Shorter University Inc
- Assets
- $57.2m
- Revenue
- $39.8m
- Investments
- $1.6m
- Employees
- 514
- Location
- Rome, GA
- Founding
- 06/2001
- Data as of
- 05/2022
- 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 05/2022, Shorter University Inc employed 514 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 05/2022, Shorter University Inc generated $39.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $38.9m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) 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
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 2021-2022 INCLUDED 1,807 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 |
|---|---|---|---|
Dr Donald Dowless President | Officer | 60 | $195,647 |
Dr Donald Martin Provost (part Year) | 60 | $109,133 | |
Michelle Stricklin VP Of Finance, CFO | Officer | 60 | $101,777 |
Dr Ben Bruce VP Of Advancement | 40 | $101,256 | |
Mr Jerry Emerson Board Chair (part Year) | OfficerTrustee | 1 | $0 |
Mr William Fricks Board Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advanced Facilities Services Inc Ground And Building Maintenance | 5/30/22 | $348,475 |
Jenzabar Database Service | 5/30/22 | $248,490 |
Shaw Contract Flooring Services Inc Turf Field Maintenance | 5/30/22 | $458,955 |
Clark Communications Marketing Service | 5/30/22 | $281,464 |
Sysco Atlanta Llc Food Service | 5/30/22 | $445,158 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $117,373 |
| Related organizations | $2,338,769 |
| Government grants | $3,498,218 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,353,410 |
| Noncash contributions included in lines 1a–1f | $26,102 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,307,770 |
| Total Program Service Revenue | $32,367,594 |
| Investment income | $224,355 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,800 |
| Net Gain/Loss on Asset Sales | -$39,822 |
| Net Income from Fundraising Events | -$56,175 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,807,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,690,342 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $363,716 |
| Compensation of current officers, directors, key employees. | $339,345 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,274,572 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,179,999 |
| Payroll taxes | $752,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,671 |
| Fees for services: Accounting | $103,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,254 |
| Fees for services: Other | $1,436,514 |
| Advertising and promotion | $0 |
| Office expenses | $28,214 |
| Information technology | $450,544 |
| Royalties | $0 |
| Occupancy | $1,154,316 |
| Travel | $632,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $495,779 |
| Interest | $425,071 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,168,707 |
| Insurance | $862,212 |
| All other expenses | $2,379,019 |
| Total functional expenses | $38,857,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,323,311 |
| Savings and temporary cash investments | $12,690 |
| Pledges and grants receivable | $89,736 |
| Accounts receivable, net | $174,430 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,970 |
| Prepaid expenses and deferred charges | $255,175 |
| Net Land, buildings, and equipment | $32,740,223 |
| Investments—publicly traded securities | $15,686,694 |
| Investments—other securities | $1,627,202 |
| Investments—program-related | $898,860 |
| Intangible assets | $0 |
| Other assets | $356,246 |
| Total assets | $57,209,537 |
| Accounts payable and accrued expenses | $954,666 |
| Grants payable | $0 |
| Deferred revenue | $530,554 |
| 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 | $1,517,950 |
| Total liabilities | $16,766,341 |
| Net assets without donor restrictions | $25,703,070 |
| Net assets with donor restrictions | $14,740,126 |
| 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 | $57,209,537 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Shorter University Inc has recieved totaling $524,526.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $267,000 |
The Benjamin F Brady Charitable Foundation Cumming, GA PURPOSE: TO FUND DORMITORY RENOVATIONS | $100,000 |
Georgia Independent College Association Inc Atlanta, GA PURPOSE: TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA | $56,151 |
Fisher-Crum Foundation Inc Albany, GA PURPOSE: CHARITABLE, EDUCATIONAL OR RELIGIOUS | $41,375 |
Tiscornia Foundation Incorporated St Joseph, MI PURPOSE: EDUCATION | $15,000 |
Paul C And Velma Smith Maddox Foundation Inc Orlando, FL PURPOSE: GENERAL OPERATING | $13,000 |
Endowment Analysis
| Beg. Balance | $10,457,066 |
| Earnings | $195,803 |
| Net Contributions | $105,420 |
| Grants | $667,600 |
| Ending Balance | $10,090,689 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Georgia Foundation Athens, GA | $1,813,135,367 | $241,177,913 |
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
University Of South Carolina Educational Foundation Columbia, SC | $607,523,681 | $89,201,263 |
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |