Thomas University Inc
- Assets
- $24.7m
- Revenue
- $19.8m
- Investments
- $6.3m
- Employees
- 403
- Location
- Thomasville, GA
- Founding
- 02/1955
- Data as of
- 05/2023
- EIN
- 58-0644897
Organization Overview
Thomas University Inc is located in Thomasville, GA. The organization was established in 1955. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Thomas University Inc employed 403 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thomas 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 05/2023, Thomas University Inc generated $19.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $20.1m during the year ending 05/2023. While expenses have increased by 2.0% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THOMAS UNIVERSITY IS AN INDEPENDENT, NOT FOR PROFIT, INSTITUTION OF HIGHER EDUCATION WITH UNDERGRADUATE AND GRADUATE PROGRAMS THAT PREPARE STUDENTS FOR SUCCESSFUL CAREERS AND RESPONSIBLE CITIZENSHIP IN A RAPIDLY CHANGING AND COMPLEX WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY EXEMPT PURPOSE OF THOMAS UNIVERSITY IS TO PROVIDE EDUCATIONAL AND GENERAL INSTRUCTION SERVICES THROUGH A DYNAMIC LEARNING ENVIRONMENT. INNOVATIVE MODELS FOR REACHING LEARNERS BY FACULTY AND STAFF. OFFERING ASSOCIATE'S, BACHELOR'S, AND MASTER'S DEGREES, OUR HIGHEST GOAL IS TO PROVIDE AN EDUCATIONAL EXPERIENCE THAT EXPLORES AND DEVELOPS EACH STUDENT'S FULL POTENTIAL. NUMBER OF GRADUATES FOR THE FISCAL YEAR: 563
STUDENT SERVICES - A THOMAS UNIVERSITY EDUCATION INCLUDES CURRICULAR AND CO-CURRICULAR EXPERIENCES WHICH INCREASE THE TRAJECTORY OF A STUDENT'S DEVELOPMENT SOCIALLY, PHYSICALLY, CULTURALLY, AND INTELLECTUALLY. AS A RESULT, THE OVERALL STUDENT EXPERIENCE IS ONE WHICH GIVES STUDENTS THE OPPORTUNITY TO TEST THE THEORETICAL IN REAL WORLD APPLICATIONS, THUS PREPARING THEM FOR LIFE BEYOND HIGHER EDUCATION. THESE SERVICES INCLUDE ATHLETICS, PLACEMENT REGISTRAR, FINANCIAL AID, SECURITY, BUSINESS OFFICE AND OTHER SUPPORT TO CURRENT AND FORMER STUDENTS. ENROLLED STUDENTS MAY BECOME INVOLVED IN ONE OF THE MANY DIFFERENT STUDENT ORGANIZATIONS.
THE UNIVERSITY CONDUCTED AUXILIARY PROGRAMS FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF, AND THE AT-LARGE COMMUNITY. THESE PROGRAMS CONSIST OF STUDENT HOUSING, FOOD SALES, AND ATHLETIC CAMPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Richard Comstock Trustee | Trustee | 1 | $0 |
Mr Rankin Smith Trustee | Trustee | 1 | $0 |
Mr Bryant Beadles Trustee | Trustee | 1 | $0 |
Mr Phillip Davis Trustee | Trustee | 1 | $0 |
Mr Gene Lord Trustee | Trustee | 1 | $0 |
Mr Vincent Hill Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barber Contracting Company | 5/30/23 | $744,045 |
Platinum Roofing Solutions Llc | 5/30/23 | $144,658 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,798,972 |
| All other contributions, gifts, grants, and similar amounts not included above | $964,031 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,763,003 |
| Total Program Service Revenue | $16,828,719 |
| Investment income | $181,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,594 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,778,605 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,589,249 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $955,304 |
| Compensation of current officers, directors, key employees. | $621,023 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,717,040 |
| Pension plan accruals and contributions | $314,409 |
| Other employee benefits | $959,929 |
| Payroll taxes | $640,381 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $245,579 |
| Office expenses | $374,069 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $416,461 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $232,874 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $784,905 |
| Insurance | $31,522 |
| All other expenses | $2,042,507 |
| Total functional expenses | $20,142,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,918,316 |
| Savings and temporary cash investments | $42,558 |
| Pledges and grants receivable | $159,636 |
| Accounts receivable, net | $844,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $58,763 |
| Prepaid expenses and deferred charges | $11,093 |
| Net Land, buildings, and equipment | $15,242,386 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,310,196 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $152,434 |
| Total assets | $24,739,402 |
| Accounts payable and accrued expenses | $987,234 |
| Grants payable | $0 |
| Deferred revenue | $243,673 |
| 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 | $4,550,937 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $187,459 |
| Total liabilities | $5,969,303 |
| Net assets without donor restrictions | $14,242,942 |
| Net assets with donor restrictions | $4,527,157 |
| 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 | $24,739,402 |