Howard Payne University
- Assets
- $132.2m
- Revenue
- $37.9m
- Investments
- $51.6m
- Employees
- 552
- Location
- Brownwood, TX
- Founding
- 02/1939
- Data as of
- 05/2023
- EIN
- 75-0800653
Organization Overview
Howard Payne University is located in Brownwood, TX. The organization was established in 1939. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2023, Howard Payne University employed 552 individuals. This organization is the central organization for a national or regional group of organizations. Howard Payne 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 05/2023, Howard Payne University generated $37.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $35.2m during the year ending 05/2023. 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
HOWARD PAYNE UNIVERSITY IS A CHRIST-CENTERED ACADEMIC COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POST-SECONDARY EDUCATION INSTRUCTION: HOWARD PAYNE UNIVERSITY OFFERS A FULL ARRAY OF UNDERGRADUATE PROGRAMS AND FOUR GRADUATE PROGRAMS IN A TRADITIONAL RESIDENTIAL ACADEMIC COMMUNITY. THE UNIVERSITY ALSO OFFERS SELECTED UNDERGRADUATE AND GRADUATE COURSE WORK BY ELECTRONIC MEANS AND AT EXTENDED LEARNING CENTERS IN EL PASO AND NEW BRAUNFELS. STUDENTS AT HPU CHOOSE FROM MORE THAN 100 MAJORS, MINORS AND PRE-PROFESSIONAL PROGRAMS IN SEVEN SCHOOLS: BUSINESS, CHRISTIAN STUDIES, EDUCATION, HUMANITIES, MUSIC AND FINE ARTS, NURSING, AND SCIENCE AND MATHEMATICS. THE GUY D. NEWMAN HONORS ACADEMY CHALLENGES STUDENTS WITH A MULTIDISCIPLINARY CURRICULUM AND EXCITING TRAVEL OPPORTUNITIES.
PROVIDE ACADEMIC SUPPORT THROUGH LIBRARY AND VARIOUS ACADEMIC DEPARTMENTS OF THE UNIVERSITY.
STUDENT SERVICES: HPU IS COMMITTED TO PROVIDING STUDENTS WITH A WIDE RANGE OF OPPORTUNITIES FOR LEARNING WITHIN AND BEYOND THE CLASSROOM. STUDENT ENGAGEMENT IN CAMPUS LIFE IS DESIGNED TO HELP STUDENTS GROW IN RELATIONSHIP TO CHRIST, DEVELOP LEADERSHIP SKILLS, BUILD RELATIONSHIPS, PARTICIPATE IN SERVICE TO THE CAMPUS AND COMMUNITY, EXHIBIT PERSONAL RESPONSIBILITY, AND HAVE FUN. THESE SERVICES INCLUDE ADMISSIONS, ATHLETICS/INTRAMURALS, BAPTIST STUDENT MINISTRY, CHAPEL, CHEERLEADING, THE COLLEGIUM (TUTORING, ACADEMIC TESTING, ADVISING, CAREER SERVICES AND LEARNING ASSISTANCE), COUNSELING AND HEALTH SERVICES, HPU'S DEPARTMENT OF PUBLIC SAFETY, FINANCIAL AID, THE FOOD AND ESSENTIALS PANTRY, THE LIBRARY, MAIL SERVICES, NEW-STUDENT ORIENTATION, RESIDENCE LIFE, STUDENT ACTIVITIES, STUDENT CONDUCT, STUDENT GOVERNMENT, STUDENT ORGANIZATIONS, THE WELLNESS CENTER, THE JACKET CLOSET, AND MORE.
AUXILIARY ENTERPRISES: HPU'S AUXILIARY PROGRAMS PROVIDE ESSENTIAL SERVICES TO STUDENTS. THESE PROGRAMS INCLUDE DINING SERVICES (TWO ON-CAMPUS DINING LOCATIONS AND STINGER BUCKS TO USE AT OFF-CAMPUS RESTAURANTS) AND SEVERAL HOUSING OPTIONS. THESE ON-CAMPUS FACILITIES INCLUDE ONE WOMEN'S RESIDENCE HALL, TWO MEN'S RESIDENCE HALLS, A NEWLY RENOVATED STUDENT APARTMENT COMPLEX, AND EIGHT DUPLEX APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Second Vice Chairperson | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Second Vice Chairperson (part Year) / First Vice Chairperson | OfficerTrustee | 1 | $0 |
Name Not Listed First Vice Chairperson (part Year) / Chairperson | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Waldrop Construction Construction | 5/30/23 | $4,000,474 |
Sodexo Inc & Affiliates Food Service | 5/30/23 | $1,454,926 |
Highground Advisors Investment Services | 5/30/23 | $752,196 |
Tad Hamilton Construction | 5/30/23 | $373,436 |
Safe Charters Llc Charter Bus Service | 5/30/23 | $270,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $164,550 |
| Related organizations | $560,113 |
| Government grants | $1,508,983 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,395,648 |
| Noncash contributions included in lines 1a–1f | $271,273 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,629,294 |
| Total Program Service Revenue | $23,714,938 |
| Investment income | $9,034,311 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,450 |
| Net Gain/Loss on Asset Sales | -$453,493 |
| Net Income from Fundraising Events | -$40,947 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,905,553 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,449,605 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $489,720 |
| Compensation of current officers, directors, key employees. | $146,916 |
| Compensation to disqualified persons | $248,437 |
| Other salaries and wages | $8,601,604 |
| Pension plan accruals and contributions | $386,502 |
| Other employee benefits | $1,070,384 |
| Payroll taxes | $661,972 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,451 |
| Fees for services: Accounting | $84,439 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $752,196 |
| Fees for services: Other | $438,477 |
| Advertising and promotion | $137,392 |
| Office expenses | $598,396 |
| Information technology | $929,990 |
| Royalties | $0 |
| Occupancy | $2,802,697 |
| Travel | $430,153 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,470 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,806,356 |
| Insurance | $392,929 |
| All other expenses | $476,145 |
| Total functional expenses | $35,175,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,007,331 |
| Savings and temporary cash investments | $2,565,514 |
| Pledges and grants receivable | $228,388 |
| Accounts receivable, net | $364,080 |
| 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 | $554,888 |
| Net Land, buildings, and equipment | $38,465,401 |
| Investments—publicly traded securities | $31,531,518 |
| Investments—other securities | $51,579,849 |
| Investments—program-related | $0 |
| Intangible assets | $209,661 |
| Other assets | $1,645,889 |
| Total assets | $132,152,519 |
| Accounts payable and accrued expenses | $1,975,143 |
| Grants payable | $0 |
| Deferred revenue | $2,832,444 |
| 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 | $808,068 |
| Total liabilities | $5,615,655 |
| Net assets without donor restrictions | $33,722,465 |
| Net assets with donor restrictions | $92,814,399 |
| 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 | $132,152,519 |