MIDLAND UNIVERSITY (EIN 470376551) - 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

1883

Legal Domicile

Principal Officer

DR ALY WILLIAMS

Phone

4027215480

Tax Period

2024-06-01 to 2025-05-31

MIDLAND UNIVERSITY, founded in 1883, is a mid-sized nonprofit in the Education sector that reported $64.5M in total revenue in fiscal year 2024.

Mission

MIDLAND UNIVERSITY INSPIRES PEOPLE TO LEARN AND LEAD IN THE WORLD WITH PURPOSE. WE ARE A LIBERAL ARTS COLLEGE AFFILIATED WITH THE EVANGELICAL LUTHERAN CHURCH IN AMERICA. THE UNIVERSITY HOLDS THE FOLLOWING CORE VALUES TO BE THE FOUNDATION OF OUR IDENTITY AS A COMMUNITY: FAITH, LEARNING, QUALITY, RESPECT, AND STEWARDSHIP.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,696,676

Program Service Revenue $55,823,862

Investment Income $2,674,266

Other Revenue $1,325,807

TOTAL REVENUE $64,520,611

Expense Breakdown

Grants Paid $30,612,715

Salaries & Benefits $17,345,209

Fundraising Expenses $790,169

Program Expenses $57,831,728

Other Expenses $16,587,869

TOTAL EXPENSES $64,545,793

Year-over-Year Comparison

	2024	2023	Change
Revenue	$64,520,611	$62,301,398	+0.0%
Expenses	$64,545,793	$62,839,339	+0.0%
Net Income	$-25,182	$-537,941	-1.0%

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

872

Volunteers

100

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

$753,574

Total Directors

$296,516

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JODY HORNER	PRESIDENT (THRU 5/2025)	40.00	Officer Director	$275,057	$21,459	$296,516
JEFF JAMROG	HEAD FOOTBALL COACH	40.00	Highest	$162,674	$19,304	$181,978
JAMIE SIMPSON	CHIEF ACADEMIC OFFICER	40.00	Officer	$165,057	$4,230	$169,287
JOSEPH HARNISCH	CHIEF FINANCIAL OFFICER	40.00	Officer	$143,450	$22,614	$166,064
SHANE PERRIEN	CHIEF INFORMATION OFFICER	40.00	Highest	$138,756	$15,178	$153,934
KRISTINA CAMMARANO	VICE PRESIDENT OF STUDENT AFFAIRS	40.00	Highest	$138,718	$3,980	$142,698
COURTNEY THOMSEN	DIRECTOR OF ATHLETICS	40.00	Highest	$117,622	$24,013	$141,635
LORI ETHIER	VP OF ENROLLMENT & MARKETING	40.00	Highest	$130,488	$3,965	$134,453
JODI BENJAMIN	CHIEF OPERATING OFFICER (THRU 9/2024)	40.00	Officer	$110,167	$11,540	$121,707
DR ALY WILLIAMS	PRESIDENT (BEGAN 4/2025)	40.00	Officer Director	$0	$0	$0
STEVE FEYE	CHAIR	1.00	Officer Director	$0	$0	$0
TONY URBAN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PEGGY HALL	SECRETARY	1.00	Officer Director	$0	$0	$0
AMBER BARTON	DIRECTOR	1.00	Director	$0	$0	$0
BRET GREISS	DIRECTOR	1.00	Director	$0	$0	$0
BRETT RICHMOND	DIRECTOR	1.00	Director	$0	$0	$0
MARK SHEPARD	DIRECTOR	1.00	Director	$0	$0	$0
MARY SHANNON	DIRECTOR	1.00	Director	$0	$0	$0
RICO MUNN	DIRECTOR	1.00	Director	$0	$0	$0
TOM WALKER	DIRECTOR	1.00	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	$64,520,611	$64,545,793	$73,589,111	$-25,182
2024	$62,301,398	$62,839,339	$73,635,881	$-537,941
2023	$58,517,118	$63,174,265	$72,241,185	$-4,657,147
2022	$60,429,384	$59,216,163	$77,234,714	$1,213,221
2021	$60,767,041	$56,924,402	$84,010,035	$3,842,639
2020	$50,754,700	$50,489,863	$77,126,559	$264,837
2019	$52,011,662	$49,665,725	$67,371,020	$2,345,937
2018	$53,073,796	$47,009,460	$66,862,782	$6,064,336

MIDLAND UNIVERSITY