Midwestern University FY2020 filing

Tax-deductible

Downers Grove, IL501(c)(3)Since 1900Colleges & UniversitiesEIN 36-3377698Revenue $479.8M in FY2020

On file with the IRS555 31st St, 60515-1235 · Downers Grove, ILTax-exempt since Sep 1996School — 170(b)(1)(A)(ii)

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Midwestern university's historical and sustaining philosophy dedicates the institution and its resources to the highest standards of academic excellence to meet the educational needs of the health care community.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$10.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $125.4M a year · 24% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$10.4M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$317.5M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 16 voting members
Looks good: 14 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$479.8M
Spent
$358.6M
To programs
91%
Net assets
$1.2B
By yearFY2020–FY2025
Revenue
$479.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$479.8M
FY2021$501.5M
FY2022$519.5M
FY2023$518.1M
FY2024$537.5M
FY2025$555.7M
Expenses
$358.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$358.6M
FY2021$364.3M
FY2022$379.8M
FY2023$393.7M
FY2024$422.8M
FY2025$440.8M
Net assets
$1.2B
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2B
FY2021$1.4B
FY2022$1.5B
FY2023$1.7B
FY2024$1.8B
FY2025$2.0B

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $327.6M Management & general 8% · $30.2M Fundraising 0% · $786K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

32 people listed on the 990; $10.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President/CEO/Trustee
$1,536,029Pt VII · Sec A
Assistant Treasurer/CFO/Senior VP
$978,541Pt VII · Sec A
VP / Assistant to the President
$641,397Pt VII · Sec A
VP Cao Medicine and Dental - Retired
$635,495Pt VII · Sec A
VP Cao Health Sciences
$624,690Pt VII · Sec A
VP of Research and Strategic Studies
$618,721Pt VII · Sec A
VP & General Counsel
$551,234Pt VII · Sec A
VP Finance
$530,862Pt VII · Sec A

Kathleen H Goeppinger PHD’s $1.9M as President, CEO, Trustee Retired May 19, 2025 is at the 89th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kathleen H Goeppinger PHD$1,914,851$1,826,086$2,994,092$1,758,242$1,702,980$1,536,029
Barbara L McCloud ESQ$1,153,908$608,699$634,203$604,523$565,436$551,234
Gregory J Gaus———$1,093,811$1,019,478$978,541
Joshua C Baker Od Ms$897,889$904,333————
Theresa W Fossum PHD DVM————$902,362$618,721
Joshua C Baker——$781,795$658,317$575,616$440,047
Matthew J Sweeney CPA$736,850$708,646————
Angela Marty Ma Phr$702,446$661,285————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates healthcare professionals to the highest academic standards.

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Provided by the organization

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1 program · $327.6M · in their own filed words · FY2019
01

Description of program service accomplishments during the fiscal year ended june 30, 2020, midwestern university provided health sciences education services to approximately 6,820 pre-doctoral students and 69 post-doctoral students. These student services are located on three campuses, two in illinois and one in arizona.

$327.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$25K
Grants paid · 32 grants · $35.0M · 2019–2024
Unitemized GrantFY2024$7,936,783
Unitemized GrantFY2024$615,739
Unitemized GrantFY2024$143,077
Islamic Center of NapervilleIL · FY2024$10,000
Unitemized GrantFY2023$4,386,185
Unitemized GrantFY2023$259,543
Unitemized GrantFY2023$25,579
Unitemized GrantFY2022$2,637,423
Unitemized GrantFY2022$778,917
Unitemized GrantFY2022$31,002
Indian American Medical Association Charitable FoundationFY2022$20,000
See all 32 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$479.8M
Ln 12
Fees for servicesLn 2g$461.6M
Investment incomeLn 3$9.3M
Gifts and grantsLn 1h$6.1M
Money outPt IX
$358.6M
Ln 25
Programscol B$327.6M
Managementcol C$30.2M
Fundraisingcol D$786K
Owns and owesPt X
$1.2B
net assets · Ln 32
Cash and savingsLn 1–2$56.6M
Total assetsLn 16$1.6B
LiabilitiesLn 26$317.5M
PeoplePt VI, VII
32
listed · VII A
PaidVII A17
Voting boardVI 1a16
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.1M
Government grantsLn 1e$2.6M
Noncash giftsLn 1g$130K
Fundraising eventsLn 1c$108K
Fees for servicesLn 2g$461.6M
Investment incomeLn 3$9.3M
Other incomeLn 4–11$2.8M
Gains on assetsLn 7−$2.4M
Total revenueLn 12$479.8M
Assets in detailPt X, end of year
CashLn 1$56.6M
Cash and savings togetherLn 1–2$56.6M
InvestmentsLn 11–13$722.4M
Land, buildings, equipmentLn 10c$753.5M
Other assetsLn 15$16.9M
Total assetsLn 16$1.6B
LiabilitiesLn 26$317.5M
Net assetsLn 32$1.2B
OperationsPt I, VI
EmployeesI 54,322
VolunteersI 62,876
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$484.4M$56.6M
InvestmentsLn 11–13$301.6M$722.4M
Land, buildings, equipmentLn 10c$734.7M$753.5M
Total assetsLn 16$1.55B$1.56B
LiabilitiesLn 26$422.6M$317.5M
Net assetsLn 32$1.13B$1.25B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9K$9K
Grants to domestic individualsLn 2$3.2M$3.2M
Pay of current officers, directors and key staffLn 5$7.2M$3.6M$3.6M
Pay of disqualified personsLn 6$35K$35K
Other salaries and wagesLn 7$177.4M$169.6M$7.5M$326K
Pension plan contributionsLn 8$14.7M$13.9M$802K$23K
Other employee benefitsLn 9$23.9M$22.6M$1.2M$36K
Payroll taxesLn 10$10.5M$9.8M$711K$21K
Legal feesLn 11b$707K$427K$280K
Accounting feesLn 11c$546K$64K$482K
Lobbying feesLn 11d$274K$274K
Investment management feesLn 11f$806K$40K$766K
Other fees for servicesLn 11g$12.4M$11.1M$1.3M$84K
Advertising and promotionLn 12$673K$516K$102K$55K
Office expensesLn 13$19.3M$10.3M$8.9M$41K
Information technologyLn 14$1.8M$1.7M$58K$0
OccupancyLn 16$6.4M$6.2M$159K
TravelLn 17$1.3M$1.1M$173K$5K
Conferences, conventions and meetingsLn 19$1.2M$1.2M$18K$1K
InterestLn 20$7.1M$6.9M$255K
Depreciation, depletion and amortizationLn 22$39.0M$38.2M$858K
InsuranceLn 23$3.8M$2.1M$1.7M$2K
Other expenses (24a–d)Ln 24$16.7M$16.7M$4K
All other expensesLn 24e$9.5M$8.4M$954K$192K
Total functional expensesLn 25$358.6M$327.6M$30.2M$786K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $555.7M$440.8M$114.9M$2.0B 990 PDF
FY2024 $537.5M$422.8M$114.7M$1.8B 990 PDF
FY2023 $518.1M$393.7M$124.4M$1.7B 990 PDF
FY2022 $519.5M$379.8M$139.8M$1.5B 990 PDF
FY2021 $501.5M$364.3M$137.2M$1.4B 990 PDF
FY2020 Viewing $479.8M$358.6M$121.2M$1.2B 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $479,773,396 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,745,623$6,100,212
I-9 Program service revenuePrior year $456,730,984$461,574,853
I-10 Investment incomePrior year $17,284,094$9,331,169
I-11 Other revenuePrior year $2,891,388$2,767,162
I-12 Total revenuePrior year $481,652,089$479,773,396
I-13 Grants and similar amounts paidPrior year $2,470,254$3,206,765
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $235,100,738$233,796,404
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $126,946,785$121,605,024
I-18 Total expensesPrior year $364,517,777$358,608,193
I-19 Revenue less expensesPrior year $117,134,312$121,165,203
Part VI · Governance 14 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $479,773,396 across 11 lines filed
Lines not itemized here account for $1,172,546 of total revenue; see the IRS return.
VIII-1c Fundraising events$108,470
VIII-1e Government grants$2,569,554
VIII-1f All other contributions, gifts and grants$3,422,188
VIII-1g Noncash contributions (included above)$130,222
VIII-1h Total contributions, gifts and grants$6,100,212
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $461,574,853$461,574,853
VIII-3 Investment incomeUnrelated business $8,666 · Excluded from tax $11,710,356$11,719,022
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,387,853−$2,387,853
VIII-8 Net income from fundraising eventsExcluded from tax −$69,015−$69,015
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,663,631$1,663,631
VIII-12 Total revenueRelated to mission $463,515,015 · Unrelated business $8,666 · Excluded from tax $10,149,503$479,773,396
Part IX · Statement of functional expenses $358,608,193 across 24 lines filed
IX-1 Grants to domestic organizationsPrograms $8,913$8,913
IX-2 Grants to domestic individualsPrograms $3,197,852$3,197,852
IX-5 Pay of current officers, directors and key staffPrograms $3,576,798 · Management $3,619,891$7,196,689
IX-6 Pay of disqualified personsManagement $34,814$34,814
IX-7 Other salaries and wagesPrograms $169,567,299 · Management $7,549,237 · Fundraising $325,982$177,442,518
IX-8 Pension plan contributionsPrograms $13,867,469 · Management $801,850 · Fundraising $23,330$14,692,649
IX-9 Other employee benefitsPrograms $22,625,746 · Management $1,224,107 · Fundraising $35,616$23,885,469
IX-10 Payroll taxesPrograms $9,812,442 · Management $711,132 · Fundraising $20,691$10,544,265
IX-11b Legal feesPrograms $427,111 · Management $280,244$707,355
IX-11c Accounting feesPrograms $64,268 · Management $481,500$545,768
IX-11d Lobbying feesManagement $273,710$273,710
IX-11f Investment management feesPrograms $40,016 · Management $766,290$806,306
IX-11g Other fees for servicesPrograms $11,052,031 · Management $1,295,208 · Fundraising $83,667$12,430,906
IX-12 Advertising and promotionPrograms $516,085 · Management $101,969 · Fundraising $54,991$673,045
IX-13 Office expensesPrograms $10,312,300 · Management $8,920,588 · Fundraising $41,482$19,274,370
IX-14 Information technologyPrograms $1,719,816 · Management $58,168 · Fundraising $0$1,777,984
IX-16 OccupancyPrograms $6,195,286 · Management $159,077$6,354,363
IX-17 TravelPrograms $1,129,182 · Management $172,996 · Fundraising $4,584$1,306,762
IX-19 Conferences, conventions and meetingsPrograms $1,209,492 · Management $17,834 · Fundraising $1,435$1,228,761
IX-20 InterestPrograms $6,881,058 · Management $254,747$7,135,805
IX-22 Depreciation, depletion and amortizationPrograms $38,184,773 · Management $857,782$39,042,555
IX-23 InsurancePrograms $2,074,787 · Management $1,705,364 · Fundraising $1,743$3,781,894
IX-24 Other expenses (24a–d)Programs $16,731,898 · Management $4,184$16,736,082
IX-24e All other expensesPrograms $8,382,918 · Management $953,954 · Fundraising $192,486$9,529,358
IX-25 Total functional expensesPrograms $327,577,540 · Management $30,244,646 · Fundraising $786,007$358,608,193
Part X · Balance sheet $1,563,955,425 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $484,363,309$56,610,981
X-3 Pledges and grants receivableStart of year $315,070$535,239
X-4 Accounts receivableStart of year $7,306,375$6,616,798
X-8 Inventories for sale or useStart of year $1,873,559$2,123,954
X-9 Prepaid expenses and deferred chargesStart of year $4,303,679$5,227,631
X-10c Land, buildings and equipment, netStart of year $734,666,884$753,537,500
X-11 Publicly traded securitiesStart of year $239,705,749$652,494,829
X-12 Other securitiesStart of year $26,638,817$36,023,136
X-13 Program-related investmentsStart of year $35,296,445$33,921,928
X-15 Other assetsStart of year $14,500,540$16,863,429
X-16 Total assetsStart of year $1,548,970,427$1,563,955,425
X-17 Accounts payable and accrued expensesStart of year $55,367,871$50,201,445
X-18 Grants payableStart of year $4,215,985$971,254
X-19 Deferred revenueStart of year $54,282,643$56,522,687
X-20 Tax-exempt bond liabilitiesStart of year $248,109,749$166,664,066
X-25 Other liabilitiesStart of year $60,580,145$43,144,607
X-26 Total liabilitiesStart of year $422,556,393$317,504,059
X-27 Net assets without donor restrictionsStart of year $1,109,530,634$1,228,115,764
X-28 Net assets with donor restrictionsStart of year $16,883,400$18,335,602
X-32 Total net assets or fund balancesStart of year $1,126,414,034$1,246,451,366
X-33 Total liabilities and net assetsStart of year $1,548,970,427$1,563,955,425
Part XI · Reconciliation of net assets $1,246,451,366 net assets at year end
XI-1 Total revenue$479,773,396
XI-2 Total expenses$358,608,193
XI-3 Revenue less expenses$121,165,203
XI-4 Net assets at start of year$1,126,414,034
XI-5 Net unrealized gains (losses) on investments$3,609,829
XI-9 Other changes in net assets−$4,737,700
XI-10 Net assets at end of year$1,246,451,366

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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