Davis & Elkins College
- Assets
- $113.6m
- Revenue
- $52.6m
- Investments
- $533.3k
- Employees
- 619
- Location
- Elkins, WV
- Founding
- 03/1954
- Data as of
- 06/2021
- EIN
- 55-0357021
Organization Overview
Davis & Elkins College is located in Elkins, WV. The organization was established in 1954. 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, Davis & Elkins College employed 619 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Davis & Elkins 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 06/2021, Davis & Elkins College generated $52.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $33.3m during the year ending 06/2021. While expenses have increased by 0.9% 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
TO PREPARE AND INSPIRE STUDENTS FOR SUCCESS AND FOR THOUGHTFUL ENGAGEMENT IN THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - PROVIDE HIGHER EDUCATION TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Chris A Wood President | OfficerTrustee | 37.5 | $225,911 |
Mr David E Cutlip Board Vice Chair | OfficerTrustee | 1 | $0 |
Mr Mark S Barber Board Chair | OfficerTrustee | 1 | $0 |
Mr Reginald Owens Sr Board Secretary | OfficerTrustee | 1 | $0 |
Ms Barbara A Porter Board Treasurer | OfficerTrustee | 1 | $0 |
Dr Bijan J Goodarzi Board Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Management Resources Corp Maintenance | 6/29/23 | $1,205,222 |
Mills Group Llc Architecture And Planning | 6/29/23 | $1,020,347 |
Tri-state Roofing & Sheet Metal Co Maintenance | 6/29/23 | $656,930 |
High Point Construction Group Llc Construction Services | 6/29/23 | $445,442 |
Casto Technical Services Inc Hvac Contractors | 6/29/23 | $344,209 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,544,634 |
| Investment income | $921,383 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,270,263 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,569,179 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $13,454,708 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $880,864 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,233,291 |
| Pension plan accruals and contributions | $250,742 |
| Other employee benefits | $1,212,068 |
| Payroll taxes | $512,733 |
| 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 | $231,500 |
| Fees for services: Other | $110,482 |
| Advertising and promotion | $0 |
| Office expenses | $1,632,234 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,056,912 |
| Travel | $166,751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $47,124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,255,848 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $33,263,743 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,749,694 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $19,942,747 |
| Accounts receivable, net | $1,052,516 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $34,635 |
| Inventories for sale or use | $51,106 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $52,787,120 |
| Investments—other securities | $533,265 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,262,766 |
| Total assets | $113,637,613 |
| Accounts payable and accrued expenses | $1,725,125 |
| Grants payable | $0 |
| Deferred revenue | $342,485 |
| 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 | $783,162 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $243,803 |
| Total liabilities | $3,094,575 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $110,543,038 |