2023-10-02T16:58:17-05:00 2022-12-31 420714325 RSM US LLP 30 SOUTH WACKER DR SUITE 3300 CHICAGO IL 606063392 990 2022-01-01 271503981 HERZING UNIVERSITY LTD HERZ 2622930081 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 ERIK PARKS CFO / TREASURER 2622930081 2023-09-21 1 ERIK PARKS XXX-XX-XXXX 0 REBEKUH ELEY P01247672 3126343400 2023-09-21 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z RENEE HERZING 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 179285486 0 X WWW.HERZING.EDU X 2009 WI HERZING UNIVERSITY IS A REGIONALLY-ACCREDITED, PRIVATE CAREER UNIVERSITY THAT PROVIDES EDUCATIONAL PROGRAMS AT THE CERTIFICATE, UNDERGRADUATE, AND GRADUATE LEVELS FOR A DIVERSE STUDENT POPULATION IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THE CORPORATE ADMINISTRATIVE OFFICE AND ONLINE OPERATIONS SUPPORT OFFICE ARE LOCATED IN MILWAUKEE, WI WITH A SECONDARY ONLINE OPERATIONS SUPPORT OFFICE IN CHICAGO, IL AND TEN CAMPUSES LOCATED THROUGHOUT THE UNITED STATES. THROUGH QUALITY TEACHING AND LEARNING, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLS NECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO THE PHILOSOPHY OF PUTTING STUDENTS AT THE CENTER OF THE UNIVERSITY MISSION, HERZING UNIVERSITY PREPARES GRADUATES FOR CAREERS IN TECHNOLOGY, BUSINESS, HEALTHCARE, AND PUBLIC SAFETY. 9 9 1771 0 0 0 21193864 13637575 144426720 152390200 6824593 -1098519 89546 277693 172534723 165206949 14231363 18927754 0 0 69153522 75595621 0 0 0 82736122 72879238 166121007 167402613 6413716 -2195664 145438947 162704750 34104970 59906847 111333977 102797903 TO EDUCATE, SUPPORT AND EMPOWER ALL STUDENTS FOR SUCCESS IN WORK, LEARNING AND ENGAGEMENT IN THEIR COMMUNITIES AND A GLOBAL SOCIETY. 0 0 145835966 18927754 152667893 HERZING UNIVERSITY PROVIDES EDUCATIONAL PROGRAMS AT THE CERTIFICATE, UNDERGRADUATE, AND GRADUATE LEVELS FOR A DIVERSE STUDENT POPULATION IN TRADITIONAL, NON-TRADITIONAL AND ONLINE DELIVERY FORMATS. THROUGH QUALITY TEACHING AND LEARNING, THE UNIVERSITY IS COMMITTED TO PROVIDE STUDENTS WITH OPPORTUNITIES TO DEVELOP THE KNOWLEDGE, UNDERSTANDING AND SKILLS NECESSARY FOR SUCCESSFUL EMPLOYMENT. COMMITTED TO THE PHILOSOPHY OF PUTTING STUDENTS AT THE CENTER OF THE UNIVERSITY MISSION, HERZING UNIVERSITY PREPARES GRADUATES FOR CAREERS IN TECHNOLOGY, BUSINESS, HEALTHCARE, AND PUBLIC SAFETY. 145835966 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 229 0 1 1771 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X ERIK PARKS 2622930081 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 JOSEPH FROEHLICH TRUSTEE/CHAIRPERSON 1.00 X X 17500 0 0 PATRICIA TODUS TRUSTEE/VICE CHAIRPERSON 1.00 X X 11000 0 0 WENDY BAUMANN TRUSTEE/SECRETARY 1.00 X X 11000 0 0 MARK AMBROSIUS TRUSTEE 1.00 X 15000 0 0 HENRY HERZING TRUSTEE 1.00 X 10000 0 0 ERIN HARENG TRUSTEE 1.00 X 10000 0 0 JOSEPH HILL TRUSTEE 1.00 X 14000 0 0 MARGARET LEE TRUSTEE 1.00 X 11000 0 0 JOHN LOPEZ TRUSTEE 1.00 X 10000 0 0 RENEE HERZING PRESIDENT/CEO 40.00 X 539820 0 43975 ERIK PARKS CFO/TREASURER 40.00 X 434313 0 24447 KATHERINE KAUTZER PROVOST/CAO 40.00 X 395508 0 40124 DEBORAH PAUKNER CONTROLLER/CORPORATE SECRETARY (UNTIL 12/31/22) 40.00 X 112514 0 0 JAMES GILLESPIE CMO 40.00 X 436365 0 38152 ROBERT HAIMES EVP OF OPERATIONS (UNTIL 4/8/22) 40.00 X 221956 0 56795 NIGEL LONGWORTH COO/CIO 40.00 X 388199 0 39278 JASON MORGAN SVP OF OPERATIONS GROUND CAMPUSES 40.00 X 247313 0 16929 LEILA CASTEEL ASSOCIATE VP OF CURRICULUM & INNOVATION 40.00 X 203450 0 16171 JEFF CROSS SVP OF ONLINE OPERATIONS 40.00 X 230550 0 26413 JEFFREY HILL REGIONAL CAMPUS PRESIDENT 40.00 X 212392 0 22843 DINA HEWETT ASSOCIATE DEAN OF NURSING OPS 40.00 X 197077 0 22752 3728957 0 347879 98 0 1 0 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 ADVERTISING 19330770 PHASE 3 MARKETING AND COMMUNICATIONS 7025 RAYMOND ROAD MADISON WI 53719 ADVERTISING 2598633 META PLATFORMS INC 1601 WILLOW ROAD MENLO PARK CA 94025 ADVERTISING 2022690 IC CONSTRUCTION LLC 833 E MICHIGAN STREET MILWAUKEE WI 53202 CONSTRUCTION 1985364 VALIDATED INSIGHTS 961 CUMBERLAND LANE BUFFALO GROVE IL 60089 ADVERTISING 1647542 93 13597610 39965 13637575 TUITION INCOME 611310 151695212 151695212 OTHER INCOME 611310 694988 694988 152390200 1297232 1297232 9586826 2095960 10153362 3925175 -566536 -1829215 -2395751 -2395751 MISCELLANEOUS REVENUE 900099 277693 277693 277693 165206949 152667893 0 -1098519 18894449 18894449 33305 33305 2880947 2880947 60964641 56209418 4755223 7088918 6325104 763814 4661115 4222388 438727 354069 354069 211147 211147 173912 173912 138219 138219 13306111 5109659 8196452 25617772 25617772 1068417 973768 94649 679723 143769 535954 6733661 6104345 629316 1903441 1366683 536758 348319 257756 90563 5597225 4141946 1455279 666987 666987 TEXTBOOKS 5566629 5566629 ASSESSMENT EXPENSE 3565953 3565953 STUDENT EXPENSES 2604638 2604638 BAD DEBT EXPENSE 2338638 2338638 2004377 1692759 311618 167402613 145835966 21566647 0 11733672 13625104 5083948 4350244 0 150000 2646217 3527830 45190906 15378643 32346533 29812263 48141208 40911240 45487369 43538358 0 26789711 145438947 162704750 15597735 16620465 2341674 3061151 11672822 12459740 4492739 27765491 34104970 59906847 X 110468417 101931159 865560 866744 111333977 102797903 145438947 162704750 -2195664 -6340410 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 173912 173912 167090482 167264394 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 23025 3316 48141 173912 248394 250000 250000 250000 250000 1000000 1500000 647000 7433 654433 647761 -761 647000 636927 10834 647761 619813 17114 636927 613734 6079 619813 0.81546 0.18454 0 0 2794598 2794598 12311229 2750437 9560792 12045556 4282385 7763171 11297935 6281022 5016913 6741588 2064799 4676789 29812263 RIGHT OF USE ASSET 25186847 INTEREST RATE SWAP 1602864 26789711 DEFERRED RENT 27765491 27765491 X 137709423 -6340410 -21018897 -27359307 165068730 138219 138219 165206949 146245497 0 146245497 138219 21018897 21157116 167402613 PART X, LINE 2: THE UNIVERSITY QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE AND CORRESPONDING PROVISIONS OF STATE LAW AND, ACCORDINGLY, IS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. THE UNIVERSITY ANNUALLY FILES FORM 990 IN THE U.S. FEDERAL JURISDICTION AND IN THE STATE OF WISCONSIN. THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE UNIVERSITY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE UNIVERSITY AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. AS OF DECEMBER 31, 2022 AND 2021, THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS -18,565,995. ALLOCATED OTHER REVENUE IN AUDIT -114,264. ALLOCATED BAD DEBT IN AUDIT -2,338,638. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 18,565,995. ALLOCATED OTHER REVENUE IN AUDIT 114,264. ALLOCATED BAD DEBT IN AUDIT 2,338,638. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 HERZING UNIVERSITY LTD. HAS ADOPTED A RACIALLY NONDISCRIMINATORY POLICY THAT COMPLIES WITH REVENUE PROCEDURE 75-50, AND HAS PUBLICIZED THE POLICY AS REQUIRED BY THE REVENUE PROCEDURE. THE UNIVERSITY'S RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL COURSE CATALOGS AND THE ADMISSION APPLICATION FORM. A LINK TO THE POLICY APPEARS ON EACH WEB PAGE IN THE UNIVERSITY'S WEBSITE, WWW.HERZING.EDU. SCHEDULE E, PART I, LINE 6 EMERGENCY STUDENT FINANCIAL AID GRANTS AND INSTITUTIONAL GRANTS RECEIVED THROUGH HIGHER EDUCATION EMERGENCY RELIEF FUNDS UNDER THE CARES ACT. 1 0 0 0 0 0 0 0 0 0 INSTITUTIONAL SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 17 16907 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 10 7866 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 1 2789 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS SUB-SAHARAN AFRICA 3 2753 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 2 2301 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS SOUTH AMERICA 1 689 TUITION DISCOUNT 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 TUITION DISCOUNTS 12179 18894449 PART I, LINE 2: SCHOLARSHIPS ARE TRACKED THROUGH THE UNIVERSITY'S STUDENT INFORMATION SYSTEM. PART III: INSTITUTIONAL SCHOLARSHIPS ARE TRACKED THROUGH THE UNIVERSITY'S STUDENT INFORMATION SYSTEM. MOST, IF NOT ALL STUDENT SCHOLARSHIPS, ARE CREDITED TO THE STUDENTS' ACCOUNTS WITHOUT FUNDS PASSING THROUGH THE STUDENTS' HANDS. X X 0 0 0 0 0 0 0 0 0 RENEE HERZING PRESIDENT/CEO 427820 0 112000 0 0 0 26204 0 17771 0 583795 0 0 0 JAMES GILLESPIE CMO 336365 0 100000 0 0 0 23877 0 14275 0 474517 0 0 0 ERIK PARKS CFO/TREASURER 348813 0 85500 0 0 0 23799 0 648 0 458760 0 0 0 KATHERINE KAUTZER PROVOST/CAO 315508 0 80000 0 0 0 23831 0 16293 0 435632 0 0 0 NIGEL LONGWORTH COO/CIO 308199 0 80000 0 0 0 25029 0 14249 0 427477 0 0 0 ROBERT HAIMES EVP OF OPERATIONS (UNTIL 4/8/22) 115706 0 106250 0 0 0 51778 0 5017 0 278751 0 0 0 JASON MORGAN SVP OF OPERATIONS GROUND CAMPUSES 217313 0 30000 0 0 0 10123 0 6806 0 264242 0 0 0 JEFF CROSS SVP OF ONLINE OPERATIONS 203950 0 26250 0 350 0 8797 0 17616 0 256963 0 0 0 JEFFREY HILL REGIONAL CAMPUS PRESIDENT 183376 0 28725 0 291 0 8753 0 14090 0 235235 0 0 0 DINA HEWETT ASSOCIATE DEAN OF NURSING OPS 197077 0 0 0 0 0 5150 0 17602 0 219829 0 0 0 LEILA CASTEEL ASSOCIATE VP OF CURRICULUM & INNOVAT 193100 0 10000 0 350 0 3230 0 12941 0 219621 0 0 0 NIGEL LONGWORTH KEY EMPLOYEE HEALTHCARE EXPENSES X 150000 150000 0 0 1 150000 FORM 990, PART VI, SECTION A, LINE 2 HENRY HERZING, A TRUSTEE, AND RENEE HERZING THE PRESIDENT AND CEO, ARE FATHER AND DAUGHTER, RESPECTIVELY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW PRIOR TO SUBMITTING IT TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL CONFLICT OF INTEREST STATEMENTS WERE REVIEWED BY THE BOARD'S GOVERNANCE/NOMINATING COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A CEO/PRESIDENT COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS NOT MADE PUBLIC. FORM 990, PART XII, LINE 2C: NO CHANGES FROM PRIOR YEAR. HONORA EDUCATION ALLIANCE LTD 275 W WISCONSIN AVENUE MILWAUKEE WI 53203 852025534 ADMINISTRATIVE AND MANAGEMENT SUPPORT DE 501(C)(3) LINE 12C, III-FI N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0