Westminster College
- Assets
- $90.7m
- Revenue
- $30.3m
- Investments
- $2.0m
- Employees
- 529
- Location
- Fulton, MO
- Founding
- 01/1943
- Data as of
- 06/2020
- EIN
- 43-0652617
Organization Overview
Westminster College is located in Fulton, MO. The organization was established in 1943. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Westminster College employed 529 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster College 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, Westminster College generated $30.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $32.3m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 6 years. 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
FOUR-YEAR, UNDERGRADUATE LIBERAL ARTS COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - ACADEMIC DEPARTMENTS FOR CLASSROOM INSTRUCTION. NUMBER BENEFITED - SERVED 591 STUDENTS FALL 2020 AND 585 STUDENTS SPRING 2021
SCHOLARSHIPS AND OTHER FINANCIAL AID - FINANCIAL AID PROVIDED TO STUDENTS ON BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. NUMBER BENEFITED - 621
STUDENT SERVICES - EXPENSES RELATING TO DEAN OF STUDENT LIFE, ADMISSIONS, GUIDANCE, PLACEMENT, CHAPLIN, FINANCIAL AID, AND INTERCOLLEGIATE ATHLETICS. NUMBER BENEFITED - SERVED 591 STUDENTS FALL 2020 AND 585 STUDENTS SPRING 2021
AUXILIARY OPERATIONS- RESIDENCE HALLS, BOOK STORE, DINING HALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald P Lofe Jr Interim President Of The College | Officer | 40 | $229,277 |
David Roebuck VP For Academic Affairs & | 40 | $186,349 | |
Paul Orscheln VP Of Enrollment Managemen | 40 | $183,558 | |
James Andrews VP For Institutional Adavancement | 40 | $106,721 | |
Cinnamon Brown Associate VP For Academic Affairs | 40 | $104,148 | |
Kasi Lacey VP And Dean Of Student Life | 40 | $103,707 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fresh Ideas Food Service | 6/29/21 | $777,508 |
Kaufman Hall & Associates Financial Services | 6/29/21 | $334,282 |
Michael Evreux Construction Services | 6/29/21 | $461,982 |
Eab Consulting Services | 6/29/21 | $847,850 |
Wff Facility Services Cleaning Services | 6/29/21 | $582,102 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,959,870 |
| Investment income | $941,171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $70,787 |
| Net Rental Income | $4,749 |
| Net Gain/Loss on Asset Sales | -$987,472 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,365 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,260,128 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $10,806,304 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $364,522 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,774,718 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,362,516 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,689 |
| Fees for services: Accounting | $121,507 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $109,746 |
| Fees for services: Other | $1,798,338 |
| Advertising and promotion | $83,625 |
| Office expenses | $519,276 |
| Information technology | $1,187,751 |
| Royalties | $0 |
| Occupancy | $2,365,472 |
| Travel | $370,766 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,194 |
| Interest | $509,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,094,935 |
| Insurance | $444,869 |
| All other expenses | $0 |
| Total functional expenses | $32,310,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,712,292 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $899,824 |
| Accounts receivable, net | $405,868 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,428 |
| Prepaid expenses and deferred charges | $435,357 |
| Investments—publicly traded securities | $43,847,941 |
| Investments—other securities | $2,035,829 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,487,878 |
| Total assets | $90,674,045 |
| Accounts payable and accrued expenses | $2,254,270 |
| Grants payable | $0 |
| Deferred revenue | $134,501 |
| Tax-exempt bond liabilities | $10,446,391 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,812,700 |
| Other liabilities | $665,786 |
| Total liabilities | $15,313,648 |
| 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 | $75,360,397 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Westminster College has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Kavanaugh Charitable Trust Henderson, NV PURPOSE: GRANTS TO PROMOTE THE EDUCATION OF STUDENTS AND GRADUATES. | $1,000 |
Endowment Analysis
| Beg. Balance | $51,877,609 |
| Earnings | $10,842,000 |
| Admin Expense | $2,833,485 |
| Net Contributions | $960,484 |
| Other Expense | $795,915 |
| Grants | $694,347 |
| Ending Balance | $59,356,346 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Coe College Cedar Rapids, IA | $182,564,776 | $91,175,984 |
Benedictine College Atchison, KS | $163,686,664 | $96,440,027 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |