Nonprofit · EIN 36-3955804
MIDWESTERN UNIVERSITY FOUNDATION
Tax-exempt · DOWNERS GROVE, IL 60515
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $4,300,740 | $2,479,565 | $1,821,175 | $108,682,666 | $95,551,940 | $13,130,726 |
| June 30, 2024 | 990 | $4,343,768 | $2,665,189 | $1,678,579 | $87,445,508 | $77,301,627 | $10,143,881 |
| June 30, 2023 | 990 | $3,845,183 | $3,114,899 | $730,284 | $88,680,176 | $80,360,212 | $8,319,964 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,980,769
- Investment income
- $319,971
- Tax-exempt bond proceeds
- $180,699
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $27,905
- Salaries, compensation and benefits (total)
- $27,905
- Professional fundraising fees
- $0
- Accounting fees
- $25,000
- Program services (functional)
- $2,185,990
- Management and general (functional)
- $293,575
Balance sheet and other
- Total assets, start of year
- $87,445,508
- Total assets, end of year
- $108,682,666
- Total liabilities, end of year
- $95,551,940
- Net assets, end of year
- $13,130,726
- Net assets without donor restrictions
- $13,130,726
- Gross receipts
- $4,300,740
- Employees
- 0
- Volunteers
- 11
- Year formed
- 1994
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KATHLEEN H GOEPPINGER PHD | PRESIDENT, CEO, DIRECTOR, RETIRED MAY 19, 2025 Trustee or director, Officer | 1 | $0 | $1,914,851 | $53,331 |
| Joshua C Baker MS | SVP & CHIEF ACADEMIC OFFICER / INTERIM PRESIDENT, CEO, & DIRECTOR (BEG MAY 2025) Trustee or director, Officer | 1 | $0 | $897,889 | $69,092 |
| MATTHEW J SWEENEY CPA | ASSISTANT TREASURER, CFO, VICE PRESIDENT Officer | 1 | $0 | $736,850 | $69,466 |
| GREGORY L O'COYNE CPA | VICE PRESIDENT, FINANCE Officer | 1 | $0 | $487,762 | $68,314 |
| JEAN L BAXTER JD | VICE CHAIRPERSON/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNETH R HERLIN MA MBA CPA | Secretary, Treasurer, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KEVIN D LEAHY FACHE | CHAIRPERSON, DIRECTOR resigned 5/19/2025 Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Gregory J Gaus | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JANET R Bolton | Director Trustee or director | 1 | $0 | $0 | $0 |
| Kathryn Pong | Director Trustee or director | 1 | $0 | $0 | $0 |
| MADELINE R LEWIS DO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL M BOND DO | Director Trustee or director | 1 | $0 | $0 | $0 |
| NICHOLAS C ZAGOTTA JD | Director Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS EGGLESTON | DIRECTOR deceased 3/8/2025 Trustee or director | 1 | $0 | $0 | $0 |
| WARREN B GRAYSON JD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KATHLEEN H GOEPPINGER PHD | PRESIDENT, CEO, DIRECTOR Trustee or director, Officer | 1 | $0 | $1,826,086 | $52,562 |
| MATTHEW J SWEENEY CPA | ASSISTANT TREASURER, CFO, VICE PRESIDENT Officer | 1 | $0 | $708,646 | $63,244 |
| GREGORY L O'COYNE CPA | VICE PRESIDENT, FINANCE Officer | 1 | $0 | $464,769 | $62,346 |
| JEAN L BAXTER JD | VICE CHAIRPERSON/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNETH R HERLIN MA MBA CPA | Secretary, Treasurer, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KEVIN D LEAHY FACHE | CHAIRPERSON, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Gregory J Gaus | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MADELINE R LEWIS DO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS EGGLESTON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| WARREN B GRAYSON JD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 11 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KATHLEEN H GOEPPINGER PHD | PRESIDENT/CEO/DIRECTOR Trustee or director, Officer | 1 | $0 | $2,994,092 | $49,892 |
| MATTHEW J SWEENEY | ASSISTANT TREASURER/CFO/VP Officer | 1 | $0 | $560,154 | $59,606 |
| DEAN P MALONE | VP, SPECIAL ASSISTANT FOR FINANCE, LAST DAY OF WORK 7/1/2022 Officer | 1 | $0 | $566,438 | $46,690 |
| GREGORY L O'COYNE | VP FINANCE Officer | 1 | $0 | $428,688 | $54,030 |
| JEAN L BAXTER JD | VICE CHAIRPERSON/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KENNETH R HERLIN CPA | Secretary/Treasurer/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KEVIN D LEAHY | CHAIRPERSON/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Gregory J Gaus | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MADELINE R LEWIS DO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS EGGLESTON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| WARREN B GRAYSON JD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 555 31ST ST, DOWNERS GROVE, IL 60515-1235
- In care of
- % DEAN MALONE
- Principal officer (990 for 2024)
- JOSHUA C BAKER MS OD, 555 31st Street, Downers Grove, IL 60515
- Signed the 990
- JOSHUA C BAKER, PRESIDENT AND CEO
- Phone
- (630) 515-7145
- Return prepared by
- CROWE LLP
Mission
TO BENEFIT MIDWESTERN UNIVERSITY BY PROVIDING FUNDING FOR PRIVATE LOANS TO STUDENTS OF THE UNIVERSITY.
Program accomplishments
- Midwestern University Foundation provided funding for federally guaranteed loans for students of the University under the Federal Family Education Loan (FFEL) Program. This program ended in 2010. In 2014, the Foundation created a new private loan program called the Midwestern University Private Loan Program (MPL Program) funded through the combination of equity and tax-exempt debt. The MPL program functions like the FFEL Program loans in some respects and like other private loan programs in other respects. Unlike loans made under the FFEL Program, loans made under the MPL Program are made by the Foundation directly to students and are not guaranteed by the federal government. Since the inception of the MPL Program, there have been loans awarded in the amount of $132,800,000 as of June 30, 2025. Foundation Bonds issued to fund the MPL Program are limited obligations of the Foundation, secured by and payable solely and exclusively from the student loans and related revenues and other assets comprising the trust estates created by the Trust Indentures pursuant to which those Foundation Bonds have been issued. The trust indentures for the Foundation Bonds contain numerous restrictions and requirements applicable to the MPL Program and the assets comprising the trust estates.Expenses $2,185,990 · revenue $4,025,657
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3955804
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1994
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $108,682,666
- Income (IRS master file)
- $4,300,740
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $4,300,740 | $2,479,565 | $108,682,666 | IRS |
| 990 | June 2024 | $4,343,768 | $2,665,189 | $87,445,508 | IRS |
| 990 | June 2023 | $3,845,183 | $3,114,899 | $88,680,176 | XML |
| 990 | June 2022 | $2,272,539 | $3,131,353 | $93,580,538 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-3955804).
Questions about MIDWESTERN UNIVERSITY FOUNDATION
- What is the EIN of MIDWESTERN UNIVERSITY FOUNDATION?
- The employer identification number (EIN) of MIDWESTERN UNIVERSITY FOUNDATION is 36-3955804.
- Is MIDWESTERN UNIVERSITY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to MIDWESTERN UNIVERSITY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does MIDWESTERN UNIVERSITY FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MIDWESTERN UNIVERSITY FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MIDWESTERN UNIVERSITY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MIDWESTERN UNIVERSITY FOUNDATION?
- The 990 for the year ended June 30, 2025 names JOSHUA C BAKER MS OD.
- Who are the officers and directors of MIDWESTERN UNIVERSITY FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 15 people; 0 received compensation from the organization.
- How much revenue does MIDWESTERN UNIVERSITY FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $4,300,740, expenses of $2,479,565 and total assets of $108,682,666 at year end.
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