Richmont Graduate University
- Assets
- $8.4m
- Revenue
- $7.2m
- Investments
- $1.2m
- Employees
- 215
- Location
- Chattanooga, TN
- Founding
- 01/1956
- Data as of
- 06/2021
- EIN
- 62-0789275
Organization Overview
Richmont Graduate University is located in Chattanooga, TN. The organization was established in 1956. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2022, Richmont Graduate University employed 215 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmont Graduate 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, Richmont Graduate University generated $7.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $7.8m during the year ending 06/2021. While expenses have increased by 4.0% 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
GRADUATE EDUCATION AND PROFESSIONAL COUNSELING
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PRIVATE COLLEGE OFFERING MASTERS DEGREES IN PSYCHOLOGY AND MINISTRY; APPROXIMATELY 300 STUDENTS
OTHER PROGRAM SERVICES CONSIST OF OTHER FEES, FEDERAL WORK STUDY REIMBURSEMENT, AND MISCELLANEOUS REVENUES.
THE ORGANIZATION'S COUNSELING CENTER PROVIDES MORE THAN 50,000 HOURS OF LOW-COST COUNSELING SESSIONS TO THE ATLANTA AND CHATTANOOGA COMMUNITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Miller Board Chair | OfficerTrustee | 5 | $0 |
Tom Decosimo Finance And Investment Cha | OfficerTrustee | 5 | $0 |
Ann Keller Board Vice Chair | OfficerTrustee | 5 | $0 |
Karen Loritts Academic Chair | OfficerTrustee | 5 | $0 |
Angie Smith Executive Director | Trustee | 5 | $0 |
James Jackson Board Secretary | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $839,557 |
| Investment income | $65,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,662 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,234,181 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $4,918,907 |
| Pension plan accruals and contributions | $55,604 |
| Other employee benefits | $426,598 |
| Payroll taxes | $349,123 |
| 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 | $37,067 |
| Advertising and promotion | $220,352 |
| Office expenses | $160,595 |
| Information technology | $127,355 |
| Royalties | $0 |
| Occupancy | $103,209 |
| Travel | $47,555 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,385 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $272,237 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,797,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $899,592 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $194,763 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,595 |
| Investments—publicly traded securities | $2,687,814 |
| Investments—other securities | $1,150,678 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,891 |
| Total assets | $8,373,056 |
| Accounts payable and accrued expenses | $152,846 |
| Grants payable | $0 |
| Deferred revenue | $573,293 |
| 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 | $0 |
| Total liabilities | $726,139 |
| 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 | $7,646,917 |