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Nonprofiteer
← MIDWAY UNIVERSITY INC

Form 990 for tax year 2022

Filed by MIDWAY UNIVERSITY INC.

Totals

Total revenue
$36,181,711
Total expenses
$33,040,442
Contributions and grants received
$5,770,451
Grants paid
$9,635,321
Program service revenue
$29,998,716
Investment income
$288,614
Other revenue
$123,930
Total assets, end of year
$76,025,348
Total liabilities, end of year
$26,609,372
Net assets or fund balances, end of year
$49,415,976
Program services expenses (Part IX)
$28,500,154
Management and general expenses
$4,076,086
Fundraising expenses
$464,202
Program service expenses (Part III)
$28,500,154

Program services were 86.3% 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)

    $75,000

  • 1f · All other contributions, gifts and grants

    $5,695,451

  • 1g · Noncash contributions included above

    $92,985

  • 2a · Program service revenue: TUITION AND FEES

    total $25,883,902 · related or exempt $25,883,902

  • 2b · Program service revenue: AUXILIARY

    total $4,011,347 · unrelated business $121,729 · excluded $3,889,618

  • 2c · Program service revenue: CAFETERIA SALES

    total $103,467 · excluded $103,467

  • 3 · Investment income

    total $222,637 · excluded $222,637

  • 6a · Gross rents

    real property $15,551

  • 6b · Less rental expenses

    real property $6,534

  • 6c · Rental income or loss

    real property $9,017

  • 6d · Net rental income or loss

    total $9,017 · unrelated business $9,017

  • 7a · Gross sales of assets other than inventory

    securities $183,150 · other assets $8,349

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

    securities $0 · other assets $125,522

  • 7c · Gain or loss

    securities $183,150 · other assets -$117,173

  • 7d · Net gain or loss

    total $65,977 · excluded $65,977

  • 11a · Other revenue: OTHER INCOME

    total $114,913 · related or exempt $114,913

  • 11e · Other revenue, total

    $114,913

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $9,635,321 · program services $9,635,321

  • 5 · Compensation of officers, directors and key employees

    total $1,349,669 · program services $1,060,807 · management and general $249,243 · fundraising $39,619

  • 7 · Other salaries and wages

    total $8,172,665 · program services $6,432,757 · management and general $1,499,203 · fundraising $240,705

  • 8 · Pension plan contributions

    total $194,878 · program services $142,301 · management and general $45,249 · fundraising $7,328

  • 9 · Other employee benefits

    total $1,080,588 · program services $863,352 · management and general $193,425 · fundraising $23,811

  • 10 · Payroll taxes

    total $669,648 · program services $522,577 · management and general $128,237 · fundraising $18,834

  • 11b · Fees: legal

    total $19,861 · management and general $19,861

  • 11c · Fees: accounting

    total $75,250 · management and general $75,250

  • 11f · Fees: investment management

    total $162,835 · management and general $162,835

  • 11g · Fees: other

    total $3,585,339 · program services $3,553,502 · management and general $30,294 · fundraising $1,543

  • 12 · Advertising and promotion

    total $465,924 · program services $376,748 · management and general $83,861 · fundraising $5,315

  • 13 · Office expenses

    total $209,927 · program services $124,349 · management and general $85,578

  • 14 · Information technology

    total $502,592 · program services $27,023 · management and general $475,569

  • 16 · Occupancy

    total $924,745 · program services $671,461 · management and general $223,600 · fundraising $29,684

  • 17 · Travel

    total $800,950 · program services $614,307 · management and general $181,315 · fundraising $5,328

  • 20 · Interest

    total $429,571 · program services $399,502 · management and general $25,774 · fundraising $4,295

  • 22 · Depreciation, depletion and amortization

    total $1,943,958 · program services $1,833,163 · management and general $109,687 · fundraising $1,108

  • 23 · Insurance

    total $379,040 · program services $335,038 · management and general $44,002

  • 24a · Other expenses: MISCELLANEOUS

    total $509,417 · program services $448,812 · management and general $9,486 · fundraising $51,119

  • 24b · Other expenses: SUPPLIES

    total $496,045 · program services $413,410 · management and general $77,167 · fundraising $5,468

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $299,365 · program services $48,321 · management and general $251,044

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $287,743 · program services $287,743

  • 24e · All other expenses

    total $845,111 · program services $709,660 · management and general $105,406 · fundraising $30,045

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $61,804 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,502,752 · end of year $870,717

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $4,489,779

  • 4 · Accounts receivable

    beginning of year $12,503,427 · end of year $13,798,062

  • 7 · Other notes and loans receivable

    beginning of year $587,510 · end of year $599,094

  • 9 · Prepaid expenses and deferred charges

    beginning of year $332,500 · end of year $181,082

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

    $53,102,903

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

    $29,738,736

  • 10c · Land, buildings and equipment, net

    beginning of year $22,182,090 · end of year $23,364,167

  • 11 · Investments: publicly traded securities

    beginning of year $28,827,351 · end of year $31,501,873

  • 12 · Investments: other securities

    beginning of year $99,318 · end of year $141,343

  • 15 · Other assets

    beginning of year $127,672 · end of year $1,079,231

  • 17 · Accounts payable and accrued expenses

    beginning of year $875,314 · end of year $1,362,050

  • 19 · Deferred revenue

    beginning of year $12,999,806 · end of year $14,436,003

  • 23 · Secured mortgages and notes payable

    beginning of year $8,971,013 · end of year $9,804,504

  • 25 · Other liabilities

    beginning of year $321,133 · end of year $1,006,815

  • 27 · Net assets without donor restrictions

    beginning of year $24,969,305 · end of year $25,536,215

  • 28 · Net assets with donor restrictions

    beginning of year $18,087,853 · end of year $23,879,761

Mission and programs · 2022

Mission

MIDWAY UNIVERSITY IS AN ACCREDITED INSTITUTION OF HIGHER EDUCATION LOCATED IN MIDWAY, KENTUCKY, FOUNDED IN 1847 AS THE KENTUCKY FEMALE ORPHAN SCHOOL. THE INSTITUTION OFFERS TRADITIONAL PROGRAMS AS WELL AS ACCELERATED PROGRAMS IN THE EVENING AND ONLINE. DEGREES OFFERED INCLUDE ASSOCIATE, BACCALAUREATE AND MASTER'S DEGREES.

Activities or mission (Part I)

MIDWAY UNIVERSITY ENGAGES AND CHALLENGES STUDENTS TO ACHIEVE INDIVIDUAL GROWTH, RESPONSIBLE CITIZENSHIP, AND MEANINGFUL CAREERS THROUGH PERSONALIZED EDUCATIONAL EXPERIENCES.

  • MIDWAY UNIVERSITY OFFERS A LIBERAL ARTS FOUNDATION THROUGH A GENERAL EDUCATION CURRICULUM AND CAREER FOCUSED PREPARATION THROUGH MAJORS AT THE UNDERGRADUATE LEVEL. IN ADDITION, THE UNIVERSITY PROVIDES COEDUCATIONAL ACCELERATED ADULT UNDERGRADUATE AND GRADUATE PROGRAMS IN THE EVENINGS AT THE MAIN CAMPUS AND ONLINE. ALL PROGRAMS ARE INTENDED TO LEAD TO REWARDING CAREERS AND RESPONSIBLE CITIZENSHIP.

    Expenses $19,562,057 · Grants $9,635,321 · Revenue $25,883,902

  • THE UNIVERSITY PROVIDES ACADEMIC SUPPORT TO STUDENTS IN THE FORM OF ACADEMIC ADVISORS, ACADEMIC COUNSELING, AND LIBRARY AND COMPUTER SERVICES. THE UNIVERSITY'S 15 - 1 STUDENT-FACULTY RATIO ENSURES EASY ACCESS TO AND DEVELOPMENT OF GOOD RELATIONSHIPS WITH FACULTY.

    Expenses $1,037,501

  • THE UNIVERSITY PROVIDES STUDENTS WITH A NUMBER OF OPPORTUNITIES TO BECOME INVOLVED IN SOCIAL, RECREATIONAL, EDUCATIONAL, AND CULTURAL ACTIVITIES. ANNUAL EVENTS INCLUDE NIGHT OF LIGHTS, THE LAST SUPPER, MIDWAY CHRISTMAS VESPERS, AND GRADUATION FESTIVITIES. CHORALE CONCERTS AND STUDENT PRODUCTIONS ADD A CULTURAL DIMENSION TO CAMPUS LIFE. A NUMBER OF STUDENT ACTIVITIES AND ORGANIZATIONS PROVIDE STUDENTS WITH THE OPPORTUNITY TO SUPPLEMENT ACADEMIC LEARNING, SHARPEN LEADERSHIP SKILLS, AND ACTIVELY PARTICIPATE IN THE PROCESS OF PLANNING AND ORGANIZING PROGRAMS.

    Expenses $5,424,872

  • THE UNIVERSITY PROVIDES AUXILIARY SERVICES FOR STUDENTS AND FACULTY. THESE SERVICES INCLUDE FOOD SERVICES AND RESIDENCE HALL ACTIVITIES.

    Expenses $2,475,724 · Revenue $114,913

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

Listed in Part VII

  • Dr John P Marsden

    PRESIDENT

    Total calculated
    $576,852
    From this org
    $499,419
    From related orgs
    $0
    Other
    $77,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $499,419
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $65,233
    Filer's total
    $576,852

  • Leah Rice

    VICE PRESIDENT

    Total calculated
    $178,551
    From this org
    $160,821
    From related orgs
    $0
    Other
    $17,730
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,821
    Bonus
    $0
    Other
    $0
    Deferred
    $6,400
    Nontaxable benefits
    $11,330
    Filer's total
    $178,551

  • William Kennedy

    VICE PRESIDENT

    Total calculated
    $165,694
    From this org
    $152,223
    From related orgs
    $0
    Other
    $13,471
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,223
    Bonus
    $0
    Other
    $0
    Deferred
    $5,474
    Nontaxable benefits
    $7,997
    Filer's total
    $165,694

  • James Timothy Culver

    VICE PRESIDENT

    Total calculated
    $158,761
    From this org
    $139,379
    From related orgs
    $0
    Other
    $19,382
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,379
    Bonus
    $0
    Other
    $0
    Deferred
    $5,876
    Nontaxable benefits
    $13,506
    Filer's total
    $158,761

  • Diane Chlewbowy

    DEAN

    Total calculated
    $137,066
    From this org
    $123,108
    From related orgs
    $0
    Other
    $13,958
    Hours/week
    40

  • Carrie Christensen

    VICE PRESIDENT

    Total calculated
    $131,087
    From this org
    $119,993
    From related orgs
    $0
    Other
    $11,094
    Hours/week
    40

  • Mark Gill

    DEAN

    Total calculated
    $130,931
    From this org
    $105,624
    From related orgs
    $0
    Other
    $25,307
    Hours/week
    40

  • Ellen D Gregory

    VICE PRESIDENT

    Total calculated
    $127,908
    From this org
    $122,885
    From related orgs
    $0
    Other
    $5,023
    Hours/week
    40

  • Janice Holland

    PROFESSOR

    Total calculated
    $115,430
    From this org
    $110,839
    From related orgs
    $0
    Other
    $4,591
    Hours/week
    40

  • Donna M Campbell

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Belinda Metzger

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Linda L Green

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ieasha M Allen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mira Ball

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anne Bolton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anita M Britton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Virginia Fox

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Edie Green

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr J J Housley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Ardis Dee Hoven

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Janet L Hunter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bob M Hutchison

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth L Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christa Marrillia

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Keith Mathis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Herbert A Miller Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Linda S Pavey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Felicia S Quigg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr James P Roach

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Stuart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Larry B Taylor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Susan M Walden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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 · Tax indemnification and gross-up payments
  • 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 · 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)

PART I, LINE 1A
HEALTH AND SOCIAL CLUB DUES AND INITIATION FEES: SOCIAL CLUB DUES AND QUARTERLY REQUIRED MEAL FEES FOR THE PRESIDENT ARE PAID BY MIDWAY UNIVERSITY. THE PERSONAL PORTION OF THE DUES IS ADDED TO THE W-2 OF THE PRESIDENT. MIDWAY UNIVERSITY PROVIDES FOR MEALS TO THE PRESIDENT FOR ON-CAMPUS, BUSINESS ACTIVITIES DIRECTED BY THE BOARD. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: MIDWAY UNIVERSITY PROVIDES THE PINKERTON-ROUSE HOUSE, A HISTORICAL RESIDENCE, TO THE UNIVERSITY PRESIDENT, WHICH IS FURNISHED FOR THE CONVENIENCE OF THE UNIVERSITY AND IS REQUIRED AS A CONDITION OF THE PRESIDENT'S EMPLOYMENT. THE TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ARE MADE TO COVER THE TAXABLE PORTIONS OF THE SOCIAL CLUB DUES AND VEHICLE USE.

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.

  • CHARITABLE REMAINDER UNITRUST

    T · BENEFICIAL TRUST · KY

Provenance

Return type
form_990
Tax year
2022
Filed
28 February 2024
IRS schema version
2022v5.0
Source object
202430729349301518

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