Spalding University
- Assets
- $83.7m
- Revenue
- $44.3m
- Investments
- $0.0
- Employees
- 785
- Location
- Louisville, KY
- Founding
- 03/1974
- Data as of
- 06/2022
- EIN
- 61-0444780
Organization Overview
Spalding University is located in Louisville, KY. The organization was established in 1974. 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, Spalding University employed 785 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spalding University 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, Spalding University generated $44.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $42.2m during the year ending 06/2022. While expenses have increased by 1.7% 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
SPALDING UNIVERSITY IS A CO-EDUCATIONAL, INDEPENDENT INSTITUTION ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS AS A DOCTORAL LEVEL INSTITUTION. THE UNIVERSITY OFFERS PROGRAMS IN BUSINESS, NURSING, OCCUPATIONAL THERAPY, SOCIAL WORK, PSYCHOLOGY, CREATIVE WRITING, EDUCATION AND OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION FOR STUDENTS: AS A DOCTORAL LEVEL INSTITUTION WITH 1,630 STUDENTS, THE UNIVERSITY OFFERS DEGREE PROGRAMS IN HUMANITIES, SOCIAL SCIENCE, HEALTH AND NATURAL SCIENCE, EDUCATION, BUSINESS, AND COMMUNICATION. SOME EXAMPLES OF PROGRAMS OFFERED ARE PSYCHOLOGY, CREATIVE WRITING, NURSING, OCCUPATIONAL THERAPY, ART, SOCIAL WORK, BUSINESS, AND ADVANCED TEACHER EDUCATION.
STUDENT SERVICES: A COMPREHENSIVE SUPPORT SYSTEM FOR STUDENTS FROM INITIAL INQUIRY TO GRADUATION IS AVAILABLE. SERVICES ARE PROVIDED BY THE OFFICES OF ADMISSIONS, FINANCIAL AID, REGISTRAR, BURSAR, CAMPUS DEVELOPMENT AND STUDENT LIFE, AND ATHLETICS. ADDITIONAL STUDENT ENGAGEMENT ACTIVITIES INCLUDE THE STUDENT GOVERNMENT ASSOCIATION, STUDENT-RUN ORGANIZATIONS, AS WELL AS ON-CAMPUS EXTRACURRICULAR AND CULTURAL EVENTS.
ACADEMIC SUPPORT: ORGANIZED ACTIVITIES RELATED TO EDUCATIONAL DEPARTMENTS AIM TO BOLSTER THE ACADEMIC SUCCESS OF STUDENTS BY MEETING THEIR INDIVIDUAL NEEDS. THESE INCLUDE THE LIBRARY, AND THE ACADEMIC RESOURCE CENTER. THE ACADEMIC RESOURCE CENTER SUPPORTS STUDENTS WITH TUTORING AND ADVISING PROGRAMS, A MATH LAB AND WRITING CENTER. ADDITIONAL SUPPORT FOR ENGLISH-LANGUAGE LEARNERS (ELL) AND FIRST-GENERATION COLLEGE STUDENTS IS ALSO OFFERED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Second Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chair (until Sep 2021) | OfficerTrustee | 1 | $0 |
Name Not Listed First Vice Chair, Interim Chair (sep 2021-Nov 2022) | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee (until Nov 2021), Chair (beg Nov 2021) | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee (until May 2022) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schaefer General Contracting Construction | 6/29/22 | $1,522,161 |
Jones Lang & Lasalle Maintenance And Custodial | 6/29/22 | $720,193 |
Ellucian Inc Computer Hosting And Maintenance | 6/29/22 | $425,975 |
Eurest Services Cleaning Services | 6/29/22 | $380,332 |
Paycom Payroll Llc Payroll Services | 6/29/22 | $371,349 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $72,451 |
| Related organizations | $0 |
| Government grants | $4,169,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,980,117 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,221,985 |
| Total Program Service Revenue | $36,176,645 |
| Investment income | $347,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,193 |
| Net Gain/Loss on Asset Sales | $718,682 |
| Net Income from Fundraising Events | -$4,836 |
| Net Income from Gaming Activities | $19,265 |
| Net Income from Sales of Inventory | $28,125 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,315,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,615,010 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $881,384 |
| Compensation of current officers, directors, key employees. | $591,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,669,838 |
| Pension plan accruals and contributions | $627,626 |
| Other employee benefits | $2,030,760 |
| Payroll taxes | $1,300,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,262 |
| Fees for services: Accounting | $114,605 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $96,811 |
| Fees for services: Other | $3,674,349 |
| Advertising and promotion | $586,872 |
| Office expenses | $814,262 |
| Information technology | $1,120,698 |
| Royalties | $0 |
| Occupancy | $1,133,611 |
| Travel | $611,031 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $181,695 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,987,813 |
| Insurance | $271,954 |
| All other expenses | $1,460,033 |
| Total functional expenses | $42,181,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,475,405 |
| Savings and temporary cash investments | $7,180,784 |
| Pledges and grants receivable | $1,150,865 |
| Accounts receivable, net | $544,033 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $849,527 |
| Inventories for sale or use | $12,607 |
| Prepaid expenses and deferred charges | $729,162 |
| Net Land, buildings, and equipment | $47,646,631 |
| Investments—publicly traded securities | $21,639,013 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,462,409 |
| Total assets | $83,690,436 |
| Accounts payable and accrued expenses | $3,504,642 |
| Grants payable | $0 |
| Deferred revenue | $816,519 |
| Tax-exempt bond liabilities | $0 |
| 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 | $7,183,404 |
| Other liabilities | $2,096,974 |
| Total liabilities | $13,601,539 |
| Net assets without donor restrictions | $40,612,470 |
| Net assets with donor restrictions | $29,476,427 |
| 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 | $83,690,436 |