MIDWESTERN UNIVERSITY FOUNDATION

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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

1994

Legal Domicile

Phone

6305157145

Tax Period

2022-07-01 to 2023-06-30

MIDWESTERN UNIVERSITY FOUNDATION, founded in 1994, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2022. Revenue surged 69% from the prior year, signaling strong growth momentum. The organization ran a surplus of $730K, a strong 19% operating margin.

Mission

TO BENEFIT MIDWESTERN UNIVERSITY BY PROVIDING FUNDING FOR PRIVATE LOANS TO STUDENTS OF THE UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $2,920,067 Revenue: $3,496,831

Midwestern University Foundation provided funding for federally guaranteed loans for students of the University under the Federal Family Education Loan (FFEL) Program. This program ended in 2010. In 2014, the Foundation created a new private loan program called the Midwestern University Private Loan Program (MPL Program) funded through the combination of equity and tax-exempt debt. The MPL program functions like the FFEL Program loans in some respects and like other private loan programs in other respects. Unlike loans made under the FFEL Program, loans made under the MPL Program are made by the Foundation directly to students and are not guaranteed by the federal government. Since the inception of the MPL Program, there have been loans awarded in the amount of $86,461,000 as of June 30, 2023. Foundation Bonds issued to fund the MPL Program are limited obligations of the Foundation, secured by and payable solely and exclusively from the student loans and related revenues and other assets comprising the trust estates created by the Trust Indentures pursuant to which those Foundation Bonds have been issued. The trust indentures for the Foundation Bonds contain numerous restrictions and requirements applicable to the MPL Program and the assets comprising the trust estates.

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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 $0

Program Service Revenue $2,466,273

Investment Income $1,378,910

Other Revenue $0

TOTAL REVENUE $3,845,183

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,920,067

Other Expenses $3,114,899

TOTAL EXPENSES $3,114,899

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,845,183	$2,272,539	+0.7%
Expenses	$3,114,899	$3,131,353	0.0%
Net Income	$730,284	$-858,814	-1.9%

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

N/A

Volunteers

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

$4,759,590

Total Directors

$3,043,984

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	VICE CHAIRPERSON/DIRECTOR	1.0	Officer Director	$0	$0	$0
N/A	PRESIDENT/CEO/DIRECTOR	1.0	Officer Director	$0	$49,892	$3,043,984
N/A	Secretary/Treasurer/DIRECTOR	1.0	Officer Director	$0	$0	$0
N/A	CHAIRPERSON/DIRECTOR	1.0	Officer Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	VP, SPECIAL ASSISTANT FOR FINANCE, LAST DAY OF WORK 7/1/2022	1.0	Officer	$0	$46,690	$613,128
N/A	VP FINANCE	1.0	Officer	$0	$54,030	$482,718
N/A	ASSISTANT TREASURER/CFO/VP	1.0	Officer	$0	$59,606	$619,760

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	$3,845,183	$3,114,899	$88,680,176	$730,284
2022	$2,272,539	$3,131,353	$93,580,538	$-858,814
2021	$1,129,249	$2,419,512	$61,061,640	$-1,290,263
2020	$1,821,412	$3,051,280	$63,864,425	$-1,229,868
2019	$1,528,957	$1,418,679	$75,388,358	$110,278
2018	$1,629,444	$1,353,773	$34,675,638	$275,671