Edward Waters University Inc
- Assets
- $56.0m
- Revenue
- $46.0m
- Investments
- $842.4k
- Employees
- 361
- Location
- Jacksonville, FL
- Founding
- 05/1949
- Data as of
- 06/2022
- EIN
- 59-1146751
Organization Overview
Edward Waters University Inc, operating under the name Edward Waters College, is located in Jacksonville, FL. The organization was established in 1949. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Edward Waters College employed 361 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edward Waters College 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 06/2022, Edward Waters College generated $46.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $42.8m during the year ending 06/2022. While expenses have increased by 8.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE UNIVERSITY STRIVES TO PREPARE STUDENTS HOLISTICALLY TO ADVANCE IN A GLOBAL SOCIETY THROUGH THE PROVISION OF INTELLECTUALLY STIMULATING PROGRAMS AND AN ENVIRONMENT WHICH EMPHASIZES HIGH MORAL AND SPIRITUAL VALUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUSTAIN A LEARNING COMMUNITY IN WHICH STUDENTS CAN PREPARE ACADEMICALLY, SOCIALLY, AND SPIRITUALLY FOR LEADERSHIP IN A COMPLEX, DIVERSE AND RAPIDLY CHANGING WORLD.
AUXILIARY ENTERPRISES SUPPORT THE UNIVERSITYS MISSION OF PROVIDING QUALITY EDUCATIONAL OPPORTUNITIES. THESE SERVICES INCLUDE BUT ARE NOT LIMITED TO FOOD SERVICE, CAMPUS HOUSING, CAMPUS POST OFFICE, VENDING, CAMPUS STORES AND ATHLETICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Alderman Zachary Faison President | OfficerTrustee | 40 | $289,847 |
Dr Sharron Taylor Burnett Executive Vice President And Chief Operating Officer | Officer | 40 | $170,000 |
Dr Donna Oliver Provost Senior Vice President Of Academic Affairs | Officer | 40 | $140,000 |
Mr Randolph Mitchell Vice President For Finance Administration/business Innovation | Officer | 40 | $127,954 |
Dr Jame'l Hodges Vice President Of Student Success And Engagement | Officer | 40 | $110,000 |
Dr Michael West Vice President For Institutional Effectiveness, Operations, Systems Management, Process Optimization | Officer | 40 | $110,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bush Construction Company Inc Construction Contractor | 6/29/22 | $602,271 |
Stg Contracting Group Construction Contractor | 6/29/22 | $1,552,115 |
Kelly Tours Transportation Services | 6/29/22 | $779,946 |
Division 12 Consulting Construction Contractor | 6/29/22 | $460,666 |
Arrow Security Security Services | 6/29/22 | $648,631 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,193,402 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,329,901 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,523,303 |
| Total Program Service Revenue | $21,306,115 |
| Investment income | $26,675 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,994,382 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,888,416 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,147,801 |
| Compensation of current officers, directors, key employees. | $1,147,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $4,674,663 |
| Total functional expenses | $42,755,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,145,405 |
| Savings and temporary cash investments | $71,635 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,945,573 |
| 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 | $414,772 |
| Net Land, buildings, and equipment | $37,538,461 |
| Investments—publicly traded securities | $3,042,214 |
| Investments—other securities | $842,426 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $56,000,486 |
| Accounts payable and accrued expenses | $6,144,842 |
| Grants payable | $0 |
| Deferred revenue | $242,105 |
| Tax-exempt bond liabilities | $6,957,252 |
| 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 | $0 |
| Total liabilities | $13,344,199 |
| Net assets without donor restrictions | $39,170,643 |
| Net assets with donor restrictions | $3,485,644 |
| 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 | $56,000,486 |