Voorhees University
- Assets
- $34.3m
- Revenue
- $26.7m
- Investments
- $0.0
- Employees
- 206
- Location
- Denmark, SC
- Founding
- 07/1946
- Data as of
- 06/2022
- EIN
- 57-0329786
Organization Overview
Voorhees University 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 06/2022, Voorhees University employed 206 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Voorhees 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 06/2022, Voorhees University generated $26.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $28.3m during the year ending 06/2022. While expenses have increased by 16.1% per year over the past 4 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
2022
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 SERVICES - EXPENSES TO PROVIDE ENSURE ADEQUATE SERVICES AND ACTIVITIES ARE OFFERED TO THE STUDENT BODY.
AUXILIARY ENTERPRISES - INCLUDE RESIDENCE HALLS, FOOD SERVICES, INTERCOLLEGIATE ATHLETICS, COLLEGE UNION, COLLEGE BOOKSTORE, AND FACULTY AND STAFF PARKING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Hopkins President | Officer | 40 | $187,200 |
Damara Hightower Mitchell Provost And VP Of Academic Affairs | Officer | 40 | $161,250 |
Tondaleya G Jackson Director | Officer | 40 | $101,249 |
Traci Young Cooper Trustee | Trustee | 5 | $0 |
Sam Davis Trustee | Trustee | 5 | $0 |
Sam Ntewusu Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Institution For Organizational Coherence Program Consultant | 6/29/22 | $648,750 |
Emperial Builders Construction | 6/29/22 | $420,116 |
South Pointe Roofing Construction | 6/29/22 | $3,061,911 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,353,071 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,666,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,019,412 |
| Total Program Service Revenue | $6,814,851 |
| Investment income | $0 |
| 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 | $26,684,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,487,970 |
| 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 | $6,759,682 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $346,517 |
| Payroll taxes | $517,115 |
| Fees for services: Management | $165,225 |
| 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 | $4,258,638 |
| Advertising and promotion | $0 |
| Office expenses | $1,343,018 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $846,957 |
| Travel | $527,723 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $1,317,076 |
| Insurance | $267,240 |
| All other expenses | $1,098,240 |
| Total functional expenses | $28,337,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,117,986 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,320,027 |
| 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 | $99,457 |
| Net Land, buildings, and equipment | $17,672,773 |
| Investments—publicly traded securities | $9,039,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,250,113 |
| Accounts payable and accrued expenses | $946,147 |
| 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 | $333,141 |
| Total liabilities | $1,279,288 |
| Net assets without donor restrictions | $32,970,825 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $34,250,113 |