John Wesley University Inc
- Assets
- $2.9m
- Revenue
- $1.7m
- Investments
- $8.3k
- Employees
- 87
- Location
- High Point, NC
- Founding
- 05/1946
- Data as of
- 06/2016
- EIN
- 56-0650621
Organization Overview
John Wesley University Inc is located in High Point, 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 06/2015, John Wesley University Inc employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John Wesley University 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 06/2016, John Wesley University Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2016. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 2 years. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF LAUREL UNIVERSITY IS TO BE A DISTINCTIVE BIBLICAL LEADER IN HIGHER EDUCATION. THE GRADUATES ARE PROVEN LEADERS IN LARGE AND SMALL CORPORATIONS, ACADEMIC INSTITUTIONS, BUSINESSES, AND THE MINISTRY. THE INSTITUTION'S SIZE AND INTENTIONALLY RIGOROUS CURRICULUM GUARANTEES A UNIQUE AND PROFOUND SET OF LEARNINGS OUTCOMES UPON GRADUATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUREL UNIVERSITY IS A PRIVATE, INTERDENOMINATIONAL UNIVERSITY COMMITTED TO PROVIDING QUALITY EDUCATIONAL INSTRUCTION FOR UNDERGRADUATE AND GRADUATE DEGREES IN MINISTRY AND MANAGEMENT TO APPROXIMATELY 146 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Steve Condon President | OfficerTrustee | 50 | $113,171 |
Emily Littlefield CPA VP Of Finance And Instruction | Officer | 50 | $1,353 |
Ken Rowe Trustee | Trustee | 1 | $0 |
Mark Harris Treasurer | Trustee | 1 | $0 |
Dr Lory Morrow Trustee | Trustee | 1 | $0 |
Harvey Lowd Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,963 |
| Investment income | $19,551 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,701,441 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $234,604 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $214,048 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $813,426 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $12,959 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,924 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $60,298 |
| Office expenses | $46,432 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $93,059 |
| Travel | $54,851 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $30,557 |
| Payments to affiliates | $28,191 |
| Depreciation, depletion, and amortization | $85,086 |
| Insurance | $56,116 |
| All other expenses | $28,919 |
| Total functional expenses | $2,045,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,284 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,896 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $57,860 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,855 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,343 |
| Investments—program-related | $1,028,263 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,854,467 |
| Accounts payable and accrued expenses | $121,774 |
| Grants payable | $0 |
| Deferred revenue | $3,959 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $640,409 |
| Total liabilities | $766,142 |
| Net assets without donor restrictions | $1,143,207 |
| Net assets with donor restrictions | $80,341 |
| Capital stock or trust principal, or current funds | $864,777 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,088,325 |
Endowment Analysis
| Beg. Balance | $1,180,638 |
| Earnings | $3,338 |
| Other Expense | $34,375 |
| Ending Balance | $1,149,601 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Mary Washington Foundation Fredericksburg, VA | $186,636,934 | $19,915,035 |
Lemoyne Owen College Memphis, TN | $53,577,456 | $23,441,931 |
Voorhees College Denmark, SC | $34,849,156 | $40,025,778 |
Patrick Henry College Purcellville, VA | $42,398,323 | $19,179,268 |
Brewton Parker College Inc Mount Vernon, GA | $26,983,767 | $18,922,646 |
Bennett College Greensboro, NC | $45,162,174 | $40,377,386 |
Morris College Sumter, SC | $47,268,567 | $16,212,901 |
Welch College Gallatin, TN | $41,634,056 | $11,542,139 |
Paine College Augusta, GA | $39,651,651 | $10,570,569 |
Fairfax University Of America Fairfax, VA | $12,151,860 | $8,266,608 |
Clayton State University Foundation Inc Morrow, GA | $97,218,630 | $15,697,742 |
American Baptist Theological Seminary Nashville, TN | $11,177,466 | $7,876,217 |