Rhodes College
- Assets
- $583.2m
- Revenue
- $126.6m
- Investments
- $357.4m
- Employees
- 1,505
- Location
- Memphis, TN
- Founding
- 07/1946
- Data as of
- 06/2020
- EIN
- 62-0476301
Organization Overview
Rhodes College is located in Memphis, TN. 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 06/2021, Rhodes College employed 1,505 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhodes 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 06/2020, Rhodes College generated $126.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $145.5m during the year ending 06/2020. While expenses have increased by 2.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
RHODES IS A NATIONAL FOUR-YEAR, PRIVATE, COEDUCATIONAL, RESIDENTIAL COLLEGE COMMITTED TO THE LIBERAL ARTS AND SCIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC INSTRUCTION SERVING 1840 STUDENTS.
STUDENT FINANCIAL AID CONSISTING OF 1 FINANCIAL AID PROGRAM 2 HONORARY SCHOLARSHIP AND FELLOWSHIP PROGRAM
STUDENT SERVICES EXPENSES INCLUDE ACTIVITIES THAT CONTRIBUTE TO THE STUDENTS WELLBEING AND DEVELOPMENT BEYOND THE ACADEMIC PROGRAM. INCLUDED IN STUDENT SERVICES EXPENSES ARE THE COUNSELING CENTER, CAREER SERVICES, ATHLETICS, ADMISSIONS, REGISTRAR, STUDENT GOVERNMENT, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hass Marjorie President | Officer | 38 | $494,652 |
Wade Jennifer G VP For Development | Officer | 38 | $278,558 |
Webb Kyle VP For Fin Business Affairs | Officer | 38 | $277,526 |
Richey Melody K Exec Asst To President | Officer | 38 | $244,804 |
Thompson J Carey VP Enrollmt Comm/dean Of Admissions | Officer | 38 | $210,973 |
Turner Sherry VP For Strategic Intiatives | Officer | 38 | $200,374 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hanbury Evans Wright Vlattas Company Contractor | 6/29/21 | $1,124,406 |
Sprinkler Systems Llc Contractor | 6/29/21 | $554,188 |
Hardin & Sons Plumbing Co Llc Contractor | 6/29/21 | $143,173 |
William E Troutt Consulting Services | 6/29/21 | $239,882 |
Carnegie Dartlett Llc Consulting Services | 6/29/21 | $136,568 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,053,927 |
| Investment income | $2,014,394 |
| 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 | $126,618,541 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $54,143,813 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,007,606 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,786,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,689,116 |
| Pension plan accruals and contributions | $3,161,679 |
| Other employee benefits | $6,010,699 |
| Payroll taxes | $2,647,167 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $536,792 |
| Fees for services: Accounting | $127,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $81,469 |
| Fees for services: Other | $673,892 |
| Advertising and promotion | $210,066 |
| Office expenses | $2,746,512 |
| Information technology | $1,996,628 |
| Royalties | $0 |
| Occupancy | $2,059,513 |
| Travel | $1,236,707 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $117,997 |
| Interest | $2,484,220 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,052,283 |
| Insurance | $918,155 |
| All other expenses | $0 |
| Total functional expenses | $145,518,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,545,066 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,229,909 |
| Accounts receivable, net | $1,432,535 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,456 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,018 |
| Investments—publicly traded securities | $22,041,928 |
| Investments—other securities | $357,437,674 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,951,314 |
| Total assets | $583,153,249 |
| Accounts payable and accrued expenses | $15,846,207 |
| Grants payable | $0 |
| Deferred revenue | $3,042,606 |
| Tax-exempt bond liabilities | $61,796,523 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,415,129 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,038,665 |
| Total liabilities | $102,139,130 |
| 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 | $481,014,119 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Rhodes College has recieved totaling $38,324.
| Awarding Organization | Amount |
|---|---|
Anonymous Trust Raleigh, NC PURPOSE: SCHOLARSHIP FOR HANNAH ROBINSON | $33,224 |
Jack Webster Grigsby Foundation Shreveport, LA PURPOSE: UNRESTRICTED | $5,000 |
Brayton Foundation Dyersburg, TN PURPOSE: UNRESTRICTED USE DONATION | $100 |
Endowment Analysis
| Beg. Balance | $341,178,021 |
| Earnings | $107,497,570 |
| Net Contributions | $2,394,622 |
| Other Expense | $1,089,191 |
| Grants | $18,188,179 |
| Ending Balance | $431,792,843 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Washington & Lee University Lexington, VA | $2,101,751,936 | $186,199,453 |
Davidson College Davidson, NC | $1,786,522,691 | $194,756,860 |
Rhodes College Memphis, TN | $583,153,249 | $126,618,541 |
Berry College Inc Mount Berry, GA | $1,445,846,752 | $178,933,031 |
Berea College Berea, KY | $1,637,313,850 | $205,202,087 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Mississippi College Clinton, MS | $268,873,931 | $113,425,007 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |