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Nonprofiteer
← UNIVERSITY OF FINDLAY

Form 990 for tax year 2023

Filed by UNIVERSITY OF FINDLAY.

Totals

Total revenue
$152,498,287
Total expenses
$153,074,701
Contributions and grants received
$14,764,733
Grants paid
$60,236,699
Program service revenue
$127,980,696
Investment income
$2,659,850
Other revenue
$7,093,008
Total assets, end of year
$238,271,885
Total liabilities, end of year
$59,739,476
Net assets or fund balances, end of year
$178,532,409
Program services expenses (Part IX)
$137,148,770
Management and general expenses
$14,579,898
Fundraising expenses
$1,346,033
Program service expenses (Part III)
$137,148,770

Program services were 89.6% 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.

  • 1c · Fundraising events

    $57,750

  • 1e · Government grants (contributions)

    $8,358,261

  • 1f · All other contributions, gifts and grants

    $6,348,722

  • 1g · Noncash contributions included above

    $4,052,313

  • 2a · Program service revenue: TUITION AND FEES

    total $111,060,695 · related or exempt $111,060,695

  • 2b · Program service revenue: DORMITORIES

    total $7,515,497 · related or exempt $7,515,497

  • 2c · Program service revenue: DINING HALLS

    total $6,856,481 · related or exempt $6,856,481

  • 2d · Program service revenue: MISCELLANEOUS AUXILIARY

    total $2,035,913 · related or exempt $1,561,044 · unrelated business $474,869

  • 2e · Program service revenue: CAMPUS STORE

    total $351,942 · related or exempt $351,942

  • 2f · All other program service revenue

    total $160,168 · related or exempt $160,168 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,400,513 · unrelated business $14,895 · excluded $2,385,618

  • 6a · Gross rents

    real property $135,909

  • 6b · Less rental expenses

    real property $99,063

  • 6c · Rental income or loss

    real property $36,846 · personal property $0

  • 6d · Net rental income or loss

    total $36,846 · excluded $36,846

  • 7a · Gross sales of assets other than inventory

    securities $9,350,272

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

    securities $9,090,935

  • 7c · Gain or loss

    securities $259,337 · other assets $0

  • 7d · Net gain or loss

    total $259,337 · excluded $259,337

  • 8a · Fundraising events: gross income

    $56,177

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

    $57,750

  • 8b · Fundraising events: direct expenses

    $72,639

  • 8c · Net income from fundraising events

    total -$16,462 · excluded -$16,462

  • 11a · Other revenue: Horse Farm Income

    total $1,799,301 · related or exempt $1,799,301

  • 11b · Other revenue: Print and Postal

    total $442,356 · related or exempt $442,356

  • 11c · Other revenue: MTM Pharmacy CONSULTING

    total $313,630 · related or exempt $313,630

  • 11d · All other revenue

    total $4,517,337 · related or exempt $4,517,337 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $7,072,624

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $60,236,699 · program services $60,236,699

  • 5 · Compensation of officers, directors and key employees

    total $1,838,558 · program services $0 · management and general $1,838,558 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $81,030 · management and general $81,030

  • 7 · Other salaries and wages

    total $39,081,844 · program services $34,690,617 · management and general $3,571,660 · fundraising $819,567

  • 8 · Pension plan contributions

    total $709,087 · program services $566,518 · management and general $135,171 · fundraising $7,398

  • 9 · Other employee benefits

    total $7,109,839 · program services $5,601,812 · management and general $1,344,846 · fundraising $163,181

  • 10 · Payroll taxes

    total $2,832,102 · program services $2,266,608 · management and general $518,246 · fundraising $47,248

  • 11b · Fees: legal

    total $102,785 · management and general $102,785

  • 11c · Fees: accounting

    total $110,441 · management and general $110,441

  • 11f · Fees: investment management

    total $317,130 · program services $5,844 · management and general $303,899 · fundraising $7,387

  • 11g · Fees: other

    total $8,431,374 · program services $7,341,273 · management and general $978,864 · fundraising $111,237

  • 12 · Advertising and promotion

    total $508,969 · program services $350,420 · management and general $158,549

  • 13 · Office expenses

    total $6,576,866 · program services $5,840,385 · management and general $719,607 · fundraising $16,874

  • 14 · Information technology

    total $2,035,334 · program services $1,809,096 · management and general $121,796 · fundraising $104,442

  • 16 · Occupancy

    total $2,896,693 · program services $2,199,493 · management and general $696,513 · fundraising $687

  • 17 · Travel

    total $4,028,728 · program services $3,631,424 · management and general $329,292 · fundraising $68,012

  • 19 · Conferences, conventions and meetings

    total $20,645 · management and general $20,645

  • 20 · Interest

    total $2,065,968 · program services $900,762 · management and general $1,165,206

  • 22 · Depreciation, depletion and amortization

    total $6,612,182 · program services $5,571,260 · management and general $1,040,922

  • 23 · Insurance

    total $914,175 · program services $150,984 · management and general $763,191

  • 24a · Other expenses: Contract Food Services

    total $4,425,093 · program services $4,425,093

  • 24b · Other expenses: Repairs and Maintenance

    total $1,322,093 · program services $1,063,946 · management and general $258,147

  • 24c · Other expenses: Bad Debt Expense

    total $217,129 · program services $217,129

  • 24d · Other expenses: Purchase for Resale

    total $199,817 · program services $7,388 · management and general $192,429

  • 24e · All other expenses

    total $400,120 · program services $272,019 · management and general $128,101 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,450,233 · end of year $4,923,616

  • 2 · Savings and temporary cash investments

    beginning of year $11,796,060 · end of year $7,205,370

  • 3 · Pledges and grants receivable

    beginning of year $4,162,803 · end of year $2,964,673

  • 4 · Accounts receivable

    beginning of year $2,573,216 · end of year $2,440,285

  • 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 $801,903 · end of year $364,140

  • 8 · Inventories for sale or use

    beginning of year $530,503 · end of year $362,834

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,907,823 · end of year $1,810,544

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

    $242,733,673

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

    $94,957,869

  • 10c · Land, buildings and equipment, net

    beginning of year $147,106,176 · end of year $147,775,804

  • 11 · Investments: publicly traded securities

    beginning of year $40,610,304 · end of year $47,882,682

  • 12 · Investments: other securities

    beginning of year $15,362,119 · end of year $18,066,485

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $8,918,327 · end of year $4,475,452

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,903,350 · end of year $9,650,895

  • 19 · Deferred revenue

    beginning of year $3,852,118 · end of year $4,222,524

  • 20 · Tax-exempt bond liabilities

    beginning of year $42,161,660 · end of year $40,907,732

  • 21 · Escrow or custodial account liability

    beginning of year $2,195,236 · end of year $2,063,757

  • 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 $1,795,995 · end of year $2,757,946

  • 25 · Other liabilities

    beginning of year $290,466 · end of year $136,622

  • 27 · Net assets without donor restrictions

    beginning of year $110,180,190 · end of year $105,967,585

  • 28 · Net assets with donor restrictions

    beginning of year $67,840,452 · end of year $72,564,824

Mission and programs · 2023

Mission

The mission of The University of Findlay is to equip our students for meaningful lives and productive careers.

  • UNIVERSITY OF FINDLAY IS A COMPREHENSIVE, PRIVATE UNIVERSITY THAT OFFERS BOTH UNDERGRADUATE AND GRADUATE STUDIES AND IS ACCREDITED BY THE HIGHER LEARNING COMMISSION. UNIVERSITY OF FINDLAY OFFERS MORE THAN 44 AREAS OF UNDERGRADUATE STUDY AND HAS A CURRENT UNDERGRADUATE ENROLLMENT OF NEARLY 2,040 STUDENTS. SOME OF THE MORE POPULAR UNDERGRADUATE PROGRAMS INCLUDE: BUSINESS (278 STUDENTS), EDUCATION (153 STUDENTS), HEALTH PROFESSIONS (388 STUDENTS), PHARMACY (115 STUDENTS), LIBERAL ARTS (214 STUDENTS), NATURAL SCIENCE (860 STUDENTS) AND OTHER (32 STUDENTS). MANY OF THE UNIVERSITY'S PROGRAMS HAVE A NATIONAL REPUTATION INCLUDING PRE-VETERINARY MEDICINE AND EQUESTRIAN STUDIES. UNIVERSITY OF FINDLAY OFFERS A VARIETY OF GRADUATE PROGRAMS INCLUDING: MASTERS OF BUSINESS (171 STUDENTS), EDUCATION (216 STUDENTS), HEALTH PROFESSIONS SUCH AS PHYSICAL THERAPY, OCCUPATIONAL THERAPY, ATHLETIC TRAINING, PHYSICIAN ASSISTANT, AND HEALTH INFORMATICS (483 STUDENTS), PHARMACY (134 STUDENTS), LIBERAL STUDIES (27 STUDENTS) AND SCIENCE (90 STUDENTS). TOTAL GRADUATE STUDENTS CURRENTLY ENROLLED ARE MORE THAN 1,122.

    Expenses $127,437,664 · Grants $60,236,699 · Revenue $120,169,232

  • UNIVERSITY OF FINDLAY HAS MANY AUXILIARY DEPARTMENTS THAT PROVIDE SERVICES TO THEIR STUDENTS, THESE AUXILIARY DEPARTMENTS INCLUDE DORMITORIES FOR STUDENT LIVING, DINING HALLS, CAMPUS STORES FOR STUDENTS AND THE UNIVERSITY'S ON-CAMPUS VETERINARY CLINIC.

    Expenses $9,711,106 · Revenue $14,409,219

As filed on the 2023 return.

Listed in Part VII

  • Chris Ostrander

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Michael Harrington

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Andrew Draper

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Angela Briggs

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Angela Brown

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bill Kose

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bill Reist

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Billy Watterson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brant Rhoad

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brian Partee

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brian Young

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Charles Bills

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Cheryl Buckland

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Chuck Daniels

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Clifford Cook

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Craig Crotteau

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Don Manley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Joey Huang

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lance Finley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lisa Vignerot

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lynn Child

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Marian Lowe

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Melissa Duflock

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Paul Palmer

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Phil Kortokrax

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Philip Scott

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Renee Smith

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Payne

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Tim Nesler

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Tod Beckett

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Tom Reineke

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth B Ditto

    Executive Assistant to the President / Secretary

    Total calculated
    $93,376
    From this org
    $77,969
    From related orgs
    $0
    Other
    $15,407
    Hours/week
    40

  • Katherine R Fell

    President

    Total calculated
    $419,438
    From this org
    $341,946
    From related orgs
    $0
    Other
    $77,492
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,061
    Bonus
    $0
    Other
    $54,885
    Deferred
    $9,301
    Nontaxable benefits
    $68,191
    Filer's total
    $419,438

  • Kimberly Williams

    Treasurer / CFO

    Total calculated
    $191,090
    From this org
    $176,806
    From related orgs
    $0
    Other
    $14,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,806
    Bonus
    $0
    Other
    $0
    Deferred
    $4,459
    Nontaxable benefits
    $9,825
    Filer's total
    $191,090

  • Anne Kenworthy

    Vice President for Enrollment & Marketing

    Total calculated
    $188,772
    From this org
    $158,065
    From related orgs
    $0
    Other
    $30,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,065
    Bonus
    $0
    Other
    $0
    Deferred
    $4,250
    Nontaxable benefits
    $26,457
    Filer's total
    $188,772

  • Darin Fields

    VP of Academic Affairs

    Total calculated
    $225,756
    From this org
    $197,004
    From related orgs
    $0
    Other
    $28,752
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,004
    Bonus
    $0
    Other
    $0
    Deferred
    $5,122
    Nontaxable benefits
    $23,630
    Filer's total
    $225,756

  • Raymond McCandless

    VP of Information Technology

    Total calculated
    $180,235
    From this org
    $152,760
    From related orgs
    $0
    Other
    $27,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,760
    Bonus
    $0
    Other
    $0
    Deferred
    $4,016
    Nontaxable benefits
    $23,459
    Filer's total
    $180,235

  • Brandi Laurita

    Vice President for Student Affairs and Athletics

    Total calculated
    $178,905
    From this org
    $142,499
    From related orgs
    $0
    Other
    $36,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,097
    Bonus
    $0
    Other
    $6,402
    Deferred
    $3,695
    Nontaxable benefits
    $32,711
    Filer's total
    $178,905

  • Debra Parker

    Dean, College of Pharmacy

    Total calculated
    $244,359
    From this org
    $208,012
    From related orgs
    $0
    Other
    $36,347
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,012
    Bonus
    $0
    Other
    $0
    Deferred
    $5,435
    Nontaxable benefits
    $30,912
    Filer's total
    $244,359

  • Kenneth McIntyre

    VP of Advancement

    Total calculated
    $173,333
    From this org
    $136,065
    From related orgs
    $0
    Other
    $37,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,065
    Bonus
    $0
    Other
    $0
    Deferred
    $3,858
    Nontaxable benefits
    $33,410
    Filer's total
    $173,333

  • Lori Ernsthausen

    Associate Professor and Associate Dean

    Total calculated
    $165,787
    From this org
    $140,029
    From related orgs
    $0
    Other
    $25,758
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,029
    Bonus
    $0
    Other
    $0
    Deferred
    $3,684
    Nontaxable benefits
    $22,074
    Filer's total
    $165,787

  • Ryan Schneider

    Assoc. Professor, Assoc. Dean, and Dept. Chair

    Total calculated
    $160,073
    From this org
    $145,469
    From related orgs
    $0
    Other
    $14,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,469
    Bonus
    $0
    Other
    $0
    Deferred
    $3,680
    Nontaxable benefits
    $10,924
    Filer's total
    $160,073

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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
THE PRESIDENT'S SPOUSE ACCOMPANIES HER ON EVENTS DEEMED TO BE A BONA FIDE BUSINESS PURPOSE FOR THE UNIVERSITY. AS SUCH, THESE ARE NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
The president is required to live on campus as a condition of employment. This benefit is considered nontaxable pursuant to IRC Section 119. An estimated value of the benefit was reported for the President in the amount of $41,820.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees
THE UNIVERSITY PAYS FOR THE DUES AND HOSPITALITY EXPENSES AT THE FINDLAY COUNTRY CLUB FOR THE PRESIDENT AND VICE PRESIDENT OF STUDENT AFFAIRS AND ATHLETICS TO CULTIVATE POTENTIAL DONORS. A PORTION OF THIS BENEFIT IS DEEMED TO BE FOR BUSINESS USE AND IS TREATED AS NONTAXABLE COMPENSATION. A SEPARATE PORTION OF THIS BENEFIT IS DEEMED TO BE FOR PERSONAL USE AND IS TREATED AS TAXABLE COMPENSATION.

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.

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.

  • MILLSIX COMPANY

    S Corporation · REAL ESTATE RENTAL · OH · 100% owned · share of income $2,785 · share of assets $30,962 · controlled entity

    Directly controlled by UNIVERSITY OF FINDLAY

Provenance

Return type
form_990
Tax year
2023
Filed
12 June 2025
IRS schema version
2023v6.0
Source object
202511639349300506

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