Totals
- Total revenue
- $19,778,605
- Total expenses
- $20,142,447
- Contributions and grants received
- $2,763,003
- Grants paid
- $2,589,249
- Program service revenue
- $16,828,719
- Investment income
- $181,289
- Other revenue
- $5,594
- Total assets, end of year
- $24,739,402
- Total liabilities, end of year
- $5,969,303
- Net assets or fund balances, end of year
- $18,770,099
- Program services expenses (Part IX)
- $15,521,103
- Management and general expenses
- $4,621,344
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $15,521,103
Program services were 77.1% 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)
$1,798,972
-
1f · All other contributions, gifts and grants
$964,031
-
2a · Program service revenue: TUITION AND FEES
total $15,719,556 · related or exempt $15,719,556
-
2b · Program service revenue: AUXILIARY ENTERPRISES
total $1,109,163 · related or exempt $1,109,163
-
3 · Investment income
total $181,289 · related or exempt $181,289
-
10a · Gross sales of inventory
$154,815
-
10b · Cost of goods sold
$149,221
-
10c · Net income from sales of inventory
total $5,594 · related or exempt $5,594
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $2,589,249 · program services $2,589,249
-
5 · Compensation of officers, directors and key employees
total $955,304 · program services $334,281 · management and general $621,023
-
7 · Other salaries and wages
total $7,717,040 · program services $6,804,893 · management and general $912,147
-
8 · Pension plan contributions
total $314,409 · program services $14,269 · management and general $300,140
-
9 · Other employee benefits
total $959,929 · program services $149,165 · management and general $810,764
-
10 · Payroll taxes
total $640,381 · program services $534,671 · management and general $105,710
-
12 · Advertising and promotion
total $245,579 · program services $230,760 · management and general $14,819
-
13 · Office expenses
total $374,069 · program services $250,608 · management and general $123,461
-
16 · Occupancy
total $416,461 · program services $357,143 · management and general $59,318
-
20 · Interest
total $232,874 · program services $172,080 · management and general $60,794
-
22 · Depreciation, depletion and amortization
total $784,905 · program services $580,000 · management and general $204,905
-
23 · Insurance
total $31,522 · management and general $31,522
-
24a · Other expenses: MAINTENANCE EXPENSE
total $1,045,277 · program services $793,602 · management and general $251,675
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $668,831 · program services $288,225 · management and general $380,606
-
24c · Other expenses: MEALS AND ENTERTAINMENT
total $580,848 · program services $541,292 · management and general $39,556
-
24d · Other expenses: SCHOLARSHIP
total $543,262 · program services $543,262
-
24e · All other expenses
total $2,042,507 · program services $1,337,603 · management and general $704,904
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,769,560 · end of year $1,918,316
-
2 · Savings and temporary cash investments
beginning of year $553,617 · end of year $42,558
-
3 · Pledges and grants receivable
beginning of year $115,167 · end of year $159,636
-
4 · Accounts receivable
beginning of year $443,096 · end of year $844,020
-
8 · Inventories for sale or use
beginning of year $44,303 · end of year $58,763
-
9 · Prepaid expenses and deferred charges
beginning of year $15,226 · end of year $11,093
-
10a · Land, buildings and equipment: cost or other basis
$25,570,213
-
10b · Land, buildings and equipment: accumulated depreciation
$10,327,827
-
10c · Land, buildings and equipment, net
beginning of year $14,341,108 · end of year $15,242,386
-
12 · Investments: other securities
beginning of year $6,045,992 · end of year $6,310,196
-
15 · Other assets
beginning of year $54,983 · end of year $152,434
-
17 · Accounts payable and accrued expenses
beginning of year $117,481 · end of year $987,234
-
19 · Deferred revenue
beginning of year $323,086 · end of year $243,673
-
23 · Secured mortgages and notes payable
beginning of year $4,757,907 · end of year $4,550,937
-
25 · Other liabilities
beginning of year $140,632 · end of year $187,459
-
27 · Net assets without donor restrictions
beginning of year $14,427,814 · end of year $14,242,942
-
28 · Net assets with donor restrictions
beginning of year $4,616,132 · end of year $4,527,157
Mission and programs · 2022
Mission
THOMAS UNIVERSITY IS AN INDEPENDENT, NOT FOR PROFIT, INSTITUTION OF HIGHER EDUCATION WITH UNDERGRADUATE AND GRADUATE PROGRAMS THAT PREPARE STUDENTS FOR SUCCESSFUL CAREERS AND RESPONSIBLE CITIZENSHIP IN A RAPIDLY CHANGING AND COMPLEX WORLD.
-
THE PRIMARY EXEMPT PURPOSE OF THOMAS UNIVERSITY IS TO PROVIDE EDUCATIONAL AND GENERAL INSTRUCTION SERVICES THROUGH A DYNAMIC LEARNING ENVIRONMENT. INNOVATIVE MODELS FOR REACHING LEARNERS BY FACULTY AND STAFF. OFFERING ASSOCIATE'S, BACHELOR'S, AND MASTER'S DEGREES, OUR HIGHEST GOAL IS TO PROVIDE AN EDUCATIONAL EXPERIENCE THAT EXPLORES AND DEVELOPS EACH STUDENT'S FULL POTENTIAL. NUMBER OF GRADUATES FOR THE FISCAL YEAR: 563
Expenses $6,580,661 · Grants $2,589,249 · Revenue $15,719,556
-
STUDENT SERVICES - A THOMAS UNIVERSITY EDUCATION INCLUDES CURRICULAR AND CO-CURRICULAR EXPERIENCES WHICH INCREASE THE TRAJECTORY OF A STUDENT'S DEVELOPMENT SOCIALLY, PHYSICALLY, CULTURALLY, AND INTELLECTUALLY. AS A RESULT, THE OVERALL STUDENT EXPERIENCE IS ONE WHICH GIVES STUDENTS THE OPPORTUNITY TO TEST THE THEORETICAL IN REAL WORLD APPLICATIONS, THUS PREPARING THEM FOR LIFE BEYOND HIGHER EDUCATION. THESE SERVICES INCLUDE ATHLETICS, PLACEMENT REGISTRAR, FINANCIAL AID, SECURITY, BUSINESS OFFICE AND OTHER SUPPORT TO CURRENT AND FORMER STUDENTS. ENROLLED STUDENTS MAY BECOME INVOLVED IN ONE OF THE MANY DIFFERENT STUDENT ORGANIZATIONS.
Expenses $5,470,276
-
THE UNIVERSITY CONDUCTED AUXILIARY PROGRAMS FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF, AND THE AT-LARGE COMMUNITY. THESE PROGRAMS CONSIST OF STUDENT HOUSING, FOOD SALES, AND ATHLETIC CAMPS.
Expenses $1,030,138 · Revenue $1,109,163
-
Expenses $2,440,028 · Revenue $186,883
As filed on the 2022 return.
Listed in Part VII
-
Mr Richard ComstockMR RICHARD COMSTOCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Rankin SmithMR RANKIN SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Bryant BeadlesMR BRYANT BEADLES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Phillip DavisMR PHILLIP DAVIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Gene LordMR GENE LORD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Vincent HillMR VINCENT HILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr George Lilly IIMR GEORGE LILLY II
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Clint KadelMR CLINT KADEL
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Chelsie CosbyMRS CHELSIE COSBY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Eve RumbleMRS EVE RUMBLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Wilson CarrawayMR WILSON CARRAWAY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Vann MiddletonMR VANN MIDDLETON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Randy RheaMR RANDY RHEA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ms Kathy VignosMS KATHY VIGNOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Scott RichMR SCOTT RICH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Terry RouseMR TERRY ROUSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Gary TuckerMR GARY TUCKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Pat ChoiceMRS PAT CHOICE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Fortson RumbleMR FORTSON RUMBLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Marvin DawsonMR MARVIN DAWSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Andy SheppardDR ANDY SHEPPARD
PRESIDENT
- Total calculated
- $286,351
- From this org
- $268,464
- From related orgs
- $0
- Other
- $17,887
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $268,464
- Bonus
- $0
- Other
- $0
- Deferred
- $14,139
- Nontaxable benefits
- $3,748
- Filer's total
- $286,351
-
Mr Keith WortmanMR KEITH WORTMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr John K MeisDR JOHN K MEIS
PROVOST
- Total calculated
- $105,309
- From this org
- $98,650
- From related orgs
- $0
- Other
- $6,659
- Hours/week
- 50
-
Mr Randy LivingstonMR RANDY LIVINGSTON
SENIOR VICE PRESIDENT OF FINANCE & ADMINISTRATION
- Total calculated
- $149,427
- From this org
- $140,271
- From related orgs
- $0
- Other
- $9,156
- Hours/week
- 50
-
Dr Robert BohmanDR ROBERT BOHMAN
VICE PRESIDENT OF STUDENT
- Total calculated
- $98,289
- From this org
- $97,540
- From related orgs
- $0
- Other
- $749
- Hours/week
- 50
-
Mrs Susan BackofenMRS SUSAN BACKOFEN
VICE PRESIDENT OF ENROLLMENT MANAGEMENT
- Total calculated
- $145,832
- From this org
- $134,050
- From related orgs
- $0
- Other
- $11,782
- Hours/week
- 50
-
Mrs Susan LynnMRS SUSAN LYNN
CHAIR OF EDUCATION
- Total calculated
- $109,457
- From this org
- $102,691
- From related orgs
- $0
- Other
- $6,766
- Hours/week
- 50
-
Mr Kurt StringfellowMR KURT STRINGFELLOW
VICE PRESIDENT OF INSTITUTIONAL ADVANCEMENT
- Total calculated
- $117,385
- From this org
- $113,637
- From related orgs
- $0
- Other
- $3,748
- Hours/week
- 50
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
- 1a · Personal services (maid, chauffeur, chef)
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 27 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202430889349301703
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