Morningside University

Analysis

Morningside University is a registered charity in United States, based in Sioux City, IA. It received its IRS tax-exemption ruling in June 1950, 76 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 May 2023, Morningside University reported income of $63.4m and spending of $64.4m, spending 102% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $59.7m to $63.4m (+6.2%), an average of +1.5% a year. The sharpest change came in the year to May 2021, when income rose by 18%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Morningside University sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IA. Charities of a similar size with the same main cause include Pennsylvania Leadership Charter Schools ($63.4m), University of Vermont and State Agricultural College Foundation ($63.4m) and Chapin School Ltd ($63.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 7.0% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $895k (1.4% of expenses). Other salaries and wages came to $17.2m. At year end it held assets of $130.0m against liabilities of $30.1m, net assets of $99.9m. It reported 1,117 employees.