2022-11-09T11:39:26-06:00 2021-12-31 420714325 RSM US LLP PO BOX 5946 MADISON WI 537050946 990 2021-01-01 271503981 HERZING UNIVERSITY LTD HERZ 4149080264 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 ERIK PARKS CFO / TREASURER 4142718103 2022-11-08 1 ERIK PARKS 999009999 JAMES G GRAHAM P00006111 6088332612 2022-11-08 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X RENEE HERZING 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 214346018 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 SUBURBAN 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. 10 10 1534 0 0 0 5137824 21193864 141748629 144426720 3099946 6824593 377751 89546 150364150 172534723 13372548 14231363 0 0 58723359 69153522 0 0 0 59974481 82736122 132070388 166121007 18293762 6413716 131421103 145438947 24434339 34104970 106986764 111333977 TO EDUCATE, SUPPORT AND EMPOWER ALL STUDENTS FOR SUCCESS IN WORK, LEARNING AND ENGAGEMENT IN THEIR COMMUNITIES AND A GLOBAL SOCIETY. 0 0 147089957 14231363 144516266 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. 147089957 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 218 0 1 1534 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X ERIK PARKS 4149080264 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 MARK AMBROSIUS TRUSTEE 1.00 X 18000 0 0 WENDY BAUMANN TRUSTEE 1.00 X 13500 0 0 JOSEPH PETER HEFFERNAN TRUSTEE - UNTIL 7/1/21 1.00 X 7500 0 0 HENRY HERZING TRUSTEE 1.00 X 12500 0 0 CHERYL KING TRUSTEE 1.00 X 12500 0 0 MARGARET LEE TRUSTEE 1.00 X 13500 0 0 JOSEPH FROEHLICH TRUSTEE/CHAIRPERSON 1.00 X X 17500 0 0 PATRICIA TODUS TRUSTEE/VICE CHAIRPERSON 1.00 X X 13500 0 0 ERIN HARENG TRUSTEE 1.00 X 12500 0 0 JOSEPH HILL TRUSTEE 1.00 X 9500 0 0 JOHN LOPEZ TRUSTEE 1.00 X 7500 0 0 RENEE HERZING PRESIDENT/CEO 40.00 X 437493 0 39477 ERIK PARKS CFO/TREASURER 40.00 X 401730 0 18808 KATHERINE KAUTZER PROVOST 40.00 X 364100 0 23514 JAMES GILLESPIE CMO 40.00 X 393382 0 36142 ROBERT HAIMES EVP OF OPERATIONS 40.00 X 388303 0 32781 NIGEL LONGWORTH COO/CIO 40.00 X 360508 0 37219 JASON MORGAN VP OF OPERATIONS, CAMPUS REGIONS 40.00 X 218652 0 15224 LEILA CASTEEL ASSOC. PROVOST OF CURRICULUM INNOVATION/ASSESSMENT 40.00 X 196651 0 15546 DANIEL PETERSON ONLINE PRESIDENT 40.00 X 238021 0 17740 JEFF CROSS REGIONAL CAMPUS PRESIDENT 40.00 X 193796 0 23488 JEFFREY HILL REGIONAL CAMPUS PRESIDENT 40.00 X 203811 0 22092 3534447 0 282031 63 0 1 0 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 ADVERTISING 12739459 FACEBOOK INC 1601 WILLOW ROAD MENLO PARK CA 94025 ADVERTISING 1995655 PHASE 3 MARKETING AND COMMUNICATIONS 7025 RAYMOND ROAD MADISON WI 53719 ADVERTISING 1950833 THE SINCLAIR BROADCAST GROUP 10706 BEAVER DAM ROAD HUNT VALLEY MD 21030 ADVERTISING 1380984 VALIDATED INSIGHTS 961 CUMBERLAND LANE BUFFALO GROVE IL 60089 ADVERTISING 1261481 65 21064049 129815 21193864 TUITION INCOME 611310 143813605 143813605 OTHER INCOME 611310 613115 613115 144426720 1057284 1057284 47505468 73136 41695210 116085 5810258 -42949 5767309 5767309 MISCELLANEOUS REVENUE 900099 89546 89546 89546 172534723 144516266 0 6824593 14194014 14194014 37349 37349 2672956 2672956 55353231 51187589 4165642 6851343 6118982 732361 4275992 3869069 406923 442077 442077 187760 35300 152460 48141 48141 47206 47206 13785265 6057057 7728208 24198479 24198479 1463721 1386628 77093 637180 104483 532697 5574466 5355466 219000 681304 502262 179042 315743 236807 78936 4920589 3690442 1230147 502198 502198 STUDENT GRANT EXPENSE 15340421 15340421 TEXTBOOKS 4994510 4994510 STUDENT EXPENSES 2737256 2737256 ASSESSMENT EXPENSE 2431578 2431578 4428228 4110067 318161 166121007 147089957 19031050 0 17493988 11733672 4014416 5083948 1557166 2646217 47552008 15205475 26207444 32346533 34711710 48141208 47436379 45487369 131421103 145438947 13632247 15597735 1878395 2341674 6000000 11672822 2923697 4492739 24434339 34104970 X 106176528 110468417 810236 865560 106986764 111333977 131421103 145438947 6413716 -2066503 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 48141 48141 147041816 147089957 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 42450 23025 3316 48141 116932 250000 250000 250000 250000 1000000 1500000 647761 -761 647000 636927 10834 647761 619813 17114 636927 613734 6079 619813 607659 6075 613734 0.82483 0.17517 0 0 3548109 3548109 15929000 3041288 12887712 9713333 3863133 5850200 11095088 6475929 4619159 7266478 1825125 5441353 32346533 DEFERRED RENT 2001433 LEASE INCENTIVE LIABILITY 2491306 4492739 X 152662965 -2066503 -2066503 154729468 17805255 17805255 172534723 148315752 0 148315752 17805255 17805255 166121007 PART X, LINE 2: THE UNIVERSITY HAS RECEIVED NOTIFICATION THAT IT 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 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, 2021, THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES. THE UNIVERSITY WILL ANNUALLY FILE FORM 990 IN THE U.S. FEDERAL JURISDICTION. THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS FOR YEARS ENDED THROUGH DECEMBER 31, 2017. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 14,231,363. ALLOCATED OTHER REVENUE IN AUDIT 1,486,107. ALLOCATED BAD DEBT IN AUDIT 2,087,785. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 14,231,363. ALLOCATED OTHER REVENUE IN AUDIT 1,486,107. ALLOCATED BAD DEBT IN AUDIT 2,087,785. 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 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 2 6616 TUITION DISCOUNTS INSTITUTIONAL SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 9 24511 TUITION DISCOUNTS INSTITUTIONAL SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 1 4886 TUITION DISCOUNTS INSTITUTIONAL SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 1 1336 TUITION DISCOUNTS 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 TUITION DISCOUNTS 9262 14194014 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. 1 X X 0 0 0 0 0 0 0 0 0 RENEE HERZING PRESIDENT/CEO 330833 0 106560 0 100 0 23164 0 16313 0 476970 0 0 0 JAMES GILLESPIE CMO 313282 0 80000 0 100 0 22969 0 13173 0 429524 0 0 0 ROBERT HAIMES EVP OF OPERATIONS 313203 0 75000 0 100 0 17808 0 14973 0 421084 0 0 0 ERIK PARKS CFO/TREASURER 299464 0 102166 0 100 0 18191 0 617 0 420538 0 0 0 NIGEL LONGWORTH COO/CIO 290058 0 70000 0 450 0 24091 0 13128 0 397727 0 0 0 KATHERINE KAUTZER PROVOST 294000 0 70000 0 100 0 22915 0 599 0 387614 0 0 0 DANIEL PETERSON ONLINE PRESIDENT 237921 0 0 0 100 0 4231 0 13509 0 255761 0 0 0 JASON MORGAN VP OF OPERATIONS, CAMPUS REGIONS 193552 0 25000 0 100 0 8972 0 6252 0 233876 0 0 0 JEFFREY HILL REGIONAL CAMPUS PRESIDENT 178361 0 25000 0 450 0 8651 0 13441 0 225903 0 0 0 JEFF CROSS REGIONAL CAMPUS PRESIDENT 163346 0 30000 0 450 0 7398 0 16090 0 217284 0 0 0 LEILA CASTEEL ASSOC. PROVOST OF CURRICULUM INNOVAT 196551 0 0 0 100 0 3113 0 12433 0 212197 0 0 0 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 W140 N8917 LILLY ROAD MENOMONEE FALLS WI 53051 852025534 ADMINISTRATIVE AND MANAGEMENT SUPPORT DE 501(C)(3) LINE 12C, III-FI NO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0