Civic Intelligence

Paine College

990 • Fiscal year 2016 • EIN 23-7434499

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 17, 2017

1235 Fifteenth StreetAugusta, GA 30901

(706) 821-8200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.49x

Higher debt load relative to assets than 68% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

74th percentile

0.91x

Higher debt load relative to revenue than 74% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

74th percentile

12%

Higher net margin than 74% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

26th percentile

$162,500

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

65th percentile

6.1%

Faster asset growth than 65% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

22nd percentile

-9.5%

Faster revenue growth than 22% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$36,318,667

Up $2,080,499 (+6.1%) from 2015

Net Assets

Up

$18,678,507

Up $2,900,946 (+18%) from 2015

Liabilities

Down

$17,640,160

Down $820,447 (-4.4%) from 2015

Revenue

Down

$19,390,781

Down $2,042,921 (-9.5%) from 2015

Expenses

Down

$17,112,277

Down $5,670,995 (-25%) from 2015

Net Income

Up

$2,278,504

Up $3,628,074 (+269%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $25,767,243Liabilities 2010: $7,236,338Net Assets 2010: $18,530,9052010Assets 2011: $27,620,725Liabilities 2011: $8,439,754Net Assets 2011: $19,180,9712011Assets 2012: $33,319,497Liabilities 2012: $14,019,140Net Assets 2012: $19,300,3572012Assets 2013: $37,211,456Liabilities 2013: $17,721,536Net Assets 2013: $19,489,9202013Assets 2014: $35,521,206Liabilities 2014: $18,439,697Net Assets 2014: $17,081,5092014Assets 2015: $34,238,168Liabilities 2015: $18,460,607Net Assets 2015: $15,777,5612015Assets 2016: $36,318,667Liabilities 2016: $17,640,160Net Assets 2016: $18,678,5072016Assets 2017: $35,127,262Liabilities 2017: $17,524,192Net Assets 2017: $17,603,0702017Assets 2018: $34,669,856Liabilities 2018: $16,974,129Net Assets 2018: $17,695,7272018Assets 2019: $37,979,810Liabilities 2019: $18,722,120Net Assets 2019: $19,257,6902019Assets 2020: $38,832,676Liabilities 2020: $19,055,740Net Assets 2020: $19,776,9362020Assets 2021: $39,651,651Liabilities 2021: $19,630,196Net Assets 2021: $20,021,4552021Assets 2022: $37,921,402Liabilities 2022: $19,645,895Net Assets 2022: $18,275,5072022Assets 2023: $37,000,346Liabilities 2023: $20,004,232Net Assets 2023: $16,996,1142023Assets 2024: $36,913,873Liabilities 2024: $21,058,049Net Assets 2024: $15,855,8242024

Highlighted filing

2016

Assets$36,318,667
Liabilities$17,640,160
Net Assets$18,678,507

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $18,468,5082010Expenses 2011: $21,575,1602011Expenses 2012: $25,012,8882012Expenses 2013: $20,722,2942013Revenue 2014: $23,743,478Expenses 2014: $26,660,233Net Income 2014: -$2,916,7552014Revenue 2015: $21,433,702Expenses 2015: $22,783,272Net Income 2015: -$1,349,5702015Revenue 2016: $19,390,781Expenses 2016: $17,112,277Net Income 2016: $2,278,5042016Revenue 2017: $14,970,949Expenses 2017: $14,536,743Net Income 2017: $434,2062017Revenue 2018: $15,311,156Expenses 2018: $14,485,367Net Income 2018: $825,7892018Revenue 2019: $16,282,255Expenses 2019: $17,688,163Net Income 2019: -$1,405,9082019Revenue 2020: $17,609,115Expenses 2020: $16,614,108Net Income 2020: $995,0072020Revenue 2021: $10,570,569Expenses 2021: $10,112,266Net Income 2021: $458,3032021Revenue 2022: $15,043,450Expenses 2022: $13,772,542Net Income 2022: $1,270,9082022Revenue 2023: $12,450,981Expenses 2023: $13,237,853Net Income 2023: -$786,8722023Revenue 2024: $13,684,610Expenses 2024: $14,875,757Net Income 2024: -$1,191,1472024

Highlighted filing

2016

Revenue$19,390,781
Expenses$17,112,277
Net Income$2,278,504
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 17, 2017
Return Version
2015v3.0
Gross Receipts
$19,390,781
Mission and Program Overview

Mission

To provide a liberal arts education of the highest quality that emphasizes academic excellence, ethical and spiritual values, social responsibility, and personal development to prepare men and women for positions of leadership and service in the African American community, the nation, and the world.

To provide a liberal arts education of the highest quality that emphasizes academic excellence, ethical and spiritual values, social responsibility, and personal development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,853,151$19,566,151▼ $2,287,000
Investments in Publicly Traded Securities$7,667,493$11,650,045▲ $3,982,552
Accounts Receivable$1,075,093$1,473,550▲ $398,457
Savings and Temporary Cash Investments$1,307,738$1,195,441▼ $112,297
Pledges and Grants Receivable$1,334,882$1,171,724▼ $163,158
Prepaid Expenses and Deferred Charges$204,030$611,763▲ $407,733
Cash and Non-Interest-Bearing Accounts$265,593$187,828▼ $77,765
Other Notes and Loans Receivable, Net-$117,234-
Total Assets$34,238,168$36,318,667▲ $2,080,499
Other Assets Total$530,188$344,931▼ $185,257
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,766,466$14,456,166▲ $689,700
Accounts Payable and Accrued Expenses$4,228,010$2,978,832▼ $1,249,178
Other Liabilities$332,131$137,162▼ $194,969
Tax Exempt Bond Liabilities$134,000$68,000▼ $66,000
Total Liabilities$18,460,607$17,640,160▼ $820,447
Net Assets / Fund Balance
Unrestricted Net Assets$6,145,557$12,021,751▲ $5,876,194
Permanently Rstr Net Assets$5,144,679$5,150,467▲ $5,788
Temporarily Rstr Net Assets$4,487,325$1,506,289▼ $2,981,036
Total Net Assets Fund Balance$15,777,561$18,678,507▲ $2,900,946
Total Liabilities and Net Assets / Fund Balance$34,238,168$36,318,667▲ $2,080,499

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,279,816$14,909,398$28,189,214
Equipment$4,808,090$5,398,097$10,206,187
Land$1,233,275-$1,233,275
Other Land Buildings$244,970$275,030$520,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$8,820,120$343,631▲ $167,465$453,759$5,150,467
2014$9,329,221$13,477▲ $22,597$442,952$8,820,120
2013$8,670,115$42,826▲ $1,170,818$440,380$9,329,221
2012$8,577,776$47,943▲ $613,570$430,057$8,670,115
2011$9,140,647$109,291▼ $163,012$433,549$8,577,776
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Samuel SullivanPresidentFT$162,500$162,500
Debra LatimoreVice President of Administrative and Fiscal AffairsFT$143,387$143,387
Dr Cheryle Evans-JonesVice President of Academic AffairsFT$130,000$130,000
Selina KohnAthlectic DirectorFT$88,833$88,833
Dr Elias EntingeVice President of Student AffairsFT$86,538$86,538
Luther FelderCampus PastorFT$74,169$74,169
Sunya YoungVice President of Institutional AdvancementFT$41,129$41,129

Highest Paid Contractors

ContractorServicesLocationCompensation
ABL EnterprisesFood ServicesP O Box 613128, Memphis, TN 38103-3128$1,102,501
Bdo USA LLPAuditing and AccountingP O Box 642743, Pittsburgh, PA 15264-2743$269,219
Gold Mech ServicesMaintenance and Installation ServicesP O Box 1655, Augusta, GA 30903$173,354
JenzabarInformation Technology101 Huntington Avenue Suite 2200, Boston, MA 02199$153,241
Revenue and Support

Revenue Composition

Contributions and Grants
$8,928,455
Program Service Revenue
$9,730,674
Investment Income
$476
Other Revenue
$731,176
All Other Contributions
$4,712,483
Change in Net Assets
$2,278,504

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,390,781
Total Revenue per Audited Statements
$19,390,781
Total Revenue per Form 990
$19,390,781
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,552,168
Grants and Similar Amounts Paid$1,833,553
Salaries, Compensation, and Employee Benefits$726,556
Total Fundraising Expense$178,303
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$641,533$2,134,527$178,303$2,954,363
Grants to Domestic Individuals$1,833,553--$1,833,553
All Other Expenses$1,074,302--$1,074,302
Current Officers, Directors, Trustees, and Key Employees-$726,556-$726,556
Total Functional Expenses$13,813,182$3,120,792$178,303$17,112,277

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$17,112,277
Total Expenses per Form 990$17,112,277
Total Expenses per Audited Statements$16,489,835
Expenses Not Reported on Form 990$-622,442
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds held on behalf of others$104,293
Federal income taxes$32,869
Advances from U.S. Government for student loans-
Capital lease obligation-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

After preparation of the Form 990, a draft is provided to the Vice President for Administrative and Fiscal Affairs for review and approval to be finalized. The final Form 990 is made available to the Audit Commitee of the Board of Trustees for review. Upon completion of the Audit Committees review, the Form 990 is made available to all Board members either by paper copy or electronically via secured access on the website.

Form 990, Part VI, Section B, Line 12C

Trustees are required to disclose at the next covening Board of Trustees meeting any conflict of interest. Board members with a conflict of interest on a matter for vote must abstain from voting. The Colleges audit committee is responsible for ensuring adherence to the policy.

Form 990, Part VI, Section B, Line 15

The salaries of the President and officers are determined by comparing compensation to peer institutions and receiving recommendations from a search committee.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Paine College
EIN
23-7434499
Phone
7068218200
Address
1235 Fifteenth Street, Augusta, GA 30901

Signing Officer

Name
Dr Samuel Sullivan
Title
President
Signed
2017-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Samuel Sullivan
Formed
1905
Legal Domicile
Ga
Voting Board Members
24
Independent Board Members
23
Employees
676
Volunteers
101

Preparer

Firm
The Wesley Peachtree Group CPAs
Address
1475 Klondike Road Suite 100, Conyers, GA 30094
Preparer
Dane Alexander
Phone
4048740555
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

This amount represents an endowment loss in excess of amounts appropriated for operations.

Financial Statement Notes

V 4

The Colleges endowment consists of individual funds established to provide scholarships to eligible students of the College. As required by U.S. GAAP, net assets associated with the endowment fund, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.

X 2

Accounting principles generally accepted in the United States of America requires the Colleges management to evaluate tax positions taken by the University and to recognize a tax liability or asset if the College has taken a uncertain tax position that will more-likely-than-not be sustained upon examination by taxing authorities. The College analyzed its tax positions for the year ended June 30, 2016 and determined that there were no uncertain tax positions that would have a material impact on the Colleges financial statements.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Barbara E Bouknight
IRS990/Form990PartVIISectionAGrp/PersonNm1Sharyn Doanes-Bergin
IRS990/Form990PartVIISectionAGrp/PersonNm2Reverend James Cason
IRS990/Form990PartVIISectionAGrp/PersonNm3Dr Carmichael Crutchfield
IRS990/Form990PartVIISectionAGrp/PersonNm4Lenalda R Corley
IRS990/Form990PartVIISectionAGrp/PersonNm5Terry Fleming
IRS990/Form990PartVIISectionAGrp/PersonNm6J R Henderson
IRS990/Form990PartVIISectionAGrp/PersonNm7Kenneth Carter
IRS990/Form990PartVIISectionAGrp/PersonNm8Dr Louise Rice
IRS990/Form990PartVIISectionAGrp/PersonNm9Charles G Larke
IRS990/Form990PartVIISectionAGrp/PersonNm10Eileen Littlejohn
IRS990/Form990PartVIISectionAGrp/PersonNm11Michael McCord
IRS990/Form990PartVIISectionAGrp/PersonNm12Reverend Jerry D Woodfork Sr
IRS990/Form990PartVIISectionAGrp/PersonNm13Attorney Robert L Bell
IRS990/Form990PartVIISectionAGrp/PersonNm14Bishop Marshall Gilmore
IRS990/Form990PartVIISectionAGrp/PersonNm15Ora McConner Jones
IRS990/Form990PartVIISectionAGrp/PersonNm16Annie Rogers
IRS990/Form990PartVIISectionAGrp/PersonNm17Fred Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm18Michael Thurmond
IRS990/Form990PartVIISectionAGrp/PersonNm19Tyrone Davis
IRS990/Form990PartVIISectionAGrp/PersonNm20Deonte Moses
IRS990/Form990PartVIISectionAGrp/PersonNm21C James King Jr
IRS990/Form990PartVIISectionAGrp/PersonNm22Philip Thomas
IRS990/Form990PartVIISectionAGrp/PersonNm23Dr Samuel Sullivan
IRS990/Form990PartVIISectionAGrp/PersonNm24Dr Cheryle Evans-Jones
IRS990/Form990PartVIISectionAGrp/PersonNm25Debra Latimore
IRS990/Form990PartVIISectionAGrp/PersonNm26Luther Felder
IRS990/Form990PartVIISectionAGrp/PersonNm27Sunya Young
IRS990/Form990PartVIISectionAGrp/PersonNm28Dr Elias Entinge
IRS990/Form990PartVIISectionAGrp/PersonNm29Selina Kohn
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IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Chair-Elect
IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt21Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt22Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt23President
IRS990/Form990PartVIISectionAGrp/TitleTxt24Vice President of Academic Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt25Vice President of Administrative and Fiscal Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt26Campus Pastor
IRS990/Form990PartVIISectionAGrp/TitleTxt27Vice President of Institutional Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt28Vice President of Student Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt29Athlectic Director
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.9$21.1$15.9$13.7$14.9$1.19
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.0$20.0$17.0$12.5$13.2$0.79
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.9$19.6$18.3$15.0$13.8$1.27
2021Detailed filing. Detailed filing data is available for this year.$39.7$19.6$20.0$10.6$10.1$0.46
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.8$19.1$19.8$17.6$16.6$1.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.0$18.7$19.3$16.3$17.7$1.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.7$17.0$17.7$15.3$14.5$0.83
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.1$17.5$17.6$15.0$14.5$0.43
2016Detailed filing. Detailed filing data is available for this year.$36.3$17.6$18.7$19.4$17.1$2.28
2015Detailed filing. Detailed filing data is available for this year.$34.2$18.5$15.8$21.4$22.8$1.35
2014Detailed filing. Detailed filing data is available for this year.$35.5$18.4$17.1$23.7$26.7$2.92
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.2$17.7$19.5$20.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.3$14.0$19.3$25.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.6$8.44$19.2$21.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.8$7.24$18.5$18.5
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $25M-$50M nonprofits