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Nonprofiteer
← UNIVERSITY OF THE CUMBERLANDS INC

Form 990 for tax year 2024

Filed by UNIVERSITY OF THE CUMBERLANDS INC.

Totals

Total revenue
$229,487,179
Total expenses
$179,649,717
Contributions and grants received
$5,573,273
Grants paid
$16,899,878
Program service revenue
$208,403,979
Investment income
$14,878,672
Other revenue
$631,255
Total assets, end of year
$729,526,178
Total liabilities, end of year
$39,042,364
Net assets or fund balances, end of year
$690,483,814
Program services expenses (Part IX)
$168,598,374
Management and general expenses
$9,182,574
Fundraising expenses
$1,868,769
Program service expenses (Part III)
$168,598,374

Program services were 93.8% 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.

  • 1f · All other contributions, gifts and grants

    $5,573,273

  • 1g · Noncash contributions included above

    $57,230

  • 2a · Program service revenue: TUITION/FEES

    total $192,539,892 · related or exempt $192,539,892

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $14,846,058 · related or exempt $14,846,058

  • 2c · Program service revenue: DEPARTMENTAL SALES/SERVICES

    total $1,018,029 · related or exempt $1,018,029

  • 3 · Investment income

    total $10,879,281 · excluded $10,879,281

  • 6a · Gross rents

    real property $346,026

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $346,026

  • 6d · Net rental income or loss

    total $346,026 · excluded $346,026

  • 7a · Gross sales of assets other than inventory

    securities $3,999,391

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

    securities $0

  • 7c · Gain or loss

    securities $3,999,391

  • 7d · Net gain or loss

    total $3,999,391 · excluded $3,999,391

  • 11a · Other revenue: OTHER REVENUE

    total $285,229 · related or exempt $285,229

  • 11e · Other revenue, total

    $285,229

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $16,899,878 · program services $16,899,878

  • 5 · Compensation of officers, directors and key employees

    total $3,474,563 · management and general $3,474,563

  • 7 · Other salaries and wages

    total $66,601,508 · program services $64,502,351 · management and general $966,793 · fundraising $1,132,364

  • 9 · Other employee benefits

    total $14,035,928 · program services $13,160,048 · management and general $645,012 · fundraising $230,868

  • 11g · Fees: other

    total $1,887,285 · program services $1,887,285

  • 12 · Advertising and promotion

    total $7,449,453 · program services $7,436,360 · fundraising $13,093

  • 14 · Information technology

    total $1,119,814 · program services $786,135 · management and general $232,803 · fundraising $100,876

  • 16 · Occupancy

    total $2,757,412 · program services $2,712,583 · management and general $40,526 · fundraising $4,303

  • 17 · Travel

    total $3,404,959 · program services $3,201,130 · management and general $135,147 · fundraising $68,682

  • 22 · Depreciation, depletion and amortization

    total $8,001,990 · program services $7,750,237 · management and general $227,589 · fundraising $24,164

  • 23 · Insurance

    total $2,931,688 · program services $657,759 · management and general $2,273,929

  • 24a · Other expenses: SERVICES

    total $37,266,093 · program services $36,413,362 · management and general $787,225 · fundraising $65,506

  • 24b · Other expenses: BAD DEBT

    total $3,390,206 · program services $3,390,206

  • 24c · Other expenses: WORK STUDY

    total $1,810,280 · program services $1,794,304 · management and general $9,026 · fundraising $6,950

  • 24d · Other expenses: EQUIPMENT

    total $1,137,891 · program services $1,137,891

  • 24e · All other expenses

    total $7,480,769 · program services $6,868,845 · management and general $389,961 · fundraising $221,963

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,376,722 · end of year $62,183,235

  • 3 · Pledges and grants receivable

    beginning of year $505,258 · end of year $978,977

  • 4 · Accounts receivable

    beginning of year $28,978,783 · end of year $31,021,658

  • 7 · Other notes and loans receivable

    beginning of year -$314,723 · end of year -$442,535

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,541,335 · end of year $1,921,300

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

    $228,775,796

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

    $85,151,630

  • 10c · Land, buildings and equipment, net

    beginning of year $142,009,536 · end of year $143,624,166

  • 12 · Investments: other securities

    beginning of year $371,540,040 · end of year $447,158,523

  • 15 · Other assets

    beginning of year $42,248,001 · end of year $43,080,854

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,976,302 · end of year $9,894,553

  • 19 · Deferred revenue

    beginning of year $24,419,924 · end of year $28,039,771

  • 25 · Other liabilities

    beginning of year $1,439,161 · end of year $1,108,040

  • 27 · Net assets without donor restrictions

    beginning of year $499,319,771 · end of year $569,363,064

  • 28 · Net assets with donor restrictions

    beginning of year $110,729,794 · end of year $121,120,750

Mission and programs · 2024

Mission

OUR MISSION IS TO PROVIDE A QUALITY, AFFORDABLE EDUCATION TO STUDENTS FROM ALL BACKGROUNDS THROUGH BROAD-BASED ACADEMICS. THE INSTITUTION IS GROUNDED IN CHRISTIAN PRINCIPLES AND LEADERSHIP THROUGH SERVICE.

Activities or mission (Part I)

TO PROVIDE A QUALITY, AFFORDABLE EDUCATION TO STUDENTS FROM ALL BACKGROUNDS THROUGH BROAD-BASED ACADEMICS. THE INSTITUTION IS GROUNDED IN CHRISTIAN PRINCIPLES AND LEADERSHIP THROUGH SERVICE.

  • THE UNIVERSITY PROVIDES EXCEPTIONAL EDUCATIONAL SERVICES IN A PRIVATE BAPTIST UNIVERSITY ENVIRONMENT TO STUDENTS AT LESS THAN THE AGGREGATE COST OF THESE SERVICES. SUCH ACTIVITY IS THE PRIMARY PURPOSE FOR WHICH THE UNIVERSITY WAS FORMED. ATHLETICS, SALES, AND AUXILIARY INCOME IS ALSO AN ESSENTIAL COMPONENT OF THE UNIVERSITY'S PRIMARY EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATIONAL SERVICE.

    Expenses $168,598,374 · Grants $16,899,878 · Revenue $208,689,208

As filed on the 2024 return.

Listed in Part VII

  • Mr David Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr John Mark Toby

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Bill Gullett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Lori Lewis

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mrs Cookie Henson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Michael Mountjoy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Phillip Armstrong

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Tony Hancock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Joseph Joe Ellison

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr French Harmon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Amanda Walton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Connie Hauser

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Charles Dye

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Marion Forcht

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Rufus Friday

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr David Knock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Lee Bryant

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Larry Brandstetter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Donnie Patrick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Scott Thompson

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Mr Winston Griffin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr John Stewart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Quentin Young

    EXECUTIVE VP FINANCE/CFO

    Total calculated
    $285,921
    From this org
    $250,204
    From related orgs
    $0
    Other
    $35,717
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,204
    Bonus
    $0
    Other
    $0
    Deferred
    $13,834
    Nontaxable benefits
    $21,883
    Filer's total
    $285,921

  • Dr Larry Cockrum

    PRESIDENT/CHIEF EXECUTIVE

    Total calculated
    $1,974,823
    From this org
    $1,920,978
    From related orgs
    $0
    Other
    $53,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,920,978
    Bonus
    $0
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $23,345
    Filer's total
    $1,974,823

  • Dr Jerry Jackson

    CHANCELLOR

    Total calculated
    $293,550
    From this org
    $273,378
    From related orgs
    $0
    Other
    $20,172
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $273,378
    Bonus
    $0
    Other
    $0
    Deferred
    $12,434
    Nontaxable benefits
    $7,738
    Filer's total
    $293,550

  • Dr Donnie Grimes

    EXECUTIVE VP WORKFORCE DEV

    Total calculated
    $246,691
    From this org
    $223,742
    From related orgs
    $0
    Other
    $22,949
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,742
    Bonus
    $0
    Other
    $0
    Deferred
    $11,185
    Nontaxable benefits
    $11,764
    Filer's total
    $246,691

  • Dr Jonathan Shores Jr

    EXECUTIVE VP ENROLLMENT

    Total calculated
    $265,711
    From this org
    $239,789
    From related orgs
    $0
    Other
    $25,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,789
    Bonus
    $0
    Other
    $0
    Deferred
    $10,569
    Nontaxable benefits
    $15,353
    Filer's total
    $265,711

  • Dr Chris Leskiw

    ASSOC PROVOST ACADEMIC AFFAIRS

    Total calculated
    $253,847
    From this org
    $222,364
    From related orgs
    $0
    Other
    $31,483
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,364
    Bonus
    $0
    Other
    $0
    Deferred
    $9,583
    Nontaxable benefits
    $21,900
    Filer's total
    $253,847

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 · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202601349349305930

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