Heritage Christian University
- Assets
- $29.3m
- Revenue
- $10.6m
- Investments
- $14.8k
- Employees
- 52
- Location
- Florence, AL
- Founding
- 09/1972
- Data as of
- 06/2024
- EIN
- 23-7013287
Organization Overview
Heritage Christian University is located in Florence, AL. The organization was established in 1972. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2024, Heritage Christian University employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Christian University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Heritage Christian University generated $10.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $4.5m during the year ending 06/2024. While expenses have increased by 4.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
HERITAGE CHRISTIAN UNIVERSITY EQUIPS SERVANTS THROUGH UNDERGRADUATE AND GRADUATE AND CONTINUING EDUCATION. HCU PRODUCES EFFECTIVE COMMUNICATORS, PREACHERS, TEACHERS AND MISSIONARIES FOR REAL WORLD MINISTRY WITH A FOCUS ON EVANGELISM AND A COMMITMENT TO SCRIPTURE. HCU IS AWARE OF THE BURDEN DEBT PLACES ON ITS STUDENTS SO HCU MAKES EVERY EFFORT TO GRADUATE STUDENTS DEBT FREE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
061100 UNDERGRADUATE & GRADUATE PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Kirk Brothers President | Officer | 40 | $90,067 |
Nathan Daily V.P. Of Academics | Officer | 40 | $55,000 |
Travis Harmon V.P. Of Student Services | Officer | 40 | $73,537 |
Jt Harrison V.P. Of Advancement | Officer | 40 | $27,972 |
Wayne Barrier Trustee | Trustee | 0 | $0 |
Dale Jenkins Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,989,084 |
| Noncash contributions included in lines 1a–1f | $108,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,989,084 |
| Total Program Service Revenue | $1,121,209 |
| Investment income | $1,928,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $559,549 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,598,724 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $185,507 |
| Compensation of current officers, directors, key employees. | $92,753 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,730,697 |
| Pension plan accruals and contributions | $48,791 |
| Other employee benefits | $255,215 |
| Payroll taxes | $70,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $985 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,967 |
| Advertising and promotion | $34,270 |
| Office expenses | $467,128 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $340,987 |
| Travel | $171,023 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,872 |
| Interest | $47 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $281,846 |
| Insurance | $73,179 |
| All other expenses | $24,940 |
| Total functional expenses | $4,458,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,511 |
| Savings and temporary cash investments | $6,169,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,289 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,300 |
| Prepaid expenses and deferred charges | $205,615 |
| Net Land, buildings, and equipment | $3,030,725 |
| Investments—publicly traded securities | $19,802,220 |
| Investments—other securities | $14,774 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,273,730 |
| Accounts payable and accrued expenses | $33,808 |
| Grants payable | $0 |
| Deferred revenue | $276,591 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $966,875 |
| Total liabilities | $1,277,274 |
| Net assets without donor restrictions | $6,393,630 |
| Net assets with donor restrictions | $21,602,826 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $29,273,730 |