Methodist University Inc
- Assets
- $132.3m
- Revenue
- $89.5m
- Investments
- $0.0
- Employees
- 1,059
- Location
- Fayetteville, NC
- Founding
- 01/2009
- Data as of
- 06/2022
- 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 06/2022, Methodist University Inc employed 1,059 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 06/2022, Methodist University Inc generated $89.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $74.6m during the year ending 06/2022. 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
2022
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley Wearden President | Officer | 40 | $355,007 |
Suzanne B Malley Provost | Officer | 40 | $228,809 |
Richard G Swanson VP Inst Advancement | Officer | 40 | $204,332 |
Dawn F Ausborn Chief Financial Officer | Officer | 40 | $157,577 |
Sheila C Kinsey VP Plan&admin / Chief Of Staff | Officer | 40 | $153,620 |
Gina M Musolino Director Of Pt Program | 40 | $147,453 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Educational Services Food Service | 6/29/22 | $2,431,169 |
Me Contracting Inc Construction | 6/29/22 | $612,164 |
Net Unlimited Cabling Solutions Ll Computer Services | 6/29/22 | $460,288 |
Bob Mccloskey Agency Llc Insurance | 6/29/22 | $280,454 |
Wiley Edu Llc Online Pp | 6/29/22 | $179,949 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $35,080 |
| Related organizations | $0 |
| Government grants | $6,292,553 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,498,663 |
| Noncash contributions included in lines 1a–1f | $7,169,971 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,826,296 |
| Total Program Service Revenue | $68,484,455 |
| Investment income | $788,865 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $907,718 |
| Net Income from Fundraising Events | -$31,451 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,510,877 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,360,503 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,868,089 |
| Compensation of current officers, directors, key employees. | $736,790 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,615,604 |
| Pension plan accruals and contributions | $196,436 |
| Other employee benefits | $3,735,525 |
| Payroll taxes | $1,725,571 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,369 |
| Fees for services: Accounting | $108,864 |
| Fees for services: Lobbying | $36,283 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $123,049 |
| Fees for services: Other | $759,109 |
| Advertising and promotion | $269,629 |
| Office expenses | $313,706 |
| Information technology | $815,228 |
| Royalties | $0 |
| Occupancy | $3,679,776 |
| Travel | $740,564 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,000 |
| Interest | $23,582 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,873,141 |
| Insurance | $491,732 |
| All other expenses | $1,267,363 |
| Total functional expenses | $74,554,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,962 |
| Savings and temporary cash investments | $11,603,130 |
| Pledges and grants receivable | $1,496,205 |
| Accounts receivable, net | $1,525,942 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $22,357 |
| Prepaid expenses and deferred charges | $221,602 |
| Net Land, buildings, and equipment | $79,041,754 |
| Investments—publicly traded securities | $37,845,726 |
| Investments—other securities | $0 |
| Investments—program-related | $134,884 |
| Intangible assets | $0 |
| Other assets | $358,053 |
| Total assets | $132,260,615 |
| Accounts payable and accrued expenses | $2,024,678 |
| Grants payable | $0 |
| Deferred revenue | $2,627,666 |
| Tax-exempt bond liabilities | $27,337,394 |
| Escrow or custodial account liability | $213,505 |
| 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 | $961,219 |
| Total liabilities | $33,164,462 |
| Net assets without donor restrictions | $72,212,198 |
| Net assets with donor restrictions | $26,883,955 |
| 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 | $132,260,615 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Methodist University Inc has recieved totaling $678,566.
| Awarding Organization | Amount |
|---|---|
Cumberland Community Foundation Inc Fayetteville, NC PURPOSE: CHARITABLE GIFT | $232,352 |
Thomas R & Elizabeth E Mclean Foundation Inc Fayetteville, NC PURPOSE: NAMING OF HEALTH & SCIENCES BUILDING | $200,000 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $68,903 |
J W & D B Wyatt Foundation Fayetteville, NC PURPOSE: OPERATING GENERAL BUDGET | $50,827 |
Florence Rogers Charitable Trust Fayetteville, NC PURPOSE: PA PROGRAM | $47,045 |
North Carolina Independent Colleges & Universities Raleigh, NC PURPOSE: PROVIDE SCHOLARSHIP FUNDS | $27,383 |
Endowment Analysis
| Beg. Balance | $35,584,188 |
| Earnings | -$3,671,322 |
| Admin Expense | $123,050 |
| Net Contributions | $11,533,191 |
| Other Expense | $720,262 |
| Grants | $710,165 |
| Ending Balance | $41,892,580 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cognia Inc Alpharetta, GA | $102,388,761 | $111,051,671 |
Oak Ridge Associated Universities Inc Oak Ridge, TN | $44,030,627 | $90,563,395 |
Methodist University Inc Fayetteville, NC | $132,260,615 | $89,510,877 |
Entrepreneurs Organization Alexandria, VA | $61,864,158 | $33,696,911 |
Association For Supervision And Curriculum Development Arlington, VA | $74,879,436 | $26,629,493 |
National Science Teaching Association Arlington, VA | $24,488,010 | $16,846,179 |
American Society Of Pension Professionals & Actuaries Inc Arlington, VA | $34,260,839 | $23,358,827 |
National Board For Professional Teaching Standards Inc Arlington, VA | $7,108,000 | $15,320,880 |
Air Force Association Arlington, VA | $41,846,008 | $19,163,734 |
Virginia Education Association Inc Richmond, VA | $23,884,810 | $14,278,542 |
Tennessee Education Association Inc Nashville, TN | $10,428,351 | $9,646,926 |
Georgia School Boards Association Inc Lawrenceville, GA | $6,628,869 | $7,234,902 |