LOYOLA MARYMOUNT UNIVERSITY

Financial Trends

Organization Details

LOYOLA MARYMOUNT UNIVERSITY, founded in 1918, is a major nonprofit in the Education sector that reported $778.7M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $707.0M left a modest 9% surplus.

Mission

SOCIAL CLUB DUES TWO OFFICERS AND TWO KEY EMPLOYEES RECEIVED SOCIAL CLUB DUES AND REIMBURSE THE UNIVERSITY FOR ANY PERSONAL USE. PAYMENT OF SOCIAL CLUB DUES FOR BUSINESS USE IS IN ACCORDANCE WITH UNIVERSITY POLICY. BUSINESS USE IS NON-TAXABLE TO THE INDIVIDUALS LISTED ABOVE IN ACCORDANCE WITH THE IRS ACCOUNTABLE PLAN RULES. CHARTER TRAVEL THE UNIVERSITY UTILIZES CHARTER TRAVEL ON OCCASION FOR ATHLETIC TEAMS AND FOR ASSOCIATED ATHLETIC STAFF AS PART OF THEIR OFFICIAL RESPONSIBILITIES. TWO OF THE TOP 5 HIGHEST COMPENSATED EMPLOYEES AND ONE KEY EMPLOYEE UTILIZED SUCH CHARTER TRAVEL DURING CALENDAR YEAR 2024. THE VALUE OF SUCH TRAVEL WASNOT TREATED AS TAXABLE INCOME. TRAVEL FOR COMPANIONS THE UNIVERSITY PROVIDED TRAVEL REIMBURSEMENT FOR ONE OFFICER'S SPOUSE RELATED TO UNIVERSITY BUSINESS. THE BOARD OF TRUSTEES HAS APPROVED SPOUSAL TRAVEL FOR CERTAIN FUNDRAISING EVENTS IN WHICH THE SPOUSE IS ACTING AS AN AGENT FOR THE UNIVERSITY DURING THESE EVENTS. THESE REIMBURSEMENTS WERE NON-TAXABLE IN ACCORDANCE WITH THE IRS ACCOUNTABLE PLAN RULES. THE UNIVERSITY ALSO PROVIDED COMPANION TRAVEL IN CONNECTION WITH CHARTER TRAVEL FOR ATHLETIC TEAMS. TWO OF THE TOP 5 HIGHEST COMPENSATED EMPLOYEES AND ONE KEY EMPLOYEE UTILIZED COMPANION TRAVEL DURING CALENDAR YEAR 2024. THE VALUE OF SUCH TRAVEL WAS NOT TREATED AS TAXABLE INCOME. RESIDENCE FOR PERSONAL USE HOUSING IS PROVIDED TO THE CURRENT PRESIDENT IN PROXIMITY TO THE UNIVERSITY CAMPUS. THE VALUE OF HOUSING IS NOT REPORTED ON FORM W-2 AS TAXABLE INCOME AS THE PRESIDENT IS REQUIRED TO ACCEPT SUCH LODGING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY. THE RENTAL VALUE OF THE PORTION OF THE PRESIDENT'S HOME THAT IS USED FOR PERSONAL PURPOSES IS INCLUDED AS A NONTAXABLE BENEFIT TO THE PRESIDENT AND IS REPORTED ON SCHEDULE J, PART II, COLUMN (D). HOUSING ALLOWANCE & RELOCATION EXPENSE TEMPORARY AND PERMANENT HOUSING ALLOWANCE AND RELOCATION EXPENSES MAY BE PROVIDED WHEN EXECUTIVES ARE HIRED AND ARE RELOCATING FROM OUTSIDE THE AREA. TEMPORARY AND PERMANENT HOUSING ALLOWANCES WERE PROVIDED DURING THE REPORTING PERIOD. ONE OFFICER, THREE KEY EMPLOYEES AND ONE OF THE TOP 5 HIGHEST COMPENSATED EMPLOYEES RECEIVED A TEMPORARY HOUSING ALLOWANCE. EACH ALLOWANCE IS TAXABLE IN ACCORDANCE WITH THE IRS ACCOUNTABLE PLAN RULES. ONE OF THE TOP 5 HIGHEST COMPENSATED EMPLOYEES RECEIVED A HOUSING ALLOWANCE AND ONE OFFICER RECEIVED RELOCATION EXPENSE. EACH ALLOWANCE IS TAXABLE IN ACCORDANCE WITH THE IRS ACCOUNTABLE PLAN RULES. EXPENSES AND REIMBURSEMENTS FOR THE ABOVE NOTED ITEMS ARE REVIEWED AND APPROVED AS APPROPRIATE BY THE RELEVANT AUTHORITIES. WHILE THE UNIVERSITY DOES NOT HAVE A SEPARATE WRITTEN POLICY REGARDING PAYMENT AND REIMBURSEMENT FOR THOSE EXPENSES, THE UNIVERSITY POLICY FOR ALL REIMBURSEMENTS IS COMPREHENSIVE AND UNUSUAL EXPENSES, IF ANY, OR REIMBURSEMENT REQUESTS, IF ANY, WOULD BE EVALUATED.

Financial Overview (2024)

Year-over-Year Comparison

Governance

Special Practices & Reported Activities

Compensation of Officers, Directors & Key Employees

Historical Data