024

Filed by HERZING UNIVERSITY LTD.

Totals

Total revenue
$200,540,033
Total expenses
$186,942,854
Contributions and grants received
$4,514,024
Grants paid
$20,430,442
Program service revenue
$192,510,709
Investment income
$3,484,282
Other revenue
$31,018
Total assets, end of year
$189,354,313
Total liabilities, end of year
$66,096,804
Net assets or fund balances, end of year
$123,257,509
Program services expenses (Part IX)
$160,847,759
Management and general expenses
$26,041,347
Fundraising expenses
$53,748
Program service expenses (Part III)
$160,847,759

Program services were 86.0% 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.

  • 1e · Government grants (contributions)

    $4,388,318

  • 1f · All other contributions, gifts and grants

    $125,706

  • 2a · Program service revenue: TUITION INCOME

    total $191,625,117 · related or exempt $191,625,117

  • 2b · Program service revenue: OTHER INCOME

    total $885,592 · related or exempt $885,592

  • 3 · Investment income

    total $2,201,799 · excluded $2,201,799

  • 7a · Gross sales of assets other than inventory

    securities $210,783,219

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

    securities $209,500,736

  • 7c · Gain or loss

    securities $1,282,483

  • 7d · Net gain or loss

    total $1,282,483 · excluded $1,282,483

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $31,018 · related or exempt $31,018

  • 11e · Other revenue, total

    $31,018

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $20,402,303 · program services $20,402,303

  • 3 · Grants to foreign organizations and individuals

    total $28,139 · program services $28,139

  • 5 · Compensation of officers, directors and key employees

    total $2,892,282 · management and general $2,892,282

  • 7 · Other salaries and wages

    total $65,087,771 · program services $59,572,909 · management and general $5,514,862

  • 9 · Other employee benefits

    total $7,420,745 · program services $6,391,862 · management and general $1,028,883

  • 10 · Payroll taxes

    total $4,970,374 · program services $4,472,229 · management and general $498,145

  • 11b · Fees: legal

    total $722,030 · management and general $722,030

  • 11c · Fees: accounting

    total $215,242 · management and general $215,242

  • 11d · Fees: lobbying

    total $280,345 · management and general $280,345

  • 11e · Fees: professional fundraising services

    total $53,748 · fundraising $53,748

  • 11f · Fees: investment management

    total $201,007 · management and general $201,007

  • 11g · Fees: other

    total $14,130,954 · program services $5,494,290 · management and general $8,636,664

  • 12 · Advertising and promotion

    total $28,354,528 · program services $28,354,528

  • 13 · Office expenses

    total $2,322,771 · program services $599,544 · management and general $1,723,227

  • 14 · Information technology

    total $699,783 · program services $109,910 · management and general $589,873

  • 16 · Occupancy

    total $7,900,241 · program services $7,388,550 · management and general $511,691

  • 17 · Travel

    total $2,568,159 · program services $1,804,099 · management and general $764,060

  • 20 · Interest

    total $314,750 · program services $229,767 · management and general $84,983

  • 22 · Depreciation, depletion and amortization

    total $6,132,937 · program services $4,477,044 · management and general $1,655,893

  • 23 · Insurance

    total $714,982 · program services $714,982

  • 24a · Other expenses: TEXTBOOKS

    total $6,076,264 · program services $6,076,264

  • 24b · Other expenses: STUDENT EXPENSES

    total $3,863,519 · program services $3,863,519

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $3,446,432 · program services $3,446,432

  • 24d · Other expenses: ASSESSMENT EXPENSE

    total $3,135,102 · program services $3,135,102

  • 24e · All other expenses

    total $5,008,446 · program services $4,286,286 · management and general $722,160

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,276,551 · end of year $16,042,986

  • 4 · Accounts receivable

    beginning of year $5,261,073 · end of year $6,631,821

  • 5 · Loans and receivables from officers and key people

    beginning of year $100,000 · end of year $50,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,713,750 · end of year $4,279,541

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

    $53,261,461

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

    $23,416,526

  • 10c · Land, buildings and equipment, net

    beginning of year $29,779,696 · end of year $29,844,935

  • 11 · Investments: publicly traded securities

    beginning of year $49,815,084 · end of year $66,863,988

  • 14 · Intangible assets

    beginning of year $41,589,347 · end of year $39,640,336

  • 15 · Other assets

    beginning of year $26,614,383 · end of year $26,000,706

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,719,168 · end of year $23,672,875

  • 19 · Deferred revenue

    beginning of year $2,565,664 · end of year $3,467,302

  • 24 · Unsecured notes and loans payable

    beginning of year $10,926,784 · end of year $10,549,285

  • 25 · Other liabilities

    beginning of year $29,042,533 · end of year $28,407,342

  • 27 · Net assets without donor restrictions

    beginning of year $104,970,187 · end of year $122,016,789

  • 28 · Net assets with donor restrictions

    beginning of year $925,548 · end of year $1,240,720

Mission and programs · 2024

Mission

TO EDUCATE, SUPPORT AND EMPOWER ALL STUDENTS FOR SUCCESS IN WORK, LEARNING AND ENGAGEMENT IN THEIR COMMUNITIES AND A GLOBAL SOCIETY.

Activities or mission (Part I)

HERZING UNIVERSITY IS A REGIONALLY-ACCREDITED, PRIVATE CAREER UNIVERSITY THAT PROVIDES EDUCATIONAL PROGRAMS AT THE CERTIFICATE, UNDERGRADUATE, AND GRADUATE LEVELS FOR A DIVERSE STUDENT POPULATION IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THE CORPORATE ADMINISTRATIVE OFFICE AND ONLINE OPERATIONS SUPPORT OFFICE ARE LOCATED IN MILWAUKEE, WI AND ELEVEN CAMPUSES LOCATED THROUGHOUT THE UNITED STATES. THROUGH QUALITY TEACHING AND LEARNING, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLS NECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO THE PHILOSOPHY OF PUTTING STUDENTS AT THE CENTER OF THE UNIVERSITY MISSION, HERZING UNIVERSITY PREPARES GRADUATES FOR CAREERS IN TECHNOLOGY, BUSINESS, AND HEALTHCARE.

  • HERZING UNIVERSITY PROVIDES EDUCATIONAL PROGRAMS AT THE CERTIFICATE, UNDERGRADUATE, AND GRADUATE LEVELS FOR A DIVERSE STUDENT POPULATION IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THROUGH QUALITY TEACHING AND LEARNING, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLS NECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO THE PHILOSOPHY OF PUTTING STUDENTS AT THE CENTER OF THE UNIVERSITY MISSION, HERZING UNIVERSITY PREPARES GRADUATES FOR CAREERS IN TECHNOLOGY, BUSINESS, AND HEALTHCARE.

    Expenses $160,847,759 · Grants $20,430,442 · Revenue $192,541,727

As filed on the 2024 return.

Listed in Part VII

  • Mark Ambrosius

    TRUSTEE

    Total calculated
    $39,500
    From this org
    $39,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Cynthia Cleveland

    TRUSTEE

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tonjia Coverdale

    TRUSTEE

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joseph Froehlich

    TRUSTEE

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Erin Hareng

    TRUSTEE (UNTIL 12/31/24)

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Henry Herzing

    TRUSTEE

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joseph Hill

    TRUSTEE

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Lopez

    TRUSTEE/CHAIRPERSON

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Christine Pharr

    TRUSTEE/VICE CHAIRPERSON

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Scott Reid

    TRUSTEE

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jill Schwieters

    TRUSTEE

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Patricia Todus

    TRUSTEE (UNTIL 12/31/24)

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Renee Herzing

    PRESIDENT/CEO

    Total calculated
    $673,240
    From this org
    $625,187
    From related orgs
    $0
    Other
    $48,053
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $541,187
    Bonus
    $84,000
    Other
    $0
    Deferred
    $28,133
    Nontaxable benefits
    $19,920
    Filer's total
    $673,240

  • Erik Parks

    CFO/COO & TREASURER

    Total calculated
    $542,634
    From this org
    $516,592
    From related orgs
    $0
    Other
    $26,042
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $379,545
    Bonus
    $137,047
    Other
    $0
    Deferred
    $24,642
    Nontaxable benefits
    $1,400
    Filer's total
    $542,634

  • Katherine Kautzer

    PROVOST/CAO

    Total calculated
    $416,160
    From this org
    $370,305
    From related orgs
    $0
    Other
    $45,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,027
    Bonus
    $51,278
    Other
    $0
    Deferred
    $26,607
    Nontaxable benefits
    $19,248
    Filer's total
    $416,160

  • Katherine Hauser

    CONTROLLER/CORPORATE SECRETARY

    Total calculated
    $149,084
    From this org
    $133,577
    From related orgs
    $0
    Other
    $15,507
    Hours/week
    40

  • James Gillespie

    CMO

    Total calculated
    $449,333
    From this org
    $399,734
    From related orgs
    $0
    Other
    $49,599
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,494
    Bonus
    $66,240
    Other
    $0
    Deferred
    $26,614
    Nontaxable benefits
    $22,985
    Filer's total
    $449,333

  • Nigel Longworth

    CIO/COO

    Total calculated
    $502,330
    From this org
    $451,431
    From related orgs
    $0
    Other
    $50,899
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,471
    Bonus
    $62,835
    Other
    $67,125
    Deferred
    $27,921
    Nontaxable benefits
    $22,978
    Filer's total
    $502,330

  • Derrick Pope

    VP ADMISSIONS

    Total calculated
    $236,614
    From this org
    $205,399
    From related orgs
    $0
    Other
    $31,215
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,202
    Bonus
    $21,197
    Other
    $0
    Deferred
    $8,690
    Nontaxable benefits
    $22,525
    Filer's total
    $236,614

  • Jeffrey Cross

    SVP OF ONLINE OPERATIONS

    Total calculated
    $330,064
    From this org
    $297,836
    From related orgs
    $0
    Other
    $32,228
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,106
    Bonus
    $47,380
    Other
    $350
    Deferred
    $11,077
    Nontaxable benefits
    $21,151
    Filer's total
    $330,064

  • Sarah Higgins

    REGIONAL VICE PRESIDENT - SOUTH

    Total calculated
    $211,225
    From this org
    $184,897
    From related orgs
    $0
    Other
    $26,328
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,357
    Bonus
    $20,540
    Other
    $0
    Deferred
    $3,889
    Nontaxable benefits
    $22,439
    Filer's total
    $211,225

  • Jeffrey Hill

    REGIONAL VICE PRESIDENT - MIDWEST

    Total calculated
    $277,405
    From this org
    $244,661
    From related orgs
    $0
    Other
    $32,744
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,658
    Bonus
    $27,675
    Other
    $328
    Deferred
    $10,063
    Nontaxable benefits
    $22,681
    Filer's total
    $277,405

  • Mladen Grgic

    VP, IT

    Total calculated
    $249,173
    From this org
    $219,668
    From related orgs
    $0
    Other
    $29,505
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,028
    Bonus
    $17,640
    Other
    $0
    Deferred
    $8,738
    Nontaxable benefits
    $20,767
    Filer's total
    $249,173

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 · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings

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
  • 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)

PART I, LINE 1A
LOAN FORGIVENESS FOR KEY EMPLOYEE - GROSSED UP THE FIRST LEVEL OF TAXES
PART I, LINE 6
PORTION OF BONUS CRITERIA RELATES TO TARGET NET OPERATING INCOME OF THE ORGANIZATION.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
24 September 2025
IRS schema version
2024v5.2
Source object
202522869349301897

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