King University
- Assets
- $69.6m
- Revenue
- $42.9m
- Investments
- $5.7m
- Employees
- 753
- Location
- Bristol, TN
- Founding
- 07/1979
- Data as of
- 05/2022
- EIN
- 58-1363100
Organization Overview
King University is located in Bristol, TN. The organization was established in 1979. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, King University employed 753 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. King 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 05/2022, King University generated $42.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $43.7m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MISSION:WE PREPARE STUDENTS IN OUR CHRISTIAN ACADEMIC COMMUNITY TO EXCEL AS THOUGHTFUL, RESOURCEFUL, AND RESPONSIBLE CITIZENS WITH A PASSION FOR SERVING GOD, THE CHURCH, AND THE WORLD. WE ACCOMPLISH THIS THROUGH EXCELLENT TEACHING, HIGH EXPECTATIONS, WORTHWHILE EXAMPLE, AND FIDELITY TO OUR PRESBYTERIAN HERITAGE. OUR MISSION IS THE SAME FOR ALL CAMPUSES AND SITES; FOR ONLINE LEARNING; AND FOR ALL PROGRAMS, CURRICULAR AND EXTRACURRICULAR, GRADUATE AND UNDERGRADUATE.VISION:WE AIM TO BE THE PREEMINENT SMALL TO MEDIUM-SIZED CHRISTIAN UNIVERSITY IN THE UPPER SOUTH, WITH A REPUTATION EARNED THERE AND BEYOND AS A SCHOOL SERIOUS ABOUT ITS CHRISTIAN COMMITMENT, FOCUSED ON STUDENT SUCCESS, DEDICATED TO ACADEMIC EXCELLENCE, AND SUCCESSFUL IN PRODUCING GRADUATES WHO EXCEL WHEREVER THEY LIVE, WORK, AND SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OPERATION AND MAINTENANCE OF AN INSTITUTION OF HIGHER LEARNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Alexander W Whitaker IV President; Ex-Officio | Officer | 50 | $382,201 |
Mr James P Donahue Treasurer/chief Financial | Officer | 50 | $167,749 |
Mr Brent Davison VP For Development Thru 2/2/22 | Officer | 50 | $147,315 |
Dr Matt Roberts VP For Academic Affairs | Officer | 50 | $101,304 |
Dr Jon P Harr VP For Enrollment Management | Officer | 50 | $94,561 |
Dr Robert A Littleton VP For Student Affairs | Officer | 50 | $78,238 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiley Edu Llc Online Education Services | 5/30/22 | $1,853,217 |
Premier Transportation Llc Transportation | 5/30/22 | $319,806 |
A Book Company Book Supplier | 5/30/22 | $181,416 |
Tri City Security Company Security Services | 5/30/22 | $216,328 |
Metz Culinary Management Food Services | 5/30/22 | $1,428,123 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,644,879 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,783,973 |
| Noncash contributions included in lines 1a–1f | $36,409 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,428,852 |
| Total Program Service Revenue | $34,152,261 |
| Investment income | $99,219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,251,107 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,931,439 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,581,430 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,074,782 |
| Compensation of current officers, directors, key employees. | $592,690 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,080,694 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,827,368 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,896 |
| Fees for services: Accounting | $84,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $172,473 |
| Fees for services: Other | $0 |
| Advertising and promotion | $148,846 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,077,724 |
| Travel | $712,143 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $221,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $924,215 |
| Insurance | $482,256 |
| All other expenses | $2,996,358 |
| Total functional expenses | $43,721,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,348 |
| Savings and temporary cash investments | $6,340,138 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,481,760 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $509,213 |
| Inventories for sale or use | $168,471 |
| Prepaid expenses and deferred charges | $291,706 |
| Net Land, buildings, and equipment | $16,987,206 |
| Investments—publicly traded securities | $37,857,706 |
| Investments—other securities | $5,681,203 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $218,526 |
| Total assets | $69,555,277 |
| Accounts payable and accrued expenses | $2,547,557 |
| Grants payable | $0 |
| Deferred revenue | $2,598,955 |
| 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 | $6,035,372 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,646,191 |
| Total liabilities | $12,828,075 |
| Net assets without donor restrictions | $15,269,057 |
| Net assets with donor restrictions | $41,458,145 |
| 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 | $69,555,277 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that King University has recieved totaling $740,890.
| Awarding Organization | Amount |
|---|---|
Robert L And Kathrina H Maclellan Foundation Chattanooga, TN PURPOSE: FOR GENERAL OPERATING SUPPORT. | $250,000 |
Samuel E And Mary W Thatcher Foundation Inc Miami, FL PURPOSE: GENERAL SUPPORT | $150,000 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $112,000 |
The United Company Foundation Bristol, VA PURPOSE: FUND HIGH-FIDELITY FULL-BODY PATIENT SIMULATORS FOR NURSING PROGRAM | $50,000 |
Columbus Phipps Fdn Dallas, TX PURPOSE: EDUCATIONAL GRANTS | $50,000 |
Arthur Hale Trust Ua Knoxville, TN PURPOSE: OPERATIONAL | $27,727 |
Endowment Analysis
| Beg. Balance | $37,406,380 |
| Earnings | $2,716,769 |
| Net Contributions | $201,381 |
| Other Expense | $2,762,140 |
| Ending Balance | $37,562,390 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Mississippi College Clinton, MS | $268,873,931 | $113,425,007 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |