2024-05-14T12:13:29-05:00 2023-06-30 390859910 BAKER TILLY US LLP 790 N WATER ST SUITE 2000 MILWAUKEE WI 53202 990 2022-07-01 390806154 MOUNT MARY UNIVERSITY INC MOUN 4149303033 2900 N MENOMONEE RIVER PARKWAY MILWAUKEE WI 53222 DR ISABELLE CHERNEY PRESIDENT 4149303126 2024-05-09 1 DR ISABELLE CHERNEY XXX-XX-XXXX 1 TROY MARINE CPA P00187863 4147775500 2024-05-09 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR ISABELLE CHERNEY 2900 N MENOMONEE RIVER PARKWAY MILWAUKEE WI 53222 52407057 0 X WWW.MTMARY.EDU X 1913 WI MOUNT MARY UNIVERSITY, INC. AN URBAN CATHOLIC UNIVERSITY FOR WOMEN, SPONSORED BY THE SCHOOL SISTERS OF NOTRE DAME, PROVIDES AN ENVIRONMENT FOR THE DEVELOPMENT OF THE WHOLE PERSON. THE UNIVERSITY ENCOURAGES LEADERSHIP, INTEGRITY, AND A DEEP SENSE OF SOCIAL JUSTICE ARISING FROM A SENSITIVITY TO MORAL VALUES AND CHRISTIAN PRINCIPLES.MOUNT MARY COMMITS ITSELF TO EXCELLENCE IN TEACHING AND LEARNING WITH AN EMPHASIS ON THINKING CRITICALLY AND CREATIVELY. THE BACCALAUREATE CURRICULUM INTEGRATES THE LIBERAL ARTS WITH CAREER PREPARATION FOR WOMEN OF DIVERSE AGES AND PERSONAL CIRCUMSTANCES; THE PROGRAMS AT THE GRADUATE LEVEL PROVIDE OPPORTUNITIES FOR BOTH MEN AND WOMEN TO ENHANCE THEIR PROFESSIONAL EXCELLENCE. 24 23 655 100 -11539 0 8230489 5768417 30677172 30536917 3746991 2936383 361812 241991 43016464 39483708 12002391 12854369 0 0 15652804 16783241 0 0 603040 11601212 10443150 39256407 40080760 3760057 -597052 76484409 73756805 11424016 8656851 65060393 65099954 X SEE SCHEDULE O. MOUNT MARY UNIVERSITY, AN URBAN CATHOLIC UNIVERSITY FOR WOMEN SPONSORED BY THE SCHOOL SISTERS OF NOTRE DAME, PROVIDES AN ENVIRONMENT FOR THE DEVELOPMENT OF THE WHOLE PERSON. THE UNIVERSITY ENCOURAGES LEADERSHIP, INTEGRITY, AND A DEEP SENSE OF SOCIAL JUSTICE ARISING FROM A SENSITIVITY TO MORAL VALUES AND CHRISTIAN PRINCIPLES. MOUNT MARY COMMITS ITSELF TO EXCELLENCE IN TEACHING AND LEARNING WITH AN EMPHASIS ON THINKING CRITICALLY AND CREATIVELY. THE BACCALAUREATE CURRICULUM INTEGRATES THE LIBERAL ARTS WITH CAREER PREPARATION FOR WOMEN OF DIVERSE AGES AND PERSONAL CIRCUMSTANCES; THE PROGRAMS AT THE GRADUATE LEVEL PROVIDE OPPORTUNITIES FOR BOTH MEN AND WOMEN TO ENHANCE THEIR PROFESSIONAL EXCELLENCE. 0 0 11701106 28754038 MOUNT MARY UNIVERSITY HAD APPROXIMATELY 928 UNDERGRADUATE (706 DEGREE SEEKING, 222 NON-DEGREE SEEKING) AND 581 GRADUATE STUDENTS ENROLLED FOR THE FISCAL YEAR ENDING JUNE 30, 2023. DURING THIS PERIOD, 100 BACHELORS DEGREES AND 5 POST BACCALAUREATE CERTIFICATES, 5 POST MASTERS CERTIFICATES, 22 DOCTORAL, AND 148 MASTER DEGREES WERE AWARDED TO STUDENTS. 1699994 THE UNIVERSITY SERVICED APPROXIMATELY 1,432 STUDENTS WITH VARIOUS STUDENT ENGAGEMENT AND COMMUNITY SUPPORTING INITIATIVES. I.E. STUDENT ADVISING, INTERNATIONAL CENTER FOR STUDENTS, COUNSELING CENTER, LIBRARY. 4160074 1737198 THE UNIVERSITY SERVICED APPROXIMATELY 1,432 STUDENTS WITH ADMISSIONS, RECRUITMENT, ORIENTATION, FINANCIAL AID, TUTORING, STUDENT ENGAGEMENT, CAMPUS MINISTRY, STUDENT ADVISING, FITNESS CENTER, CAREER DEVELOPMENT, COUNSELING CENTER, REGISTRAR, RESIDENT LIFE, INFORMATION TECHNOLOGY AND ATHLETIC TEAMS FOR SUPPORT OF THE WHOLE STUDENT. 12854369 12854369 235861 ALL OTHER PROGRAM SERVICES. 12854369 12854369 235861 30415543 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 165 0 1 655 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X BUSINESS OFFICE 4149303033 2900 N MENOMONEE RIVER PKWY MILWAUKEE WI 53222 ISABELLE CHERNEY PRESIDENT 50.00 X X 160089 0 8045 STEPHANIE RUSSELL CHAIR 1.00 X 0 0 0 ERICA-NICOLE HARRIS VICE CHAIR 1.00 X 0 0 0 ANN NATTINGER TRUSTEE 1.00 X 0 0 0 ANN TESMER TRUSTEE 1.00 X 0 0 0 BETH HEIKKILA TRUSTEE 1.00 X 0 0 0 DAVID JORGENSEN TRUSTEE 1.00 X 0 0 0 DAVID KRUTZ TRUSTEE 1.00 X 0 0 0 DR MARGARET CALLAHAN TRUSTEE 1.00 X 0 0 0 EILEEN SCHWALBACH TRUSTEE 1.00 X 0 0 0 HEATHER HERLING TRUSTEE 1.00 X 0 0 0 J OMAR ANDRIETSCH TRUSTEE 1.00 X 0 0 0 JEFF SCOTT TRUSTEE 1.00 X 0 0 0 JESSICA HELFER TRUSTEE 1.00 X 0 0 0 JOEL BRENNAN TRUSTEE 1.00 X 0 0 0 KAREN DAVIDSON TRUSTEE 1.00 X 0 0 0 LENA LEE TRUSTEE 1.00 X 0 0 0 LISA JANSEN TRUSTEE 1.00 X 0 0 0 MARIE O'BRIEN TRUSTEE 1.00 X 0 0 0 MARILKA VELEZ TRUSTEE 1.00 X 0 0 0 MARY JO LAYDEN TRUSTEE (TERM. 06/2023) 1.00 X 0 0 0 MAY YER THAO TRUSTEE 1.00 X 0 0 0 S SANDRA ANN WEINKE TRUSTEE (TERM. 04/2023) 1.00 X 0 0 0 SCOTT NAZE TRUSTEE 1.00 X 0 0 0 SISTER DEBRA SCIANO TRUSTEE 1.00 X 0 0 0 SISTER JANET ABBACCHI TRUSTEE (TERM. 06/2023) 1.00 X 0 0 0 SISTER JOAN ANDERT TRUSTEE 1.00 X 0 0 0 SUE BELLEHUMEUR TRUSTEE (TERM. 06/2023) 1.00 X 0 0 0 ROBERT O'KEEFE VICE PRESIDENT 50.00 X 143957 0 35460 KAREN FRIEDLEN VICE PRESIDENT 50.00 X 132186 0 39378 PAM OWENS VICE PRESIDENT 50.00 X 133522 0 18823 DAVID WEGENER VICE PRESIDENT 50.00 X 129351 0 17477 KERI ALIOTO VICE PRESIDENT 50.00 X 128175 0 16966 ROBERT SCHWARTZ CHIEF TRANSFORMATION AND INNOVATION OFFICER 50.00 X 108348 0 30860 CHERYL BAILEY DEAN 50.00 X 111380 0 26395 DAVID SMITH CIO 50.00 X 119743 0 11715 JANE OLSON PROFESSOR (TERM. 07/2023) 50.00 X 109442 0 17657 KARI INDA PROFESSOR AND CHAIR 50.00 X 104322 0 3368 1380515 0 226144 13 0 1 0 AMERICAN FOOD AND VENDING 124 METROPOLITAN PARK LIVERPOOL NY 13088 CATERING AND FOOD SERVICES 900910 VJS CONSTRUCTION W233 N2847 ROUNDY CIRCLE WEST PEWAUKEE WI 53072 CONSTRUCTION PROJECTS 581398 BUKACEK CONSTRUCTON GROUP 2429 SUMMIT AVE RACINE WI 53404 CONSTRUCTION PROJECTS 469902 IHOR HOME SERVICES LLC 965 ARLON COURT BELGIUM WI 53004 CLEANING SERVICES 281724 DELL MARKETING LLP PO BOX 802816 CHICAGO IL 60680 TECHNOLOGY/COMPUTER EQUIPMENT/SOFTWARE/P 234857 15 1283660 4484757 84470 5768417 STUDENT TUITION 611600 28754038 28754038 AUXILIARY ENTERPRISES 722320 1737198 1737198 INTEREST ON TUITION RE 611600 34064 34064 MMC COMMUNITY RENTAL 611600 9000 9000 DEPARTMENT REVENUE 900099 2617 2617 30536917 3079357 3079357 154172 102361 51811 51811 -11539 63350 12284882 393132 12627369 193619 -342487 199513 -142974 -142974 MISCELLANEOUS 611600 190180 190180 190180 39483708 30727097 -11539 2999733 12854369 12854369 1845059 794913 897801 152345 11900010 9578039 1959610 362361 234282 182692 45575 6015 1856867 1334312 489636 32919 947023 719892 196585 30546 429742 52195 367878 9669 90529 90529 765391 373407 391984 1952012 1415649 530155 6208 606534 40450 565997 87 2609269 1725169 881210 2890 217446 217446 1726745 1123770 602975 504145 504145 FOOD SERVICE COSTS 804348 804348 OTHER EXPENSES 534030 220686 313344 BAD DEBT ALLOWANCE 202959 202959 40080760 30415543 9062177 603040 3806321 2133168 1000957 1603569 4949347 3204885 499552 540968 564934 703793 67314692 40601910 26604197 26712782 38970101 38768640 89000 89000 76484409 73756805 1756057 1772563 853204 870536 7750036 5000410 1000000 1000000 64719 13342 11424016 8656851 X 30300473 33204272 34759920 31895682 65060393 65099954 76484409 73756805 X -597052 2551784 -1915171 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25553567 849632 2676263 1873000 27206462 28920096 2468717 -4720246 1115000 25553567 22877952 524644 6557504 1040004 28920096 23024287 336139 467526 950000 22877952 22583496 678609 1130178 796376 571620 23024287 0.01000 0.69000 0.30000 0 0 516846 516846 47507478 23993970 23513508 13921396 12639500 1281896 5368972 3968440 1400532 26712782 ANNUITY OBLIGATIONS 13342 13342 X 27277784 2551784 -1812810 738974 26538810 90529 12854369 12944898 39483708 27238223 102361 102361 27135862 90529 12854369 12944898 40080760 PART X, LINE 2: THE UNIVERSITY HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT IS A TAX-EXEMPT ORGANIZATION AS PROVIDED FOR IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME. NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS BECAUSE THE UNIVERSITY DOES NOT HAVE A SIGNIFICANT AMOUNT OF UNRELATED BUSINESS INCOME. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITION AS OF JUNE 30, 2023 AND 2022. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION FOR FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 102,361. EXCESS WITHDRAWALS OVER INCOME EARNED FOR POOLED ENDOWMENT INVESTMENT -1,873,000. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT 42,077. NET REALIZED LOSS ON BOND REFINANCING -84,248. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 12,854,369. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 102,361. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 12,854,369. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NEWSPAPER ANNOUNCEMENTS, BROCHURES, COURSE DESCRIPTIONS SCHEDULE E, PART I, LINE 6 VARIOUS GOVERNMENT GRANTS TO PROVIDE FINANCIAL AID TO STUDENTS EUROPE 0 0 AACUPI DUES EXPENDITURES 685 ROME 0 0 TRAVEL, HOTELS, MEALS, TOURS, TUITION, SCHOLARSHIPS, INSURANCE STUDY ABROAD 27633 NIGERIA 0 0 EDUCATIONAL SCHOLARSHIPS 16695 VIETNAM 0 0 EDUCATIONAL SCHOLARSHIPS 33390 VANCOUVER 0 0 EDUCATIONAL SCHOLARSHIPS 33410 IRELAND 0 0 EDUCATIONAL SCHOLARSHIPS 32700 0 0 0 0 0 0 144513 0 144513 0 0 0 0 0 0 PART I, LINE 2: INTERNATIONAL STUDENTS RECEIVE GRANT AWARDS FOR ATTENDING THE UNIVERSITY. IN THE US STUDENT'S ELIGIBILITY FOR GRANT SUPPORT IS DEPENDENT ONLY ON THEIR STATUS AS AN INTERNATIONAL STUDENT. THE ADMISSIONS AND REGISTRAR'S OFFICES VERIFY THE INTERNATIONAL STUDENT STATUS USING THEIR VISAS. THE FINANCIAL AID OFFICE POSTS THE FINANCIAL AID AWARD TO THEIR AID PACKAGE AND THE BUSINESS OFFICE POSTS THE AID ON THEIR STUDENT ACCOUNT. NO PAYMENTS OF CASH ARE MADE TO INTERNATIONAL STUDENTS DIRECTLY FOR THEIR GRANT AWARDS. PART III ACCOUNTING METHOD: 1 EDUCATIONAL SCHOLARSHIPS 649 12854369 PART I, LINE 2: EACH STUDENT IS REVIEWED BY TWO OR THREE INDIVIDUALS IN THE AWARDING PROCESS. STUDENTS ARE THEN AWARDED GRANT FUNDS BASED ON FEDERAL, STATE, AND INSTITUTIONAL REGULATIONS, GUIDELINES AND INSTITUTIONAL MATRIX PROCEDURES FOR MONITORING FUNDS ARE ALSO BUILT INTO THE COMPUTER AWARDING SOFTWARE. 1 X X X X X 0 0 0 0 0 0 0 0 0 ROBERT O'KEEFE VICE PRESIDENT 143957 0 0 0 0 0 5504 0 29956 0 179417 0 0 0 KAREN FRIEDLEN VICE PRESIDENT 132186 0 0 0 0 0 5151 0 34227 0 171564 0 0 0 ISABELLE CHERNEY PRESIDENT 153747 0 0 0 6342 0 0 0 8045 0 168134 0 0 0 PAM OWENS VICE PRESIDENT 133522 0 0 0 0 0 4902 0 13921 0 152345 0 0 0 PART I, LINE 1A THE PRESIDENT'S CONTRACT INCLUDES A CAR ALLOWANCE. THE ALLOWANCE IS PAID THROUGH PAYROLL AND SUBSEQUENTLY TAXED ACCORDINGLY. A WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 391337855 NONEAVAIL 2023-05-01 5077000 REFINANCE 0 0 0 A 5000000 5077000 77000 0 0 1 1 A 0 0 0 0 0 0 1 A 1 0 0 0 0 1 A 1 VJS CONSTRUCTION SERVICES INC A TRUSTEE OF THE UNIVERSITY 581397 A TRUSTEE IS A PRINCIPAL OF VJS CONSTRUCTION SERVICES, INC. MOUNT MARY CONTRACTED WITH VJS CONSTRUCTION SERVICES, INC. TO PROVIDE CONSTRUCTION MANAGEMENT SERVICES. 0 ROBERT W BAIRD & CO INC A TRUSTEE OF THE UNIVERSITY 90529 A TRUSTEE OF THE UNIVERSITY IS A PRINCIPAL AT ROBERT W. BAIRD & CO. INC. MOUNT MARY UNIVERSITY ENGAGES ROBERT BAIRD FOR INVESTMENT SERVICES OF THEIR INVESTMENT AND ENDOWMENT ACCOUNTS AND PAYS INVESTMENT FEES. 0 MICHAEL BEST & FRIEDRICH LLC A TRUSTEE OF THE UNIVERSITY 27385 A TRUSTEE OF THE UNIVERSITY IS A PRINCIPAL AT MICHAEL BEST. MOUNT MARY UNIVERSITY CONTINUALLY USES THEIR SERVICES FOR LEGAL MATTERS. 0 MARSH USA A TRUSTEE OF THE UNIVERSITY 457739 A TRUSTEE OF THE UNIVERSITY IS A PRINCIPAL AT MARSH USA. MOUNT MARY UNIVERSITY CONTINUALLY USES THEIR SERVICES FOR INSURANCE MATTERS BY WAY OF A WAICU CONSORTIUM. 0 X 3 84470 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 7B SCHOOL SISTERS OF NOTRE DAME (SSND) CORPORATE BOARD WHO MUST APPROVE CERTAIN THINGS UNDER "RESERVED POWERS". FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WAS PROVIDED TO THE ENTIRE BOARD, WHICH INCLUDES THE AUDIT AND RISK MANAGEMENT COMMITTEE, PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A FORM IS SIGNED ANNUALLY BY THE BOARD OF DIRECTORS. THIS FORM IS SENT TO THE PRESIDENT AND MONITORED BY THAT OFFICE. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE COMPARED TO WAICU SURVEYS. THE PRESIDENT'S SALARY GOES TO THE BOARD FOR APPROVAL FOR INCREASES. THE VICE PRESIDENTS' SALARY INCREASE APPROVALS GO TO THE PRESIDENT. THE CFO MONITORS THE PRESIDENT'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE OFFICES OF THE UNIVERSITY. FORM 990, PART XI, LINE 9: CHANGE IN VALUE/INTEREST RATE SWAP AGREEMENT 42,077. EXCESS WITHDRAWALS OVER INCOME EARNED FOR POOLED ENDOWMENT INVESTMENT -1,873,000. NET REALIZED LOSS ON BOND REFINANCING -84,248. FORM 990, PART XII, LINE 2C: THE UNIVERSITY HAS NOT CHANGED ITS OVERSIGHT PROCESS OR THE PROCESS USED TO SELECT AN INDEPENDENT ACCOUNTANT. SCHOOL SISTERS OF NOTRE DAME 13105 WATERTOWN PLANK ROAD ELM GROVE WI 53122 390806379 SPONSORING ORGANIZATION OF MOUNT MARY UNIVERSITY WI 501(C)(3) LINE 1 N/A 0 SSND MMU MCH VENTURE INC 9525 WEST BURLEIGH STREET MILWAUKEE WI 53222 844473861 C CORPORATION WI N/A C 0.33330 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0