Methodist University Inc
- Assets
- $135.4m
- Revenue
- $76.5m
- Investments
- $0.0
- Employees
- 1,127
- Location
- Fayetteville, NC
- Founding
- 01/2009
- Data as of
- 06/2023
- EIN
- 56-0657294
Organization Overview
Methodist University Inc is located in Fayetteville, NC. The organization was established in 2009. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. As of 06/2023, Methodist University Inc employed 1,127 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Methodist University 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 06/2023, Methodist University Inc generated $76.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $74.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 years. 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
UNDERGRADUATE AND GRADUATE EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
POST SECONDARY EDUCATION: METHODIST UNIVERSITY PROVIDES BOTH UNDERGRADUATE AND GRADUATE EDUCATION, FOUNDED IN LIBERAL ARTS, TO APPROXIMATELY 1800 STUDENTS. THE UNIVERSITY'S PROGRAMS ARE CONCENTRATED IN ARTS & HUMANITIES, SCIENCE & HUMAN DEVELOPMENT, BUSINESS & GRADUATE STUDIES, AND BOAST NATIONALLY RENOWNED PROGRAMS SUCH AS THE PHYSICIAN ASSISTANCE PROGRAM. THE UNIVERSITY IS A FULLY-ACCREDITED MEMBER OF THE SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS COMMISSION ON COLLEGES.
AUXILIARY SERVICES: THE UNIVERSITY'S AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS, DINING FACILITIES, AND A BOOKSTORE, SERVE TO PROVIDE A SUPPORT SYSTEM TO THE STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley Wearden President | Officer | 40 | $363,092 |
Suzanne B Malley Provost | Officer | 40 | $234,383 |
Richard G Swanson VP Inst Advancement | Officer | 40 | $205,591 |
Sheila C Kinsey VP Plan&admin / Chief Of Staff | Officer | 40 | $156,324 |
Dawn F Ausborn Chief Financial Officer | Officer | 40 | $172,770 |
Ricky D Lowe VP For Enrollment Services | Officer | 40 | $143,898 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiley Edu Llc Online Pp | 6/29/23 | $708,610 |
Aramark Educational Services Food Service | 6/29/23 | $2,522,846 |
Me Contracting Inc Construction | 6/29/23 | $469,552 |
Follett Corporation Bookstore | 6/29/23 | $276,471 |
Brady Trane Svcs Hvac Repair | 6/29/23 | $308,597 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $48,977 |
| Related organizations | $0 |
| Government grants | $1,714,873 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,654,090 |
| Noncash contributions included in lines 1a–1f | $127,331 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,417,940 |
| Total Program Service Revenue | $66,695,545 |
| Investment income | $2,024,820 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,325,002 |
| Net Income from Fundraising Events | -$31,904 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,476,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,292,936 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,876,595 |
| Compensation of current officers, directors, key employees. | $752,758 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,420,062 |
| Pension plan accruals and contributions | $401,340 |
| Other employee benefits | $3,095,341 |
| Payroll taxes | $1,795,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $245,954 |
| Fees for services: Accounting | $98,100 |
| Fees for services: Lobbying | $42,334 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,556 |
| Fees for services: Other | $990,463 |
| Advertising and promotion | $246,216 |
| Office expenses | $324,578 |
| Information technology | $795,151 |
| Royalties | $0 |
| Occupancy | $4,216,381 |
| Travel | $951,220 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,777 |
| Interest | $15,956 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,875,489 |
| Insurance | $495,357 |
| All other expenses | $753,251 |
| Total functional expenses | $74,154,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,768 |
| Savings and temporary cash investments | $9,160,997 |
| Pledges and grants receivable | $1,102,247 |
| Accounts receivable, net | $1,638,872 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,416 |
| Prepaid expenses and deferred charges | $229,890 |
| Net Land, buildings, and equipment | $77,631,425 |
| Investments—publicly traded securities | $44,887,976 |
| Investments—other securities | $0 |
| Investments—program-related | $439,419 |
| Intangible assets | $0 |
| Other assets | $320,673 |
| Total assets | $135,441,683 |
| Accounts payable and accrued expenses | $2,276,965 |
| Grants payable | $0 |
| Deferred revenue | $2,431,668 |
| Tax-exempt bond liabilities | $25,182,956 |
| Escrow or custodial account liability | $107,387 |
| 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 | $959,417 |
| Total liabilities | $30,958,393 |
| Net assets without donor restrictions | $70,709,669 |
| Net assets with donor restrictions | $33,773,621 |
| 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 | $135,441,683 |