Friends University
- Assets
- $113.2m
- Revenue
- $51.1m
- Investments
- $3.3m
- Employees
- 839
- Location
- Wichita, KS
- Founding
- 09/1924
- Data as of
- 06/2022
- EIN
- 48-0547702
Organization Overview
Friends University is located in Wichita, KS. The organization was established in 1924. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Friends University employed 839 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends 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 06/2022, Friends University generated $51.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $46.8m during the year ending 06/2022. While expenses have increased by 2.7% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDS UNIVERSITY, A CHRISTIAN UNIVERSITY OF QUAKER HERITAGE, EQUIPS STUDENTS TO HONOR GOD AND SERVE OTHERS.
Describe the Organization's Program Activity:
THE COLLEGE OF ADULT AND PROFESSIONAL STUDIES PROVIDES UNDERGRADUATE PROGRAMS DESIGNED FOR BUSY ADULTS. THE COLLEGE IS COMMITTED TO PROVIDING ACADEMIC EXCELLENCE FOR A DIVERSE COMMUNITY OF LIFELONG LEARNERS. UNDERGRADUATE STUDENTS ARE ADMITTED BASED ON THEIR POTENTIAL FOR ACHIEVING ACADEMIC SUCCESS.
THE MISSION OF THE GRADUATE COLLEGE IS TO PROVIDE A HIGH-QUALITY LEARNING ENVIRONMENT FOR STUDENTS SEEKING PROFESSIONAL GRADUATE EDUCATION.
THE COLLEGE OF BUSINESS, ARTS, SCIENCES, AND EDUCATION IS THE TRADITIONAL UNDERGRADUATE LIBERAL ARTS COLLEGE. STUDENTS RECEIVE A BROAD-BASED EDUCATION AND ARE GIVEN OPPORTUNITIES TO APPLY THEIR EDUCATION AND INTEGRATE THAT EDUCATION BEYOND THE CLASSROOM THROUGH INTERNSHIPS, RESEARCH PROJECTS, STUDY ABROAD, PARTICIPATION IN ATHLETICS, OR PERFORMING ARTS AND IN STUDENT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Amy Carey President | OfficerTrustee | 50 | $262,852 |
Vernon Dolezal Vp, Finance | Officer | 50 | $142,634 |
Ken Stoltzfus Vp, Academic Affairs | Officer | 50 | $129,620 |
Deb Stockman Vp, Enrollment Management | 50 | $136,117 | |
Kelley Williams Vp, Administration | 50 | $140,580 | |
Dr Kevin Hoppock Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Food Service Mgmt | 6/29/22 | $1,206,652 |
Professional Mechanical Contractors Commercial Services | 6/29/22 | $207,525 |
Mccowngordon Construction Construction Contr. | 6/29/22 | $2,284,202 |
Mit Cleaning And Restoration Cleaning | 6/29/22 | $435,405 |
Orange142 Llc Advertising | 6/29/22 | $164,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,333,064 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,791,922 |
| Noncash contributions included in lines 1a–1f | $176,432 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,124,986 |
| Total Program Service Revenue | $35,601,333 |
| Investment income | $1,182,632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $97,191 |
| Net Rental Income | $231,586 |
| Net Gain/Loss on Asset Sales | $5,324,307 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,050,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,122,962 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $700,835 |
| Compensation of current officers, directors, key employees. | $700,835 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,323,026 |
| Pension plan accruals and contributions | $356,427 |
| Other employee benefits | $1,450,743 |
| Payroll taxes | $925,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,340 |
| Fees for services: Accounting | $97,869 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $49,200 |
| Fees for services: Investment Management | $187,613 |
| Fees for services: Other | $3,822,709 |
| Advertising and promotion | $522,277 |
| Office expenses | $1,208,594 |
| Information technology | $595,205 |
| Royalties | $0 |
| Occupancy | $3,251,452 |
| Travel | $614,358 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,321 |
| Interest | $114,841 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,858,292 |
| Insurance | $370,578 |
| All other expenses | $1,227,685 |
| Total functional expenses | $46,766,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,411 |
| Savings and temporary cash investments | $1,156,670 |
| Pledges and grants receivable | $15,000 |
| Accounts receivable, net | $2,377,677 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $26,149 |
| Prepaid expenses and deferred charges | $246,901 |
| Net Land, buildings, and equipment | $41,508,437 |
| Investments—publicly traded securities | $55,995,883 |
| Investments—other securities | $3,272,812 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,616,206 |
| Total assets | $113,219,146 |
| Accounts payable and accrued expenses | $1,463,082 |
| Grants payable | $0 |
| Deferred revenue | $955,264 |
| Tax-exempt bond liabilities | $2,207,565 |
| 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 | $1,341,995 |
| Total liabilities | $5,967,906 |
| Net assets without donor restrictions | $56,549,910 |
| Net assets with donor restrictions | $50,701,330 |
| 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 | $113,219,146 |