Shorter College
- Assets
- $15.3m
- Revenue
- $13.4m
- Investments
- $0.0
- Employees
- 164
- Location
- North Little Rock, AR
- Founding
- 06/1946
- Data as of
- 06/2023
- EIN
- 71-0350954
Organization Overview
Shorter College is located in North Little Rock, AR. The organization was established in 1946. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Shorter College employed 164 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shorter College 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 06/2023, Shorter College generated $13.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $11.5m during the year ending 06/2023. While expenses have increased by 16.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SHORTER COLLEGE IS A PRIVATE CO EDUCATIONAL 2 YEAR INSTITUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION SUCCESSFULLY COMPLETED ANOTHER ACADEMIC SCHOOL YEAR ADDING VALUE TO THE COMMUNITY AND THE STUDENTS IT SERVES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheila Washington Board Member | Trustee | 5 | $0 |
Rev Tyrone Broomfield Board Member | Trustee | 5 | $0 |
Dr Carolyn Jones Board Member | Trustee | 5 | $0 |
Rev Marcellus Fields Board Member | Trustee | 5 | $0 |
George Mackey CFO | Officer | 40 | $0 |
Bishop Michael Mitchell Chariman | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,159,534 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,218,968 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,378,502 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,378,502 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,443,763 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,100 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,068,859 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $323,986 |
| Office expenses | $262,864 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,188,763 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $424,342 |
| Interest | $2,304 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $339,466 |
| Insurance | $432,175 |
| All other expenses | $31,109 |
| Total functional expenses | $11,525,936 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,210,206 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $173,494 |
| 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 | $1,700 |
| Net Land, buildings, and equipment | $12,962,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,348,294 |
| Accounts payable and accrued expenses | $1,194,364 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $127,277 |
| Other liabilities | $0 |
| Total liabilities | $1,321,641 |
| Net assets without donor restrictions | $13,426,653 |
| Net assets with donor restrictions | $600,000 |
| 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 | $15,348,294 |