2025-10-13T16:11:26-05:00 2024-12-31 420714325 RSM US LLP 30 SOUTH WACKER DR SUITE 3300 CHICAGO IL 606063392 990 2024-01-01 271503981 HERZING UNIVERSITY LTD HERZ 2622930081 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 SIMHA SUDARSHAN CFO/TREASURER 2622930081 2025-09-24 1 1 REBEKUH ELEY P01247672 3126343400 2025-09-24 2024 2025-03-06 01:10:19Z RENEE HERZING 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 410040769 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 AND ELEVEN 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, AND HEALTHCARE. 12 12 1851 0 0 0 4303309 4514024 168378928 192510709 -1374645 3484282 62917 31018 171370509 200540033 21391672 20430442 0 0 78231284 80371172 65000 53748 53748 76663789 86087492 176351745 186942854 -4981236 13597179 166149884 189354313 60254149 66096804 105895735 123257509 TO EDUCATE, SUPPORT AND EMPOWER ALL STUDENTS FOR SUCCESS IN WORK, LEARNING AND ENGAGEMENT IN THEIR COMMUNITIES AND A GLOBAL SOCIETY. 0 0 160847759 20430442 192541727 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, AND HEALTHCARE. 160847759 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 215 0 1 1851 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X SIMHA SUDARSHAN 2622930081 275 W WISCONSIN AVENUE 210 MILWAUKEE WI 53203 MARK AMBROSIUS TRUSTEE 1.00 X 39500 0 0 CYNTHIA CLEVELAND TRUSTEE 1.00 X 11000 0 0 TONJIA COVERDALE TRUSTEE 1.00 X 7000 0 0 JOSEPH FROEHLICH TRUSTEE 1.00 X 10000 0 0 ERIN HARENG TRUSTEE (UNTIL 12/31/24) 1.00 X 10000 0 0 HENRY HERZING TRUSTEE 1.00 X 10000 0 0 JOSEPH HILL TRUSTEE 1.00 X 10000 0 0 JOHN LOPEZ TRUSTEE/CHAIRPERSON 1.00 X X 14000 0 0 CHRISTINE PHARR TRUSTEE/VICE CHAIRPERSON 1.00 X X 11000 0 0 SCOTT REID TRUSTEE 1.00 X 13000 0 0 JILL SCHWIETERS TRUSTEE 1.00 X 11000 0 0 PATRICIA TODUS TRUSTEE (UNTIL 12/31/24) 1.00 X 13000 0 0 RENEE HERZING PRESIDENT/CEO 40.00 X 625187 0 48053 ERIK PARKS CFO/COO & TREASURER 40.00 X 516592 0 26042 KATHERINE KAUTZER PROVOST/CAO 40.00 X 370305 0 45855 KATHERINE HAUSER CONTROLLER/CORPORATE SECRETARY 40.00 X 133577 0 15507 JAMES GILLESPIE CMO 40.00 X 399734 0 49599 NIGEL LONGWORTH CIO/COO 40.00 X 451431 0 50899 DERRICK POPE VP ADMISSIONS 40.00 X 205399 0 31215 JEFFREY CROSS SVP OF ONLINE OPERATIONS 40.00 X 297836 0 32228 SARAH HIGGINS REGIONAL VICE PRESIDENT - SOUTH 40.00 X 184897 0 26328 JEFFREY HILL REGIONAL VICE PRESIDENT - MIDWEST 40.00 X 244661 0 32744 MLADEN GRGIC VP, IT 40.00 X 219668 0 29505 3808787 0 387975 107 0 1 0 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 ADVERTISING 19499631 PHASE 3 MARKETING AND COMMUNICATIONS 7025 RAYMOND ROAD MADISON WI 53719 ADVERTISING 2770000 LEAPLEY CONSTRUCTION GROUP OF ATLANTA LL 180 INTERSTATE NORTH PKWY SUITE 140 ATLANTA GA 30339 CONSTRUCTION 2125882 META PLATFORMS INC 1601 WILLOW ROAD MENLO PARK CA 94025 ADVERTISING 2091777 VALIDATED INSIGHTS 961 CUMBERLAND LANE BUFFALO GROVE IL 60089 ADVERTISING 1970721 87 4388318 125706 4514024 TUITION INCOME 611310 191625117 191625117 OTHER INCOME 611310 885592 885592 192510709 2201799 2201799 210783219 209500736 1282483 1282483 1282483 MISCELLANEOUS REVENUE 900099 31018 31018 31018 200540033 192541727 0 3484282 20402303 20402303 28139 28139 2892282 2892282 65087771 59572909 5514862 7420745 6391862 1028883 4970374 4472229 498145 722030 722030 215242 215242 280345 280345 53748 53748 201007 201007 14130954 5494290 8636664 28354528 28354528 2322771 599544 1723227 699783 109910 589873 7900241 7388550 511691 2568159 1804099 764060 314750 229767 84983 6132937 4477044 1655893 714982 714982 TEXTBOOKS 6076264 6076264 STUDENT EXPENSES 3863519 3863519 BAD DEBT EXPENSE 3446432 3446432 ASSESSMENT EXPENSE 3135102 3135102 5008446 4286286 722160 186942854 160847759 26041347 53748 9276551 16042986 5261073 6631821 100000 50000 3713750 4279541 53261461 23416526 29779696 29844935 49815084 66863988 41589347 39640336 26614383 26000706 166149884 189354313 17719168 23672875 2565664 3467302 10926784 10549285 29042533 28407342 60254149 66096804 X 104970187 122016789 925548 1240720 105895735 123257509 166149884 189354313 13597179 3764595 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 280345 0 280345 0 186407754 186688099 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 48141 173912 214015 280345 716413 250000 250000 250000 250000 1000000 1500000 689341 84382 773723 654433 34908 689341 647000 7433 654433 647761 -761 647000 636927 10834 647761 0.00000 0.31026 0.68974 0 0 2794598 2794598 12404554 3658054 8746500 17683245 6861603 10821642 20232288 12896869 7335419 146776 146776 29844935 RIGHT OF USE ASSET 24647406 INTEREST RATE SWAP 1353300 26000706 DEFERRED RENT 28407342 28407342 X 179706103 3764595 -24397518 -20632923 200339026 201007 201007 200540033 162344329 0 162344329 201007 24397518 24598525 186942854 PART V, LINE 4: TO PROVIDE SCHOLARSHIPS AND HELP STUDENTS COMPLETE THEIR EDUCATION AND PROVIDE SUSTAINABILITY FOR THE UNIVERSITY. 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, 2024 AND 2023, THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS -20,430,442. ALLOCATED OTHER REVENUE IN AUDIT -520,644. ALLOCATED BAD DEBT IN AUDIT -3,446,432. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 20,430,442. ALLOCATED OTHER REVENUE IN AUDIT 520,644. ALLOCATED BAD DEBT IN AUDIT 3,446,432. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 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. 1 0 0 0 0 0 0 0 0 0 INSTITUTIONAL SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 15 18226 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 3 5897 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 6 3462 TUITION DISCOUNT INSTITUTIONAL SCHOLARSHIPS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 554 TUITION DISCOUNT 1 0 1 0 0 0 X X X X 1 THE ALFORD GROUP INC 100 N LASALLE STREET SUITE 910 CHICAGO IL 60602 ADVANCEMENT CONSULTING 0 0 53748 -53748 53748 -53748 1 TUITION DISCOUNTS 13863 20402303 0 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 1 1 X X X 0 0 0 0 0 1 0 0 0 RENEE HERZING PRESIDENT/CEO 541187 0 84000 0 0 0 28133 0 19920 0 673240 0 0 0 ERIK PARKS CFO/COO & TREASURER 379545 0 137047 0 0 0 24642 0 1400 0 542634 0 0 0 NIGEL LONGWORTH CIO/COO 321471 0 62835 0 67125 0 27921 0 22978 0 502330 0 0 0 JAMES GILLESPIE CMO 333494 0 66240 0 0 0 26614 0 22985 0 449333 0 0 0 KATHERINE KAUTZER PROVOST/CAO 319027 0 51278 0 0 0 26607 0 19248 0 416160 0 0 0 JEFFREY CROSS SVP OF ONLINE OPERATIONS 250106 0 47380 0 350 0 11077 0 21151 0 330064 0 0 0 JEFFREY HILL REGIONAL VICE PRESIDENT - MIDWEST 216658 0 27675 0 328 0 10063 0 22681 0 277405 0 0 0 MLADEN GRGIC VP, IT 202028 0 17640 0 0 0 8738 0 20767 0 249173 0 0 0 DERRICK POPE VP ADMISSIONS 184202 0 21197 0 0 0 8690 0 22525 0 236614 0 0 0 SARAH HIGGINS REGIONAL VICE PRESIDENT - SOUTH 164357 0 20540 0 0 0 3889 0 22439 0 211225 0 0 0 PART I, LINE 1A LOAN FORGIVENESS FOR KEY EMPLOYEE - GROSSED UP THE FIRST LEVEL OF TAXES PART I, LINE 6 PORTION OF BONUS CRITERIA RELATES TO TARGET NET OPERATING INCOME OF THE ORGANIZATION. NIGEL LONGWORTH KEY EMPLOYEE HEALTHCARE EXPENSES X 150000 50000 0 0 1 50000 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 1970721 ADVERTISING 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.