Form 990 for tax year 2023

Filed by MALONE UNIVERSITY.

Totals

Total revenue: $42,956,466
Total expenses: $43,792,430
Contributions and grants received: $5,665,592
Grants paid: $17,275,644
Program service revenue: $36,470,308
Investment income: $820,566
Other revenue: $0
Total assets, end of year: $66,873,325
Total liabilities, end of year: $18,432,515
Net assets or fund balances, end of year: $48,440,810
Program services expenses (Part IX): $37,116,988
Management and general expenses: $5,794,984
Fundraising expenses: $880,458
Program service expenses (Part III): $37,116,988

Program services were 84.8% 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)

$453,412
1f · All other contributions, gifts and grants

$5,212,180
1g · Noncash contributions included above

$1,242,666
2a · Program service revenue: TUITION, FEES, ETC

total $29,902,250 · related or exempt $29,902,250
2b · Program service revenue: AUXILIARY REVENUE

total $5,958,854 · related or exempt $5,958,854
2c · Program service revenue: PARKING FEES

total $2,750 · related or exempt $2,750
2d · Program service revenue: TESTING SERVICES

total $1,565 · related or exempt $1,565
2e · Program service revenue: BOOKSTORE SALES

total $32,721 · related or exempt $32,721
2f · All other program service revenue

total $572,168 · related or exempt $572,168 · unrelated business $0 · excluded $0
3 · Investment income

total $809,969 · excluded $809,969
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $6,003,102 · other assets $0
7b · Less cost or other basis and sales expenses

securities $5,971,669 · other assets $20,836
7c · Gain or loss

securities $31,433 · other assets -$20,836
7d · Net gain or loss

total $10,597 · excluded $10,597
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $17,275,644 · program services $17,275,644
5 · Compensation of officers, directors and key employees

total $818,915 · program services $230,111 · management and general $462,456 · fundraising $126,348
6 · Compensation of disqualified persons

total $93,115 · program services $93,115
7 · Other salaries and wages

total $9,953,377 · program services $7,149,177 · management and general $2,376,244 · fundraising $427,956
8 · Pension plan contributions

total $55,507 · program services $38,024 · management and general $14,627 · fundraising $2,856
9 · Other employee benefits

total $1,782,796 · program services $1,573,971 · management and general $174,710 · fundraising $34,115
10 · Payroll taxes

total $821,335 · program services $562,635 · management and general $216,437 · fundraising $42,263
11b · Fees: legal

total $79,744 · management and general $79,744
11c · Fees: accounting

total $88,229 · management and general $88,229
11f · Fees: investment management

total $94,548 · management and general $94,548
11g · Fees: other

total $710,204 · program services $466,946 · management and general $210,483 · fundraising $32,775
12 · Advertising and promotion

total $938,336 · program services $791,829 · management and general $121,718 · fundraising $24,789
13 · Office expenses

total $289,010 · program services $163,419 · management and general $72,614 · fundraising $52,977
14 · Information technology

total $976,402 · program services $228,679 · management and general $747,723
16 · Occupancy

total $1,317,107 · program services $1,072,732 · management and general $244,375
17 · Travel

total $818,013 · program services $730,495 · management and general $67,357 · fundraising $20,161
19 · Conferences, conventions and meetings

total $90,511 · program services $58,537 · management and general $29,963 · fundraising $2,011
20 · Interest

total $1,012,045 · program services $1,012,045
22 · Depreciation, depletion and amortization

total $2,069,457 · program services $1,423,216 · management and general $540,667 · fundraising $105,574
23 · Insurance

total $161,863 · management and general $161,863
24a · Other expenses: OTHER AUXILLARY

total $3,003,353 · program services $3,003,353
24b · Other expenses: DUES/MEMBERSHIPS

total $160,896 · program services $85,562 · management and general $66,701 · fundraising $8,633
24c · Other expenses: OTHER EDUCATION EXPENSE

total $253,092 · program services $228,567 · management and general $24,525
24d · Other expenses: BAD DEBT

total $88,955 · program services $88,955
24e · All other expenses

total $839,976 · program services $839,976 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $9,000 · end of year $9,000
2 · Savings and temporary cash investments

beginning of year $4,329,705 · end of year $4,516,300
3 · Pledges and grants receivable

beginning of year $1,585,407 · end of year $3,385,320
4 · Accounts receivable

beginning of year $864,296 · end of year $1,046,464
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 $446,283 · end of year $307,068
9 · Prepaid expenses and deferred charges

beginning of year $1,009,560 · end of year $311,374
10a · Land, buildings and equipment: cost or other basis

$100,759,198
10b · Land, buildings and equipment: accumulated depreciation

$65,108,285
10c · Land, buildings and equipment, net

beginning of year $36,402,666 · end of year $35,650,913
11 · Investments: publicly traded securities

beginning of year $18,950,559 · end of year $20,052,491
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $1,454,552 · end of year $1,594,395
17 · Accounts payable and accrued expenses

beginning of year $1,545,308 · end of year $1,462,235
19 · Deferred revenue

beginning of year $1,628,515 · end of year $1,513,993
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 $9,792,229 · end of year $9,208,136
25 · Other liabilities

beginning of year $5,079,312 · end of year $6,248,151
27 · Net assets without donor restrictions

beginning of year $19,430,734 · end of year $19,298,546
28 · Net assets with donor restrictions

beginning of year $27,575,930 · end of year $29,142,264

Mission and programs · 2023

Mission

THE MISSION OF MALONE UNIVERSITY IS TO PROVIDE STUDENTS WITH AN EDUCATION BASED ON BIBLICAL FAITH IN ORDER TO DEVELOP MEN AND WOMEN IN INTELLECTUAL MATURITY, WISDOM, AND CHRISTIAN FAITH WHO ARE COMMITTED TO SERVING THE CHURCH, COMMUNITY, AND THE WORLD.

Activities or mission (Part I)

THE UNIVERSITY IS COMMITTED TO INTELLECTUAL ENRICHMENT IN THE CONTEXT OF CHRISTIAN FAITH THAT PRODUCES GRADUATES WITH A LOVE OF TRUTH AND MATURE FAITH.

TRADITIONAL UNDERGRADUATE - MALONE'S CHRISTIAN LIBERAL ARTS APPROACH IS WIDELY RECOGNIZED TODAY AS PRODUCING EXCEPTIONAL GRADUATES PREPARED FOR ALL ASPECTS OF LIFE. OUR INTENT IS THAT STUDENTS ATTAIN THE WISDOM, KNOWLEDGE, AND SKILLS NECESSARY TO SERVE, ENGAGE, AND TRANSFORM THE COMMUNITIES IN WHICH THEY LIVE AND WORK. UNDERGRADUATE EDUCATIONAL GOALS ARE: (1) UNDERSTAND AND CRITICALLY ENGAGE THOSE BODIES OF KNOWLEDGE AND CULTURAL INFLUENCES THAT HAVE SHAPED THE WORLD; (2) UNDERSTAND THE BIBLICAL, HISTORICAL, AND THEOLOGICAL FOUNDATIONS OF THE CHRISTIAN FAITH; (3) THINK CRITICALLY AND CREATIVELY AND COMMUNICATE EFFECTIVELY IN MULTIPLE CONTEXTS; (4) ATTAIN EXPERTISE IN AT LEAST ONE PROFESSION OR ACADEMIC DISCIPLINE AND LAY THE FOUNDATION FOR MEANINGFUL WORK OR FURTHER STUDIES AT THE GRADUATE LEVEL; AND (5) EXPLORE THE IMPLICATION OF THE CHRISTIAN FAITH FOR ALL AREAS OF LIVING, INCLUDING INTELLECTUAL, SPIRITUAL, AND COMMUNITY PURSUITS. THE UNIVERSITY IS COMPRISED OF ELEVEN DEPARTMENTS AND ONE CENTER: THE CENTER FOR INTERCULTURAL STUDIES. OFFERING 48 UNDERGRADUATE MAJORS, 42 MINORS, AND 11 PRE-PROFESSIONAL PROGRAMS. FALL 2023 TRADITIONAL UNDERGRADUATE FTE ENROLLMENT WAS 797.9, WITH A STUDENT TO FACULTY RATIO OF 12.5 TO 1. RESIDENT HEADCOUNT WAS 460 AND COMMUTER HEADCOUNT WAS 540.

Expenses $32,917,145 · Grants $17,009,550 · Revenue $33,155,178
GRADUATE STUDIES - MALONE UNIVERSITY HAS DEVELOPED GRADUATE PROGRAMS AND WORKSHOPS TO MEET THE NEEDS OF PROFESSIONALS DESIRING TO ADVANCE THEIR KNOWLEDGE AND SKILLS IN A FAITH-BASED ENVIRONMENT. THE FOLLOWING AREAS OF STUDY ARE OFFERED: BUSINESS ADMINISTRATION (MBA), SCHOOL COUNSELING (MAED), NURSING (MSN), AND CLINICAL MENTAL HEALTH COUNSELING (MAED). FALL 2023 GRADUATE FTE ENROLLMENT WAS 169.3; HEADCOUNT WAS 218. IN ADDITION, MALONE UNIVERSITY OFFERS OPTIONS FOR EDUCATION AND BUSINESS PROFESSIONAL DEVELOPMENT THROUGH WORKSHOPS AND CERTIFICATE PROGRAMS.

Expenses $3,481,239 · Grants $246,473 · Revenue $3,260,744
NON-TRADITIONAL UNDERGRADUATE: MALONE UNIVERSITY OFFERS A DEGREE COMPLETION OPTION TO ADULT LEARNERS WITH PRIOR UNDERGRADUATE COURSEWORK: MGMT (MALONE MANAGEMENT PROGRAM). STUDENTS CAN COMPLETE THEIR DEGREES IN AS LITTLE AS 12 MONTHS. THE ACCELERATED BACHELORS IN ORGANIZATIONAL MANAGEMENT PREPARES FOR ACTIVE LEADERSHIP ROLES IN CORPORATE, GOVERNMENT AND NON-PROFIT ENVIRONMENTS. FALL 2023 MGMT FTE ENROLLMENT WAS 6.3; HEADCOUNT WAS 10. MALONE UNIVERSITY OFFERS A NON DEGREE 18 MONTH CERTIFICATE PROGRAM IN PRACTICAL MINISTRY FOR THOSE WHO WISH TO BE EQUIPPED FOR PRACTICAL AND RELEVANT MINISTRY. FALL 2023 HEADCOUNT WAS 16.

Expenses $718,604 · Grants $19,621 · Revenue $54,386

As filed on the 2023 return.

Listed in Part VII

Greg MillerGREG MILLER

PRESIDENT

Total calculated

$246,794

From this org

$180,042

From related orgs

$0

Other

$66,752

Hours/week

40

Schedule J breakdown matched by us

Base

$132,042

Bonus

$48,000

Other

$0

Deferred

$15,209

Nontaxable benefits

$51,543

Filer's total

$246,794
Alice WilliamsALICE WILLIAMS

TREASURER

Total calculated

$0

Hours/week

1
Cathy AndersonCATHY ANDERSON

TRUSTEE

Total calculated

$0

Hours/week

1
Daniel MitchellDANIEL MITCHELL

TRUSTEE

Total calculated

$0

Hours/week

1
David MillerDAVID MILLER

TRUSTEE

Total calculated

$0

Hours/week

1
David MungoDAVID MUNGO

TRUSTEE

Total calculated

$0

Hours/week

1
Deborah NobleDEBORAH NOBLE

GOVERNANCE

Total calculated

$0

Hours/week

1
Deborah RobinsonDEBORAH ROBINSON

TRUSTEE

Total calculated

$0

Hours/week

1
Douglas SchwarzDOUGLAS SCHWARZ

TRUSTEE

Total calculated

$0

Hours/week

1
Edward WalshEDWARD WALSH

TRUSTEE

Total calculated

$0

Hours/week

1
Eric LundERIC LUND

TRUSTEE

Total calculated

$1,250

From this org

$1,250

From related orgs

$0

Other

$0

Hours/week

1
Geoff SchultzGEOFF SCHULTZ

TRUSTEE

Total calculated

$0

Hours/week

1
Jack RadcliffeJACK RADCLIFFE

TRUSTEE

Total calculated

$0

Hours/week

1
James MargoJAMES MARGO

TRUSTEE

Total calculated

$0

Hours/week

1
James SmuckerJAMES SMUCKER

TRUSTEE

Total calculated

$0

Hours/week

1
Jose UrrutiaJOSE URRUTIA

TRUSTEE

Total calculated

$0

Hours/week

1
Krista AllisonKRISTA ALLISON

TRUSTEE

Total calculated

$0

Hours/week

1
Lamar WyseLAMAR WYSE

TRUSTEE

Total calculated

$0

Hours/week

1
Larry SmergliaLARRY SMERGLIA

TRUSTEE

Total calculated

$0

Hours/week

1
Lyndon ThomasLYNDON THOMAS

TRUSTEE

Total calculated

$2,160

From this org

$2,160

From related orgs

$0

Other

$0

Hours/week

1
Marcie CurryMARCIE CURRY

TRUSTEE

Total calculated

$0

Hours/week

1
Marion CoblentzMARION COBLENTZ

TRUSTEE

Total calculated

$0

Hours/week

1
Martha MooneyMARTHA MOONEY

TRUSTEE

Total calculated

$0

Hours/week

1
Matthew SutterMATTHEW SUTTER

VICE CHAIR

Total calculated

$0

Hours/week

1
Pamela BurchPAMELA BURCH

TRUSTEE

Total calculated

$0

Hours/week

1
Rex BroadREX BROAD

TRUSTEE

Total calculated

$0

Hours/week

1
Samuel HuangSAMUEL HUANG

TRUSTEE

Total calculated

$0

Hours/week

1
Shari HansenSHARI HANSEN

CHAIR

Total calculated

$0

Hours/week

1
Susan GrabowskiSUSAN GRABOWSKI

SECRETARY

Total calculated

$0

Hours/week

1
Walter ArringtonWALTER ARRINGTON

TRUSTEE

Total calculated

$0

Hours/week

1
Brian HollingsworthBRIAN HOLLINGSWORTH

VP ADVANCEMENT

Total calculated

$126,348

From this org

$110,951

From related orgs

$0

Other

$15,397

Hours/week

40
Christina SchnydersCHRISTINA SCHNYDERS

PROVOST

Total calculated

$122,372

From this org

$105,710

From related orgs

$0

Other

$16,662

Hours/week

40
Eric YoungERIC YOUNG

VP ENROLLMENT & MARKETING

Total calculated

$98,742

From this org

$86,703

From related orgs

$0

Other

$12,039

Hours/week

40
Katie RobbinsKATIE ROBBINS

VP FINANCE & BUSINESS AFFAIRS

Total calculated

$168,015

From this org

$146,043

From related orgs

$0

Other

$21,972

Hours/week

40

Schedule J breakdown matched by us

Base

$132,870

Bonus

$13,173

Other

$0

Deferred

$21,348

Nontaxable benefits

$624

Filer's total

$168,015
Melody ScottMELODY SCOTT

VP STUDENT DEVELOPMENT

Total calculated

$107,739

From this org

$99,975

From related orgs

$0

Other

$7,764

Hours/week

40
David KingDAVID KING

FORMER PRESIDENT (END 06/22)

Total calculated

$208,051

From this org

$208,051

From related orgs

$0

Other

$0

Hours/week

0

Schedule J breakdown matched by us

Base

$181,686

Bonus

$0

Other

$26,365

Deferred

$0

Nontaxable benefits

$0

Filer's total

$208,051

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
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
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: PRESIDENT GREG MILLER RECEIVED TRAVEL FOR COMPANIONS IN ORDER TO FACILITATE MEETINGS WITH PROSPECTIVE DONORS. THIS IS FOR BUSINESS USE ONLY AND IS SUFFICIENTLY DOCUMENTED. IT IS NON-TAXABLE.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use: GREG MILLER, WHILE SERVING AS PRESIDENT OF THE UNIVERSITY, QUALIFIES AS A MINISTER UNDER THE MINISTERIAL EXCEPTION AND THEREFORE IS ELIGIBLE FOR THE HOUSING ALLOWANCE EXCLUSION FROM GROSS INCOME. THE PRESIDENT RECEIVED A NON-TAXABLE MONTHLY HOUSING ALLOWANCE TOTALING $36,000 FOR THE CALENDAR YEAR.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan: MALONE UNIVERSITY MAINTAINS A DEFERRED COMPENSATION 457(F) PLAN FOR FORMER PRESIDENT DAVID KING. THERE WERE NO CONTRIBUTIONS TO THE PLAN DURING THE FISCAL YEAR. THE PLAN WAS CLOSED AND THE VESTED AMOUNT OF $94,986 WAS DISBURSED TO DAVID KING DURING FYE 6/30/2024, CY 2023.

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: 2023
Filed: 9 May 2025
IRS schema version: 2023v6.0
Source object: 202521299349300732

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