Martin Methodist College
- Assets
- $13.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 12/1946
- Data as of
- 06/2023
- EIN
- 62-0483210
Organization Overview
Martin Methodist College is located in Nashville, TN. The organization was established in 1946. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Martin Methodist 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 06/2023, Martin Methodist College generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (34.3%) each year. All expenses for the organization totaled $535.6k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (39.5%) 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
TO RECEIVE, INVEST AND DISTRIBUTE AMOUNTS AMOUNTS TO ORGANIZATIONS TO WHICH CONTRIBUTIONS ARE DEDUCTIBLE UNDER SECTION 170(C)(1), SECTION 642(C), SECTION 2055(A), AND SECTION 2533 OF THE INTERNAL REVENUE CODE, OR ANY CORRESPONDING PROVISIONS OF FUTURE TAX LAWS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ON JULY 1, 2021, AN ASSET TRANSFER AND TRANSITION AGREEMENT WAS MADE BETWEEN THE COLLEGE AND THE UNIVERSITY OF TENNESSEE. THE AGREEMENT ENABLED THE UNIVERSITY OF TENNESSEE TO ABSORB THE COLLEGE'S INSTITUTIONAL ASSETS AND OPERATIONS FOR THE PURPOSE OF ESTABLISHING A NEW CAMPUS OF THE UNIVERSITY OF TENNESSEE AT THE COLLEGE'S CAMPUS TO BE CALLED THE UNIVERSITY OF TENNESSEE, SOUTHERN. THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE APPROVED THE NEW CAMPUS AND RELATED TRANSACTIONS ON APRIL 29, 2021, EFFECTIVE JULY 1, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard F Warren Chairman | OfficerTrustee | 5 | $0 |
Byron R Trauger Trustee | OfficerTrustee | 5 | $0 |
Tim Underwood Trustee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Metz Culinary Management Cafeteria Service | 6/29/21 | $896,452 |
National Management Resources Corp Campus Facilities Management | 6/29/21 | $804,926 |
Pes Pulaski Electric System Utilities | 6/29/21 | $461,586 |
Teacher's Ins & Annuity Asso Retirement | 6/29/21 | $422,834 |
Church Mutual Insurance Company Property, Auto, And Liability Insurance | 6/29/21 | $258,399 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $339,374 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $339,374 |
| Total Program Service Revenue | $0 |
| Investment income | $308,711 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $441,353 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,089,438 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $219,653 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,129 |
| Fees for services: Accounting | $21,000 |
| 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 | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $535,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $828,899 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $75,429 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,357,275 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,182 |
| Total assets | $13,340,785 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $270,457 |
| Total liabilities | $270,457 |
| Net assets without donor restrictions | $17,556 |
| Net assets with donor restrictions | $13,052,772 |
| 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 | $13,340,785 |