Mid-Atlantic Christian University Inc
- Assets
- $5.6m
- Revenue
- $7.8m
- Investments
- $43.0k
- Employees
- 144
- Location
- Elizabeth City, NC
- Founding
- 04/1977
- Data as of
- 06/2021
- EIN
- 56-1065978
Organization Overview
Mid-Atlantic Christian University Inc is located in Elizabeth City, NC. The organization was established in 1977. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Mid-Atlantic Christian University Inc employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-Atlantic Christian 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 06/2021, Mid-Atlantic Christian University Inc generated $7.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $5.0m during the year ending 06/2021. 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
MID-ATLANTIC CHRISTIAN UNIVERSITY IS AN UNDERGRADUATE INSTITUTION OF CHRISTIAN HIGHER LEARNING WHOSE MISSION IS TO IMPACT THE WORLD BY TRANSFORMING ORDINARY PEOPLE INTO EXTRAORDINARY CHRISTIAN LEADERS. THE UNIVERSITY GRANTS BOTH TWO AND FOUR YEAR DEGREES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MID-ATLANTIC CHRISTIAN UNIVERSITY PROVIDED FORMAL INSTRUCTION AND RELATED ACADEMIC SUPPORT FOR NEARLY 200 STUDENTS BOTH ON-LINE AND ON-CAMPUS. THE UNIVERSITY OFFERS 20 DEGREE OPTIONS PREPARING STUDENTS FOR REWARDING CAREERS IN THE CHURCH AND IN THE MARKETPLACE. THE STUDENT-FACULTY RATIO IS 10:1, PROVIDING FOR PERSONALIZED ATTENTION AND ACADEMIC COUNSELING. AUXILIARY SERVICES WERE PROVIDED TO ALL STUDENTS. THE STUDENT LEARNING CENTER IS PROVIDED TO COACH AND SERVE THE STUDENTS IN THE AREA OF ACADEMICS. CAMPUS MINISTERS AND CAMPUS COUNSELORS PROVIDE MENTAL, SOCIAL, AND SPIRITUAL SUPPORT. FACULTY ARE ACTIVELY INVOLVED IN THE LIVES OF THE STUDENTS. VARIOUS SERVICES AND LEARNING ACTIVITIES WERE PROVIDED TO STUDENTS THROUGH THE STUDENT LIFE DEPARTMENT. ATHLETICS, INTRAMURAL SPORTS, SPIRITUAL LIFE, AND COMMUNITY SERVICE PROJECTS MADE A DIRECT IMPACT UPON INDIVIDUALS, THE UNIVERSITY FAMILY, AND THE LOCAL COMMUNITY. CAMPUS EMPLOYMENT AND INTERNSHIPS PROVIDED STUDENTS INVALUABLE EXPERIENCE AND FINANCIAL ASSISTANCE. THE MAJORITY OF STUDENTS RECEIVED SOME TYPE OF FINANCIAL AID THROUGH SCHOLARSHIPS AND GRANTS ALLOWING THEM THE OPPORTUNITY TO PURSUE DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara E Sheperd VP For Finance | Officer | 40 | $72,450 |
Marty Riley VP For Enrollment Services | Officer | 40 | $68,300 |
Kevin W Larsen VP For Academic Affairs | Officer | 40 | $65,076 |
Beth Cross VP For Institutional Advancement | Officer | 40 | $58,833 |
John W Maurice President, Macu | Officer | 40 | $23,700 |
Jay Banks VP For Student Life | Officer | 40 | $11,974 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Metz Culinary Management Food Managment Services | 6/29/21 | $398,464 |
East Coast Abatement Co Demo/abatement Services | 6/29/21 | $188,500 |
Oakley Collier Architects Architect Services | 6/29/21 | $127,365 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $287,025 |
| Government grants | $1,185,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,622,313 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,094,755 |
| Total Program Service Revenue | $3,063,627 |
| Investment income | $5,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,684,210 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,848,028 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $759,439 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $395,218 |
| Compensation of current officers, directors, key employees. | $192,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,797,369 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $101,136 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,101 |
| Fees for services: Accounting | $26,355 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $182,275 |
| Advertising and promotion | $112,198 |
| Office expenses | $100,939 |
| Information technology | $102,305 |
| Royalties | $0 |
| Occupancy | $135,793 |
| Travel | $16,296 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,226 |
| Interest | $50,534 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $210,140 |
| Insurance | $76,543 |
| All other expenses | $31,795 |
| Total functional expenses | $4,966,469 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,289,689 |
| Savings and temporary cash investments | $1,559,934 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $106,666 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,565,555 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $42,973 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,782 |
| Total assets | $5,620,599 |
| Accounts payable and accrued expenses | $82,401 |
| Grants payable | $0 |
| Deferred revenue | $18,438 |
| 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 | $1,164,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,264,874 |
| Net assets without donor restrictions | $3,953,854 |
| Net assets with donor restrictions | $401,871 |
| 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 | $5,620,599 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mid-Atlantic Christian University Inc has recieved totaling $3,030.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,030 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $3,449,145 |
| Earnings | $846,712 |
| Net Contributions | $74,645 |
| Grants | $281,267 |
| Ending Balance | $4,089,235 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Mary Washington Foundation Fredericksburg, VA | $186,636,934 | $19,915,035 |
Lemoyne Owen College Memphis, TN | $53,577,456 | $23,441,931 |
Voorhees College Denmark, SC | $34,849,156 | $40,025,778 |
Patrick Henry College Purcellville, VA | $42,398,323 | $19,179,268 |
Brewton Parker College Inc Mount Vernon, GA | $26,983,767 | $18,922,646 |
Bennett College Greensboro, NC | $45,162,174 | $40,377,386 |
Morris College Sumter, SC | $47,268,567 | $16,212,901 |
Welch College Gallatin, TN | $41,634,056 | $11,542,139 |
Paine College Augusta, GA | $39,651,651 | $10,570,569 |
Fairfax University Of America Fairfax, VA | $12,151,860 | $8,266,608 |
Clayton State University Foundation Inc Morrow, GA | $97,218,630 | $15,697,742 |
American Baptist Theological Seminary Nashville, TN | $11,177,466 | $7,876,217 |