Marian University

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

DANIEL J ELSENER

Phone

3179556009

Tax Period

2022-07-01 to 2023-06-30

Marian University, founded in 1937, is a major nonprofit in the Education sector that reported $175.7M in total revenue in fiscal year 2022.

Mission

VISION TO PROVIDE AN EDUCATION DISTINGUISHED IN ITS ABILITY TO PREPARE TRANSFORMATIVE LEADERS FOR SERVICE TO THE WORLD. MISSION TO BE A GREAT CATHOLIC UNIVERSITY DEDICATED TO ACHIEVING EXCELLENCE IN LEARNING, WHICH IS ACHIEVED THROUGH TEACHING, RESEARCH, AND SCHOLARLY ACTIVITIES IN THE FRANCISCAN AND LIBERAL ARTS TRADITION. VALUES TO REFLECT PRAYERFULLY ON THE GOSPELS TO DETERMINE THE WAYS WE CAN ADVANCE THE DIGNITY OF THE INDIVIDUAL, PEACE AND JUSTICE, RECONCILIATION, AND RESPONSIBLE STEWARDSHIP. THE MARIAN UNIVERSITY PROMISE MARIAN UNIVERSITY STUDENTS WILL BE EXCEPTIONALLY WELL PREPARED FOR A GOOD LIFE AND PROFESSIONAL PURSUITS THROUGH: AN EDUCATION ILLUMINED BY THE LIGHT OF FAITH AND GROUNDED IN VALUES AND ETHICS; CHALLENGING ACADEMIC PROGRAMS SUPPORTED BY A VIBRANT AND CARING COMMUNITY THAT GUIDES STUDENTS IN ACHIEVING EXCELLENCE; INNOVATIVE, ACTIVE, AND ENGAGED APPROACH TO LEARNING ON CAMPUS AND BEYOND; AND, LEADERSHIP EDUCATION THAT PREPARES A TRUSTWORTHY, HEALTHY, INQUISITIVE, A

Program Service Accomplishments

Program 1

Expenses: $152,273,516 Revenue: $143,487,762

MARIAN UNIVERSITY SERVED 3,965 STUDENTS AS MEASURED FALL, 2022. THIS WAS COMPRISED OF 2,871 UNDERGRADUATE, 289 GRADUATE AND 781 DOCTORAL AND 24 CERTIFICATION STUDENTS. INCLUDED IN THESE DEMOGRAPHICS ARE TRADITIONAL FULL AND PART-TIME UNDERGRADUATES, ACCELERATED ON-LINE ADULT PROGRAMS, ACCELERATED 2ND DEGREE NURSING, MEDICAL AND OTHER DOCTORAL AND GRADUATE STUDENTS. MARIAN OFFERS 47 UNDERGRADUATE DEGREES. THE TOP 10 PROGRAMS IN TERMS OF NUMBER OF MAJORS ARE: NURSING, MANAGEMENT, BIOLOGY, EXCERCISE SCIENCE, MARKETING, BUSINESS, FINANCE, ELEMENTARY EDUCATION, LIBERAL ARTS AND SECONDARY EDUCATION. GRADUATE PROGRAMS CURRENTLY OFFERED ARE: BIIOMEDICAL SCIENCES, CLINICAL EXCERCISE PHYSIOLOGY, COUNSELING, EDUCATION LEADERSHIP, LEADERSHIP PRACTICE, SPECIAL EDUCATION, AND PHYSIOLOGY OF EXCERCISE. DOCTORAL PROGRAMS CURRENTLY OFFERRED ARE DOCTOR OF OSTEOPATHIC MEDICINE, FAMILY NURSE PRACTITIONER, NURSE ANESTHESIA AND ORGANIZATIONAL LEADERSHIP. DEMOGRAPHIC INFORMATION REGARDING THE MARIAN STUDENT POPULATION IS AS FOLLOWS: MALE 37.3% AND FEMALE 62.5% AND OTHER .2%. IPEDS RACE/ETHNICITY: WHITE - 57.4%, BLACK OR AFRICAN AMERICAN - 13.7%, HISPANIC/LATINO - 10.3%, TWO OR MORE RACES - 4.8%, ASIAN - 4.4% AND ALL OTHERS - 9.4%. RELIGION: CHRISTIAN, ROMAN CATHOLIC - 43.0%, CHRISTIAN - OTHER - 44.6%, OTHER OR NO RELIGION, 12.4%. THE COLLEGE OF OSTEOPATHIC MEDICINE IS THE ONLY COLLEGE OF OSTEOPATHIC MEDICINE IN THE STATE OF INDIANA AND THE 2ND MEDICAL SCHOOL (ALONG WITH INDIANA UNIVERSITY MEDICAL SCHOOL). THE UNIVERSITY GRADUATED ITS FIRST CLASS IN SPRING 2017. THE PRIMARY GOAL IS TO PLACE PHYSICIANS IN INDIANA AND THE NEIGHBORING STATES. PLACEMENT DEMOGRAPHICS FOR THE CLASS OF 2023 INCLUDES: 100% PLACEMENT RATE, 65% IN PRIMARY CARE WITH 76% IN PHYSICIAN SHORTAGE AREAS. 70% OF GRADUATES MATCHED IN INDIANA AND SURROUNDING STATES, WITH A TOTAL OF MATCHES IN 26 STATES AND 65 CITIES. IN OCTOBER, 2020 MARIAN ANNOUNCED THE LAUNCH OF THE E.S. WITCHGER SCHOOL OF ENGINEERING. THE INAUGURAL CLASS ENTERED IN FALL 2022 AND IN FALL 2023 MARIAN OPENED A STATE-OF-ART ENGINEERING FACILITY. DEGREES OFFERRED IN BIOMEDICAL, CHEMICAL, CIVIL, COMPUTER AND MECHANICAL ENGINEERING. FALL 2022 ATTENDANCE INCLUDED 85 ENGINEERING STUDENTS.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $31,907,253

Program Service Revenue $143,487,762

Investment Income $956,213

Other Revenue $-633,157

TOTAL REVENUE $175,718,071

Expense Breakdown

Grants Paid $39,094,194

Salaries & Benefits $65,252,263

Fundraising Expenses $2,897,117

Program Expenses $152,273,516

Other Expenses $69,025,384

TOTAL EXPENSES $173,371,841

Year-over-Year Comparison

	2022	2021	Change
Revenue	$175,718,071	$180,104,345	0.0%
Expenses	$173,371,841	$164,734,053	+0.1%
Net Income	$2,346,230	$15,370,292	-0.8%

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

Governance

Voting Members

Independent Members

Employees

1792

Volunteers

600

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

$3,882,823

Total Directors

$684,746

Key Employees

$1,104,413

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Elsener Daniel J	President, Marian University	40.0	Officer Director	$573,384	$111,362	$684,746
Wright Amanda	Dean of COM	40.0	Key Emp	$374,139	$41,756	$415,895
Knight Clif	Assist. Dean of Clinic Affairs	40.0	Highest	$368,593	$40,756	$409,349
Britt Kenith C	Sr. VP of Strat. Growth & Inn	40.0	Officer	$344,465	$59,342	$403,807
Ginder Gregory	Sr. VP for Pers., Fin. & Tech	40.0	Officer	$262,943	$59,627	$322,570
Casey Marsha	Sr. VP of Health Professions	40.0	Officer	$290,634	$28,757	$319,391
Rawski Greg E	Dean - Byrum School of Bus.	40.0	Key Emp	$262,662	$40,934	$303,596
Stelflug Bradley W	Dir. of Nurse Anesthesia Prog.	40.0	Highest	$254,522	$39,658	$294,180
Lucich John A	Chair of Internal Medicine	40.0	Highest	$242,964	$33,691	$276,655
Eland David C	Prof. of Osteo. Princ. & Prac.	40.0	Highest	$251,282	$20,215	$271,497
Silva Alan	Executive VP & Provost	40.0	Officer	$245,860	$23,930	$269,790
Nelligan Luke J	Sr. Advisor to the COM Dean	40.0	Highest	$236,822	$24,888	$261,710
Finke John F	VP for Institution Advancement	40.0	Officer	$198,417	$51,473	$249,890
Lawrence Deborah Anne	Sr. VP for Strat. Ptnship & GC	40.0	Officer	$200,064	$22,477	$222,541
Heidt Joseph	Chancellor, Ancilla College MU	40.0	Officer	$181,957	$33,719	$215,676
Stanley Raymond L	VP & Chief Information Officer	40.0	Officer	$175,937	$29,141	$205,078
Enneking Thomas	Advisor to the President	40.0	Officer	$179,013	$25,175	$204,188
Wucher Bradley	VP of Enrollment, Mkt. & Comm.	40.0	Officer	$172,727	$28,884	$201,611
Gomez Dorothy	Dean Leighton Sch. of Nursing	40.0	Key Emp	$181,193	$19,119	$200,312
Rodgers Ruth Randolph	Sr. VP for Leadership Integ.	40.0	Officer	$162,032	$26,840	$188,872
Turner Latonya	Dean Klipsch Educators College	40.0	Key Emp	$157,225	$27,385	$184,610
Jackson Leon	Chancellor, St. Joseph's MU	40.0	Officer	$143,142	$8,398	$151,540
Setmeyer Adam P	VP for Mission & Ministry	40.0	Officer	$113,581	$30,449	$144,030
Gianoli Sr Mary Beth	VP for Mission Integration	40.0	Officer	$89,289	$9,804	$99,093
Becher Michael	Trustee	2.0	Director	$0	$0	$0
Beraldi Fernanda	Trustee	2.0	Director	$0	$0	$0
Bonach Edward	Trustee	2.0	Director	$0	$0	$0
Bruns Scott	Trustee	2.0	Director	$0	$0	$0
Cardis John	Trustee	2.0	Director	$0	$0	$0
Carson Phil	Trustee	2.0	Director	$0	$0	$0
Cleveland OSF Sr Jean Marie	Trustee	2.0	Director	$0	$0	$0
Eckman William P	Chair Emeritus	2.0	Director	$0	$0	$0
Feser Denise B	Board Chair	2.0	Officer Director	$0	$0	$0
Franzer Sr Christa	Vice-Chair	2.0	Officer Director	$0	$0	$0
French Fritz	Trustee	2.0	Director	$0	$0	$0
Frye Anne M	Trustee	2.0	Director	$0	$0	$0
Gardner Adarius	Trustee	2.0	Director	$0	$0	$0
Gary Jr Theodis Ted	Trustee	2.0	Director	$0	$0	$0
Grisley OSF Sr Annette	Trustee	2.0	Director	$0	$0	$0
Hackman Stephen J	Trustee	2.0	Director	$0	$0	$0
Haire David	Trustee	2.0	Director	$0	$0	$0
Harrison Jeffrey	Trustee	2.0	Director	$0	$0	$0
Hart John J	Trustee	2.0	Director	$0	$0	$0
Hicks Linda M	Trustee	2.0	Director	$0	$0	$0
Horney OSF Sr Margaret	Trustee	2.0	Director	$0	$0	$0
Huelsmann PHJC Sr Joetta	Trustee	2.0	Director	$0	$0	$0
Irvin OSF Sr Maureen	Trustee	2.0	Director	$0	$0	$0
Jones Jerry	Trustee	2.0	Director	$0	$0	$0
Klipsch Fred S	Trustee	2.0	Director	$0	$0	$0
Kubacki Rebecca	Trustee	2.0	Director	$0	$0	$0
Kuzmitz Joe	Trustee	2.0	Director	$0	$0	$0
Leighton Alan E	Trustee	2.0	Director	$0	$0	$0
McClamroch Tobin	Trustee	2.0	Director	$0	$0	$0
Miller OSF Sr Joan	Trustee	2.0	Director	$0	$0	$0
Nalli Jonathan S	Trustee	2.0	Director	$0	$0	$0
Petrie Michael F	Trustee	2.0	Director	$0	$0	$0
Price PhD Marianne	Trustee	2.0	Director	$0	$0	$0
Ramsey Sr John F	Trustee	2.0	Director	$0	$0	$0
Schaedel Msgr Joseph F	Trustee	2.0	Director	$0	$0	$0
Semler Jerry D	Trustee	2.0	Director	$0	$0	$0
Shockley DO Rachel	Trustee	2.0	Director	$0	$0	$0
Steele Michele	Trustee	2.0	Director	$0	$0	$0
Stenger OSF Sr Bernice	Trustee	2.0	Director	$0	$0	$0
Werner Robyn R	Trustee	2.0	Director	$0	$0	$0
Yeleti MD Ramarao	Trustee	2.0	Director	$0	$0	$0
Young Richard Andrew Drew	Trustee	2.0	Director	$0	$0	$0
Young Scott	Trustee	2.0	Director	$0	$0	$0
Zavaleta Raul E	Trustee	2.0	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$175,718,071	$173,371,841	$333,685,752	$2,346,230
2022	$180,104,345	$164,734,053	$321,638,726	$15,370,292
2021	$176,218,802	$137,219,541	$323,995,376	$38,999,261
2020	$137,445,617	$126,491,363	$268,495,612	$10,954,254
2019	$140,871,347	$124,174,045	$243,160,642	$16,697,302
2018	$132,637,749	$114,533,094	$236,293,063	$18,104,655