Southern Virginia University
- Assets
- $40.6m
- Revenue
- $37.2m
- Investments
- $90.0k
- Employees
- 759
- Location
- Buena Vista, VA
- Founding
- 02/1960
- Data as of
- 06/2023
- 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 06/2023, Southern Virginia University employed 759 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 06/2023, Southern Virginia University generated $37.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $35.4m during the year ending 06/2023. While expenses have increased by 8.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A COMPREHENSIVE FOUR-YEAR LIBERAL ARTS EDUCATION.
Describe the Organization's Program Activity:
SOUTHERN VIRGINIA UNIVERSITY IS A PRIVATE, NON-PROFIT, RESIDENTIAL FOUR-YEAR UNIVERSITY WHICH SERVED APPROXIMATELY 1,080 FULL AND 50 PART-TIME STUDENTS PER SEMESTER IN THE ACADEMIC YEAR 2022-2023. DURING THE 2022-23 ACADEMIC YEAR 211 STUDENTS GRADUATED WITH BACHELORS DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reed Wilcox University President | OfficerTrustee | 40 | $204,615 |
Brett Garcia Evp & Chief Dev. Officer | 40 | $143,765 | |
James Lambert Evp Of Academics | 40 | $123,179 | |
Christopher Pendleton Evp, Cm & Enrollment Officer | 40 | $136,316 | |
Jonathan Wallin Evp, Cio & Board Recorder | 40 | $109,954 | |
Tyson Cooper CFO | Officer | 40 | $101,406 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Management Resource Corpor Facility Maintenance | 6/29/23 | $1,005,999 |
Sodexo And Affiliates Inc Dining Services | 6/29/23 | $492,961 |
Us Foodservices Inc-roanoke Divisi Food And Supplies | 6/29/23 | $347,137 |
Jenzabar Inc Software Services | 6/29/23 | $284,694 |
Synergy Campus Security Services L Campus Security Serv | 6/29/23 | $247,880 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,482 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,657,334 |
| Noncash contributions included in lines 1a–1f | $2,068,601 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,680,816 |
| Total Program Service Revenue | $24,110,220 |
| Investment income | $409,074 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $946,138 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,231,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,157,034 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $926,012 |
| Compensation of current officers, directors, key employees. | $231,860 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,523,551 |
| Pension plan accruals and contributions | $393,670 |
| Other employee benefits | $2,157,688 |
| Payroll taxes | $850,024 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,882 |
| Fees for services: Accounting | $151,393 |
| Fees for services: Lobbying | $1,674 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,647 |
| Fees for services: Other | $3,728,777 |
| Advertising and promotion | $344,650 |
| Office expenses | $1,010,007 |
| Information technology | $655,989 |
| Royalties | $0 |
| Occupancy | $803,048 |
| Travel | $456,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,161 |
| Interest | $817,246 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,957,328 |
| Insurance | $382,013 |
| All other expenses | $1,325,099 |
| Total functional expenses | $35,445,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,138 |
| Savings and temporary cash investments | $6,418,150 |
| Pledges and grants receivable | $1,779,738 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $696,516 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $523,883 |
| Net Land, buildings, and equipment | $29,176,707 |
| Investments—publicly traded securities | $1,316,957 |
| Investments—other securities | $90,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $572,869 |
| Total assets | $40,579,958 |
| Accounts payable and accrued expenses | $1,760,360 |
| Grants payable | $0 |
| Deferred revenue | $1,913,114 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $3,495,157 |
| Secured mortgages and notes payable | $6,503,372 |
| Unsecured mortgages and notes payable | $1,009,881 |
| Other liabilities | $2,913,104 |
| Total liabilities | $17,594,988 |
| Net assets without donor restrictions | $17,096,346 |
| Net assets with donor restrictions | $5,888,624 |
| 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 | $40,579,958 |