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Nonprofiteer
← FRIENDS UNIVERSITY

Form 990 for tax year 2023

Filed by FRIENDS UNIVERSITY.

Totals

Total revenue
$54,860,812
Total expenses
$53,173,355
Contributions and grants received
$3,674,466
Grants paid
$16,114,796
Program service revenue
$39,986,191
Investment income
$3,782,835
Other revenue
$7,417,320
Total assets, end of year
$125,122,447
Total liabilities, end of year
$6,150,047
Net assets or fund balances, end of year
$118,972,400
Program services expenses (Part IX)
$47,783,468
Management and general expenses
$4,584,382
Fundraising expenses
$805,505
Program service expenses (Part III)
$47,783,468

Program services were 89.9% 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)

    $1,148,120

  • 1f · All other contributions, gifts and grants

    $2,526,346

  • 1g · Noncash contributions included above

    $128,556

  • 2a · Program service revenue: TUITION & FEES

    total $35,096,239 · related or exempt $35,096,239

  • 2b · Program service revenue: AUXILIARY

    total $4,482,590 · related or exempt $4,482,590

  • 2c · Program service revenue: SALES & SERVICES

    total $302,848 · related or exempt $302,848

  • 2f · All other program service revenue

    total $104,514 · related or exempt $104,514 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,329,954 · unrelated business $1,793 · excluded $1,328,161

  • 5 · Royalties

    total $82,410 · excluded $82,410

  • 6a · Gross rents

    real property $52,705

  • 6b · Less rental expenses

    real property $2,992

  • 6c · Rental income or loss

    real property $49,713 · personal property $0

  • 6d · Net rental income or loss

    total $49,713 · excluded $49,713

  • 7a · Gross sales of assets other than inventory

    securities $16,815,304 · other assets $269

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

    securities $14,362,692

  • 7c · Gain or loss

    securities $2,452,612 · other assets $269

  • 7d · Net gain or loss

    total $2,452,881 · excluded $2,452,881

  • 11a · Other revenue: EXPENDED FOR EQUIPMENT

    total $7,194,788 · excluded $7,194,788

  • 11b · Other revenue: CHANNEL LEASE REVENUE

    total $77,487 · excluded $77,487

  • 11c · Other revenue: VENDING REVENUE

    total $12,922 · excluded $12,922

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $7,285,197

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $16,114,796 · program services $16,114,796

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $627,575 · management and general $627,575

  • 7 · Other salaries and wages

    total $13,095,733 · program services $11,827,906 · management and general $923,306 · fundraising $344,521

  • 8 · Pension plan contributions

    total $409,452 · program services $373,867 · management and general $24,695 · fundraising $10,890

  • 9 · Other employee benefits

    total $1,430,464 · program services $1,207,739 · management and general $181,030 · fundraising $41,695

  • 10 · Payroll taxes

    total $969,388 · program services $841,070 · management and general $103,819 · fundraising $24,499

  • 11b · Fees: legal

    total $35,885 · management and general $35,885

  • 11c · Fees: accounting

    total $87,189 · management and general $87,189

  • 11e · Fees: professional fundraising services

    total $164,690 · fundraising $164,690

  • 11f · Fees: investment management

    total $213,679 · management and general $213,679

  • 11g · Fees: other

    total $7,862,937 · program services $7,387,416 · management and general $449,107 · fundraising $26,414

  • 12 · Advertising and promotion

    total $292,567 · program services $279,480 · management and general $8,187 · fundraising $4,900

  • 13 · Office expenses

    total $1,337,556 · program services $754,473 · management and general $536,492 · fundraising $46,591

  • 16 · Occupancy

    total $4,500,768 · program services $3,597,263 · management and general $818,209 · fundraising $85,296

  • 17 · Travel

    total $782,448 · program services $720,623 · management and general $58,103 · fundraising $3,722

  • 19 · Conferences, conventions and meetings

    total $56,537 · program services $47,516 · management and general $9,021

  • 20 · Interest

    total $69,880 · program services $62,892 · management and general $6,988

  • 22 · Depreciation, depletion and amortization

    total $1,784,176 · program services $1,605,758 · management and general $178,418

  • 23 · Insurance

    total $528,423 · program services $475,581 · management and general $52,842

  • 24a · Other expenses: STUDENT BOARD PLAN

    total $1,356,703 · program services $1,356,703

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $329,058 · program services $328,244 · management and general $814

  • 24c · Other expenses: MEALS

    total $213,892 · program services $193,033 · management and general $8,825 · fundraising $12,034

  • 24d · Other expenses: DUES

    total $192,191 · program services $116,211 · management and general $72,891 · fundraising $3,089

  • 24e · All other expenses

    total $717,368 · program services $492,897 · management and general $187,307 · fundraising $37,164

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,294 · end of year $2,327

  • 2 · Savings and temporary cash investments

    beginning of year $2,517,653 · end of year $1,885,169

  • 3 · Pledges and grants receivable

    beginning of year $615,000 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,938,095 · end of year $2,281,825

  • 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

  • 8 · Inventories for sale or use

    beginning of year $32,957 · end of year $34,191

  • 9 · Prepaid expenses and deferred charges

    beginning of year $285,696 · end of year $80,069

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

    $93,421,958

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

    $45,876,341

  • 10c · Land, buildings and equipment, net

    beginning of year $41,497,678 · end of year $47,545,617

  • 11 · Investments: publicly traded securities

    beginning of year $54,847,333 · end of year $45,754,117

  • 12 · Investments: other securities

    beginning of year $8,607,429 · end of year $17,859,225

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $9,140,654 · end of year $9,679,907

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,353,305 · end of year $1,681,153

  • 19 · Deferred revenue

    beginning of year $852,016 · end of year $760,432

  • 20 · Tax-exempt bond liabilities

    beginning of year $1,864,695 · end of year $1,870,809

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $600,000

  • 25 · Other liabilities

    beginning of year $1,397,672 · end of year $1,237,653

  • 27 · Net assets without donor restrictions

    beginning of year $58,886,390 · end of year $64,148,683

  • 28 · Net assets with donor restrictions

    beginning of year $55,131,711 · end of year $54,823,717

Mission and programs · 2023

Mission

FRIENDS UNIVERSITY, A CHRISTIAN UNIVERSITY OF QUAKER HERITAGE, EQUIPS STUDENTS TO HONOR GOD AND SERVE OTHERS BY INTEGRATING THEIR INTELLECTUAL, SPIRITUAL, AND PROFESSIONAL LIVES.

Activities or mission (Part I)

FRIENDS UNIVERSITY, A CHRISTIAN UNIVERSITY OF QUAKER HERITAGE, EQUIPS STUDENTS TO HONOR GOD AND SERVE OTHERS.

  • THE COLLEGE OF BUSINESS, ARTS, SCIENCES, AND EDUCATION IS THE TRADITIONAL UNDERGRADUATE LIBERAL ARTS COLLEGE. STUDENTS RECEIVE A BROAD-BASED EDUCATION AND ARE GIVEN OPPORTUNITIES TO APPLY THEIR EDUCATION AND INTEGRATE THAT EDUCATION BEYOND THE CLASSROOM THROUGH INTERNSHIPS, RESEARCH PROJECTS, STUDY ABROAD, PARTICIPATION IN ATHLETICS, OR PERFORMING ARTS AND IN STUDENT ORGANIZATIONS. FALL 2023 ENROLLMENT WAS 890.

    Expenses $40,123,733 · Grants $16,039,075 · Revenue $33,720,175

  • ADULT UNDERGRADUATE ONLINE PROGRAMS ARE DESIGNED FOR BUSY PEOPLE WHO PREFER AN ONLINE COLLEGE EXPERIENCE THROUGH OUR FLEX DEGREE PATHWAYS. THE COLLEGE IS COMMITTED TO PROVIDING ACADEMIC EXCELLENCE FOR A DIVERSE COMMUNITY OF LIFELONG LEARNERS. UNDERGRADUATE STUDENTS ARE ADMITTED BASED ON THEIR POTENTIAL FOR ACHIEVING ACADEMIC SUCCESS. FALL 2023 ENROLLMENT WAS 125.

    Expenses $3,695,598 · Grants $19,127 · Revenue $832,679

  • THE MISSION OF THE GRADUATE COLLEGE IS TO PROVIDE A HIGH-QUALITY LEARNING ENVIRONMENT FOR STUDENTS SEEKING PROFESSIONAL GRADUATE EDUCATION. FALL 2023 ENROLLMENT WAS 373.

    Expenses $3,459,987 · Grants $53,444 · Revenue $5,147,935

  • FRIENDSHIP FIELDS IS A POST SECONDARY OPTION FOR SPED STUDENTS THAT ALLOWS ADULTS WITH DISABILITIES TO EXPERIENCE COLLEGE LIFE WHILE ALSO OFFERING FRIENDS UNIVERSITY STUDENTS THE OPPORTUNITY TO WORK WITH SPECIAL NEEDS ADULTS. THE APPRENTICE INSTITUTE PROMOTES HIGHER-LEVEL THINKING, DEEPER CONVERSATION AND A CREATIVE TRACK FOR GROWING CLOSER TO GOD BY PLACING A GREATER EMPHASIS ON SPIRITUALITY, EVANGELISM AND SPIRITUAL FORMATION BY EQUIPPING AND ENCOURAGING PEOPLE TO LIVE GOOD AND BEAUTIFUL LIVES THAT WILL CHANGE THE WORLD AROUND THEM.

    Expenses $504,150 · Grants $3,150 · Revenue $285,402

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Amy Carey

    TRUSTEE/PRESIDENT

    Total calculated
    $338,273
    From this org
    $269,562
    From related orgs
    $0
    Other
    $68,711
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $263,558
    Bonus
    $0
    Other
    $6,004
    Deferred
    $13,575
    Nontaxable benefits
    $55,136
    Filer's total
    $338,273

  • Dr John Lewis

    TRUSTEE/VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Dr Thayne Thompson

    TRUSTEE/CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Lynn Ghormley

    TRUSTEE/SECRETARY - ENDING OCTOBER 2023

    Total calculated
    $0
    Hours/week
    5

  • Regina Miller

    TRUSTEE/PT YEAR SECRETARY - BEGINNING OCTOBER 2023

    Total calculated
    $0
    Hours/week
    5

  • Robert Casper

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Brent Edmisten

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Craig Bay

    TRUSTEE - ENDING OCTOBER 2023

    Total calculated
    $0
    Hours/week
    1

  • Dr Kent Walkemeyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Kevin Hoppock

    TRUSTEE - BEGINNING OCTOBER 2023

    Total calculated
    $0
    Hours/week
    1

  • G Alex Melugin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Gil Alvarez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James Nagy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jana McDaniel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeff Ramsey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kevin Henderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Dugger Attwater

    TRUSTEE - BEGINNING OCTOBER 2023

    Total calculated
    $0
    Hours/week
    1

  • Matthew Shepherd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nathan Foreman

    TRUSTEE - BEGINNING FEBRUARY 2024

    Total calculated
    $0
    Hours/week
    1

  • Paul Moore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Renae Ryan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Shannon Bohm

    TRUSTEE - BEGINNING FEBRUARY 2024

    Total calculated
    $0
    Hours/week
    1

  • Vickie Young Beam

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ken Stoltzfus

    VP, ACADEMIC AFFAIRS

    Total calculated
    $155,456
    From this org
    $138,654
    From related orgs
    $0
    Other
    $16,802
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $137,970
    Bonus
    $0
    Other
    $684
    Deferred
    $7,100
    Nontaxable benefits
    $9,702
    Filer's total
    $155,456

  • Scott Frey

    VP, FINANCE - BEGINNING SEPTEMBER 2023

    Total calculated
    $44,612
    From this org
    $42,365
    From related orgs
    $0
    Other
    $2,247
    Hours/week
    50

  • Vernon Dolezal

    VP, FINANCE - ENDING AUGUST 2023

    Total calculated
    $104,742
    From this org
    $84,927
    From related orgs
    $0
    Other
    $19,815
    Hours/week
    50

  • Brianna Boulanger

    VP,ADVANCEMENT AND MARKETING

    Total calculated
    $135,623
    From this org
    $101,149
    From related orgs
    $0
    Other
    $34,474
    Hours/week
    50

  • Paul Ramseyer

    VP, ATHLETICS AND STRATEGIC ADVANCEMENT

    Total calculated
    $132,518
    From this org
    $103,049
    From related orgs
    $0
    Other
    $29,469
    Hours/week
    50

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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
TRAVEL FOR COMPANIONS: THE COLLEGE PROVIDED TRAVEL EXPENSES FOR THE PRESIDENT'S SPOUSE TO EVENTS THROUGHOUT THE YEAR. THESE ITEMS ARE NOT REPORTED ON A W-2 AS LONG AS THERE IS A BONAFIDE BUSINESS PURPOSE FOR THE SPOUSE TO PARTICIPATE IN THE EVENT.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
THE UNIVERSITY PRESIDENT IS REQUIRED BY CONTRACT TO LIVE IN A UNIVERSITY-PROVIDED HOUSE ADJACENT TO CAMPUS. THE HOUSING ALLOWANCE BENEFIT IS NOT CONSIDERED TAXABLE TO THE PRESIDENT.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees
THE UNIVERSITY PAID ONE CLUB MEMBERSHIP FOR THE PRESIDENT; PORTIONS OF USE ARE CONSIDERED TAXABLE AND REPORTED AS INCOME ON THE PRESIDENT'S FORM W-2.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349312653

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