THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION

EIN: 237034523 501(c)(3) Education

MARQUETTE, MI

Total Revenue
$12,623,680
Total Expenses
$5,017,434
Total Assets
$85,717,144
Net Assets
$83,800,370
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
MI
Principal Officer
NICOLE BLEMBERG
Phone
9062272627
Tax Period
2024-07-01 to 2025-06-30

THE NORTHERN MICHIGAN UNIVERSITY FOUNDATION, founded in 1968, is a mid-sized nonprofit in the Education sector that reported $12.6M in total revenue in fiscal year 2024. Revenue surged 107% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.6M, a strong 60% operating margin.

Mission

THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN UNIVERSITY.

Program Service Accomplishments

Program 1
Expenses: $1,575,607

SCHOLARSHIPS AND OTHER FINANCIAL AID - PROVIDING FINANCIAL ASSISTANCE TO STUDENTS, ENABLING THEM TO OBTAIN A COLLEGE EDUCATION.

Program 2
Expenses: $1,165,993

ACADEMIC DEPARTMENTS AND PROGRAMS - PROVIDE SUPPORT TO NORTHERN MICHIGAN UNIVERSITY'S ACADEMIC DEPARTMENTS AND PROGRAMS TO INCREASE THE EDUCATIONAL OPPORTUNITIES FOR ITS STUDENTS.

Program 3
Expenses: $429,745

PUBLIC TELEVISION - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC TV STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO VIEW...

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PUBLIC TELEVISION - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC TV STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO VIEW IT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,059,959
Program Service Revenue $0
Investment Income $2,327,363
Other Revenue $-763,642
TOTAL REVENUE $12,623,680

Expense Breakdown

Grants Paid $3,749,214
Salaries & Benefits $0
Fundraising Expenses $247,041
Program Expenses $3,749,214
Other Expenses $1,268,220
TOTAL EXPENSES $5,017,434

Year-over-Year Comparison

2024 2023 Change
Revenue $12,623,680 $6,096,168 +1.1%
Expenses $5,017,434 $5,430,993 -0.1%
Net Income $7,606,246 $665,175 +10.4%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
25

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$338,752
Total Directors
20
$338,752
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRAD M CANALE CHIEF EXECUTIVE OFFICER - PART YEAR 40.00
Officer Director
$0 $93,456 $338,752
NICOLE A BLEMBERG INTERIM CEO - 6/25, TRUSTEE 40.00
Officer Director
$0 $0 $0
MARK B PYNNONEN PRESIDENT 1.90
Officer Director
$0 $0 $0
MICHAEL R OSWALD VICE PRESIDENT 1.90
Officer Director
$0 $0 $0
GERARD J MOLITOR SECRETARY/TREASURER 1.90
Officer Director
$0 $0 $0
JESSE W BELL TRUSTEE 0.60
Director
$0 $0 $0
CAIN G BESSE TRUSTEE 0.60
Director
$0 $0 $0
WILLIAM W BOWERMAN TRUSTEE 0.60
Director
$0 $0 $0
KEVIN C BOYLE TRUSTEE 0.60
Director
$0 $0 $0
WILLIAM W EDWARDS TRUSTEE 0.60
Director
$0 $0 $0
JOSEPH A EVANS TRUSTEE 0.60
Director
$0 $0 $0
TIMOTHY P GREELEY TRUSTEE 0.60
Director
$0 $0 $0
STEPHEN P LATUS TRUSTEE 0.60
Director
$0 $0 $0
JOHN F LIST TRUSTEE 0.60
Director
$0 $0 $0
MARK R LOVELL TRUSTEE 0.60
Director
$0 $0 $0
RUSSELL M MAGNAGHI TRUSTEE 0.60
Director
$0 $0 $0
LISA M MUELLER TRUSTEE 0.60
Director
$0 $0 $0
DAVID R NERENZ TRUSTEE 0.60
Director
$0 $0 $0
LISA A TOMSHECK TRUSTEE 0.60
Director
$0 $0 $0
CURT L TUCKER TRUSTEE 0.60
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $12,623,680 $5,017,434 $85,717,144 $7,606,246
2024 $6,096,168 $5,430,993 $77,295,763 $665,175
2023 $18,008,930 $4,810,789 $70,883,331 $13,198,141
2022 $7,666,417 $4,251,458 $51,572,158 $3,414,959
2021 $6,659,103 $3,718,668 $57,190,761 $2,940,435
2020 $6,783,322 $4,202,771 $44,603,546 $2,580,551
2019 $6,783,437 $4,163,204 $42,861,241 $2,620,233
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