Mound Farm Holdings

Also known as Mount Mercy University

Cedar Rapids, IA · EIN 42-0681046 · 501(c)(3) · School
Latest filing: Form 990 for the fiscal year ending June 30, 2025 (tax year 2024) · View the filing · Correct or respond

Mound Farm Holdings reported $52.6 million in revenue and $165.4 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $96.82 went to program services, $2.80 to management and general costs and $0.38 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 93.4% of the total. The highest compensation it reported for one person was $326,618 (PRESIDENT). 10 people received more than $100,000 in reportable compensation. Revenue fell 1% between FY2020 and FY2025. Source: Form 990, FY2025.

Where $100 of spending went

The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $165M

Program services$96.82 $160M
Management & general$2.80 $4.6M
Fundraising$0.38 $626K

For context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).

Where $100 of revenue came from

The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $53M

Contributions & grants (non-government)$4.27 $2.2M
Government grants$0.33 $172K
Program service revenue$93.44 $49M
Investment income$1.96 $1.0M

Other revenue was negative: −$3,395. The bar shows the positive sources only.

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 5,499 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	96.8%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	2.8%	13.4%
Fundraising Part IX 25(D) ÷ 25(A)	0.4%	0.8%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.26	$0.04
Contributions & grants share of revenue Part VIII 1h ÷ 12	4.6%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	0.3%	1.1%
Program service revenue share Part VIII 2g ÷ 12	93.4%	69.9%
Highest reported compensation Part VII-A, columns D–F	$326,618	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	0.20%	1.28%
People paid over $100,000 Part VII, line 2	10	8
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	0.0	13.3
Independent voting board members Part VI 1a–1b	26 of 26	100.0%

A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.

What the money paid for, in its own words

FY2025 · Form 990, Part III · the three largest programs by expense

$109M expenses · 68.3% of program spending · grants $109M · revenue $43M

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

$12M expenses · 7.7% of program spending · revenue $6.0M

Auxiliary services: provide residence halls with capacity of 450 students, meals (food plans) for residential and non-residential students and bookstore for textbook purchases

$13M expenses · 8.0% of program spending

Academic support: provide academic resources to all students including library services, computer center and labs, academic assistance and campus ministries

$26M all other programs (line 4d)

Highest reported compensation

FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here

Role	From this org	From related orgs	Other	Total
PRESIDENT Officer, 40.00 hrs/week	$258,030	$0	$68,588	$326,618
PROVOST Officer, 40.00 hrs/week	$134,586	$0	$36,569	$171,155
VP FOR OPERATIONS Highest compensated employee, 40.00 hrs/week	$133,332	$0	$36,924	$170,256
VP ENROLLMENT & MARKETING Highest compensated employee, 40.00 hrs/week	$135,084	$0	$33,354	$168,438
DEAN COLLEGE OF NURSING (THRU 1/25) Highest compensated employee, 40.00 hrs/week	$121,647	$0	$24,689	$146,336
VP FOR BUSINESS & FINANCE Officer, 40.00 hrs/week	$113,215	$0	$28,215	$141,430
VP DEV & ALUMNI RELAT. (THRU 4/24) Officer, 40.00 hrs/week	$107,722	$0	$22,237	$129,959
PROFESSOR OF EDUCATION & DEPT CHAIR Highest compensated employee, 40.00 hrs/week	$103,564	$0	$11,155	$114,719

10 people received more than $100,000 in reportable compensation from Mound Farm Holdings (Part VII, line 2). Compensation of current officers, directors and key employees totaled $581K (Part IX, line 5).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$53M	$165M	96.8%	$0	$326,618
FY2024 ⓘ	$53M	$56M	90.6%	$85M	$304,752
FY2023 (amended) ⓘ	$54M	$57M	89.5%	$85M	$336,402
FY2022 ⓘ	$59M	$58M	83.4%	$86M	$253,272
FY2021 ⓘ	$60M	$53M	82.4%	$88M	$330,794
FY2020 ⓘ	$53M	$51M	84.8%	$74M	$350,043

Governance answers, as filed

FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means

Voting board members, and how many are independent Part VI, lines 1a–1b26 · 26 independent
Audited financial statements Part XII 2bYes
Conflict-of-interest policy Part VI 12aYes
Whistleblower policy Part VI 13Yes
Document retention policy Part VI 14Yes
Independent process for top executive pay Part VI 15aYes
Board given the 990 before filing Part VI 11aYes
Family or business ties among insiders Part VI 2Yes
Aware of a significant diversion of assets Part VI 5No
Excess benefit transaction with an insider Part IV 25aNo
Loans to or from insiders outstanding Part IV 26No
Lobbying, or a 501(h) election in effect Part IV 4No
Over $15,000 of professional fundraising services Part IV 18Yes
Over $10,000 of activity outside the U.S. Part IV 14bYes
Employees Part I, line 5723
Volunteers Part I, line 6250

Largest outside contractors

FY2025 · Form 990, Part VII, Section B · businesses only

ARAMARK CORPORATION Food service	$2,078,888
EAB GLOBAL Student recruitment & marketing services	$814,006
RINDERKNECHT ASSOCIATES Construction	$398,222
KONE Elevator maintenance	$272,082
BRECKE MECHANICAL CONTRACTORS Mechanical contracting	$243,781

Individuals listed as contractors are left out. 10 contractors were paid more than $100,000 in all.

Private foundation grants it received

24 private foundations reported grants to Mound Farm Holdings totaling $354K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.

Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.

Correct a figure or respond

Every number above is copied from Mound Farm Holdings's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Mound Farm Holdings, you can publish a response that is linked from this page.

Report a correction Respond as Mound Farm Holdings How this works

Similar-sized charities in this cause

Americans for Oxford
New York, NY · revenue $53M · programs 99.6% · 2024
Arkansas Colleges of Health Education
Fort Smith, AR · revenue $53M · programs 61.0% · FY2025
Brooklyn Academy of Music
Brooklyn, NY · revenue $53M · programs 75.8% · FY2025
The Maryland School for the Blind
Baltimore, MD · revenue $53M · programs 87.4% · FY2025
Lyon College
Batesville, AR · revenue $52M · programs 80.4% · FY2025

All education charities · Largest charities in Iowa

Questions people ask

How much of Mound Farm Holdings's spending goes to programs?

In the fiscal year ending June 30, 2025, Mound Farm Holdings reported that 96.8% of its $165.4 million in expenses went to program services, 2.8% to management and general and 0.4% to fundraising (Form 990, Part IX).

How much does Mound Farm Holdings pay its top executive?

The largest total compensation Mound Farm Holdings reported for one person in the fiscal year ending June 30, 2025 was $326,618, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Mound Farm Holdings get its money?

Of $52.6 million in revenue in the fiscal year ending June 30, 2025, 4.6% came from contributions and grants (including 0.3% from government grants) and 93.4% from program service revenue (Form 990, Part VIII).

Is Mound Farm Holdings a registered charity?

The IRS lists EIN 42-0681046 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.

Sources

FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202621199349301922 · read the filing · XML
FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202520229349300912 · read the filing
FY2023: Form 990 for the fiscal year ending June 30, 2023 (amended), object 202511389349300706 · read the filing
FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202340529349300334 · read the filing
FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231339349309828 · read the filing
FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202140479349301719 · read the filing

All filings for EIN 42-0681046: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.