Midwestern University (EIN 363377698) - Form 990 Financial Analysis & Trantor Score

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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

1900

Legal Domicile

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 $464.7M in total revenue in fiscal year 2017. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $120.5M, a strong 26% operating margin.

Mission

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

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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 $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

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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

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

$10,477,979

Total Directors

$3,043,984

Key Employees

Highest Compensated

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

Midwestern University