Mars Hill University
- Assets
- $168.9m
- Revenue
- $54.4m
- Investments
- $67.6m
- Employees
- 699
- Location
- Mars Hill, NC
- Founding
- 06/1946
- Data as of
- 05/2021
- EIN
- 56-0554207
Organization Overview
Mars Hill University is located in Mars Hill, NC. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Mars Hill University employed 699 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mars Hill 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 05/2021, Mars Hill University generated $54.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $54.0m during the year ending 05/2021. 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
THE ORGANIZATION IS A PRIVATE LIBERAL ARTS UNIVESRITY OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK AND FINE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - PRIVATE LIBERAL ARTS UNIVERSITY OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK, AND FINE ARTS. APPROXIMATELY 965 STUDENTS BENEFITED.
ACADEMIC SUPPORT - SERVICES THAT ARE AN INTEGRAL PART OF THE UNIVERSITY'S PRIMARY MISSION OF EDUCATION.
PUBLIC SERVICE - ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES TO GROUPS EXTERNAL TO THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Wayne Higgins Treasurer | Trustee | 1 | $0 |
Paul Powell Trustee | Trustee | 1 | $0 |
Cheryl Pappas Trustee | Trustee | 1 | $0 |
John S Ayers Trustee | Trustee | 1 | $0 |
Carole Martin Trustee | Trustee | 1 | $0 |
Doug Buchanan Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chartwells Food Service Contractor | 5/30/23 | $2,434,498 |
National Management Resources Corporatio Facilities Contractor | 5/30/23 | $1,386,296 |
Synergi Partners Inc Erc Tax Cretid Preparation | 5/30/23 | $398,523 |
Scana Energy Marketing Inc Building Contractor | 5/30/23 | $335,010 |
Sky Runner Internet Internet Services | 5/30/23 | $327,477 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,189,843 |
| Investment income | $309,178 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $141,020 |
| Net Gain/Loss on Asset Sales | $2,852,053 |
| Net Income from Fundraising Events | -$75 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,418,250 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $19,974,702 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $878,808 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,492,339 |
| Pension plan accruals and contributions | $516,219 |
| Other employee benefits | $2,130,750 |
| Payroll taxes | $1,104,117 |
| 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 | $0 |
| Fees for services: Other | $1,188,743 |
| Advertising and promotion | $129,113 |
| Office expenses | $1,616,173 |
| Information technology | $591,136 |
| Royalties | $0 |
| Occupancy | $1,172,121 |
| Travel | $184,480 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,413,666 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,783,112 |
| Insurance | $763,861 |
| All other expenses | $0 |
| Total functional expenses | $53,958,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,986,723 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,076,841 |
| Accounts receivable, net | $848,736 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $261,122 |
| Inventories for sale or use | $251,774 |
| Prepaid expenses and deferred charges | $152,086 |
| Investments—publicly traded securities | $3,380,679 |
| Investments—other securities | $67,641,218 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,379,692 |
| Total assets | $168,863,107 |
| Accounts payable and accrued expenses | $4,754,339 |
| Grants payable | $0 |
| Deferred revenue | $636,578 |
| 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 | $45,156,517 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,034,891 |
| Total liabilities | $52,582,325 |
| 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 | $116,280,782 |