Concordia University - Seward, NE

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 10/26/2020. To update the information in this column, please email: info@ministrywatch.com


Summary

Concordia University, Nebraska is an excellent academic and Christ-centered community equipping men and women for lives of learning, service and leadership in the church and world. We use our Lutheran tradition to help students strengthen their own Christian identity and gain the practical experience they need to successfully learn, serve and lead in the church and world. Our campus is located in Seward, which has a population of 7,200 and is located 25 minutes west of Lincoln.


Contact information

Mailing address:
Concordia University
800 N. Columbia Ave.
Seward, NE 68434

Website: cune.edu

Phone: 800-535-5494

Email: info@cune.edu


Organization details

EIN: 470378777

CEO/President: Russell Sommerfeld

Chairman:

Board size: 18

Founder:

Year founded: 1941

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

To keep up with our growing university, we update our vision statement every five years. The current vision theme is EXCEL 2025. Concordia University will EXCEL by delivering a distinctive Lutheran education that increasingly engages and influences the world.


Mission statement

Concordia University, Nebraska is an excellent academic and Christ-centered community equipping men and women for lives of learning, service and leadership in the church and world.


Statement of faith

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating219 of 91116 of 111
Fund acquisition rating150 of 91316 of 111
Resource allocation rating237 of 91316 of 111
Asset utilization rating576 of 91179 of 111

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
15%9%19%7%15%29%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%2%3%2%3%3%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%24%14%29%19%10%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%2%3%3%3%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%76%86%71%81%90%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%90%86%86%86%86%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%85%95%80%92%100%
Program output ratio Program output ratio =
Program services /
Total revenue
81%77%82%69%78%86%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%15%5%20%8%0%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%10%3%16%7%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%7%11%11%11%11%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.510.400.450.480.530.57
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.732.612.802.252.763.21
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.621.031.261.081.471.82
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.085.944.9613.609.174.97
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.170.200.070.110.20
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.959.677.5810.327.285.27
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%28%25%24%31%33%
Debt ratio Debt ratio =
Debt /
Total assets
16%19%14%16%19%19%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
139%181%166%158%130%119%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$4,175,294$1,090,204$7,091,496$2,305,677$1,005,338
Receivables, inventories, prepaids$23,404,968$12,576,882$16,960,023$8,383,337$3,748,763
Short-term investments$31,590,439$34,467,499$33,092,658$30,909,087$27,665,123
Other current assets$0$0$0$0$0
Total current assets$59,170,701$48,134,585$57,144,177$41,598,101$32,419,224
Long-term investments$4,663,377$3,529,015$3,541,007$5,529,121$5,236,079
Fixed assets$84,346,634$76,550,384$61,110,373$61,120,304$60,145,780
Other long-term assets$6,109,606$6,779,336$6,626,509$6,474,320$6,298,700
Total long-term assets$95,119,617$86,858,735$71,277,889$73,123,745$71,680,559
Total assets$154,290,318$134,993,320$128,422,066$114,721,846$104,099,783
 
Liabilities20202019201820172016
Payables and accrued expenses$2,748,242$7,595,148$2,566,239$2,484,613$4,273,428
Other current liabilities$7,211,496$2,106,972$1,636,139$2,049,882$2,247,303
Total current liabilities$9,959,738$9,702,120$4,202,378$4,534,495$6,520,731
Debt$29,673,391$18,753,886$20,401,395$21,993,748$20,260,712
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$4,194,590$5,339,335$6,738,943$8,646,906$7,284,369
Total long-term liabilities$33,867,981$24,093,221$27,140,338$30,640,654$27,545,081
Total liabilities$43,827,719$33,795,341$31,342,716$35,175,149$34,065,812
 
Net assets20202019201820172016
Without donor restrictions$53,926,618$32,988,782$32,958,257$32,299,778$31,427,451
With donor restrictions$56,535,981$68,209,197$64,121,093$47,246,919$38,606,520
Net assets$110,462,599$101,197,979$97,079,350$79,546,697$70,033,971
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$17,420,676$8,855,135$22,265,477$12,499,364$5,880,351
Program service revenue$54,096,080$54,424,109$54,207,719$53,906,959$52,881,854
Membership dues$0$0$0$0$0
Investment income$397,873$502,107$799,869$384,740$351,095
Other revenue($37,711)$18,965$17,706$620($9,556)
Total other revenue$54,456,242$54,945,181$55,025,294$54,292,319$53,223,393
Total revenue$71,876,918$63,800,316$77,290,771$66,791,683$59,103,744
 
Expenses20202019201820172016
Program services$55,234,558$52,454,358$53,195,437$52,348,066$50,840,317
Management and general$4,326,985$6,727,123$6,752,736$6,948,178$6,423,000
Fundraising$1,495,747$1,695,849$1,634,669$1,838,471$1,722,087
Total expenses$61,057,290$60,877,330$61,582,842$61,134,715$58,985,404
 
Change in net assets20202019201820172016
Surplus (deficit)$10,819,628$2,922,986$15,707,929$5,656,968$118,340
Other changes in net assets$0$0$0$0$0
Total change in net assets$10,819,628$2,922,986$15,707,929$5,656,968$118,340

Compensation

NameTitleCompensation
Brian Friedrich Left 123119President$447,657
Tim PreussProvost$270,823
David KummExec Vp, Cfo, COO$229,566
Kurth BrashearVP Inst Adv/General Counse$174,080
Scott SeeversVP For Enrollment, Student$155,300
D Gene BrooksVP Student Affairs & Athle$151,814
Russell SommerfeldInterim President$102,401
Erik VieselmeyerRegent$8,764
James David WoelmerRegent$2,615
Ryan BurgerRegent - Secretary$2,025

Compensation data as of: 6/30/2020


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 10/26/2020. To update the information below, please email: info@ministrywatch.com


History

Concordia University, Nebraska has been equipping students for service in God's church and world since the doors opened on Nov. 18, 1894 with one professor, 13 male students and a three-year high school curriculum. More than 125 years later, Concordia has grown into a fully accredited, coeducational university offering more than 100 programs and has granted degrees to tens of thousands of students.

We officially became Concordia University, Nebraska in 1998. In the 104 years prior, we were known by a multitude of different official and non-official names.

From 1974-1998, we were Concordia College.

From 1924-1974, we were Concordia Teachers College, initials that can still be found around campus, and the Concordia Teachers College name is inscribed in the front of Weller Hall.

The cornerstone on Founders Hall bears the initials E.L.S.L.S., short for Evangelische Lutherische Schullehrer Seminar, apparently the first name given to Concordia in 1894 by our German-speaking founders. Translated into English, the name was Evangelical Lutheran School Teachers Seminary. However, the school's early leaders didn't worry much about settling on a consistent name.

Dr. Jerry Pfabe, emeritus history professor and the university's archivist, has found references to a dozen official and unofficial names. Several of those names cropped up in the first few decades: Zweites Schullehrer Seminar zu Seward, Nebraska (The second school teachers' seminary): The school's only purpose in the early years was to train teachers for Lutheran Church-Missouri Synod (LCMS) parochial schools. The LCMS started its first teachers' seminary in Indiana and later moved it to Illinois.

Seward College: This was an unofficial name that appeared on baseball uniforms. No one knows for sure when Concordians first started playing organized sports, but they were believed to have adopted the Bulldog mascot in honor of Coach Walter Hellwege's pet bulldog, who accompanied him to games in the 1920s.

German College: This was an unofficial-sometimes derogatory-name used by Seward County residents to describe the college.

Lutheran Normal School: "Normal school" training was the term for teacher education programs in the early part of the century. Concordia began offering bachelor's degrees in 1939, but in many states teachers were not required to have bachelor's degrees for several more years.

Look long enough and you may still find the initials CTC stamped on objects around campus. Concordia Teachers College was the school's official name for more than 50 years. The "Teachers" was gradually dropped from recruitment materials as the curriculum expanded to include DCE and pre-seminary programs, followed by a host of liberal arts majors in the 1970s and 1980s. We were officially known as Concordia College from 1974-1998.

Although Concordia still operates as part of the LCMS, we recruit students from many Christian denominations.


Program accomplishments


Needs