Union College
- Assets
- $84.4m
- Revenue
- $37.0m
- Investments
- $4.5m
- Employees
- 572
- Location
- Barbourville, KY
- Founding
- 04/1959
- Data as of
- 06/2021
- EIN
- 61-0461768
Organization Overview
Union College is located in Barbourville, KY. The organization was established in 1959. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Union College employed 572 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Union 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 06/2021, Union College generated $37.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $32.5m during the year ending 06/2021. While expenses have increased by 8.8% 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
UNION COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE, AFFILIATED WITH THE UNITED METHODIST CHURCH, LOCATED IN THE APPALACHIAN REGION, WITH A FOCUS ON SERVICE TO OTHERS AND THE COMMUNITY.
Describe the Organization's Program Activity:
APPROXIMATELY 1,036 UNDERGRADUATE AND 332 GRADUATE STUDENTS; 292 TOTAL STUDENTS GRADUATED WITH DEGREES IN 2020-2021
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Marcia Hawkins President | Officer | 40 | $155,518 |
Steven Morris Vice President Of Business & Financial Services | Officer | 40 | $95,000 |
Marisa Greer Vice President For Academic Affairs; Dean Of Facul | Officer | 40 | $88,060 |
Brian Strunk Vice President Of Advancement | Officer | 40 | $74,400 |
Tara Cooper Vice President Learning & Information Resources | Officer | 40 | $70,000 |
Tara Hart Vice President Of Enrollment And Student Developme | Officer | 40 | $57,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Management Resources Corp Physical Plant | 6/29/21 | $969,654 |
Synergy Campus Security Systems Security Service | 6/29/21 | $269,430 |
Pioneer College Caterers Food Service | 6/29/21 | $862,131 |
Mills Construction & Consulting Llc Construction Services | 6/29/21 | $102,979 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,697,884 |
| All other contributions, gifts, grants, and similar amounts not included above | $786,101 |
| Noncash contributions included in lines 1a–1f | $43,360 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,483,985 |
| Total Program Service Revenue | $27,713,392 |
| Investment income | $473,641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,355,122 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,026,140 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,763,962 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $628,397 |
| Compensation of current officers, directors, key employees. | $256,277 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,166,502 |
| Pension plan accruals and contributions | $57,300 |
| Other employee benefits | $632,555 |
| Payroll taxes | $532,699 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,165 |
| Fees for services: Accounting | $85,583 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $185,336 |
| Fees for services: Other | $2,662,872 |
| Advertising and promotion | $80,430 |
| Office expenses | $533,850 |
| Information technology | $560,418 |
| Royalties | $0 |
| Occupancy | $870,934 |
| Travel | $375,767 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,200 |
| Interest | $838,312 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,488,613 |
| Insurance | $470,796 |
| All other expenses | $86,403 |
| Total functional expenses | $32,473,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,500,550 |
| Savings and temporary cash investments | $845,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,045,640 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,201,804 |
| Inventories for sale or use | $241,785 |
| Prepaid expenses and deferred charges | $352,209 |
| Net Land, buildings, and equipment | $37,764,231 |
| Investments—publicly traded securities | $34,574,205 |
| Investments—other securities | $4,450,876 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,452,979 |
| Total assets | $84,429,327 |
| Accounts payable and accrued expenses | $1,006,993 |
| Grants payable | $0 |
| Deferred revenue | $88,846 |
| Tax-exempt bond liabilities | $11,560,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,909,669 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $898,191 |
| Total liabilities | $18,463,699 |
| Net assets without donor restrictions | $22,857,308 |
| Net assets with donor restrictions | $43,108,320 |
| 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 | $84,429,327 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Union College has recieved totaling $240,398.
| Awarding Organization | Amount |
|---|---|
Chas E Schell Tr Uw Foundation For Education Cincinnati, OH PURPOSE: PROJECT/PROGRAM SUPPORT | $100,000 |
Margaret Voorhies Haggin Memorial Trust Pittsburgh, PA PURPOSE: GENERAL OPERATING | $60,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $32,000 |
Blue Grass Community Foundation Inc Lexington, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $10,744 |
Jephson Educational Trust Chicago, IL PURPOSE: SCHOLARSHIP | $10,000 |
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX PURPOSE: GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $23,482,391 |
| Earnings | $8,449,456 |
| Net Contributions | $110,533 |
| Other Expense | $1,142,280 |
| Ending Balance | $30,900,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of The Cumberlands Inc Williamsburg, KY | $474,140,732 | $211,155,067 |
National-Louis University Wheeling, IL | $128,972,894 | $126,590,535 |
Franciscan University Of Steubenville Steubenville, OH | $297,369,155 | $157,148,850 |
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Marymount University Arlington, VA | $272,414,108 | $118,614,940 |
Saint Xavier University Chicago, IL | $126,945,077 | $117,823,501 |
Rockhurst University Kansas City, MO | $176,706,478 | $126,555,115 |
University Of Toledo Physicians Clinical Facility Inc Toledo, OH | $66,626,181 | $116,403,876 |
Otterbein University Westerville, OH | $236,973,881 | $106,500,900 |
Dominican University River Forest, IL | $154,609,403 | $111,703,155 |
University Of Evansville Evansville, IN | $383,851,853 | $114,850,213 |
Benedictine University Lisle, IL | $178,325,344 | $99,425,882 |