Virginia University Of Lynchburg Inc is located in Lynchburg, VA. The organization was established in 1946. 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, Virginia University Of Lynchburg Inc employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia University Of Lynchburg Inc 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, Virginia University Of Lynchburg Inc generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $7.5m during the year ending 06/2022. While expenses have increased by 8.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SOLID LIBERAL ARTS AND CHRISTIAN EDUCATION PROGRAM TO ALL STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTITUTION IS A HBCU LIBERAL ARTS UNIVERSITY OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN VARIOUS MAJORS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
K Franklin President | OfficerTrustee | 40 | $162,240 |
L Owens Chair | Trustee | 1 | $0 |
C Webb Vice Chair | Trustee | 1 | $0 |
W Wilson Treasurer | Trustee | 1 | $0 |
C Whitfield Trustee | Trustee | 1 | $0 |
L Maxwell Jr Trustee | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $2,493,042 |
All other contributions, gifts, grants, and similar amounts not included above | $403,058 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,896,100 |
Total Program Service Revenue | $7,366,410 |
Investment income | $26,696 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $755,991 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $11,059,992 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $162,240 |
Compensation of current officers, directors, key employees. | $140,000 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,215,889 |
Pension plan accruals and contributions | $13,018 |
Other employee benefits | $36,290 |
Payroll taxes | $181,927 |
Fees for services: Management | $0 |
Fees for services: Legal | $21,629 |
Fees for services: Accounting | $8,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,108,497 |
Advertising and promotion | $10,611 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $111,623 |
Travel | $148,011 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $17,045 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $250,000 |
Insurance | $77,981 |
All other expenses | $2,127,105 |
Total functional expenses | $7,489,866 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $8,993,633 |
Savings and temporary cash investments | $125,643 |
Pledges and grants receivable | $245,957 |
Accounts receivable, net | $416,514 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $586,596 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $69,673 |
Net Land, buildings, and equipment | $3,634,516 |
Investments—publicly traded securities | $1,241,774 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $15,314,306 |
Accounts payable and accrued expenses | $158,102 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $1,968,560 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $2,126,662 |
Net assets without donor restrictions | $10,163,845 |
Net assets with donor restrictions | $3,023,799 |
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 | $15,314,306 |