Sherman College Of Straight Chiropractic Inc
- Assets
- $45.1m
- Revenue
- $16.9m
- Investments
- $0.0
- Employees
- 260
- Location
- Spartanburg, SC
- Founding
- 03/1973
- Data as of
- 12/2021
- EIN
- 23-7242844
Organization Overview
Sherman College Of Straight Chiropractic Inc is located in Spartanburg, SC. The organization was established in 1973. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 12/2021, Sherman College Of Straight Chiropractic Inc employed 260 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sherman College Of Straight Chiropractic Inc 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 12/2021, Sherman College Of Straight Chiropractic Inc generated $16.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $15.3m during the year ending 12/2021. While expenses have increased by 7.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SHERMAN COLLEGE OF CHIROPRACTIC IS TO EDUCATE AND PREPARE STUDENTS TO BECOME DOCTORS OF CHIROPRACTIC FOCUSED ON THE ANALYSIS AND ADJUSTMENT OF VERTEBRAL SUBLUXATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES WERE PROVIDED TO APPROXIMATELY 516 FULL-TIME CHIROPRACTIC STUDENTS. EDUCATION SCHOLARSHIPS WERE AWARDED TO 419 STUDENTS. VISITS TO THE HEALTH CENTER TOTALED 27,912.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin Cordero Dc President | Officer | 37.5 | $404,004 |
Karen Canup MBA CPA Coo/cfo | Officer | 37.5 | $252,929 |
Neil Cohen Dc SVP For Presidential Affairs | Officer | 37.5 | $232,570 |
Robert Irwin Dc Provost | Officer | 37.5 | $210,926 |
Joe Donofrio Dc VP Academic Affairs | Officer | 37.5 | $142,323 |
Claudia Seay Dc Director Of Student Clinic, Professor | 37.5 | $110,871 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Management Resources Facilities Management | 12/30/21 | $432,013 |
Data Network Solutions Inc Technology | 12/30/21 | $105,081 |
American Security Of Greenville Security | 12/30/21 | $103,560 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $584,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $860,869 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,445,469 |
| Total Program Service Revenue | $14,507,570 |
| Investment income | $430,124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $565,454 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,948,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $543,076 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,546,631 |
| Compensation of current officers, directors, key employees. | $1,087,572 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,057,356 |
| Pension plan accruals and contributions | $282,702 |
| Other employee benefits | $1,040,615 |
| Payroll taxes | $605,938 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,990 |
| Fees for services: Accounting | $49,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $172,587 |
| Fees for services: Other | $1,030,326 |
| Advertising and promotion | $27,725 |
| Office expenses | $421,889 |
| Information technology | $150,529 |
| Royalties | $0 |
| Occupancy | $554,023 |
| Travel | $209,493 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $481,220 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,044,980 |
| Insurance | $18,500 |
| All other expenses | $190,009 |
| Total functional expenses | $15,291,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,086,718 |
| Savings and temporary cash investments | $1,343,015 |
| Pledges and grants receivable | $317,455 |
| Accounts receivable, net | $8,947 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $284,198 |
| Inventories for sale or use | $73,588 |
| Prepaid expenses and deferred charges | $68,806 |
| Net Land, buildings, and equipment | $20,689,252 |
| Investments—publicly traded securities | $18,221,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,078 |
| Total assets | $45,133,899 |
| Accounts payable and accrued expenses | $558,656 |
| Grants payable | $0 |
| Deferred revenue | $39,463 |
| 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 | $14,371,025 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $450,247 |
| Total liabilities | $15,419,391 |
| Net assets without donor restrictions | $26,687,403 |
| Net assets with donor restrictions | $3,027,105 |
| 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 | $45,133,899 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sherman College Of Straight Chiropractic Inc has recieved totaling $25,313.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $313 |
Endowment Analysis
| Beg. Balance | $1,592,947 |
| Earnings | $234,258 |
| Net Contributions | $35,453 |
| Other Expense | $219,836 |
| Ending Balance | $1,642,822 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Health Sciences Group Return Winstonsalem, NC | $294,523,544 | $56,430,791 |
Sherman College Of Straight Chiropractic Inc Spartanburg, SC | $45,133,899 | $16,948,617 |
Interdenominational Theological Center Inc Atlanta, GA | $16,432,791 | $10,752,474 |
Luther Rice University Inc Lithonia, GA | $7,749,300 | $4,580,851 |
Hood Theological Seminary Salisbury, NC | $17,605,409 | $4,185,310 |
Shepherds Theological Seminary Inc Cary, NC | $1,634,882 | $3,082,209 |
Watts College Of Nursing Inc Durham, NC | $19,579 | $1,750,259 |
Southern Evangelical Seminary Inc Charlotte, NC | $5,069,822 | $1,882,665 |
Greenville Presbyterian Theological Seminary Taylors, SC | $2,684,056 | $1,852,852 |
Heritage Bible College Savannah, GA | $1,470,682 | $1,484,140 |
Lake Norman Little League Inc Huntersville, NC | $143,066 | $408,180 |
Carolina Graduate University Inc Greensboro, NC | $243,690 | $138,153 |