Cumberland University
- Assets
- $59.6m
- Revenue
- $69.2m
- Investments
- $2.1m
- Employees
- 597
- Location
- Lebanon, TN
- Founding
- 07/1944
- Data as of
- 05/2022
- EIN
- 62-0599339
Organization Overview
Cumberland University is located in Lebanon, TN. The organization was established in 1944. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2022, Cumberland University employed 597 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland 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, Cumberland University generated $69.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $64.5m during the year ending 05/2022. While expenses have increased by 9.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING PRIVATE CO-EDUCATIONAL POST-SECONDARY EDUCATION TO ALL RACES AND CREEDS OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - PRIVATE UNIVERSITY PROVIDING EDUCATION FOR APPROXIMATELY 1,780 FULL-TIME AND 483 PART-TIME UNDERGRADUATE AND 285 GRADUATE STUDENTS THROUGH ITS NINE UNDERGRADUATE DIVISIONS AND GRADUATE PROGRAMS.
STUDENT SERVICES - PROVIDE SERVICES TO THE APPROXIMATELY 2,548 STUDENTS ENROLLED IN UNDERGRADUATE AND GRADUATE PROGRAMS.
OTHER SERVICES - SERVICES OPERATED FOR THE CONVENIENCE OF ITS STUDENTS, FACULTY, AND STAFF.
GRANTS & ALLOCATIONS - PROVIDES ASSISTANCE THROUGH FUNDED AND UNFUNDED SCHOLARSHIPS AND AWARDS TO THE APPROX 1,502 STUDENTS AND THROUGH GOVT FUNDED STUDENT FINANCIAL AID PROGRAMS TO APPROX 824 STUDENTS QUALIFYING FOR GOVT ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Stumb President | OfficerTrustee | 40 | $281,188 |
Ronald Ford Chief Operating Officer | Officer | 40 | $200,000 |
C William Mckee Provost, VP Academic Affai | Officer | 40 | $158,017 |
Ron Pavan VP Enrollment, Athletic Di | Officer | 40 | $154,417 |
Judy Jordan VP Finance | Officer | 40 | $117,489 |
Cathy Gracey Secretary/trustee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Straightline Painting Painting | 5/30/22 | $214,097 |
Alan R Lequire Co Lequire Gallery Sculptor | 5/30/22 | $192,000 |
Flannery Electric Electrical | 5/30/22 | $248,220 |
Four Star Paving Paving | 5/30/22 | $391,974 |
Mark Saunders Dba Mark's Flooring Flooring | 5/30/22 | $283,456 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $214,592 |
| Related organizations | $0 |
| Government grants | $8,207,454 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,923,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,345,747 |
| Total Program Service Revenue | $54,712,158 |
| Investment income | $380,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $890,642 |
| Net Income from Fundraising Events | -$134,206 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$23,802 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,170,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $35,472,057 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,018,703 |
| Compensation of current officers, directors, key employees. | $450,984 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,943,540 |
| Pension plan accruals and contributions | $369,518 |
| Other employee benefits | $457,110 |
| Payroll taxes | $1,101,791 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,089 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,828,263 |
| Advertising and promotion | $557,577 |
| Office expenses | $2,860,008 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,768,821 |
| Travel | $2,940,483 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,063 |
| Interest | $337,221 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,048,964 |
| Insurance | $110,983 |
| All other expenses | $35,488 |
| Total functional expenses | $64,510,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,259,880 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $426,107 |
| Accounts receivable, net | $1,486,226 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $226,703 |
| Net Land, buildings, and equipment | $35,546,739 |
| Investments—publicly traded securities | $13,594,855 |
| Investments—other securities | $2,104,996 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $59,645,506 |
| Accounts payable and accrued expenses | $3,381,860 |
| Grants payable | $0 |
| Deferred revenue | $1,811,732 |
| 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 | $12,484,724 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $17,678,316 |
| Net assets without donor restrictions | $24,458,109 |
| Net assets with donor restrictions | $17,509,081 |
| 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 | $59,645,506 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cumberland University has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Oakley First National Foundation Cookeville, TN PURPOSE: EDUCATION | $40,000 |
Endowment Analysis
| Beg. Balance | $15,968,645 |
| Earnings | -$169,294 |
| Net Contributions | $641,589 |
| Other Expense | -$460,706 |
| Grants | $280,384 |
| Ending Balance | $15,699,850 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harding University Searcy, AR | $405,616,863 | $135,462,423 |
University Of The Cumberlands Inc Williamsburg, KY | $474,140,732 | $211,155,067 |
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Marymount University Arlington, VA | $272,414,108 | $118,614,940 |
Rockhurst University Kansas City, MO | $176,706,478 | $126,555,115 |
Columbia College Columbia, MO | $267,475,036 | $84,570,180 |
Gardner-Webb University Boiling Springs, NC | $163,499,840 | $100,956,877 |
Park University Parkville, MO | $196,638,780 | $102,110,275 |
Meredith College Raleigh, NC | $208,277,395 | $93,593,801 |
Georgia Tech Athletic Association Atlanta, GA | $397,031,896 | $79,492,257 |
Queens University Of Charlotte Charlotte, NC | $172,081,537 | $81,135,661 |
William Carey University Hattiesburg, MS | $258,133,608 | $93,416,449 |