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Nonprofiteer
← UNIVERSITY OF THE CUMBERLANDS INC

Form 990 for tax year 2023

Filed by UNIVERSITY OF THE CUMBERLANDS INC.

Totals

Total revenue
$239,581,568
Total expenses
$153,644,055
Contributions and grants received
$19,104,436
Grants paid
$9,332,894
Program service revenue
$192,852,711
Investment income
$27,131,587
Other revenue
$492,834
Total assets, end of year
$644,884,952
Total liabilities, end of year
$34,835,387
Net assets or fund balances, end of year
$610,049,565
Program services expenses (Part IX)
$144,214,930
Management and general expenses
$7,473,199
Fundraising expenses
$1,955,926
Program service expenses (Part III)
$144,214,930

Program services were 93.9% 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.

  • 1f · All other contributions, gifts and grants

    $19,104,436

  • 2a · Program service revenue: TUITION/FEES

    total $180,253,816 · related or exempt $180,253,816

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $11,671,412 · related or exempt $11,671,412

  • 2c · Program service revenue: DEPARTMENTAL SALES/SERVICES

    total $927,483 · related or exempt $927,483

  • 3 · Investment income

    total $10,475,567 · excluded $10,475,567

  • 6a · Gross rents

    real property $393,934

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $393,934

  • 6d · Net rental income or loss

    total $393,934 · excluded $393,934

  • 7a · Gross sales of assets other than inventory

    securities $16,656,020

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

    securities $0

  • 7c · Gain or loss

    securities $16,656,020

  • 7d · Net gain or loss

    total $16,656,020 · excluded $16,656,020

  • 11a · Other revenue: OTHER REVENUE

    total $98,900 · related or exempt $98,900

  • 11e · Other revenue, total

    $98,900

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $9,332,894 · program services $9,332,894

  • 5 · Compensation of officers, directors and key employees

    total $3,193,954 · management and general $3,193,954

  • 7 · Other salaries and wages

    total $60,252,223 · program services $58,536,657 · management and general $606,223 · fundraising $1,109,343

  • 9 · Other employee benefits

    total $12,126,580 · program services $11,394,211 · management and general $516,239 · fundraising $216,130

  • 11g · Fees: other

    total $1,955,550 · program services $1,955,550

  • 12 · Advertising and promotion

    total $6,646,344 · program services $6,614,763 · management and general $20,000 · fundraising $11,581

  • 14 · Information technology

    total $1,276,820 · program services $976,788 · management and general $171,214 · fundraising $128,818

  • 16 · Occupancy

    total $1,159,563 · program services $1,159,563

  • 17 · Travel

    total $2,532,689 · program services $2,382,121 · management and general $90,707 · fundraising $59,861

  • 22 · Depreciation, depletion and amortization

    total $8,314,603 · program services $8,049,381 · management and general $239,765 · fundraising $25,457

  • 23 · Insurance

    total $1,802,801 · program services $214,658 · management and general $1,588,143

  • 24a · Other expenses: SERVICES

    total $31,036,617 · program services $30,397,917 · management and general $562,926 · fundraising $75,774

  • 24b · Other expenses: PLANT SERVICES

    total $5,092,212 · program services $4,928,369 · management and general $148,117 · fundraising $15,726

  • 24c · Other expenses: WORK STUDY

    total $1,604,618 · program services $1,595,940 · management and general $3,354 · fundraising $5,324

  • 24d · Other expenses: EQUIPMENT

    total $964,974 · program services $964,974

  • 24e · All other expenses

    total $6,351,613 · program services $5,711,144 · management and general $332,557 · fundraising $307,912

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $71,538,830 · end of year $58,376,722

  • 3 · Pledges and grants receivable

    beginning of year $316,840 · end of year $505,258

  • 4 · Accounts receivable

    beginning of year $27,540,267 · end of year $28,978,783

  • 7 · Other notes and loans receivable

    beginning of year $429,277 · end of year -$314,723

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,750 · end of year $1,541,335

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

    $219,434,209

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

    $77,424,673

  • 10c · Land, buildings and equipment, net

    beginning of year $140,245,623 · end of year $142,009,536

  • 12 · Investments: other securities

    beginning of year $268,731,764 · end of year $371,540,040

  • 15 · Other assets

    beginning of year $41,172,670 · end of year $42,248,001

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,810,349 · end of year $8,976,302

  • 19 · Deferred revenue

    beginning of year $25,158,745 · end of year $24,419,924

  • 25 · Other liabilities

    beginning of year $1,772,004 · end of year $1,439,161

  • 27 · Net assets without donor restrictions

    beginning of year $422,676,641 · end of year $499,319,771

  • 28 · Net assets with donor restrictions

    beginning of year $91,623,282 · end of year $110,729,794

Mission and programs · 2023

Mission

OUR MISSION IS TO PROVIDE A QUALITY, AFFORDABLE EDUCATION TO STUDENTS FROM ALL BACKGROUNDS THROUGH BROAD-BASED ACADEMICS. THE INSTITUTION IS GROUNDED IN CHRISTIAN PRINCIPLES AND LEADERSHIP THROUGH SERVICE.

Activities or mission (Part I)

TO PROVIDE A QUALITY, AFFORDABLE EDUCATION TO STUDENTS FROM ALL BACKGROUNDS THROUGH BROAD-BASED ACADEMICS. THE INSTITUTION IS GROUNDED IN CHRISTIAN PRINCIPLES AND LEADERSHIP THROUGH SERVICE.

  • THE UNIVERSITY PROVIDES EXCEPTIONAL EDUCATIONAL SERVICES IN A PRIVATE BAPTIST UNIVERSITY ENVIRONMENT TO STUDENTS AT LESS THAN THE AGGREGATE COST OF THESE SERVICES. SUCH ACTIVITY IS THE PRIMARY PURPOSE FOR WHICH THE UNIVERSITY WAS FORMED. ATHLETICS, SALES, AND AUXILIARY INCOME IS ALSO AN ESSENTIAL COMPONENT OF THE UNIVERSITY'S PRIMARY EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATIONAL SERVICE.

    Expenses $144,214,930 · Grants $9,332,894 · Revenue $192,951,611

As filed on the 2023 return.

Listed in Part VII

  • Mr David Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr John Mark Toby

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Bill Gullett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Lori Lewis

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mr Franklin Greene

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Cookie Henson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Michael Mountjoy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Phillip Armstrong

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Tony Hancock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Joseph Joe Ellison

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr French Harmon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Amanda Walton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Connie Hauser

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Charles Dye

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Oliver Keith Gannon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Marion Forcht

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Rufus Friday

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr David Knock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Lee Bryant

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Larry Brandstetter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Donnie Patrick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Scott Thompson

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Mr Winston Griffin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr John Stewart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Quentin Young

    EXECUTIVE VP FINANCE/CFO

    Total calculated
    $243,158
    From this org
    $209,887
    From related orgs
    $0
    Other
    $33,271
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,887
    Bonus
    $0
    Other
    $0
    Deferred
    $10,084
    Nontaxable benefits
    $23,187
    Filer's total
    $243,158

  • Dr Larry Cockrum

    PRESIDENT/CHIEF EXECUTIVE

    Total calculated
    $1,850,033
    From this org
    $1,795,495
    From related orgs
    $0
    Other
    $54,538
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,795,495
    Bonus
    $0
    Other
    $0
    Deferred
    $13,350
    Nontaxable benefits
    $41,188
    Filer's total
    $1,850,033

  • Dr Jerry Jackson

    CHANCELLOR

    Total calculated
    $278,135
    From this org
    $259,776
    From related orgs
    $0
    Other
    $18,359
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,776
    Bonus
    $0
    Other
    $0
    Deferred
    $10,208
    Nontaxable benefits
    $8,151
    Filer's total
    $278,135

  • Dr Jennifer Simpson

    VP ACADEMIC COMPLIANCE

    Total calculated
    $230,519
    From this org
    $210,076
    From related orgs
    $0
    Other
    $20,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,076
    Bonus
    $0
    Other
    $0
    Deferred
    $7,655
    Nontaxable benefits
    $12,788
    Filer's total
    $230,519

  • Dr Jonathan Shores Jr

    EXECUTIVE VP ENROLLMENT

    Total calculated
    $249,712
    From this org
    $216,226
    From related orgs
    $0
    Other
    $33,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,226
    Bonus
    $0
    Other
    $0
    Deferred
    $8,334
    Nontaxable benefits
    $25,152
    Filer's total
    $249,712

  • Dr Trey Jarboe

    VP ACADEMIC AFFAIRS

    Total calculated
    $237,352
    From this org
    $206,509
    From related orgs
    $0
    Other
    $30,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,509
    Bonus
    $0
    Other
    $0
    Deferred
    $7,656
    Nontaxable benefits
    $23,187
    Filer's total
    $237,352

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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

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.

  • CUMBERLAND WELLNESS PROPERTIES

    501(C)(3) · LEASES EDUCATIONAL PROPERTY TO UNIVERSITY OF THE CUMBERLANDS, INC. · KY · controlled entity

    Directly controlled by UNIVERSITY OF THE CUMBERLANDS INC

  • MOUNTAIN OUTREACH PROGRAM INC

    501(C)(3) · CONSTRUCT HOUSING FOR NEEDY FAMILIES · KY · controlled entity

    Directly controlled by UNIVERSITY OF THE CUMBERLANDS INC

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202511349349300931

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