Virginia University Of Lynchburg Inc
- Assets
- $15.3m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 104
- Location
- Lynchburg, VA
- Founding
- 09/1946
- Data as of
- 06/2022
- EIN
- 54-0714277
Organization Overview
Virginia University Of Lynchburg Inc is located in Lynchburg, VA. The organization was established in 1946. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Virginia University Of Lynchburg Inc employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia University Of Lynchburg Inc 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, Virginia University Of Lynchburg Inc generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $7.5m during the year ending 06/2022. While expenses have increased by 8.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SOLID LIBERAL ARTS AND CHRISTIAN EDUCATION PROGRAM TO ALL STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTITUTION IS A HBCU LIBERAL ARTS UNIVERSITY OFFERING UNDERGRADUATE AND GRADUATE DEGREES IN VARIOUS MAJORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K Franklin President | OfficerTrustee | 40 | $162,240 |
L Owens Chair | Trustee | 1 | $0 |
C Webb Vice Chair | Trustee | 1 | $0 |
W Wilson Treasurer | Trustee | 1 | $0 |
C Whitfield Trustee | Trustee | 1 | $0 |
L Maxwell Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,493,042 |
| All other contributions, gifts, grants, and similar amounts not included above | $403,058 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,896,100 |
| Total Program Service Revenue | $7,366,410 |
| Investment income | $26,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $755,991 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,059,992 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $162,240 |
| Compensation of current officers, directors, key employees. | $140,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,215,889 |
| Pension plan accruals and contributions | $13,018 |
| Other employee benefits | $36,290 |
| Payroll taxes | $181,927 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,629 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,108,497 |
| Advertising and promotion | $10,611 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,623 |
| Travel | $148,011 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,045 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $250,000 |
| Insurance | $77,981 |
| All other expenses | $2,127,105 |
| Total functional expenses | $7,489,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,993,633 |
| Savings and temporary cash investments | $125,643 |
| Pledges and grants receivable | $245,957 |
| Accounts receivable, net | $416,514 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $586,596 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $69,673 |
| Net Land, buildings, and equipment | $3,634,516 |
| Investments—publicly traded securities | $1,241,774 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,314,306 |
| Accounts payable and accrued expenses | $158,102 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,968,560 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,126,662 |
| Net assets without donor restrictions | $10,163,845 |
| Net assets with donor restrictions | $3,023,799 |
| 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 | $15,314,306 |