Faulkner University
- Assets
- $101.6m
- Revenue
- $70.1m
- Investments
- $0.0
- Employees
- 951
- Location
- Montgomery, AL
- Founding
- 02/1950
- Data as of
- 05/2022
- EIN
- 63-0329409
Organization Overview
Faulkner University is located in Montgomery, AL. The organization was established in 1950. 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, Faulkner University employed 951 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faulkner 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, Faulkner University generated $70.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $66.3m during the year ending 05/2022. While expenses have increased by 2.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL INSTITUTION
Describe the Organization's Program Activity:
INSTRUCTION, PUBLIC SERVICE AND ACADEMIC SUPPORT-EDUCATIONAL COURSES LEADING TO A COLLEGE DEGREE
STUDENT SERVICE - OTHER NON-INSTRUCTIONAL SERVICES PROVIDED FOR STUDENTS
AUXILIARY ENTERPRISES - PROVIDED LODGING, BOARD, BOOKS AND RELATED SUPPLIES AND NEEDS FOR STUDENTS AND THE CAMPUS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael D Williams Former University President | Officer | 60 | $279,320 |
Dave Khadanga Dean-College Of Business | Officer | 45 | $220,564 |
Rosie Khadanga Professor | 40 | $169,275 | |
Charles Campbell Dean-Jones School Of Law | Officer | 45 | $164,555 |
Dave Rampersad Vice President-Academics | Officer | 50 | $156,259 |
Gerald Jones University General Counsel | 50 | $146,069 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Culinary Management Solutions Cafeteria & Catering Services | 5/30/22 | $1,884,947 |
National Management Resources Maintenance Outsourcing | 5/30/22 | $1,507,816 |
Holley Marketing Consultants Llc Advertising/marketing | 5/30/22 | $1,073,968 |
Marshall Design Build Llc Contractor | 5/30/22 | $3,021,042 |
Efc Systems Inc Computer Outsourcing Services | 5/30/22 | $1,208,685 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $295,207 |
| Related organizations | $0 |
| Government grants | $11,163,778 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,327,453 |
| Noncash contributions included in lines 1a–1f | $5,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,786,438 |
| Total Program Service Revenue | $52,190,772 |
| Investment income | $829,642 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $165,854 |
| Net Gain/Loss on Asset Sales | $163,287 |
| Net Income from Fundraising Events | -$289,122 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,137,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,513,228 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,065,720 |
| Compensation of current officers, directors, key employees. | $846,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,262,816 |
| Pension plan accruals and contributions | $131,965 |
| Other employee benefits | $3,140,970 |
| Payroll taxes | $1,363,363 |
| Fees for services: Management | $23,389 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $63,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,800 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $200,526 |
| Advertising and promotion | $1,486,579 |
| Office expenses | $1,043,107 |
| Information technology | $1,132,466 |
| Royalties | $0 |
| Occupancy | $3,004,729 |
| Travel | $642,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $294,443 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,579,629 |
| Insurance | $149,016 |
| All other expenses | $553,619 |
| Total functional expenses | $66,259,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,704,312 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,662,489 |
| Accounts receivable, net | $4,911,830 |
| 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 | $0 |
| Net Land, buildings, and equipment | $63,901,648 |
| Investments—publicly traded securities | $23,675,518 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $733,409 |
| Total assets | $101,589,206 |
| Accounts payable and accrued expenses | $5,774,976 |
| Grants payable | $0 |
| Deferred revenue | $5,526,996 |
| Tax-exempt bond liabilities | $31,186,071 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $19,905 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $679,844 |
| Total liabilities | $43,187,792 |
| Net assets without donor restrictions | $35,885,266 |
| Net assets with donor restrictions | $22,516,148 |
| 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 | $101,589,206 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Faulkner University has recieved totaling $2,365.
| Awarding Organization | Amount |
|---|---|
Naphcare Charitable Foundation Birmingham, AL PURPOSE: COLLEGE SCHOLARSHIP FOR ARIANNA REEVES | $2,365 |
Endowment Analysis
| Beg. Balance | $21,332,494 |
| Earnings | $73,322 |
| Net Contributions | $54,051 |
| Other Expense | $694,735 |
| Ending Balance | $20,765,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Mississippi College Clinton, MS | $268,873,931 | $113,425,007 |
Ringling College Of Art And Design Inc Sarasota, FL | $401,598,018 | $119,229,866 |
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 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |
Birmingham-Southern College Birmingham, AL | $106,162,162 | $42,694,906 |
Flagler College Inc St Augustine, FL | $205,599,935 | $73,291,832 |