Form 990 for tax year 2022

Filed by HOLLINS UNIVERSITY CORPORATION.

Totals

Total revenue: $62,720,085
Total expenses: $62,082,589
Contributions and grants received: $7,934,996
Grants paid: $22,197,729
Program service revenue: $39,283,881
Investment income: $14,893,772
Other revenue: $607,436
Total assets, end of year: $364,721,259
Total liabilities, end of year: $5,010,884
Net assets or fund balances, end of year: $359,710,375
Program services expenses (Part IX): $52,090,218
Management and general expenses: $9,094,371
Fundraising expenses: $898,000
Program service expenses (Part III): $52,090,218

Program services were 83.9% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$338,021
1f · All other contributions, gifts and grants

$7,596,975
1g · Noncash contributions included above

$876,686
2a · Program service revenue: STUDENT FEES

total $30,128,190 · related or exempt $30,128,190 · unrelated business $0 · excluded $0
2b · Program service revenue: STUDENT HOUSING

total $5,376,993 · related or exempt $5,376,993 · unrelated business $0 · excluded $0
2c · Program service revenue: STUDENT DINING SERVICES

total $3,321,910 · related or exempt $3,321,910 · unrelated business $0 · excluded $0
2d · Program service revenue: SPONSORED PROGRAMS

total $310,713 · related or exempt $310,713 · unrelated business $0 · excluded $0
2e · Program service revenue: OTHER AUX ENTERPRISES

total $146,075 · related or exempt $138,756 · unrelated business $7,319 · excluded $0
2f · All other program service revenue

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

total $1,259,275 · related or exempt $0 · unrelated business $0 · excluded $1,259,275
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $27,268,994 · other assets $0
7b · Less cost or other basis and sales expenses

securities $13,634,497 · other assets $0
7c · Gain or loss

securities $13,634,497 · other assets $0
7d · Net gain or loss

total $13,634,497 · related or exempt $0 · unrelated business $0 · excluded $13,634,497
8a · Fundraising events: contributions included on line 1c

$0
10a · Gross sales of inventory

$130,989
10b · Cost of goods sold

$71,761
10c · Net income from sales of inventory

total $59,228 · related or exempt $0 · unrelated business $59,228 · excluded $0
11a · Other revenue: OTHER INCOME

total $548,208 · related or exempt $548,208 · unrelated business $0 · excluded $0
11d · All other revenue

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

$548,208

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $21,617,327 · program services $21,617,327
3 · Grants to foreign organizations and individuals

total $580,402 · program services $580,402
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $912,864 · program services $0 · management and general $912,864 · fundraising $0
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $0 · program services $0 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $0 · program services $0 · management and general $0 · fundraising $0
9 · Other employee benefits

total $0 · program services $0 · management and general $0 · fundraising $0
10 · Payroll taxes

total $0 · program services $0 · management and general $0 · fundraising $0
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $0 · program services $0 · management and general $0 · fundraising $0
11c · Fees: accounting

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $0 · program services $0 · management and general $0 · fundraising $0
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $0 · program services $0 · management and general $0 · fundraising $0
13 · Office expenses

total $0 · program services $0 · management and general $0 · fundraising $0
14 · Information technology

total $0 · program services $0 · management and general $0 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $0 · program services $0 · management and general $0 · fundraising $0
17 · Travel

total $0 · program services $0 · management and general $0 · fundraising $0
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $0 · program services $0 · management and general $0 · fundraising $0
20 · Interest

total $0 · program services $0 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $2,627,790 · program services $2,627,790 · management and general $0 · fundraising $0
23 · Insurance

total $0 · program services $0 · management and general $0 · fundraising $0
24a · Other expenses: INSTRUCTIONAL

total $13,856,780 · program services $13,856,780 · management and general $0 · fundraising $0
24b · Other expenses: AUXILLARY & STUDENT SRVCS

total $9,899,270 · program services $9,899,270 · management and general $0 · fundraising $0
24c · Other expenses: INSTUTIONAL SUPPORT

total $6,413,051 · program services $0 · management and general $5,515,051 · fundraising $898,000
24d · Other expenses: ACADEMIC SUPPORT & RESEARCH

total $3,508,649 · program services $3,508,649 · management and general $0 · fundraising $0
24e · All other expenses

total $2,666,456 · program services $0 · management and general $2,666,456 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $22,296,777 · end of year $19,544,731
2 · Savings and temporary cash investments

beginning of year $0 · end of year $0
3 · Pledges and grants receivable

beginning of year $71,523,632 · end of year $41,624,598
4 · Accounts receivable

beginning of year $2,248,005 · end of year $2,349,132
5 · Loans and receivables from officers and key people

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

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

beginning of year $566,523 · end of year $382,010
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$130,421,656
10b · Land, buildings and equipment: accumulated depreciation

$83,942,745
10c · Land, buildings and equipment, net

beginning of year $43,523,961 · end of year $46,478,911
11 · Investments: publicly traded securities

beginning of year $73,425,252 · end of year $81,092,802
12 · Investments: other securities

beginning of year $140,793,555 · end of year $173,043,047
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $0 · end of year $206,028
17 · Accounts payable and accrued expenses

beginning of year $1,623,882 · end of year $2,360,187
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $2,044,080 · end of year $1,926,196
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

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

beginning of year $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $715,080 · end of year $724,501
27 · Net assets without donor restrictions

beginning of year $57,650,590 · end of year $58,592,008
28 · Net assets with donor restrictions

beginning of year $292,344,073 · end of year $301,118,367

Mission and programs · 2022

Mission

HOLLINS UNIVERSITY IS AN INDEPENDENT LIBERAL ARTS UNIVERSITY DEDICATED TO ACADEMIC EXCELLENCE AND HUMANE VALUES. HOLLINS UNIVERSITY OFFERS UNDERGRADUATE LIBERAL ARTS EDUCATION FOR WOMEN, SELECTED GRADUATE PROGRAMS FOR MEN AND WOMEN, AND COMMUNITY OUTREACH INITIATIVES. THE HOLLINS COMMUNITY SUSTAINS TALENTED STUDENTS ENGAGED IN CHALLENGING STUDY, AND PRODUCTIVE SCHOLARS AND ARTISTS DEVOTED TO TEACHING AND TO THE ADVANCEMENT OF KNOWLEDGE. THE HALLMARKS OF A HOLLINS EDUCATION ARE CREATIVITY AND EFFECTIVE SELF-EXPRESSION, PROBLEM SOLVING AND CRITICAL THINKING SKILLS, AND INDEPENDENT INQUIRY AND THE FREE EXCHANGE OF IDEAS. OUR UNIVERSITY MOTTO, LEVAVI OCULOS, CALLS US TO LEADERSHIP AND SERVICE IN ACCORD WITH THE HOLLINS VALUES AND TRADITIONS.

Activities or mission (Part I)

OPERATION OF A PRIVATE, NON-PROFIT UNIVERSITY

HOLLINS UNIVERSITY IS A NONPROFIT INSTITUTION OF HIGHER EDUCATION OFFERING UNDERGRADUATE, GRADUATE, EXCHANGE, AND ABROAD EDUCATION PROGRAMS. THESE PROGRAMS PREPARE OUR STUDENTS FOR LIVES OF ACTIVE LEARNING AND ACHIEVEMENT.

Expenses $52,090,218 · Grants $22,197,729 · Revenue $39,824,770

As filed on the 2022 return.

Listed in Part VII

MARY HINTON

PRESIDENT

Total calculated

$509,700

From this org

$468,727

From related orgs

$0

Other

$40,973

Hours/week

40

Schedule J breakdown matched by us

Base

$387,951

Bonus

$0

Other

$80,776

Deferred

$24,400

Nontaxable benefits

$17,142

Filer's total

$510,269
KERRY EDMONDS

EXECUTIVE VICE PRESIDENT-COO

Total calculated

$315,503

From this org

$264,084

From related orgs

$0

Other

$51,419

Hours/week

40

Schedule J breakdown matched by us

Base

$255,445

Bonus

$0

Other

$8,639

Deferred

$45,300

Nontaxable benefits

$6,883

Filer's total

$316,267
LAURA MCLARY

PROVOST

Total calculated

$228,835

From this org

$203,649

From related orgs

$0

Other

$25,186

Hours/week

40

Schedule J breakdown matched by us

Base

$184,445

Bonus

$0

Other

$19,204

Deferred

$15,300

Nontaxable benefits

$10,258

Filer's total

$229,207
SUZANNE MINK

INTERIM VP OF INSTITUTIONAL ADVANCEMENT

Total calculated

$173,385

From this org

$154,412

From related orgs

$0

Other

$18,973

Hours/week

40

Schedule J breakdown matched by us

Base

$152,867

Bonus

$0

Other

$1,545

Deferred

$12,687

Nontaxable benefits

$6,729

Filer's total

$173,828
ASHLEY BROWNING

VP FOR ENROLLMENT MANAGEMENT

Total calculated

$171,551

From this org

$149,509

From related orgs

$0

Other

$22,042

Hours/week

40

Schedule J breakdown matched by us

Base

$149,439

Bonus

$0

Other

$70

Deferred

$12,800

Nontaxable benefits

$9,735

Filer's total

$172,044
STEVEN LAYMON

VP, GRADUATE PROGRAMS & CONT STUDIES

Total calculated

$150,934

From this org

$134,392

From related orgs

$0

Other

$16,542

Hours/week

40

Schedule J breakdown matched by us

Base

$133,866

Bonus

$0

Other

$526

Deferred

$10,870

Nontaxable benefits

$5,952

Filer's total

$151,214
BILLY FAIRES

EXECUTIVE DIRECTOR, MARKETING & COMMUNICATION

Total calculated

$150,910

From this org

$123,855

From related orgs

$0

Other

$27,055

Hours/week

40

Schedule J breakdown matched by us

Base

$123,772

Bonus

$0

Other

$83

Deferred

$10,482

Nontaxable benefits

$16,988

Filer's total

$151,325
SHEYONN BAKER

SECRETARY OF THE BOARD

Total calculated

$63,705

From this org

$54,148

From related orgs

$0

Other

$9,557

Hours/week

40
CYNTHIA HALE

TRUSTEE

Total calculated

$0

Hours/week

3
ALEXANDRA TROWER

TRUSTEE

Total calculated

$0

Hours/week

3
LUCY DAVIS HAYNES

TRUSTEE

Total calculated

$0

Hours/week

3
ELIZABETH KOLMSTETTER

TRUSTEE

Total calculated

$0

Hours/week

3
ELIZABETH PRITCHARD

TRUSTEE

Total calculated

$0

Hours/week

3
WILLIAM TRINKLE

TRUSTEE

Total calculated

$0

Hours/week

3
SANDRA KOLB

TRUSTEE

Total calculated

$0

Hours/week

3
DUDLEY MACFARLANE

TRUSTEE

Total calculated

$0

Hours/week

3
NATASHA TRETHEWEY

TRUSTEE

Total calculated

$0

Hours/week

3
LESLIE DUNNE KETNER

TRUSTEE

Total calculated

$0

Hours/week

3
SAVON SHELTON SAMPSON

TRUSTEE

Total calculated

$0

Hours/week

3
DEBRA MEADE

CHAIR

Total calculated

$0

Hours/week

3
MARY JOSEPH

TRUSTEE

Total calculated

$0

Hours/week

3
PATRICIA BARMEYER

TRUSTEE

Total calculated

$0

Hours/week

3
CALLIE GRANADE

TRUSTEE

Total calculated

$0

Hours/week

3
PAUL HOLLINGSWORTH

TRUSTEE

Total calculated

$0

Hours/week

3
JOHN POULTON

TRUSTEE

Total calculated

$0

Hours/week

3
JANET NICHOLSON

TRUSTEE

Total calculated

$0

Hours/week

3
ANNE LINDBLAD

TRUSTEE

Total calculated

$0

Hours/week

3
ANTOINETTE HILLIAN

TRUSTEE

Total calculated

$0

Hours/week

3
CYNDA ANN JOHNSON

TRUSTEE

Total calculated

$0

Hours/week

3
SABRINA ROSE-SMITH

TRUSTEE

Total calculated

$0

Hours/week

3
KAREN RABENAU

TRUSTEE

Total calculated

$0

Hours/week

3
C LAROY BRANTLEY

TRUSTEE

Total calculated

$0

Hours/week

3

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 · Travel for companions
1a · Tax indemnification and gross-up payments
1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a: THE PRESIDENT IS PROVIDED HOUSING AND MONTHLY FACILITIES/HOUSEKEEPING SERVICES. TRAVEL IS PAID FOR THE PRESIDENT'S HUSBAND FOR BONA FIDE BUSINESS PURPOSES. THE PRESIDENT AND PROVOST RECEIVED CERTAIN FRINGE BENEFITS INCLUDING DEPENDENT EDUCATIONAL RELATED EXPENSES. CERTAIN FRINGE BENEFITS PROVIDED TO THE EXECUTIVE VICE PRESIDENT/CHIEF OPERATING OFFICER INCLUDE GROSS-UP PAYMENTS FOR RELATED TAXES PAID BY THE UNIVERSITY ON THEIR BEHALF.
Schedule J, Part I, Line 3: SEE SCHEDULE O EXPLANATION FOR PART VI, SECTION B, LINE 15
Schedule J, Part I, Line 4: THE UNIVERSITY HAS A SUPPLEMENTAL DEFERRED COMPENSATION AGREEMENT FOR THE EXECUTIVE VICE PRESIDENT/CHIEF OPERATING OFFICER, WHICH IS AN INELIGIBLE DEFERRED COMPENSATION PLAN FOR PURPOSES OF SECTION 457(F) OF THE INTERNAL REVENUE CODE. AGREEMENT IS EFFECTIVE FOR FISCAL YEARS 2022 -2026. THE UNIVERSITY CONTRIBUTED $25,000 FOR CALENDAR YEAR 2023, WHICH IS NOT PAYABLE UNTIL AFTER THE VESTING DATE OF JUNE 30, 2026.

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: 10 May 2024
IRS schema version: 2022v5.0
Source object: 202431319349300743

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