Mcmurry University
- Assets
- $177.2m
- Revenue
- $55.0m
- Investments
- $5.6m
- Employees
- 639
- Location
- Abilene, TX
- Founding
- 08/1941
- Data as of
- 05/2023
- EIN
- 75-0855633
Organization Overview
Mcmurry University is located in Abilene, TX. The organization was established in 1941. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Mcmurry University employed 639 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcmurry 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, Mcmurry University generated $55.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $47.4m during the year ending 05/2023. While expenses have increased by 5.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SHAPED BY CHRISTIAN PRINCIPLES, MCMURRY UNIVERSITY CHALLENGES STUDENTS TO EXAMINE OUR COMPLEX WORLD FROM MULTIPLE PERSPECTIVES IN PREPARATION FOR LIVES OF LEADERSHIP, SERVICE AND PROFESSIONAL SUCCESS.
Describe the Organization's Program Activity:
MCMURRY UNIVERSITY WAS FOUNDED IN 1923 BY THE UNITED METHODIST CHURCH. DURING THE 2022-2023 YEAR, THE UNIVERSITY CHALLENGED STUDENTS TO GROW ACADEMICALLY AND SOCIALLY WITH 66 ACADEMIC MAJORS AND 40 ACADEMIC, SOCIAL AND SERVICE ORGANIZATIONS. ALSO OFFERED TO OUR APPROXIMATELY 1,237 RACIALLY AND ETHNICALLY DIVERSE STUDENTS, ARE PROFESSIONAL PREPARATION PROGRAMS IN ATHLETIC TRAINING, ENGINEERING, ALLIED HEALTH, DENTISTRY, MEDICINE, OCCUPATIONAL THERAPY, PHARMACY, PHYSICAL THERAPY, VETERINARY MEDICINE, LAW, AND MINISTRY ALONG WITH A MASTERS OF ACCOUNTANCY AND A MASTERS OF SCIENCE IN NURSING IN EDUCATION OR FAMILY NURSE PRACTITIONER. THE UNIVERSITY IS PROUD TO OFFER A LOW STUDENT TO FACULTY RATIO OF 13 TO 1, AVERAGE CLASS SIZE OF 14 AND DOES NOT USE TEACHING ASSISTANTS IN THE CLASSROOMS. STUDENTS CAN EXPLORE INTERNATIONAL CULTURE BY PARTICIPATING IN AN ACTIVE NATIONAL AND INTERNATIONAL MODEL UN PROGRAM AND ANNUAL TRAVEL ABROAD EDUCATIONAL PROGRAMS. ALSO AVAILABLE TO STUDENTS IS A STUDENT-RUN ART GALLERY AND ARTWORK OWNED BY THE UNIVERSITY APPRAISED AT $164K. THE SCHOOL OF BUSINESS HAS RECENTLY RECEIVED A TEN MILLION DOLLAR ENDOWMENT AND BUSINESS STUDENTS AT MCMURRY CAN PARTICIPATE IN MANAGING A ONE MILLION DOLLAR INVESTMENT FUND.
THE UNIVERSITY PROVIDES STUDENT SERVICES THROUGH HEALTH AND WELLNESS, CAREER SERVICES, RELIGION AND SPIRITUAL LIFE, SOCIAL CLUBS, ACADEMIC SUCCESS AND STUDENT LIFE EXPERIENCES.
IN ADDITION TO EDUCATING STUDENTS, THE UNIVERSITY OFFERS ON CAMPUS HOUSING AND DINING SERVICES AS AUXILIARY SERVICES. DINING OPTIONS INCLUDE THREE ROBUST MEAL PLANS OFFERING STUDENTS COOK TO ORDER MENU ITEMS, VARIOUS COMMUTER PLANS AND THREE RETAIL OPTIONS.
THE UNIVERSITY OFFERS ATHLETIC PROGRAMS WITH A MISSION TO MAKE PERSONAL INVESTMENTS IN THE LIVES OF ALL SCHOLAR-ATHLETES AND USE THE INTERCOLLEGIATE ATHLETICS EXPERIENCE TO DEVELOP CHAMPIONS FOR LIFE. THE ATHLETIC PROGRAM CORE VALUES ARE RESPONSIBILITY, INTEGRITY, SERVICE AND EXCELLENCE. THE UNIVERSITY ALSO OFFERS ASSISTANCE WITH STUDENT AID, AS WELL AS FOSTERING RELATIONSHIPS WITH ALUMNI, WHICH BENEFIT OUR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Art Pertile Institutional Oversight Vice Ch | Trustee | 1 | $0 |
Austin Pittman Trustee | Trustee | 2 | $0 |
Cindy Allen Trustee | Trustee | 2 | $0 |
Bishop James Nunn Trustee | Trustee | 1 | $0 |
Carl Hubbard Investment Subcomm Chair | Trustee | 2 | $0 |
Chuck Fallon Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sedalco Inc Campus Upgrade | 5/30/23 | $5,701,101 |
Pioneer College Caterers Food Services | 5/30/23 | $1,373,976 |
Datroo Technologies Technology Support | 5/30/23 | $1,154,875 |
Accurate Air Solutions Llc Campus Upgrade | 5/30/23 | $1,204,639 |
National Mangement Resources Corp Grounds Services | 5/30/23 | $654,477 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $84,505 |
| Related organizations | $0 |
| Government grants | $2,503,428 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,758,725 |
| Noncash contributions included in lines 1a–1f | $2,211,657 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,346,658 |
| Total Program Service Revenue | $32,922,500 |
| Investment income | $3,164,023 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $467,692 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$419,798 |
| Net Income from Fundraising Events | -$11,484 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$30,872 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,954,600 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,783,732 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,480,405 |
| Compensation of current officers, directors, key employees. | $852,099 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,875,097 |
| Pension plan accruals and contributions | $430,632 |
| Other employee benefits | $1,351,549 |
| Payroll taxes | $1,041,687 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $472,585 |
| Fees for services: Accounting | $60,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $830,936 |
| Royalties | $0 |
| Occupancy | $2,366,050 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $350,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,817,074 |
| Insurance | $462,442 |
| All other expenses | $0 |
| Total functional expenses | $47,431,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,501 |
| Savings and temporary cash investments | $13,365,641 |
| Pledges and grants receivable | $3,325,684 |
| Accounts receivable, net | $5,632,252 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $84,669 |
| Prepaid expenses and deferred charges | $1,371,449 |
| Net Land, buildings, and equipment | $57,822,998 |
| Investments—publicly traded securities | $56,075,016 |
| Investments—other securities | $5,616,688 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,947,336 |
| Total assets | $177,249,234 |
| Accounts payable and accrued expenses | $5,835,686 |
| Grants payable | $0 |
| Deferred revenue | $1,582,019 |
| 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 | $14,803,091 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,797,999 |
| Total liabilities | $24,018,795 |
| Net assets without donor restrictions | $35,715,653 |
| Net assets with donor restrictions | $117,514,786 |
| 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 | $177,249,234 |