Southern Methodist College
- Assets
- $837.1k
- Revenue
- $152.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Orangeburg, SC
- Founding
- 07/1978
- Data as of
- 05/2022
- EIN
- 57-0650419
Organization Overview
Southern Methodist College is located in Orangeburg, SC. The organization was established in 1978. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Southern Methodist College employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Methodist 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 05/2022, Southern Methodist College generated $152.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $116.5k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (15.0%) per year over the past 7 years. 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
THE COLLEGE'S MISSION IS TO EDUCATE STUDENTS WITH AN EMPHASIS ON CHRISTIAN EDUCATION AND PREPARATION OF STUDENTS FOR MINISTRY IN THE SOUTHERN METHODIST CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHERN METHODIST COLLEGE'S PURPOSE IS TO EDUCATE STUDENTS WITH AN EMPHASIS ON CHRISTIAN EDUCATION AND PREPARATION OF STUDENTS FOR MINISTRY IN THE SOUTHERN METHODIST CHURCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Rick Pigott Member At Large | OfficerTrustee | 1 | $0 |
Mr Woody Gregory Chairman | OfficerTrustee | 1 | $0 |
Mr Paul Van Loenen Secretary | OfficerTrustee | 1 | $0 |
Rev George Somervell Treasurer | OfficerTrustee | 1 | $0 |
Rev Ellison Evans Vice Chairman | OfficerTrustee | 1 | $0 |
Rev Damon Heinrich Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,684 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $96,085 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,769 |
| Total Program Service Revenue | $14,098 |
| Investment income | $18,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,511 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $152,801 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,800 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $25,660 |
| Compensation of current officers, directors, key employees. | $25,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,266 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,151 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $498 |
| Advertising and promotion | $0 |
| Office expenses | $5,275 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,173 |
| Travel | $13 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,238 |
| Insurance | $0 |
| All other expenses | $253 |
| Total functional expenses | $116,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,036 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $988 |
| 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 | $0 |
| Net Land, buildings, and equipment | $352,747 |
| Investments—publicly traded securities | $346,863 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,473 |
| Total assets | $837,107 |
| Accounts payable and accrued expenses | $2,356 |
| 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 | $0 |
| Total liabilities | $2,356 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $834,751 |
| Total liabilities and net assets/fund balances | $837,107 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Southern Methodist College has recieved totaling $26,953.
| Awarding Organization | Amount |
|---|---|
Murden Rickenbacker Hugginscharitable Foundation Cayce, SC PURPOSE: CHARITABLE | $13,922 |
Chatlos Foundation Inc New York, NY PURPOSE: FOR SCHOLARSHIPS TO ASSIST STUDENTS | $10,000 |
Special People In Need Chicago, IL PURPOSE: GENERAL | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $31 |
Endowment Analysis
| Beg. Balance | $363,482 |
| Ending Balance | $363,482 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
University Of Mount Olive Inc Mount Olive, NC | $83,720,864 | $62,113,692 |
Limestone University Gaffney, SC | $91,111,811 | $48,905,633 |
Newberry College Newberry, SC | $69,782,907 | $54,024,496 |
Guilford College Greensboro, NC | $214,106,962 | $54,557,208 |