Form 990 for tax year 2022
Filed by TRUETT MCCONNELL UNIVERSITY INC.
Totals
- Total revenue
- $38,005,473
- Total expenses
- $34,357,568
- Contributions and grants received
- $9,079,311
- Grants paid
- $7,987,488
- Program service revenue
- $28,334,440
- Investment income
- $597,822
- Other revenue
- -$6,100
- Total assets, end of year
- $57,319,722
- Total liabilities, end of year
- $27,324,090
- Net assets or fund balances, end of year
- $29,995,632
- Program services expenses (Part IX)
- $28,939,463
- Management and general expenses
- $5,097,700
- Fundraising expenses
- $320,405
- Program service expenses (Part III)
- $28,939,463
Program services were 84.2% 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.
-
1c · Fundraising events
$16,191
-
1d · Related organizations
$1,048,082
-
1e · Government grants (contributions)
$3,492,561
-
1f · All other contributions, gifts and grants
$4,522,477
-
2a · Program service revenue: TUITION AND FEES
total $23,058,571 · related or exempt $23,058,571
-
2b · Program service revenue: AUXILIARY ENTERPRISES
total $5,192,501 · related or exempt $5,094,045 · unrelated business $98,456
-
2c · Program service revenue: STUDENT SERVICES
total $83,368 · related or exempt $83,368
-
3 · Investment income
total $585,777 · excluded $585,777
-
7a · Gross sales of assets other than inventory
securities $1,202,792
-
7b · Less cost or other basis and sales expenses
securities $1,190,747
-
7c · Gain or loss
securities $12,045
-
7d · Net gain or loss
total $12,045 · excluded $12,045
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$16,191
-
8b · Fundraising events: direct expenses
$6,100
-
8c · Net income from fundraising events
total -$6,100 · excluded -$6,100
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $7,161,474 · program services $7,161,474
-
3 · Grants to foreign organizations and individuals
total $826,014 · program services $826,014
-
5 · Compensation of officers, directors and key employees
total $438,870 · program services $87,774 · management and general $287,367 · fundraising $63,729
-
7 · Other salaries and wages
total $9,102,944 · program services $7,431,297 · management and general $1,545,723 · fundraising $125,924
-
8 · Pension plan contributions
total $351,992 · program services $245,620 · management and general $96,633 · fundraising $9,739
-
9 · Other employee benefits
total $2,397,124 · program services $1,920,719 · management and general $450,873 · fundraising $25,532
-
10 · Payroll taxes
total $588,662 · program services $463,873 · management and general $118,065 · fundraising $6,724
-
11b · Fees: legal
total $5,165 · management and general $5,165
-
11c · Fees: accounting
total $72,787 · management and general $72,787
-
11f · Fees: investment management
total $16,398 · management and general $16,398
-
11g · Fees: other
total $997,409 · program services $395,987 · management and general $601,422
-
12 · Advertising and promotion
total $432,584 · program services $224,710 · management and general $196,009 · fundraising $11,865
-
13 · Office expenses
total $578,767 · program services $327,938 · management and general $247,641 · fundraising $3,188
-
17 · Travel
total $816,372 · program services $740,761 · management and general $69,665 · fundraising $5,946
-
20 · Interest
total $1,301,406 · program services $1,298,590 · management and general $2,816
-
22 · Depreciation, depletion and amortization
total $1,822,008 · program services $1,696,664 · management and general $125,344
-
24a · Other expenses: OPERATIONS AND MAINTENA
total $3,395,660 · program services $2,903,142 · management and general $492,518
-
24b · Other expenses: FOOD AND DINING SERVICE
total $1,509,773 · program services $1,509,773
-
24c · Other expenses: CONTRACTED SERVICES
total $1,297,514 · program services $811,382 · management and general $486,132
-
24d · Other expenses: STUDENT SUPPLIES AND MA
total $571,456 · program services $571,456
-
24e · All other expenses
total $673,189 · program services $322,289 · management and general $283,142 · fundraising $67,758
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,866,036 · end of year $6,392,315
-
4 · Accounts receivable
beginning of year $522,304 · end of year $943,380
-
10a · Land, buildings and equipment: cost or other basis
$58,365,007
-
10b · Land, buildings and equipment: accumulated depreciation
$19,845,456
-
10c · Land, buildings and equipment, net
beginning of year $37,746,347 · end of year $38,519,551
-
11 · Investments: publicly traded securities
beginning of year $2,573,819 · end of year $5,086,419
-
12 · Investments: other securities
beginning of year $3,894,595 · end of year $4,033,315
-
15 · Other assets
beginning of year $2,392,729 · end of year $2,344,742
-
17 · Accounts payable and accrued expenses
beginning of year $936,480 · end of year $1,494,455
-
19 · Deferred revenue
beginning of year $684,401 · end of year $395,250
-
23 · Secured mortgages and notes payable
beginning of year $25,293,595 · end of year $24,822,255
-
25 · Other liabilities
beginning of year $328,213 · end of year $612,130
-
27 · Net assets without donor restrictions
beginning of year $17,444,627 · end of year $20,948,219
-
28 · Net assets with donor restrictions
beginning of year $8,308,514 · end of year $9,047,413
Mission and programs · 2022
Mission
THE MISSION OF TRUETT MCCONNELL UNIVERSITY, A GEORGIA BAPTIST UNIVERSITY, IS TO EQUIP STUDENTS TO FULFILL THE GREAT COMISSION BY FOSTERING A CHRISTIAN WORLDVIEW THROUGH A BIBLICALLY CENTERED EDUCATION IN A FAMILY-FRIENDLY ENVIRONMENT.
Activities or mission (Part I)
TRUETT MCCONNELL UNIVERSITY IS A CHRISTIAN LIBERAL ARTS INSTITUTION THAT OFFERS 40 UNDERGRADUATE AND 10 GRADUATE DEGREE PROGRAMS FROM ITS CAMPUS IN CLEVELAND, GEORGIA. THE MISSION IS TO EQUIP STUDENTS TO FULFILL THE GREAT COMISSION BY FOSTERING A CHRISTIAN WORLDVIEW THROUGH A BIBLICALLY CENTERED EDUCATION IN A FAMILY-FRIENDLY ENVIRONMENT.
-
Withheld by Nonprofiteer: this text may name a private individual.
Expenses $6,552,861 · Revenue $23,058,571
-
FINANCIAL AID - TRUETT MCCONNELL UNIVERSITY IS COMMITTED TO PROVIDING A QUALITY EDUCATIONAL EXPERIENCE TO STUDENTS FROM ALL ECONOMIC BACKGROUNDS. FOR GRADUATING HIGH SCHOOL STUDENTS AND PARENTS, THE THOUGHT OF COLLEGE CAN BE A FINANCIAL BURDEN. HOWEVER, TMU WORKS WITH STUDENTS TO HELP MAKE THE FINANCIAL AID PROCESS EASIER TO FOLLOW AND UNDERSTAND. 100% OF ALL FIRST-TIME FRESHMEN RECEIVE FINANCIAL AID.
Expenses $7,987,488 · Grants $7,987,488
-
AUXILIARY ENTERPRISES - LIVING ON CAMPUS IS AN IMPORTANT PART OF THE OVERALL EDUCATIONAL AND DISCIPLESHIP EXPERIENCE AT TMU. WE ARE COMMITTED TO THE DEVELOPMENT OF STUDENTS INTO DISCIPLES OF CHRIST AND SEEK TO FURTHER THIS GOAL THROUGH LIVING, LEARNING, PLAYING, PRAYING, AND STUDYING GOD'S WORD TOGETHER IN OUR RESIDENCE HALL COMMUNITIES. WE SEEK TO BUILD GOD-HONORING COMMUNITIES THAT BOTH CHALLENGE AND SUPPORT RESIDENTS, AS WELL AS BUILD AND STRENGTHEN RELATIONSHIPS. REGARDLESS OF WHICH RESIDENCE HALL YOU LIVE IN, YOU WILL BECOME PART OF A COMMUNITY COMMITTED TO YOUR CHRISTIAN DISCIPLESHIP AND ACADEMIC SUCCESS.
Expenses $5,027,195 · Revenue $5,094,045
-
STUDENT LIFE - YOUR EXPERIENCES AS A TMU STUDENT ARE SOME OF THE MOST TRANSFORMATIVE AND EXCITING YEARS OF YOUR LIFE. STUDENT LIFE EXISTS TO ENHANCE CAMPUS LIFE THROUGH EXCEPTIONAL PROGRAMS THAT ENCOURAGE LEADERSHIP, UNITY, SERVICE AND CHRISTIAN FAITH. ACADEMICALLY, SOCIALLY AND SPIRITUALLY, WE DESIRE THAT YOU BECOME THE INDIVIDUAL GOD HAS CALLED YOU TO BE WHILE ENJOYING THE JOURNEY ALONG THE WAY.
Expenses $9,371,919 · Revenue $83,368
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. 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 Kevin CookeMR KEVIN COOKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Brad HughesMR BRAD HUGHES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr James UsryMR JAMES USRY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Keith JosephPASTOR KEITH JOSEPH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rep Matthew GambillREP MATTHEW GAMBILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Matthew SlempREV MATTHEW SLEMP
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Frank CoxDR FRANK COX
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Geoff ProwsDR GEOFF PROWS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Calvin ThompsonMR CALVIN THOMPSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Carl MarshallPASTOR CARL MARSHALL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Jerry AdairPASTOR JERRY ADAIR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Marty HarbinMR MARTY HARBIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Jeff WarwickMR JEFF WARWICK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Julie DoroughMRS JULIE DOROUGH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Mac BrunsonDR MAC BRUNSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Brian WelchPASTOR BRIAN WELCH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Sam TeasleyMR SAM TEASLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Johnny SuttonMR JOHNNY SUTTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Rod MartinMR ROD MARTIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Brad WatersPASTOR BRAD WATERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Harris MalcomPASTOR HARRIS MALCOM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Johnny NixPASTOR JOHNNY NIX
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Darrell BeasleyMR DARRELL BEASLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr B Miles HannanMR B MILES HANNAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Robby FosterDR ROBBY FOSTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Terry WilliamsMR TERRY WILLIAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Tom AbernathyMR TOM ABERNATHY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pastor Vic FordhamPASTOR VIC FORDHAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Phillip JonesMR PHILLIP JONES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Bucky KennedyREV BUCKY KENNEDY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Emir F CanerDR EMIR F CANER
PRESIDENT
- Total calculated
- $367,271
- From this org
- $301,549
- From related orgs
- $0
- Other
- $65,722
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $301,549
- Bonus
- $0
- Other
- $0
- Deferred
- $38,238
- Nontaxable benefits
- $27,484
- Filer's total
- $367,271
-
Dr Jason GraffagninoDR JASON GRAFFAGNINO
VP FINANCE & OPERATIONS
- Total calculated
- $162,778
- From this org
- $87,878
- From related orgs
- $0
- Other
- $74,900
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $87,878
- Bonus
- $0
- Other
- $0
- Deferred
- $8,416
- Nontaxable benefits
- $66,484
- Filer's total
- $162,778
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 · 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
- AS A CONDITION OF THE PRESIDENT'S EMPLOYMENT, THE SCHOOL PROVIDES THE PRESIDENT WITH A RESIDENCE ON THE SCHOOL'S PREMISES, FOR THE SCHOOL'S CONVENIENCE.
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.
-
501(C)(3) · CHURCH · GA
-
GEORGIA BAPTIST FOUNDATION INC
501(C)(3) · TRUST AGENCY FOR ENDOWMENTS · GA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202441369349310784
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