Form 990 for tax year 2022

Filed by UNIVERSITY OF TOCCOA FALLS INC.

Totals

Total revenue: $28,955,983
Total expenses: $24,472,636
Contributions and grants received: $3,284,055
Grants paid: $5,750,115
Program service revenue: $24,186,888
Investment income: $301,513
Other revenue: $1,183,527
Total assets, end of year: $38,249,614
Total liabilities, end of year: $3,603,992
Net assets or fund balances, end of year: $34,645,622
Program services expenses (Part IX): $21,231,748
Management and general expenses: $2,658,679
Fundraising expenses: $582,209
Program service expenses (Part III): $21,231,748

Program services were 86.8% 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.

1e · Government grants (contributions)

$1,601,141
1f · All other contributions, gifts and grants

$1,682,914
2a · Program service revenue: Tuition & Fees

total $19,492,496 · related or exempt $19,492,496
2b · Program service revenue: Auxiliary

total $4,352,075 · related or exempt $4,181,500 · unrelated business $170,575
2c · Program service revenue: Conferences

total $342,317 · related or exempt $342,317
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $322,020 · excluded $322,020
6a · Gross rents

real property $184,334 · personal property $20,642
6b · Less rental expenses

real property $178,422 · personal property $1,467
6c · Rental income or loss

real property $5,912 · personal property $19,175
6d · Net rental income or loss

total $25,087 · unrelated business $25,087
7a · Gross sales of assets other than inventory

securities $10,204 · other assets $0
7b · Less cost or other basis and sales expenses

securities $10,204 · other assets $20,507
7c · Gain or loss

securities $0 · other assets -$20,507
7d · Net gain or loss

total -$20,507 · excluded -$20,507
11a · Other revenue: Other Income

total $222,832 · excluded $222,832
11b · Other revenue: Employee Retention Credit

total $935,608 · excluded $935,608
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$1,158,440

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $5,750,115 · program services $5,750,115
5 · Compensation of officers, directors and key employees

total $605,699 · program services $145,583 · management and general $460,116
7 · Other salaries and wages

total $7,371,409 · program services $6,675,325 · management and general $510,506 · fundraising $185,578
8 · Pension plan contributions

total $156,088 · program services $145,409 · management and general $8,285 · fundraising $2,394
9 · Other employee benefits

total $1,136,147 · program services $949,111 · management and general $145,643 · fundraising $41,393
10 · Payroll taxes

total $555,312 · program services $499,781 · management and general $44,425 · fundraising $11,106
11b · Fees: legal

total $18,156 · management and general $18,156
11c · Fees: accounting

total $85,707 · management and general $85,707
11e · Fees: professional fundraising services

total $20,490 · fundraising $20,490
11g · Fees: other

total $290,218 · program services $192,414 · management and general $62,916 · fundraising $34,888
12 · Advertising and promotion

total $181,794 · program services $104,645 · fundraising $77,149
13 · Office expenses

total $691,242 · program services $361,109 · management and general $254,860 · fundraising $75,273
14 · Information technology

total $727,690 · program services $363,845 · management and general $363,845
16 · Occupancy

total $485,863 · program services $439,822 · management and general $40,893 · fundraising $5,148
17 · Travel

total $657,040 · program services $606,109 · management and general $19,050 · fundraising $31,881
20 · Interest

total $56,195 · program services $52,143 · management and general $3,586 · fundraising $466
22 · Depreciation, depletion and amortization

total $690,372 · program services $627,181 · management and general $57,651 · fundraising $5,540
23 · Insurance

total $203,615 · program services $52,661 · management and general $150,954
24a · Other expenses: Deferred Maintenance

total $1,839,096 · program services $1,706,468 · management and general $117,366 · fundraising $15,262
24b · Other expenses: Campus Food Service

total $1,577,287 · program services $1,577,287
24c · Other expenses: Repairs and Maintenance

total $269,174 · program services $212,314 · management and general $52,577 · fundraising $4,283
24e · All other expenses

total $1,103,927 · program services $770,426 · management and general $262,143 · fundraising $71,358

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $111,900 · end of year $12,228
2 · Savings and temporary cash investments

beginning of year $13,651,755 · end of year $15,591,717
4 · Accounts receivable

beginning of year $193,124 · end of year $436,376
5 · Loans and receivables from officers and key people

end of year $0
6 · Loans and receivables from disqualified persons

end of year $0
7 · Other notes and loans receivable

beginning of year $58,961 · end of year $45,841
8 · Inventories for sale or use

beginning of year $119,980 · end of year $122,704
9 · Prepaid expenses and deferred charges

beginning of year $506,459 · end of year $405,791
10a · Land, buildings and equipment: cost or other basis

$31,774,482
10b · Land, buildings and equipment: accumulated depreciation

$16,241,529
10c · Land, buildings and equipment, net

beginning of year $15,779,280 · end of year $15,532,953
11 · Investments: publicly traded securities

beginning of year $4,564,215 · end of year $5,976,961
12 · Investments: other securities

beginning of year $52,095 · end of year $3,402
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $116,369 · end of year $121,641
17 · Accounts payable and accrued expenses

beginning of year $1,001,757 · end of year $1,121,644
19 · Deferred revenue

beginning of year $808,613 · end of year $130,898
22 · Loans and payables to officers and key people

end of year $0
23 · Secured mortgages and notes payable

beginning of year $2,894,444 · end of year $1,970,952
25 · Other liabilities

beginning of year $459,568 · end of year $380,498
27 · Net assets without donor restrictions

beginning of year $22,841,246 · end of year $26,513,167
28 · Net assets with donor restrictions

beginning of year $7,148,510 · end of year $8,132,455

Mission and programs · 2022

Mission

The mission of Toccoa Falls College is to glorify God through seeking and developing Christian servant leaders who will impact their world with the love and message of Jesus Christ.

Activities or mission (Part I)

Christian undergraduate and graduate education with residential & non-residential offerings.

Toccoa Falls College offers undergraduate programs in 30 majors and 48 minors to approximately 2,200 residential, commuter, and online students, as well as four graduate programs. The College provides the campus community with food services, residential housing, and a college gift shop. Also, Toccoa Falls College offers student counseling, student activities and student government, intramural recreation, and various other student experiences as co-curricular to their academic experience.

Expenses $21,231,748 · Grants $5,750,115 · Revenue $24,016,313

As filed on the 2022 return.

Listed in Part VII

Janet Webb

Vice Chair/Chair

Total calculated

$0

Hours/week

3
Jeffery Norris

Secretary/Vice Chair

Total calculated

$0

Hours/week

1
John Allen

Chairman (Part Year)

Total calculated

$32,267

From this org

$32,267

From related orgs

$0

Other

$0

Hours/week

3
Paul N Rumery

Trustee/Secretary

Total calculated

$0

Hours/week

2
C David Markle

Trustee

Total calculated

$0

Hours/week

1
David L Austin

Trustee

Total calculated

$0

Hours/week

1
Debra D Ferrell

Trustee (Part Year)

Total calculated

$0

Hours/week

1
Floyd Wheeler

Trustee

Total calculated

$0

Hours/week

1
George Woerner

Trustee

Total calculated

$0

Hours/week

1
Lantzia C Thao

Trustee (Part Year)

Total calculated

$0

Hours/week

1
Mark Herndon

Trustee

Total calculated

$0

Hours/week

1
Michael D Noel

Trustee (Part Year)

Total calculated

$0

Hours/week

1
Ron Cantrell

Trustee

Total calculated

$0

Hours/week

1
T Edwin Mangham

Trustee (Part Year)

Total calculated

$0

Hours/week

1
W Randolph Shirley

Trustee

Total calculated

$0

Hours/week

1
Dee Mooney

VP for Finance

Total calculated

$161,212

From this org

$132,278

From related orgs

$0

Other

$28,934

Hours/week

40

Schedule J breakdown matched by us

Base

$126,962

Bonus

$5,316

Other

$0

Deferred

$6,418

Nontaxable benefits

$22,516

Filer's total

$161,212
Kieran Clements

VP of Academic Affairs

Total calculated

$133,772

From this org

$111,637

From related orgs

$0

Other

$22,135

Hours/week

40
Robert Myers

President

Total calculated

$284,646

From this org

$243,608

From related orgs

$0

Other

$41,038

Hours/week

40

Schedule J breakdown matched by us

Base

$226,028

Bonus

$14,492

Other

$3,088

Deferred

$11,542

Nontaxable benefits

$29,496

Filer's total

$284,646

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 · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation survey or study
3 · Approval by the board or compensation committee
7 · Other non-fixed payments

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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use: Robert Myers, President, receives housing expense reimbursement. This is approved by the board of trustees and treated as taxable compensation.
Schedule J, Part I, Line 7 Non-fixed payments: The independent board of trustees approved a discretionary bonus of 4% of base compensation to all employees.

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.

Provenance

Return type: form_990
Tax year: 2022
Filed: 3 November 2023
IRS schema version: 2022v5.0
Source object: 202333079349302013

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

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