Atlantic University
- Assets
- $599.5k
- Revenue
- $468.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Virginia Beach, VA
- Founding
- 01/1973
- Data as of
- 12/2021
- EIN
- 54-0784341
Organization Overview
Atlantic University is located in Virginia Beach, VA. The organization was established in 1973. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 12/2021, Atlantic University employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlantic 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 12/2021, Atlantic University generated $468.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $385.0k during the year ending 12/2021. While expenses have increased by 0.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ATLANTIC UNIVERSITY PROVIDES A DISTANCE EDUCATION LEARNING ENVIRONMENT THAT INTEGRATES BODY, MIND AND SPIRIT TO HELP PEOPLE ACHIEVE HIGHER HUMAN POTENTIAL AND TRANSFORM THEIR LIVES, BETTER UNDERSTAND THEIR RELATIONSHIP TO ALL LIFE, AND BE OF PROFOUND SERVICE TO OTHERS. THE CURRICULUM DRAWS FROM THE BEST OF THE HUMANITIES, SOCIAL AND NATURAL SCIENCES, PSYCHOLOGY AND RELIGIOUS AND SPIRITUAL TRADITIONS, TO FORM A DISTINGUISHED AND RELEVANT COURSE OF SCHOLARSHIP IN THE FIELD OF TRANSFORMATIVE THEORIES AND PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATLANTIC UNIVERSITY HAD A STEADY 2021 ACADEMIC YEAR, MEETING BUDGETS AND ENROLLMENT EXPECTATIONS. RECRUITMENT AND RETENTION REMAINED STRONG. NUMEROUS COURSES WERE UPDATED AND IMPROVED AND NEW FACULTY WERE RECRUITED. OUTCOMES ASSESSMENTS CONTINUE TO PROVIDE EVIDENCE OF STUDENTS ACHIEVING LEARNING OUTCOMES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Van Auken Vice President/director | Officer | 26 | $83,881 |
Kevin Todeschi Executive Director/ceo | Officer | 1.5 | $0 |
Doug Knueven Trustee, Board Chair | Trustee | 1.25 | $0 |
Leslie Cayce Trustee | Trustee | 1.25 | $0 |
Gorgiana Alonzo Trustee | Trustee | 1.25 | $0 |
Virdella Denwiddie Trustee | Trustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,781 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,281 |
| Total Program Service Revenue | $346,544 |
| Investment income | $8,463 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,628 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $468,916 |
| 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. | $108,565 |
| Compensation of current officers, directors, key employees. | $17,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,408 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,420 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,356 |
| Advertising and promotion | $29,114 |
| Office expenses | $2,148 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,105 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $384,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,915 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,366 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $422,193 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $599,474 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $52,896 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $213,217 |
| Total liabilities | $266,113 |
| Net assets without donor restrictions | $25,318 |
| Net assets with donor restrictions | $308,043 |
| 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 | $599,474 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Atlantic University has recieved totaling $13,000.
| Awarding Organization | Amount |
|---|---|
Saxer Family Foundation St Louis, MO PURPOSE: GENERAL SUPPORT | $10,000 |
Charlotte & Norman Codo Charitable Tr Chicago, IL PURPOSE: GENERAL | $3,000 |
Endowment Analysis
| Beg. Balance | $381,775 |
| Earnings | $18,073 |
| Net Contributions | $52,335 |
| Other Expense | $11,375 |
| Ending Balance | $440,808 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gardner-Webb University Boiling Springs, NC | $163,499,840 | $100,956,877 |
Meredith College Raleigh, NC | $208,277,395 | $93,593,801 |
Queens University Of Charlotte Charlotte, NC | $172,081,537 | $81,135,661 |
Christian Brothers University Memphis, TN | $107,139,654 | $73,065,264 |
Hood College Of Frederick Md Frederick, MD | $239,172,984 | $86,749,150 |
Lindsey Wilson College Columbia, KY | $105,712,376 | $75,911,897 |
University Of Charleston Charleston, WV | $165,466,364 | $66,493,632 |
Cumberland University Lebanon, TN | $59,645,506 | $69,170,999 |
Eastern Mennonite University Harrisonburg, VA | $99,783,361 | $58,460,509 |
Hollins University Corporation Roanoke, VA | $310,010,589 | $66,193,734 |
Notre Dame Of Maryland University Baltimore, MD | $157,479,372 | $61,524,887 |
Johnson C Smith University Incorporated Charlotte, NC | $138,679,545 | $51,955,069 |