Oglethorpe University Inc
- Assets
- $134.4m
- Revenue
- $78.8m
- Investments
- $264.5k
- Employees
- 512
- Location
- Atlanta, GA
- Founding
- 01/1936
- Data as of
- 06/2021
- EIN
- 58-0568698
Organization Overview
Oglethorpe University Inc is located in Atlanta, GA. The organization was established in 1936. 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, Oglethorpe University Inc employed 512 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oglethorpe 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, Oglethorpe University Inc generated $78.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $67.3m 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
INSTITUTION OF HIGHER EDUCATION
Describe the Organization's Program Activity:
INSTRUCTION - THE COST OF OFFERING THE ACADEMIC PROGRAMS.
STUDENT SERVICES - THE COSTS OF EXTRACURRICULAR AND STUDENT-ORIENTED SERVICES AND PROGRAMS DESIGNED TO ENHANCE THE LEARNING ENVIRONMENT. DUE TO COVID, PART OF THE FUNDING CAME FROM EMPLOYEE RETENTION CREDITS AND PPP LOAN FORGIVENESS, $3,007,645 AND $2,685,700 RESPECTIVELY.
AUXILIARY SERVICES, THE COSTS OF ACTIVITIES ASSOCIATED WITH THE SUPPORT OF THE CAMPUS AND RESIDENTIAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Lawrence M Schall Former President/ex-Officio | 60 | $460,791 | |
Dr Glenn Sharfman Provost And VP Academic Af | Officer | 40 | $188,726 |
Mr Pete Stobie VP For Business And Financ | Officer | 40 | $183,048 |
Dr Nicholas Ladany President/ex-Officio | Officer | 60 | $168,451 |
Dr Michelle Hall Former VP For Campus Life | 40 | $149,210 | |
Mr J Todd Bennett Former Assoc VP Marketing & Communication | 40 | $134,531 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Services Food Service Vendor | 6/29/21 | $1,698,151 |
Sheridan Construction Construction Services | 6/29/21 | $2,173,426 |
G4s Secure Solutions Campus Safety | 6/29/21 | $419,821 |
National Management Resources Facilities Management | 6/29/21 | $1,484,490 |
Johnson Controls Inc Hvac Control Systems | 6/29/21 | $279,777 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,012,512 |
| Noncash contributions included in lines 1a–1f | $553,734 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,012,512 |
| Total Program Service Revenue | $59,194,815 |
| Investment income | $45,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,845,301 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,096 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,800,641 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $34,748,866 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,114,088 |
| Compensation of current officers, directors, key employees. | $438,517 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,870,163 |
| Pension plan accruals and contributions | $582,162 |
| Other employee benefits | $1,246,235 |
| Payroll taxes | $995,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,510 |
| Fees for services: Accounting | $86,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $133,930 |
| Fees for services: Other | $0 |
| Advertising and promotion | $188,326 |
| Office expenses | $0 |
| Information technology | $1,553,102 |
| Royalties | $0 |
| Occupancy | $771,263 |
| Travel | $353,614 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $279,897 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,293,512 |
| Insurance | $0 |
| All other expenses | $1,345,582 |
| Total functional expenses | $67,329,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,330,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,024,369 |
| Accounts receivable, net | $538,243 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $47,645 |
| Prepaid expenses and deferred charges | $84,683 |
| Net Land, buildings, and equipment | $77,962,228 |
| Investments—publicly traded securities | $46,136,756 |
| Investments—other securities | $264,474 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,057,280 |
| Total assets | $134,446,425 |
| Accounts payable and accrued expenses | $1,673,423 |
| Grants payable | $0 |
| Deferred revenue | $2,001,798 |
| 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 | $8,574,063 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $1,408,211 |
| Total liabilities | $15,657,495 |
| Net assets without donor restrictions | $88,763,288 |
| Net assets with donor restrictions | $30,025,642 |
| 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 | $134,446,425 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Oglethorpe University Inc has recieved totaling $2,059,240.
| Awarding Organization | Amount |
|---|---|
Goizueta Foundation Inc Atlanta, GA PURPOSE: PROGRAM | $1,050,000 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $524,000 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: EDUCATION | $100,180 |
M A@rikard Charitable Trust Nashville, TN PURPOSE: CHARITABLE | $65,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $47,176 |
Fuller E Callaway Professorial Chairs Trust For Dallas, TX PURPOSE: GRANT FOR PROFESSIORAL SALARIES | $38,665 |
Endowment Analysis
| Beg. Balance | $35,722,360 |
| Earnings | $10,315,243 |
| Net Contributions | $1,548,227 |
| Other Expense | $1,395,820 |
| Ending Balance | $46,190,010 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Anderson University Anderson, SC | $269,873,980 | $130,183,026 |
Wofford College Spartanburg, SC | $486,613,567 | $116,076,279 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Ringling College Of Art And Design Inc Sarasota, FL | $401,598,018 | $119,229,866 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |