Skip to content
Nonprofiteer
← GEORGETOWN COLLEGE

Form 990 for tax year 2022

Filed by GEORGETOWN COLLEGE.

Totals

Total revenue
$66,932,324
Total expenses
$70,053,703
Contributions and grants received
$4,847,600
Grants paid
$40,577,374
Program service revenue
$49,661,095
Investment income
$934,411
Other revenue
$11,489,218
Total assets, end of year
$82,678,143
Total liabilities, end of year
$39,852,286
Net assets or fund balances, end of year
$42,825,857
Program services expenses (Part IX)
$57,380,183
Management and general expenses
$11,549,042
Fundraising expenses
$1,124,478
Program service expenses (Part III)
$57,380,183

Program services were 81.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $74,706

  • 1e · Government grants (contributions)

    $583,174

  • 1f · All other contributions, gifts and grants

    $4,189,720

  • 1g · Noncash contributions included above

    $65,632

  • 2a · Program service revenue: TUITION AND FEES

    total $49,661,095 · related or exempt $49,661,095

  • 3 · Investment income

    total $934,411 · excluded $934,411

  • 6a · Gross rents

    real property $439,063

  • 6b · Less rental expenses

    real property $176,769

  • 6c · Rental income or loss

    real property $262,294

  • 6d · Net rental income or loss

    total $262,294 · related or exempt $2,917 · unrelated business -$75,218 · excluded $334,595

  • 8a · Fundraising events: gross income

    $5,940

  • 8a · Fundraising events: contributions included on line 1c

    $74,706

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $5,940 · excluded $5,940

  • 10a · Gross sales of inventory

    $6,147,781

  • 10b · Cost of goods sold

    $2,767,732

  • 10c · Net income from sales of inventory

    total $3,380,049 · related or exempt $3,380,049

  • 11a · Other revenue: AUXILIARY ENTERPRISES REVENUE

    total $6,472,972 · related or exempt $6,472,972

  • 11b · Other revenue: OTHER INSTITUTIONAL PROGRAMS

    total $996,839 · related or exempt $996,839

  • 11c · Other revenue: OTHER REVENUE

    total $278,474 · related or exempt $272,570 · unrelated business $5,904

  • 11d · All other revenue

    total $92,650 · unrelated business $3,584 · excluded $89,066

  • 11e · Other revenue, total

    $7,840,935

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $40,577,374 · program services $40,577,374

  • 5 · Compensation of officers, directors and key employees

    total $1,250,541 · management and general $1,162,064 · fundraising $88,477

  • 7 · Other salaries and wages

    total $11,287,005 · program services $10,438,379 · management and general $228,591 · fundraising $620,035

  • 8 · Pension plan contributions

    total $177,482 · program services $165,356 · management and general $2,552 · fundraising $9,574

  • 9 · Other employee benefits

    total $824,858 · program services $711,986 · management and general $64,656 · fundraising $48,216

  • 10 · Payroll taxes

    total $858,981 · program services $717,878 · management and general $92,488 · fundraising $48,615

  • 11b · Fees: legal

    total $158,711 · management and general $158,711

  • 11c · Fees: accounting

    total $55,675 · management and general $55,675

  • 11f · Fees: investment management

    total $116,440 · management and general $116,440

  • 11g · Fees: other

    total $3,838,381 · program services $1,270,460 · management and general $2,452,363 · fundraising $115,558

  • 12 · Advertising and promotion

    total $159,991 · program services $117,594 · management and general $1,787 · fundraising $40,610

  • 13 · Office expenses

    total $96,043 · program services $28,044 · fundraising $67,999

  • 16 · Occupancy

    total $2,012,196 · program services $292,544 · management and general $1,704,352 · fundraising $15,300

  • 17 · Travel

    total $1,232,699 · program services $1,152,164 · management and general $73,058 · fundraising $7,477

  • 20 · Interest

    total $1,247,714 · management and general $1,247,714

  • 22 · Depreciation, depletion and amortization

    total $2,117,350 · management and general $2,117,350

  • 23 · Insurance

    total $773,378 · program services $172,511 · management and general $600,867

  • 24a · Other expenses: SUPPLIES

    total $1,274,190 · program services $871,314 · management and general $340,854 · fundraising $62,022

  • 24b · Other expenses: OTHER OPERATING EXPENSE

    total $840,301 · program services $398,478 · management and general $441,823

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $777,039 · program services $456,454 · management and general $319,990 · fundraising $595

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $377,354 · program services $9,647 · management and general $367,707

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,187,514 · end of year $1,858,539

  • 2 · Savings and temporary cash investments

    beginning of year $65,300 · end of year $65,300

  • 3 · Pledges and grants receivable

    beginning of year $850,000 · end of year $350,000

  • 4 · Accounts receivable

    beginning of year $1,688,602 · end of year $1,527,595

  • 8 · Inventories for sale or use

    beginning of year $4,809 · end of year $440

  • 9 · Prepaid expenses and deferred charges

    beginning of year $247,671 · end of year $190,176

  • 10a · Land, buildings and equipment: cost or other basis

    $105,915,074

  • 10b · Land, buildings and equipment: accumulated depreciation

    $67,242,189

  • 10c · Land, buildings and equipment, net

    beginning of year $39,710,282 · end of year $38,672,885

  • 11 · Investments: publicly traded securities

    beginning of year $33,291,201 · end of year $32,166,912

  • 15 · Other assets

    beginning of year $8,769,862 · end of year $7,846,296

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,318,257 · end of year $4,719,238

  • 19 · Deferred revenue

    beginning of year $2,586,302 · end of year $2,550,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $31,670,000 · end of year $29,165,000

  • 23 · Secured mortgages and notes payable

    beginning of year $178,850 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,265,766 · end of year $3,418,048

  • 27 · Net assets without donor restrictions

    beginning of year -$3,197,524 · end of year -$6,171,014

  • 28 · Net assets with donor restrictions

    beginning of year $46,993,590 · end of year $48,996,871

Mission and programs · 2022

Mission

GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING LOCATED IN GEORGETOWN, KENTUCKY. THE COLLEGE IS COMMITTED TO PROVIDING OPPORTUNITIES FOR EXCELLENCE IN HIGHER LEARNING UNDER CHRISTIAN INFLUENCES SO AS TO AFFORD ITS STUDENTS A QUALITY EDUCATION IN SELECTED BRANCHES OF KNOWLEDGE, ESPECIALLY THE LIBERAL ARTS AND SCIENCES, WITH A HEALTHY INTEREST IN THE PROFESSIONS.

Activities or mission (Part I)

GEORGETOWN COLLEGE IS A FULLY ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER LEARNING

  • OPERATION OF A HIGHER EDUCATIONAL INSTITUTION PROVIDING EDUCATION, HOUSING, AND FOOD SERVICES TO STUDENTS AND FACULTY. THE COLLEGE EDUCATED 1,293 UNDERGRADUATE AND 385 GRADUATE STUDENTS FOR THE YEAR ENDED 6/30/23.

    Expenses $57,380,183 · Grants $40,577,374 · Revenue $61,176,442

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Adkisson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Robert Baker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Tucker Ballinger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John Blackburn

    TRUSTEE (PARTIAL YEAR)

    Total calculated
    $0
    Hours/week
    2

  • Granetta Blevins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Tracy Clark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sharon Clifton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John Cochenour

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Nicole Collinson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jane Cutter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kenny Davis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Vickie Glisson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • William Houston

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Melanie Ladd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David Lee

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mike Lukemire

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Missy Matthews

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Robert Mills Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Susan Moss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Gerald Parker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michelle Pedigo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Frank Penn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lydia Samples Mattison

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dustin Stacy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John Travis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Craig Wallace

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John Ward

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Meocha Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sarah Bookie Wilson

    TRUSTEE (PARTIAL YEAR)

    Total calculated
    $0
    Hours/week
    2

  • Guthrie Zaring

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Guthrie True

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rosemary Allen

    PRESIDENT

    Total calculated
    $299,576
    From this org
    $294,281
    From related orgs
    $0
    Other
    $5,295
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $294,281
    Bonus
    $0
    Other
    $0
    Deferred
    $5,295
    Nontaxable benefits
    $0
    Filer's total
    $299,576

  • Rush Sherman

    CFO/TREASURER

    Total calculated
    $178,055
    From this org
    $171,206
    From related orgs
    $0
    Other
    $6,849
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $171,206
    Bonus
    $0
    Other
    $0
    Deferred
    $2,529
    Nontaxable benefits
    $4,320
    Filer's total
    $178,055

  • John Davis

    VP FOR INSTITUTIONAL ADVANCEMENT

    Total calculated
    $165,648
    From this org
    $162,400
    From related orgs
    $0
    Other
    $3,248
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $162,400
    Bonus
    $0
    Other
    $0
    Deferred
    $3,248
    Nontaxable benefits
    $0
    Filer's total
    $165,648

  • Brian Evans

    ATHLETIC DIRECTOR

    Total calculated
    $132,261
    From this org
    $124,830
    From related orgs
    $0
    Other
    $7,431
    Hours/week
    50

  • Jonathan Sands Wise

    PROVOST

    Total calculated
    $122,798
    From this org
    $114,046
    From related orgs
    $0
    Other
    $8,752
    Hours/week
    50

  • Linda Olsen

    VP OF ENROLLMENT MANAGEMENT

    Total calculated
    $108,377
    From this org
    $103,317
    From related orgs
    $0
    Other
    $5,060
    Hours/week
    50

  • Curtis Sandberg

    DEAN OF STUDENTS

    Total calculated
    $106,073
    From this org
    $98,675
    From related orgs
    $0
    Other
    $7,398
    Hours/week
    50

  • Sally Wiatrowski

    VP FOR BUSINESS OPERATIONS

    Total calculated
    $78,449
    From this org
    $76,813
    From related orgs
    $0
    Other
    $1,636
    Hours/week
    50

  • Leah Stubbs

    SECRETARY TO THE BOARD OF TRUSTEES

    Total calculated
    $60,475
    From this org
    $59,220
    From related orgs
    $0
    Other
    $1,255
    Hours/week
    50

  • Bethany Langdon

    VP FOR ADVANCEMENT & COMMUNICATIONS

    Total calculated
    $57,771
    From this org
    $55,303
    From related orgs
    $0
    Other
    $2,468
    Hours/week
    50

  • Christopher Briggs

    HEAD BASKETBALL COACH

    Total calculated
    $106,712
    From this org
    $104,572
    From related orgs
    $0
    Other
    $2,140
    Hours/week
    50

  • Christopher Oliver

    HEAD FOOTBALL COACH

    Total calculated
    $131,247
    From this org
    $122,923
    From related orgs
    $0
    Other
    $8,324
    Hours/week
    50

  • William Cronin

    FORMER HEAD FOOTBALL COACH

    Total calculated
    $126,295
    From this org
    $123,752
    From related orgs
    $0
    Other
    $2,543
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $123,752
    Deferred
    $1,238
    Nontaxable benefits
    $1,305
    Filer's total
    $126,295

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
FIRST CLASS OR CHARTER TRAVEL IS PROVIDED ONLY IN CERTAIN LIMITED SITUATIONS. THE PRESIDENT'S SPOUSE SOMETIMES ACCOMPANIES THE PRESIDENT ON OFFICIAL BUSINESS FOR THE COLLEGE. IN THOSE INSTANCES, THE COLLEGE WILL SOMETIMES PAY THE TRAVEL EXPENSES. CERTAIN FRINGE BENEFITS ARE GROSSED UP FOR TAX TREATMENT. THE COLLEGE PAYS THE SOCIAL CLUB DUES FOR THE PRESIDENT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER UNITRUST

    BENEFICIAL TRUST · KY

  • CHARITABLE REMAINDER ANNUITY TRUST

    BENEFICIAL TRUST · KY

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441369349303054

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.