Thomas More University Inc
- Assets
- $77.0m
- Revenue
- $65.9m
- Investments
- $0.0
- Employees
- 797
- Location
- Crestview Hills, KY
- Founding
- 03/1946
- Data as of
- 05/2022
- EIN
- 61-0448560
Organization Overview
Thomas More University Inc is located in Crestview Hills, KY. The organization was established in 1946. 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, Thomas More University Inc employed 797 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Thomas More 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, Thomas More University Inc generated $65.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $59.6m during the year ending 05/2022. While expenses have increased by 5.2% 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
TO DEVELOP AND SUSTAIN CHALLENGING UNDERGRADUATE, GRADUATE, AND PROFESSIONAL PROGRAMS OF STUDY, MARKED BY SUPERIOR TEACHING AND SCHOLARSHIP WITHIN THE CATHOLIC INTELLECTUAL TRADITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR 100 YEARS, THOMAS MORE HAS CREATED A UNIVERSITY FOR THE STUDENT WHO WANTS TO BE MORE, DO MORE, SEEK MORE, WIN MORE, ACHIEVE MORE, AND CREATE MORE. SINCE ITS FOUNDING IN 1921, THOMAS MORE HAS PROVIDED A MISSION-DRIVEN, LIBERAL ARTS EDUCATION THAT IS BASED IN THE CATHOLIC INTELLECTUAL TRADITION. STUDENTS LEARN TO HARNESS THE POWER OF HUMAN REASON TO SOLVE PROBLEMS AND DISCOVER TRUTH, WHICH ALLOWS THEM TO BEGIN THE JOURNEY TO BECOME THE PERSON THEY WERE CREATED TO BE. ENTERING INTO THE SECOND CENTURY, IT'S TIME FOR MORE. SERVING APPROXIMATELY 2,000 STUDENTS, THOMAS MORE ASPIRES TO BE THE PREMIER CATHOLIC UNIVERSITY IN THE CINCINNATI AND NORTHERN KENTUCKY REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Joseph L Chillo President | OfficerTrustee | 37.5 | $324,158 |
Dr Molly Smith Provost | 37.5 | $153,177 | |
Dr Kevin P Reynolds VP Institutional Advancement | 37.5 | $128,936 | |
Mark Goshorn CFO | Officer | 37.5 | $105,806 |
Dr Angela C Crawford VP Digital, Graduate & Professional | 37.5 | $103,881 | |
Rob Munson CFO (retired June 2021) | Officer | 37.5 | $81,635 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Services Food Services | 5/30/22 | $1,304,287 |
Jenzabar It Service/software | 5/30/22 | $1,049,681 |
Eab Global Inc Recruiting Consultant | 5/30/22 | $517,875 |
A Book Company Llc Book Rental | 5/30/22 | $798,551 |
National Management Resources Co Maintenance Services | 5/30/22 | $1,013,704 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $71,278 |
| Related organizations | $0 |
| Government grants | $4,212,134 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,836,517 |
| Noncash contributions included in lines 1a–1f | $165,289 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,119,929 |
| Total Program Service Revenue | $51,174,375 |
| Investment income | $549,664 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $493,668 |
| Net Gain/Loss on Asset Sales | $1,594,902 |
| Net Income from Fundraising Events | -$14,821 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,917,717 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $24,053,615 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,746,652 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,739,212 |
| Payroll taxes | $1,366,450 |
| 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 | $4,782,625 |
| Advertising and promotion | $1,061,096 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $229,546 |
| Travel | $738,451 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $868,004 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,692,334 |
| Insurance | $585,097 |
| All other expenses | $964,653 |
| Total functional expenses | $59,641,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,590,727 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,015,096 |
| Accounts receivable, net | $2,545,685 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,186,398 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,089,741 |
| Net Land, buildings, and equipment | $30,060,809 |
| Investments—publicly traded securities | $32,471,985 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $76,960,441 |
| Accounts payable and accrued expenses | $2,538,518 |
| Grants payable | $0 |
| Deferred revenue | $944,773 |
| 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 | $15,742,302 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $397,807 |
| Total liabilities | $19,623,400 |
| Net assets without donor restrictions | $21,792,503 |
| Net assets with donor restrictions | $35,544,538 |
| 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 | $76,960,441 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Thomas More University Inc has recieved totaling $3,801,821.
| Awarding Organization | Amount |
|---|---|
St Elizabeth Medical Center Inc Edgewood, KY PURPOSE: Program Support | $3,058,060 |
R C Durr Foundation Inc Covington, KY PURPOSE: GENERAL SUPPORT | $330,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $297,471 |
The Duke Energy Foundation Charlotte, NC PURPOSE: CLIMATE RESILIENCY | $20,000 |
Chas And Ruth Seligman Family Foundation Inc Walton, KY PURPOSE: UNRESTRICTED CHARITABLE GIFT | $20,000 |
Horizon Community Funds Of Northern Kentucky Inc Covington, KY PURPOSE: General Support | $20,000 |
Endowment Analysis
| Beg. Balance | $36,775,629 |
| Earnings | -$2,565,125 |
| Net Contributions | $1,123,962 |
| Other Expense | $542,422 |
| Grants | $524,059 |
| Ending Balance | $34,267,985 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
Ohio Wesleyan University Delaware, OH | $522,945,081 | $119,149,215 |
Trine University Inc Angola, IN | $221,741,150 | $121,889,140 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Saint Marys College Notre Dame, IN | $523,384,557 | $143,002,673 |
Taylor University Upland, IN | $297,240,119 | $122,251,609 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Wittenberg College Board Of Directors Springfield, OH | $198,135,859 | $89,178,248 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |