Nonprofit · EIN 42-0681046
MOUND FARM HOLDINGS INC
Also known as MOUNT MERCY UNIVERSITY
Tax-exempt · CEDAR RAPIDS, IA 52402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $52,570,960 | $165,350,480 | -$112,779,520 | $0 | $0 | $0 |
| June 30, 2024 | 990 | $53,059,982 | $56,181,364 | -$3,121,382 | $100,157,191 | $15,293,241 | $84,863,950 |
| June 30, 2023 | 990 (amended) | $54,383,606 | $57,406,187 | -$3,022,581 | $100,941,068 | $15,526,570 | $85,414,498 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,417,721
- of which government grants
- $171,603
- Program service revenue
- $49,126,374
- Investment income
- $1,030,260
- Net gain from sales of assets
- $125,754
- Net income from fundraising events
- -$3,395
- Other revenue
- -$3,395
Expenses
- Grants and similar amounts paid
- $134,919,489
- Compensation of officers, directors and key employees
- $581,026
- Other salaries and wages
- $13,429,599
- Salaries, compensation and benefits (total)
- $16,604,536
- Professional fundraising fees
- $92,680
- Legal fees
- $7,608
- Accounting fees
- $98,616
- Occupancy
- $1,385,620
- Travel
- $155,269
- Depreciation
- $2,622,555
- Program services (functional)
- $160,092,817
- Management and general (functional)
- $4,631,880
- Fundraising (functional)
- $625,783
Balance sheet and other
- Total assets, start of year
- $100,157,191
- Total assets, end of year
- $0
- Total liabilities, end of year
- $0
- Net assets, end of year
- $0
- Gross unrelated business income
- $167,281
- Gross receipts
- $71,779,842
- Employees
- 723
- Volunteers
- 250
- Year formed
- 1928
- State of legal domicile
- IA
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 | Other / benefits |
|---|---|---|---|---|
| TODD OLSON | PRESIDENT Officer | 40 | $258,030 | $68,588 |
| TOM CASTLE | PROVOST Officer | 40 | $134,586 | $36,569 |
| TOM DOERMANN | VP FOR OPERATIONS Highest-paid employee | 40 | $133,332 | $36,924 |
| JAY COLEMAN | VP ENROLLMENT & MARKETING Highest-paid employee | 40 | $135,084 | $33,354 |
| KIM BRO | DEAN COLLEGE OF NURSING (THRU 1/25) Highest-paid employee | 40 | $121,647 | $24,689 |
| BRITTNEY BURMAHL | VP FOR BUSINESS & FINANCE Officer | 40 | $113,215 | $28,215 |
| BRENDA HAEFNER | VP DEV & ALUMNI RELAT. (THRU 4/24) Officer | 40 | $107,722 | $22,237 |
| JENNIFER RASMUSSEN | PROFESSOR OF EDUCATION & DEPT CHAIR Highest-paid employee | 40 | $103,564 | $11,155 |
| RITU SHANDILYA | ASSOC. PROF. OF COMP. & DATA SCIENCE Highest-paid employee | 40 | $102,452 | $10,593 |
| CHARLES ROHDE | BOARD CHAIR & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| MICHELE BUSSE | BOARD CHAIR-ELECT & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| SISTER MARGARET WEIGEL | BOARD SECRETARY & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| BRANDT WORLEY | IMMEDIATE PAST CHAIR & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| BARBARA BARHAMAND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TERRI CHRISTOFFERSEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
20 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TAMI CULVER | TRUSTEE Trustee or director | 1 | $0 |
| DR MELANIE GIESLER-SPELLMAN | TRUSTEE Trustee or director | 1 | $0 |
| MAGDA GOLOBIC | TRUSTEE Trustee or director | 1 | $0 |
| SISTER DELORES HANNON | TRUSTEE Trustee or director | 1 | $0 |
| RONALD HEROLD | TRUSTEE Trustee or director | 1 | $0 |
| NANCY KASPAREK | TRUSTEE Trustee or director | 1 | $0 |
| ROBERT KAZIMOUR | TRUSTEE Trustee or director | 1 | $0 |
| DR RICHARD KETTELKAMP | TRUSTEE Trustee or director | 1 | $0 |
| BARBARA KNAPP | TRUSTEE Trustee or director | 1 | $0 |
| JASON MILLER | TRUSTEE Trustee or director | 1 | $0 |
| JAMES NIKRANT | TRUSTEE Trustee or director | 1 | $0 |
| SISTER SUSAN O'CONNOR | TRUSTEE Trustee or director | 1 | $0 |
| SISTER LAURA REICKS | TRUSTEE Trustee or director | 1 | $0 |
| DR VINCENT REID | TRUSTEE Trustee or director | 1 | $0 |
| LEANN RIDGEWAY | TRUSTEE Trustee or director | 1 | $0 |
| JOHN RINDERKNECHT | TRUSTEE Trustee or director | 1 | $0 |
| DYAN SMITH | TRUSTEE Trustee or director | 1 | $0 |
| KRISTEN TROVAS | TRUSTEE Trustee or director | 1 | $0 |
| MICHAEL WEHR | TRUSTEE Trustee or director | 1 | $0 |
| DR RUTH WHITE | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 36 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TODD OLSON | PRESIDENT Officer | 40 | $233,006 | $71,746 |
| ANNE GILLESPIE | VP FOR BUSINESS & FINANCE Officer | 40 | $170,743 | $52,190 |
| BRENDA HAEFNER | VP DEV & ALUMNI RELATIONS Key employee | 40 | $151,434 | $64,108 |
| TOM CASTLE | PROVOST Officer | 40 | $130,849 | $40,143 |
| JAY COLEMAN | VP ENROLLMENT & MARKETING Highest-paid employee | 40 | $121,111 | $35,331 |
| KIM BRO | DEAN COLLEGE OF NURSING Highest-paid employee | 40 | $118,175 | $25,932 |
| TOM DOERMANN | VP FOR OPERATIONS Highest-paid employee | 40 | $107,503 | $28,965 |
| JENNIFER RASMUSSEN | PROFESSOR OF EDUCATION & DEPT CHAIR Highest-paid employee | 40 | $107,672 | $12,442 |
| BRITTNEY BURMAHL | VP FOR BUSINESS & FINANCE Officer | 40 | $88,598 | $30,226 |
| CHARLES ROHDE | BOARD CHAIR & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| MICHELE BUSSE | BOARD CHAIR-ELECT & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| SISTER MARGARET WEIGEL | BOARD SECRETARY & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| BRANDT WORLEY | IMMEDIATE PAST CHAIR & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| BARBARA BARHAMAND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TERRI CHRISTOFFERSEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LOREN COPPOCK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TAMI CULVER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR MELANIE GIESLER-SPELLMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MAGDA GOLOBIC | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SISTER DELORES HANNON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RONALD HEROLD | TRUSTEE Trustee or director | 1 | $0 | $0 |
| NANCY KASPAREK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBERT KAZIMOUR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR RICHARD KETTELKAMP | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BARBARA KNAPP | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JASON MILLER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES NIKRANT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SISTER SUSAN O'CONNOR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SISTER LAURA REICKS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR VINCENT REID | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEANN RIDGEWAY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOHN RINDERKNECHT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DYAN SMITH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KRISTEN TROVAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MICHAEL WEHR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR RUTH WHITE | TRUSTEE Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 36 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TODD OLSON | PRESIDENT Officer | 40 | $278,967 | $57,435 |
| ANNE GILLESPIE | VP FOR BUSINESS AND FINANCE Officer | 40 | $170,546 | $49,085 |
| BRENDA HAEFNER | VP FOR DEV & ALUMNI RELATIONS Key employee | 40 | $151,625 | $61,080 |
| TIMOTHY LAURENT | PROVOST Officer | 40 | $154,003 | $47,451 |
| TOM CASTLE | AVP / VICE PROVOST Highest-paid employee | 40 | $111,775 | $39,222 |
| TODD COLEMAN | VP FOR ENROL. & STUDENT SUCCESS Highest-paid employee | 40 | $116,206 | $30,101 |
| KIM BRO | DEAN COLLEGE OF NURSING & HEALTH Highest-paid employee | 40 | $119,515 | $25,265 |
| NATE KLEIN | VP FOR STUDENT SUCCESS Highest-paid employee | 40 | $112,284 | $23,082 |
| TOM DOERMANN | AVP FOR HR & OPERATIONS Highest-paid employee | 40 | $104,323 | $25,745 |
| CHARLES ROHDE | BOARD CHAIR & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| MICHELE BUSSE | BOARD CHAIR-ELECT & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| SISTER MARGARET WEIGEL | BOARD SECRETARY & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| BRANDT WORLEY | IMMEDIATE PAST CHAIR & TRUSTEE Trustee or director, Officer | 1 | $0 | $0 |
| BARBARA BARHAMAND | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TERRI CHRISTOFFERSEN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LOREN COPPOCK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TAMI CULVER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR MELANIE GIESLER-SPELLMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MAGDA GOLOBIC | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SISTER DELORES HANNON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RONALD HEROLD | TRUSTEE Trustee or director | 1 | $0 | $0 |
| NANCY KASPAREK | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBERT KAZIMOUR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR RICHARD KETTELKAMP | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BARBARA KNAPP | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JASON MILLER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES NIKRANT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SISTER SUSAN O'CONNOR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SISTER LAURA REICKS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR VINCENT REID | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEANN RIDGEWAY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOHN RINDERKNECHT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DYAN SMITH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KRISTEN TROVAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MICHAEL WEHR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DR RUTH WHITE | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1330 ELMHURST DR NE, CEDAR RAPIDS, IA 52402-4763
- Principal officer (990 for 2024)
- TODD OLSON, 1330 ELMHURST DRIVE NE, CEDAR RAPIDS, IA 52402
- Signed the 990
- TODD OLSON, PRESIDENT
- Phone
- (319) 363-1323
- Website
- WWW.MTMERCY.EDU
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
CATHOLIC UNIVERSITY PROVIDING STUDENT FOCUSED BACCALAUREATE AND GRADUATE EDUCATION IN THE SPIRIT OF THE SISTERS OF MERCY. WELCOMES WOMEN AND MEN OF ALL BELIEFS TO JOIN THE COMMUNITY IN PURSUIT OF EDUCATION AND SERVICE TO THOSE IN NEED. PROMOTES REFLECTIVE JUDGMENT, STRATEGIC COMMUNICATION, THE COMMON GOOD AND PURPOSEFUL LIVING THROUGH A CORE CURRICULUM, LIBERAL ARTS AND PROFESSIONAL MAJORS AND STUDENT DEVELOPMENT PROGRAMS. STRIVE FOR EXCELLENCE IN ACCOMPLISHING OUR MISSION THROUGH FOUR INTERDEPENDENT GOALS: USING REFLECTIVE JUDGMENT, ENGAGING IN STRATEGIC COMMUNICATION, SERVING THE COMMON GOOD AND PROMOTING PURPOSEFUL LIVING.
Program accomplishments
- INSTRUCTION: PROVIDE GRADUATE AND UNDERGRADUATE HIGHER EDUCATION IN PROGRAMS INCLUDING TRADITIONAL DAYTIME FORMAT, NON TRADITIONAL EVENING FORMAT, ONLINE, AND ACCELERATED EVENING AND WEEKEND FORMAT. DEGREES GRANTED INCLUDE MFT, MSN, MBA, MSL, MSSCM, MA AND MS IN EDUCATION, DMFT, AND DNP (GRADUATE PROGRAMS) AND BA, BS, BAS, BSN AND BBA (UNDERGRADUATE PROGRAMS). FOR FALL OF 2024, THERE WERE 1,021 TRADITIONAL, 16 ACCELERATED, 164 GRADUATE, 100 ONLINE TRADITIONAL, AND 101 ONLINE GRADUATE STUDENTS. TOTAL UNDERGRADUATE FTE WAS 1,074; GRADUATE FTE WAS 231.Expenses $109,268,325 · grants $109,265,602 · revenue $43,148,544
- AUXILIARY SERVICES: PROVIDE RESIDENCE HALLS WITH CAPACITY OF 450 STUDENTS, MEALS (FOOD PLANS) FOR RESIDENTIAL AND NON-RESIDENTIAL STUDENTS AND BOOKSTORE FOR TEXTBOOK PURCHASES.Expenses $12,363,180 · revenue $5,977,830
- ACADEMIC SUPPORT: PROVIDE ACADEMIC RESOURCES TO ALL STUDENTS INCLUDING LIBRARY SERVICES, COMPUTER CENTER AND LABS, ACADEMIC ASSISTANCE AND CAMPUS MINISTRIES.Expenses $12,807,425
- STUDENT SERVICES: ATHLETICS, HEALTH SERVICES, ADMISSIONS AND FINANCIAL AID.Expenses $25,653,887 · grants $25,653,887
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
- 42-0681046
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Exempt since
- 1946
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B420)
- Group exemption
- 0928: UNITED STATES CATHOLIC CONFERENCE
- Income (IRS master file)
- $71,779,842
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $52,570,960 | $165,350,480 | $0 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $53,059,982 | $56,181,364 | $100,157,191 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $54,383,606 | $57,406,187 | $100,941,068 | IRS |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $59,414,847 | $57,525,174 | $103,926,298 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | 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 42-0681046).
Questions about MOUND FARM HOLDINGS INC
- What is the EIN of MOUND FARM HOLDINGS INC?
- The employer identification number (EIN) of MOUND FARM HOLDINGS INC is 42-0681046.
- Is MOUND FARM HOLDINGS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1946.
- Which annual return does MOUND FARM HOLDINGS INC 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 MOUND FARM HOLDINGS INC 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 MOUND FARM HOLDINGS INC 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 MOUND FARM HOLDINGS INC?
- The 990 for the year ended June 30, 2025 names TODD OLSON.
- Who are the officers and directors of MOUND FARM HOLDINGS INC?
- The 990 for the year ended June 30, 2025 lists 35 people; 9 received compensation from the organization, the highest $258,030 (TODD OLSON, PRESIDENT).
- How much revenue does MOUND FARM HOLDINGS INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $52,570,960, expenses of $165,350,480 and total assets of $0 at year end.
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