Nonprofit · EIN 85-2907907
ALICE L WALTON SCHOOL OF MEDICINE
Tax-exempt · BENTONVILLE, AR 72712
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $19,476,991 | $22,975,434 | -$3,498,443 | $314,318,066 | $4,440,822 | $309,877,244 |
| June 30, 2024 | 990 | $272,971,712 | $22,151,638 | $250,820,074 | $291,058,375 | $1,529,632 | $289,528,743 |
| June 30, 2023 | 990 | $10,890,974 | $11,536,757 | -$645,783 | $3,481,306 | $989,878 | $2,491,428 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,500,000
- Program service revenue
- $76,400
- Investment income
- $15,900,591
- Net gain from sales of assets
- $9,282,361
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,138,893
- Other salaries and wages
- $8,449,941
- Salaries, compensation and benefits (total)
- $11,377,195
- Professional fundraising fees
- $0
- Legal fees
- $153,298
- Accounting fees
- $44,912
- Occupancy
- $385,018
- Travel
- $214,146
- Depreciation
- $254,572
- Program services (functional)
- $599,928
- Management and general (functional)
- $22,375,506
Balance sheet and other
- Total assets, start of year
- $291,058,375
- Total assets, end of year
- $314,318,066
- Total liabilities, end of year
- $4,440,822
- Net assets, end of year
- $309,877,244
- Land, buildings and equipment
- $5,416,164
- Publicly traded securities
- $284,873,268
- Net assets without donor restrictions
- $88,254,243
- Net assets with donor restrictions
- $221,623,001
- Gross receipts
- $102,714,386
- Employees
- 83
- Volunteers
- 11
- Year formed
- 2020
- State of legal domicile
- AR
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 |
|---|---|---|---|---|---|
| SHARMILA MAKHIJA MD | Dean, Chief Executive Officer Officer | 40 | $852,332 | $0 | $22,515 |
| WALTER HARRIS | INTERIM TREASURER (UNTIL 10/30/24) Officer | 0.5 | $0 | $770,125 | $22,239 |
| Colleen Grochowski | Senior Associate Dean, Academic Affairs Highest-paid employee | 40 | $374,729 | $0 | $22,563 |
| Angela Pierce | Assistant Dean, Embracing Whole Health Highest-paid employee | 40 | $303,868 | $0 | $14,488 |
| Sharon Bridges | General Counsel and Corporate Secretary Officer | 40 | $288,518 | $0 | $19,626 |
| Yerko Berrocal | Associate Dean, Curricular Affairs Highest-paid employee | 40 | $258,257 | $0 | $23,042 |
| Kevin Kunkler | Assistant Dean, Simulation, Innovation and Clinical Skills Highest-paid employee | 40 | $250,402 | $0 | $17,804 |
| AMY WENGER | VP FINANCE & ADMINISTRATION Highest-paid employee | 40 | $252,191 | $0 | $10,224 |
| ALICE L WALTON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CHERYL PEGUS MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| JAMES YOUNG MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| KATE HOBBS KNUTSON MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LLOYD MINOR MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MARC NIVET MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| PATRICK CONWAY MD | DIRECTOR (UNTIL 12/31/24) Trustee or director | 0.5 | $0 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SCOTT HAMBUCHEN | DIRECTOR (FROM 6/25/25) Trustee or director | 0.5 | $0 |
| TODD SIMMONS | DIRECTOR Trustee or director | 0.5 | $0 |
| VALERIE MONTGOMERY RICE MD | DIRECTOR Trustee or director | 0.5 | $0 |
| AUGUST MARTIN | TREASURER (FROM 10/30/24) Officer | 0.5 | $0 |
990 for the year ended June 30, 2024: 20 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Sharmila Makhija MD | Dean, Chief Executive Officer Officer | 40 | $627,621 | $0 | $17,293 |
| WALTER HARRIS | VP of Administration and Finance, Interim Treasurer (FROM 12/20/23) Officer | 0.5 | $0 | $402,054 | $16,566 |
| Ellisa Jones-Mckyer | Vice Dean for Faculty Affairs Highest-paid employee | 40 | $349,379 | $0 | $20,703 |
| Colleen Grochowski | Senior Associate Dean, Academic Affairs Highest-paid employee | 40 | $327,209 | $0 | $20,069 |
| James Rindfleisch | Associate Dean Highest-paid employee | 40 | $285,825 | $0 | $15,565 |
| Ken Hopper | Assistant Dean, Health Systems Science Highest-paid employee | 40 | $259,702 | $0 | $18,014 |
| Kevin Kunkler | Assistant Dean, Simulation, Innovation and Clinical Skills Highest-paid employee | 40 | $243,254 | $0 | $17,155 |
| SHARON BRIDGES | GENERAL COUNSEL, SECRETARY (From 12/01/23) Officer | 40 | $115,607 | $0 | $6,164 |
| ALICE L WALTON | PRESIDENT, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Cheryl Pegus MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| JAMES YOUNG MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| Katherine Hobbs Knutson MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LARS STEVEN NELSON | DIRECTOR (Until 01/25/2024) Trustee or director | 0.5 | $0 | $0 | $0 |
| LLOYD MINOR MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| Marc Nivet MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| PATRICK CONWAY MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| Todd Simmons | DIRECTOR (FROM 01/25/2024) Trustee or director | 0.5 | $0 | $0 | $0 |
| Valerie Montgomery Rice MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| PHILIP SIGSWORTH | CFO & TREASURER (UNTIL 12/14/23) Officer | 0.5 | $0 | $0 | $0 |
| RICHARD HOSLEY | SECRETARY (until 12/1/23) Officer | 0.5 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ELLY XENAKIS | EXECUTIVE VICE DEAN Highest-paid employee | 40 | $463,046 | $13,943 |
| JAMES RINDFLEISCH | ASSOCIATE DEAN Highest-paid employee | 40 | $398,877 | $20,000 |
| COLLEEN GROCHOWSKI | SENIOR ASSOCIATE DEAN, ACADEMIC AFFAIRS Highest-paid employee | 40 | $316,060 | $19,998 |
| ELLISA JONES-MCKYER | VICE DEAN FOR FACULTY AFFAIRS & DEI Highest-paid employee | 40 | $192,263 | $12,328 |
| YERKO BERROCAL | ASSISTANT DEAN, SCIENCE OF MEDICINE Highest-paid employee | 40 | $127,499 | $10,691 |
| ALICE L WALTON | DIRECTOR, PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| CHERYL PEGUS MD | DIRECTOR (FROM 7/7/22) Trustee or director | 0.5 | $0 | $0 |
| JAMES B YOUNG MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| KATHERINE H KNUTSON MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LARS S NELSON | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LLOYD MINOR MD | DIRECTOR (FROM 7/7/22) Trustee or director | 0.5 | $0 | $0 |
| MARC NIVET MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| PATRICK CONWAY MD | DIRECTOR (FROM 12/22/22) Trustee or director | 0.5 | $0 | $0 |
| VALERIE MONTGOMERY RICE MD | DIRECTOR (FROM 12/22/22) Trustee or director | 0.5 | $0 | $0 |
| ERIC HASKEL | SECRETARY/TREASURER (UNTIL 12/9/22) Officer | 0.5 | $0 | $0 |
| PHILIP SIGSWORTH | CFO & TREASURER (FROM 12/19/22) Officer | 0.5 | $0 | $0 |
| RICHARD HOSLEY | SECRETARY (FROM 12/19/22) Officer | 0.5 | $0 | $0 |
| SHARMILA MAKHIJA MD | DEAN & CEO (FROM 5/5/23) Officer | 40 | $0 | $0 |
| WALTER HARRIS | CHIEF OPERATING OFFICER Officer | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 600 MUSEUM WAY, BENTONVILLE, AR 72712-4947
- Principal officer (990 for 2024)
- SHARMILA MAKHIJA, 1001 NE J Street, Bentonville, AR 72712
- Signed the 990
- SHARMILA MAKHIJA, CHIEF EXECUTIVE OFFICER
- Phone
- (479) 464-1570
- Website
- www.ALWMEDSCHOOL.ORG
- Return prepared by
- WALTON ENTERPRISES LLC
Mission
See Part 1, Line 1 for a description of AWSOM's mission.
Program accomplishments
- Medical school in Northwest Arkansas that seeks to reimagine medical education in America by creating a pipeline of medical professionals trained in conventional medicine and Whole Health.Expenses $599,928 · revenue $76,400
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
- 85-2907907
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $314,318,066
- Income (IRS master file)
- $102,714,386
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $19,476,991 | $22,975,434 | $314,318,066 | IRS |
| 990 | June 2024 | $272,971,712 | $22,151,638 | $291,058,375 | IRS |
| 990 | June 2023 | $10,890,974 | $11,536,757 | $3,481,306 | XML |
| 990 | June 2022 | $8,252,593 | $5,214,683 | $3,764,364 | IRS |
| 990 | June 2021 | – | – | – | 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 85-2907907).
Questions about ALICE L WALTON SCHOOL OF MEDICINE
- What is the EIN of ALICE L WALTON SCHOOL OF MEDICINE?
- The employer identification number (EIN) of ALICE L WALTON SCHOOL OF MEDICINE is 85-2907907.
- Is ALICE L WALTON SCHOOL OF MEDICINE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to ALICE L WALTON SCHOOL OF MEDICINE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ALICE L WALTON SCHOOL OF MEDICINE 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 ALICE L WALTON SCHOOL OF MEDICINE 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 ALICE L WALTON SCHOOL OF MEDICINE 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 ALICE L WALTON SCHOOL OF MEDICINE?
- The 990 for the year ended June 30, 2025 names SHARMILA MAKHIJA.
- Who are the officers and directors of ALICE L WALTON SCHOOL OF MEDICINE?
- The 990 for the year ended June 30, 2025 lists 19 people; 7 received compensation from the organization, the highest $852,332 (SHARMILA MAKHIJA MD, Dean, Chief Executive Officer).
- How much revenue does ALICE L WALTON SCHOOL OF MEDICINE have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $19,476,991, expenses of $22,975,434 and total assets of $314,318,066 at year end.
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