Randolph College
- Assets
- $288.6m
- Revenue
- $52.3m
- Investments
- $191.7m
- Employees
- 782
- Location
- Lynchburg, VA
- Founding
- 01/1944
- Data as of
- 06/2022
- EIN
- 54-0505941
Organization Overview
Randolph College is located in Lynchburg, VA. The organization was established in 1944. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Randolph College employed 782 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Randolph 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 06/2022, Randolph College generated $52.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $38.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INSTRUCTION (LIBERAL ARTS HIGHER EDUCATION)
Describe the Organization's Program Activity:
INSTRUCTION: 535 FULL-TIME UNDERGRADUATE AND GRADUATE STUDENTS AND 15 PART-TIME STUDENTS (BASED ON FALL 2021 ENROLLMENT)
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley W Bateman College President | Officer | 40 | $355,124 |
Mitchell Wesolowski VP For Special Projects | 40 | $180,607 | |
Carl A Girelli Provost/vp For Academic Affairs | 40 | $166,655 | |
Farah Marks VP For Institutional Advancement | 40 | $140,411 | |
Jonathan P Tyree Treasurer/vp For Finance And Administration | Officer | 40 | $137,717 |
Pamela P Risenhoover Professor Of Dance | 40 | $125,503 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jamerson-lewis Construction Construction | 6/29/22 | $3,768,949 |
Aramark Dining And Catering Services | 6/29/22 | $3,027,131 |
The Richmond Fund Lp Investment Management | 6/29/22 | $1,200,918 |
Sycom Technologies Llc Technology Infrastructure Services | 6/29/22 | $632,914 |
Ruffalo Noel Levitz Enrollment And Fundraising Management | 6/29/22 | $631,311 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,351,098 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,734,103 |
| Noncash contributions included in lines 1a–1f | $605,305 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,085,201 |
| Total Program Service Revenue | $23,796,917 |
| Investment income | $1,961,528 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,468,538 |
| Net Income from Fundraising Events | $8,470 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,320,654 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,155,319 |
| Grants and other assistance to Foreign Orgs/Individuals | $20,039 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $709,813 |
| Compensation of current officers, directors, key employees. | $709,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,609,603 |
| Pension plan accruals and contributions | $3,258,790 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,270,139 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $603,115 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,695,853 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $38,611,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,034,692 |
| Savings and temporary cash investments | $26,626,645 |
| Pledges and grants receivable | $4,124,598 |
| Accounts receivable, net | $2,517,472 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,091,697 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $59,978,309 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $191,708,769 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $526,737 |
| Total assets | $288,608,919 |
| Accounts payable and accrued expenses | $1,567,616 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,804,895 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $586,751 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,161,007 |
| Total liabilities | $21,120,269 |
| Net assets without donor restrictions | $109,628,821 |
| Net assets with donor restrictions | $157,859,829 |
| 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 | $288,608,919 |