Hampton University
- Assets
- $891.9m
- Revenue
- $241.0m
- Investments
- $234.8m
- Employees
- 1,545
- Location
- Hampton, VA
- Founding
- 06/1994
- Data as of
- 06/2022
- EIN
- 54-0505990
Organization Overview
Hampton University is located in Hampton, VA. The organization was established in 1994. 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, Hampton University employed 1,545 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Hampton 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, Hampton University generated $241.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $194.9m during the year ending 06/2022. While expenses have increased by 2.8% 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
HAMPTON UNIVERSITY IS A COMPREHENSIVE INSTITUTION OF HIGHER EDUCATION, DEDICATED TO THE PROMOTION OF LEARNING, BUILDING OF CHARACTER, AND THE PREPARATION OF PROMISING STUDENTS FOR POSITIONS OF LEADERSHIP AND SERVICE. ITS CURRICULAR EMPHASIS IS SCIENTIFIC AND PROFESSIONAL WITH STRONG LIBERAL ARTS UNDERGIRDING. IN CARRYING OUT ITS MISSION, THE UNIVERSITY REQUIRES THAT EVERYTHING THAT IT DOES BE OF THE HIGHEST QUALITY. A HISTORICALLY BLACK INSTITUTION, HAMPTON UNIVERSITY IS COMMITTED TO MULTICULTURALISM. THE UNIVERSITY SERVES STUDENTS FROM DIVERSE NATIONAL, CULTURAL, AND ECONOMIC BACKGROUNDS.
Describe the Organization's Program Activity:
INSTRUCTIONAL AND DEPARTMENTAL RESEARCH - THE EDUCATIONAL GOALS SET UP FOR OUR STUDENTS ARE THROUGH VARIOUS INSTRUCTIONAL DIVISIONS AND DEPARTMENTAL RESEARCH.
STUDENT SERVICES - ALL OFFICES WHICH RENDER SERVICES TO THE EMOTIONAL WELL-BEING OF OUR STUDENTS: VICE PRESIDENT FOR STUDENT AFFAIRS, DEAN OF ADMISSIONS, REGISTRAR, TESTING, ETC.
PUBLIC SERVICES - HAMPTON UNIVERSITY HAS AN OFF CAMPUS WORK-STUDY PROGRAM FOR STUDENTS, URBAN AFFAIRS AND OTHER COMMUNITY RELATED PROJECTS.
LIBRARY AND MUSEUMS - THE LIBRARIES AND MUSEUMS PROVIDE AND DISPLAY EDUCATIONAL MATERIALS AND PROVIDE SUPPORT SERVICES TO THE ACADEMIC COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr William R Harvey President | OfficerTrustee | 60 | $642,600 |
Mr Michael D Armstrong Board Member | Trustee | 1 | $0 |
Mr Sashi Brown ESQ Board Member | Trustee | 1 | $0 |
Mr Calvin L Butts Jr Board Member | Trustee | 1 | $0 |
Mr Wesley A Coleman Board Member | Trustee | 1 | $0 |
Dr Kermit Crawford Board Member | Trustee | 40 | $114,950 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gourmet Services Inc Food Service | 6/29/22 | $7,894,104 |
Armada Hoffler Construction Company Building Contractor | 6/29/22 | $6,790,023 |
Adrian Builders Group Llc Building Contractor | 6/29/22 | $5,530,855 |
University Of Colorado - Boulder Grants Sub-contractor | 6/29/22 | $3,353,689 |
Mark Turner Construction Llc Building Contractor | 6/29/22 | $4,346,263 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $57,426,413 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,830,003 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $79,256,416 |
| Total Program Service Revenue | $118,903,354 |
| Investment income | $4,885,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$485,782 |
| Net Gain/Loss on Asset Sales | $5,833,863 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $241,045,941 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,057,019 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,191,965 |
| Compensation of current officers, directors, key employees. | $238,393 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,887,928 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,447,224 |
| Payroll taxes | $3,583,759 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $229,226 |
| Fees for services: Accounting | $959,630 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $516,208 |
| Office expenses | $57,975,505 |
| Information technology | $3,298,668 |
| Royalties | $0 |
| Occupancy | $16,974,731 |
| Travel | $2,556,668 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,518,157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,960,444 |
| Insurance | $5,148,993 |
| All other expenses | $0 |
| Total functional expenses | $194,863,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,622,090 |
| Savings and temporary cash investments | $675,339 |
| Pledges and grants receivable | $22,124,995 |
| Accounts receivable, net | $11,429,981 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,729,011 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,954,892 |
| Net Land, buildings, and equipment | $425,699,583 |
| Investments—publicly traded securities | $127,841,386 |
| Investments—other securities | $234,818,842 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $891,896,119 |
| Accounts payable and accrued expenses | $18,941,659 |
| Grants payable | $0 |
| Deferred revenue | $31,437,973 |
| Tax-exempt bond liabilities | $98,356,002 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,544,043 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,933,474 |
| Total liabilities | $158,213,151 |
| Net assets without donor restrictions | $649,675,194 |
| Net assets with donor restrictions | $84,007,774 |
| 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 | $891,896,119 |