Stetson University Inc
- Assets
- $684.0m
- Revenue
- $288.5m
- Investments
- $0.0
- Employees
- 2,512
- Location
- DeLand, FL
- Founding
- 05/1943
- Data as of
- 06/2021
- EIN
- 59-0624416
Organization Overview
Stetson University Inc is located in DeLand, FL. The organization was established in 1943. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Stetson University Inc employed 2,512 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stetson 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, Stetson University Inc generated $288.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $246.6m during the year ending 06/2021. While expenses have increased by 2.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION AT STETSON UNIVERSITY IS TO PROVIDE AN EXCELLENT EDUCATION IN A CREATIVE COMMUNITY WHERE LEARNING AND VALUES MEET, AND TO FOSTER IN STUDENTS THE QUALITIES OF MIND AND HEART THAT WILL PREPARE THEM TO REACH THEIR FULL POTENTIAL AS INFORMED CITIZENS OF LOCAL COMMUNITIES AND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL: THE UNIVERSITY PROVIDES HIGH QUALITY EDUCATIONAL SERVICES TO STUDENTS ON THREE DIFFERENT CAMPUSES, SERVING OVER 2,800 UNDERGRADUATE STUDENTS AND APPROXIMATELY 1,300 GRADUATE AND POST-BACCALAUREATE STUDENTS. THE UNIVERSITY IS COMMITTED TO ITS STRONG LIBERAL ARTS HERITAGE, OFFERING OVER 75 MAJOR AND MINOR PROGRAMS IN VARIOUS FIELDS OF STUDY. THE UNIVERSITY OFFERS NUMEROUS GRADUATE DEGREE PROGRAMS, ALONG WITH JURIS DOCTOR, MASTER OF LAWS, AND MASTER OF JURISPRUDENCE DEGREES. THE UNDERGRADUATE STUDENT TO FACULTY RATIO IS 11.7:1; THE DELAND CAMPUS HAS 225 FULL-TIME FACULTY MEMBERS, 95 PERCENT OF WHO HOLD A PH.D. OR EQUIVALENT DEGREES. THE COLLEGE OF LAW CAMPUS HAS 41 FULL-TIME PROFESSORS AND IS SUPPLEMENTED BY OVER 60 EXPERIENCED PRACTITIONERS IN SPECIALIZED AREAS. GRANTS AND SCHOLARSHIPS WERE PROVIDED TO STUDENTS BASED ON TALENT, ACADEMIC, AND ATHLETIC ACHIEVEMENT AND FINANCIAL NEED.
AUXILIARY ENTERPRISES: THE UNIVERSITY AUXILIARY ENTERPRISES ARE FOR THE CONVENIENCE AND BENEFIT OF ITS STUDENTS, FACULTY, AND STAFF. THESE SERVICES INCLUDE A WIDE VARIETY OF STUDENT HOUSING OPTIONS, INCLUDING DORMITORIES AND APARTMENT-STYLE ACCOMMODATIONS. IN ADDITION, THE UNIVERSITY OFFERS FULL ARRAY OF DINING SERVICES, STUDENT CONVENIENCE STORE, AND CAMPUS BOOKSTORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank R Huth Evp And CFO | Officer | 60 | $335,768 |
Christopher F Roellke President/trustee | OfficerTrustee | 70 | $470,193 |
Noel Painter Evp And Provost | Officer | 60 | $291,348 |
Michele Alexandre Dean Of Law School | Officer | 60 | $283,334 |
Rebecca Morgan Professor Of Law | 40 | $269,885 | |
Darryl Wilson Professor Of Law And Associate Dean | 40 | $265,059 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Williams Company Building Division Construction | 6/29/22 | $7,588,858 |
Chartwells Food Services | 6/29/22 | $3,966,441 |
Covid Rapid Labs Llc Testing/medical Services | 6/29/22 | $755,380 |
Harvard Jolly Inc Construction | 6/29/22 | $477,859 |
Lord Aeck Sargent Planning & Design Inc Construction | 6/29/22 | $637,638 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,901,566 |
| Investment income | $10,766,337 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,587 |
| Net Rental Income | $113,099 |
| Net Gain/Loss on Asset Sales | $39,999,857 |
| Net Income from Fundraising Events | $4,707 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $288,494,091 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $110,035,976 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,625,932 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,263,487 |
| Pension plan accruals and contributions | $2,897,020 |
| Other employee benefits | $12,321,445 |
| Payroll taxes | $4,162,138 |
| Fees for services: Management | $1,862 |
| Fees for services: Legal | $257,413 |
| Fees for services: Accounting | $211,760 |
| Fees for services: Lobbying | $344 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,525,736 |
| Fees for services: Other | $3,684,341 |
| Advertising and promotion | $850,649 |
| Office expenses | $4,578,472 |
| Information technology | $3,497,972 |
| Royalties | $0 |
| Occupancy | $9,662,698 |
| Travel | $1,141,289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $186,803 |
| Interest | $5,878,528 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,100,072 |
| Insurance | $2,129,351 |
| All other expenses | $0 |
| Total functional expenses | $246,585,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,665 |
| Savings and temporary cash investments | $66,215,157 |
| Pledges and grants receivable | $16,542,706 |
| Accounts receivable, net | $2,854,130 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,611,042 |
| Inventories for sale or use | $270,352 |
| Prepaid expenses and deferred charges | $2,948,171 |
| Investments—publicly traded securities | $378,375,166 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,583,446 |
| Total assets | $684,046,890 |
| Accounts payable and accrued expenses | $17,123,387 |
| Grants payable | $0 |
| Deferred revenue | $14,861,461 |
| Tax-exempt bond liabilities | $86,007,006 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $137,500 |
| Unsecured mortgages and notes payable | $52,513,596 |
| Other liabilities | $19,686,376 |
| Total liabilities | $190,329,326 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $493,717,564 |