Civic Intelligence

Paine College

990 • Fiscal year 2017 • EIN 23-7434499

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

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

70th percentile

0.50x

Higher debt load relative to assets than 70% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

79th percentile

1.17x

Higher debt load relative to revenue than 79% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

49th percentile

2.9%

Higher net margin than 49% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

22nd percentile

$150,000

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

17th percentile

-3.3%

Faster asset growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

9th percentile

-23%

Faster revenue growth than 9% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Down

$35,127,262

Down $1,191,405 (-3.3%) from 2016

Net Assets

Down

$17,603,070

Down $1,075,437 (-5.8%) from 2016

Liabilities

Down

$17,524,192

Down $115,968 (-0.7%) from 2016

Revenue

Down

$14,970,949

Down $4,419,832 (-23%) from 2016

Expenses

Down

$14,536,743

Down $2,575,534 (-15%) from 2016

Net Income

Down

$434,206

Down $1,844,298 (-81%) from 2016

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

2017

Assets$35,127,262
Liabilities$17,524,192
Net Assets$17,603,070

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

2017

Revenue$14,970,949
Expenses$14,536,743
Net Income$434,206
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.0
Gross Receipts
$14,970,949
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$19,566,151$19,226,994▼ $339,157
Investments in Publicly Traded Securities$11,650,045$10,016,195▼ $1,633,850
Cash and Non-Interest-Bearing Accounts$187,828$1,707,707▲ $1,519,879
Savings and Temporary Cash Investments$1,195,441$1,241,466▲ $46,025
Pledges and Grants Receivable$1,171,724$1,169,429▼ $2,295
Accounts Receivable$1,473,550$1,087,528▼ $386,022
Prepaid Expenses and Deferred Charges$611,763$174,212▼ $437,551
Other Notes and Loans Receivable, Net$117,234$116,614▼ $620
Total Assets$36,318,667$35,127,262▼ $1,191,405
Other Assets Total$344,931$387,117▲ $42,186
Liabilities
Mortgage Notes Payable Secured by Investment Property$14,456,166$14,637,883▲ $181,717
Accounts Payable and Accrued Expenses$2,978,832$2,749,081▼ $229,751
Other Liabilities$137,162$137,228▲ $66
Tax Exempt Bond Liabilities$68,000--
Total Liabilities$17,640,160$17,524,192▼ $115,968
Net Assets / Fund Balance
Unrestricted Net Assets$12,021,751$10,946,314▼ $1,075,437
Permanently Rstr Net Assets$5,150,467$5,150,467→ $0
Temporarily Rstr Net Assets$1,506,289$1,506,289→ $0
Total Net Assets Fund Balance$18,678,507$17,603,070▼ $1,075,437
Total Liabilities and Net Assets / Fund Balance$36,318,667$35,127,262▼ $1,191,405

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,612,995$15,968,410$29,581,405
Equipment$4,141,426$4,858,005$8,999,431
Land$1,233,275-$1,233,275
Other Land Buildings$239,298$280,702$520,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$5,150,467-▲ $2,548-$5,150,467
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Samuel SullivanPresidentFT$150,000$150,000
Ms Mary MoraleChief Financial OfficerFT$110,000$110,000
Dr Cheryle Evans-JonesProvost/Vice President of Academic AffairsFT$102,000$102,000
Dr Dwayne CrewAssistant to the PresidentFT$97,000$97,000
Coach Selina KohnAthlectic DirectorFT$77,900$77,900
Ms Helene CarterAssistant Vice President of Institutional AdvancementFT$76,000$76,000
Mr Chester WheelerDirector Sponsored Programs and Title IIIFT$66,500$66,500
Mr Robert WoodsonDean Student Affairs and Enrollment ManagementFT$63,000$63,000
Reverend Luther FelderChaplainFT$61,750$61,750

Highest Paid Contractors

ContractorServicesLocationCompensation
Thompson HospitalityFood Services1741 Business Ctr Drive Suite 200, Reston, VA 20190$260,000
JenzabarInformation Technology101 Huntington Avenue Suite 2200, Boston, MA 02199$152,637
Revenue and Support

Revenue Composition

Contributions and Grants
$5,916,809
Program Service Revenue
$7,380,654
Investment Income
$2,548
Other Revenue
$1,670,938
All Other Contributions
$2,670,865
Change in Net Assets
$434,206

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,970,949
Total Revenue per Audited Statements
$14,970,949
Total Revenue per Form 990
$14,970,949
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,292,147
Grants and Similar Amounts Paid$1,440,446
Salaries, Compensation, and Employee Benefits$804,150
Total Fundraising Expense$92,980
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$548,102$2,802,414$92,980$3,443,496
Grants to Domestic Individuals$1,440,446--$1,440,446
All Other Expenses$1,111,904--$1,111,904
Current Officers, Directors, Trustees, and Key Employees-$804,150-$804,150
Total Functional Expenses$10,660,776$3,782,987$92,980$14,536,743

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$16,046,386
Expenses per Audited Statements$14,536,743
Total Expenses per Form 990$14,536,743
Expenses Not Reported on Form 990$1,509,643
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$103,657
Federal income taxes$33,571
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 Committee of the Board of Trustees for review. Upon completion of the Audit Commitees review, the Form 990 is made available to all Trustees 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 convening Board of Trustees meeting any conflict of interest. Trustees with a conflict of interest on a matter for vote must abstain from voting. The Colleges audit committee is responsible for 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
Kevin Howard
Title
Chief Financial Officer
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Howard
Formed
1905
Legal Domicile
Ga
Voting Board Members
25
Independent Board Members
24
Employees
543
Volunteers
54

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, -1,250,555 and a loss on the sale of investment real estate, -259,088.

Financial Statement Notes

V 4

The Colleges endowment consists of individual funds established to provide scholarships to eligible students of the College.

X 2

Accounting principles generally accepted in the United States of America requires the Colleges management to evaluate tax positions taken by the College and to recognize a tax liability or asset if the College has taken an uncertain tax position that will more-likely-than-not be sustained upon examination by taxing authorities. The College analyzed its tax position for the year ended June 30, 2017 and determined that there was no uncertain tax position that would have a material impact on the Colleges financial statements.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt320
IRS990/Form990PartVIISectionAGrp/PersonNm0Attorney Barbara E Bouknight
IRS990/Form990PartVIISectionAGrp/PersonNm1Attorney Sharyn Doanes-Bergin
IRS990/Form990PartVIISectionAGrp/PersonNm2Reverend James Cason
IRS990/Form990PartVIISectionAGrp/PersonNm3Dr Carmichael Crutchfield
IRS990/Form990PartVIISectionAGrp/PersonNm4Dr Lenalda R Corley
IRS990/Form990PartVIISectionAGrp/PersonNm5Rev Terry Fleming
IRS990/Form990PartVIISectionAGrp/PersonNm6Mr J R Henderson
IRS990/Form990PartVIISectionAGrp/PersonNm7Bishop Kenneth W Carter
IRS990/Form990PartVIISectionAGrp/PersonNm8Dr Louise Rice
IRS990/Form990PartVIISectionAGrp/PersonNm9Dr Charles G Larke
IRS990/Form990PartVIISectionAGrp/PersonNm10Ms Eileen Littlejohn
IRS990/Form990PartVIISectionAGrp/PersonNm11Reverend Michael McCord
IRS990/Form990PartVIISectionAGrp/PersonNm12Reverend Jerry D Woodfork Sr
IRS990/Form990PartVIISectionAGrp/PersonNm13Attorney Robert L Bell
IRS990/Form990PartVIISectionAGrp/PersonNm14Bishop Marshall Gilmore
IRS990/Form990PartVIISectionAGrp/PersonNm15Dr Ora McConner Jones
IRS990/Form990PartVIISectionAGrp/PersonNm16Ms Annie Rogers
IRS990/Form990PartVIISectionAGrp/PersonNm17Mr Fred Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm18Attorney Michael L Thurmond
IRS990/Form990PartVIISectionAGrp/PersonNm19Reverend Dr Tyrone Davis
IRS990/Form990PartVIISectionAGrp/PersonNm20Bishop Benjamin Michael Watson
IRS990/Form990PartVIISectionAGrp/PersonNm21Bishop C James King Jr
IRS990/Form990PartVIISectionAGrp/PersonNm22Mr Mark C Callaway
IRS990/Form990PartVIISectionAGrp/PersonNm23Dr Samuel Sullivan
IRS990/Form990PartVIISectionAGrp/PersonNm24Ms Jessye Norman
IRS990/Form990PartVIISectionAGrp/PersonNm25Dr Cheryle Evans-Jones
IRS990/Form990PartVIISectionAGrp/PersonNm26Dr Dwayne Crew
IRS990/Form990PartVIISectionAGrp/PersonNm27Reverend Luther Felder
IRS990/Form990PartVIISectionAGrp/PersonNm28Ms Helene Carter
IRS990/Form990PartVIISectionAGrp/PersonNm29Mr Robert Woodson
IRS990/Form990PartVIISectionAGrp/PersonNm30Coach Selina Kohn
IRS990/Form990PartVIISectionAGrp/PersonNm31Ms Mary Morale
IRS990/Form990PartVIISectionAGrp/PersonNm32Mr Chester Wheeler
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
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/TitleTxt24Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt25Provost/Vice President of Academic Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt26Assistant to the President
IRS990/Form990PartVIISectionAGrp/TitleTxt27Chaplain
IRS990/Form990PartVIISectionAGrp/TitleTxt28Assistant Vice President of Institutional Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt29Dean Student Affairs and Enrollment Management
IRS990/Form990PartVIISectionAGrp/TitleTxt30Athlectic Director
IRS990/Form990PartVIISectionAGrp/TitleTxt31Chief Financial Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt32Director Sponsored Programs and Title III
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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
2017Detailed filing. Detailed filing data is available for this year.$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