Spring Arbor University
- Assets
- $117.7m
- Revenue
- $70.9m
- Investments
- $205.4k
- Employees
- 1,151
- Location
- Spring Arbor, MI
- Founding
- 05/1972
- Data as of
- 05/2021
- EIN
- 38-1359569
Organization Overview
Spring Arbor University is located in Spring Arbor, MI. The organization was established in 1972. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Spring Arbor University employed 1,151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spring Arbor 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 05/2021, Spring Arbor University generated $70.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $61.5m during the year ending 05/2021. 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
SPRING ARBOR UNIVERSITY PROVIDES POST-SECONDARY EDUCATION TO OVER 2,390 STUDENTS, GRANTING BA, BS, MA AND MS DEGREES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPRING ARBOR UNIVERSITY IS A CHRISTIAN INSTITUTION SERVING OVER 2,390 STUDENTS. ALL PROGRAM SERVICE EXPENSES ARE RELATED TO INSTRUCTION, ACADEMIC SUPPORT, STUDENT AND AUXILIARY SERVICES FOR THOSE STUDENTS WHO STUDY AT OUR MAIN CAMPUS, THROUGH OUR ONLINE EDUCATION OR AT ONE OF OUR SITES AROUND THE STATE OF MICHIGAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Ellis President | Officer | 50 | $314,893 |
Carol Green Provost/cao | 50 | $139,396 | |
Doug Wilcoxson Executive Vice President | 50 | $130,205 | |
Dawn Schnitkey VP Of Finance & Administration | Officer | 50 | $125,113 |
Randall Melton Chief Information Officer | 50 | $119,726 | |
Jonathon Bahr VP For Enrollment Management | 50 | $105,576 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keypath Education Llc College/student Svcs | 5/30/23 | $4,153,065 |
Chartwells Dining Svcs Food Svc Provider | 5/30/23 | $2,837,051 |
Google Inc On-line Advertising | 5/30/23 | $338,396 |
Mythics Inc Bus Mgmt Consultant | 5/30/23 | $167,421 |
Jones Construction Solutions Construction Svcs | 5/30/23 | $685,127 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,023,744 |
| Investment income | $25,635 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $394,272 |
| Net Income from Fundraising Events | -$12,855 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $47,462 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,872,846 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $16,079,612 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $220,128 |
| Compensation to disqualified persons | $178,706 |
| Other salaries and wages | $18,695,806 |
| Pension plan accruals and contributions | $704,884 |
| Other employee benefits | $2,169,663 |
| Payroll taxes | $1,287,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,562 |
| Fees for services: Accounting | $90,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,000 |
| Fees for services: Investment Management | $22,858 |
| Fees for services: Other | $762,037 |
| Advertising and promotion | $7,871,112 |
| Office expenses | $1,097,263 |
| Information technology | $759,137 |
| Royalties | $0 |
| Occupancy | $4,309,628 |
| Travel | $280,198 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $439,692 |
| Interest | $781,898 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,980,470 |
| Insurance | $658,691 |
| All other expenses | $0 |
| Total functional expenses | $61,470,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,500 |
| Savings and temporary cash investments | $28,155,348 |
| Pledges and grants receivable | $646,026 |
| Accounts receivable, net | $4,608,264 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $996,223 |
| Inventories for sale or use | $39,843 |
| Prepaid expenses and deferred charges | $895,348 |
| Investments—publicly traded securities | $22,246,075 |
| Investments—other securities | $205,386 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,309,828 |
| Total assets | $117,706,711 |
| Accounts payable and accrued expenses | $6,095,301 |
| Grants payable | $0 |
| Deferred revenue | $2,784,489 |
| 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 | $20,848,416 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,911,645 |
| Total liabilities | $35,639,851 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $82,066,860 |