Sierra Nevada College
- Assets
- $2.5m
- Revenue
- $181.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Incline Village, NV
- Founding
- 09/1969
- Data as of
- 06/2023
- EIN
- 88-0121831
Organization Overview
Sierra Nevada College, operating under the name Sierra Nevada University, is located in Incline Village, NV. The organization was established in 1969. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sierra Nevada 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 06/2023, Sierra Nevada University generated $181.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (45.8%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2023. 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
TO COMBINE THE LIBERAL ARTS AND PROFESSIONAL PREPAREDNESS THROUGH AN INTERDISCIPLINARY CURRICULUM.
Describe the Organization's Program Activity:
ON JULY 7, 2021, THE BOARD OF TRUSTEES OF THE UNIVERSITY APPROVED A PROPOSED TRANSACTION ALLOWING SIERRA NEVADA UNIVERSITY TO BECOME PART OF THE UNIVERSITY OF NEVADA, RENO (UNR). UNDER THE PROPOSED TRANSACTION, THE UNIVERSITY INCLINE CAMPUS WOULD BECOME PART OF UNR AND UNIVERSITY PROGRAMS AND OPERATIONS WOULD BE GRADUALLY MERGED WITH THOSE OF UNR. THE NEVADA SYSTEM OF HIGHER EDUCATION (NSHE) BOARD OF REGENTS APPROVED THIS PROPOSED TRANSACTION ON JULY 23, 2021. EFFECTIVE JULY 1, 2022, THE ASSETS AND RELATED LIABILITIES WERE ASSIGNED TO THE UNR, EXCEPT FOR THE BENEFICIAL INTEREST IN ASSETS HELD BY A COMMUNITY FOUNDATION AND THE INVESTMENT ACCOUNTS, WHICH WERE TRANSFERRED TO THE UNR FOUNDATION.THE SNU BOARD OF TRUSTEES CONTINUE TO WORK WITH UNR FOUNDATION AND UNR TO PROPERLY TRANSFER THE FOLLOWING REMAINING ASSETS: SARDELLA RESERVE FUND CASH LAND COVERAGEBOTH OF THESE TRANSACTIONS ARE COMPLEX IN NATURE AND TAKING ADDITIONAL TIME. UPON THE SUCCESSFUL TRANSFER OF THE REMAINING ASSETS, THE SNU BOARD OF TRUSTEES, BY WRITTEN CONSENT, WITH DISSOLVE THE CORPORATION. IT IS ANTICIPATED THAT THIS WILL OCCUR BY JUNE 30, 2025.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vic Redding Treasurer | OfficerTrustee | 2 | $0 |
Patricia Richards Secretary | OfficerTrustee | 2 | $0 |
Brian Sandoval Trustee | Trustee | 2 | $0 |
Jeff Thompson Trustee | Trustee | 2 | $0 |
Jill Heaton Trustee | Trustee | 2 | $0 |
Susan Johnson President | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc Food And Facility Services | 6/29/22 | $896,874 |
Ellucian Company Lp Software Support | 6/29/22 | $209,465 |
Oculusit It Support | 6/29/22 | $200,493 |
Ballard Rawson Legal Services | 6/29/22 | $139,806 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,117 |
| Investment income | $85,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $99,653 |
| Net Gain/Loss on Asset Sales | -$21,540 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $316 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $181,913 |
| 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 | $29,161 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,251 |
| Fees for services: Accounting | $136,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,787 |
| Fees for services: Other | $556,819 |
| Advertising and promotion | $0 |
| Office expenses | $31,489 |
| Information technology | $60,378 |
| Royalties | $0 |
| Occupancy | $73,286 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,527,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,111,689 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $42,761 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,350,000 |
| Other assets | $0 |
| Total assets | $2,504,450 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,504,450 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,504,450 |