Midway University
Legal name: Midway University Inc Fka Midway College
Nonprofit profile at a glance
- EIN
- 610444708
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Midway, KY, US
- Phone
- 859.846.5722
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community or Junior Colleges
Reported finances
- Revenue
- $41,488,226
- Expenses
- $37,998,296
- Assets
- $88,963,568
- Liabilities
- $27,328,315
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
36 people listed
Executive titles in this filing
- DR JOHN P MARSDEN (PRESIDENT)
- TIMOTHY CAMPBELL (VICE PRESIDENT)
- LEAH RICE (VICE PRESIDENT)
- JAMES TIMOTHY CULVER (VICE PRESIDENT)
- CARRIE CHRISTENSEN (ASSISTANT VICE PRESIDENT)
- HEATH MORGAN (VICE PRESIDENT)
Highest reported compensation
- DR JOHN P MARSDEN (PRESIDENT): $631,122 total reported compensation
- LEAH RICE (VICE PRESIDENT): $202,498 total reported compensation
- TIMOTHY CAMPBELL (VICE PRESIDENT): $190,220 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Midway University invests in our students, engaging them in personalized learning experiences and preparing them for fulfilling careers (Adopted May 2023).
What it reported doing in 2024
The university provides students with a number of opportunities to become involved in social, recreational, educational, and cultural activities. Annual events include night of lights, the last supper, midway christmas vespers, and graduation festivities. Chorale concerts and student productions add a cultural dimension to campus life. A number of student activities and organizations provide students with the opportunity to supplement academic learning, sharpen leadership skills, and actively participate in the process of planning and organizing programs.
Operating model
- Revenue model
- Earned-program. 84% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 83
- Accountability: 91
- Sustainability: 60
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81.1%; rating input score 81
- Program expense ratio: 86%; rating input score 86
- Fundraising efficiency: $11.12 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.4%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 2.34; rating input score 67; 67th percentile among comparable filings
- Liabilities to assets ratio: 0.31; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 6%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 8.1% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: 3.8% per year; rating input score 100; 28th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 2 operating locations identified
- Where the money goes: 81.1% of revenue deployed · 86% of spending went to programs
- Governance: 24 of 24 board members independent · 7 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $32.7M in reported program spending
- Leadership: top reported pay $631K · 36 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $6M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 10 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.