2023-04-03T17:55:57-05:00 2022-06-30 390859910 BAKER TILLY US LLP 2201 E ENTERPRISE AVE PO BOX 2459 APPLETON WI 549122459 990 2021-07-01 390806154 MOUNT MARY UNIVERSITY INC MOUN 4149303126 2900 N MENOMONEE RIVER PARKWAY MILWAUKEE WI 53222 DR ISABELLE CHERNEY PRESIDENT 4149303126 2023-03-22 1 DR ISABELLE CHERNEY XXX-XX-XXXX TROY MARINE CPA P00187863 9207337385 2023-03-22 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DR ISABELLE CHERNEY 2900 N MENOMONEE RIVER PARKWAY MILWAUKEE WI 53222 48484817 0 X WWW.MTMARY.EDU X 1913 WI MOUNT MARY UNIVERSITY, INC. AN URBAN CATHOLIC UNIVERSITY FOR WOMEN, SPONSORED BY THE SCHOOL SISTERS OF NOTRE DAME, PROVIDES AN ENVIRONMENT FOR THE DEVELOPMENT OF THE WHOLE PERSON. THE UNIVERSITY ENCOURAGES LEADERSHIP, INTEGRITY, AND A DEEP SENSE OF SOCIAL JUSTICE ARISING FROM A SENSITIVITY TO MORAL VALUES AND CHRISTIAN PRINCIPLES.MOUNT MARY COMMITS ITSELF TO EXCELLENCE IN TEACHING AND LEARNING WITH AN EMPHASIS ON THINKING CRITICALLY AND CREATIVELY. THE BACCALAUREATE CURRICULUM INTEGRATES THE LIBERAL ARTS WITH CAREER PREPARATION FOR WOMEN OF DIVERSE AGES AND PERSONAL CIRCUMSTANCES; THE PROGRAMS AT THE GRADUATE LEVEL PROVIDE OPPORTUNITIES FOR BOTH MEN AND WOMEN TO ENHANCE THEIR PROFESSIONAL EXCELLENCE. 26 26 672 95 -64224 0 13515447 8230489 28104394 30677172 2642030 3746991 196057 361812 44457928 43016464 9672918 12002391 0 0 15354036 15652804 0 0 582341 10017793 11601212 35044747 39256407 9413181 3760057 82929930 76484409 11914789 11424016 71015141 65060393 X MOUNT MARY UNIVERSITY, AN URBAN CATHOLIC UNIVERSITY FOR WOMEN SPONSORED BY THE SCHOOL SISTERS OF NOTRE DAME, PROVIDES AN ENVIRONMENT FOR THE DEVELOPMENT OF THE WHOLE PERSON. THE UNIVERSITY ENCOURAGES LEADERSHIP, INTEGRITY, AND A DEEP SENSE OF SOCIAL JUSTICE ARISING FROM A SENSITIVITY TO MORAL VALUES AND CHRISTIAN PRINCIPLES. MOUNT MARY COMMITS ITSELF TO EXCELLENCE IN TEACHING AND LEARNING WITH AN EMPHASIS ON THINKING CRITICALLY AND CREATIVELY. THE BACCALAUREATE CURRICULUM INTEGRATES THE LIBERAL ARTS WITH CAREER PREPARATION FOR WOMEN OF DIVERSE AGES AND PERSONAL CIRCUMSTANCES; THE PROGRAMS AT THE GRADUATE LEVEL PROVIDE OPPORTUNITIES FOR BOTH MEN AND WOMEN TO ENHANCE THEIR PROFESSIONAL EXCELLENCE. 1 0 12769959 12002391 28857794 MOUNT MARY UNIVERSITY HAD APPROXIMATELY 725 UNDERGRADUATE (586 DEGREE SEEKING, 139 NON-DEGREE SEEKING) AND 637 GRADUATE STUDENTS ENROLLED FOR THE FISCAL YEAR ENDING JUNE 30, 2022. DURING THIS PERIOD, 119 BACHELORS DEGREES AND 8 POST BACCALAUREATE CERTIFICATES, 9 DOCTORAL, AND 190 MASTER DEGREES WERE AWARDED TO STUDENTS. 1583597 THE UNIVERSITY SERVICES APPROXIMATELY 1330 STUDENTS WITH FINANCIAL AID, LEARNING SERVICES, STUDENT ENGAGEMENT, CAMPUS MINISTRY, STUDENT ADVISING, FITNESS CENTER, INTERNATIONAL CENTER FOR STUDENTS, CAREER DEVELOPMENT, COUNSELING CENTER, REGISTRAR, RESIDENCE LIFE, STUDENT SUCCESS AND ATHLETIC TEAMS, FOR SUPPORT OF THE WHOLE STUDENT. 3978550 1770995 AUXILIARY ENTERPRISES SERVICES STUDENTS WITH CONTRACTED SERVICES FOR FOOD SERVICE, THE BOOK STORE AND IN-HOUSE FUNCTIONS FOR DORMITORIES. FALL 2021 RESIDENCY WAS 190 STUDENTS AND SPRING 2022 RESIDENCY WAS 164 STUDENTS. 12002391 370793 ALL OTHER PROGRAM SERVICES. 12002391 370793 30334497 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 96 0 1 672 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X BUSINESS OFFICE 4149303003 2900 N MENOMONEE RIVER PKWY MILWAUKEE WI 53222 CHRISTINE PHARR PRESIDENT (TERM. 06/2022) 50.00 X X 298935 0 25282 STEPHANIE RUSSELL CHAIR 1.00 X 0 0 0 ERICA-NICOLE HARRIS VICE CHAIR 1.00 X 0 0 0 KATHY HUST TRUSTEE PAST VICE CHAIR (TERM. 06/2022) 1.00 X 0 0 0 MARIE O'BRIEN TRUSTEE, PAST CHAIR 1.00 X 0 0 0 ANN NATTINGER TRUSTEE 1.00 X 0 0 0 BETH HEIKKILA TRUSTEE 1.00 X 0 0 0 BLAINE GIBSON TRUSTEE (TERM. 06/2022) 1.00 X 0 0 0 DAVID JORGENSEN TRUSTEE 1.00 X 0 0 0 DAVID KRUTZ TRUSTEE 1.00 X 0 0 0 ERICKAJOY DANIELS TRUSTEE (TERM. 06/2022) 1.00 X 0 0 0 HEATHER HERLING TRUSTEE 1.00 X 0 0 0 J OMAR ANDRIETSCH TRUSTEE 1.00 X 0 0 0 JESSICA HELFER TRUSTEE 1.00 X 0 0 0 JOAN M SHAFER TRUSTEE (TERM. 06/2022) 1.00 X 0 0 0 LENA LEE TRUSTEE 1.00 X 0 0 0 LISA JANSEN TRUSTEE 1.00 X 0 0 0 MARILKA VELEZ TRUSTEE 1.00 X 0 0 0 MARY JO LAYDEN TRUSTEE 1.00 X 0 0 0 S SANDRA ANN WEINKE TRUSTEE 1.00 X 0 0 0 SCOTT LARSON TRUSTEE (TERM. 06/2022) 1.00 X 0 0 0 SCOTT NAZE TRUSTEE 1.00 X 0 0 0 SISTER DEBRA SCIANO TRUSTEE 1.00 X 0 0 0 SISTER JANET ABBACCHI TRUSTEE 1.00 X 0 0 0 SISTER JOAN ANDERT TRUSTEE 1.00 X 0 0 0 SUE BELLEHUMEUR TRUSTEE 1.00 X 0 0 0 ROBERT O'KEEFE VICE PRESIDENT 50.00 X 157621 0 21010 KAREN FRIEDLEN VICE PRESIDENT 50.00 X 147923 0 23703 PAM OWENS VICE PRESIDENT 50.00 X 134301 0 21010 DAVID WEGENER VICE PRESIDENT 50.00 X 133466 0 4812 KERI ALIOTO VICE PRESIDENT 50.00 X 133000 0 4550 JULIE LANDRY VICE PRESIDENT (TERM. 06/2022) 50.00 X 41717 0 0 SISTER JOAN PENZENSTADLER VICE PRESIDENT (TERM. 06/2022) 50.00 X 36387 0 1249 ROBERT SCHWARTZ DIRECTOR 50.00 X 133000 0 6318 JANE OLSON DIRECTOR 50.00 X 123457 0 11231 CHERYL BAILEY DIRECTOR 50.00 X 111233 0 20758 NICOLE BIDDLE DIRECTOR 50.00 X 108698 0 11360 KARA GROOM DIRECTOR (TERM. 05/2022) 50.00 X 106050 0 10194 1665788 0 161477 11 0 1 0 AMERICAN FOOD AND VENDING 124 METROPOLITAN PARK LIVERPOOL NY 13088 CATERING AND FOOD SERVICES 778096 PSAB ENTERPRISES INC 13040 W LISBON RD BROOKFIELD WI 53045 CLEANING SERVICE 303682 COLLEGIS LLC 1415 WEST 22ND STREET - SUITE 400 OAK BROOK WI 53045 STRATEGIC INITIATIVE RESEARCH SERVICES 249999 HUNZINGER CONSTRUCTION COMPANY 21100 ENTERPRISE AVENUE BROOKFIELD WI 53045 CONSTRUCTION CONTRACT 228989 CDW GOVERNMENT 790 N MILWAUKEE STREET - STE 400B MILWAUKEE WI 53202 TECHNOLOGY/COMPUTER EQUIPMENT/SOFTWARE/P 215734 18 2770641 5459848 24253 8230489 STUDENT TUITION 611600 28857794 28857794 AUXILIARY ENTERPRISES 722320 1770995 1770995 INTEREST ON TUITION RE 611600 37091 37091 MMC COMMUNITY RENTAL 611600 9000 9000 DEPARTMENT REVENUE 900099 2292 2292 30677172 2626408 2626408 146659 107257 39402 39402 -64224 103626 6481679 5361096 1120583 1120583 1120583 MISCELLANEOUS 611600 322410 322410 322410 43016464 30999582 -64224 3850617 12002391 12002391 1925147 880053 880128 164966 10514609 8762155 1449248 303206 232250 179985 44359 7906 2086801 1432230 596571 58000 893997 702631 156803 34563 471755 48945 417975 4835 96687 96687 726659 344586 382073 3666722 3031358 628485 6879 513061 25488 487478 95 2448285 1581550 864844 1891 227673 227673 1742159 1178985 563174 407725 407725 FOOD SERVICE COSTS 738826 738826 OTHER EXPENSES INCL INS 435646 164140 271506 BAD DEBT ALLOWANCE 126014 126014 39256407 30334497 8339569 582341 2999385 3806321 523837 1000957 6951011 4949347 666093 499552 454392 564934 65358926 38754729 26692215 26604197 44115602 38970101 194404 0 332991 89000 82929930 76484409 1703097 1756057 836432 853204 7921536 7750036 1000000 1000000 453724 64719 11914789 11424016 X 31838554 30300473 39176587 34759920 71015141 65060393 82929930 76484409 X 3760057 -8334437 -1380368 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28920096 2468717 -4720246 1115000 25553567 22877952 524644 6557504 1040004 28920096 23024287 336139 467526 950000 22877952 22583496 678609 1130178 796376 571620 23024287 20492351 1213141 1620504 742500 22583496 0.03000 0.84000 0.13000 0 0 542794 542794 45886852 22986676 22900176 13690574 12421763 1268811 5238706 3346290 1892416 26604197 ANNUITY OBLIGATIONS 43342 INTEREST RATE SWAP 21377 64719 X 21406525 -8334437 -1273111 -9607548 31014073 12002391 12002391 43016464 27361273 107257 107257 27254016 12002391 12002391 39256407 PART X, LINE 2: THE UNIVERSITY HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT IS A TAX-EXEMPT ORGANIZATION AS PROVIDED FOR IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME. NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS BECAUSE THE UNIVERSITY DOES NOT HAVE A SIGNIFICANT AMOUNT OF UNRELATED BUSINESS INCOME. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITION AS OF JUNE 30, 2022 AND 2021. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION FOR FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 107,257. EXCESS WITHDRAWALS OVER INCOME EARNED FOR POOLED ENDOWMENT INVESTMENT -1,115,000. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -265,368. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 12,002,391. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 107,257. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 12,002,391. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NEWSPAPER ANNOUNCEMENTS, BROCHURES, COURSE DESCRIPTIONS SCHEDULE E, PART I, LINE 6 VARIOUS GOVERNMENT GRANTS TO PROVIDE FINANCIAL AID TO STUDENTS EUROPE 0 0 AACUPI DUES EXPENDITURES 715 ROME 0 0 TRAVEL, HOTELS, MEALS, TOURS, TUITION, SCHOLARSHIPS, INSURANCE STUDY ABROAD KENYA 0 0 EDUCATIONAL SCHOLARSHIPS 32760 VIETNAM 0 0 EDUCATIONAL SCHOLARSHIPS 39800 0 0 0 0 0 0 73275 0 73275 0 0 0 0 0 0 PART I, LINE 2: INTERNATIONAL STUDENTS RECEIVE GRANT AWARDS FOR ATTENDING THE UNIVERSITY. IN THE US STUDENT'S ELIGIBILITY FOR GRANT SUPPORT IS DEPENDENT ONLY ON THEIR STATUS AS AN INTERNATIONAL STUDENT. THE ADMISSIONS AND REGISTRAR'S OFFICES VERIFY THE INTERNATIONAL STUDENT STATUS USING THEIR VISAS. THE FINANCIAL AID OFFICE POSTS THE FINANCIAL AID AWARD TO THEIR AID PACKAGE AND THE BUSINESS OFFICE POSTS THE AID ON THEIR STUDENT ACCOUNT. NO PAYMENTS OF CASH ARE MADE TO INTERNATIONAL STUDENTS DIRECTLY FOR THEIR GRANT AWARDS. PART III ACCOUNTING METHOD: 1 EDUCATIONAL SCHOLARSHIPS 719 12002391 PART I, LINE 2: EACH STUDENT IS REVIEWED BY TWO OR THREE INDIVIDUALS IN THE AWARDING PROCESS. STUDENTS ARE THEN AWARDED GRANT FUNDS BASED ON FEDERAL, STATE, AND INSTITUTIONAL REGULATIONS, GUIDELINES AND INSTITUTIONAL MATRIX PROCEDURES FOR MONITORING FUNDS ARE ALSO BUILT INTO THE COMPUTER AWARDING SOFTWARE. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 CHRISTINE PHARR PRESIDENT (TERM. 06/2022) 252593 0 0 0 46342 0 8654 0 16628 0 324217 0 0 0 ROBERT O'KEEFE VICE PRESIDENT 157621 0 0 0 0 0 5409 0 15601 0 178631 0 0 0 KAREN FRIEDLEN VICE PRESIDENT 147923 0 0 0 0 0 5062 0 18641 0 171626 0 0 0 PAM OWENS VICE PRESIDENT 134301 0 0 0 0 0 4611 0 16399 0 155311 0 0 0 PART I, LINE 1A A HOUSING ALLOWANCE IS PROVIDED TO THE PRESIDENT, DR. PHARR. THE PRESIDENT'S CONTRACT INCLUDES A CAR ALLOWANCE. THE ALLOWANCE IS PAID THROUGH PAYROLL AND SUBSEQUENTLY TAXED ACCORDINGLY. A WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 391337855 NONEAVAIL 2013-07-01 6535000 FACILITIES CONSTRUCTIONS 0 0 0 B WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 391337855 NONEAVAIL 2013-07-01 3465000 FACILITIES CONSTRUCTIONS 0 0 0 A 1710000 6535000 139677 6395323 0 0 1 1 B 730000 3465000 134090 3330910 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 1 0 0 0 0 1 B 1 0 0 0 0 1 A 1 B 1 VJS CONSTRUCTION SERVICES INC A TRUSTEE OF THE UNIVERSITY 10265 A TRUSTEE IS A PRINCIPAL OF VJS CONSTRUCTION SERVICES, INC. MOUNT MARY CONTRACTED WITH VJS CONSTRUCTION SERVICES, INC. TO PROVIDE CONSTRUCTION MANAGEMENT SERVICES. 0 ROBERT W BAIRD & CO INC A TRUSTEE OF THE UNIVERSITY 96687 A TRUSTEE OF THE UNIVERSITY IS A PRINCIPAL AT ROBERT W. BAIRD & CO. INC. MOUNT MARY UNIVERSITY ENGAGES ROBERT BAIRD FOR INVESTMENT SERVICES OF THEIR INVESTMENT AND ENDOWMENT ACCOUNTS AND PAYS INVESTMENT FEES. 0 MICHAEL BEST & FRIEDRICH LLC A TRUSTEE OF THE UNIVERSITY 36112 A TRUSTEE OF THE UNIVERSITY IS A PRINCIPAL AT MICHAEL BEST. MOUNT MARY UNIVERSITY CONTINUALLY USES THEIR SERVICES FOR LEGAL MATTERS. 0 X 4 24253 FMV 0 1 0 FORM 990, PART III, LINE 2 UX DESIGN: THROUGH OUR UX COURSES, STUDENTS WILL GAIN THE SKILLS AND KNOWLEDGE NEEDED TO BECOME A VISUAL STORYTELLER, CAPABLE OF PROBLEM-SOLVING AND CREATING A HUMAN-CENTERED EXPERIENCE ACROSS A VARIETY OF DIGITAL PLATFORMS - INCLUDING WEB, MOBILE AND SMART DEVICES. THE INTEGRATED M.S. IN NUTRITION AND DIETETICS, AN ACEND-ACCREDITED PROGRAM, PREPARES STUDENTS TO TAKE THE REGISTRATION EXAMINATION FOR DIETITIANS AND BECOME A REGISTERED DIETITIAN NUTRITIONIST (RDN). THE PROGRAM COMBINES THE REQUIRED SUPERVISED EXPERIENTIAL LEARNING HOURS WITH GRADUATE LEVEL COURSEWORK. THE 49-CREDIT MASTER'S DEGREE CAN BE COMPLETED IN TWO YEARS. EXERCISE SCIENCE: A DEGREE IN EXERCISE SCIENCE PREPARES STUDENTS TO ENTER A VARIETY OF WORK ENVIRONMENTS AND SUPPORT OTHERS ON THEIR HEALTH AND FITNESS JOURNEYS. THE PROGRAM ALSO PROVIDES THE PERFECT FOUNDATION FOR GRADUATE PROGRAMS IN: NUTRITION AND DIETETICS, OCCUPATIONAL THERAPY, KINESIOLOGY, MEDICAL SCHOOL, PHYSICAL THERAPY OR A PHYSICIAN'S ASSISTANT PROGRAM FORM 990, PART VI, SECTION A, LINE 7B SSND CORPORATE BOARD WHO MUST APPROVE CERTAIN THINGS UNDER "RESERVED POWERS". FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WAS PROVIDED TO THE ENTIRE BOARD, WHICH INCLUDES THE AUDIT AND RISK MANAGEMENT COMMITTEE, PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A FORM IS SIGNED ANNUALLY BY THE BOARD OF DIRECTORS. THIS FORM IS SENT TO THE PRESIDENT AND MONITORED BY THAT OFFICE. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE COMPARED TO WAICU SURVEYS. THE PRESIDENT'S SALARY GOES TO THE BOARD FOR APPROVAL FOR INCREASES. THE VICE PRESIDENTS' SALARY INCREASE APPROVALS GO TO THE PRESIDENT. THE CFO MONITORS THE PRESIDENT'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE OFFICES OF THE UNIVERSITY. FORM 990, PART XI, LINE 9: CHANGE IN VALUE/INTEREST RATE SWAP AGREEMENT -265,368. EXCESS WITHDRAWALS OVER INCOME EARNED FOR POOLED ENDOWMENT INVESTMENT -1,115,000. FORM 990, PART XII, LINE 2C: THE UNIVERSITY HAS NOT CHANGED ITS OVERSIGHT PROCESS OR THE PROCESS USED TO SELECT AN INDEPENDENT ACCOUNTANT. SCHOOL SISTERS OF NOTRE DAME 13105 WATERTOWN PLANK ROAD ELM GROVE WI 53122 390806379 SPONSORING ORGANIZATION OF MOUNT MARY UNIVERSITY WI 501(C)(3) LINE 1 0 SSND MMU MCH VENTURE INC 9525 WEST BURLEIGH STREET MILWAUKEE WI 53222 844473861 C CORPORATION WI C 0.33330 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHOOL SISTERS OF NOTRE DAME C 20000 CHECKS RECEIVED