Voorhees College
- Assets
- $34.8m
- Revenue
- $40.0m
- Investments
- $0.0
- Employees
- 157
- Location
- Denmark, SC
- Founding
- 07/1946
- Data as of
- 06/2021
- EIN
- 57-0329786
Organization Overview
Voorhees College is located in Denmark, SC. The organization was established in 1946. 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, Voorhees College employed 157 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Voorhees 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 06/2021, Voorhees College generated $40.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $17.3m during the year ending 06/2021. While expenses have increased by 3.3% 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
TO OPERATE A TEACHING FACILITY AND PROVIDE HIGHER EDUCATION OPPORTUNITIES TO INTERESTED AND ELIGIBLE INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - EXPENSES FOR ACADEMIC INSTRUCTIONAL DEPARTMENTS OF THE COLLEGE.
STUDENT SERVICE - EXPENSES TO SUPPORT THE STUDENT BODY.
ANCILLARY ENTERPRISES - THE COLLEGES DORMITORIES, DINING SERVICES AND CAMPUS BOOKSTORE ARE THE MAJOR AUXILLARY ENTERPRISES SERVING THE COLLEGE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Hopkins Interim President | Officer | 40 | $156,000 |
V Diane O'berry VP Of Fiscal And Business Affairs | Officer | 40 | $0 |
Traci Young Cooper Vice Chair | Trustee | 5 | $0 |
Dan Martin Trustee | Trustee | 5 | $0 |
Sam Davis Trustee | Trustee | 5 | $0 |
Robert Dodd Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aladdin Food Management Food Services | 6/29/21 | $335,960 |
Allied Universal Security Campus Security | 6/29/21 | $314,411 |
Patriots Management Contractor | 6/29/21 | $452,304 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,583,209 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,138,123 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,721,332 |
| Total Program Service Revenue | $5,703,066 |
| Investment income | $1,886,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,025,778 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,546,879 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $5,464,798 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $378,034 |
| Payroll taxes | $418,057 |
| Fees for services: Management | $498,974 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,903,061 |
| Advertising and promotion | $693,262 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $694,225 |
| Travel | $146,611 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $1,241,860 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $270,456 |
| All other expenses | $2,220,800 |
| Total functional expenses | $17,325,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,381,595 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $849,353 |
| 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 | $140,005 |
| Net Land, buildings, and equipment | $16,505,772 |
| Investments—publicly traded securities | $10,003,894 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $968,537 |
| Total assets | $34,849,156 |
| Accounts payable and accrued expenses | $184,073 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $40,602 |
| Total liabilities | $224,675 |
| Net assets without donor restrictions | $28,455,180 |
| Net assets with donor restrictions | $6,169,301 |
| 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 | $34,849,156 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Voorhees College has recieved totaling $999,830.
| Awarding Organization | Amount |
|---|---|
United Negro College Fund Inc Washington, DC PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $910,770 |
Educational Credit Management Corporation Minneapolis, MN PURPOSE: Project Success Emergency Aid & Food Pantry Assistance | $43,000 |
South Carolina Independent Colleges And Universities Inc Columbia, SC PURPOSE: HIGHER EDUCATION | $20,700 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $17,482 |
Tom Joyner Foundation Inc Dallas, TX PURPOSE: EDUCATION SCHOLARSHIP | $5,500 |
Epiphany Foundation Pittsfield, MA PURPOSE: CHAPLAIN PROGRAM | $2,000 |
Endowment Analysis
| Beg. Balance | $8,081,552 |
| Earnings | $1,973,813 |
| Admin Expense | $87,218 |
| Net Contributions | $35,747 |
| Ending Balance | $10,003,894 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Guilford College Greensboro, NC | $214,106,962 | $54,557,208 |
Covenant College Inc Lookout Mountain, GA | $98,255,603 | $50,724,767 |
Barton College Wilson, NC | $97,394,035 | $47,073,555 |
Reinhardt University Waleska, GA | $120,947,179 | $50,634,912 |
Erskine College Due West, SC | $80,598,505 | $43,903,518 |
Warren Wilson College Asheville, NC | $113,155,084 | $40,910,763 |
Shaw University Raleigh, NC | $72,503,111 | $66,988,324 |
Lagrange College Lagrange, GA | $157,918,154 | $43,354,732 |
Livingstone College Salisbury, NC | $87,006,001 | $42,495,436 |
Lees-Mcrae College Incorporated Banner Elk, NC | $87,696,802 | $41,070,473 |
Point University Inc West Point, GA | $44,703,708 | $34,264,819 |
Montreat College Montreat, NC | $33,516,300 | $39,329,808 |