Ave Maria University Inc
- Assets
- $235.0m
- Revenue
- $61.7m
- Investments
- $0.0
- Employees
- 947
- Location
- Ave Maria, FL
- Founding
- 02/2003
- Data as of
- 06/2021
- EIN
- 03-0482006
Organization Overview
Ave Maria University Inc is located in Ave Maria, FL. The organization was established in 2003. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Ave Maria University Inc employed 947 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ave Maria University Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Ave Maria University Inc generated $61.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $54.9m during the year ending 06/2021. While expenses have increased by 2.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNIVERSITY EDUCATION GROUNDED IN THE TRADITIONS AND FAITH OF THE ROMAN CATHOLIC CHURCH
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING A UNIVERSITY DEDICATED TO INSTRUCTING AND TRAINING INDIVIDUALS TOWARDS A BACCALAUREATE, MASTERS OR DOCTORATE DEGREE. 1,184 STUDENTS WERE SEEKING DEGREES AT AMU DURING THE FALL 2020-2021 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H James Towey Former Amu President | 0 | $378,674 | |
Christopher P Ice Trustee/amu President (thru July '21) | OfficerTrustee | 40 | $376,043 |
Roger Nutt VP Academic Affairs | Officer | 40 | $213,624 |
Ratchapol Dejthai VP It/cio | Officer | 40 | $193,362 |
Eugene Munin VP Finance/cfo | OfficerTrustee | 40 | $190,372 |
Brent Johnson VP Enrollment | Officer | 40 | $184,168 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vernon Litigation Legal And Litigation Services | 6/29/21 | $225,000 |
Cthx Services Llc Heating And Cooling Services | 6/29/21 | $122,706 |
Hill Barth & King Llc Audit, Tax, And Consulting Services | 6/29/21 | $106,500 |
Fuzati Llc Marketing And Advertising | 6/29/21 | $102,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $306,146 |
| Related organizations | $0 |
| Government grants | $2,700,197 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,975,722 |
| Noncash contributions included in lines 1a–1f | $1,475,588 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,982,065 |
| Total Program Service Revenue | $37,515,816 |
| Investment income | $287,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,156 |
| Net Rental Income | $201,181 |
| Net Gain/Loss on Asset Sales | -$836,214 |
| Net Income from Fundraising Events | -$100,228 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $85,405 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,745,167 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $49,169 |
| Grants and other assistance to domestic individuals. | $16,947,518 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,554,368 |
| Compensation of current officers, directors, key employees. | $174,528 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,007,526 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,770,382 |
| Payroll taxes | $999,013 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $509,729 |
| Fees for services: Accounting | $137,229 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,057 |
| Fees for services: Other | $513,321 |
| Advertising and promotion | $298,157 |
| Office expenses | $1,171,028 |
| Information technology | $569,930 |
| Royalties | $7,648 |
| Occupancy | $3,464,933 |
| Travel | $363,284 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,443 |
| Interest | $3,355,555 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,342,012 |
| Insurance | $843,483 |
| All other expenses | $844,573 |
| Total functional expenses | $54,875,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,924,914 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $935,685 |
| Accounts receivable, net | $691,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $324,977 |
| Inventories for sale or use | $78,807 |
| Prepaid expenses and deferred charges | $585,620 |
| Net Land, buildings, and equipment | $179,139,206 |
| Investments—publicly traded securities | $21,198,289 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,097,381 |
| Total assets | $234,976,166 |
| Accounts payable and accrued expenses | $2,760,337 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $55,190,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $234,623 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,113,007 |
| Total liabilities | $59,297,967 |
| Net assets without donor restrictions | $142,787,887 |
| Net assets with donor restrictions | $32,890,312 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $234,976,166 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ave Maria University Inc has recieved totaling $33,815.
| Awarding Organization | Amount |
|---|---|
Anonymous Trust Raleigh, NC PURPOSE: SCHOLARSHIP FOR CLARISA HERNANDEZ VENTURA | $26,815 |
George E & Kathleen E Austin Foundation Bronxville, NY PURPOSE: TO FURTHER DONEE'S EXEMPT PURPOSES | $5,000 |
Tronvold Foundation Lakewood Ranch, FL PURPOSE: UNRESTRICTED | $2,000 |
Endowment Analysis
| Beg. Balance | $6,523,539 |
| Earnings | $1,624,359 |
| Net Contributions | $697,683 |
| Other Expense | $183,209 |
| Ending Balance | $8,662,372 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lynn University Inc Boca Raton, FL | $203,973,646 | $119,511,324 |
Georgia Tech Athletic Association Atlanta, GA | $397,031,896 | $79,492,257 |
Life University Inc Marietta, GA | $133,814,718 | $85,437,129 |
Agnes Scott College Decatur, GA | $395,231,473 | $76,705,901 |
Brenau University Inc Gainesville, GA | $138,158,493 | $73,682,721 |
St Thomas University Inc Miami, FL | $137,677,152 | $75,829,277 |
Ave Maria University Inc Ave Maria, FL | $234,976,166 | $61,745,167 |
University Of Mobile Inc Mobile, AL | $69,808,365 | $44,907,754 |
Spring Hill College Mobile, AL | $150,301,897 | $36,801,063 |
Thomas University Inc Thomasville, GA | $24,383,052 | $20,548,175 |
Webber International University Inc Babson Park, FL | $22,918,487 | $19,317,100 |
Emory University Decatur, GA | $5,794,825 | $19,416,810 |