Wingate University
- Assets
- $294.8m
- Revenue
- $167.4m
- Investments
- $1.0m
- Employees
- 1,763
- Location
- Wingate, NC
- Founding
- 05/1946
- Data as of
- 05/2021
- EIN
- 56-6049935
Organization Overview
Wingate University is located in Wingate, NC. The organization was established in 1946. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Wingate University employed 1,763 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wingate 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, Wingate University generated $167.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $158.6m during the year ending 05/2021. While expenses have increased by 6.8% 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
A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, BALLANTYNE, AND HENDERSONVILLE, NC. THE UNIVERSITY OFFERS 37 UNDERGRADUATE MAJORS, 63 MINORS AND CAREER CONCENTRATIONS, NUMEROUS PRE-PROFESSIONAL PROGRAMS, GRADUATE DEGREES IN BUSINESS, ACCOUNTING, EDUCATION, PHYSICIAN ASSISTANT STUDIES AND SPORT MANAGEMENT, AND DOCTORATES IN PHARMACY, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, AND EDUCATION. DURING THE FISCAL YEAR ENDED MAY 31, 2023, FALL STUDENT ENROLLMENT WAS 3,396 AND SPRING STUDENT ENROLLMENT WAS 3,100. THE TOTAL NUMBER OF GRADUATES WAS 814. FINANCIAL AID WAS RECEIVED BY 3,369 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 2,811 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Rhett Brown President | Officer | 40 | $336,902 |
James R Bullock SVP | Officer | 40 | $298,507 |
Benjamin Sidbury SVP General Counsel | Officer | 40 | $273,929 |
Susan P Bruce Dean Of Sop | 40 | $278,433 | |
Heather Campbell Miller SVP Chief Of Staff | Officer | 40 | $241,468 |
Jeffrey Frederick Provost And Evp | Officer | 40 | $246,038 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartwells Higher Education Food Service | 5/30/23 | $6,639,925 |
Eab Education Service | 5/30/23 | $1,833,920 |
Astro Turf Corporation Constr. Contract Svc | 5/30/23 | $1,416,448 |
Hoss Contracting Inc Constr. Contract Svc | 5/30/23 | $1,394,081 |
Ricoh Usa Inc Copier Service | 5/30/23 | $469,093 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,072,231 |
| Investment income | $2,099,710 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $249,750 |
| Net Gain/Loss on Asset Sales | $4,515,372 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $167,389,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $72,486,317 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,145,196 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,892,696 |
| Pension plan accruals and contributions | $1,156,319 |
| Other employee benefits | $6,048,560 |
| Payroll taxes | $2,604,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $183,861 |
| Fees for services: Accounting | $141,164 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $358,234 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,410 |
| Office expenses | $0 |
| Information technology | $1,859,165 |
| Royalties | $0 |
| Occupancy | $2,293,971 |
| Travel | $628,170 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,262,695 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,590,400 |
| Insurance | $391,054 |
| All other expenses | $0 |
| Total functional expenses | $158,565,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,971 |
| Savings and temporary cash investments | $20,954,342 |
| Pledges and grants receivable | $6,649,690 |
| Accounts receivable, net | $2,439,770 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $165,876 |
| Prepaid expenses and deferred charges | $596,612 |
| Investments—publicly traded securities | $101,933,643 |
| Investments—other securities | $1,011,200 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,873,539 |
| Total assets | $294,754,183 |
| Accounts payable and accrued expenses | $8,193,790 |
| Grants payable | $0 |
| Deferred revenue | $4,617,794 |
| Tax-exempt bond liabilities | $65,227,196 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,623,545 |
| Unsecured mortgages and notes payable | $11,847,869 |
| Other liabilities | $0 |
| Total liabilities | $96,510,194 |
| 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 | $198,243,989 |