University Of Lynchburg
- Assets
- $240.9m
- Revenue
- $116.9m
- Investments
- $22.7m
- Employees
- 1,684
- Location
- Lynchburg, VA
- Founding
- 12/1944
- Data as of
- 06/2020
- EIN
- 54-0505922
Organization Overview
University Of Lynchburg is located in Lynchburg, VA. The organization was established in 1944. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, University Of Lynchburg employed 1,684 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Lynchburg 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 06/2020, University Of Lynchburg generated $116.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $116.9m during the year ending 06/2020. While expenses have increased by 2.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
UNIVERSITY OF LYNCHBURG, A PRIVATE COEDUCATIONAL INSTITUTION FOUNDED IN 1903 IN COVENANT WITH THE CHRISTIAN CHURCH (DISCIPLES OF CHRIST), OFFERS DISTINCTIVE UNDERGRADUATE, GRADUATE AND DOCTORAL PROGRAMS THAT REFLECT ITS COMMITMENT TO TEACHING AND LEARNING, SCHOLARSHIP, AND SERVICE TO THE BROADER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCLUDES STUDENT INSTRUCTION AND SCHOLARSHIPS. FOR THE FALL 2020, THERE WERE 1,822 UNDERGRADUATES, 870 GRADUATES FOR A TOTAL ENROLLMENT OF 2,692 STUDENTS.
INCLUDES AUXILIARY ENTERPRISES (SUCH AS DINING SERVICES, STUDENT HOUSING, CAMPUS STORE, AND OTHER SNACK BAR AREAS).
INCLUDES OTHER INSTITUTIONAL SERVICES (SUCH AS INFORMATION TECHNOLOGY, INTEREST EXPENSE, AND OTHER ALLOCATED EXPENSES) THAT SUPPORT STUDENT INSTRUCTION.
INCLUDES STUDENT SERVICES AND ACADEMIC SUPPORT, INCLUDING BUT NOT LIMITED TO, ENROLLMENT SERVICES, REGISTRAR, HEALTH AND COUNSELING SERVICES, STUDENT ACTIVITIES, SPORTS, RECREATION, THE UNIVERSITY'S LIBRARY, ART GALLERY, ACADEMIC ADVISING, CAREER SERVICES, AND OTHER SUPPORT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth R Garren President Of The University Through 6/30/20 | Officer | 50 | $325,167 |
Alison Morrison-Shetlar President Of The University From 7/1/20 | Officer | 60 | $207,963 |
Jeremy Welsh Director/professor Of Physician Assistant Medicine | 60 | $202,653 | |
Stephen E Bright VP For Business And Finance And Treasurer | Officer | 50 | $202,039 |
Michael Bonnette Sr VP For Institutional Advancement | Officer | 50 | $180,123 |
Allison Jablonski Provost | Officer | 55 | $173,258 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Commonfund Investment Services | 6/29/21 | $686,410 |
L G Flint Inc Campus Renovations | 6/29/21 | $1,291,634 |
Spider Investments The Richmond Fund Investment Management | 6/29/21 | $409,430 |
Ruffalo Noel-levitz Enrollment And Financial Aid Consulting | 6/29/21 | $169,254 |
Jamerson-lewis Construction Campus Renovations | 6/29/21 | $106,195 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,352,730 |
| Investment income | $1,421,174 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $21,488 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,706,627 |
| Net Income from Fundraising Events | -$599 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $116,895,847 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $40,370,555 |
| Grants and other assistance to Foreign Orgs/Individuals | $287,686 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,478,261 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,600,488 |
| Pension plan accruals and contributions | $2,561,210 |
| Other employee benefits | $6,970,392 |
| Payroll taxes | $2,607,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $109,700 |
| Fees for services: Accounting | $69,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $97,974 |
| Fees for services: Investment Management | $1,164,528 |
| Fees for services: Other | $0 |
| Advertising and promotion | $275,154 |
| Office expenses | $981,948 |
| Information technology | $890,013 |
| Royalties | $0 |
| Occupancy | $3,038,301 |
| Travel | $1,011,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,496,334 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,728,346 |
| Insurance | $67,202 |
| All other expenses | $0 |
| Total functional expenses | $116,911,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,100 |
| Savings and temporary cash investments | $10,353,064 |
| Pledges and grants receivable | $2,097,595 |
| Accounts receivable, net | $5,116,951 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $585,690 |
| Inventories for sale or use | $764,209 |
| Prepaid expenses and deferred charges | $921,321 |
| Investments—publicly traded securities | $91,704,603 |
| Investments—other securities | $22,712,698 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $124,929 |
| Total assets | $240,911,893 |
| Accounts payable and accrued expenses | $6,371,782 |
| Grants payable | $0 |
| Deferred revenue | $6,065,131 |
| Tax-exempt bond liabilities | $59,492,842 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,962,903 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,866,430 |
| Total liabilities | $75,759,088 |
| 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 | $165,152,805 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Of Lynchburg has recieved totaling $450.
| Awarding Organization | Amount |
|---|---|
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $450 |
Endowment Analysis
| Beg. Balance | $109,345,579 |
| Earnings | $40,072,319 |
| Net Contributions | $2,123,242 |
| Other Expense | $2,092,952 |
| Grants | $2,610,118 |
| Ending Balance | $146,838,070 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Howard University Washington, DC | $1,667,010,000 | $1,025,632,000 |
American University Washington, DC | $2,059,436,434 | $862,369,744 |
Wake Forest University Winstonsalem, NC | $2,570,183,256 | $681,736,258 |
University Of Richmond Richmond, VA | $3,926,462,707 | $713,801,637 |
Belmont University Nashville, TN | $1,474,473,117 | $464,356,154 |
Catholic University Of America Washington, DC | $943,835,203 | $334,648,312 |
Elon University Elon, NC | $1,076,200,947 | $374,224,853 |
Loyola University Maryland Inc Baltimore, MD | $700,282,931 | $288,447,259 |
Campbell University Inc Buies Creek, NC | $678,742,436 | $263,777,466 |
Lipscomb University Nashville, TN | $502,799,879 | $216,257,194 |
Gallaudet University Washington, DC | $475,474,360 | $202,751,628 |
Hampton University Hampton, VA | $893,877,520 | $270,327,094 |