Form 990 for tax year 2024
Filed by UNIVERSITY OF TOCCOA FALLS INC.
Totals
- Total revenue
- $31,058,871
- Total expenses
- $26,140,319
- Contributions and grants received
- $1,232,096
- Grants paid
- $5,587,412
- Program service revenue
- $28,934,466
- Investment income
- $834,531
- Other revenue
- $57,778
- Total assets, end of year
- $46,755,795
- Total liabilities, end of year
- $2,774,398
- Net assets or fund balances, end of year
- $43,981,397
- Program services expenses (Part IX)
- $22,880,016
- Management and general expenses
- $2,985,138
- Fundraising expenses
- $275,165
- Program service expenses (Part III)
- $22,880,016
Program services were 87.5% 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)
$289,284
-
1f · All other contributions, gifts and grants
$942,812
-
2a · Program service revenue: Tuition & Fees
total $24,093,638 · related or exempt $24,093,638
-
2b · Program service revenue: Auxiliary
total $4,666,018 · related or exempt $4,477,722 · unrelated business $188,296
-
2c · Program service revenue: Conferences
total $174,810 · related or exempt $174,810
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $604,218 · excluded $604,218
-
6a · Gross rents
real property $240,707 · personal property $22,591
-
6b · Less rental expenses
real property $238,997 · personal property $610
-
6c · Rental income or loss
real property $1,710 · personal property $21,981
-
6d · Net rental income or loss
total $23,691 · unrelated business $23,691
-
7a · Gross sales of assets other than inventory
securities $2,684,078
-
7b · Less cost or other basis and sales expenses
securities $2,453,765
-
7c · Gain or loss
securities $230,313 · other assets $0
-
7d · Net gain or loss
total $230,313 · excluded $230,313
-
8c · Net income from fundraising events
total $0
-
11a · Other revenue: Other Income
total $34,087 · related or exempt $34,087
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$34,087
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $5,587,412 · program services $5,587,412
-
5 · Compensation of officers, directors and key employees
total $639,066 · program services $157,176 · management and general $402,340 · fundraising $79,550
-
7 · Other salaries and wages
total $8,954,913 · program services $8,173,909 · management and general $696,064 · fundraising $84,940
-
8 · Pension plan contributions
total $165,422 · program services $151,390 · management and general $9,785 · fundraising $4,247
-
9 · Other employee benefits
total $1,308,522 · program services $1,195,774 · management and general $96,145 · fundraising $16,603
-
10 · Payroll taxes
total $676,261 · program services $608,635 · management and general $61,128 · fundraising $6,498
-
11b · Fees: legal
total $11,970 · management and general $11,970
-
11c · Fees: accounting
total $73,726 · management and general $73,726
-
11e · Fees: professional fundraising services
total $18,171 · fundraising $18,171
-
11g · Fees: other
total $434,692 · program services $319,435 · management and general $115,257 · fundraising $0
-
12 · Advertising and promotion
total $263,727 · program services $69,122 · management and general $189,212 · fundraising $5,393
-
13 · Office expenses
total $767,744 · program services $326,609 · management and general $412,415 · fundraising $28,720
-
14 · Information technology
total $356,043 · management and general $350,377 · fundraising $5,666
-
16 · Occupancy
total $699,495 · program services $676,800 · management and general $15,764 · fundraising $6,931
-
17 · Travel
total $390,011 · program services $307,587 · management and general $74,424 · fundraising $8,000
-
20 · Interest
total $7,840 · program services $7,275 · management and general $565
-
22 · Depreciation, depletion and amortization
total $1,061,064 · program services $976,461 · management and general $79,663 · fundraising $4,940
-
23 · Insurance
total $148,217 · program services $122,995 · management and general $23,962 · fundraising $1,260
-
24a · Other expenses: Campus Food Service
total $1,716,396 · program services $1,716,396
-
24b · Other expenses: Deferred Maintenance
total $1,118,650 · program services $1,037,978 · management and general $80,672
-
24c · Other expenses: Repairs and Maintenance
total $344,880 · program services $291,854 · management and general $48,780 · fundraising $4,246
-
24d · Other expenses: Unrelated Business Income Taxes
total $42,800 · program services $42,800
-
24e · All other expenses
total $1,353,297 · program services $1,110,408 · management and general $242,889 · fundraising $0
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $13,819,148 · end of year $17,749,992
-
4 · Accounts receivable
beginning of year $914,071 · end of year $364,241
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $38,178 · end of year $36,493
-
8 · Inventories for sale or use
beginning of year $136,700 · end of year $133,829
-
9 · Prepaid expenses and deferred charges
beginning of year $683,345 · end of year $857,302
-
10a · Land, buildings and equipment: cost or other basis
$41,018,208
-
10b · Land, buildings and equipment: accumulated depreciation
$18,039,369
-
10c · Land, buildings and equipment, net
beginning of year $19,106,275 · end of year $22,978,839
-
11 · Investments: publicly traded securities
beginning of year $6,717,491 · end of year $4,495,484
-
12 · Investments: other securities
beginning of year $6,969 · end of year $6,549
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $127,142 · end of year $133,066
-
17 · Accounts payable and accrued expenses
beginning of year $1,000,681 · end of year $1,047,383
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $994,778
-
25 · Other liabilities
beginning of year $578,897 · end of year $1,727,015
-
27 · Net assets without donor restrictions
beginning of year $30,720,453 · end of year $35,999,227
-
28 · Net assets with donor restrictions
beginning of year $8,254,510 · end of year $7,982,170
Mission and programs · 2024
Mission
The mission of Toccoa Falls College is to glorify God through seeking and developing Christian servant leaders who will impact their world with the love and message of Jesus Christ.
Activities or mission (Part I)
Christian undergraduate and graduate education with residential & non-residential offerings.
-
Toccoa Falls College offers undergraduate programs in 30 majors and 49 minors to approximately 3,100 residential, commuter, and online students, as well as 5 graduate programs. The College provides the campus community with food services, residential housing, and a college gift shop. Also, Toccoa Falls College offers student counseling, student activities and student government, intramural recreation, and various other student experiences as co-curricular to their academic experience.
Expenses $22,880,016 · Grants $5,587,412 · Revenue $28,780,257
As filed on the 2024 return.
Listed in Part VII
-
Janet Webb
Chairwoman
- Total calculated
- $0
- Hours/week
- 3
-
Jeffery Norris
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Paul N Rumery
Trustee/Secretary
- Total calculated
- $0
- Hours/week
- 2
-
C David Markle
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
David L Austin
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Floyd Wheeler
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
George Woerner
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Mark Herndon
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Ron Cantrell
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
W Randolph Shirley
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Dee Mooney
VP for Finance
- Total calculated
- $174,105
- From this org
- $150,308
- From related orgs
- $0
- Other
- $23,797
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $142,686
- Bonus
- $7,622
- Other
- $0
- Deferred
- $7,348
- Nontaxable benefits
- $16,449
- Filer's total
- $174,105
-
Kieran Clements
VP of Academic Affairs
- Total calculated
- $153,218
- From this org
- $123,163
- From related orgs
- $0
- Other
- $30,055
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $113,284
- Bonus
- $6,014
- Other
- $3,865
- Deferred
- $5,537
- Nontaxable benefits
- $24,518
- Filer's total
- $153,218
-
Robert Myers
President
- Total calculated
- $306,189
- From this org
- $281,098
- From related orgs
- $0
- Other
- $25,091
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $262,198
- Bonus
- $13,661
- Other
- $5,239
- Deferred
- $13,206
- Nontaxable benefits
- $11,885
- Filer's total
- $306,189
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
- 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
- 7 · Other non-fixed payments
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
- 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
- Robert Myers, President, receives a housing expense reimbursement. This is approved by the board of trustees and treated as taxable compensation.
- Schedule J, Part I, Line 7 Non-fixed payments
- The independent Board of Trustees approved a discretionary bonus of 5% of base compensation to all employees.
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
- 2024
- Filed
- 15 October 2025
- IRS schema version
- 2024v5.1
- Source object
- 202532889349301923
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