University of Detroit Mercy

Analysis

University of Detroit Mercy is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in February 1992, 34 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Detroit Mercy reported income of $176.1m and spending of $171.5m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $177.0m to $176.1m (-0.5%), an average of -0.1% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Detroit Mercy sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MI. Charities of a similar size with the same main cause include University of Washington Foundation ($176.0m), West Virginia University Research Corporation ($176.8m) and Marian University ($175.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $4.6m (2.7% of expenses). Other salaries and wages came to $78.5m. It paid $28k in professional fundraising fees. At year end it held assets of $296.7m against liabilities of $91.0m, net assets of $205.7m. It reported 2,242 employees.