Liabilities / Assets
41st percentile
Higher debt load relative to assets than 41% of similar nonprofits.
Spring Arbor University
EIN 38-1359569 • 501(c)3 • Spring Arbor, MI
Profile
Spring arbor university is a community of learners distinguished by our lifelong involvement in the study and application of the liberal arts, total commitment to jesus christ as the perspective for learning and critical participation in the contemporary world.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.19x
Liabilities / Revenue
44th percentile
Higher debt load relative to revenue than 44% of similar nonprofits.
Net Margin
78th percentile
Higher net margin than 78% of similar nonprofits.
Top Officer Pay
33rd percentile
Higher top officer pay than 33% of similar nonprofits.
Top officer pay equals 0.5% of source-year revenue.
Asset Growth
58th percentile
Faster asset growth than 58% of similar nonprofits.
Revenue Growth
73rd percentile
Faster revenue growth than 73% of similar nonprofits.
Balance Sheet
Assets
Up$124,142,690
Up $7,463,046 (+6.4%) from 2023
Liabilities
Down$25,077,584
Down $1,545,994 (-5.8%) from 2023
Net Assets
Up$99,065,106
Up $9,009,040 (+10%) from 2023
Revenue
Up$62,400,836
Up $4,609,771 (+8.0%) from 2023
Expenses
Down$57,994,359
Down $1,391,334 (-2.3%) from 2023
Net Income
Up$4,406,477
Up $6,001,105 (+376%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $124,142,690
- Liabilities
- $25,077,584
- Net assets
- $99,065,106
- Revenue
- $62,400,836
- Expenses
- $57,994,359
- Net income
- $4,406,477
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jun 1, 2023 to May 31, 2024
- Signed
- Apr 15, 2025
- Return Version
- 2023v6.0
- Gross Receipts
- $64,010,285
Mission and Program Overview
Mission
Spring arbor university is a community of learners distinguished by our lifelong involvement in the study and application of the liberal arts, total commitment to jesus christ as the perspective for learning and critical participation in the contemporary world.
Spring arbor university provides post-secondary education to over 2,390 students, granting ba, bs, ma and ms degrees.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $56,549,825 | $54,433,445 | ▼ $2,116,380 |
| Investments in Publicly Traded Securities | $22,164,919 | $29,930,244 | ▲ $7,765,325 |
| Savings and Temporary Cash Investments | $24,282,491 | $25,601,476 | ▲ $1,318,985 |
| Pledges and Grants Receivable | $5,623,573 | $7,455,031 | ▲ $1,831,458 |
| Accounts Receivable | $3,814,096 | $3,333,262 | ▼ $480,834 |
| Prepaid Expenses and Deferred Charges | $1,019,885 | $1,152,502 | ▲ $132,617 |
| Investments Other Securities | $205,385 | $204,808 | ▼ $577 |
| Other Notes and Loans Receivable, Net | $273,249 | $168,570 | ▼ $104,679 |
| Inventories for Sale or Use | $21,953 | $18,196 | ▼ $3,757 |
| Cash and Non-Interest-Bearing Accounts | $6,300 | $2,500 | ▼ $3,800 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Program Related | $0 | - | - |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $116,679,644 | $124,142,690 | ▲ $7,463,046 |
| Other Assets Total | $2,717,968 | $1,842,656 | ▼ $875,312 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $18,468,798 | $17,644,513 | ▼ $824,285 |
| Other Liabilities | $3,830,531 | $2,776,398 | ▼ $1,054,133 |
| Deferred Revenue | $2,404,885 | $2,427,281 | ▲ $22,396 |
| Accounts Payable and Accrued Expenses | $1,919,364 | $2,229,392 | ▲ $310,028 |
| Total Liabilities | $26,623,578 | $25,077,584 | ▼ $1,545,994 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $60,420,678 | $61,767,688 | ▲ $1,347,010 |
| Net Assets With Donor Restrictions | $29,635,388 | $37,297,418 | ▲ $7,662,030 |
| Total Net Assets Fund Balance | $90,056,066 | $99,065,106 | ▲ $9,009,040 |
| Total Liabilities and Net Assets / Fund Balance | $116,679,644 | $124,142,690 | ▲ $7,463,046 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $33,508,296 | $27,861,299 | $61,369,595 |
| Equipment | $11,406,706 | $14,682,601 | $26,089,307 |
| Leasehold |