Shorter University Inc
- Assets
- $59.1m
- Revenue
- $39.4m
- Investments
- $1.6m
- Employees
- 483
- Location
- Rome, GA
- Founding
- 06/2001
- Data as of
- 05/2023
- EIN
- 58-2624570
Organization Overview
Shorter University Inc is located in Rome, GA. The organization was established in 2001. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 05/2023, Shorter University Inc employed 483 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shorter 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 05/2023, Shorter University Inc generated $39.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $37.6m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SHORTER UNIVERSITY IS A PRIVATE CHRISTIAN NON-PROFIT COMPREHENSIVE LIBERAL ARTS INSTITUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - FUNDS EXPENDED FOR INSTRUCTIONAL ACTIVITIES IN ASSOCIATE, BACHELOR, AND MASTER DEGREE PROGRAMS. ENROLLMENT IN 2022-2023 INCLUDED 1,934 STUDENTS. SCHOLARSHIP AND FINANCIAL AID - COMPREHENSIVE FINANCIAL ASSISTANCE PROGRAM INCLUDES SCHOLARSHIPS, GRANTS, LOANS AND PART-TIME CAMPUS EMPLOYMENT. EVERY STUDENT ENROLLED FULL-TIME AT SHORTER UNIVERSITY RECEIVES SOME FORM OF FINANCIAL ASSISTANCE.
STUDENT SUPPORT - FUNDS EXPENDED FOR ACTIVITIES CONTRIBUTING TO STUDENTS' WELL BEING AND INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE OF FORMAL INSTRUCTION.
ACADEMIC SUPPORT - EXPENDITURES INTEGRAL TO THE OPERATION AND SUPPORT OF THE ACADEMIC SERVICES OF THE UNIVERSITY. AUXILIARY ENTERPRISES - EXPENDITURES TO PROVIDE SERVICES TO STUDENT, FACULTY, AND STAFF INCLUDING HOUSING, CAFETERIA, AND BOOKSTORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Vice-Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Ex Officio Member | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Board Chair (part Year) | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advanced Facilities Services Inc Ground And Building Maintenance | 5/30/23 | $323,357 |
Stephens & Mcrae Hvac | 5/30/23 | $325,764 |
Technical & Scientific Application Purchased Computers/wi-fi Upgrades | 5/30/23 | $907,087 |
Jenzabar Database Service | 5/30/23 | $306,854 |
Smith Construction Construction/renovation | 5/30/23 | $1,050,620 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $204,968 |
| Related organizations | $2,251,809 |
| Government grants | $1,952,305 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,271,926 |
| Noncash contributions included in lines 1a–1f | $146,498 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,681,008 |
| Total Program Service Revenue | $32,532,561 |
| Investment income | $255,945 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,272 |
| Net Gain/Loss on Asset Sales | $750 |
| Net Income from Fundraising Events | -$51,538 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,445,998 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,021,143 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $335,272 |
| Compensation of current officers, directors, key employees. | $317,674 |
| Compensation to disqualified persons | $98,126 |
| Other salaries and wages | $10,634,588 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,130,123 |
| Payroll taxes | $757,252 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,900 |
| Fees for services: Accounting | $121,476 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $219,475 |
| Fees for services: Other | $1,519,975 |
| Advertising and promotion | $0 |
| Office expenses | $30,131 |
| Information technology | $490,185 |
| Royalties | $0 |
| Occupancy | $1,148,442 |
| Travel | $640,599 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $758,641 |
| Interest | $474,447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,196,135 |
| Insurance | $785,804 |
| All other expenses | $2,788,311 |
| Total functional expenses | $37,633,728 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,712,087 |
| Savings and temporary cash investments | $19 |
| Pledges and grants receivable | $1,256 |
| Accounts receivable, net | $287,868 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $49,387 |
| Prepaid expenses and deferred charges | $406,318 |
| Net Land, buildings, and equipment | $33,994,488 |
| Investments—publicly traded securities | $15,838,238 |
| Investments—other securities | $1,594,272 |
| Investments—program-related | $895,239 |
| Intangible assets | $0 |
| Other assets | $357,515 |
| Total assets | $59,136,687 |
| Accounts payable and accrued expenses | $1,232,087 |
| Grants payable | $0 |
| Deferred revenue | $396,289 |
| 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 | $13,763,171 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,505,634 |
| Total liabilities | $16,897,181 |
| Net assets without donor restrictions | $27,819,452 |
| Net assets with donor restrictions | $14,420,054 |
| 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 | $59,136,687 |