Palm Beach Atlantic University Inc
- Assets
- $243.9m
- Revenue
- $119.2m
- Investments
- $73.2m
- Employees
- 1,325
- Location
- West Palm Beach, FL
- Founding
- 09/1970
- Data as of
- 06/2021
- EIN
- 59-1092732
Organization Overview
Palm Beach Atlantic University Inc is located in West Palm Beach, FL. The organization was established in 1970. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Palm Beach Atlantic University Inc employed 1,325 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Beach Atlantic 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, Palm Beach Atlantic University Inc generated $119.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $118.8m during the year ending 06/2021. While expenses have increased by 2.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PBA IS A PRIVATE CHRISTIAN UNIVERSITY OFFERING UNDERGRADUATE, GRADUATE & PROFESSIONAL PROGRAMS.
Describe the Organization's Program Activity:
PALM BEACH ATLANTIC UNIVERSITY PROVIDES HIGHER EDUCATION TO APPROXIMATELY 4,133 FULL AND PART-TIME STUDENTS IN 55 UNDERGRADUATE, 9 GRADUATE, AND 3 PROFESSIONAL DEGREE PROGRAMS. CONTINUING EDUCATION, STUDENT HOUSING, A DINING HALL, A BOOKSTORE, AND OTHER AUXILIARY SERVICES ARE PROVIDED FOR THE STUDENTS CONVENIENCE. FINANCIAL AID IS PROVIDED TO APPROXIMATELY 3,162 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Fleming President (former) | 0 | $743,329 | |
Dr Debra A Schwinn President | Officer | 40 | $383,715 |
John Kautz Vice President For Finance | Officer | 40 | $207,842 |
Jeffrey Lewis Dean Of Gregory School Of | 40 | $205,699 | |
Randolph E Richards Provost, Cao | Officer | 40 | $188,463 |
Connie Shepherd Executive VP Strategy & Pl | Officer | 40 | $179,843 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Millenia Lakes Owner I Lp Rent | 6/29/21 | $251,635 |
Love 900 Llc Rent | 6/29/21 | $185,411 |
Timelymd Telehealth Provider | 6/29/21 | $138,960 |
Shutts & Bowen Llp Legal | 6/29/21 | $131,708 |
Templeton & Company Llp Accounting | 6/29/21 | $191,339 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,250 |
| Related organizations | $0 |
| Government grants | $9,513,628 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,092,050 |
| Noncash contributions included in lines 1a–1f | $2,189,378 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,629,928 |
| Total Program Service Revenue | $99,385,955 |
| Investment income | $95,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $90,081 |
| Net Gain/Loss on Asset Sales | $1,009,861 |
| Net Income from Fundraising Events | $2,010 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,213,584 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $41,276,305 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,136,959 |
| Compensation of current officers, directors, key employees. | $1,954,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,932,182 |
| Pension plan accruals and contributions | $1,145,938 |
| Other employee benefits | $6,062,289 |
| Payroll taxes | $2,161,131 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $221,841 |
| Fees for services: Accounting | $232,973 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $138,194 |
| Fees for services: Other | $2,912,341 |
| Advertising and promotion | $1,503,230 |
| Office expenses | $2,960,757 |
| Information technology | $1,975,404 |
| Royalties | $0 |
| Occupancy | $693,325 |
| Travel | $332,828 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,064,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,778,750 |
| Insurance | $2,087,927 |
| All other expenses | $3,250,129 |
| Total functional expenses | $118,783,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,457,047 |
| Savings and temporary cash investments | $3,971,390 |
| Pledges and grants receivable | $25,753,323 |
| Accounts receivable, net | $1,327,505 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,759,768 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,241,763 |
| Net Land, buildings, and equipment | $105,837,432 |
| Investments—publicly traded securities | $965,686 |
| Investments—other securities | $73,152,706 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,446,039 |
| Total assets | $243,912,659 |
| Accounts payable and accrued expenses | $4,324,462 |
| Grants payable | $0 |
| Deferred revenue | $8,085,406 |
| Tax-exempt bond liabilities | $32,101,258 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,854,326 |
| Total liabilities | $57,365,452 |
| Net assets without donor restrictions | $93,449,938 |
| Net assets with donor restrictions | $93,097,269 |
| 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 | $243,912,659 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Palm Beach Atlantic University Inc has recieved totaling $1,820,359.
| Awarding Organization | Amount |
|---|---|
Marshall And Vera Lea Rinker Foundation Inc West Palm Beach, FL PURPOSE: CAPITAL CAMPAIGN - BUSINESS SCHOOL BUILDING | $1,800,359 |
Marshall And Vera Lea Rinker Foundation Inc West Palm Beach, FL PURPOSE: ENDOWMENT FUND - BUSINESS SCHOOL BUILDING | $10,000 |
Palm Beach Gardens Police And Fire Rescue Foundation Inc Palm Beach Gardens, FL PURPOSE: SCHOLARSHIP | $10,000 |
Endowment Analysis
| Beg. Balance | $85,378,000 |
| Earnings | $14,269,000 |
| Admin Expense | $38,749 |
| Net Contributions | $2,732,000 |
| Other Expense | $352,251 |
| Grants | $4,238,000 |
| Ending Balance | $97,750,000 |
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 |