William Carey University
- Assets
- $258.1m
- Revenue
- $93.4m
- Investments
- $0.0
- Employees
- 1,245
- Location
- Hattiesburg, MS
- Founding
- 03/1973
- Data as of
- 06/2021
- EIN
- 64-0329300
Organization Overview
William Carey University is located in Hattiesburg, MS. The organization was established in 1973. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, William Carey University employed 1,245 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William Carey 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 06/2021, William Carey University generated $93.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $83.8m during the year ending 06/2021. While expenses have increased by 6.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
AS A CHRISTIAN UNIVERSITY WHICH EMBRACES ITS BAPTIST HERITAGE AND NAMESAKE, WILLIAM CAREY UNIVERSITY PROVIDES QUALITY EDUCATIONAL PROGRAMS WITHIN A CARING CHRISTIAN ACADEMIC COMMUNITY, WHICH CHALLENGE THE INDIVIDUAL STUDENT TO EXCEL IN SCHOLARSHIP, LEADERSHIP, AND SERVICE IN A DIVERSE GLOBAL SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC PROGRAMSTHE UNIVERSITY MAINTAINS UNDERGRADUATE AND GRADUATE PROGRAMS AT THREECAMPUSES. ENROLLMENT HAS GROWN TO INCLUDE OVER 5,000 STUDENTS. THE UNIVERSITY DESIGNS AND OPERATES ITS PROGRAMS TO ENCOURAGE EACH STUDENT TO DEVELOP HIS/HER HIGHEST POTENTIAL IN LIBERAL ARTS AND/OR PROFESSIONAL EDUCATION.
STUDENT AIDDIRECT AID TO STUDENTS PRIMARILY FROM INSTITUTIONAL FUNDS
AUXILIARY ENTERPRISES INCLUDE DINING, HOUSING, AND ATHLETICS.AUXILIARY PROGRAMS PROVIDE HOUSING AND DINING SERVICES FOR THE STUDENTS WHO NEED OR WANT TO LIVE ON CAMPUS. THE ATHLETIC PROGRAMS ENCOURAGE LOYALTY TO THE UNIVERSITY AND A SENSE OF UNITY AMONG STUDENTS AND FACULTY. IN PROVIDING THESE PROGRAMS, THE UNIVERSITY ENCOURAGES THE EXERCISE OF STUDENT TALENT, WHICH ENHANCES THE LEARNING EXPERIENCES OF THE STUDENTS INVOLVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Italo Subbarao Professor Of Clinical Sciences; Dean College Of Os | Officer | 40 | $438,652 |
Raymond King Former President And Chief Executive Officer | 40 | $302,449 | |
Keith Speed Professor Of Clinical Sciences; Senior Associate D | 40 | $273,361 | |
Michael Malloy Professor Of Pharmacy And Dean, School Of Pharmac | 40 | $231,641 | |
Melissa Stephens Professor Of Clinical Sciences; Associate Dean, P | 40 | $231,485 | |
Tonya Creech Assistant Professor Of Preclinical Sciences; Chai | 40 | $222,458 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mac's Construction Company Llc Construction Services | 6/29/22 | $6,286,151 |
Mmi Dining Systems Llc Food Services | 6/29/22 | $1,682,608 |
Vision Integration Audio Video Services | 6/29/22 | $1,072,815 |
Hanco Corporation Construction Services | 6/29/22 | $765,532 |
Dell Marketing It Services | 6/29/22 | $740,331 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,509,298 |
| Investment income | $833,605 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,098 |
| Net Rental Income | $45,050 |
| Net Gain/Loss on Asset Sales | $1,203,077 |
| Net Income from Fundraising Events | $2,111 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $93,416,449 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $12,712,839 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,329,619 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,289,627 |
| Pension plan accruals and contributions | $1,422,535 |
| Other employee benefits | $3,629,397 |
| Payroll taxes | $2,281,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $33,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,985,746 |
| Advertising and promotion | $292,572 |
| Office expenses | $356,119 |
| Information technology | $809,854 |
| Royalties | $0 |
| Occupancy | $2,366,342 |
| Travel | $548,218 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $592,573 |
| Interest | $1,037,299 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,455,698 |
| Insurance | $1,731,444 |
| All other expenses | $0 |
| Total functional expenses | $83,785,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,469,208 |
| Savings and temporary cash investments | $13,201,585 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,963,693 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $45,422 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $122,788 |
| Investments—publicly traded securities | $27,225,423 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,154,107 |
| Total assets | $258,133,608 |
| Accounts payable and accrued expenses | $5,111,645 |
| Grants payable | $0 |
| Deferred revenue | $4,590,989 |
| 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 | $46,171,032 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $136,737 |
| Total liabilities | $56,010,403 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $202,123,205 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that William Carey University has recieved totaling $1,814,203.
| Awarding Organization | Amount |
|---|---|
Centene Charitable Foundation St Louis, MO PURPOSE: WCUCOM INSTITUTE FOR PRIMARY CARE | $1,000,000 |
Asbury Foundation Of Hattiesburg Inc Hattiesburg, MS PURPOSE: GRANT FOR COLLEGE OF HEALTH SCIENCE BUILDING, SCHOLARSHIP | $700,000 |
Kelly Gene Cook Sr Charitable Foundation Inc Houston, TX PURPOSE: SCHOLARSHIPS - DRUMMON, SINGH | $26,000 |
W H Ellsworth Uw Fbo Hawthorne- Cedar Knolls School Etal 324291 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $25,000 |
First Baptist Church Foundation Of Laurel Inc Laurel, MS PURPOSE: SCHOLARSHIPS | $24,500 |
Mississippi United Methodist Foundation Inc Ridgeland, MS PURPOSE: FULFILL CHARITABLE INTENT OF ENDOWMENT | $15,000 |
Endowment Analysis
| Beg. Balance | $27,225,422 |
| Earnings | -$4,726,414 |
| Admin Expense | $10,578 |
| Net Contributions | $6,480,708 |
| Grants | $569,630 |
| Ending Balance | $28,399,508 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Belmont University Nashville, TN | $1,474,473,117 | $464,356,154 |
Samford University Birmingham, AL | $801,305,714 | $280,325,292 |
Lipscomb University Nashville, TN | $502,799,879 | $216,257,194 |
Loyola University New Orleans, LA | $507,723,751 | $180,729,254 |
Lincoln Memorial University Harrogate, TN | $295,338,228 | $171,241,775 |
University Of The South Sewanee, TN | $873,880,393 | $255,900,013 |
Xavier University Of Louisiana New Orleans, LA | $472,117,353 | $172,171,417 |
Tuskegee University Tuskegee Institute, AL | $403,219,551 | $145,868,364 |
Harding University Searcy, AR | $405,616,863 | $135,462,423 |
William Carey University Hattiesburg, MS | $258,133,608 | $93,416,449 |
Christian Brothers University Memphis, TN | $107,139,654 | $73,065,264 |
Cumberland University Lebanon, TN | $59,645,506 | $69,170,999 |