Totals
- Total revenue
- $29,555,769
- Total expenses
- $32,745,660
- Contributions and grants received
- $5,468,611
- Grants paid
- $10,329,295
- Program service revenue
- $22,232,235
- Investment income
- $1,319,984
- Other revenue
- $534,939
- Total assets, end of year
- $85,679,762
- Total liabilities, end of year
- $8,858,643
- Net assets or fund balances, end of year
- $76,821,119
- Program services expenses (Part IX)
- $27,476,521
- Management and general expenses
- $4,307,395
- Fundraising expenses
- $961,744
- Program service expenses (Part III)
- $27,476,521
Program services were 83.9% 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)
$1,754,311
-
1f · All other contributions, gifts and grants
$3,714,300
-
1g · Noncash contributions included above
$5,622
-
2a · Program service revenue: TUITION & FEES
total $16,262,873 · related or exempt $16,262,873
-
2b · Program service revenue: AUXILIARY ENTERPRISES
total $5,969,362 · related or exempt $5,969,362
-
3 · Investment income
total $735,860 · unrelated business $0 · excluded $735,860
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $8,122,226
-
7b · Less cost or other basis and sales expenses
securities $7,538,102
-
7c · Gain or loss
securities $584,124
-
7d · Net gain or loss
total $584,124 · excluded $584,124
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISCELLANEOUS
total $534,939 · excluded $534,939
-
11e · Other revenue, total
$534,939
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $10,329,295 · program services $10,329,295
-
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 $616,937 · management and general $616,937
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $8,503,754 · program services $6,853,274 · management and general $1,135,260 · fundraising $515,220
-
8 · Pension plan contributions
total $40,409 · program services $25,685 · management and general $13,150 · fundraising $1,574
-
9 · Other employee benefits
total $1,047,431 · program services $756,933 · management and general $244,101 · fundraising $46,397
-
10 · Payroll taxes
total $639,238 · program services $490,035 · management and general $119,166 · fundraising $30,037
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $83,160 · management and general $83,160
-
11c · Fees: accounting
total $149,403 · management and general $149,403
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $87,267 · management and general $87,267
-
11g · Fees: other
total $4,017,569 · program services $3,003,588 · management and general $716,459 · fundraising $297,522
-
12 · Advertising and promotion
total $19,707 · fundraising $19,707
-
13 · Office expenses
total $407,471 · program services $305,386 · management and general $75,921 · fundraising $26,164
-
14 · Information technology
total $12,801 · management and general $12,801
-
15 · Royalties
total $0
-
16 · Occupancy
total $1,034,829 · program services $947,037 · management and general $87,792
-
17 · Travel
total $996,571 · program services $972,639 · management and general $14,629 · fundraising $9,303
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $21,115 · program services $17,746 · management and general $3,369
-
20 · Interest
total $287,707 · program services $275,105 · management and general $12,602
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $2,545,478 · program services $2,433,986 · management and general $111,492
-
23 · Insurance
total $723,833 · program services $117,280 · management and general $606,553
-
24a · Other expenses: REPAIRS & MAINTENANCE
total $750,849 · program services $628,478 · management and general $108,235 · fundraising $14,136
-
24b · Other expenses: BAD DEBTS
total $10,573 · program services $9,939 · management and general $634
-
24c · Other expenses: ALLOCATION OF INTERNAL
total -$16,496 · program services $1,380 · management and general -$17,876
-
24d · Other expenses: SUPPLIES
total $46,571 · management and general $46,571
-
24e · All other expenses
total $390,188 · program services $308,735 · management and general $79,769 · fundraising $1,684
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $809,345 · end of year $412,945
-
2 · Savings and temporary cash investments
beginning of year $11,280,985 · end of year $5,656,455
-
3 · Pledges and grants receivable
beginning of year $379,561 · end of year $2,006,125
-
4 · Accounts receivable
beginning of year $746,131 · end of year $488,819
-
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 $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $125,023 · end of year $169,158
-
9 · Prepaid expenses and deferred charges
beginning of year $569,882 · end of year $589,784
-
10a · Land, buildings and equipment: cost or other basis
$97,961,004
-
10b · Land, buildings and equipment: accumulated depreciation
$52,987,229
-
10c · Land, buildings and equipment, net
beginning of year $44,928,508 · end of year $44,973,775
-
11 · Investments: publicly traded securities
beginning of year $26,640,171 · end of year $29,429,419
-
12 · Investments: other securities
beginning of year $1,904,860 · end of year $1,775,128
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $204,231 · end of year $178,154
-
17 · Accounts payable and accrued expenses
beginning of year $2,189,113 · end of year $1,704,998
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $309,086 · end of year $230,580
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
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 $7,431,856 · end of year $6,923,065
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $46,013,834 · end of year $43,677,583
-
28 · Net assets with donor restrictions
beginning of year $31,644,808 · end of year $33,143,536
Mission and programs · 2023
Mission
CHOWAN UNIVERSITY IS A COMPREHENSIVE COEDUCATIONAL INSTITUTION COMMITTED TO EXCELLENCE IN TEACHING, LEARNING, SCHOLARLY INQUIRY, AND SERVICE. THE UNIVERSITY PROVIDES THE ENVIRONMENT FOR STUDENTS TO BECOME LEARNERS WHO POSSESS THE SKILLS, KNOWLEDGE, CREATIVITY, AND ETHICAL VALUES NECESSARY TO SURVIVE AND FLOURISH IN A RAPIDLY CHANGING, CULTURALLY DIVERSE, GLOBAL SOCIETY. CHOWAN UNIVERSITY, AS A CHURCH-RELATED INSTITUTION, WAS FOUNDED UPON AND IS DEDICATED TO JUDEO-CHRISTIAN VALUES. CONSISTENT WITH THIS HERITAGE, THE UNIVERSITY IS GUIDED BY THE HISTORIC PRINCIPLES OF RELIGIOUS AND INTELLECTUAL FREEDOM, ACADEMIC EXCELLENCE, THE DIGNITY AND WORTH OF EACH INDIVIDUAL, AN ATMOSPHERE OF OPEN DIALOGUE, FREEDOM OF INQUIRY AND EXPRESSION, AND A MORAL COMMITMENT TO THE PURSUIT OF TRUTH.
Activities or mission (Part I)
INSTITUTION OF PRIVATE HIGHER EDUCATION PROVIDING UNDERGRADUATE AND GRADUATE CURRICULUMS.
-
CHOWAN UNIVERSITY IS A COMPREHENSIVE, COEDUCATIONAL, RESIDENTIAL UNIVERSITY WITH BOTH UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY OFFERS A VARIETY OF ACADEMIC PROGRAMS WITH A LIBERAL ARTS BASIS IN CAREER-ORIENTED FIELDS SUCH AS BUSINESS, TEACHER EDUCATION, CRIMINAL JUSTICE, ETC. IN ALL, THE UNIVERSITY OFFERS DEGREES IN 20 PROGRAMS. STUDENTS PARTICIPATE IN, AND ARE EXPOSED TO, VARIOUS CULTURAL ARTS PROGRAMS AND EVENTS. THEY ARE ALSO ENCOURAGED TO BE INVOLVED IN COMMUNITY AND VOLUNTEER PROGRAMS. THE UNIVERSITY OFFERS VARIOUS STYLES OF STUDENT HOUSING FOR RESIDENTIAL STUDENTS. RESIDENTIAL STUDENTS RECEIVE TRAINING AND PROGRAMMING FROM THE RESIDENCE LIFE STAFF. ATHLETIC AND INTRAMURAL PARTICIPATION IS ANOTHER IMPORTANT COMPONENT IN THE LEARNING AND EDUCATION EXPERIENCE. DURING FALL 2023, THE UNIVERSITY SERVED APPROXIMATELY 617 STUDENTS IN ITS TRADITIONAL UNDERGRADUATE PROGRAM, WITH 530 STUDENTS ENROLLED IN SPRING 2024. THE GRADUATE PROGRAM HAD 70 STUDENTS IN FALL 2023 AND 62 IN SPRING 2024. AMONG THESE, 599 STUDENTS WERE RESIDENTIAL IN FALL 2023, AND 501 IN SPRING 2024. ADDITIONALLY, THE UNIVERSITY ENROLLED AROUND FIVE STUDENTS IN THE UNDERGRADUATE ADULT DEGREE PROGRAM FOR FALL 2023 AND THREE IN SPRING 2024. THE UNDERGRADUATE RESIDENCY PROGRAM, DESIGNED FOR STUDENTS OBTAINING THEIR TEACHING LICENSE, HAD 16 PARTICIPANTS IN FALL 2023 AND 12 IN SPRING 2024. OVER THE COURSE OF THE YEAR, APPROXIMATELY 193 STUDENTS SUCCESSFULLY COMPLETED THEIR PROGRAM STUDIES.
Expenses $27,476,521 · Grants $10,329,295 · Revenue $22,232,235
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kirk E PetersonKIRK E PETERSON
FORMER PRESIDENT
- Total calculated
- $295,153
- From this org
- $266,136
- From related orgs
- $0
- Other
- $29,017
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $37,771
- Bonus
- $0
- Other
- $228,365
- Deferred
- $2,083
- Nontaxable benefits
- $26,934
- Filer's total
- $295,153
-
Danny B MooreDANNY B MOORE
VP FOR ACAD. AFFAIRS, PROVOST
- Total calculated
- $220,375
- From this org
- $212,600
- From related orgs
- $0
- Other
- $7,775
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $201,800
- Bonus
- $0
- Other
- $10,800
- Deferred
- $5,375
- Nontaxable benefits
- $2,400
- Filer's total
- $220,375
-
Patrick MashudaPATRICK MASHUDA
AVP FOR ATHLETICS, COMPLIANCE
- Total calculated
- $169,111
- From this org
- $153,458
- From related orgs
- $0
- Other
- $15,653
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $95,490
- Bonus
- $0
- Other
- $57,968
- Deferred
- $2,969
- Nontaxable benefits
- $12,684
- Filer's total
- $169,111
-
Andy WilsonANDY WILSON
VP FOR ENROLL&DEV (THRU 12/23)
- Total calculated
- $156,251
- From this org
- $149,776
- From related orgs
- $0
- Other
- $6,475
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,532
- Bonus
- $0
- Other
- $15,244
- Deferred
- $3,811
- Nontaxable benefits
- $2,664
- Filer's total
- $156,251
-
John DilustroJOHN DILUSTRO
ASSOCIATE PROVOST
- Total calculated
- $151,308
- From this org
- $115,097
- From related orgs
- $0
- Other
- $36,211
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $89,897
- Bonus
- $0
- Other
- $25,200
- Deferred
- $3,099
- Nontaxable benefits
- $33,112
- Filer's total
- $151,308
-
Charles E TaylorCHARLES E TAYLOR
INTERIM PRESIDENT (THRU 03/24)
- Total calculated
- $116,193
- From this org
- $114,231
- From related orgs
- $0
- Other
- $1,962
- Hours/week
- 40
-
Brenda TinkhamBRENDA TINKHAM
DEPT. CHAIR OF TEACHER EDU.
- Total calculated
- $111,910
- From this org
- $106,130
- From related orgs
- $0
- Other
- $5,780
- Hours/week
- 40
-
Elizabeth HedrickELIZABETH HEDRICK
AVP FOR HUMAN RESOURCES
- Total calculated
- $110,946
- From this org
- $106,671
- From related orgs
- $0
- Other
- $4,275
- Hours/week
- 40
-
Charles L Revelle IIICHARLES L REVELLE III
GENERAL COUNCIL
- Total calculated
- $95,865
- From this org
- $95,865
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Stephanie FurloughSTEPHANIE FURLOUGH
AVP FOR BUSINESS/ASST CORP SEC
- Total calculated
- $88,096
- From this org
- $64,449
- From related orgs
- $0
- Other
- $23,647
- Hours/week
- 40
-
Donnie O ClaryDONNIE O CLARY
INTERIM VP FOR BUSINESS AFFAIR
- Total calculated
- $51,250
- From this org
- $48,560
- From related orgs
- $0
- Other
- $2,690
- Hours/week
- 40
-
Austine O EvansAUSTINE O EVANS
BOARD CHAIR (AS OF 01/24)
- Total calculated
- $0
- Hours/week
- 1
-
Cecil S Hollomon JrCECIL S HOLLOMON JR
BOARD VICE CHAIR (AS OF 01/24)
- Total calculated
- $0
- Hours/week
- 1
-
Harold W BabbHAROLD W BABB
TRUSTEE/BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kemper W BakerKEMPER W BAKER
TRUSTEE/BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Blake BlytheBLAKE BLYTHE
TRUSTEE (AS OF 01/24)
- Total calculated
- $0
- Hours/week
- 1
-
Shirley B BrownSHIRLEY B BROWN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Grace G BrownGRACE G BROWN
TRUSTEE (AS OF 01/24)
- Total calculated
- $0
- Hours/week
- 1
-
Lynette BunchLYNETTE BUNCH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jane B BurkeJANE B BURKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mary Anne CroomMARY ANNE CROOM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Stanley E Dixon JrSTANLEY E DIXON JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jessica K DrakeJESSICA K DRAKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James M EasonJAMES M EASON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ray FeltonRAY FELTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Miley W GloverMILEY W GLOVER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mike HendleyMIKE HENDLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ronald L HicksRONALD L HICKS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lloyd L HillLLOYD L HILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Billy R HowellBILLY R HOWELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James T Johnson JrJAMES T JOHNSON JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James W MasonJAMES W MASON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Julian R Mills SrJULIAN R MILLS SR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Elaine E MyersELAINE E MYERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jane E NewsomeJANE E NEWSOME
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Milton OuttenMILTON OUTTEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Robbie ParkerROBBIE PARKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Sarah Virginia ParkerSARAH VIRGINIA PARKER
TRUSTEE (THRU 12/23)
- Total calculated
- $0
- Hours/week
- 1
-
Walter F PierceWALTER F PIERCE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Charles B Pond IIICHARLES B POND III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anthony M Rawlings SrANTHONY M RAWLINGS SR
TRUSTEE (THRU 12/23)
- Total calculated
- $0
- Hours/week
- 1
-
Harvey W ReinhardtHARVEY W REINHARDT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
W Frank Rose JrW FRANK ROSE JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Betty Jo ShepheardBETTY JO SHEPHEARD
TRUSTEE (AS OF 01/24)
- Total calculated
- $0
- Hours/week
- 1
-
Lisa L TurnerLISA L TURNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jesse E VaughanJESSE E VAUGHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Deborah B VinsonDEBORAH B VINSON
TRUSTEE (THRU 12/23)
- Total calculated
- $0
- Hours/week
- 1
-
Linda B WeaverLINDA B WEAVER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Barry E WhitakerBARRY E WHITAKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Garry WhitakerGARRY WHITAKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Hugh Butch WilsonHUGH BUTCH WILSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rosemary ThomasROSEMARY THOMAS
PRESIDENT (AS OF 03/24)
- Total calculated
- $0
- 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 · Health or social club dues or initiation fees
- 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
Answered no
- 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:
- THE UNIVERSITY PROVIDES HOUSING ON PREMISES FOR ITS PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. THE PRESIDENT IS REQUIRED TO ACCEPT THE LODGING IN ORDER TO PROPERLY PERFORM THE DUTIES OF HIS OR HER EMPLOYMENT. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME. IN ADDITION, THE UNIVERSITY PROVIDES MEMBERSHIP TO A LOCAL CLUB FOR THE PRESIDENT PRIMARILY FOR MARKETING AND FUNDRAISING PURPOSES.
- SCHEDULE J, PART I, LINE 4A:
- THE FORMER PRESIDENT WAS PAID SEVERANCE OF $208,333 THROUGH THE FISCAL YEAR ENDING 05/31/2024.
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
- 2023
- Filed
- 11 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501019349300925
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