Johnson C Smith University Incorporated
- Assets
- $138.7m
- Revenue
- $52.0m
- Investments
- $61.8m
- Employees
- 349
- Location
- Charlotte, NC
- Founding
- 02/1945
- Data as of
- 06/2020
- EIN
- 25-0983069
Organization Overview
Johnson C Smith University Incorporated is located in Charlotte, NC. The organization was established in 1945. 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, Johnson C Smith University Incorporated employed 349 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Johnson C Smith University Incorporated 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 06/2020, Johnson C Smith University Incorporated generated $52.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $53.0m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
JOHNSON C. SMITH UNIVERSITY OFFERS A LIBERAL ARTS EDUCATION TO A DIVERSE GROUP OF TALENTED AND MOTIVATED STUDENTS IN PREPARATION FOR ADVANCE STUDY AND SPECIFIC CAREERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION: JOHNSON C. SMITH UNIVERSITY OFFERS INSTRUCTIONS IN VARIOUS LIBERAL ARTS PROGRAMS. FOR THE REPORTING PERIOD THE UNIVERSITY HAD ALMOST 1,800 STUDENTS MATRICULATING IN THESE PROGRAMS. JOHNSON C. SMITH UNIVERSITY HAS 3 COLLEGES FROM WHICH STUDENTS CAN CHOOSE VARIOUS MAJORS: COLLEGE OF ARTS AND LETTERS, COLLEGE OF PROFESSIONAL STUDIES, AND COLLEGE OF SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS.
STUDENT SERVICES: JOHNSON C SMITH UNIVERSITY OFFERS A WIDE RANGE OF SERVICES TO ITS STUDENTS. THESE PROGRAMS INCLUDE THE FOLLOWING SERVICES: PLACEMENT AND CAREER COUNSELING, ADMISSION, REGISTRAR, FINANCIAL AID, SPORTS AND VARIOUS OTHER STUDENT ACTIVITIES.
ACADEMIC SUPPORT: OUR ACADEMIC SUPPORT SERVICES INCLUDES INFORMATION TECHNOLOGY, LIBRARY SERVICES, SMART CLASSROOMS, AND FACULTY TRAINING. EVERY FULLTIME STUDENT AT JOHNSON C. SMITH UNIVERSITY RECEIVES A LAPTOP. OUR LIBRARY CONTINUES TO UPDATE ITS BOOK CATALOGS. IN ADDITION, STUDENTS HAVE ACCESS TO A WIDE RANGE OF ONLINE CATALOGS. JOHNSON C. SMITH UNIVERSITY IS IN THE PROCESS OF TRANSFORMING ALL ITS TRADITIONAL CLASSROOMS INTO SMART CLASSROOMS BY PLACING TECHNOLOGY AT THE STUDENT'S FINGER TIP.
OTHER: PUBLIC SERVICE, STUDENT ASSISTANCE, AUXILIARY SERVICE (ROOM AND BOARD)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clarence Armbrister President | Officer | 40 | $361,486 |
Greg Petzke VP Finance/treasurer | Officer | 40 | $182,000 |
David Lerch Financial Affairs Prof | 40 | $167,000 | |
Tami Simmons Vice-President (ia) | Officer | 40 | $157,000 |
Olivia Diane Bowles Vice-President (gspar) | 40 | $140,900 | |
Parran Foster III Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mosaic Village Holdings Llc Property Management | 6/29/21 | $2,098,536 |
Follett Higher Education Group Contract Bookstore | 6/29/21 | $741,676 |
Wff Facility Service Janitorial Service | 6/29/21 | $1,675,303 |
Perkins Management Service Co Food Service | 6/29/21 | $1,175,960 |
Str Mechanical Inc Security Services | 6/29/21 | $1,003,340 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,416,800 |
| Investment income | $95,563 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $76,195 |
| Net Gain/Loss on Asset Sales | -$1,020,929 |
| Net Income from Fundraising Events | -$85,528 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,955,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $7,631,577 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $690,524 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,502,977 |
| Pension plan accruals and contributions | $1,862,960 |
| Other employee benefits | $477,064 |
| Payroll taxes | $1,183,960 |
| Fees for services: Management | $239,744 |
| Fees for services: Legal | $141,680 |
| Fees for services: Accounting | $210,457 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,051 |
| Advertising and promotion | $113,304 |
| Office expenses | $14,085,998 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,614,879 |
| Travel | $563,992 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $313,400 |
| Interest | $812,656 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,178,388 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $52,974,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,871,166 |
| Pledges and grants receivable | $5,911,405 |
| Accounts receivable, net | $1,859,125 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $579,993 |
| Investments—publicly traded securities | $3,979,450 |
| Investments—other securities | $61,817,719 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,829,053 |
| Total assets | $138,679,545 |
| Accounts payable and accrued expenses | $1,897,139 |
| Grants payable | $0 |
| Deferred revenue | $156,073 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,089,976 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,727,891 |
| Total liabilities | $28,871,079 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $109,808,466 |
Grants Recieved
Over the last fiscal year, we have identified 37 grants that Johnson C Smith University Incorporated has recieved totaling $24,535,710.
| Awarding Organization | Amount |
|---|---|
Duke Endowment Charlotte, NC PURPOSE: WEST TRADE ACTIVATION PLAN | PHASES 1 AND 2 | LAND | $6,990,000 |
Duke Endowment Charlotte, NC PURPOSE: TO COMMEMORATE THE DUKE ENDOWMENTS CENTENNIAL, SUPPORT FOR IMPLEMENTING THE NEW STRATEGIC PLAN IN COORDINATION WITH THE CHARLOTTE MAYORS RACIAL EQUITY CAMPAIGN. | $5,000,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $3,000,100 |
Duke Endowment Charlotte, NC PURPOSE: TO SUPPORT STUDENT FINANCIAL AID AND SCHOLARSHIPS. | $2,050,158 |
Duke Endowment Charlotte, NC PURPOSE: TO SUPPORT THE NEW STRATEGIC PLAN IMPLEMENTATION IN COORDINATION WITH THE CHARLOTTE MAYORS RACIAL EQUITY CAMPAIGN. | $2,000,000 |
Duke Endowment Charlotte, NC PURPOSE: TO PROVIDE UNRESTRICTED OPERATING SUPPORT. | $1,800,000 |
Endowment Analysis
| Beg. Balance | $65,797,169 |
| Earnings | $18,391,399 |
| Admin Expense | $488,423 |
| Other Expense | $4,821,472 |
| Grants | $3,711,254 |
| Ending Balance | $75,167,419 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Charleston Southern University Charleston, SC | $197,723,286 | $118,040,499 |
Marymount University Arlington, VA | $272,414,108 | $118,614,940 |
Gardner-Webb University Boiling Springs, NC | $163,499,840 | $100,956,877 |
Meredith College Raleigh, NC | $208,277,395 | $93,593,801 |
Georgia Tech Athletic Association Atlanta, GA | $397,031,896 | $79,492,257 |
Queens University Of Charlotte Charlotte, NC | $172,081,537 | $81,135,661 |
Life University Inc Marietta, GA | $133,814,718 | $85,437,129 |
Agnes Scott College Decatur, GA | $395,231,473 | $76,705,901 |
Christian Brothers University Memphis, TN | $107,139,654 | $73,065,264 |
Brenau University Inc Gainesville, GA | $138,158,493 | $73,682,721 |
Cumberland University Lebanon, TN | $59,645,506 | $69,170,999 |