Patrick Henry College
- Assets
- $47.9m
- Revenue
- $19.0m
- Investments
- $0.0
- Employees
- 313
- Location
- Purcellville, VA
- Founding
- 02/2000
- Data as of
- 06/2023
- EIN
- 54-1919810
Organization Overview
Patrick Henry College is located in Purcellville, VA. The organization was established in 2000. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Patrick Henry College employed 313 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Patrick Henry College 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, Patrick Henry College generated $19.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $18.1m during the year ending 06/2023. While expenses have increased by 2.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE OTHE MISSION OF PATRICK HENRY COLLEGE IS TO PREPARE CHRISTIAN MEN AND WOMEN WHO WILL LEAD OUR NATION AND SHAPE OUR CULTURE WITH TIMELESS BIBLICAL VALUES AND FIDELITY TO THE SPIRIT OF THE AMERICAN FOUNDING. EDUCATING STUDENTS ACCORDING TO A CLASSICAL LIBERAL ARTS CURRICULUM AND TRAINING THEM WITH APPRENTICESHIP METHODOLOGY, THE COLLEGE PROVIDES ACADEMICALLY EXCELLENT BACCALAUREATE LEVEL HIGHER EDUCATION WITH A BIBLICAL WORLDVIEW.THE VISION OF PATRICK HENRY COLLEGE IS TO AID IN THE TRANSFORMATION OF AMERICAN SOCIETY BY TRAINING CHRISTIAN STUDENTS TO SERVE GOD AND MANKIND WITH A PASSION FOR RIGHTEOUSNESS, JUSTICE, AND MERCY, THROUGH CAREERS OF PUBLIC SERVICE AND CULTURAL INFLUENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATRICK HENRY COLLEGE IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS COMMISSION ON COLLEGES (SACSCOC) AND THE TRANSNATIONAL ASSOCIATION OF CHRISTIAN COLLEGES AND SCHOOLS (TRACS). THE COLLEGE HAS BEEN GRANTED AUTHORITY BY THE STATE COUNCIL OF HIGHER EDUCATION OF VIRGINIA (SCHEV) TO AWARD BACCALAUREATE-LEVEL DEGREES. TOTAL DEGREE SEEKING STUDENT POPULATION: 373. TOTAL STUDENTS WHO HAVE GRADUATED: 1,218.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Haye President | OfficerTrustee | 40 | $241,234 |
Mike Wright Chairman Of The Board | OfficerTrustee | 1 | $0 |
George W Clay Vice Chairman Of The Board | OfficerTrustee | 1 | $0 |
Michael P Farris Chancellor Emeritus | OfficerTrustee | 1 | $0 |
Terry Templeton Trustee | Trustee | 1 | $0 |
J Victor Thompson Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Food Service | 6/29/23 | $1,502,654 |
Tjt Corporation Construction | 6/29/23 | $365,526 |
Miller Brothers Inc Construction | 6/29/23 | $212,992 |
Kerns Group Architects Architecture | 6/29/23 | $123,221 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,800 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,151,878 |
| Noncash contributions included in lines 1a–1f | $236,155 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,209,678 |
| Total Program Service Revenue | $13,286,049 |
| Investment income | $223,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $100,001 |
| Net Gain/Loss on Asset Sales | -$296,707 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $77,574 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,965,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,780,574 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $968,132 |
| Compensation of current officers, directors, key employees. | $146,242 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,888,302 |
| Pension plan accruals and contributions | $110,258 |
| Other employee benefits | $849,449 |
| Payroll taxes | $394,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,801 |
| Fees for services: Accounting | $33,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $169,211 |
| Advertising and promotion | $117,973 |
| Office expenses | $128,186 |
| Information technology | $343,767 |
| Royalties | $0 |
| Occupancy | $1,395,514 |
| Travel | $247,541 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $776,610 |
| Insurance | $0 |
| All other expenses | $458,368 |
| Total functional expenses | $18,106,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,286 |
| Savings and temporary cash investments | $7,057,910 |
| Pledges and grants receivable | $567,657 |
| Accounts receivable, net | $1,487,035 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $172,302 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $86,776 |
| Prepaid expenses and deferred charges | $155,655 |
| Net Land, buildings, and equipment | $34,191,940 |
| Investments—publicly traded securities | $10,871 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,159,758 |
| Total assets | $47,891,190 |
| Accounts payable and accrued expenses | $1,073,833 |
| Grants payable | $0 |
| Deferred revenue | $907,517 |
| 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 | $3,932,479 |
| Total liabilities | $5,913,829 |
| Net assets without donor restrictions | $39,809,917 |
| Net assets with donor restrictions | $2,167,444 |
| 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 | $47,891,190 |