Southeastern University Inc
- Assets
- $133.7m
- Revenue
- $126.3m
- Investments
- $21.8m
- Employees
- 2,121
- Location
- Lakeland, FL
- Founding
- 07/1947
- Data as of
- 05/2023
- 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 05/2023, Southeastern University Inc employed 2,121 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 05/2023, Southeastern University Inc generated $126.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $128.8m during the year ending 05/2023. While expenses have increased by 5.9% 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
2023
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:
SOUTHEASTERN UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION ACCREDITED TO AWARD ASSOCIATE, BACCALAUREATE, MASTERS AND DOCTORATE DEGREES BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS COMMISSION ON COLLEGES. FOR THE YEAR ENDED MAY 31, 2023 THE UNIVERSITY AWARDED 138 ASSOCIATE DEGREES, 936 BACHELOR DEGREES, 36 MASTERS DEGREES AND 60 DOCTORAL DEGREES. TOTAL STUDENT HEADCOUNT FOR FALL OF 2022 WAS 10,044. ITS PICTURESQUE CAMPUS LOCATED IN CENTRAL FLORIDA IS HOME TO 2,239 UNDERGRADUATE STUDENTS, BUT ITS OUTREACH IS GLOBAL, WITH STUDENTS FROM ALL 50 STATES, WASHINGTON D.C, AND 4 U.S. TERRITORIES. INTERNATIONALLY, THE UNIVERSITY IS REPRESENTED IN 65 COUNTRIES WITH 260 TOTAL STUDENTS. FOUNDED BY AND ASSOCIATED WITH THE ASSEMBLIES OF GOD CHRISTIAN DENOMINATION, THE UNIVERSITY SERVES A CULTURALLY DIVERSE STUDENT BODY COMPRISED OF 43.3% ETHNIC MINORITIES AND VARIOUS RELIGIOUS BACKGROUNDS. THROUGH RIGOROUS ACADEMIC PROGRAMS EMPHASIZING CO-CURRICULAR AND EXPERIENTIAL LEARNING; CAMPUS AND COMMUNITY ENGAGEMENT; AND COMMITMENT TO CHRIST-LIKE SPIRITUAL FORMATION, STUDENTS AND ALUMNI ARE ENCOURAGED TO IMPACT CULTURE THROUGH A LIFESTYLE OF EXCELLENCE AND INTEGRITY.
AUXILIARY ENTERPRISES: AN IMPORTANT PART OF SOUTHEASTERN UNIVERSITY'S SERVICE TO ITS STUDENTS IS THE PROVISION OF CONVENIENT, NUTRITIONAL MEALS AND SAFE, COMFORTABLE LIVING ARRANGEMENTS. DURING THE 2022-2023 PROGRAM YEAR, SEU PROVIDED ITS 1,609 RESIDENTIAL AND 650 COMMUTER STUDENTS A VARIETY OF MEAL PLAN OPTIONS AND CAMPUS DINING FACILITIES INCLUDING TUSCANA RISTORANTE, MI CASA CAF, CHICK-FIL-A, PORTICO COFFEEHOUSE, BACKYARD BURGERS, EINSTEIN BROS. BAGELS AND PAPA JOHN'S PIZZA. RESIDENTIAL HOUSING AMENITIES INCLUDED USE OF WASHERS & DRYERS, WEEKLY HOUSEKEEPING SERVICES, WI-FI AND PHONE HOOK-UP, STREAMING SERVICES, AND COMMON AREAS FOR STUDYING AND RECREATION.FULL-TIME, ON-CAMPUS RESIDENT DIRECTORS PROVIDED SUPPORT AND CONNECTION WITH NEEDED RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kent Ingle President | OfficerTrustee | 40 | $451,963 |
Dr J Chris Owen Executive Vice President | Officer | 40 | $317,862 |
Dr Meghan L Griffin Provost/chief Academic Officer | Officer | 40 | $176,495 |
Justin Lathrop VP Strategic Partnerships | 40 | $166,417 | |
Roy Rowland IV VP For Enrollment Management | 40 | $234,264 | |
Dennis Ross Professor, Political Science | 40 | $187,849 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartwell's South Region Food Services | 5/30/23 | $3,352,135 |
Kingsky Flight Academy Llc Academic Services | 5/30/23 | $826,395 |
Eab Global Inc Enrollment Consult | 5/30/23 | $522,243 |
Polk County Sheriff's Office Safety/security | 5/30/23 | $448,849 |
Jenzabar Inc Erp Software | 5/30/23 | $437,964 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $54,022 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,598,709 |
| Noncash contributions included in lines 1a–1f | $148,750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,652,731 |
| Total Program Service Revenue | $122,442,972 |
| Investment income | $488,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $83,380 |
| Net Rental Income | $36,711 |
| Net Gain/Loss on Asset Sales | $101,038 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,271,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,600 |
| Grants and other assistance to domestic individuals. | $43,347,248 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,853,172 |
| Compensation of current officers, directors, key employees. | $1,350,302 |
| Compensation to disqualified persons | $729,430 |
| Other salaries and wages | $38,689,766 |
| Pension plan accruals and contributions | $557,264 |
| Other employee benefits | $2,001,250 |
| Payroll taxes | $2,696,234 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $416,438 |
| Fees for services: Accounting | $90,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,240 |
| Fees for services: Other | $5,230,467 |
| Advertising and promotion | $999,379 |
| Office expenses | $4,425,435 |
| Information technology | $2,213,728 |
| Royalties | $0 |
| Occupancy | $3,420,178 |
| Travel | $2,030,656 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,310,766 |
| Interest | $3,577,573 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,407,939 |
| Insurance | $1,573,145 |
| All other expenses | $0 |
| Total functional expenses | $128,834,464 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,334,101 |
| Savings and temporary cash investments | $1,452,771 |
| Pledges and grants receivable | $1,343,248 |
| Accounts receivable, net | $2,112,172 |
| 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 | $1,049,312 |
| Net Land, buildings, and equipment | $90,009,246 |
| Investments—publicly traded securities | $8,049,353 |
| Investments—other securities | $21,837,884 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,486,521 |
| Total assets | $133,674,608 |
| Accounts payable and accrued expenses | $7,504,417 |
| Grants payable | $18,843 |
| Deferred revenue | $1,487,684 |
| Tax-exempt bond liabilities | $49,542,163 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $22,346,521 |
| Unsecured mortgages and notes payable | $2,594,840 |
| Other liabilities | $2,398,184 |
| Total liabilities | $85,892,652 |
| Net assets without donor restrictions | $33,710,759 |
| Net assets with donor restrictions | $14,071,197 |
| 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 | $133,674,608 |