Carson-Newman University
- Assets
- $173.8m
- Revenue
- $57.6m
- Investments
- $0.0
- Employees
- 481
- Location
- Jefferson City, TN
- Founding
- 11/1933
- Data as of
- 07/2023
- EIN
- 62-0479189
Organization Overview
Carson-Newman University is located in Jefferson City, TN. The organization was established in 1933. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 07/2023, Carson-Newman University employed 481 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carson-Newman 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 07/2023, Carson-Newman University generated $57.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $50.6m during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MISSION OF CHALLENGE, NURTURE, COMMUNITY: CARSON-NEWMAN COLLEGE OFFERS A CHRISTIAN, LIBERAL ARTS EDUCATION IN AN ENVIRONMENT THAT ENCOURAGES OPEN INTELLECTUAL INQUIRY AND DEEPER SPIRITUAL MATURITY. STUDENTS RECEIVE A PERSONALIZED EDUCATION IN SMALL CLASSES. CARING FACULTY AND STAFF MENTORS GET TO KNOW AND NURTURE EACH STUDENT. WE SEEK TO INSTILL CHRISTIAN VALUES IN OUR STUDENTS AND INSPIRE THEM TO USE UNIQUE GIFTS FOR A LIFETIME OF SERVICE. THE HISTORIC BAPTIST DISTINCTIVES OF RELIGIOUS LIBERTY, PERSONAL RESPONSIBILITY, AND COMPASSION FOR OTHERS CREATE A WELCOMING COMMUNITY THAT FOSTERS A SENSE OF BELONGING. THE CULTURAL HERITAGE AND GEOGRAPHIC BEAUTY OF THE APPALACHIAN REGION ENRICHES THE CARSON-NEWMAN EXPERIENCE, AND THE COLLEGE CONTRIBUTES TO THE ENVIRONMENTAL PRESERVATION ADN ECONOMIC DEVELOPMENT OF THIS NATIONAL TREASURE. VISION: TO BECOME A PREMIER CHRISTIAN LIBERAL ARTS COLLEGE WITH A WORLD-WIDE IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARSON-NEWMAN COLLEGE IS A PRIVATE, CHRISTIAN-BASED LIBERAL-ARTS NOT-FOR- PROFIT INSTITUTION OF HIGHER EDUCATION WHICH IS OPERATED UNDER THE AUSPICES OF THE TENNESSEE BAPTIST CONVENTION. THE COLLEGE PROVIDES UNDERGRADUATE AND GRADUATE INSTRUCTION TO APPROXIMATELY 2,586 STUDENTS, ACADEMIC SUPPORT THAT INCLUDES LIBRARY SERVICES, TUTORING, AND ENGLISH INSTRUCTION FOR SPEAKERS OF OTHER LANGUAGES.
CARSON-NEWMAN COLLEGE INTEGRATES ITS STUDENTS INTO BENEVOLENT MINISTRIES THAT IT OPERATES TO SERVICE THE INDIGENT (APPALACHIAN OUTREACH SPONSORS MISSION TRIPS, PROVIDES HOME REPAIR, A FOOD PANTRY, CLOTHING, HOUSEHOLD GOODS AND EDUCATIONAL PROGRAMS THAT INCLUDE TUTORING AND LIFE SKILLS TRAINING AND ITS SAMARITAN HOUSE PROVIDES TEMPORARY HOUSING FOR HOMELESS FAMILIES IN EAST TENNESSEE).
CARSON-NEWMAN COLLEGE PROVIDES STUDENT SERVICES THAT INCLUDE ADMISSIONS, ORIENTATION, REGISTRATION, FINANCIAL-AID ASSISTANCE COUNSELING, ACADEMIC SUPPORT AND CAREER COUNSELING, PSYCHOLOGICAL COUNSELING, INTRAMURAL PROGRAMS, AND INTER-COLLEGIATE ATHLETICS.
CARSON-NEWMAN COLLEGE PROVIDES AUXILIARY ENTERPRISES TAHT INCLUDE HOUSING FOR APPROXIMATELY 736 FULL-TIME STUDENTS RESIDENTIAL STUDENTS, FOOD SERVICE, A BOOKSTORE, AND FACILITIES FOR SUMMER PROGRAMS OPERATED BY LIFEWAY MINISTRIES FOR APPROXIMATELY 400 CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Bruce Chesser Trustee | Trustee | 2 | $0 |
Mrs Cindi Ogle Trustee | Trustee | 2 | $0 |
Mr Robert Gay Trustee | Trustee | 2 | $0 |
Mr Rick Greene Trustee | Trustee | 2 | $0 |
Dr Thomas E Harmon Trustee | Trustee | 2 | $0 |
Judge Barry A Steelman Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corporation Food Service | 7/30/23 | $4,263,589 |
Keypath Education Llc Marketing | 7/30/23 | $1,892,833 |
Premiere Bldg Maint Corp Janitorial | 7/30/23 | $1,379,876 |
Walker Enterprises Construction | 7/30/23 | $1,293,368 |
Appalachian Electric Cooperative Electricity | 7/30/23 | $1,278,195 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,333,704 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,724,783 |
| Noncash contributions included in lines 1a–1f | $1,124,423 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,058,487 |
| Total Program Service Revenue | $39,985,070 |
| Investment income | $0 |
| 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 | $57,605,049 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,287,615 |
| Compensation of current officers, directors, key employees. | $737,452 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,887,104 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,960,500 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,744,990 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $640,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,249,867 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $50,561,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,682,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,033,721 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $453,801 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,132,203 |
| Net Land, buildings, and equipment | $87,093,804 |
| Investments—publicly traded securities | $63,325,874 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,116,772 |
| Total assets | $173,838,618 |
| Accounts payable and accrued expenses | $4,432,770 |
| Grants payable | $0 |
| Deferred revenue | $2,656,227 |
| 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 | $0 |
| Other liabilities | $47,828,820 |
| Total liabilities | $54,917,817 |
| Net assets without donor restrictions | $31,276,848 |
| Net assets with donor restrictions | $87,643,953 |
| 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 | $173,838,618 |