Totals
- Total revenue
- $66,549,803
- Total expenses
- $62,951,695
- Contributions and grants received
- $11,893,063
- Grants paid
- $21,703,349
- Program service revenue
- $50,461,940
- Investment income
- $2,709,093
- Other revenue
- $1,485,707
- Total assets, end of year
- $184,366,354
- Total liabilities, end of year
- $13,796,728
- Net assets or fund balances, end of year
- $170,569,626
- Program services expenses (Part IX)
- $55,495,875
- Management and general expenses
- $6,202,502
- Fundraising expenses
- $1,253,318
- Program service expenses (Part III)
- $55,495,875
Program services were 88.2% 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)
$14,342
-
1f · All other contributions, gifts and grants
$11,878,721
-
1g · Noncash contributions included above
$1,276,791
-
2a · Program service revenue: TUITION & FEES
total $41,144,781 · related or exempt $41,144,781
-
2b · Program service revenue: AUXILIARY INCOME
total $9,317,159 · related or exempt $9,317,159
-
3 · Investment income
total $3,124,978 · unrelated business $2,345 · excluded $3,122,633
-
6a · Gross rents
real property $183,382
-
6b · Less rental expenses
real property $76,778
-
6c · Rental income or loss
real property $106,604
-
6d · Net rental income or loss
total $106,604 · excluded $106,604
-
7a · Gross sales of assets other than inventory
securities $16,906,770 · other assets $119,023
-
7b · Less cost or other basis and sales expenses
securities $17,422,579 · other assets $19,099
-
7c · Gain or loss
securities -$515,809 · other assets $99,924
-
7d · Net gain or loss
total -$415,885 · excluded -$415,885
-
10a · Gross sales of inventory
$172,401
-
10b · Cost of goods sold
$81,499
-
10c · Net income from sales of inventory
total $90,902 · related or exempt $90,902
-
11a · Other revenue: CONTRACTS & OTHER EXCHANGE TRANSA
total $1,170,277 · related or exempt $1,170,277
-
11b · Other revenue: LUCE CENTER
total $117,924 · related or exempt $64,946 · unrelated business $52,978
-
11e · Other revenue, total
$1,288,201
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $21,703,349 · program services $21,703,349
-
5 · Compensation of officers, directors and key employees
total $1,024,764 · program services $333,284 · management and general $691,480
-
7 · Other salaries and wages
total $17,085,266 · program services $13,483,227 · management and general $2,872,842 · fundraising $729,197
-
8 · Pension plan contributions
total $457,189 · program services $358,384 · management and general $77,671 · fundraising $21,134
-
9 · Other employee benefits
total $3,148,496 · program services $2,422,865 · management and general $584,646 · fundraising $140,985
-
10 · Payroll taxes
total $1,261,076 · program services $949,148 · management and general $257,604 · fundraising $54,324
-
11b · Fees: legal
total $89,043 · management and general $89,043
-
11c · Fees: accounting
total $94,029 · management and general $94,029
-
11f · Fees: investment management
total $264,228 · management and general $264,228
-
11g · Fees: other
total $198,189 · program services $196,812 · management and general $1,377
-
12 · Advertising and promotion
total $512,928 · program services $359,904 · management and general $145,780 · fundraising $7,244
-
13 · Office expenses
total $144,455 · program services $86,060 · management and general $35,157 · fundraising $23,238
-
14 · Information technology
total $1,191,416 · program services $929,558 · management and general $186,194 · fundraising $75,664
-
16 · Occupancy
total $3,850,765 · program services $3,693,690 · management and general $151,390 · fundraising $5,685
-
17 · Travel
total $955,664 · program services $775,715 · management and general $113,017 · fundraising $66,932
-
19 · Conferences, conventions and meetings
total $60,291 · program services $49,850 · management and general $10,441
-
20 · Interest
total $492,143 · program services $322,984 · management and general $169,159
-
22 · Depreciation, depletion and amortization
total $4,158,910 · program services $3,980,173 · management and general $178,737
-
23 · Insurance
total $656,091 · program services $575,619 · management and general $80,472
-
24a · Other expenses: AUXILIARY SERVICES
total $2,816,999 · program services $2,816,999
-
24b · Other expenses: STUDENT SERVICES
total $1,734,104 · program services $1,734,104
-
24c · Other expenses: OTHER
total $1,052,300 · program services $724,150 · management and general $199,235 · fundraising $128,915
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,320,699 · end of year $4,489,048
-
2 · Savings and temporary cash investments
beginning of year $4,409,503 · end of year $842,682
-
3 · Pledges and grants receivable
beginning of year $2,340,649 · end of year $5,121,621
-
4 · Accounts receivable
beginning of year $569,954 · end of year $743,470
-
7 · Other notes and loans receivable
beginning of year $1,533,238 · end of year $1,344,493
-
8 · Inventories for sale or use
beginning of year $225,540 · end of year $272,020
-
9 · Prepaid expenses and deferred charges
beginning of year $151,713 · end of year $239,855
-
10a · Land, buildings and equipment: cost or other basis
$171,876,326
-
10b · Land, buildings and equipment: accumulated depreciation
$85,591,708
-
10c · Land, buildings and equipment, net
beginning of year $83,469,832 · end of year $86,284,618
-
11 · Investments: publicly traded securities
beginning of year $56,141,090 · end of year $62,386,706
-
12 · Investments: other securities
beginning of year $21,501,387 · end of year $22,271,121
-
15 · Other assets
beginning of year $973,988 · end of year $370,720
-
17 · Accounts payable and accrued expenses
beginning of year $2,565,927 · end of year $2,391,040
-
19 · Deferred revenue
beginning of year $725,215 · end of year $793,040
-
20 · Tax-exempt bond liabilities
beginning of year $4,928,257 · end of year $4,581,966
-
23 · Secured mortgages and notes payable
beginning of year $5,028,212 · end of year $4,711,239
-
25 · Other liabilities
beginning of year $1,500,937 · end of year $1,319,443
-
27 · Net assets without donor restrictions
beginning of year $85,107,843 · end of year $90,143,931
-
28 · Net assets with donor restrictions
beginning of year $76,781,202 · end of year $80,425,695
Mission and programs · 2023
Mission
ASBURY UNIVERSITY EQUIPS STUDENTS, THROUGH ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY, FOR LIFELONG LEARNING, LEADERSHIP, AND SERVICE TO THE PROFESSIONS, SOCIETY, THE FAMILY AND THE CHURCH, PREPARING THEM TO ENGAGE THEIR CULTURES AND ADVANCE THE CAUSE OF CHRIST WORLDWIDE.
Activities or mission (Part I)
A CHRISTIAN LIBERAL ARTS UNIVERSITY COMMITTED TO ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY, EQUIPPING STUDENTS FOR A LIFETIME OF LEARNING, LEADERSHIP, AND SERVICE.
-
ASBURY UNIVERSITY IS A CHRISTIAN LIBERAL ARTS UNIVERSITY. THE COLLEGE WAS FOUNDED IN 1890 AND IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS, THE NATIONAL ASSOCATION OF SCHOOLS OF MUSIC, AND THE TEACHER EDUCATION PROGRAM BY THE KENTUCKY DEPARTMENT OF EDUCATION. THE COLLEGE OPERATES A MAIN CAMPUS IN WILMORE, KY AND A VIRTUAL CAMPUS FOR ON-LINE LEARNING, PROVIDING EDUCATION FOR APPROXIMATELY 1,927 STUDENTS.
Expenses $55,495,875 · Grants $21,703,349 · Revenue $51,788,065
As filed on the 2023 return.
Listed in Part VII
-
Larry D BrownLARRY D BROWN
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
Timothy A ShellTIMOTHY A SHELL
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Sarah L LuceSARAH L LUCE
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Aaron P AmmermanAARON P AMMERMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jorge AcevedoJORGE ACEVEDO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Rob L AukermanROB L AUKERMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Lisa L AusleyLISA L AUSLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ron BallRON BALL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Elaine A BerniusELAINE A BERNIUS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Andrew J ColemanANDREW J COLEMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ce Crouse JrCE CROUSE JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Cindy-Lou DrummondCINDY-LOU DRUMMOND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Waldon GarrissWALDON GARRISS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jamie C HigdonJAMIE C HIGDON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Janine C JonesJANINE C JONES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Margaret G KimMARGARET G KIM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ashleigh Lindsay-BehnkeASHLEIGH LINDSAY-BEHNKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Delvin J PikesDELVIN J PIKES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Hon Joseph R PittsHON JOSEPH R PITTS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Neal R SchultzNEAL R SCHULTZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Richard O SpeakmanRICHARD O SPEAKMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey E StrykerJEFFREY E STRYKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Commissioner E Sue SwansonCOMMISSIONER E SUE SWANSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Stephen K ToadvineSTEPHEN K TOADVINE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Kevin BrownDR KEVIN BROWN
PRESIDENT
- Total calculated
- $236,198
- From this org
- $194,391
- From related orgs
- $0
- Other
- $41,807
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $194,391
- Bonus
- $0
- Other
- $0
- Deferred
- $7,200
- Nontaxable benefits
- $34,607
- Filer's total
- $236,198
-
Sherry PowersSHERRY POWERS
PROVOST
- Total calculated
- $155,241
- From this org
- $138,546
- From related orgs
- $0
- Other
- $16,695
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $138,546
- Bonus
- $0
- Other
- $0
- Deferred
- $5,545
- Nontaxable benefits
- $11,150
- Filer's total
- $155,241
-
Glenn R HamiltonGLENN R HAMILTON
VP FOR OPERATIONS
- Total calculated
- $126,501
- From this org
- $104,129
- From related orgs
- $0
- Other
- $22,372
- Hours/week
- 40
-
Dr Mark J TroyerDR MARK J TROYER
VP FOR INSTITUTIONAL ADVANCEMENT
- Total calculated
- $137,581
- From this org
- $115,071
- From related orgs
- $0
- Other
- $22,510
- Hours/week
- 40
-
Dr Sarah B BaldwinDR SARAH B BALDWIN
VP FOR STUDENT DEVELOPMENT
- Total calculated
- $107,749
- From this org
- $85,965
- From related orgs
- $0
- Other
- $21,784
- Hours/week
- 40
-
Jennifer McChordJENNIFER MCCHORD
VP FOR ENROLLMENT MANAGEMENT
- Total calculated
- $126,895
- From this org
- $104,698
- From related orgs
- $0
- Other
- $22,197
- Hours/week
- 40
-
Mark WhitworthMARK WHITWORTH
VP FOR INTERCOLLEGIATE ATHLETICS
- Total calculated
- $141,779
- From this org
- $118,316
- From related orgs
- $0
- Other
- $23,463
- Hours/week
- 40
-
Dale L JarrardDALE L JARRARD
ASSOCIATE VP FOR ADVANCEMENT
- Total calculated
- $122,944
- From this org
- $100,775
- From related orgs
- $0
- Other
- $22,169
- 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 · Travel for companions
- 1a · Tax indemnification and gross-up payments
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 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
The filer's explanations (Part III)
- PART I, LINE 1A
- TRAVEL FOR COMPANIONS - SPOUSAL TRAVEL IS REIMBURSED WHEN THERE IS A BUSINESS REASON FOR THE SPOUSE TO TRAVEL WITH THE OFFICER. TAX INDEMNIFICATION AND GROSS UP PAYMENTS - THE PRESIDENT USES A UNIVERSITY OWNED CAR FOR COMMUTING AND OTHER NON-BUSINESS USE.
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.
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.
-
CHARITABLE REMAINDER UNITRUST (1)
T · BENEFICIAL TRUST · KY
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531189349302063
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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