Gardner-Webb University
- Assets
- $163.5m
- Revenue
- $101.0m
- Investments
- $7.8m
- Employees
- 1,377
- Location
- Boiling Springs, NC
- Founding
- 08/2000
- Data as of
- 06/2021
- EIN
- 56-0529972
Organization Overview
Gardner-Webb University is located in Boiling Springs, NC. The organization was established in 2000. 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, Gardner-Webb University employed 1,377 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gardner-Webb 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, Gardner-Webb University generated $101.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $95.3m during the year ending 06/2021. While expenses have increased by 1.5% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GARDNER-WEBB UNIVERSITY, A PRIVATE, CHRISTIAN, BAPTIST-RELATED UNIVERSITY, PROVIDES OUTSTANDING UNDERGRADUATE AND GRADUATE EDUCATION THAT IS STRONGLY GROUNDED IN THE LIBERAL ARTS WHILE OFFERING OPPORTUNITIES TO PREPARE FOR VARIOUS PROFESSIONS. FOSTERING MEANINGFUL INTELLECTUAL THOUGHT, CRITICAL ANALYSIS, AND SPIRITUAL CHALLENGE WITHIN A DIVERSE COMMUNITY OF LEARNING, GARDNER-WEBB IS DEDICATED TO HIGHER EDUCATION THAT INTEGRATES SCHOLARSHIP WITH CHRISTIAN LIFE. BY EMBRACING FAITH AND INTELLECTUAL FREEDOM, BALANCING CONVICTION WITH COMPASSION, AND INSPIRING A LOVE OF LEARNING, SERVICE, AND LEADERSHIP, GARDNER-WEBB PREPARES ITS GRADUATES TO MAKE SIGNIFICANT CONTRIBUTIONS FOR GOD AND HUMANITY IN AN EVER-CHANGING GLOBAL COMMUNITY.
Describe the Organization's Program Activity:
THE PRIMARY GOAL OF GARDNER-WEBB UNIVERSITY IS TO PROVIDE EDUCATION TO STUDENTS. THE UNIVERSITY OFFERS UNDERGRADUATE, GRADUATE AND DOCTORAL DEGREES. THE UNIVERSITY ENROLLED APPROXIMATELY 4,274 STUDENTS DURING 2020-2021 AND AWARDED APPROXIMATELY $32M IN SCHOLARSHIPS AND TUITION ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William M Downs President | Officer | 40 | $365,112 |
James Craft Head Men's Basketball Coach | 40 | $193,113 | |
Arnold F Bonner Former President | 40 | $176,796 | |
Prince Bull Professor/dean Of School Of Educ. | 40 | $168,365 | |
Mike W Hardin Senior VP For Administration | Officer | 40 | $162,212 |
Benjamin C Leslie Provost & Evp | Officer | 40 | $158,679 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eab Consulting Services | 6/29/21 | $469,924 |
Sodexo Cafeteria Services | 6/29/21 | $2,916,936 |
K12 Teachers Alliance Recruiting Services | 6/29/21 | $1,367,501 |
The Budd Group Janitorial Services | 6/29/21 | $333,380 |
Ellucian Company Consulting Services | 6/29/21 | $191,825 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,471,898 |
| Investment income | $1,267,939 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,492 |
| Net Gain/Loss on Asset Sales | $4,009,388 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $100,956,877 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $34,405,267 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $695,167 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,373,587 |
| Pension plan accruals and contributions | $1,053,906 |
| Other employee benefits | $3,479,809 |
| Payroll taxes | $1,991,530 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,732 |
| Fees for services: Accounting | $55,234 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $301,307 |
| Fees for services: Other | $350,292 |
| Advertising and promotion | $2,200,300 |
| Office expenses | $1,035,032 |
| Information technology | $949,050 |
| Royalties | $0 |
| Occupancy | $2,384,261 |
| Travel | $843,192 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $804,309 |
| Interest | $1,123,016 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,304,780 |
| Insurance | $723,084 |
| All other expenses | $0 |
| Total functional expenses | $95,283,903 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,028,617 |
| Pledges and grants receivable | $5,716,253 |
| Accounts receivable, net | $1,728,761 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $393,853 |
| Prepaid expenses and deferred charges | $1,067,753 |
| Investments—publicly traded securities | $68,248,986 |
| Investments—other securities | $7,839,712 |
| Investments—program-related | $2,042,035 |
| Intangible assets | $0 |
| Other assets | $385,146 |
| Total assets | $163,499,840 |
| Accounts payable and accrued expenses | $3,883,851 |
| Grants payable | $0 |
| Deferred revenue | $3,974,909 |
| Tax-exempt bond liabilities | $22,377,649 |
| Escrow or custodial account liability | $112,350 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,636,047 |
| Total liabilities | $31,984,806 |
| 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 | $131,515,034 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Gardner-Webb University has recieved totaling $864,723.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $230,000 |
The James W Davis Foundation Inc Statesville, NC PURPOSE: NURSING EDUCATION | $150,000 |
Brinkley Family Foundation Kings Mountain, NC PURPOSE: TO PROVIDE FUNDING FOR EDUCATIONAL OPPORTUNITIES TO STUDENTS | $105,000 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $50,000 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $47,055 |
North Carolina Independent Colleges & Universities Raleigh, NC PURPOSE: PROVIDE SCHOLARSHIP FUNDS | $45,581 |
Endowment Analysis
| Beg. Balance | $61,459,999 |
| Earnings | $15,048,648 |
| Net Contributions | $1,769,562 |
| Other Expense | $2,391,228 |
| Ending Balance | $75,886,981 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Winstonsalem, NC | $2,570,183,256 | $681,736,258 |
Emory University Decatur, GA | $308,834,835 | $526,678,235 |
Savannah College Of Art And Design Inc Savannah, GA | $1,297,162,714 | $587,003,201 |
University Of Richmond Richmond, VA | $3,926,462,707 | $713,801,637 |
The Corporation Of Mercer University Macon, GA | $975,470,567 | $444,048,225 |
Belmont University Nashville, TN | $1,474,473,117 | $464,356,154 |
Elon University Elon, NC | $1,076,200,947 | $374,224,853 |
Campbell University Inc Buies Creek, NC | $678,742,436 | $263,777,466 |
Lipscomb University Nashville, TN | $502,799,879 | $216,257,194 |
Hampton University Hampton, VA | $893,877,520 | $270,327,094 |
Lincoln Memorial University Harrogate, TN | $295,338,228 | $171,241,775 |
Wingate University Wingate, NC | $260,864,195 | $150,590,058 |