Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2015.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
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
25 people listed on the 990; $2.6M paid to officers and key staff.
Michael Magee’s $630K as President is at the 94th percentile of top reported officer pay among 3683 $10–100M 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Michael Magee | $630,000 | $556,667 | $348,741 | — | — | — |
| Nisha Charkravarty | $402,000 | $209,766 | — | — | — | — |
| Therese Cannon | — | $157,500 | $214,988 | $310,275 | $286,650 | $278,678 |
| Vicki Chandler | $157,106 | $279,300 | $299,250 | $299,250 | $299,250 | $290,937 |
| Richard Holman | — | — | $166,667 | $250,000 | $240,155 | $229,202 |
| Nikolaus Pelka | — | $225,292 | $211,623 | $225,000 | $242,000 | $40,868 |
| Dollie Davis | $226,000 | $188,450 | $190,200 | $214,493 | $209,150 | $152,491 |
| Junko Green | — | $202,125 | $214,375 | $210,000 | $189,290 | $161,117 |
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
Empowering students with transformative education and opportunities, regardless of background.
Questions for Minerva University
Your first name shows with your question. Minerva University answers here, for everyone.
Know this organization? Claim it to add your story
Operate affordable, high quality educational programs leading to an undergraduate degree. To accomplish this, the institute identifies students, awards scholarships and other direct aid, provides instruction using high quality, scaffolded curricula on an innovate live video-based platform and immersive residential services in seven…
Operate high quality educational programs leading to a graduate degree. To accomplish this, the institute identifies students and provides instruction using high quality, scaffolded curricula on an innovative live video-based platform.
Operate high quality educational non-degree programs with a duration of a few weeks or up to a year. To accomplish this, the institute identifies students and provides instruction using high quality, scaffolded curricula on an innovate live video-based platform.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.3M | $23.6M |
| InvestmentsLn 11–13 | $5.8M | $921K |
| Land, buildings, equipmentLn 10c | $83K | $19K |
| Total assetsLn 16 | $14.5M | $57.5M |
| LiabilitiesLn 26 | $7.2M | $32.6M |
| Net assetsLn 32 | $7.3M | $24.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $2.7M | $2.7M | ||
| Grants and assistance to foreign recipientsLn 3 | $4.9M | $4.9M | ||
| Pay of current officers, directors and key staffLn 5 | $2.1M | $963K | $963K | $173K |
| Other salaries and wagesLn 7 | $11.6M | $10.4M | $1.2M | |
| Other employee benefitsLn 9 | $582K | $464K | $118K | |
| Payroll taxesLn 10 | $714K | $569K | $145K | |
| Legal feesLn 11b | $146K | $65K | $80K | |
| Accounting feesLn 11c | $120K | $120K | ||
| Other fees for servicesLn 11g | $1.5M | $761K | $712K | |
| Advertising and promotionLn 12 | $695K | $675K | $20K | |
| Office expensesLn 13 | $220K | $186K | $34K | |
| Information technologyLn 14 | $444K | $317K | $127K | |
| OccupancyLn 16 | $4.4M | $4.3M | $102K | |
| TravelLn 17 | $833K | $638K | $195K | |
| Depreciation, depletion and amortizationLn 22 | $172K | $109K | $63K | |
| InsuranceLn 23 | $373K | $42K | $331K | |
| Other expenses (24a–d)Ln 24 | $507K | $426K | $82K | |
| All other expensesLn 24e | $53K | $39K | $14K | |
| Total functional expensesLn 25 | $32.0M | $27.5M | $4.3M | $173K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $48.9M | $41.6M | $7.3M | $23.5M | 990 PDF |
| FY2024 | $33.0M | $41.6M | −$8.5M | $16.4M | 990 PDF |
| FY2023 Viewing | $49.8M | $32.0M | $17.7M | $24.9M | 990 PDF |
| FY2022 | $46.8M | $31.7M | $15.0M | $7.3M | 990 PDF |
| FY2021 | $22.5M | $29.5M | −$7.0M | $16.8M | 990 PDF |
| FY2020 | $54.2M | $30.9M | $23.3M | $23.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $49,762,971 revenue, 12 lines filed
Part VI · Governance 12 of 12 board members independent, no flags
Part VIII · Statement of revenue $49,762,971 across 9 lines filed
Part IX · Statement of functional expenses $32,023,798 across 18 lines filed
Part X · Balance sheet $57,538,847 assets, 16 lines filed
Part XI · Reconciliation of net assets $24,907,693 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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