Shorter College is located in North Little Rock, AR. 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. As of 06/2023, Shorter College employed 164 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shorter 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, Shorter College generated $13.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $11.5m during the year ending 06/2023. While expenses have increased by 16.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SHORTER COLLEGE IS A PRIVATE CO EDUCATIONAL 2 YEAR INSTITUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION SUCCESSFULLY COMPLETED ANOTHER ACADEMIC SCHOOL YEAR ADDING VALUE TO THE COMMUNITY AND THE STUDENTS IT SERVES
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sheila Washington Board Member | Trustee | 5 | $0 |
Rev Tyrone Broomfield Board Member | Trustee | 5 | $0 |
Dr Carolyn Jones Board Member | Trustee | 5 | $0 |
Rev Marcellus Fields Board Member | Trustee | 5 | $0 |
George Mackey CFO | Officer | 40 | $0 |
Bishop Michael Mitchell Chariman | Officer | 40 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $8,159,534 |
All other contributions, gifts, grants, and similar amounts not included above | $5,218,968 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,378,502 |
Total Program Service Revenue | $0 |
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 | $13,378,502 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,443,763 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $13,100 |
Payroll taxes | $0 |
Fees for services: Management | $2,068,859 |
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 | $323,986 |
Office expenses | $262,864 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,188,763 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $424,342 |
Interest | $2,304 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $339,466 |
Insurance | $432,175 |
All other expenses | $31,109 |
Total functional expenses | $11,525,936 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,210,206 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $173,494 |
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 | $1,700 |
Net Land, buildings, and equipment | $12,962,894 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $15,348,294 |
Accounts payable and accrued expenses | $1,194,364 |
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 | $127,277 |
Other liabilities | $0 |
Total liabilities | $1,321,641 |
Net assets without donor restrictions | $13,426,653 |
Net assets with donor restrictions | $600,000 |
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 | $15,348,294 |