Louisburg College
- Assets
- $47.9m
- Revenue
- $23.0m
- Investments
- $792.0k
- Employees
- 263
- Location
- Louisburg, NC
- Founding
- 05/1946
- Data as of
- 05/2022
- EIN
- 56-0547511
Organization Overview
Louisburg College is located in Louisburg, NC. The organization was established in 1946. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Louisburg College employed 263 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisburg 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 05/2022, Louisburg College generated $23.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $20.9m during the year ending 05/2022. 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 BRIDGE FOR STUDENTS TO TRANSITION FROM HIGH SCHOOL TO SENIOR COLLEGES AND UNIVERSITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLEGE CONTINUES TO ENJOY A CONSISTENT INCREASE OF STUDENTS WITH HIGHER GPA AVERAGES, AND HIGHER SAT/ACT SCORES IN MATH, ALL AS A RESULT OF STRATEGIC RECRUITMENT EFFORTS.COURSE COMPLETION RATES FOR THE YEAR TOTALED 73%.CONFIRMATION OF LOUISBURG'S SUCCESS IN PREPARING STUDENTS FOR THE NEXT STEPS IN THEIR COLLEGIATE CAREERS IS EVIDENCED BY THE NUMBER THAT TRANSFER TO FOUR-YEAR INSTITUTIONS. OF THE GRADUATES OVER THE PAST FIVE YEARS, 73% OF THEM HAVE TRANSFERRED TO FOUR-YEAR INSTITUTIONS SUCH AS EAST CAROLINA UNIVERSITY, UNC GREENSBORO, NC CENTRAL UNIVERISTY, AND UNC CHARLOTTE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Gary M Brown President | Officer | 40 | $220,000 |
Stephanie Tolbert Vice President Of Enrollment | Officer | 40 | $115,000 |
Dr Calandra D Lockhart Vice President Of Acedemic Life | Officer | 40 | $91,385 |
Anna Faatiliga CFO | Officer | 40 | $85,000 |
Dr Steven Brooks Chairman | OfficerTrustee | 2 | $0 |
D Tadley Deberry Vice Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartwells Dining Services | 5/30/21 | $1,197,088 |
National Management Resources Corp Janitorial Services | 5/30/21 | $379,948 |
Allred Mechanical Hvac Services | 5/30/21 | $145,642 |
Transact Campus Camera Licenses | 5/30/21 | $120,668 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,722,073 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,042,477 |
| Noncash contributions included in lines 1a–1f | $12,385 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,764,550 |
| Total Program Service Revenue | $14,662,918 |
| Investment income | $533,809 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,993 |
| Net Gain/Loss on Asset Sales | $868,527 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,005,525 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,225,520 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $622,238 |
| Compensation of current officers, directors, key employees. | $124,235 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,802,765 |
| Pension plan accruals and contributions | $167,522 |
| Other employee benefits | $447,816 |
| Payroll taxes | $331,472 |
| Fees for services: Management | $68,975 |
| Fees for services: Legal | $14,632 |
| Fees for services: Accounting | $109,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $88,775 |
| Fees for services: Other | $351,163 |
| Advertising and promotion | $282,985 |
| Office expenses | $229,059 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $455,383 |
| Travel | $206,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $692,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,369,278 |
| Insurance | $473,282 |
| All other expenses | $111,751 |
| Total functional expenses | $20,893,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,984 |
| Savings and temporary cash investments | $4,576,492 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $974,970 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $347,793 |
| Prepaid expenses and deferred charges | $221,284 |
| Net Land, buildings, and equipment | $26,449,565 |
| Investments—publicly traded securities | $14,206,427 |
| Investments—other securities | $792,031 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $47,886,546 |
| Accounts payable and accrued expenses | $1,034,136 |
| Grants payable | $0 |
| Deferred revenue | $617,746 |
| 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 | $18,585,264 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $118,281 |
| Total liabilities | $20,355,427 |
| Net assets without donor restrictions | $11,892,998 |
| Net assets with donor restrictions | $15,638,121 |
| 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 | $47,886,546 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Louisburg College has recieved totaling $353,608.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $175,000 |
Robert P Holding Foundation Inc Smithfield, NC PURPOSE: GENERAL SUPPORT | $50,000 |
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: EDUCATION | $44,350 |
North Carolina Independent Colleges & Universities Raleigh, NC PURPOSE: PROVIDE SCHOLARSHIP FUNDS | $27,914 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 4 GRANT(S) FOR VARYING PURPOSES | $20,544 |
Nickolas Bunn Boddie Sr & Lucy Maye Boddie Foundation Term Rocky Mount, NC PURPOSE: CHARITABLE | $20,000 |
Endowment Analysis
| Beg. Balance | $16,299,122 |
| Earnings | -$982,996 |
| Admin Expense | $88,775 |
| Net Contributions | $288,574 |
| Grants | $715,010 |
| Ending Balance | $14,800,915 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Young Harris College Young Harris, GA | $174,387,873 | $47,760,154 |
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Truett Mcconnell University Inc Cleveland, GA | $54,652,969 | $32,427,096 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Spartanburg Methodist College Spartanburg, SC | $52,317,686 | $26,371,934 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |
Wilkes Community College Foundation Inc Wilkesboro, NC | $12,311,546 | $8,211,087 |