Tusculum University
- Assets
- $114.7m
- Revenue
- $47.9m
- Investments
- $27.5m
- Employees
- 610
- Location
- Greeneville, TN
- Founding
- 02/1934
- Data as of
- 06/2021
- EIN
- 62-0484185
Organization Overview
Tusculum University is located in Greeneville, TN. The organization was established in 1934. 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, Tusculum University employed 610 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tusculum 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, Tusculum University generated $47.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $43.9m during the year ending 06/2021. While expenses have increased by 1.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION AND MAINTENANCE OF AN INSTITUTION OF HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MAINTENANCE OF AN INSTITUTION OF HIGHER LEARNING.
OPERATION AND MAINTENANCE OF AN INSTITUTION OF HIGHER LEARNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Scott Hummel President/ex Officio | Officer | 45 | $231,811 |
Dr Tricia Hunsader VP Of Academic Affairs/pro | Officer | 45 | $159,827 |
Andrew R Buzzelli - Thru 52820 VP Of Optometry | Officer | 45 | $119,871 |
Douglas N Jones VP Of Athletics | Officer | 45 | $114,857 |
Dr Ramona Williams VP Of Enrollment Management | Officer | 45 | $109,911 |
John Wilkinson - Thru 102820 VP Of Finance, CFO | Officer | 45 | $92,597 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartswell Dining Services Cafeteria Services | 6/29/21 | $2,494,757 |
Anthology Inc Erp System | 6/29/21 | $445,239 |
Tiaa-cref Manage Retirement Plan | 6/29/21 | $411,751 |
Morristown Medical Properties Llc Rent | 6/29/21 | $146,611 |
Feile Solutions Llc Consulting | 6/29/21 | $146,503 |
Chartswell Dining Services Cafeteria Services | 6/29/21 | $2,494,757 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $55,000 |
| Government grants | $6,893,566 |
| All other contributions, gifts, grants, and similar amounts not included above | $967,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,916,217 |
| Total Program Service Revenue | $34,341,261 |
| Investment income | $5,622,154 |
| 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 | $47,879,632 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,271,866 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $922,655 |
| Compensation of current officers, directors, key employees. | $509,582 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,835,571 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,847,594 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,068 |
| Fees for services: Accounting | $141,562 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $107,305 |
| Fees for services: Other | $1,052,916 |
| Advertising and promotion | $108,362 |
| Office expenses | $579,808 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,545,238 |
| Travel | $450,213 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $66,395 |
| Interest | $1,858,759 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,875,520 |
| Insurance | $630,048 |
| All other expenses | $5,620,983 |
| Total functional expenses | $43,946,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,011 |
| Savings and temporary cash investments | $5,419,091 |
| Pledges and grants receivable | $230,840 |
| Accounts receivable, net | $3,781,801 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $358,828 |
| Prepaid expenses and deferred charges | $330,817 |
| Net Land, buildings, and equipment | $77,069,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $27,502,385 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,694,317 |
| Accounts payable and accrued expenses | $2,934,310 |
| Grants payable | $0 |
| Deferred revenue | $32,216 |
| 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 | $56,862,935 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $127,250 |
| Total liabilities | $59,956,711 |
| Net assets without donor restrictions | $26,449,896 |
| Net assets with donor restrictions | $28,287,710 |
| 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 | $114,694,317 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Tusculum University has recieved totaling $198,920.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $112,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $52,600 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $34,320 |
Endowment Analysis
| Beg. Balance | $23,971,398 |
| Earnings | $5,220,153 |
| Net Contributions | $382,448 |
| Grants | $3,801,421 |
| Ending Balance | $25,772,578 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |