Randolph College
- Assets
- $300.9m
- Revenue
- $43.7m
- Investments
- $207.5m
- Employees
- 669
- Location
- Lynchburg, VA
- Founding
- 01/1944
- Data as of
- 06/2021
- 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 06/2021, Randolph College employed 669 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 06/2021, Randolph College generated $43.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $35.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSTRUCTION (LIBERAL ARTS HIGHER EDUCATION)
Describe the Organization's Program Activity:
INSTRUCTION: 548 FULL-TIME UNDERGRADUATE AND GRADUATE STUDENTS AND 18 PART-TIME STUDENTS (BASED ON FALL 2020 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 | $382,251 |
Mitchell Wesolowski Treasurer/vp For Finance And Administration | Officer | 40 | $189,250 |
Carl A Girelli Provost And VP For Academic Affairs | 40 | $173,248 | |
Farah M Marks VP Institutional Advancement | 40 | $147,061 | |
Victor M Gosnell Chief Technology Officer | 40 | $116,554 | |
Peter Sheldon Professor Of Physics | 40 | $114,956 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Dining And Catering Services | 6/29/21 | $823,303 |
The Richmond Fund Lp Investment Management | 6/29/21 | $883,116 |
Ruffalo Noel Levitz Enrollement And Fundraising Management | 6/29/21 | $519,254 |
Jamerson-lewis Construction Construction | 6/29/21 | $3,915,582 |
Sycom Technologies Llc Technology Infrastructure Services | 6/29/21 | $223,122 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,909,809 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,490,175 |
| Noncash contributions included in lines 1a–1f | $482,677 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,399,984 |
| Total Program Service Revenue | $15,290,789 |
| Investment income | $1,748,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,304,387 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,744,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,142,333 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $776,342 |
| Compensation of current officers, directors, key employees. | $776,342 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,724,080 |
| Pension plan accruals and contributions | $3,680,900 |
| 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 | $1,256,930 |
| 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 | $626,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,512,867 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $35,207,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,015,028 |
| Savings and temporary cash investments | $24,865,855 |
| Pledges and grants receivable | $4,511,482 |
| Accounts receivable, net | $768,396 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,068,830 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $59,806,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $207,487,118 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $354,450 |
| Total assets | $300,877,810 |
| Accounts payable and accrued expenses | $2,183,659 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $13,054,001 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $724,013 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,387,595 |
| Total liabilities | $22,349,268 |
| Net assets without donor restrictions | $111,377,366 |
| Net assets with donor restrictions | $167,151,176 |
| 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 | $300,877,810 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Randolph College has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Martin Foundation Birmingham, AL PURPOSE: GENERAL OPERATING | $10,000 |
The Powell Foundation Houston, TX PURPOSE: DESIGNATED GRANT: GENERAL OPERATING AND SUPPORT | $10,000 |
The Powell Foundation Houston, TX PURPOSE: DESIGNATED GRANT: GENERAL OPERATING AND SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $142,528,873 |
| Earnings | $63,429,764 |
| Admin Expense | $1,121,664 |
| Net Contributions | $1,249,645 |
| Other Expense | $6,244,776 |
| Grants | $2,821,510 |
| Ending Balance | $197,020,332 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Washington College Chestertown, MD | $509,587,236 | $93,610,957 |
Hampden-Sydney College Hampdensydney, VA | $332,900,116 | $118,845,969 |