North Central University

EIN: 410706151 501(c)(3) Education

MINNEAPOLIS, MN

Total Revenue
$32,346,499
Total Expenses
$32,506,010
Total Assets
$49,269,358
Net Assets
$35,743,072
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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
1930
Legal Domicile
MN
Phone
6123434464
Tax Period
2024-06-01 to 2025-05-31

North Central University, founded in 1930, is a mid-sized nonprofit in the Education sector that reported $32.3M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year.

Mission

TO TRAIN AND PREPARE LEADERS TO SERVE THEIR COMMUNITY, CHURCH, AND WORLD ACCORDING TO THEIR VOCATION AND GIFTS.

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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 $1,538,919
Program Service Revenue $29,823,770
Investment Income $1,029,601
Other Revenue $-45,791
TOTAL REVENUE $32,346,499

Expense Breakdown

Grants Paid $11,625,852
Salaries & Benefits $9,959,399
Fundraising Expenses $308,385
Program Expenses $28,485,593
Other Expenses $10,920,759
TOTAL EXPENSES $32,506,010

Year-over-Year Comparison

2024 2023 Change
Revenue $32,346,499 $35,319,667 -0.1%
Expenses $32,506,010 $36,667,729 -0.1%
Net Income $-159,511 $-1,348,062 -0.9%
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

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Governance

Voting Members
22
Independent Members
22
Employees
644
Volunteers
30

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
7
$568,246
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brad Trask Vice Chair 2.0
Officer Director
$0 $0 $0
Kathy Madson Secretary 2.0
Officer Director
$0 $0 $0
Shawn Dockter BOARD Chair 2.0
Officer Director
$0 $0 $0
Aaron Hlavin REGENT 2.0
Director
$0 $0 $0
Bill Svoboda REGENT 2.0
Director
$0 $0 $0
Chad McAtee REGENT 2.0
Director
$0 $0 $0
Fred Washington REGENT 2.0
Director
$0 $0 $0
Gary Denbow REGENT 2.0
Director
$0 $0 $0
Gary Grogan REGENT 2.0
Director
$0 $0 $0
John Davis REGENT 2.0
Director
$0 $0 $0
Julie Boynton REGENT 2.0
Director
$0 $0 $0
Linda Collins REGENT 2.0
Director
$0 $0 $0
Mark Dean REGENT 2.0
Director
$0 $0 $0
Nate Ruch REGENT 2.0
Director
$0 $0 $0
Patrick Guire REGENT 2.0
Director
$0 $0 $0
Peggy Dunston REGENT 2.0
Director
$0 $0 $0
Phil Schneider REGENT 2.0
Director
$0 $0 $0
Rob Ketterling REGENT 2.0
Director
$0 $0 $0
Steve Schaible REGENT 2.0
Director
$0 $0 $0
Steve Tripp REGENT 2.0
Director
$0 $0 $0
Toby Schneckloth REGENT 2.0
Director
$0 $0 $0
Winston Titus REGENT 2.0
Director
$0 $0 $0
Bethany Harshbarger VP of Enrollment & Student Devel 40.0
Officer
$96,864 $14,999 $111,863
Darnell Williams Sr FORMER FACULTY / PRESIDENT (START 05/2025) 40.0
Officer
$111,299 $17,543 $128,842
Douglas Graham Interim President (LEFT 05/2025) 40.0
Officer
$194,438 $16,401 $210,839
Katherine Ketterling VP Operations & HR 40.0
Officer
$92,729 $23,973 $116,702
Adam Sikorski Faculty 40.0
Highest
$108,098 $6,648 $114,746
Desiree Libengood Provost 40.0
Highest
$100,633 $8,978 $109,611
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 $32,346,499 $32,506,010 $49,269,358 $-159,511
2024 $35,319,667 $36,667,729 $50,696,042 $-1,348,062
2023 $35,126,055 $37,098,682 $47,336,353 $-1,972,627
2022 $37,778,406 $37,591,907 $48,028,269 $186,499
2021 $37,016,349 $37,492,544 $51,515,208 $-476,195
2020 $37,937,562 $36,226,026 $50,459,831 $1,711,536
2019 $33,919,324 $33,626,791 $44,847,970 $292,533
2018 $31,680,939 $31,573,739 $44,994,374 $107,200
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