Civic Intelligence

Paine College

990 • Fiscal year 2020 • EIN 23-7434499

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 30, 2021

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

69th percentile

0.49x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

77th percentile

1.08x

Higher debt load relative to revenue than 77% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

55th percentile

5.7%

Higher net margin than 55% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

17th percentile

$126,333

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

34th percentile

2.2%

Faster asset growth than 34% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

63rd percentile

8.1%

Faster revenue growth than 63% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Up

$38,832,676

Up $852,866 (+2.2%) from 2019

Net Assets

Up

$19,776,936

Up $519,246 (+2.7%) from 2019

Liabilities

Up

$19,055,740

Up $333,620 (+1.8%) from 2019

Revenue

Up

$17,609,115

Up $1,326,860 (+8.1%) from 2019

Expenses

Down

$16,614,108

Down $1,074,055 (-6.1%) from 2019

Net Income

Up

$995,007

Up $2,400,915 (+171%) from 2019

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

2020

Assets$38,832,676
Liabilities$19,055,740
Net Assets$19,776,936

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

2020

Revenue$17,609,115
Expenses$16,614,108
Net Income$995,007
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 30, 2021
Return Version
2019v5.1
Gross Receipts
$17,609,115
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$21,085,813$21,282,458▲ $196,645
Investments in Publicly Traded Securities$11,548,955$8,427,362▼ $3,121,593
Savings and Temporary Cash Investments$157,711$3,414,052▲ $3,256,341
Cash and Non-Interest-Bearing Accounts$1,697,505$2,835,270▲ $1,137,765
Pledges and Grants Receivable$931,233$1,820,581▲ $889,348
Accounts Receivable$686,507$473,184▼ $213,323
Prepaid Expenses and Deferred Charges$158,239$158,239→ $0
Total Assets$37,979,810$38,832,676▲ $852,866
Other Assets Total$1,713,847$421,530▼ $1,292,317
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,740,554$13,488,304▼ $252,250
Accounts Payable and Accrued Expenses$3,098,522$3,928,258▲ $829,736
Other Liabilities$1,883,044$1,639,178▼ $243,866
Total Liabilities$18,722,120$19,055,740▲ $333,620
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,600,934$13,120,180▲ $519,246
Net Assets With Donor Restrictions$6,656,756$6,656,756→ $0
Total Net Assets Fund Balance$19,257,690$19,776,936▲ $519,246
Total Liabilities and Net Assets / Fund Balance$37,979,810$38,832,676▲ $852,866

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,681,483$16,795,117$31,476,600
Equipment$5,125,159$5,863,008$10,988,167
Land$1,233,275-$1,233,275
Other Land Buildings$242,541$277,459$520,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$5,150,467-▲ $242,269-$5,150,467
2018$5,150,467-▲ $205,005-$5,150,467
2017$5,150,467-▲ $139,905-$5,150,467
2016$5,150,467-▲ $2,548-$5,150,467
2015$8,820,120$343,631▲ $167,465$453,759$5,150,467
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Cheryle Evans-JonesPresidentFT$126,333$126,333
Dr Curtis MartinProvost/Vice President of Academic AffairsFT$96,638$96,638
Ms Helene CarterVice President of Institutional AdvancementFT$81,000$81,000
Mr Norman JonesVice President of Administrative and Fiscal Affairs/CFOFT$78,692$78,692

Highest Paid Contractors

ContractorServicesLocationCompensation
Aladdin Food ManagementFood Services16567 Collections Center Drive, Chicago, IL 60693$430,808
Gold Mech Services IncHVAC Contractor1559 Broad Street, Augusta, GA 30904$232,166
Revenue and Support

Revenue Composition

Contributions and Grants
$8,612,972
Program Service Revenue
$7,962,118
Investment Income
$242,269
Other Revenue
$791,756
All Other Contributions
$3,653,667
Change in Net Assets
$995,007

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,609,115
Total Revenue per Audited Statements
$17,609,115
Total Revenue per Form 990
$17,609,115
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,926,886
Grants and Similar Amounts Paid$1,304,559
Salaries, Compensation, and Employee Benefits$382,663
Total Fundraising Expense$81,892
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$424,067$5,289,170$81,892$5,795,129
Grants to Domestic Individuals$1,304,559--$1,304,559
All Other Expenses$1,240,405--$1,240,405
Current Officers, Directors, Trustees, and Key Employees-$382,663-$382,663
Total Functional Expenses$10,677,374$5,854,842$81,892$16,614,108

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$17,089,869
Expenses per Audited Statements$16,614,108
Total Expenses per Form 990$16,614,108
Expenses Not Reported on Form 990$475,761
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
Federal income taxes$1,639,178
Amount due to U.S. Government-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 Committees 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
Norman E Jones
Title
CFO
Signed
2021-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Norman E Jones
Formed
1905
Legal Domicile
Ga
Voting Board Members
24
Independent Board Members
23
Employees
420
Volunteers
42

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 of 475,761.

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, 2020 and determined that there are no uncertain tax positions that would have a material impact of the Colleges financial statements.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt280
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt290
IRS990/Form990PartVIISectionAGrp/PersonNm0Dr Cheryle Evans-Jones
IRS990/Form990PartVIISectionAGrp/PersonNm1Dr Curtis Martin
IRS990/Form990PartVIISectionAGrp/PersonNm2Ms Helene Carter
IRS990/Form990PartVIISectionAGrp/PersonNm3Mr Norman Jones
IRS990/Form990PartVIISectionAGrp/PersonNm4Ms Barbara E Bouknight
IRS990/Form990PartVIISectionAGrp/PersonNm5Ms Sharyn Doanes-Bergin
IRS990/Form990PartVIISectionAGrp/PersonNm6Reverend James Cason
IRS990/Form990PartVIISectionAGrp/PersonNm7Dr Carmichael Crutchfield
IRS990/Form990PartVIISectionAGrp/PersonNm8Dr Lenalda R Corley
IRS990/Form990PartVIISectionAGrp/PersonNm9Mr J R Henderson
IRS990/Form990PartVIISectionAGrp/PersonNm10Dr Barbara B Hall
IRS990/Form990PartVIISectionAGrp/PersonNm11Dr Charles G Larke
IRS990/Form990PartVIISectionAGrp/PersonNm12Reverend Michael McCord
IRS990/Form990PartVIISectionAGrp/PersonNm13Reverend Jerry D Woodfork Sr
IRS990/Form990PartVIISectionAGrp/PersonNm14Mr Robert L Bell
IRS990/Form990PartVIISectionAGrp/PersonNm15Bishop Marshall Gilmore
IRS990/Form990PartVIISectionAGrp/PersonNm16Dr Ora McConner Jones
IRS990/Form990PartVIISectionAGrp/PersonNm17Mr Fred Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm18Mr Michael L Thurmond
IRS990/Form990PartVIISectionAGrp/PersonNm19Reverend Dr Tyrone Davis
IRS990/Form990PartVIISectionAGrp/PersonNm20Bishop Sue Haupert-Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm21Bishop C James King Jr
IRS990/Form990PartVIISectionAGrp/PersonNm22Bishop R Lawson Bryan
IRS990/Form990PartVIISectionAGrp/PersonNm23Rev John Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm24Bishop Thomas L Brown Sr
IRS990/Form990PartVIISectionAGrp/PersonNm25Mr Rodney E Harrigan
IRS990/Form990PartVIISectionAGrp/PersonNm26Dr Lester G Jackson
IRS990/Form990PartVIISectionAGrp/PersonNm27Dr Rodell Lawrence
IRS990/Form990PartVIISectionAGrp/PersonNm28Mr Johnny C Nimes
IRS990/Form990PartVIISectionAGrp/PersonNm29Rev Willie Wiley
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt280
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt290
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Provost/Vice President of Academic Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President of Institutional Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice President of Administrative and Fiscal Affairs/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chair
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/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt21Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt22Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt23Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt24Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt25Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt26Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt27Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt28Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt29Trustee
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IRS990/GamingActivitiesInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0To 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.
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IRS990/OccupancyGrp/TotalAmt00

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
2020Detailed filing. Detailed filing data is available for this year.$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

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