Virginia Union University
- Assets
- $104.1m
- Revenue
- $71.2m
- Investments
- $0.0
- Employees
- 697
- Location
- Richmond, VA
- Founding
- 04/1944
- Data as of
- 06/2021
- EIN
- 54-0524516
Organization Overview
Virginia Union University is located in Richmond, VA. The organization was established in 1944. 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, Virginia Union University employed 697 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Union University 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, Virginia Union University generated $71.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $45.3m during the year ending 06/2021. While expenses have increased by 0.7% 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
TO PROVIDE A NURTURING, INTELLECTUALLY CHALLENGING AND SPIRITUALLY ENRICHING ENVIRONMENT FOR LEARNING, EMPOWER STUDENTS TO DEVELOP STRONG MORAL VALUES, AND DEVELOP SCHOLARS, LEADERS AND LIFELONG LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRGINIA UNION UNIVERSITY PROVIDES HIGHER EDUCATION OPPORTUNITIES TO STUDENTS ON A NON-DISCRIMINATORY BASIS. PROGRAM EXPENSES RELATE TO PROVIDING THIS EDUCATION.
VIRGINIA UNION UNIVERSITY PROVIDES HIGHER EDUCATION OPPORTUNITIES TO STUDENTS ON A NON-DISCRIMINATORY BASIS. PROGRAM EXPENSES RELATE TO PROVIDING THIS EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Hakim Lucas President | OfficerTrustee | 40 | $314,007 |
Dr Allia L Carter Chief Operating Officer | Officer | 40 | $191,000 |
Mr Gregory E Lewis VP Financial Affairs | Officer | 40 | $173,000 |
Rev Dr Gregory M Howard Dean, School Of Theology | 40 | $133,615 | |
Dr Robin R Davis Dean, School Of Business | 40 | $130,000 | |
Dr John W Kinney Senior Vp/ Dean School Of | 40 | $128,390 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcquire Woods Legal Services | 6/29/21 | $286,487 |
Mcquire Woods Legal Services | 6/29/21 | $286,487 |
Hirschler Fleischer Legal Services | 6/29/21 | $127,263 |
Alternative Roofing Solutions Inc Roofing Contractor | 6/29/21 | $323,810 |
Hirschler Fleischer Legal Services | 6/29/21 | $127,263 |
Alternative Roofing Solutions Inc Roofing Contractor | 6/29/21 | $323,810 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,352,639 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,799,431 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,152,070 |
| Total Program Service Revenue | $21,737,845 |
| Investment income | $801,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,545,208 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,236,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,326,596 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $855,923 |
| Compensation of current officers, directors, key employees. | $855,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,502,615 |
| Pension plan accruals and contributions | $240,982 |
| Other employee benefits | $696,135 |
| Payroll taxes | $1,076,039 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $560,906 |
| Fees for services: Accounting | $179,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $80,000 |
| Fees for services: Investment Management | $141,503 |
| Fees for services: Other | $3,855 |
| Advertising and promotion | $49,903 |
| Office expenses | $652,120 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,057,391 |
| Travel | $48,867 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $339,947 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,332,451 |
| Insurance | $512,714 |
| All other expenses | $0 |
| Total functional expenses | $45,275,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,556,291 |
| Savings and temporary cash investments | $1,653,156 |
| Pledges and grants receivable | $6,035,939 |
| Accounts receivable, net | $4,945,905 |
| 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 | $407,592 |
| Net Land, buildings, and equipment | $37,746,166 |
| Investments—publicly traded securities | $34,026,140 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,695,423 |
| Total assets | $104,066,612 |
| Accounts payable and accrued expenses | $4,267,479 |
| Grants payable | $0 |
| Deferred revenue | $2,076,463 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $5,436,523 |
| Other liabilities | $553,418 |
| Total liabilities | $12,333,883 |
| Net assets without donor restrictions | $39,608,161 |
| Net assets with donor restrictions | $52,124,568 |
| 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 | $104,066,612 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Union University has recieved totaling $3,870.
| Awarding Organization | Amount |
|---|---|
Jennie Browne Lee Tr Uw 003854-01 Nect Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $2,870 |
C Herbert Marshall Fund B Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $28,354,557 |
| Earnings | $6,424,487 |
| Net Contributions | $410,389 |
| Grants | $1,163,293 |
| Ending Balance | $34,026,140 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mount Saint Marys University Emmitsburg, MD | $202,133,149 | $126,243,509 |
University Of The Cumberlands Inc Williamsburg, KY | $474,140,732 | $211,155,067 |
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Mc Daniel College Inc Westminster, MD | $217,534,229 | $113,872,650 |
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 |
Queens University Of Charlotte Charlotte, NC | $172,081,537 | $81,135,661 |
Christian Brothers University Memphis, TN | $107,139,654 | $73,065,264 |
Hood College Of Frederick Md Frederick, MD | $239,172,984 | $86,749,150 |
Lindsey Wilson College Columbia, KY | $105,712,376 | $75,911,897 |
University Of Charleston Charleston, WV | $165,466,364 | $66,493,632 |