Southeastern University Inc
- Assets
- $136.5m
- Revenue
- $143.0m
- Investments
- $22.4m
- Employees
- 1,898
- Location
- Lakeland, FL
- Founding
- 07/1947
- Data as of
- 05/2022
- EIN
- 59-0722789
Organization Overview
Southeastern University Inc is located in Lakeland, FL. The organization was established in 1947. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Southeastern University Inc employed 1,898 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern 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 05/2022, Southeastern University Inc generated $143.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $131.7m during the year ending 05/2022. While expenses have increased by 6.3% 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
TO PROVIDE EDUCATION IN A CHRIST-CENTERED, STUDENT-FOCUSED ENVIRONMENT.
Describe the Organization's Program Activity:
ASSOCIATED WITH THE ASSEMBLIES OF GOD DENOMINATION, SOUTHEASTERN UNIVERSITY ENROLLS OVER 11,000 STUDENTS, BOTH TRADITIONAL AND NONTRADITIONAL, WHO REPRESENT A VARIETY OF DENOMINATIONS, PERSONAL INTERESTS, BACKGROUNDS, STATES AND COUNTRIES. SOUTHEASTERN UNIVERSITY OFFERS 70 UNDERGRADUATE DEGREE PROGRAMS, 32 GRADUATE PROGRAMS, AND 5 DOCTORAL DEGREES. CLASSES ARE OFFERED IN TRADITIONAL, ONLINE, EXTENSTION SITES AND EVENING FORMATS. GRADUATES ARE ENCOURAGED TO IMPACT CULTURE THROUGH A LIFESTYLE OF EXCELLENCE AND INTEGRITY. SOUTHEASTERN UNIVERSITY'S DEDICATION TO STUDENTS' SPIRITUAL AND INTELLECTUAL GROWTH PROVIDES A FRAMEWORK FOR CHRIST-CENTERED LIVING BOTH IN AND OUTSIDE THE CLASSROOM.TUITION AND FEES IS THE LARGEST PROGRAM OF OUR GROWING STUDENT BODY.
AUXILIARY ENTERPRISES IS THE SECOND LARGEST PROGRAM AS WE CONTINUE TO INVEST IN OUR CAMPUS CULTURE BY OFFERING CAMPUS HOUSING AND FOOD SERVICE OPTIONS TAILORED TO MEET THE MAJORITY OF OUR STUDENTS NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kent Ingle President | OfficerTrustee | 40 | $329,179 |
Dr J Chris Owen Executive Vice President | Officer | 40 | $250,271 |
Jeffrey Spear Left 1221 Former VP Finance/cfo | Officer | 40 | $207,485 |
Roy Rowland IV VP For Enrollment Management | 40 | $198,284 | |
Dennis Ross Professor, Political Science | 40 | $189,332 | |
Dr Bethany Thomas VP For Student Development | 40 | $163,817 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartwells South Region Food Service | 5/30/22 | $5,038,209 |
Wiley Education Services Llc Online Recruiting | 5/30/22 | $3,170,270 |
Jenzabar Inc Software Support | 5/30/22 | $470,785 |
Ultimate Software Software & Support | 5/30/22 | $380,418 |
Alturna Tech Inc Software & Support | 5/30/22 | $375,017 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,802 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,293,852 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,311,654 |
| Total Program Service Revenue | $124,688,048 |
| Investment income | $1,012,826 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,444 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $143,033,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $48,681,160 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,187,814 |
| Compensation of current officers, directors, key employees. | $221,527 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,911,344 |
| Pension plan accruals and contributions | $162,807 |
| Other employee benefits | $4,828,779 |
| Payroll taxes | $2,242,926 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $356,898 |
| Fees for services: Accounting | $78,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $177,422 |
| Fees for services: Investment Management | $84,058 |
| Fees for services: Other | $4,164,515 |
| Advertising and promotion | $1,099,197 |
| Office expenses | $2,304,336 |
| Information technology | $1,997,105 |
| Royalties | $0 |
| Occupancy | $2,014,622 |
| Travel | $1,718,247 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $270,503 |
| Interest | $3,222,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,874,399 |
| Insurance | $1,416,639 |
| All other expenses | $1,203,203 |
| Total functional expenses | $131,732,313 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,449 |
| Savings and temporary cash investments | $5,373,050 |
| Pledges and grants receivable | $2,236,383 |
| Accounts receivable, net | $5,077,565 |
| 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 | $393,120 |
| Net Land, buildings, and equipment | $91,384,771 |
| Investments—publicly traded securities | $9,092,453 |
| Investments—other securities | $22,430,743 |
| Investments—program-related | $22,322 |
| Intangible assets | $0 |
| Other assets | $282,268 |
| Total assets | $136,483,124 |
| Accounts payable and accrued expenses | $6,701,333 |
| Grants payable | $134,948 |
| Deferred revenue | $1,533,525 |
| Tax-exempt bond liabilities | $51,574,800 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $23,034,549 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,635,488 |
| Total liabilities | $86,614,643 |
| Net assets without donor restrictions | $34,709,873 |
| Net assets with donor restrictions | $15,158,608 |
| 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 | $136,483,124 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Southeastern University Inc has recieved totaling $12,083.
| Awarding Organization | Amount |
|---|---|
Hilda Sutton And William D Blanton Charitable Foundation Inc Lakeland, FL PURPOSE: EDUCATIONAL | $7,000 |
Naphcare Charitable Foundation Birmingham, AL PURPOSE: COLLEGE SCHOLARSHIP FOR CHLOE BARNES | $5,083 |
Endowment Analysis
| Beg. Balance | $10,050,766 |
| Earnings | -$261,109 |
| Net Contributions | $677,415 |
| Other Expense | -$26,668 |
| Grants | $194,357 |
| Ending Balance | $10,299,383 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Everglades College Inc Fort Lauderdale, FL | $670,294,753 | $647,335,916 |
Rollins College Winter Park, FL | $852,704,104 | $217,797,924 |
Berry College Inc Mount Berry, GA | $1,445,846,752 | $178,933,031 |
Florida Southern College Lakeland, FL | $276,996,972 | $143,874,205 |
Southeastern University Inc Lakeland, FL | $136,483,124 | $143,033,375 |
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
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 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |
Birmingham-Southern College Birmingham, AL | $106,162,162 | $42,694,906 |