Virginia University Of Lynchburg Inc
- Assets
- $13.2m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 185
- Location
- Lynchburg, VA
- Founding
- 09/1946
- Data as of
- 06/2021
- EIN
- 54-0714277
Organization Overview
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 06/2021, Virginia University Of Lynchburg Inc employed 185 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 06/2021, Virginia University Of Lynchburg Inc generated $8.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $5.8m during the year ending 06/2021. While expenses have increased by 4.3% 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
2021
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K Franklin President | OfficerTrustee | 40 | $164,480 |
L Owens Chair | Trustee | 1 | $0 |
C Webb Vice Chair | Trustee | 1 | $0 |
C Whitfield Trustee | Trustee | 1 | $0 |
W Wilson Treasurer | Trustee | 1 | $0 |
L Maxwell Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,871,542 |
| All other contributions, gifts, grants, and similar amounts not included above | $496,909 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,368,451 |
| Total Program Service Revenue | $5,638,282 |
| Investment income | $50,019 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $82,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,139,477 |
| 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. | $164,480 |
| Compensation of current officers, directors, key employees. | $140,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,777,491 |
| Pension plan accruals and contributions | $27,126 |
| Other employee benefits | $104,197 |
| Payroll taxes | $148,418 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,415,309 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,434 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $254,009 |
| Insurance | $79,478 |
| All other expenses | $1,625,663 |
| Total functional expenses | $5,752,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,113,014 |
| Savings and temporary cash investments | $1,309,352 |
| Pledges and grants receivable | $69,041 |
| Accounts receivable, net | $944,646 |
| Loans from Officers, Directors, or Controlling Persons | $1,130 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,230,205 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,673 |
| Net Land, buildings, and equipment | $3,196,579 |
| Investments—publicly traded securities | $1,317,529 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,241,169 |
| Accounts payable and accrued expenses | $36,082 |
| 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 | $2,929,600 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,965,682 |
| Net assets without donor restrictions | $6,315,511 |
| Net assets with donor restrictions | $3,959,976 |
| 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 | $13,241,169 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Virginia University Of Lynchburg Inc has recieved totaling $27,500.
| Awarding Organization | Amount |
|---|---|
Enterprise Holdings Foundation Saint Louis, MO PURPOSE: PROGRAM SUPPORT | $12,500 |
Will J Reid Foundation Long Beach, CA PURPOSE: EDUCATIONAL OPERATIONS HBCU | $10,000 |
Educational Credit Management Corporation Minneapolis, MN PURPOSE: Project Success COVID-19 Emergency Aid | $5,000 |
Endowment Analysis
| Beg. Balance | $1,576,798 |
| Ending Balance | $1,576,798 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Morgan State University Foundation Incorporated Baltimore, MD | $141,263,372 | $14,542,251 |
American University Of Rome Washington, DC | $5,091,812 | $6,709,805 |
Crown College Powell, TN | $16,563,165 | $8,650,181 |
Appalachian College Of Pharmacy Oakwood, VA | $36,195,397 | $7,728,362 |
Austin Peay State University Foundation Clarksville, TN | $60,731,234 | $13,661,420 |
University Of Tennessee Research Foundation Knoxville, TN | $82,756,683 | $8,787,700 |
School Of Media And Journalism Foundation Of North Carolina Inc Chapel Hill, NC | $50,008,414 | $6,859,944 |
Virginia Commonwealth University Real Estate Foundation Richmond, VA | $95,872,198 | $7,982,693 |
Western Carolina University Foundation Cullowhee, NC | $76,335,154 | $7,286,676 |
Virginia University Of Lynchburg Inc Lynchburg, VA | $13,241,169 | $8,139,477 |
Skema Us Inc Raleigh, NC | $4,455,636 | $4,986,543 |
Radford University Foundation Inc Radford, VA | $119,642,152 | $17,210,656 |