Fisk University
- Assets
- $175.1m
- Revenue
- $54.5m
- Investments
- $30.8m
- Employees
- 462
- Location
- Nashville, TN
- Founding
- 11/1934
- Data as of
- 06/2021
- EIN
- 62-0202000
Organization Overview
Fisk University is located in Nashville, TN. The organization was established in 1934. 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, Fisk University employed 462 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fisk 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 06/2021, Fisk University generated $54.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $42.5m during the year ending 06/2021. While expenses have increased by 0.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FISK UNIVERSITY PRODUCES GRADUATES FROM DIVERSE BACKGROUNDS WITH THE INTEGRITY AND INTELLECT REQUIRED FOR SUBSTANTIVE CONTRIBUTIONS TO SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION ANDPROVIDES INSTRUCTION SCHOLARSHIPS AND VARIOUS SUPPORTSERVICES IN ACHIEVING ITS PRIMARY PURPOSE OF EDUCATINGSTUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Darnell Rome President | Officer | 40 | $339,405 |
Jens Frederiksen Sr. VP For Instit. Adv. & Enrollment Mgt. | Officer | 40 | $195,215 |
Willie M Hughey Vice President For Finance | Officer | 40 | $193,019 |
Vann R Newkirk Sr PHD President | OfficerTrustee | 40 | $192,007 |
Arnold Burger Professor | 40 | $167,583 | |
Sajid Hussain Associate Vice Provost For | 40 | $125,769 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thompson Facility Services Facility Servicing | 6/29/19 | $2,150,484 |
Thompson Hospitality Food Services | 6/29/19 | $1,608,755 |
Meritain Health Insurance | 6/29/19 | $375,944 |
Nashville Electric Service Construction | 6/29/19 | $827,152 |
Midsouth Construction Construction | 6/29/19 | $358,165 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,735,620 |
| Investment income | $552,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,083,629 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,477,071 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $11,231,267 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,132,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,557,334 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,112,477 |
| 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 | $2,568,102 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $1,340,557 |
| Royalties | $0 |
| Occupancy | $4,096,397 |
| Travel | $61,532 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,341,986 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,660,335 |
| Insurance | $352,441 |
| All other expenses | $0 |
| Total functional expenses | $42,507,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,096,463 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $14,002,132 |
| Accounts receivable, net | $11,247,621 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $39,291 |
| Inventories for sale or use | $190,731 |
| Prepaid expenses and deferred charges | $735,451 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,803,824 |
| Investments—program-related | $83,794,238 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $175,139,464 |
| Accounts payable and accrued expenses | $1,665,549 |
| Grants payable | $0 |
| Deferred revenue | $1,738,834 |
| 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 | $15,516,305 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $307,689 |
| Total liabilities | $19,228,377 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $155,911,087 |
Grants Recieved
Over the last fiscal year, we have identified 57 grants that Fisk University has recieved totaling $5,275,905.
| Awarding Organization | Amount |
|---|---|
United Negro College Fund Inc Washington, DC PURPOSE: GRANTS & SCHOLARSHIPS, TECH ASSIST, AREA OFFICE JOINT CAMPAIGN | $1,400,095 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $1,000,000 |
Rise Opportunity Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $500,000 |
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE CATALOGUING AND CONSERVATION OF THE FISK UNIVERSITY GALLERIES COLLECTIONS, IN PARTICULAR THE HARMON FOUNDATION COLLECTION OF AFRICAN MODERNIST ART | $500,000 |
James R Meadows Jr Foundation Nashville, TN PURPOSE: FOR USE IN THE ORGANIZATION'S EXEMPT FUNCTION | $266,000 |
Regions Foundation Birmingham, AL PURPOSE: GENERAL SUPPORT | $250,000 |
Endowment Analysis
| Beg. Balance | $26,107,809 |
| Earnings | $4,056,449 |
| Net Contributions | $4,636,136 |
| Grants | $1,113,911 |
| Ending Balance | $33,686,483 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harding University Searcy, AR | $405,616,863 | $135,462,423 |
University Of The Cumberlands Inc Williamsburg, KY | $474,140,732 | $211,155,067 |
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Marymount University Arlington, VA | $272,414,108 | $118,614,940 |
Rockhurst University Kansas City, MO | $176,706,478 | $126,555,115 |
Columbia College Columbia, MO | $267,475,036 | $84,570,180 |
Gardner-Webb University Boiling Springs, NC | $163,499,840 | $100,956,877 |
Park University Parkville, MO | $196,638,780 | $102,110,275 |
Meredith College Raleigh, NC | $208,277,395 | $93,593,801 |
Georgia Tech Athletic Association Atlanta, GA | $397,031,896 | $79,492,257 |
Queens University Of Charlotte Charlotte, NC | $172,081,537 | $81,135,661 |
William Carey University Hattiesburg, MS | $258,133,608 | $93,416,449 |