Form 990 for tax year 2023
Filed by MIDWESTERN UNIVERSITY PROPERTIES CORP.
Totals
- Total revenue
- $480,942
- Total expenses
- $406,546
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $480,942
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $6,183,319
- Total liabilities, end of year
- $547,998
- Net assets or fund balances, end of year
- $5,635,321
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $0
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.
-
2a · Program service revenue: STUDENT hOUSING
total $480,942 · related or exempt $480,942
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
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.
-
11g · Fees: other
total $0
-
16 · Occupancy
total $27,070
-
20 · Interest
total $273,492
-
22 · Depreciation, depletion and amortization
total $101,614
-
23 · Insurance
total $4,370
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
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 $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$8,731,558
-
10b · Land, buildings and equipment: accumulated depreciation
$2,567,604
-
10c · Land, buildings and equipment, net
beginning of year $6,265,568 · end of year $6,163,954
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $19,365 · end of year $19,365
-
17 · Accounts payable and accrued expenses
beginning of year $0 · end of year $0
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $42,518 · end of year $8,351
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
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 $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $681,490 · end of year $539,647
-
27 · Net assets without donor restrictions
beginning of year $5,560,925 · end of year $5,635,321
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
TITLE HOLDING COMPANY FOR AN EXEMPT ORGANIZATION.
-
MWU PROPERTIES CORP. HOLDS TITLE TO PROPERTY FOR MIDWESTERN UNIVERSITY, WHICH PROVIDES GRADUATE AND POST-GRADUATE EDUCATION IN THE HEALTH SCIENCES.
As filed on the 2023 return.
Listed in Part VII
-
Kathleen H Goeppinger PhDKATHLEEN H GOEPPINGER PHD
PRESIDENT / CEO / DIRECTOR
- Total calculated
- $1,878,648
- From this org
- $0
- From related orgs
- $1,826,086
- Other
- $52,562
- Hours/week
- 0 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $973,199 related
- Bonus
- $0 + $606,015 related
- Other
- $0 + $246,872 related
- Deferred
- $0 + $33,000 related
- Nontaxable benefits
- $0 + $19,562 related
- Filer's total
- $0 + $1,878,648 related
-
John LadowiczJOHN LADOWICZ
VICE CHAIRPERSON / DIRECTOR
- Total calculated
- $0
- Hours/week
- 0 + 1 related
-
Kenneth R HerlinKENNETH R HERLIN
CHAIRPERSON / DIRECTOR
- Total calculated
- $0
- Hours/week
- 0 + 2 related
-
Gregory L O'CoyneGREGORY L O'COYNE
VP FINANCE
- Total calculated
- $527,115
- From this org
- $0
- From related orgs
- $464,769
- Other
- $62,346
- Hours/week
- 0 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $332,210 related
- Bonus
- $0 + $122,912 related
- Other
- $0 + $9,647 related
- Deferred
- $0 + $33,000 related
- Nontaxable benefits
- $0 + $29,346 related
- Filer's total
- $0 + $527,115 related
-
Matthew J SweeneyMATTHEW J SWEENEY
ASSISTANT TREASURER/CFO/VP
- Total calculated
- $771,890
- From this org
- $0
- From related orgs
- $708,646
- Other
- $63,244
- Hours/week
- 0 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $435,042 related
- Bonus
- $0 + $240,375 related
- Other
- $0 + $33,229 related
- Deferred
- $0 + $33,000 related
- Nontaxable benefits
- $0 + $30,244 related
- Filer's total
- $0 + $771,890 related
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
- THE PROPERTIES CORP RELIES ON MIDWESTERN UNIVERSITY TO DETERMINE COMPENSATION OF THE ORGANIZATION'S CEO. MIDWESTERN UNIVERSITY USED THE FOLLOWING METHODS TO DETERMINE COMPENSATION OF THE CEO: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
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.
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.
-
501(c)(3) · HIGHER EDUCATION · IL
Directly controlled by NA
-
MIDWESTERN UNIVERSITY FOUNDATION
501(c)(3) · SUPPORT MIDWESTERN UNIVERSITY · IL
Directly controlled by Midwestern University
-
MIDWESTERN UNIVERSITY HOSPITALS & MEDICAL CENTERS
501(c)(3) · INACTIVE · IL
Directly controlled by MIDWESTERN UNIVERSITY
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.
-
OSTEOPATHIC MANAGEMENT ENTERPRISES INC
C Corporation · INACTIVE · IL
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531349349312373
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