Erskine College
- Assets
- $80.6m
- Revenue
- $43.9m
- Investments
- $10.3m
- Employees
- 497
- Location
- Due West, SC
- Founding
- 09/1942
- Data as of
- 06/2021
- EIN
- 57-0314390
Organization Overview
Erskine College, operating under the name Erskine College and Theological Seminary, is located in Due West, SC. The organization was established in 1942. 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, Erskine College and Theological Seminary employed 497 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erskine College and Theological Seminary 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, Erskine College and Theological Seminary generated $43.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $44.9m during the year ending 06/2021. While expenses have increased by 6.1% per year over the past 6 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
CHRISTIAN LIBERAL ARTS COLLEGE AND GRADUATE THEOLOGICAL SEMINARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ERSKINE COLLEGE IS A COMPREHENSIVE, FULLY ACCREDITED, CHRISTIAN COLLEGE AND THEOLOGICAL SEMINARY OFFERING UNDERGRADUATE, MASTER'S, AND DOCTORAL DEGREES TO APPROXIMATELY 1,000 STUDENTS. THE COLLEGE PROGRAM OFFERS 24 BACCALAUREATE MAJORS, AND THE SEMINARY OFFERS 5 MASTER'S DEGREES AND A DOCTOR OF MINISTRY DEGREE. SCHOLARSHIPS ARE AWARDED TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MERIT ALLOWING STUDENTS TO BE EQUIPPED TO FLOURISH AS WHOLE PERSONS FOR LIVES OF SERVICE THROUGH THE PURSUIT OF UNDERGRADUATE LIBERAL ARTS AND GRADUATE THEOLOGICAL EDUCATION IN A CHRIST-CENTERED ENVIRONMENT.THE INSTITUTION CONDUCTED AUXILIARY ENTERPRISES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF, AND THE AT-LARGE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Re Gustafson Jr President | Officer | 45 | $150,750 |
Mr C M Habeger VP Fin/ops, Treasurer | Officer | 45 | $113,062 |
Mrs Ng Jones Assistant Secretary | Officer | 40 | $43,617 |
The Rev Ch Davis Trustee - Chair | OfficerTrustee | 2 | $0 |
Mr Ms Whitehurst Trustee - Vice Chair | OfficerTrustee | 2 | $0 |
Dr Aj Broyles Trustee - Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Campus Services Dining Hall Services | 6/29/21 | $2,445,815 |
Cox Builders Building Construction/ Remodeling | 6/29/21 | $1,807,446 |
Ebsco Subscription Services Library Subscriptions | 6/29/21 | $261,359 |
Aramark Facilities Services Facilities/grounds Maintenance | 6/29/21 | $2,173,849 |
Gaines Mechanical Llc Hvac Contractor | 6/29/21 | $164,823 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $406,754 |
| Government grants | $1,791,963 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,410,730 |
| Noncash contributions included in lines 1a–1f | $53,140 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,609,447 |
| Total Program Service Revenue | $37,062,620 |
| Investment income | $1,102,323 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,019 |
| Net Gain/Loss on Asset Sales | $2,089,109 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,903,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $23,088,041 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $371,318 |
| Compensation of current officers, directors, key employees. | $307,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,002,993 |
| Pension plan accruals and contributions | $78,563 |
| Other employee benefits | $707,227 |
| Payroll taxes | $726,512 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,435 |
| Fees for services: Accounting | $61,500 |
| Fees for services: Lobbying | $958 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $137,566 |
| Fees for services: Other | $0 |
| Advertising and promotion | $101,263 |
| Office expenses | $519,412 |
| Information technology | $157,483 |
| Royalties | $0 |
| Occupancy | $403,198 |
| Travel | $22,278 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $591,633 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,108,281 |
| Insurance | $475,636 |
| All other expenses | $2,484,249 |
| Total functional expenses | $44,944,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $960,181 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $262,245 |
| Accounts receivable, net | $1,488,883 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $131,357 |
| Prepaid expenses and deferred charges | $51,922 |
| Net Land, buildings, and equipment | $26,283,453 |
| Investments—publicly traded securities | $39,562,441 |
| Investments—other securities | $10,318,964 |
| Investments—program-related | $611,123 |
| Intangible assets | $0 |
| Other assets | $927,936 |
| Total assets | $80,598,505 |
| Accounts payable and accrued expenses | $2,246,398 |
| Grants payable | $0 |
| Deferred revenue | $540,161 |
| 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 | $12,457,911 |
| Unsecured mortgages and notes payable | $2,609,500 |
| Other liabilities | $4,280,435 |
| Total liabilities | $22,134,405 |
| Net assets without donor restrictions | $10,023,846 |
| Net assets with donor restrictions | $48,440,254 |
| 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 | $80,598,505 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Erskine College has recieved totaling $626,186.
| Awarding Organization | Amount |
|---|---|
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI PURPOSE: IMPLEMENT APDP | $195,200 |
Gaston Community Foundation Gastonia, NC PURPOSE: GENERAL SUPPORT | $105,000 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI PURPOSE: IMPLEMENT APDP | $97,600 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $94,500 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $50,000 |
South Carolina Independent Colleges And Universities Inc Columbia, SC PURPOSE: HIGHER EDUCATION | $33,804 |
Endowment Analysis
| Beg. Balance | $41,606,072 |
| Earnings | $8,717,634 |
| Net Contributions | $418,493 |
| Other Expense | $1,805,509 |
| Grants | $772,520 |
| Ending Balance | $48,164,170 |
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 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Oglethorpe University Inc Atlanta, GA | $134,446,425 | $78,800,641 |
Claflin University Orangeburg, SC | $159,550,066 | $90,488,927 |
Catawba College Salisbury, NC | $404,243,208 | $275,797,439 |
Benedict College Columbia, SC | $122,453,279 | $61,010,211 |
Piedmont University Inc Demorest, GA | $159,118,905 | $56,789,955 |
North Carolina Wesleyan University Rocky Mount, NC | $65,274,015 | $57,107,518 |
Mars Hill University Mars Hill, NC | $168,863,107 | $54,418,250 |