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Nonprofiteer
← GUILFORD COLLEGE

Form 990 for tax year 2024

Filed by GUILFORD COLLEGE.

Totals

Total revenue
$63,458,663
Total expenses
$64,603,787
Contributions and grants received
$8,637,352
Grants paid
$22,760,265
Program service revenue
$45,593,084
Investment income
$8,110,749
Other revenue
$1,117,478
Total assets, end of year
$194,966,573
Total liabilities, end of year
$75,556,448
Net assets or fund balances, end of year
$119,410,125
Program services expenses (Part IX)
$55,356,997
Management and general expenses
$7,965,122
Fundraising expenses
$1,281,668
Program service expenses (Part III)
$55,356,997

Program services were 85.7% 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)

    $1,781,418

  • 1f · All other contributions, gifts and grants

    $6,855,934

  • 1g · Noncash contributions included above

    $546,989

  • 2a · Program service revenue: TUITION & FEES

    total $37,785,641 · related or exempt $37,785,641

  • 2b · Program service revenue: ROOM & BOARD

    total $7,697,078 · related or exempt $7,697,078

  • 2c · Program service revenue: OTHER EDUCATIONAL FEES

    total $110,365 · related or exempt $110,365

  • 3 · Investment income

    total $1,115,358 · excluded $1,115,358

  • 7a · Gross sales of assets other than inventory

    securities $6,994,224 · other assets $24,539

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $23,372

  • 7c · Gain or loss

    securities $6,994,224 · other assets $1,167

  • 7d · Net gain or loss

    total $6,995,391 · related or exempt $1,167 · excluded $6,994,224

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,117,478 · related or exempt $1,117,478

  • 11e · Other revenue, total

    $1,117,478

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $22,760,265 · program services $22,760,265

  • 5 · Compensation of officers, directors and key employees

    total $1,521,600 · management and general $1,521,600

  • 7 · Other salaries and wages

    total $14,613,645 · program services $11,735,195 · management and general $2,247,999 · fundraising $630,451

  • 8 · Pension plan contributions

    total $793,604 · program services $560,839 · management and general $200,207 · fundraising $32,558

  • 9 · Other employee benefits

    total $2,354,325 · program services $1,752,086 · management and general $510,841 · fundraising $91,398

  • 10 · Payroll taxes

    total $1,196,386 · program services $843,817 · management and general $306,367 · fundraising $46,202

  • 11f · Fees: investment management

    total $208,992 · management and general $208,992

  • 17 · Travel

    total $416,848 · program services $268,563 · management and general $127,112 · fundraising $21,173

  • 20 · Interest

    total $2,378,596 · program services $1,382,235 · management and general $874,202 · fundraising $122,159

  • 22 · Depreciation, depletion and amortization

    total $5,077,263 · program services $4,919,198 · management and general $118,549 · fundraising $39,516

  • 24a · Other expenses: CONTRACT SERVICES

    total $5,165,720 · program services $1,914,272 · management and general $3,035,794 · fundraising $215,654

  • 24b · Other expenses: INTERNAL SERVICES

    total $3,824,484 · program services $3,829,242 · management and general -$17,816 · fundraising $13,058

  • 24c · Other expenses: UTILITIES AND PLANT SER

    total $1,975,530 · program services $374 · management and general $1,975,156

  • 24d · Other expenses: SUPPLIES

    total $1,002,929 · program services $686,437 · management and general $288,682 · fundraising $27,810

  • 24e · All other expenses

    total $1,313,600 · program services $4,704,474 · management and general -$3,432,563 · fundraising $41,689

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,625 · end of year $1,625

  • 2 · Savings and temporary cash investments

    beginning of year $2,736,846 · end of year $9,403,939

  • 3 · Pledges and grants receivable

    beginning of year $1,813,123 · end of year $1,252,369

  • 4 · Accounts receivable

    beginning of year $3,323,687 · end of year $391,980

  • 7 · Other notes and loans receivable

    beginning of year $6,601,809 · end of year $6,782,534

  • 8 · Inventories for sale or use

    beginning of year $30,432 · end of year $25,670

  • 9 · Prepaid expenses and deferred charges

    beginning of year $413,832 · end of year $282,613

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

    $169,198,415

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

    $78,431,227

  • 10c · Land, buildings and equipment, net

    beginning of year $94,713,606 · end of year $90,767,188

  • 11 · Investments: publicly traded securities

    beginning of year $57,790,433 · end of year $58,476,534

  • 12 · Investments: other securities

    beginning of year $22,493,832 · end of year $22,469,534

  • 15 · Other assets

    beginning of year $5,576,798 · end of year $5,112,587

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,989,353 · end of year $1,611,978

  • 19 · Deferred revenue

    beginning of year $216,924 · end of year $216,923

  • 20 · Tax-exempt bond liabilities

    beginning of year $60,558,388 · end of year $59,248,388

  • 23 · Secured mortgages and notes payable

    end of year $8,296,305

  • 24 · Unsecured notes and loans payable

    beginning of year $10,089,305

  • 25 · Other liabilities

    beginning of year $8,462,256 · end of year $6,182,854

  • 27 · Net assets without donor restrictions

    beginning of year $26,101,740 · end of year $30,303,054

  • 28 · Net assets with donor restrictions

    beginning of year $88,078,057 · end of year $89,107,071

Mission and programs · 2024

Mission

TO PROVIDE A TRANSFORMATIVE, PRACTICAL, AND EXCELLENT LIBERAL ARTS EDUCATION THAT PRODUCES CRITICAL THINKERS IN AN INCLUSIVE, DIVERSE ENVIRONMENT, GUIDED BY QUAKER TESTIMONIES OF COMMUNITY, EQUALITY, INTEGRITY, PEACE, AND SIMPLICITY AND EMPHASIZING THE CREATIVE PROBLEM SOLVING SKILLS, EXPERIENCE, ENTHUSIASM AND INTERNATIONAL PERSPECTIVES NECESSARY TO PROMOTE POSITIVE CHANGE IN THE WORLD.

Activities or mission (Part I)

TO PROVIDE A TRANSFORMATIVE, PRACTICAL, AND EXCELLENT LIBERAL ARTS EDUCATION THAT PRODUCES CRITICAL THINKERS IN AN INCLUSIVE, DIVERSE ENVIRONMENT, GUIDED BY QUAKER TESTIMONIES OF COMMUNITY, EQUALITY, INTEGRITY, PEACE AND SIMPLICITY AND EMPHASIZING THE CREATIVE PROBLEM SOLVING SKILLS, EXPERIENCE, ENTHUSIASM, AND INTERNATIONAL PERSPECTIVES NECESSARY TO PROMOTE POSITIVE CHANGE IN THE WORLD.

  • PROVIDED EDUCATIONAL OPPORTUNITIES FOR 972 STUDENTS AT THE UNDERGRADUATE LEVEL. GUILFORD HAS A DIVERSE STUDY BODY THAT INCLUDES TRADITIONAL, TRANSFER AUDIT AND EARLY COLLEGE STUDENTS. IN ADDITION, THERE'S THE WISER JUSTICE PROGRAM, WHICH PROVIDES INCARCERATED INDIVIDUALS THE OPPORTUNITY TO EARN COLLEGE CREDITS BY TAKING COURSES TAUGHT BY GUILFORD PROFESSORS. 12:1 STUDENT-TO FACULTY RATIO, AN AVERAGE CLASS SIZE OF 17 STUDENTS MEANS STUDENTS RECEIVE INDIVIDUAL ATTENTION FROM EXCEPTIONALLY ACCOMPLISHED FACULTY WHO KNOW THEIR FIELDS. IN ADDITION, GUILFORD COLLEGE HAS THREE GRADUATE PROGRAMS: MASTERS OF BUSINESS MANAGEMENT, MASTER OF CRIMINAL JUSTICE, AND MASTER OF INTERNATIONAL SPORT MANAGEMENT.

    Expenses $55,356,997 · Grants $22,760,265 · Revenue $46,711,729

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daniel D Mosca

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Wendy G Corbett

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Frederick H Taylor

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Samer Atiani

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Carla Brenner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Suresh Chandra

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Shannon Craigo-Snell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Bill Davis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Glynis Hill-Chandler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Harrison Hickman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David J Hopkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • D Brennen Keene

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ronnie Lowenstein

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brian Lowit

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Paula Barnes Sours

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Darryl Spivey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Grace E Terrell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Johnny Wood

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kyle Farmbry

    PRESIDENT

    Total calculated
    $266,409
    From this org
    $247,194
    From related orgs
    $0
    Other
    $19,215
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,194
    Bonus
    $0
    Other
    $0
    Deferred
    $9,600
    Nontaxable benefits
    $9,615
    Filer's total
    $266,409

  • John Wilkinson

    CFO & VP FOR ADMINISTRATIO

    Total calculated
    $181,837
    From this org
    $154,437
    From related orgs
    $0
    Other
    $27,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,437
    Bonus
    $0
    Other
    $0
    Deferred
    $6,664
    Nontaxable benefits
    $20,736
    Filer's total
    $181,837

  • Maria Rosales

    PROVOST

    Total calculated
    $164,855
    From this org
    $148,838
    From related orgs
    $0
    Other
    $16,017
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,838
    Bonus
    $0
    Other
    $0
    Deferred
    $5,989
    Nontaxable benefits
    $10,028
    Filer's total
    $164,855

  • Raymond Buckner

    VP OF MARKETING & COMMUNIC

    Total calculated
    $137,092
    From this org
    $122,271
    From related orgs
    $0
    Other
    $14,821
    Hours/week
    40

  • Ladaniel Gatling

    VP OF ADVANCEMENT

    Total calculated
    $173,943
    From this org
    $146,793
    From related orgs
    $0
    Other
    $27,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,793
    Bonus
    $0
    Other
    $0
    Deferred
    $6,426
    Nontaxable benefits
    $20,724
    Filer's total
    $173,943

  • Erickia Elbert

    DIRECTOR OF HUMAN RESOURCES/PAYROLL

    Total calculated
    $114,807
    From this org
    $100,827
    From related orgs
    $0
    Other
    $13,980
    Hours/week
    40

  • William Foti

    DIRECTOR OF ATHLETICS

    Total calculated
    $123,977
    From this org
    $99,030
    From related orgs
    $0
    Other
    $24,947
    Hours/week
    40

  • Meredith Summers

    CHIEF OF STAFF AND BOT SEC

    Total calculated
    $126,594
    From this org
    $112,314
    From related orgs
    $0
    Other
    $14,280
    Hours/week
    40

  • Kathryn Shields

    PROFESSOR OF ART/ASSOC ACA

    Total calculated
    $104,477
    From this org
    $86,467
    From related orgs
    $0
    Other
    $18,010
    Hours/week
    40

  • Steven Mencarini

    DEAN OF STUDENTS

    Total calculated
    $110,792
    From this org
    $92,284
    From related orgs
    $0
    Other
    $18,508
    Hours/week
    40

  • Danielle Pfaff

    ASSOCIATE VP FINANCE & CON

    Total calculated
    $158,072
    From this org
    $142,338
    From related orgs
    $0
    Other
    $15,734
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,338
    Bonus
    $0
    Other
    $0
    Deferred
    $5,774
    Nontaxable benefits
    $9,960
    Filer's total
    $158,072

  • William Wooden

    VP OF ENROLLMENT MANAGEMENT

    Total calculated
    $60,388
    From this org
    $48,895
    From related orgs
    $0
    Other
    $11,493
    Hours/week
    40

  • Diya Abdo

    PROFESSOR OF ENGLISH

    Total calculated
    $142,237
    From this org
    $117,412
    From related orgs
    $0
    Other
    $24,825
    Hours/week
    40

  • Michael Dutch

    PROFESSOR OF BUSINESS MANA

    Total calculated
    $122,734
    From this org
    $104,109
    From related orgs
    $0
    Other
    $18,625
    Hours/week
    40

  • David Hildreth

    PROFESSOR OF EDUCATION STU

    Total calculated
    $138,216
    From this org
    $114,202
    From related orgs
    $0
    Other
    $24,014
    Hours/week
    40

  • Will Pizio

    PROFESSOR OF JUSTICE & POL

    Total calculated
    $118,440
    From this org
    $105,147
    From related orgs
    $0
    Other
    $13,293
    Hours/week
    40

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
  • 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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

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
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202543149349301449

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