MID-CONTINENT UNIVERSITY

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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

1949

Legal Domicile

Principal Officer

TIM WALKER

Phone

2702478521

Tax Period

2017-07-01 to 2018-06-30

MID-CONTINENT UNIVERSITY, founded in 1949, is a micro nonprofit that reported $158K in total revenue in fiscal year 2017.

Mission

MID-CONTINENT UNIVERSITY FILED FOR CHAPTER 11 BANKRUPTCY ON SEPTEMBER 30, 2014 AND IS CURRENTLY ACTIVELY MANAGING THEIR OWN LIQUIDATION PLAN APPROVED BY AND UNDER THE DIRECTION OF THOMAS H. FULTON, CHIEF JUDGE, UNITED STATES BANKRUPTCY COURT, LOUISVILLE, KY (502)627-5550. MCU CEASED INSTRUCTION OF STUDENTS AS OF JUNE 30, 2014 AND IS NOW MANAGING ITS LIQUIDATION PLAN APPROVED BY THE US BANKRUPTCY COURT, WESTERN DIVISION OF KENTUCKY.

Program Service Accomplishments

Program 1

Expenses: $150,333 Revenue: $441

MID-CONTINENT UNIVERSITY FILED FOR CHAPTER 11 BANKRUPTCY ON SEPTEMBER 30, 2014 AND IS CURRENTLY ACTIVELY MANAGING ITS OWN LIQUIDATION PLAN UNDER THE DIRECTION OF THOMAS H. FULTON, CHIEF JUDGE, UNITED STATES BANKRUPTCY COURT, LOUISVILLE, KY (502)627-5550. MCU CEASED INSTRUCTION OF STUDENTS AS OF JUNE 30, 2014.

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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 (2017)

Revenue Breakdown

Contributions & Grants $3,190

Program Service Revenue $0

Investment Income $-161,875

Other Revenue $441

TOTAL REVENUE $-158,244

Expense Breakdown

Grants Paid $131,244

Salaries & Benefits $211,473

Fundraising Expenses $0

Program Expenses $150,333

Other Expenses $298,213

TOTAL EXPENSES $640,930

Year-over-Year Comparison

	2017	2016	Change
Revenue	$-158,244	$-3,672,092	-1.0%
Expenses	$640,930	$1,834,706	-0.7%
Net Income	$-799,174	$-5,506,798	-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

Governance

Voting Members

Independent Members

Employees

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

$46,807

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDERSON TOM	TRUSTEE	1.00	Director	$0	$0	$0
BLAIR CHARLES	TRUSTEE	1.00	Director	$0	$0	$0
CROWELL CODY	TRUSTEE	1.00	Director	$0	$0	$0
FOSTER CHARLES	TRUSTEE	1.00	Director	$0	$0	$0
GILL MARK	TRUSTEE	1.00	Director	$0	$0	$0
HENLEY MELVIN	TRUSTEE	1.00	Director	$0	$0	$0
HICKLIN JOHN	TRUSTEE	1.00	Director	$0	$0	$0
HICKS EMMA	TRUSTEE	1.00	Director	$0	$0	$0
KUNATH PAUL	TRUSTEE	1.00	Director	$0	$0	$0
LANGFORD TIM	TRUSTEE	1.00	Director	$0	$0	$0
PENICK THURMAN	TRUSTEE	1.00	Director	$0	$0	$0
REEDER RICK	TRUSTEE	1.00	Director	$0	$0	$0
ROSE MIKE	CHAIRMAN	1.00	Director	$0	$0	$0
RUTHERFORD STEVE	TRUSTEE	1.00	Director	$0	$0	$0
SELLERS BOBBY	TRUSTEE	1.00	Director	$0	$0	$0
ZICKEFOOSE DANNY	SECRETARY	1.00	Director	$0	$0	$0
ZIOBRO ROB	TRUSTEE	1.00	Director	$0	$0	$0
WALKER TIM E	VP FOR FINANCE & ADMINISTR	18.00	Officer	$46,807	$0	$46,807

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
2018	$-158,244	$640,930	$8,114,569	$-799,174