Midwestern University

EIN: 363377698 501(c)(3) Education

DOWNERS GROVE, IL

Total Revenue
$518,091,233
Total Expenses
$393,667,514
Total Assets
$1,942,110,046
Net Assets
$1,661,997,416
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1900
Legal Domicile
IL
Phone
6305157307
Tax Period
2022-07-01 to 2023-06-30

Midwestern University, founded in 1900, is a major nonprofit in the Education sector that reported $518.1M in total revenue in fiscal year 2022. The organization ran a surplus of $124.4M, a strong 24% operating margin.

Mission

MIDWESTERN UNIVERSITY'S HISTORICAL AND SUSTAINING PHILOSOPHY DEDICATES THE INSTITUTION AND ITS RESOURCES TO THE HIGHEST STANDARDS OF ACADEMIC EXCELLENCE TO MEET THE EDUCATIONAL NEEDS OF THE HEALTH CARE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $366,036,284 Revenue: $487,551,117

DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2023, MIDWESTERN UNIVERSITY PROVIDED HEALTH SCIENCES EDUCATION SERVICES TO APPROXIMATELY 6,542 PRE-DOCTORAL...

Read more

DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2023, MIDWESTERN UNIVERSITY PROVIDED HEALTH SCIENCES EDUCATION SERVICES TO APPROXIMATELY 6,542 PRE-DOCTORAL STUDENTS. THESE STUDENT SERVICES ARE LOCATED ON THREE CAMPUSES, TWO IN ILLINOIS AND ONE IN ARIZONA. MIDWESTERN UNIVERSITY OFFERS HEALTH EDUCATION PROGRAMS IN MEDICINE, PHARMACY, PHYSICIAN ASSISTANCE, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, BIOMEDICAL SCIENCES, PODIATRY, CLINICAL PSYCHOLOGY, PERFUSION SERVICES, NURSE ANESTHETIST, DENTISTRY, OPTOMETRY, VETERINARY MEDICINE, SPEECH LANGUAGE PATHOLOGY, AND GRADUATE EDUCATION PROGRAMS IN MEDICINE, AS WELL AS CONTINUING EDUCATION FOR STAFF AND ALUMNI. MIDWESTERN UNIVERSITY CONTINUED ITS RESEARCH AND TRAINING PROGRAMS WITH THE SUPPORT OF FEDERAL AND PRIVATE FUNDING. MIDWESTERN UNIVERSITY CLINICS VALUE OF DISCOUNTED CARE PROVIDED $23,211,000 VALUE OF FREE CARE PROVIDED $1,938,000 THE MIDWESTERN UNIVERSITY CLINICS OPERATED AT THE ARIZONA AND/OR THE ILLINOIS CAMPUSES INCLUDE DENTAL INSTITUTES, EYE INSTITUTES, MULTISPECIALTY PRACTICES, THERAPY INSTITUTE, AND ANIMAL HEALTH INSTITUTE DESIGNED TO PROVIDE CLINICAL TEACHING SITES AND MEET A WIDE-RANGE OF HEALTHCARE NEEDS OF AREA PATIENTS. IN ACCORDANCE WITH THE UNIVERSITY'S ACADEMIC MISSION, THE FEE SCHEDULES AT THE TWO DENTAL INSTITUTES HAVE BEEN REDUCED TO APPROXIMATELY 50% OR MORE OF USUAL AND CUSTOMARY CHARGES. AS A RESULT, DURING FISCAL YEAR ENDED JUNE 30, 2023, MWU PATIENTS PAID $23,211,000 LESS IN PATIENT SERVICE FEES THAN THEY WOULD HAVE HAD MWU CHARGED USUAL AND CUSTOMARY FEES. ALSO, THE UNIVERSITY HAS A DISCOUNT PROGRAM WHEREBY LOW-INCOME INDIVIDUALS CAN APPLY FOR FREE CARE AT MWU CLINICS BASED ON THE FEDERAL POVERTY GUIDELINES. THE TOTAL DISCOUNTS IN FISCAL YEAR ENDED JUNE 30, 2023, WERE $993,000 AT STATED PATIENT SERVICE CHARGES. HAD MWU CHARGED USUAL AND CUSTOMARY FEES, THE VALUE OF THE DISCOUNTS WOULD HAVE BEEN $1,938,000.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $8,137,080
Program Service Revenue $486,419,994
Investment Income $22,069,324
Other Revenue $1,464,835
TOTAL REVENUE $518,091,233

Expense Breakdown

Grants Paid $3,491,338
Salaries & Benefits $254,761,474
Fundraising Expenses $667,060
Program Expenses $366,036,284
Other Expenses $135,414,702
TOTAL EXPENSES $393,667,514

Year-over-Year Comparison

2022 2021 Change
Revenue $518,091,233 $519,542,731 0.0%
Expenses $393,667,514 $379,788,171 +0.0%
Net Income $124,423,719 $139,754,560 -0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
18
Independent Members
16
Employees
4043
Volunteers
3203

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
17
$10,477,979
Total Directors
19
$3,043,984
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A CHAIRPERSON, TRUSTEE 1.0
Officer Director
$0 $0 $0
N/A VICE CHAIRPERSON, TRUSTEE 1.0
Officer Director
$0 $0 $0
N/A PRESIDENT, CEO, TRUSTEE 40.0
Officer Director
$2,994,092 $49,892 $3,043,984
N/A SECRETARY, TREASURER, TRUSTEE 1.0
Officer Director
$0 $0 $0
N/A TRUSTEE, THROUGH AUGUST 2022 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE AS OF DECEMBER 6, 2022 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE AS OF DECEMBER 6, 2022 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A LIFE TRUSTEE AS OF DECEMBER 6, 2022 0.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A VICE PRESIDENT, HUMAN RESOURCES GANIZATIONAL DEVELOPMENT 40.0
Officer
$353,767 $32,656 $386,423
N/A SR. VICE PRESIDENT ADMINISTRATION AND COMMUNICATIONS 40.0
Officer
$637,253 $59,726 $696,979
N/A VICE PRESIDENT & GENERAL COUNSEL 40.0
Officer
$634,203 $44,737 $678,940
N/A VICE PRESIDENT OF OPERATIONS 40.0
Officer
$487,455 $59,114 $546,569
N/A VICE PRESIDENT, SPECIAL ASSISTANT FOR FINANCE, LAST DAY OF WORK 7/1/2022 40.0
Officer
$566,438 $46,690 $613,128
N/A VICE PRESIDENT, FINANCE 40.0
Officer
$428,688 $54,030 $482,718
N/A SR. VICE PRESIDENT & CHIEF ACADEMIC OFFICER 40.0
Officer
$781,795 $60,532 $842,327
N/A VICE PRESIDENT, CLINIC OPERATIONS 40.0
Officer
$286,388 $51,942 $338,330
N/A VICE PRESIDENT & CHIEF ACADEMIC OFFICER, LAST DAY OF WORK 07/01/2022 40.0
Officer
$599,943 $43,060 $643,003
N/A VICE PRESIDENT & CHIEF ACADEMIC OFFICER 40.0
Officer
$650,265 $59,943 $710,208
N/A VICE PRESIDENT, ASSISTANT TO THE PRESIDENT 40.0
Officer
$304,074 $30,608 $334,682
N/A ASSISTANT TREASURER, CFO, VICE PRESIDENT 40.0
Officer
$560,154 $59,606 $619,760
N/A VICE PRESIDENT, CHIEF ACADEMIC OFFICER 40.0
Officer
$500,474 $40,454 $540,928
N/A DEAN, COLLEGE OF DENTAL MEDICINE - ILLINOIS 40.0
Highest
$523,053 $51,908 $574,961
N/A DEAN OF MEDICINE 40.0
Highest
$535,573 $52,187 $587,760
N/A DEAN, COLLEGES OF PHARMACY 40.0
Highest
$516,345 $59,464 $575,809
N/A DEAN STUDENT SERVICES 40.0
Highest
$575,444 $51,908 $627,352
N/A DEAN OF MEDICINE 40.0
Highest
$542,475 $52,181 $594,656
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 $518,091,233 $393,667,514 $1,942,110,046 $124,423,719
2022 $519,542,731 $379,788,171 $1,816,520,106 $139,754,560
2021 $501,547,069 $364,341,797 $1,723,437,982 $137,205,272
2020 $479,773,396 $358,608,193 $1,563,955,425 $121,165,203
2019 $481,652,089 $364,517,777 $1,548,970,427 $117,134,312
2018 $464,714,826 $344,242,055 $1,422,394,557 $120,472,771
Explore More Nonprofits
Top 100 Nonprofits in Illinois Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare Midwestern University with other nonprofits in Illinois and across the country.