Presbyterian College
- Assets
- $169.7m
- Revenue
- $88.9m
- Investments
- $32.0m
- Employees
- 769
- Location
- Clinton, SC
- Founding
- 01/1944
- Data as of
- 06/2022
- EIN
- 57-0314408
Organization Overview
Presbyterian College is located in Clinton, SC. The organization was established in 1944. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Presbyterian College employed 769 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Presbyterian College 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, Presbyterian College generated $88.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $75.1m during the year ending 06/2022. While expenses have increased by 2.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
PRESBYTERIAN COLLEGE IS A PRIVATE, RESIDENTIAL, FOUR-YEAR LIBERAL ARTS COLLEGE. WITH SMALL CLASSES AND FACULTY WHO WANT THE BEST FOR STUDENTS, OUR SUPPORTIVE COMMUNITY PROVIDES MORE THAN AN EXCEPTIONAL LIBERAL ARTS EDUCATION. PRESBYTERIAN COLLEGE EMPOWERS STUDENTS TO BE SERVANT LEADERS IN THEIR COMMUNITIES THROUGH CHALLENGING ACADEMICS AND A CULTURE OF HONOR AND ETHICS. PRESBYTERIAN COLLEGE HAS A GRADUATE SCHOOL OF HEALTH SCIENCES WHICH INCLUDES SCHOOL OF PHARMACY, PHYSICIAN ASSISTANT PROGRAM, AND AN OCCUPATIONAL THERAPY DOCTORAL PROGRAM. EACH PROFESSIONAL PROGRAM IS DESIGNED TO IMPROVE THE HEALTH OF SOUTH CAROLINIANS AND SOCIETY IN GENERAL BY DEVELOPING STUDENTS WITH AN UNWAVERING ETHICAL FOUNDATION WHO WILL POSITIVELY IMPACT THE DELIVERY OF QUALITY, EQUITABLE CARE; WHO WILL DEDICATE THEIR LIVES TO COMMUNITY SERVICE; AND WHO WILL PROVIDE LEADERSHIP IN ADDRESSING THE HEALTH CARE NEEDS OF A DIVERSE PATIENT POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Wargo Dean Of Pc School Of Pharmacy | Officer | 40 | $237,235 |
Matthew Vandenberg President | Officer | 39.5 | $266,222 |
Jeffrey Scaccia VP Of Finance & Administration | Officer | 39.5 | $180,138 |
Suzanne Petrusch VP Of Enrollment & Fin. Aid | Officer | 40 | $180,994 |
L Clifton Fuhrman Professor Of Pharmaceutics | 40 | $146,393 | |
F Gregory Mappin Med. Dir. Of Phys. Asst. Prog. | 40 | $132,956 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wyche Pa Legal Fees | 6/29/22 | $178,901 |
Self Medical Group Medical Services | 6/29/22 | $101,596 |
Mcmillan Pazdan Smith Llc Architecture Svcs | 6/29/22 | $114,519 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,401,479 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,815,629 |
| Noncash contributions included in lines 1a–1f | $2,554,608 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,217,108 |
| Total Program Service Revenue | $59,594,656 |
| Investment income | $2,704,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $51,750 |
| Net Gain/Loss on Asset Sales | $6,285,810 |
| Net Income from Fundraising Events | $67 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $87,026 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,923,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $26,038,394 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,034,419 |
| Compensation of current officers, directors, key employees. | $846,769 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,598,736 |
| Pension plan accruals and contributions | $1,067,135 |
| Other employee benefits | $1,898,899 |
| Payroll taxes | $1,461,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $265,791 |
| Fees for services: Accounting | $37,043 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $542,781 |
| Fees for services: Other | $2,576,170 |
| Advertising and promotion | $245,888 |
| Office expenses | $1,412,517 |
| Information technology | $737,924 |
| Royalties | $0 |
| Occupancy | $4,930,913 |
| Travel | $2,266,559 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,612 |
| Interest | $132,239 |
| Payments to affiliates | $2,962,600 |
| Depreciation, depletion, and amortization | $2,209,024 |
| Insurance | $355,249 |
| All other expenses | $575,911 |
| Total functional expenses | $75,068,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,971,543 |
| Savings and temporary cash investments | $20,792,030 |
| Pledges and grants receivable | $8,401,044 |
| Accounts receivable, net | $1,715,992 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $519,824 |
| Inventories for sale or use | $38,386 |
| Prepaid expenses and deferred charges | $441,101 |
| Net Land, buildings, and equipment | $33,215,781 |
| Investments—publicly traded securities | $57,523,814 |
| Investments—other securities | $32,012,522 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,082,616 |
| Total assets | $169,714,653 |
| Accounts payable and accrued expenses | $2,779,639 |
| Grants payable | $0 |
| Deferred revenue | $1,755,213 |
| 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 | $2,409,475 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,310,125 |
| Total liabilities | $10,254,452 |
| Net assets without donor restrictions | $45,072,429 |
| Net assets with donor restrictions | $114,387,772 |
| 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 | $169,714,653 |