Truett Mcconnell University Inc
- Assets
- $54.7m
- Revenue
- $32.4m
- Investments
- $4.8m
- Employees
- 463
- Location
- Cleveland, GA
- Founding
- 06/1948
- Data as of
- 06/2021
- EIN
- 58-0531392
Organization Overview
Truett Mcconnell University Inc is located in Cleveland, GA. The organization was established in 1948. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Truett Mcconnell University Inc employed 463 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Truett Mcconnell University Inc 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, Truett Mcconnell University Inc generated $32.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $31.0m during the year ending 06/2021. While expenses have increased by 6.7% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TRUETT MCCONNELL UNIVERSITY IS A CHRISTIAN LIBERAL ARTS INSTITUTION THAT OFFERS 40 UNDERGRADUATE AND 10 GRADUATE DEGREE PROGRAMS FROM IT'S CAMPUS IN CLEVELAND, GEORGIA. THE MISSION IS TO EQUIP STUDENTS TO FULFILL THE GREAT COMMISSION BY FOSTERING A CHRISTIAN WORLDVIEW THROUGH A BIBLICALLY CENTERED EDUCATION IN A FAMILY-FRIENDLY ENVIRONMENT.
Describe the Organization's Program Activity:
INSTRUCTION - THE UNIVERSITY IS BUILT ON THE BELIEF THAT ACADEMIC DISCIPLINES IN THE LIBERAL ARTS CAN BE TAUGHT WITHIN THE CONTEXT OF THE CHRISTIAN FAITH IN ORDER TO PROVIDE YOUNG PEOPLE WITH A HIGH QUALITY EDUCATION WHICH EMPHASIZES WHAT MATTERS MOST: PRINCIPLES, IDEALS, ETHICS, MORALS, AND VALUES. WITH AN ENROLLMENT OF 2,825 CURRENT STUDENTS, TRUETT MCCONNELL UNIVERSITY HAS INCREASED ITS ENROLLMENT BY 41% SINCE 2015. ALSO, THE SCHOOL HAS OBTAINED A FACULTY OF WHICH MORE THAN 60 PERCENT HOLD DOCTORATES IN THEIR RESPECTIVE FIELDS. THE UNIVERSITY OFFERS FORTY ONE UNDERGRADUATE DEGREE AND TEN GRADUATE DEGREE PROGRAMS. TRUETT ONLINE IS A PROGRAM THAT OFFERS STUDENTS THE OPPORTUNITY TO EARN A DEGREE COMPLETELY ONLINE. TRUETT MCCONNELL UNIVERSITY IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS COMMISSION ON COLLEGES (SACSCOC) TO AWARD BACCALAUREATE AND MASTER'S DEGREES.
FINANCIAL AID - HIGHER EDUCATION MAY BE THE MOST IMPORTANT INVESTMENT THAT A PERSON MAKES BECAUSE IT CAN LEAD TO PERSONAL AND PROFESSIONAL SUCCESS. IF TRUETT MCCONNELL OFFERS THE EDUCATION A PERSON IS LOOKING FOR, THEN WE'LL DO ALL WE CAN TO BRING IT WITHIN REACH FINANCIALLY.
AUXILIARY ENTERPRISES - LIVING ON CAMPUS IS AN IMPORTANT PART OF THE OVERALL EDUCATIONAL AND DISCIPLESHIP EXPERIENCE AT TMU. WE ARE COMMITTED TO THE DEVELOPMENT OF STUDENTS INTO DISCIPLES OF CHRIST AND SEEK TO FURTHER THIS GOAL THROUGH LIVING, LEARNING, PLAYING, PRAYING, AND STUDYING GOD'S WORD TOGETHER IN OUR RESIDENCE HALL COMMUNITIES. REGARDLESS OF WHICH RESIDENCE HALL YOU LIVE IN, YOU WILL BECOME PART OF A COMMUNITY COMMITTED TO YOUR CHRISTIAN DISCIPLESHIP AND ACADEMIC SUCCESS. ON-CAMPUS DINING AT TRUETT MCCONNELL IS PROVIDED BY MMI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Emir F Caner President | Officer | 40 | $310,042 |
Mr Chris Eppling VP Student Services | 40 | $139,912 | |
Dr Bradley Reynolds VP Academic Services | 40 | $138,482 | |
Dr Jason Graffagnino VP Finance & Operations | Officer | 40 | $138,284 |
Pastor Vic Fordham Trustee | Trustee | 1 | $0 |
Dr Anthony George Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ksi Consulting Student Insurance | 6/29/21 | $145,000 |
Mmi Dining Systems Campus Dining Services | 6/29/21 | $1,150,129 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,855 |
| Related organizations | $1,210,864 |
| Government grants | $3,263,911 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,341,915 |
| Noncash contributions included in lines 1a–1f | $211,250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,818,545 |
| Total Program Service Revenue | $27,001,261 |
| Investment income | $267,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$670,025 |
| Net Income from Fundraising Events | $10,240 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,427,096 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,093,415 |
| Grants and other assistance to Foreign Orgs/Individuals | $431,762 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $817,880 |
| Compensation of current officers, directors, key employees. | $361,275 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,970,183 |
| Pension plan accruals and contributions | $436,293 |
| Other employee benefits | $1,282,603 |
| Payroll taxes | $542,851 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,090 |
| Fees for services: Accounting | $62,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,109 |
| Fees for services: Other | $32,289 |
| Advertising and promotion | $263,368 |
| Office expenses | $554,633 |
| Information technology | $50,268 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $432,892 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,347,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,654,980 |
| Insurance | $145,937 |
| All other expenses | $1,547,200 |
| Total functional expenses | $30,985,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,448,732 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $550,656 |
| 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 | $37,658,983 |
| Investments—publicly traded securities | $2,676,523 |
| Investments—other securities | $4,809,495 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,508,580 |
| Total assets | $54,652,969 |
| Accounts payable and accrued expenses | $1,078,270 |
| Grants payable | $0 |
| Deferred revenue | $684,510 |
| 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 | $25,449,578 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $419,859 |
| Total liabilities | $27,632,217 |
| Net assets without donor restrictions | $18,017,432 |
| Net assets with donor restrictions | $9,003,320 |
| 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 | $54,652,969 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Truett Mcconnell University Inc has recieved totaling $226,731.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $117,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $40,000 |
Ragan And King Charitable Fdn 10612-9 Las Vegas, NV PURPOSE: GENERAL OPERATING | $30,000 |
George W Strickland Jr Foundationinc Valdosta, GA PURPOSE: GENERAL FUND | $25,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Ty Cobb Foundation Fund Ua Dtd 113053 Orlando, FL PURPOSE: SCHOLARSHIP | $3,000 |
Endowment Analysis
| Beg. Balance | $2,026,503 |
| Earnings | $428,226 |
| Net Contributions | $15,322 |
| Other Expense | $84,442 |
| Ending Balance | $2,385,609 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Greenville University Tigerville, SC | $119,067,807 | $70,918,977 |
Young Harris College Young Harris, GA | $174,387,873 | $47,760,154 |
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Truett Mcconnell University Inc Cleveland, GA | $54,652,969 | $32,427,096 |
Spartanburg Methodist College Spartanburg, SC | $52,317,686 | $26,371,934 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
College Of Central Florida Foundation Inc Ocala, FL | $126,335,396 | $16,814,104 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |