Southern Virginia University
- Assets
- $37.2m
- Revenue
- $26.8m
- Investments
- $90.0k
- Employees
- 814
- Location
- Buena Vista, VA
- Founding
- 02/1960
- Data as of
- 06/2020
- EIN
- 54-0646523
Organization Overview
Southern Virginia University is located in Buena Vista, VA. The organization was established in 1960. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Southern Virginia University employed 814 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Virginia 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 06/2020, Southern Virginia University generated $26.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $30.4m during the year ending 06/2020. While expenses have increased by 9.3% 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
TO PROVIDE A COMPREHENSIVE FOUR-YEAR LIBERAL ARTS EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHERN VIRGINIA UNIVERSITY IS A PRIVATE, NON-PROFIT, RESIDENTIAL FOUR-YEAR UNIVERSITY WHICH SERVED APPROXIMATELY 1,140 FULL AND PART-TIME STUDENTS PER SEMESTER IN THE ACADEMIC YEAR 2020-2021. DURING THE 2020-21 ACADEMIC YEAR 174 STUDENTS GRADUATED WITH BACHELORS DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reed Wilcox President | OfficerTrustee | 40 | $188,972 |
Brett Garcia CFO | 40 | $127,846 | |
Christopher Pendleton Chief Marketing Officer | 40 | $124,139 | |
Jeremiah John Provost | 40 | $105,999 | |
Edwin Mulitalo Head Football Coach | 40 | $103,276 | |
Hugh Redd Chairman | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Synergy Campus Security Security | 6/29/21 | $174,756 |
Apple Inc Co Apple Finance Services Apple Repairs | 6/29/21 | $131,319 |
Rsm Us Llp Audit Services | 6/29/21 | $113,501 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,067,846 |
| Investment income | $53,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,352 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,220,383 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,776,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $5,312,287 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $806,873 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,490,844 |
| Pension plan accruals and contributions | $235,091 |
| Other employee benefits | $2,149,767 |
| Payroll taxes | $742,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,346 |
| Fees for services: Accounting | $106,808 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,343,501 |
| Advertising and promotion | $246,860 |
| Office expenses | $1,009,211 |
| Information technology | $242,603 |
| Royalties | $0 |
| Occupancy | $661,927 |
| Travel | $895,633 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,629 |
| Interest | $812,447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,136,653 |
| Insurance | $407,287 |
| All other expenses | $0 |
| Total functional expenses | $30,420,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,116 |
| Savings and temporary cash investments | $1,101,260 |
| Pledges and grants receivable | $5,661,268 |
| Accounts receivable, net | $569,832 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $214,685 |
| Inventories for sale or use | $11,096 |
| Prepaid expenses and deferred charges | $215,141 |
| Investments—publicly traded securities | $1,150,908 |
| Investments—other securities | $90,000 |
| Investments—program-related | $0 |
| Intangible assets | $111,280 |
| Other assets | $351,360 |
| Total assets | $37,155,964 |
| Accounts payable and accrued expenses | $2,440,615 |
| Grants payable | $0 |
| Deferred revenue | $469,302 |
| 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 | $13,977,035 |
| Unsecured mortgages and notes payable | $352,464 |
| Other liabilities | $2,868,557 |
| Total liabilities | $20,107,973 |
| 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 | $17,047,991 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Southern Virginia University has recieved totaling $383,576.
| Awarding Organization | Amount |
|---|---|
Beesley Family Foundation St George, UT PURPOSE: EDUCATION | $290,000 |
Sorenson Legacy Foundation Midvale, UT PURPOSE: GENERAL CHARITABLE PURPOSES | $25,000 |
Stoddard Family Foundation Inc Southfield, MI PURPOSE: SVU GENERAL FUND | $25,000 |
Bob Richardson Memorial Trust Milwaukee, WI PURPOSE: SCHOLARSHIPS | $18,000 |
Community Foundation For Rockbridge Bath And Alleghany Lexington, VA | | $12,000 |
Harry S Sloane Foundation Farmington, UT PURPOSE: SCHOLARSHIPS FOR FULL-TIME UPPER-DIVISION STUDENTS | $12,000 |
Endowment Analysis
| Beg. Balance | $1,311,297 |
| Earnings | $401,637 |
| Admin Expense | $9,775 |
| Net Contributions | $270,483 |
| Other Expense | $20,923 |
| Grants | $12,250 |
| Ending Balance | $1,940,469 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Midway University Inc Midway, KY | $66,224,424 | $32,615,868 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Montgomery College Foundation Inc Rockville, MD | $114,232,820 | $9,502,498 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Wilkes Community College Foundation Inc Wilkesboro, NC | $12,311,546 | $8,211,087 |
Howard Community College Educational Foundation Inc Columbia, MD | $15,584,506 | $3,702,279 |
Allegany Community College Foundation Inc Cumberland, MD | $23,769,965 | $2,588,071 |
Wake Technical Community College Foundation Inc Raleigh, NC | $24,851,874 | $5,743,743 |