Mars Hill University
- Assets
- $168.9m
- Revenue
- $54.4m
- Investments
- $67.6m
- Employees
- 766
- Location
- Mars Hill, NC
- Founding
- 06/1946
- Data as of
- 05/2021
- EIN
- 56-0554207
Organization Overview
Mars Hill University is located in Mars Hill, NC. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Mars Hill University employed 766 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mars Hill 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 05/2021, Mars Hill University generated $54.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $54.0m during the year ending 05/2021. 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
THE ORGANIZATION IS A PRIVATE LIBERAL ARTS UNIVESRITY OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK AND FINE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - PRIVATE LIBERAL ARTS UNIVERSITY OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK, AND FINE ARTS. APPROXIMATELY 1,010 STUDENTS BENEFITED.
ACADEMIC SUPPORT - SERVICES THAT ARE AN INTEGRAL PART OF THE UNIVERSITY'S PRIMARY MISSION OF EDUCATION.
PUBLIC SERVICE - ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES TO GROUPS EXTERNAL TO THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Floyd President | Officer | 43 | $268,948 |
Tracy Parkinson Provost & VP For Enrollmen | Officer | 43 | $138,458 |
Harold G Christman Vp-Institutional Advanceme | Officer | 43 | $123,290 |
Roger Slagle Vp-Finance | Officer | 43 | $121,042 |
Grainger Caudle Senior Director Of Planning & Strategy | 43 | $115,458 | |
Dave Rozeboom Vp-Student Life | Officer | 43 | $108,833 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartwells Food Service Contractor | 5/30/22 | $2,286,061 |
National Management Resources Corporatio Facilities Contractor | 5/30/22 | $1,165,545 |
Mbs Direct Llc Textbook Distributor | 5/30/22 | $438,594 |
Hvac Building Solutions Inc Building Contractor | 5/30/22 | $331,965 |
Jas Of Weaverville Building Contractor | 5/30/22 | $317,316 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $260,779 |
| Related organizations | $0 |
| Government grants | $6,688,530 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,240,534 |
| Noncash contributions included in lines 1a–1f | $38,748 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,189,843 |
| Total Program Service Revenue | $39,926,231 |
| Investment income | $309,178 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $141,020 |
| Net Gain/Loss on Asset Sales | $2,852,053 |
| Net Income from Fundraising Events | -$75 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,418,250 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,974,702 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $878,808 |
| Compensation of current officers, directors, key employees. | $612,969 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,492,339 |
| Pension plan accruals and contributions | $516,219 |
| Other employee benefits | $2,130,750 |
| Payroll taxes | $1,104,117 |
| 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 | $1,188,743 |
| Advertising and promotion | $129,113 |
| Office expenses | $1,616,173 |
| Information technology | $591,136 |
| Royalties | $0 |
| Occupancy | $1,172,121 |
| Travel | $184,480 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,413,666 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,783,112 |
| Insurance | $763,861 |
| All other expenses | $1,575,005 |
| Total functional expenses | $53,958,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,986,723 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,076,841 |
| Accounts receivable, net | $848,736 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $261,122 |
| Inventories for sale or use | $251,774 |
| Prepaid expenses and deferred charges | $152,086 |
| Net Land, buildings, and equipment | $71,884,236 |
| Investments—publicly traded securities | $3,380,679 |
| Investments—other securities | $67,641,218 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,379,692 |
| Total assets | $168,863,107 |
| Accounts payable and accrued expenses | $4,754,339 |
| Grants payable | $0 |
| Deferred revenue | $636,578 |
| 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 | $45,156,517 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,034,891 |
| Total liabilities | $52,582,325 |
| Net assets without donor restrictions | $29,983,361 |
| Net assets with donor restrictions | $86,297,421 |
| 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 | $168,863,107 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mars Hill University has recieved totaling $180.
| Awarding Organization | Amount |
|---|---|
Trent Family Foundation Charlotte, NC PURPOSE: RESTRICTED | $180 |
Endowment Analysis
| Beg. Balance | $64,627,321 |
| Earnings | -$1,597,987 |
| Admin Expense | $310,482 |
| Net Contributions | $789,585 |
| Other Expense | $2,913,187 |
| Ending Balance | $60,595,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anderson University Anderson, SC | $269,873,980 | $130,183,026 |
Wofford College Spartanburg, SC | $486,613,567 | $116,076,279 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Hampden-Sydney College Hampdensydney, VA | $332,900,116 | $118,845,969 |