Southwestern Adventist University
- Assets
- $70.5m
- Revenue
- $25.8m
- Investments
- $0.0
- Employees
- 657
- Location
- Keene, TX
- Founding
- 04/1947
- Data as of
- 06/2022
- EIN
- 75-0891465
Organization Overview
Southwestern Adventist University is located in Keene, TX. The organization was established in 1947. 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, Southwestern Adventist University employed 657 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Southwestern Adventist 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 06/2022, Southwestern Adventist University generated $25.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $24.7m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
POST SECONDARY EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADULT EDUCATION PROGRAMS: DISTANCE LEARNING AND ADULT DEGREE
GENERAL/OTHER: MAJOR PROGRAMS
STUDENT FINANCIAL AID PROGRAMS: STUDENT FINANCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcel Sargeant Vice President For Instituational Research& Effectiveness | Officer | 40 | $119,245 |
Donna Berkner Academic Dean | Officer | 40 | $96,223 |
Joel Wallace Financial Vice President | Officer | 40 | $94,665 |
Ana Pattterson Interim President | Officer | 40 | $85,754 |
Kenneth Shaw President | Officer | 40 | $69,134 |
James Shires Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $506,774 |
| Related organizations | $3,936,825 |
| Government grants | $3,266,442 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,650,113 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,360,154 |
| Total Program Service Revenue | $15,998,718 |
| Investment income | -$363,225 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $145,654 |
| Net Rental Income | $247,475 |
| Net Gain/Loss on Asset Sales | $25,700 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $154,198 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,818,147 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $359,536 |
| Grants and other assistance to domestic individuals. | $4,831,501 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $613,081 |
| Compensation of current officers, directors, key employees. | $172,311 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,247,348 |
| Pension plan accruals and contributions | $480,001 |
| Other employee benefits | $2,587,689 |
| Payroll taxes | $254,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,359 |
| Fees for services: Accounting | $54,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $18,018 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $198,637 |
| Office expenses | $5,205,638 |
| Information technology | $262,342 |
| Royalties | $0 |
| Occupancy | $1,173,711 |
| Travel | $260,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,177 |
| Interest | $79,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $693,858 |
| Insurance | $273,532 |
| All other expenses | $0 |
| Total functional expenses | $24,724,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $540,973 |
| Savings and temporary cash investments | $18,510,714 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $374,891 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,688,522 |
| Inventories for sale or use | $48,846 |
| Prepaid expenses and deferred charges | $546,180 |
| Net Land, buildings, and equipment | $26,983,895 |
| Investments—publicly traded securities | $21,766,808 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $70,460,829 |
| Accounts payable and accrued expenses | $1,536,469 |
| Grants payable | $0 |
| Deferred revenue | $18,864 |
| 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 | $3,000,000 |
| Other liabilities | $0 |
| Total liabilities | $4,555,333 |
| Net assets without donor restrictions | $47,286,497 |
| Net assets with donor restrictions | $18,618,999 |
| 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 | $70,460,829 |