Austin College
- Assets
- $325.0m
- Revenue
- $90.7m
- Investments
- $29.7k
- Employees
- 857
- Location
- Sherman, TX
- Founding
- 05/1946
- Data as of
- 06/2021
- EIN
- 75-0827409
Organization Overview
Austin College is located in Sherman, TX. The organization was established in 1946. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Austin College employed 857 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Austin 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 06/2021, Austin College generated $90.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $77.7m during the year ending 06/2021. While expenses have increased by 1.4% 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
THE MISSION OF AUSTIN COLLEGE IS TO EDUCATE STUDENTS IN THE LIBERAL ARTS AND SCIENCES IN ORDER TO PREPARE THEM FOR REWARDING CAREERS AND FOR FULL, ENGAGED AND MEANINGFUL LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL: THE COLLEGE PROVIDED EDUCATION FOR 1,324 UNDERGRADUATE AND GRADUATE STUDENTS. THE COLLEGE CONFERRED DEGREES UPON 261 STUDENTS.
STUDENT SERVICES SUCH AS EXTRA-CURRICULAR PROGRAMMING, HEALTH SERVICES, LOAN CANCELLATION FOR STUDENTS, OPERATIONS AND MAINTENANCE OF FACILITIES FOR INSTRUCTIONAL PURPOSES AS WELL AS ACADEMIC SUPPORT FACILITIES.
FOOD SERVICE: 711 STUDENTS PURCHASED MEAL PLANS. IN ADDITION TO SERVING THESE STUDENTS THE COLLEGE ALSO PROVIDED FOOD SERVICE FOR SPECIAL EVENTS AND THE MANY FACULTY, STAFF AND OTHER STUDENTS SERVED ON A CASH BASIS.
RESIDENTIAL LIVING: THE COLLEGE PROVIDED HOUSING FOR 984 STUDENTS WHO RESIDED ON CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Corrigan Board Chair | OfficerTrustee | 2 | $0 |
Becky R Sykes Board Vice Chair | OfficerTrustee | 2 | $0 |
Brian Ainsworth Trustee | Trustee | 1 | $0 |
Greg Almond Trustee | Trustee | 1 | $0 |
Joy Apple Trustee | Trustee | 1 | $0 |
Lawrence Scott Austin Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Newton's Big Hat Limousines Llc Transportation | 6/29/22 | $322,450 |
Ruffalocody Holdings Llc Dba Ruffalo Noe Fundraising | 6/29/22 | $657,194 |
Ellucian Company Lp Software | 6/29/22 | $286,277 |
Nathanael J Essin Dba Undaunted Marketing | 6/29/22 | $255,503 |
Undaunted Agency Marketing | 6/29/22 | $143,646 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,693,068 |
| Investment income | $6,714,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,698,157 |
| Net Income from Fundraising Events | $724 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,714,379 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $35,120,887 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,115,054 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,355,048 |
| Pension plan accruals and contributions | $1,805,369 |
| Other employee benefits | $3,372,600 |
| Payroll taxes | $1,203,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,172 |
| Fees for services: Accounting | $91,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $584,651 |
| Fees for services: Other | $464,042 |
| Advertising and promotion | $488,532 |
| Office expenses | $862,213 |
| Information technology | $533,024 |
| Royalties | $0 |
| Occupancy | $3,708,755 |
| Travel | $459,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,378 |
| Interest | $1,893,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,720,542 |
| Insurance | $495,484 |
| All other expenses | $0 |
| Total functional expenses | $77,664,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,249,823 |
| Savings and temporary cash investments | $27,103,224 |
| Pledges and grants receivable | $13,035,432 |
| Accounts receivable, net | $1,355,194 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,993,046 |
| Inventories for sale or use | $68,421 |
| Prepaid expenses and deferred charges | $799,420 |
| Investments—publicly traded securities | $166,744,096 |
| Investments—other securities | $29,667 |
| Investments—program-related | $4,486,214 |
| Intangible assets | $0 |
| Other assets | $2,732,629 |
| Total assets | $325,037,828 |
| Accounts payable and accrued expenses | $9,678,644 |
| Grants payable | $0 |
| Deferred revenue | $633,058 |
| 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 | $38,154,815 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $329,075 |
| Total liabilities | $48,795,592 |
| 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 | $276,242,236 |