Truett Mcconnell University Inc
- Assets
- $53.0m
- Revenue
- $32.9m
- Investments
- $3.9m
- Employees
- 458
- Location
- Cleveland, GA
- Founding
- 06/1948
- Data as of
- 06/2022
- 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 06/2022, Truett Mcconnell University Inc employed 458 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 06/2022, Truett Mcconnell University Inc generated $32.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $33.1m during the year ending 06/2022. While expenses have increased by 6.7% 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
TRUETT MCCONNELL UNIVERSITY IS A CHRISTIAN LIBERAL ARTS INSTITUTION THAT OFFERS 40 UNDERGRADUATE AND 10 GRADUATE DEGREE PROGRAMS FROM ITS CAMPUS IN CLEVELAND, GEORGIA. THE MISSION IS TO EQUIP STUDENTS TO FULFILL THE GREAT COMISSION BY FOSTERING A CHRISTIAN WORLDVIEW THROUGH A BIBLICALLY CENTERED EDUCATION IN A FAMILY-FRIENDLY ENVIRONMENT.
Describe the Organization's Program Activity:
INSTRUCTION - OUR MOTTO, THE TRUTH MATTERS TO A GREATER DEGREE. FOR OVER 75 YEARS, TRUETT MCCONNELL UNIVERSITY HAS PREPARED GENERATIONS OF STUDENTS, FROM OUR 256-ACRE MOUNTAINSIDE CAMPUS. WE'VE DONE IT THE SAME WAY ALL THESE YEARS . . . TEACHING THE BIBLE AS THE TIMELESS, INERRANT, AND ABSOLUTE TRUTH; SUFFICIENT FOR WAYFINDING AND SENSEMAKING IN THIS LIFE WITH CERTAINTY! THAT IS THE VERY DEFINITION OF HIGHER EDUCATION. AT TMU, STUDENTS ARE CHALLENGED TO FEARLESSLY LIVE OUT THEIR FAITH AS THEY ARE LEARNING, GROWING, AND BECOMING WHO GOD MEANT FOR THEM TO BE. GUIDED BY PROFESSORS WITH A WEALTH OF ACADEMIC EXPERTISE, BIBLICAL KNOWLEDGE, AND SPIRITUAL GUIDANCE, OUR STUDENTS RECEIVE A ONE-OF-A-KIND EDUCATION THAT IS FOCUSED AROUND THESE FOUR PILLARS: LOVE THE LORD, LOVE HIS WORD, LOVE THE CHURCH AND LOVE THE LOST. WE ARE BLESSED TO HAVE NINE INDEPENDENT SCHOOLS WITHIN OUR UNIVERSITY WITH AN ABUNDANCE OF DEGREE PROGRAMS FOR ALL OUR STUDENTS. DURING 2021-2022 TMU CONFERRED 152 GRADUATE AND UNDERGRADUCATE DEGREES.
ACADEMIC SUPPORT - ACADEMIC SERVICES INCLUDE THE ACADEMIC DEAN'S OFFICE, COFER LIBRARY, INSTITUTIONAL EFFECTIVENESS, QUALITY ENHANCEMENT, SPECIAL SUPPORT SERVICES AND TUTORING SERVICES IN ENGLISH AND MATH. ACADEMIC SERVICES ARE DESIGNATED TO ENHANCE THE OVERALL ACADEMIC ENVIRONMENT AND TO STRENGTHEN THE DEVELOPMENT OF STUDENT LEARNING SKILLS IN AREAS THAT ARE BASIC TO COLLEGE SUCCESS.STUDENT LIFE - THE STUDENT LIFE PROGRAM IS AN IMPORTANT PART OF THE EDUCATIONAL EXPERIENCE OF THE STUDENT. TRUETT MCCONNELL UNIVERSITY ENCOURAGES GROWTH OF THE WHOLE PERSON. TO THAT END, THE UNIVERSITY OFFERS A VARIETY OF SERVICES TO SUPPORT STUDENT SUCCESS, AS WELL AS PROGRAMS DESIGNATED TO DEVELOP LIFE SKILLS AND SERVICE TO GOD AND TO OTHERS. STUDENT LIFE SERVICES INCLUDE THE REGISTRAR, FINANCIAL AID, ADMISSIONS, INTERCOLLEGIATE ATHLETICS, CHAPEL, STUDENT ACTIVITIES, EVENTS AND ORGANIZATIONS.THE GEORGE BLAUROCK STUDENT WELLNESS CENTER IS THE NEWEST FACILITY ON CAMPUS. IT FEATURES A WALKING TRACK, A FITNESS CENTER, A LEISURE POOL, TWO RACQUETBALL COURTS, THREE FULL BASKETBALL COURTS AND AN AEROBICS CLASSROOM FOR STUDENTS, FACULTY AND STAFF TO ENJOY. WITH STATE-OF-THE-ART FITNESS EQUIPMENT AND HELPFUL STAFF, THE FACILITY OFFERS A WIDE RANGE OF OPPORTUNITIES FOR A HEALTHIER LIFESTYLE. IT IS ALSO A CENTRAL PLACE TO ENJOY CAMPUS COMMUNITY.
FINANCIAL AID - AT TRUETT MCCONNELL UNIVERSITY, 100% OF ALL FIRST-TIME FRESHMEN RECEIVE FINANCIAL AID. TMU IS COMMITTED TO PROVIDING A QUALITY EDUCATIONAL EXPERIENCE TO STUDENTS FROM ALL ECONOMIC BACKGROUNDS. THE COST OF ATTENDING COLLEGE CAN BE A BIT OVERWHELMING BUT THE BIBLICALLY-CENTERED, QUALITY, FIRSTHAND EDUCATIONAL EXPERIENCE IS PRICELESS. IF TMU OFFERS THE EDUCATION A PERSON IS LOOKING FOR, THEN WE WILL DO ALL WE CAN TO BRING IT WITHIN REACH.
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. WE SEEK TO BUILD GOD-HONORING COMMUNITIES THAT BOTH CHALLENGE AND SUPPORT RESIDENTS, AS WELL AS BUILD AND STRENGTHEN RELATIONSHIPS. 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 DINING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Matt Brady Trustee | Trustee | 1 | $0 |
Dr Anthony George Trustee | Trustee | 1 | $0 |
Mr Keith Kelly Trustee | Trustee | 1 | $0 |
Mr Weyman Perry Trustee | Trustee | 1 | $0 |
Rey Micah Hamrick Trustee | Trustee | 1 | $0 |
Dr Chris Winford Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mmi Dining Systems Campus Dining Services | 6/29/21 | $1,150,129 |
Ksi Consulting Student Insurance | 6/29/21 | $145,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,430 |
| Related organizations | $1,237,218 |
| Government grants | $2,104,716 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,520,191 |
| Noncash contributions included in lines 1a–1f | $28,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,880,555 |
| Total Program Service Revenue | $27,602,711 |
| Investment income | $391,950 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20 |
| Net Income from Fundraising Events | -$6,822 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,868,414 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,355,218 |
| Grants and other assistance to Foreign Orgs/Individuals | $774,932 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $416,160 |
| Compensation of current officers, directors, key employees. | $274,456 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,632,558 |
| Pension plan accruals and contributions | $317,893 |
| Other employee benefits | $2,676,649 |
| Payroll taxes | $459,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,527 |
| Fees for services: Accounting | $63,215 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,649 |
| Fees for services: Other | $152,358 |
| Advertising and promotion | $334,815 |
| Office expenses | $618,800 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $825,046 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,321,338 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,751,961 |
| Insurance | $152,358 |
| All other expenses | $616,549 |
| Total functional expenses | $33,069,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,866,036 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $522,304 |
| 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 | $37,746,347 |
| Investments—publicly traded securities | $2,573,819 |
| Investments—other securities | $3,894,595 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,392,729 |
| Total assets | $52,995,830 |
| Accounts payable and accrued expenses | $936,480 |
| Grants payable | $0 |
| Deferred revenue | $684,401 |
| 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 | $25,293,595 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $328,213 |
| Total liabilities | $27,242,689 |
| Net assets without donor restrictions | $17,444,627 |
| Net assets with donor restrictions | $8,308,514 |
| 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 | $52,995,830 |