Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $144,077

• 1e · Government grants (contributions)

  $2,480,696

• 1f · All other contributions, gifts and grants

  $28,406,092

• 1g · Noncash contributions included above

  $1,968,831

• 2a · Program service revenue: Tuition & fees

  total $209,983,249 · related or exempt $209,983,249

• 2b · Program service revenue: Dormitory & utilities

  total $18,399,589 · related or exempt $18,399,589

• 2c · Program service revenue: Food services & vending

  total $11,468,815 · related or exempt $11,468,815

• 2d · Program service revenue: Athletics

  total $3,829,810 · related or exempt $3,829,810

• 2e · Program service revenue: Educational workshops/programs

  total $2,513,268 · related or exempt $2,513,268

• 2f · All other program service revenue

  total $4,294,910 · related or exempt $4,287,249 · unrelated business $7,661 · excluded $0

• 3 · Investment income

  total $8,604,052 · unrelated business $1,094,079 · excluded $7,509,973

• 4 · Income from investment of tax-exempt bond proceeds

  total $1,016,638 · excluded $1,016,638

• 5 · Royalties

  total $67,061 · excluded $67,061

• 6a · Gross rents

  real property $2,168,432

• 6b · Less rental expenses

  real property $2,782,052

• 6c · Rental income or loss

  real property -$613,620 · personal property $0

• 6d · Net rental income or loss

  total -$613,620 · unrelated business $803,876 · excluded -$1,417,496

• 7a · Gross sales of assets other than inventory

  securities $106,767,362 · other assets $10,874

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

  securities $97,624,679 · other assets $34,254

• 7c · Gain or loss

  securities $9,142,683 · other assets -$23,380

• 7d · Net gain or loss

  total $9,119,303 · excluded $9,119,303

• 8a · Fundraising events: gross income

  $73,032

• 8a · Fundraising events: contributions included on line 1c

  $144,077

• 8b · Fundraising events: direct expenses

  $130,393

• 8c · Net income from fundraising events

  total -$57,361 · excluded -$57,361

• 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.

• 1 · Grants to domestic organizations and governments

  total $34,080 · program services $34,080

• 2 · Grants to domestic individuals

  total $89,253,588 · program services $89,253,588

• 3 · Grants to foreign organizations and individuals

  total $553,791 · program services $553,791

• 5 · Compensation of officers, directors and key employees

  total $2,315,300 · program services $987,517 · management and general $993,415 · fundraising $334,368

• 6 · Compensation of disqualified persons

  total $50,963 · fundraising $50,963

• 7 · Other salaries and wages

  total $84,565,075 · program services $75,281,213 · management and general $6,909,898 · fundraising $2,373,964

• 8 · Pension plan contributions

  total $11,705,617 · program services $10,399,217 · management and general $955,283 · fundraising $351,117

• 9 · Other employee benefits

  total $12,167,885 · program services $10,746,765 · management and general $1,054,479 · fundraising $366,641

• 10 · Payroll taxes

  total $5,902,118 · program services $5,183,858 · management and general $531,742 · fundraising $186,518

• 11b · Fees: legal

  total $388,737 · program services $9,528 · management and general $379,209

• 11c · Fees: accounting

  total $286,006 · management and general $286,006

• 11f · Fees: investment management

  total $1,260,421 · management and general $1,260,421

• 11g · Fees: other

  total $8,321,492 · program services $7,147,121 · management and general $1,055,247 · fundraising $119,124

• 12 · Advertising and promotion

  total $2,048,516 · program services $1,597,639 · management and general $214,777 · fundraising $236,100

• 13 · Office expenses

  total $4,641,740 · program services $3,555,996 · management and general $998,852 · fundraising $86,892

• 14 · Information technology

  total $5,702,229 · program services $1,904,587 · management and general $3,529,437 · fundraising $268,205

• 15 · Royalties

  total $4,818 · program services $4,818

• 16 · Occupancy

  total $16,099,238 · program services $12,824,278 · management and general $3,253,368 · fundraising $21,592

• 17 · Travel

  total $5,749,356 · program services $5,248,296 · management and general $370,222 · fundraising $130,838

• 19 · Conferences, conventions and meetings

  total $894,567 · program services $843,485 · management and general $36,193 · fundraising $14,889

• 20 · Interest

  total $8,303,694 · program services $7,726,278 · management and general $575,426 · fundraising $1,990

• 22 · Depreciation, depletion and amortization

  total $16,683,939 · program services $15,444,972 · management and general $1,209,789 · fundraising $29,178

• 23 · Insurance

  total $1,436,554 · program services $435,104 · management and general $1,001,245 · fundraising $205

• 24a · Other expenses: Service and auxiliary

  total $10,199,017 · program services $10,027,030 · management and general $135,181 · fundraising $36,806

• 24b · Other expenses: Instructional supplies

  total $2,290,423 · program services $2,215,612 · management and general $59,028 · fundraising $15,783

• 24c · Other expenses: Dues, subscriptions, memberships

  total $2,026,064 · program services $1,788,680 · management and general $222,754 · fundraising $14,630

• 24d · Other expenses: Student loan programs

  total $1,992,992 · program services $32,372 · management and general $1,960,620

• 24e · All other expenses

  total $1,702,004 · program services $1,049,818 · management and general $646,657 · fundraising $5,529

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $139,968,236 · end of year $41,097,533

• 3 · Pledges and grants receivable

  beginning of year $42,404,479 · end of year $35,304,699

• 4 · Accounts receivable

  beginning of year $4,468,189 · end of year $4,036,478

• 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

• 9 · Prepaid expenses and deferred charges

  beginning of year $916,436 · end of year $857,907

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

  $702,971,051

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

  $352,608,547

• 10c · Land, buildings and equipment, net

  beginning of year $351,247,759 · end of year $350,362,504

• 11 · Investments: publicly traded securities

  beginning of year $303,131,443 · end of year $344,241,324

• 12 · Investments: other securities

  beginning of year $108,958,578 · end of year $109,691,534

• 13 · Investments: program-related

  beginning of year $16,833,679 · end of year $17,708,204

• 15 · Other assets

  beginning of year $1,858,319 · end of year $2,189,313

• 17 · Accounts payable and accrued expenses

  beginning of year $12,775,260 · end of year $10,680,695

• 19 · Deferred revenue

  beginning of year $8,602,927 · end of year $9,206,619

• 20 · Tax-exempt bond liabilities

  beginning of year $135,509,046 · end of year $135,100,988

• 21 · Escrow or custodial account liability

  beginning of year $3,028,163 · end of year $2,984,327

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $139,164,360 · end of year $46,462,250

• 25 · Other liabilities

  beginning of year $153,134,740 · end of year $142,634,544

• 27 · Net assets without donor restrictions

  beginning of year $108,327,526 · end of year $118,964,414

• 28 · Net assets with donor restrictions

  beginning of year $409,245,096 · end of year $439,455,659

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

The First Lady of the University often travels with the President for University business. She serves as executive director of Samford's Legacy League, an auxiliary volunteer organization that promotes advocacy for the University and raises scholarship funds. These benefits are not included in taxable compensation.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

The University maintains a residence where the President resides as part of his condition of employment. The residence is used for various business functions. Pursuant to Internal Revenue Code Section 119(d), the value of the qualified housing furnished to the president is excluded from income.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

The University provides social club dues and fees to 4 of its officers and highest compensated employees. The officers and highest compensated employees use the clubs to host University events. The value of the dues is treated as taxable compensation.

Schedule J, Part I, Line 1a Personal services

Housekeeping services at the President's home are provided by a housekeeper who is an employee of the University. These services are considered necessary given the number of University events held at the President's home, and the fact that all areas are open and available for viewing during these events. These services fall within the IRC Section 119(d) exclusion and therefore are excluded from income.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

The University and the president entered into a 457(f) deferred compensation agreement effective March 15, 2022. All amounts elected to be set aside remain the sole property of the University until paid per this agreement. The University contributed $77,250 during 2023, which is included in the amount reported on Schedule J, Part II, Column C.

Schedule J, Part II, Column (B)(i) Base compensation

James Michael Hardin, Provost and Vice President, is an ordained minister and is eligible to claim a nontaxable ministerial benefit. As a result, his W-2, Box 1 reportable compensation excludes certain nontaxable benefits such as a nontaxable ministerial allowance and 403(b)/457 employee deferrals. These nontaxable benefits are reported on Schedule J, columns C and D. For comparison purposes, if he were not an ordained minister, his compensation would be reported as follows on Schedule J: B(i) $314,149, B(ii) $600. B(iii) $48,686, C $25,650, D $25,391 and E $414,476. Note there is no difference in the total compensation reported in Column E. Form 990, Part VII, Section A, Columns D and F would also reflect these reporting differences, however the amount reported in total does not change.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• University Park Holding LLC

  Real estate investment · AL · income $3,198,974 · assets $12,637,703

  Directly controlled by Samford University

• SPCAMPUS I LLC

  Rental real estate · AL · income $286,034 · assets $20,088,975

  Directly controlled by Samford University

• SPCAMPUS II LLC

  Rental real estate · AL · income $168,005 · assets $12,595,978

  Directly controlled by Samford University

• SPCAMPUS III LLC

  Real estate investment · AL · income $2,951,991 · assets $24,727,367

  Directly controlled by Samford University

• Samford Properties East LLC

  Land held for use · AL · income $0 · assets $3,130,000

  Directly controlled by Samford University

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Sherman Oak Development Company LLC

  Real estate development · DE · 50% owned · share of income $0 · share of assets $0

  Directly controlled by 1841 Management Inc

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Charitable remainder trust (6)

  Trust · trust · AL · controlled entity

  Directly controlled by Samford University

• 1841 Management Inc

  C Corporation · Investment activity · DE · 100% owned · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by Samford University