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Nonprofiteer
← ERSKINE COLLEGE

Form 990 for tax year 2022

Filed by ERSKINE COLLEGE.

Totals

Total revenue
$43,220,598
Total expenses
$46,303,008
Contributions and grants received
$2,522,403
Grants paid
$23,252,941
Program service revenue
$39,331,291
Investment income
$1,332,508
Other revenue
$34,396
Total assets, end of year
$68,664,975
Total liabilities, end of year
$19,149,700
Net assets or fund balances, end of year
$49,515,275
Program services expenses (Part IX)
$41,315,481
Management and general expenses
$4,601,178
Fundraising expenses
$386,349
Program service expenses (Part III)
$41,315,481

Program services were 89.2% 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.

  • 1d · Related organizations

    $443,348

  • 1e · Government grants (contributions)

    $205,999

  • 1f · All other contributions, gifts and grants

    $1,873,056

  • 1g · Noncash contributions included above

    $54,059

  • 2a · Program service revenue: Student Tuition & Fees

    total $30,303,328 · related or exempt $30,303,328

  • 2b · Program service revenue: Auxiliary Enterprises

    total $8,765,271 · related or exempt $8,765,271

  • 2f · All other program service revenue

    total $262,692 · related or exempt $262,692 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $451,416 · excluded $451,416

  • 6a · Gross rents

    real property $33,426

  • 6b · Less rental expenses

    real property $1,844

  • 6c · Rental income or loss

    real property $31,582 · personal property $0

  • 6d · Net rental income or loss

    total $31,582 · excluded $31,582

  • 7a · Gross sales of assets other than inventory

    securities $55,868,059

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

    securities $54,986,967

  • 7c · Gain or loss

    securities $881,092 · other assets $0

  • 7d · Net gain or loss

    total $881,092 · excluded $881,092

  • 8a · Fundraising events: gross income

    $10,074

  • 8b · Fundraising events: direct expenses

    $7,260

  • 8c · Net income from fundraising events

    total $2,814 · excluded $2,814

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $23,252,941 · program services $23,252,941

  • 5 · Compensation of officers, directors and key employees

    total $400,781 · management and general $339,221 · fundraising $61,560

  • 7 · Other salaries and wages

    total $7,747,759 · program services $6,218,432 · management and general $1,371,476 · fundraising $157,851

  • 8 · Pension plan contributions

    total $84,151 · program services $64,536 · management and general $17,399 · fundraising $2,216

  • 9 · Other employee benefits

    total $733,885 · program services $593,588 · management and general $125,720 · fundraising $14,577

  • 10 · Payroll taxes

    total $508,425 · program services $389,916 · management and general $103,831 · fundraising $14,678

  • 11b · Fees: legal

    total $67,329 · management and general $67,329

  • 11c · Fees: accounting

    total $198,648 · management and general $198,648

  • 11f · Fees: investment management

    total $133,199 · management and general $133,199

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

    total $73,289 · program services $50,241 · management and general $21,219 · fundraising $1,829

  • 13 · Office expenses

    total $691,932 · program services $347,849 · management and general $293,461 · fundraising $50,622

  • 14 · Information technology

    total $128,974 · management and general $128,974

  • 16 · Occupancy

    total $479,920 · program services $479,920

  • 17 · Travel

    total $713,855 · program services $681,112 · management and general $27,690 · fundraising $5,053

  • 20 · Interest

    total $614,861 · program services $485,186 · management and general $129,675

  • 22 · Depreciation, depletion and amortization

    total $1,047,475 · program services $810,201 · management and general $237,274

  • 23 · Insurance

    total $492,022 · program services $337,290 · management and general $142,453 · fundraising $12,279

  • 24a · Other expenses: Food services

    total $2,648,643 · program services $2,648,643

  • 24b · Other expenses: Athletic teams

    total $1,312,782 · program services $1,312,782

  • 24c · Other expenses: Facility management

    total $2,056,518 · program services $1,639,161 · management and general $417,357

  • 24e · All other expenses

    total $2,915,619 · program services $2,003,683 · management and general $846,252 · fundraising $65,684

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $530,541 · end of year $808,825

  • 3 · Pledges and grants receivable

    beginning of year $11,272 · end of year $86,272

  • 4 · Accounts receivable

    beginning of year $2,218,949 · end of year $1,551,766

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $131,030 · end of year $175,034

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

    $61,666,019

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

    $36,359,671

  • 10c · Land, buildings and equipment, net

    beginning of year $25,773,513 · end of year $25,306,348

  • 11 · Investments: publicly traded securities

    beginning of year $31,940,498 · end of year $37,524,466

  • 12 · Investments: other securities

    beginning of year $6,896,047 · end of year $794,045

  • 13 · Investments: program-related

    beginning of year $1,547,104 · end of year $1,479,283

  • 15 · Other assets

    beginning of year $938,936 · end of year $938,936

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,565,371 · end of year $1,196,061

  • 19 · Deferred revenue

    beginning of year $956,176 · end of year $691,986

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $12,199,459 · end of year $11,476,669

  • 24 · Unsecured notes and loans payable

    beginning of year $1,831,200 · end of year $2,700,000

  • 25 · Other liabilities

    beginning of year $3,009,919 · end of year $3,084,984

  • 27 · Net assets without donor restrictions

    beginning of year $8,018,242 · end of year $6,563,132

  • 28 · Net assets with donor restrictions

    beginning of year $42,407,523 · end of year $42,952,143

Mission and programs · 2022

Mission

Erskine College exists to glorify God as a Christian academic community where students are equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education.

Activities or mission (Part I)

Christian liberal arts college and graduate theological seminary.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $41,315,481 · Grants $23,252,941 · Revenue $39,331,291

As filed on the 2022 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Mr MS Whitehurst

    Trustee- Chair

    Total calculated
    $0
    Hours/week
    2

  • Ms MM Kiser

    Trustee - Secretary

    Total calculated
    $0
    Hours/week
    2

  • Rev AF Shoger

    Trustee - Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Dr AS Campbell

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Dr BL Howard

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Dr CR Nelson

    Trustee (part year)

    Total calculated
    $0
    Hours/week
    2

  • Dr JC Bouwkamp

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mr CA Runyan

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mr CM Walker Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mr JL Ragsdale

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ms KC Sims

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ms KJ Claxton

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Rev DM Smith

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Rev E Ray

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Rev LA Shelnutt

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Dr Steve Adamson

    President

    Total calculated
    $233,054
    From this org
    $211,217
    From related orgs
    $0
    Other
    $21,837
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $211,217
    Bonus
    $0
    Other
    $0
    Deferred
    $372
    Nontaxable benefits
    $21,465
    Filer's total
    $233,054

  • Mr Darrell Proffitt

    VP Finance, Treasurer

    Total calculated
    $21,666
    From this org
    $20,773
    From related orgs
    $0
    Other
    $893
    Hours/week
    45

  • Mrs NG Jones

    Assistant Secretary

    Total calculated
    $57,548
    From this org
    $46,997
    From related orgs
    $0
    Other
    $10,551
    Hours/week
    40

  • Mr Mark L Peeler

    Athletic Director

    Total calculated
    $126,619
    From this org
    $100,597
    From related orgs
    $0
    Other
    $26,022
    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 · 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 · 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use
Housing Allowance: As a condition of employment, and as a convenience to the University, the President is provided a home on University grounds. The home is provided as a nontaxable benefit to the President.
Schedule J, Part I, Line 1a Personal services
Personal Services: The University provides grounds care and housekeeping for the home on University grounds since the President hosts functions for the University at his home. These services are provided as a nontaxable benefit to the President.

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.

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 (6)

    Trust · SC · controlled entity

    Directly controlled by Erskine College and Theological Seminary

Provenance

Return type
form_990
Tax year
2022
Filed
13 March 2024
IRS schema version
2022v5.0
Source object
202420739349300422

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