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Nonprofiteer
← HARDING UNIVERSITY

Form 990 for tax year 2022

Filed by HARDING UNIVERSITY.

Totals

Total revenue
$114,513,535
Total expenses
$125,587,337
Contributions and grants received
$19,265,143
Grants paid
$247,173
Program service revenue
$95,034,128
Investment income
$214,264
Other revenue
$0
Total assets, end of year
$475,682,750
Total liabilities, end of year
$71,101,666
Net assets or fund balances, end of year
$404,581,084
Program services expenses (Part IX)
$110,974,928
Management and general expenses
$12,731,332
Fundraising expenses
$1,881,077
Program service expenses (Part III)
$110,974,928

Program services were 88.4% 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)

    $1,975,271

  • 1f · All other contributions, gifts and grants

    $17,289,872

  • 1g · Noncash contributions included above

    $1,802,957

  • 2a · Program service revenue: Tuition Fees

    total $65,957,965 · related or exempt $65,957,965

  • 2b · Program service revenue: Housing

    total $11,762,308 · related or exempt $11,762,308

  • 2c · Program service revenue: Food service

    total $9,515,765 · related or exempt $9,409,335 · unrelated business $106,430

  • 2d · Program service revenue: Bookstore

    total $2,672,912 · related or exempt $2,595,461 · unrelated business $77,451

  • 2e · Program service revenue: Sales and services

    total $1,250,278 · related or exempt $1,250,278

  • 2f · All other program service revenue

    total $3,874,900 · related or exempt $3,580,467 · unrelated business $294,433

  • 3 · Investment income

    total $505,980 · related or exempt $505,980

  • 7a · Gross sales of assets other than inventory

    securities $559,903 · other assets -$851,619

  • 7c · Gain or loss

    securities $559,903 · other assets -$851,619

  • 7d · Net gain or loss

    total -$291,716

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $247,173 · program services $247,173

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $51,832,224 · program services $46,256,116 · management and general $4,571,375 · fundraising $1,004,733

  • 8 · Pension plan contributions

    total $3,458,804 · program services $3,069,625 · management and general $315,671 · fundraising $73,508

  • 9 · Other employee benefits

    total $10,282,770 · program services $9,159,997 · management and general $1,057,665 · fundraising $65,108

  • 10 · Payroll taxes

    total $3,760,280 · program services $3,405,587 · management and general $307,656 · fundraising $47,037

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $91,096 · management and general $91,096

  • 11c · Fees: accounting

    total $129,064 · management and general $129,064

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $73,654 · fundraising $73,654

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $9,380,585 · program services $8,947,239 · management and general $218,686 · fundraising $214,660

  • 12 · Advertising and promotion

    total $1,117,011 · program services $552,285 · management and general $519,400 · fundraising $45,326

  • 13 · Office expenses

    total $6,824,606 · program services $5,639,414 · management and general $999,137 · fundraising $186,055

  • 14 · Information technology

    total $2,707,991 · program services $1,106,146 · management and general $1,601,845

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $6,110,088 · program services $5,951,197 · management and general $158,891

  • 17 · Travel

    total $6,071,964 · program services $5,722,416 · management and general $276,899 · fundraising $72,649

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $402,849 · program services $315,162 · management and general $55,992 · fundraising $31,695

  • 20 · Interest

    total $1,359,691 · program services $1,273,586 · management and general $86,105

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $11,754,533 · program services $11,047,785 · management and general $706,748

  • 23 · Insurance

    total $1,675,166 · program services $1,193,596 · management and general $469,203 · fundraising $12,367

  • 24a · Other expenses: Food

    total $2,476,144 · program services $2,377,030 · management and general $61,886 · fundraising $37,228

  • 24b · Other expenses: Purchase for resale

    total $2,071,859 · program services $2,071,859

  • 24c · Other expenses: Small equipment furnishings

    total $735,117 · program services $668,540 · management and general $62,808 · fundraising $3,769

  • 24e · All other expenses

    total $3,024,668 · program services $1,970,175 · management and general $1,041,205 · fundraising $13,288

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,140,939 · end of year $1,660,525

  • 2 · Savings and temporary cash investments

    beginning of year $2,540,327 · end of year $2,629,238

  • 3 · Pledges and grants receivable

    beginning of year $15,200,675 · end of year $11,769,820

  • 7 · Other notes and loans receivable

    beginning of year $13,073,643 · end of year $15,098,241

  • 8 · Inventories for sale or use

    beginning of year $1,536,949 · end of year $1,562,321

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,385,359 · end of year $1,284,205

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

    $402,529,362

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

    $181,156,538

  • 10c · Land, buildings and equipment, net

    beginning of year $209,325,923 · end of year $221,372,824

  • 11 · Investments: publicly traded securities

    beginning of year $102,444,517 · end of year $86,572,499

  • 15 · Other assets

    beginning of year $124,884,343 · end of year $133,733,077

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,103,684 · end of year $3,413,373

  • 19 · Deferred revenue

    beginning of year $3,814,563 · end of year $3,686,359

  • 20 · Tax-exempt bond liabilities

    beginning of year $19,870,520 · end of year $18,368,346

  • 22 · Loans and payables to officers and key people

    beginning of year $750,000 · end of year $750,000

  • 25 · Other liabilities

    beginning of year $26,339,022 · end of year $44,883,588

  • 27 · Net assets without donor restrictions

    beginning of year $184,318,562 · end of year $184,873,649

  • 28 · Net assets with donor restrictions

    beginning of year $231,336,324 · end of year $219,707,435

Mission and programs · 2022

Mission

Hardings mission is to provide a quality education that will lead to an understanding and philosophy of life consistent with Christian ideals through the integration of faith, learning and living, as well as the development of Christian scholarship, ethics, lasting relationships, wellness and promotion of global citizenship.

Activities or mission (Part I)

Hardings mission is to provide a quality education that will lead to an understanding and philosophy of life consistent with Christian ideals.

  • Higher Education

    Expenses $110,974,928 · Revenue $95,034,128

As filed on the 2022 return.

Listed in Part VII

  • Michael Williams

    President

    Total calculated
    $213,700
    From this org
    $187,069
    From related orgs
    $0
    Other
    $26,631
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $187,069
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,917
    Nontaxable benefits
    $9,714
    Filer's total
    $213,700

  • Michael McGalliard

    Dean CAH/Assoc Provost HS

    Total calculated
    $195,088
    From this org
    $155,656
    From related orgs
    $0
    Other
    $39,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,656
    Bonus
    not reported
    Other
    not reported
    Deferred
    $9,180
    Nontaxable benefits
    $30,252
    Filer's total
    $195,088

  • Tamara Hall

    Secretary/Treasurer

    Total calculated
    $185,695
    From this org
    $144,288
    From related orgs
    $0
    Other
    $41,407
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $144,288
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,323
    Nontaxable benefits
    $26,084
    Filer's total
    $185,695

  • Daniel Atchley

    Professor Pharm Science

    Total calculated
    $184,016
    From this org
    $166,732
    From related orgs
    $0
    Other
    $17,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,732
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,542
    Nontaxable benefits
    $742
    Filer's total
    $184,016

  • Marty Spears

    Provost

    Total calculated
    $182,450
    From this org
    $151,326
    From related orgs
    $0
    Other
    $31,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,326
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,910
    Nontaxable benefits
    $15,214
    Filer's total
    $182,450

  • Jeffrey Morgan

    Athletic Director

    Total calculated
    $175,590
    From this org
    $117,465
    From related orgs
    $0
    Other
    $58,125
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $87,465
    Bonus
    not reported
    Other
    $30,000
    Deferred
    $13,253
    Nontaxable benefits
    $44,873
    Filer's total
    $175,591

  • Julie Hixson-Wallace

    Dean College of Pharmacy

    Total calculated
    $166,811
    From this org
    $146,469
    From related orgs
    $0
    Other
    $20,342
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,469
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,601
    Nontaxable benefits
    $5,740
    Filer's total
    $166,810

  • David Collins

    Dean of Intercultural Education / Director Walton Scholars Program

    Total calculated
    $164,883
    From this org
    $135,917
    From related orgs
    $0
    Other
    $28,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,917
    Bonus
    not reported
    Other
    not reported
    Deferred
    $13,879
    Nontaxable benefits
    $15,088
    Filer's total
    $164,884

  • Jean-Noel Thompson

    Executive Vice President

    Total calculated
    $113,003
    From this org
    $100,948
    From related orgs
    $0
    Other
    $12,055
    Hours/week
    40 + 1 related

  • Bruce McLarty

    President former

    Total calculated
    $109,132
    From this org
    $109,132
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $109,132
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $109,132

  • Timothy Bewley

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Craig Cheatham

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Cochran

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James Cone

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Crews

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Harrell Freeman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Charles Ganus

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Richard Gibson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James Holsombake

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Michael Justus

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Robin Maynard

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Harold Redd

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John Reese

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John Simmons

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Swaid Swaid

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Waldron

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Robert Charles Walker

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Rodney Waller

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Weeks

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joe Wild

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Howard Wright

    Board Member

    Total calculated
    $0
    Hours/week
    1

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 · Tax indemnification and gross-up payments
  • 1a · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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

  • College Church of Christ

    $76,223

    Mission work

  • Eastern European Missions

    $50,000

    Mission work

  • Mission UpReach

    $40,000

    Mission work

  • IHCF African Christian Hospitals

    $30,700

    Mission work

  • Holmes Road Church of Christ

    $14,400

    Mission work

  • Pleasant Valley Church of Christ

    $12,825

    Mission work

  • Trinity International University

    $10,000

    Mission work

  • Gadsen Church of Christ

    $6,548

    Mission work

  • Sunset International Bible Institute

    $6,477

    Mission work

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.

  • Harding Place Inc

    501c3 · Retirement Community · AR · controlled entity

    Directly controlled by Harding University Inc

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HU CRUT - 1

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 2

    Trust · investment · AR · 80% owned

  • HU CRUT - 3

    Trust · investment · AR · 71% owned

    Directly controlled by HU TTEE

  • HU CRUT - 4

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 5

    Trust · investment · AR · 100% owned

  • HU CRUT - 6

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 7

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 8

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 9

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU Trust - 1

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU Trust - 2

    Trust · investment · AR · 100% owned

  • HU Trust - 3

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU Trust - 4

    Trust · investment · AR · 60% owned

    Directly controlled by HU TTEE

  • HU Trust - 5

    Trust · investment · AR · 100% owned

  • HU Trust - 6

    Trust · investment · AR · 100% owned

  • HU Trust - 7

    Trust · investment · AR

  • HU Trust - 8

    Trust · investment · AR

  • HU CRUT - 11

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 12

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

  • HU CRUT - 13

    Trust · investment · AR · 100% owned

    Directly controlled by HU TTEE

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349310717

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