Oakwood University Inc
- Assets
- $115.2m
- Revenue
- $64.2m
- Investments
- $30.1m
- Employees
- 1,248
- Location
- Huntsville, AL
- Founding
- 04/1947
- Data as of
- 06/2021
- EIN
- 63-0366652
Organization Overview
Oakwood University Inc is located in Huntsville, AL. The organization was established in 1947. 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, Oakwood University Inc employed 1,248 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Oakwood University Inc 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, Oakwood University Inc generated $64.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $61.5m during the year ending 06/2021. While expenses have increased by 0.9% 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
OAKWOOD UNIVERSITY, A HISTORICALLY BLACK SEVENTH-DAY ADVENTIST INSTITUTION OF HIGHER LEARNING, PROVIDES QUALITY CHRISTIAN EDUCATION THAT EMPHASIZES ACADEMIC EXCELLENCE; PROMOTES HARMONIOUS DEVELOPMENT OF MIND, BODY AND SPIRIT; AND PREPARES LEADERS IN SERVICE FOR GOD AND HUMANITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE UNDERGRADUATE DEGREE PROGRAMS IN VARIOUS DISCIPLINES INCLUDING ON CAMPUS TRAINING IN SELECTED FIELDS OF STUDY FOR APPROXIMATELY 1800 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie N Pollard President | Officer | 50 | $128,709 |
Sabrina Cotton VP Financial Affairs | Officer | 50 | $71,168 |
David A Knight VP Student Services | Officer | 40 | $71,168 |
Colwick Wilson Senior VP Provost | Officer | 40 | $71,168 |
David Richardson VP Enrollment Services | Officer | 40 | $71,168 |
Prudence Labeach Pollard VP Faculty Development | Officer | 40 | $69,792 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thompson Hospitality Service Food Service | 6/29/21 | $2,290,217 |
P & C Construction Inc Construction | 6/29/21 | $4,600,907 |
Lee Builders Inc Construction | 6/29/21 | $1,964,737 |
Dynamic Campus Solutions Technology | 6/29/21 | $1,943,750 |
Huntsville Utilities Utilities | 6/29/21 | $1,697,940 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,198,878 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,180,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,379,345 |
| Total Program Service Revenue | $34,788,157 |
| Investment income | $720,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$25,399 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$5,475 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $392,205 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,178,393 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,630,662 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $483,173 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,370,181 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,756,973 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $326,624 |
| 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 | $3,767,070 |
| Advertising and promotion | $328,967 |
| Office expenses | $0 |
| Information technology | $134,306 |
| Royalties | $62,182 |
| Occupancy | $3,515,716 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $116,063 |
| Interest | $315,549 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,487,987 |
| Insurance | $902,650 |
| All other expenses | $2,448,877 |
| Total functional expenses | $61,467,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,558,416 |
| Pledges and grants receivable | $336,560 |
| Accounts receivable, net | $11,087,365 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $907,705 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $108,910 |
| Net Land, buildings, and equipment | $60,672,049 |
| Investments—publicly traded securities | $211,860 |
| Investments—other securities | $30,055,570 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $284,640 |
| Total assets | $115,223,075 |
| Accounts payable and accrued expenses | $8,237,828 |
| Grants payable | $857,270 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,572,757 |
| 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 | $21,667,855 |
| Net assets without donor restrictions | $57,782,924 |
| Net assets with donor restrictions | $35,772,296 |
| 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 | $115,223,075 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Oakwood University Inc has recieved totaling $4,558,659.
| Awarding Organization | Amount |
|---|---|
Adventist Health System Sunbelt Healthcare Corporation Altamonte Springs, FL PURPOSE: General Support | $1,580,000 |
United Negro College Fund Inc Washington, DC PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $1,394,462 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $993,759 |
Winifred Stevens Foundation Tempe, AZ PURPOSE: COMM HEALTH ACTION CTR FOOD PANTRY | $107,400 |
Winifred Stevens Foundation Tempe, AZ PURPOSE: GENERAL ENDOWMENT | $100,000 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $93,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Mississippi College Clinton, MS | $268,873,931 | $113,425,007 |
Ringling College Of Art And Design Inc Sarasota, FL | $401,598,018 | $119,229,866 |
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 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |
Birmingham-Southern College Birmingham, AL | $106,162,162 | $42,694,906 |
Flagler College Inc St Augustine, FL | $205,599,935 | $73,291,832 |