Young Harris College
- Assets
- $174.0m
- Revenue
- $48.1m
- Investments
- $74.7m
- Employees
- 541
- Location
- Young Harris, GA
- Founding
- 04/1942
- Data as of
- 06/2022
- EIN
- 58-0593414
Organization Overview
Young Harris College is located in Young Harris, GA. The organization was established in 1942. 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, Young Harris College employed 541 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Young Harris 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 06/2022, Young Harris College generated $48.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $47.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. 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
IN A WORLD OF CONTINUAL CHANGE, YOUNG HARRIS COLLEGE EDUCATES STUDENTS IN THE LIBERAL ARTS AND PROFESSIONAL PROGRAMS, SERVES BOTH THE REGION AND THE WORLD, AND EMPOWERS ITS GRADUATES TO CREATE AND DEFINE SERVICE, SUCCESSES, AND MEANING THROUGHOUT THEIR LIVES.
Describe the Organization's Program Activity:
INSTRUCTIONAL - FUNDS EXPENDED TO EDUCATE STUDENTS THROUGH A COMPREHENSIVE LIBERAL ARTS BACHELOR'S AND MASTER'S DEGREE PROGRAM DELIVERED THROUGH INNOVATIVE ACADEMIC INSTRUCTION. ENROLLMENT IN 2021-2022 INCLUDED APPROXIMATELY 1,613 STUDENTS. ACADEMIC OFFERINGS INCLUDE ACCOUNTING, ART, BIOLOGY, BUSINESS ADMINISTRATION, CHEMISTRY, COMMUNICATION STUDIES, CREATIVE WRITING, ECONOMICS, ELEMENTARY EDUCATION, ENGLISH, ENVIRONMENTAL EDUCATION AND LEADERSHIP, ENVIRONMENTAL SCIENCE, FINANCE, GRAPHIC DESIGN, HISTORY, INTERDISCIPLINARY STUDIES, MANAGEMENT, MARKETING, MATHEMATICS, MUSIC, MUSIC EDUCATION, MUSICAL THEATRE, OUTDOOR STUDIES, PSYCHOLOGY, PUBLIC POLICY, SPANISH, SPORT AND RECREATION STUDIES, THEATRE PERFORMANCE, THEATRICAL DESIGN AND PRODUCTION, AND A MASTERS OF ARTS IN TEACHING.
STUDENT SERVICES - FUNDS EXPENDED FOR INNOVATIVE PROGRAMS AND SERVICES WHICH CHALLENGE STUDENTS CULTURALLY, ATHLETICALLY AND SPIRITUALLY. THE COLLEGE STRIVES TO RECRUIT AND RETAIN EXCELLENT STUDENTS AND EMPOWER THEM TO REACH THEIR FULL POTENTIAL. THESE EXPENDITURES PROVIDE SUPPORT FOR EXTRACURRICULAR ACTIVITIES AND STUDENT RELATED SERVICES AT THE COLLEGE WHICH ARE ESSENTIAL TO THE STUDENTS' WELL BEING AND CONTRIBUTE TO THE QUALITY OF LIFE OUTSIDE THE FORMAL ACADEMIC PROGRAMS. ALSO, EXPENDITURES FOR STUDENT INVOLVEMENT IN PROJECTS THAT IMPACT THE LOCAL COMMUNITY ARE INCLUDED.EXPENSES $ 6,829,884. INCLUDING GRANTS OF $ 0. REVENUE $ 220,963.AUXILIARY SERVICES - FUNDS EXPENDED FOR MEAL SERVICES, TEXTBOOKS, AND THE OPERATION, REPAIR AND MAINTENANCE OF THE COLLEGE'S RESIDENCE HALLS, CAMPUS CENTER AND DINING HALL, AND RECREATION FACILITY.EXPENSES $ 6,696,618. INCLUDING GRANTS OF $ 0. REVENUE $ 7,908,786.
ACADEMIC SUPPORT - FUNDS EXPENDED TO PROVIDE FACULTY ADMINISTRATION AND SUPPORT, FACULTY DEVELOPMENT OPPORTUNITIES, CURRICULUM ENRICHMENT AND LIBRARY, STUDENT SUPPORT AND ADVISING, TECHNOLOGY, AND RESEARCH AND PLANNING SERVICES. THESE EXPENDITURES ARE INTEGRAL TO THE OPERATION AND SUPPORT OF QUALITY ACADEMIC PROGRAMS AND THE RETENTION AND EMPOWERMENT OF EXCELLENT FACULTY AND STUDENTS. CURRICULUM AND PROGRAM DEVELOPMENT EXPENSES ARE RECORDED IN THIS CATEGORY.
STUDENT FINANCIAL ASSISTANCE - THE COLLEGE IS COMMITTED TO RECRUITING EXCELLENT STUDENTS AND HELPING SECURE THE NECESSARY AND APPROPRIATE RESOURCES TO MEET THE COST OF AN EXCELLENT EDUCATION. THE COMPREHENSIVE STUDENT FINANCIAL ASSISTANCE PROGRAM INCLUDES SCHOLARSHIPS, GRANTS, LOANS, AND PART-TIME CAMPUS EMPLOYMENT. 100% OF THE STUDENTS ENROLLED DURING 2021-2022 RECEIVED SOME FORM OF FINANCIAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Drew L Van Horn President/ex-Officio Trustee | OfficerTrustee | 40 | $258,292 |
Kurt T Momand Board Chair/executive Committee Chair | OfficerTrustee | 1 | $0 |
William A Johnston Vice Board Chair/endowment Committee Chair | OfficerTrustee | 1 | $0 |
Margaret R Buker Secretary/student Affairs Committee Chair | OfficerTrustee | 1 | $0 |
William F Easterlin III Finance Committee Chair | Trustee | 1 | $0 |
Julie D Salisbury Enrollment Management Committee Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc Food And Physical Plant Services | 6/29/22 | $4,137,060 |
Follett Bookstore Operations | 6/29/22 | $551,041 |
Eab Inc Enrollment Consultants | 6/29/22 | $388,464 |
Custom Home Painting Painting | 6/29/22 | $162,700 |
Warren Averett Cpas And Advisors | 6/29/22 | $111,505 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $74,910 |
| Related organizations | $0 |
| Government grants | $4,057,202 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,605,569 |
| Noncash contributions included in lines 1a–1f | $90,252 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,737,681 |
| Total Program Service Revenue | $35,567,062 |
| Investment income | $3,399,563 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,346,221 |
| Net Income from Fundraising Events | -$12,380 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,051,925 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $18,589,695 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,661,045 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $457,505 |
| Compensation of current officers, directors, key employees. | $272,224 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,024,210 |
| Pension plan accruals and contributions | $381,666 |
| Other employee benefits | $1,437,253 |
| Payroll taxes | $701,885 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,849 |
| Fees for services: Accounting | $105,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $806,326 |
| Advertising and promotion | $323,200 |
| Office expenses | $4,222,458 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,872,401 |
| Travel | $801,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $872,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,916,821 |
| Insurance | $440,458 |
| All other expenses | $82,752 |
| Total functional expenses | $47,838,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,076,321 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $121,135 |
| Accounts receivable, net | $1,387,851 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $81,655 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $57,816,864 |
| Investments—publicly traded securities | $36,291,062 |
| Investments—other securities | $74,702,438 |
| Investments—program-related | $1,270,114 |
| Intangible assets | $0 |
| Other assets | $279,167 |
| Total assets | $174,026,607 |
| Accounts payable and accrued expenses | $1,481,964 |
| Grants payable | $0 |
| Deferred revenue | $835,141 |
| 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 | $22,731,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $522,008 |
| Total liabilities | $25,570,946 |
| Net assets without donor restrictions | $54,328,941 |
| Net assets with donor restrictions | $94,126,720 |
| 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 | $174,026,607 |