Marylhurst University FY2020 filing

Portland, ORHigher education institution EIN 93-0634049

On file with the IRSmarylhurst.edu520 Sw Yamhill St No 500 · Portland, OR

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The University closed as of december 31, 2018 and is in the process of dissolving.

25¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $1.6M a year · 195% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
25%
of spending
Concern: 25% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
92 mo
of spending, in cash
Looks good: 92.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$361K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
-100% vs prior year
Spent
$392K
To programs
25%
Net assets
$3.0M
By yearFY2019–FY2021
Revenue
$0
FY2020▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2019$2.4M
FY2020$0
FY2021$0
Expenses
$392K
FY2020▼ -94%
Tap a bar for its year
Expenses by fiscal year
FY2019$6.1M
FY2020$392K
FY2021$649K
Net assets
$3.0M
FY2020▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2019$3.5M
FY2020$3.0M
FY2021$68K

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

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

Where the money goes

25 cents of each dollar spent went to programs.

Program services 25% · $99K Management & general 75% · $294K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Marylhurst University executive salaries →

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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 15aNo

Programs and updates

Dissolving operations and closing its university after December 31, 2018.

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Provided by the organization

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1 program · $99K · in their own filed words · FY2019
01

The university closed as of december 31, 2018 and is in the process of dissolving.

$99Kprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$392K
Ln 25
Programscol B$99K
Managementcol C$294K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$3.3M
LiabilitiesLn 26$361K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$3.0M
Cash and savings togetherLn 1–2$3.0M
Total assetsLn 16$3.3M
LiabilitiesLn 26$361K
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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$3.5M$3.0M
Total assetsLn 16$3.8M$3.3M
LiabilitiesLn 26$361K$361K
Net assetsLn 32$3.5M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$17K$17K
Accounting feesLn 11c$43K$43K
Other fees for servicesLn 11g$188K$188K
Office expensesLn 13$46K$46K
Other expenses (24a–d)Ln 24$99K$99K
Total functional expensesLn 25$392K$99K$294K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $0$649K−$649K$68K 990 PDF
FY2020 Viewing $0$392K−$392K$3.0M 990 PDF
FY2019 $2.4M$6.1M−$3.7M$3.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,599$0
I-9 Program service revenuePrior year $792,958$0
I-10 Investment incomePrior year $1,539,896$0
I-11 Other revenuePrior year $88,547$0
I-12 Total revenuePrior year $2,430,000$0
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,709,129$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,428,233$392,467
I-18 Total expensesPrior year $6,137,362$392,467
I-19 Revenue less expensesPrior year −$3,707,362−$392,467
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $0 across 1 lines filed
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $392,467 across 5 lines filed
IX-11b Legal feesManagement $17,105$17,105
IX-11c Accounting feesManagement $42,501$42,501
IX-11g Other fees for servicesManagement $188,182$188,182
IX-13 Office expensesManagement $45,802$45,802
IX-24 Other expenses (24a–d)Programs $98,877$98,877
IX-25 Total functional expensesPrograms $98,877 · Management $293,590 · Fundraising $0$392,467
Part X · Balance sheet $3,338,804 assets, 8 lines filed
Asset lines not itemized here account for $320,784; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,511,959$3,016,951
X-4 Accounts receivableStart of year $1,069$1,069
X-16 Total assetsStart of year $3,833,812$3,338,804
X-17 Accounts payable and accrued expensesStart of year $360,580$360,580
X-26 Total liabilitiesStart of year $360,580$360,580
X-27 Net assets without donor restrictionsStart of year $3,473,232$2,978,224
X-32 Total net assets or fund balancesStart of year $3,473,232$2,978,224
X-33 Total liabilities and net assetsStart of year $3,833,812$3,338,804
Part XI · Reconciliation of net assets $2,978,224 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$392,467
XI-3 Revenue less expenses−$392,467
XI-4 Net assets at start of year$3,473,232
XI-9 Other changes in net assets−$102,541
XI-10 Net assets at end of year$2,978,224

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

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