Carolina University
- Assets
- $16.9m
- Revenue
- $13.8m
- Investments
- $31.7k
- Employees
- 191
- Location
- WinstonSalem, NC
- Founding
- 07/1947
- Data as of
- 06/2021
- EIN
- 56-0594591
Organization Overview
Carolina University is located in WinstonSalem, NC. The organization was established in 1947. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2021, Carolina University employed 191 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina 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, Carolina University generated $13.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $14.0m during the year ending 06/2021. While expenses have increased by 11.9% 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
A CHRIST-CENTERED UNIVERSITY COMMITTED TO EXCEPTIONAL TEACHING, SCHOLARLY RESEARCH, CREATIVE INNOVATION, AND PROFESSIONAL COLLABORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION, ACADEMIC SUPPORT, AND STUDENT SERVICES ASSOCIATED WITH THE PROVISION OF ASSOCIATE, BACCALAUREATE, MASTER, AND DOCTORAL PROGRAMS IN RESIDENT AND ONLINE FORMATS.
AUXILIARY AND OTHER SERVICES IN REGARD TO THE UNIVERSITY'S PROVISION FOR HIGHER EDUCATION INCLUDING DORMITORIES, FOOD SERVICE, BOOKSTORE, SPORTING EVENTS, AND OTHER MISCELLANEOUS STUDENT SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gopalan Sandeep Exec. Vice President | Officer | 40 | $202,067 |
Petitt Charles President/ceo | Officer | 40 | $140,000 |
Condon Steve Chancellor | Officer | 40 | $132,000 |
Edens Byron Vice President | Officer | 40 | $82,000 |
Ronk Christopher Chief Financial Officer | Officer | 40 | $77,000 |
Alford Tony Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,415,089 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,415,089 |
| Total Program Service Revenue | $10,650,970 |
| Investment income | $9,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $133,194 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,786,116 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,104,771 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $633,067 |
| Compensation of current officers, directors, key employees. | $60,915 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,324,216 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $356,979 |
| Payroll taxes | $319,829 |
| 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 | $248,656 |
| Advertising and promotion | $169,408 |
| Office expenses | $19,339 |
| Information technology | $597,693 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $160,944 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $347,737 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $452,806 |
| Insurance | $140,575 |
| All other expenses | $671,144 |
| Total functional expenses | $14,017,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,180 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,665,000 |
| Accounts receivable, net | $774,388 |
| Loans from Officers, Directors, or Controlling Persons | $40,040 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $251,402 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $126,936 |
| Net Land, buildings, and equipment | $5,378,433 |
| Investments—publicly traded securities | $430,159 |
| Investments—other securities | $31,650 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,000,000 |
| Total assets | $16,856,188 |
| Accounts payable and accrued expenses | $481,044 |
| Grants payable | $0 |
| Deferred revenue | $440,344 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $52,372 |
| Secured mortgages and notes payable | $6,129,922 |
| Unsecured mortgages and notes payable | $3,410,481 |
| Other liabilities | $2,937 |
| Total liabilities | $10,517,100 |
| Net assets without donor restrictions | $2,410,542 |
| Net assets with donor restrictions | $3,928,546 |
| 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 | $16,856,188 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Carolina University has recieved totaling $27,371.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 9 GRANT(S) FOR VARYING PURPOSES | $20,596 |
The Community Foundation Of Greater Birmingham Birmingham, AL PURPOSE: GENERAL SUPPORT | $6,275 |
Dick Horne Foundation Orangeburg, SC PURPOSE: STUDENT SCHOLARSHIP | $500 |
Endowment Analysis
| Beg. Balance | $2,841,008 |
| Earnings | $95,148 |
| Admin Expense | $38,375 |
| Ending Balance | $2,897,781 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christendom Educational Corporation Front Royal, VA | $86,152,733 | $30,827,338 |
Carolina University WinstonSalem, NC | $16,856,188 | $13,786,116 |
Institute For The Psychological Sciences Sterling, VA | $8,909,677 | $11,624,455 |
Richmont Graduate University Chattanooga, TN | $8,373,056 | $7,234,181 |
Memphis College Of Art Memphis, TN | $723,329 | $5,588,063 |
Atlanta General Education Center Inc Norcross, GA | $3,508,771 | $4,772,601 |
National Christian College Athletic Association Greenville, SC | $2,363,244 | $1,763,386 |
Project Discovery Inc Roanoke, VA | $402,058 | $1,230,095 |
South Carolina Independent Colleges And Universities Inc Columbia, SC | $4,869,816 | $1,191,380 |
California University Of Management& Sciences Fairfax, VA | $6,334,873 | $769,746 |
Jung Tao School Of Classical Chinese Medicine Sugar Grove, NC | $1,307,787 | $1,203,439 |
Boys & Girls Club Of The Plateau Cashiers, NC | $6,970,218 | $2,825,005 |