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Nonprofiteer
← ALVERNO COLLEGE

Form 990 for tax year 2022

Filed by ALVERNO COLLEGE.

Totals

Total revenue
$41,560,381
Total expenses
$55,098,893
Contributions and grants received
$5,719,781
Grants paid
$11,291,845
Program service revenue
$35,227,517
Investment income
$613,083
Other revenue
$0
Total assets, end of year
$93,867,906
Total liabilities, end of year
$25,986,968
Net assets or fund balances, end of year
$67,880,938
Program services expenses (Part IX)
$48,832,268
Management and general expenses
$5,381,864
Fundraising expenses
$884,761
Program service expenses (Part III)
$48,832,268

Program services were 88.6% 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.

  • 1e · Government grants (contributions)

    $2,589,450

  • 1f · All other contributions, gifts and grants

    $3,130,331

  • 1g · Noncash contributions included above

    $60,418

  • 2a · Program service revenue: TUITION AND FEES

    total $31,677,668 · related or exempt $31,677,668

  • 2b · Program service revenue: AUXILIARY ENTERPRISES

    total $3,244,409 · related or exempt $3,244,409

  • 2c · Program service revenue: OTHER INCOME

    total $305,440 · related or exempt $305,440

  • 3 · Investment income

    total $1,172,344 · unrelated business $23,891 · excluded $1,148,453

  • 7a · Gross sales of assets other than inventory

    securities $24,267,877 · other assets $372,249

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

    securities $24,455,241 · other assets $744,146

  • 7c · Gain or loss

    securities -$187,364 · other assets -$371,897

  • 7d · Net gain or loss

    total -$559,261 · excluded -$559,261

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $11,291,845 · program services $11,291,845

  • 5 · Compensation of officers, directors and key employees

    total $1,236,389 · program services $368,821 · management and general $665,464 · fundraising $202,104

  • 7 · Other salaries and wages

    total $17,572,107 · program services $16,632,811 · management and general $556,639 · fundraising $382,657

  • 8 · Pension plan contributions

    total $603,968 · program services $565,350 · management and general $14,618 · fundraising $24,000

  • 9 · Other employee benefits

    total $2,927,617 · program services $967,932 · management and general $1,915,009 · fundraising $44,676

  • 10 · Payroll taxes

    total $1,365,993 · program services $1,227,877 · management and general $96,649 · fundraising $41,467

  • 11b · Fees: legal

    total $42,185 · management and general $42,185

  • 11c · Fees: accounting

    total $52,375 · management and general $52,375

  • 11e · Fees: professional fundraising services

    total $47,834 · fundraising $47,834

  • 11f · Fees: investment management

    total $128,943 · management and general $128,943

  • 11g · Fees: other

    total $5,129,550 · program services $4,216,054 · management and general $913,496

  • 12 · Advertising and promotion

    total $780,987 · program services $780,606 · fundraising $381

  • 13 · Office expenses

    total $2,383,498 · program services $2,163,632 · management and general $93,502 · fundraising $126,364

  • 14 · Information technology

    total $3,241,121 · program services $3,223,150 · management and general $17,085 · fundraising $886

  • 16 · Occupancy

    total $2,431,623 · program services $2,255,589 · management and general $176,034

  • 17 · Travel

    total $290,335 · program services $268,104 · management and general $14,106 · fundraising $8,125

  • 20 · Interest

    total $679,220 · program services $517,324 · management and general $157,329 · fundraising $4,567

  • 22 · Depreciation, depletion and amortization

    total $4,001,259 · program services $4,001,109 · management and general $150

  • 24a · Other expenses: BAD DEBT

    total $465,209 · program services $16,675 · management and general $448,534

  • 24b · Other expenses: MEMBERSHIP DUES

    total $219,229 · program services $136,360 · management and general $81,169 · fundraising $1,700

  • 24c · Other expenses: COVID EXPENSES

    total $207,606 · program services $199,029 · management and general $8,577

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $201,188 · end of year $336,983

  • 2 · Savings and temporary cash investments

    beginning of year $11,386,172 · end of year $6,050,141

  • 3 · Pledges and grants receivable

    beginning of year $4,657,812 · end of year $4,077,129

  • 4 · Accounts receivable

    beginning of year $2,118,656 · end of year $1,878,448

  • 7 · Other notes and loans receivable

    beginning of year $869,077 · end of year $542,801

  • 8 · Inventories for sale or use

    beginning of year $120,416 · end of year $107,397

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,811,219 · end of year $1,967,914

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

    $107,764,075

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

    $72,772,951

  • 10c · Land, buildings and equipment, net

    beginning of year $38,108,995 · end of year $34,991,124

  • 11 · Investments: publicly traded securities

    beginning of year $36,930,036 · end of year $34,936,564

  • 12 · Investments: other securities

    beginning of year $7,801,937 · end of year $8,030,168

  • 15 · Other assets

    beginning of year $945,344 · end of year $949,237

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,429,215 · end of year $5,240,539

  • 18 · Grants payable

    beginning of year $740,165 · end of year $446,368

  • 19 · Deferred revenue

    beginning of year $3,555,950 · end of year $3,325,747

  • 20 · Tax-exempt bond liabilities

    beginning of year $8,859,744 · end of year $7,672,849

  • 25 · Other liabilities

    beginning of year $9,042,141 · end of year $9,301,465

  • 27 · Net assets without donor restrictions

    beginning of year $45,654,394 · end of year $35,371,076

  • 28 · Net assets with donor restrictions

    beginning of year $31,669,243 · end of year $32,509,862

Mission and programs · 2022

Mission

ALVERNO COLLEGE PREPARES WOMEN FOR LIVES OF PERSONAL AND PROFESSIONAL DISTINCTION AND MEANINGFUL ENGAGEMENT WITH THE WORLD. ALVERNO ALSO EXTENDS THIS MISSION BY OFFERING GRADUATE AND ADULT PROGRAMS TO WOMEN AND MEN.

Activities or mission (Part I)

ALVERNO OFFERS UNDERGRADUATE PROGRAMS FOR WOMEN, AND ADULT AND GRADUATE PROGRAMS FOR WOMEN & MEN.

  • HIGHER EDUCATION: ALVERNO COLLEGE IS A CATHOLIC, FRANCISCAN COLLEGE IN MILWAUKEE, WI, FOUNDED IN 1887 BY THE SCHOOL SISTERS OF ST. FRANCIS. THE COLLEGE WAS DESIGNATED A HISPANIC-SERVING INSTITUTION IN 2017, THE FIRST IN WI. ALVERNO'S 60-PLUS UNDERGRADUATE PROGRAM AREAS REFLECT MAJORS, MINORS, AND ADULT & DEGREE COMPLETION PROGRAMS. THEY ARE CONTAINED IN FOUR SCHOOLS: THE SCHOOL OF PROFESSIONAL STUDIES; JOANN MCGRATH SCHOOL OF NURSING AND HEALTH PROFESSIONS; SCHOOL OF ARTS AND SCIENCES; AND SCHOOL OF ADULT LEARNING AND NEW INITIATIVES. ALVERNO OFFERS GRADUATE PROGRAMS FOR WOMEN AND MEN: A MASTER OF ARTS IN EDUCATION;MASTER OF BUSINESS ADMINISTRATION;MASTER OF MUSIC THERAPY AND LITURGY & MUSIC; MASTER OF SCIENCE IN SCHOOL & COMMUNITY PSYCHOLOGY; MASTER OF SCIENCE IN NURSING; AND DOCTORATE OF NURSING PRACTICE. ALVERNO ALSO OPERATES A GRADUATE DIRECT ENTRY MASTERS OF SCIENCE NURSING AND EDUCATION DOCTORATE DEGREE IN MESA, AZ.

    Expenses $48,832,268 · Grants $11,291,845 · Revenue $35,227,517

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Katherine M Hudson

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Kristine Obrecht

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • S Kathleen O'Brien

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Abigail J Nash

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alan Murphy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Barbara A Kluka

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    8

  • Bruce Myers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cecelia I Gore

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Donald W Layden Jr

    BOARD MEMBER (TERM 12/2023)

    Total calculated
    $0
    Hours/week
    2

  • Ellen Hopper

    BOARD MEMBER (JOINED 06/2023)

    Total calculated
    $0
    Hours/week
    1

  • Gina Spang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jacquelyn Fredrick

    BOARD MEMBER (TERM 06/2023)

    Total calculated
    $0
    Hours/week
    1

  • Jim McKeown

    BOARD MEMBER (TERM 06/2023)

    Total calculated
    $0
    Hours/week
    1

  • Jovita Carranza

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Flanagan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kathy McCormack

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mari-Anne Hechmann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Marianne Lubar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marie Golanowski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marsha Sehler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Richelle Webb Dixon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Venable

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • S Mary C Schneider

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • S Mary Diez

    BOARD MEMBER (JOINED 06/2023)

    Total calculated
    $0
    Hours/week
    1

  • Samatha Maldonado

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Syneathia Lagrant

    BOARD MEMBER (JOINED 03/2023)

    Total calculated
    $0
    Hours/week
    1

  • Tammy Belton-Davis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tia Vernon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tina Chang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joseph Foy

    INTERIM PRESIDENT (AS OF 07/2022)

    Total calculated
    $225,978
    From this org
    $209,215
    From related orgs
    $0
    Other
    $16,763
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,215
    Bonus
    $0
    Other
    $0
    Deferred
    $10,536
    Nontaxable benefits
    $6,227
    Filer's total
    $225,978

  • Dawn Peterson

    CFO

    Total calculated
    $172,142
    From this org
    $148,321
    From related orgs
    $0
    Other
    $23,821
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,321
    Bonus
    $0
    Other
    $0
    Deferred
    $6,967
    Nontaxable benefits
    $16,854
    Filer's total
    $172,142

  • Jill Desmond Ford

    VP & CHIEF OF STAFF (TERM 12/2022)

    Total calculated
    $153,281
    From this org
    $145,221
    From related orgs
    $0
    Other
    $8,060
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,221
    Bonus
    $0
    Other
    $0
    Deferred
    $7,252
    Nontaxable benefits
    $808
    Filer's total
    $153,281

  • Heidi Anderson-Isaacson

    VP OF STUDENT DEVELOPMENT & SUCCESS

    Total calculated
    $148,357
    From this org
    $122,354
    From related orgs
    $0
    Other
    $26,003
    Hours/week
    40

  • Katherine Lundeen

    VP OF ENROLLMENT & MARKETING

    Total calculated
    $131,409
    From this org
    $105,227
    From related orgs
    $0
    Other
    $26,182
    Hours/week
    40

  • Jodi Eastberg Interim Vp

    OF ACADEMIC AFFAIRS (AS OF 11/2022)

    Total calculated
    $127,961
    From this org
    $105,428
    From related orgs
    $0
    Other
    $22,533
    Hours/week
    40

  • Kimberly Muench Interim Vp

    OF ADVANCEMENT (AS OF 09/2022)

    Total calculated
    $113,424
    From this org
    $92,498
    From related orgs
    $0
    Other
    $20,926
    Hours/week
    40

  • Christa Shields

    VP OF ADVANCEMENT (TERM 09/2022)

    Total calculated
    $104,465
    From this org
    $98,023
    From related orgs
    $0
    Other
    $6,442
    Hours/week
    40

  • Laurie Kunkel-Jordan

    DEAN, SCHOOL OF NURSING

    Total calculated
    $164,181
    From this org
    $147,251
    From related orgs
    $0
    Other
    $16,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,251
    Bonus
    $0
    Other
    $0
    Deferred
    $7,689
    Nontaxable benefits
    $9,241
    Filer's total
    $164,181

  • Patricia Varga

    PROFESSOR OF NURSING

    Total calculated
    $130,210
    From this org
    $115,018
    From related orgs
    $0
    Other
    $15,192
    Hours/week
    40

  • Justin Lamanna

    PROFESSOR OF BIOLOGY

    Total calculated
    $125,608
    From this org
    $111,174
    From related orgs
    $0
    Other
    $14,434
    Hours/week
    40

  • Linda Shanta

    PROGRAM DIRECTOR DEMSN MESA

    Total calculated
    $121,813
    From this org
    $109,703
    From related orgs
    $0
    Other
    $12,110
    Hours/week
    40

  • Kristin Vasquez

    PROFESSOR OF PSYCHOLOGY

    Total calculated
    $113,353
    From this org
    $107,561
    From related orgs
    $0
    Other
    $5,792
    Hours/week
    40

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

  • 3 · Written employment contract

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

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.

  • SCHOOL SISTERS OF ST FRANCIS

    501(C)(3) · RELIGIOUS ORGANIZATION · WI

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349302136

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