Oglethorpe University Inc
- Assets
- $134.4m
- Revenue
- $78.8m
- Investments
- $264.5k
- Employees
- 711
- Location
- Atlanta, GA
- Founding
- 01/1936
- Data as of
- 06/2021
- EIN
- 58-0568698
Organization Overview
Oglethorpe University Inc is located in Atlanta, GA. The organization was established in 1936. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Oglethorpe University Inc employed 711 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oglethorpe 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 06/2021, Oglethorpe University Inc generated $78.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $67.3m during the year ending 06/2021. While expenses have increased by 5.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSTITUTION OF HIGHER EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - THE COST OF OFFERING THE ACADEMIC PROGRAMS.
STUDENT SERVICES - THE COSTS OF EXTRACURRICULAR AND STUDENT-ORIENTED SERVICES AND PROGRAMS DESIGNED TO ENHANCE THE LEARNING ENVIRONMENT.
ACADEMIC SUPPORT, THE COSTS OF ACTIVITIES ASSOCIATED WITH THE SUPPORT OF THE CAMPUS AND RESIDENTIAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman P Findley III Vice Chair | OfficerTrustee | 2 | $0 |
Joselyn Butler Baker Secretary | OfficerTrustee | 2 | $0 |
Milford Mcguirt Treasurer | OfficerTrustee | 2 | $0 |
Cameron M Bready Chair | OfficerTrustee | 2 | $0 |
Mr Richard Bakare Trustee | Trustee | 1 | $0 |
Ms Virginia Bennett Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sheridan Construction Construction Services | 6/29/23 | $1,607,076 |
Aramark Services Food Service Vendor | 6/29/23 | $2,811,960 |
P3 Painting And Renovations Inc Painting & Repairs Services | 6/29/23 | $408,993 |
Mckenney's Inc Hvac Services | 6/29/23 | $310,874 |
Gc Roofing & Restoration Damage Repairs Services | 6/29/23 | $265,496 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,012,512 |
| Investment income | $45,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,845,301 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,096 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,800,641 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $34,748,866 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,114,088 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,870,163 |
| Pension plan accruals and contributions | $582,162 |
| Other employee benefits | $1,246,235 |
| Payroll taxes | $995,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,510 |
| Fees for services: Accounting | $86,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $133,930 |
| Fees for services: Other | $0 |
| Advertising and promotion | $188,326 |
| Office expenses | $0 |
| Information technology | $1,553,102 |
| Royalties | $0 |
| Occupancy | $771,263 |
| Travel | $353,614 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $279,897 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,293,512 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $67,329,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,330,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,024,369 |
| Accounts receivable, net | $538,243 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $47,645 |
| Prepaid expenses and deferred charges | $84,683 |
| Investments—publicly traded securities | $46,136,756 |
| Investments—other securities | $264,474 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,057,280 |
| Total assets | $134,446,425 |
| Accounts payable and accrued expenses | $1,673,423 |
| Grants payable | $0 |
| Deferred revenue | $2,001,798 |
| 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 | $8,574,063 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $1,408,211 |
| Total liabilities | $15,657,495 |
| 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 | $118,788,930 |