Civic Intelligence

Emory & Henry College

EIN 54-0505892 • 501(c)3 • Emory, VA

Profile

Emory & Henry College is a learning community in pursuit of excellence, engaging a diverse group of well-qualified men and women in educational experiences in which students confront historical and contemporary ideas and issues, and develop the ability to think critically about all areas of human experience. These educational experiences lead to lives of service, productive careers and global citizenship. E&H strives to provide the highest quality education, combining tradition and innovation as it transforms lives and creates positive social change in our region, our nation, and our world.

PO Box 947Emory, VA 24327
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

52nd percentile

0.31x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

1.02x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

15th percentile

-8.2%

Higher net margin than 15% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

16th percentile

$370,347

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

38th percentile

3.5%

Faster asset growth than 38% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

28th percentile

2.7%

Faster revenue growth than 28% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$264,981,194

Up $10,436,964 (+4.1%) from 2022

Liabilities

Up

$73,827,247

Up $4,579,396 (+6.6%) from 2022

Net Assets

Up

$191,153,947

Up $5,857,568 (+3.2%) from 2022

Revenue

Up

$80,321,511

Up $4,490,959 (+5.9%) from 2022

Expenses

Up

$84,952,920

Up $8,921,202 (+12%) from 2022

Net Income

Down

-$4,631,409

Down $4,430,243 (-2202%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $158,036,620Liabilities 2010: $27,325,124Net Assets 2010: $130,711,4962010Assets 2011: $171,434,517Liabilities 2011: $27,575,150Net Assets 2011: $143,859,3672011Assets 2012: $173,830,786Liabilities 2012: $31,502,985Net Assets 2012: $142,327,8012012Assets 2013: $186,521,243Liabilities 2013: $35,596,896Net Assets 2013: $150,924,3472013Assets 2014: $213,042,887Liabilities 2014: $38,943,241Net Assets 2014: $174,099,6462014Assets 2015: $215,574,515Liabilities 2015: $43,513,037Net Assets 2015: $172,061,4782015Assets 2016: $221,874,188Liabilities 2016: $55,993,006Net Assets 2016: $165,881,1822016Assets 2017: $250,635,744Liabilities 2017: $74,249,798Net Assets 2017: $176,385,9462017Assets 2018: $246,829,259Liabilities 2018: $71,888,503Net Assets 2018: $174,940,7562018Assets 2019: $244,958,297Liabilities 2019: $70,111,682Net Assets 2019: $174,846,6152019Assets 2020: $251,778,518Liabilities 2020: $75,017,947Net Assets 2020: $176,760,5712020Assets 2021: $275,319,124Liabilities 2021: $73,463,138Net Assets 2021: $201,855,9862021Assets 2022: $254,544,230Liabilities 2022: $69,247,851Net Assets 2022: $185,296,3792022Assets 2023: $264,981,194Liabilities 2023: $73,827,247Net Assets 2023: $191,153,9472023

Highlighted filing

2023

Assets$264,981,194
Liabilities$73,827,247
Net Assets$191,153,947

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MExpenses 2010: $36,933,9362010Expenses 2011: $37,535,7372011Revenue 2012: $46,177,530Expenses 2012: $40,483,728Net Income 2012: $5,693,8022012Expenses 2013: $41,919,7522013Revenue 2014: $57,615,342Expenses 2014: $44,590,460Net Income 2014: $13,024,8822014Revenue 2015: $50,516,187Expenses 2015: $49,939,457Net Income 2015: $576,7302015Revenue 2016: $54,850,162Expenses 2016: $53,812,737Net Income 2016: $1,037,4252016Revenue 2017: $60,088,560Expenses 2017: $56,894,177Net Income 2017: $3,194,3832017Revenue 2018: $63,172,067Expenses 2018: $63,131,348Net Income 2018: $40,7192018Revenue 2019: $65,567,039Expenses 2019: $64,673,126Net Income 2019: $893,9132019Revenue 2020: $65,202,730Expenses 2020: $67,174,910Net Income 2020: -$1,972,1802020Revenue 2021: $70,928,101Expenses 2021: $62,704,582Net Income 2021: $8,223,5192021Revenue 2022: $75,830,552Expenses 2022: $76,031,718Net Income 2022: -$201,1662022Revenue 2023: $80,321,511Expenses 2023: $84,952,920Net Income 2023: -$4,631,4092023

Highlighted filing

2023

Revenue$80,321,511
Expenses$84,952,920
Net Income-$4,631,409

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$265$73.8$191$80.3$85.0$4.63
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$255$69.2$185$75.8$76.0$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$275$73.5$202$70.9$62.7$8.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$252$75.0$177$65.2$67.2$1.97
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$245$70.1$175$65.6$64.7$0.89
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$247$71.9$175$63.2$63.1$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$251$74.2$176$60.1$56.9$3.19
2016Summary only. Only limited summary data is available for this year.$222$56.0$166$54.9$53.8$1.04
2015Detailed filing. Detailed filing data is available for this year.$216$43.5$172$50.5$49.9$0.58
2014Detailed filing. Detailed filing data is available for this year.$213$38.9$174$57.6$44.6$13.0
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$187$35.6$151$41.9
2012Summary only. Only limited summary data is available for this year.$174$31.5$142$46.2$40.5$5.69
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$171$27.6$144$37.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$158$27.3$131$36.9
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2018 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 15, 2019
Return Version
2017v2.0
Gross Receipts
$64,429,970
Mission and Program Overview

Mission

Emory & henry collee is a learning community in pursuit of excellence, engaging a diverse group of well-qualified men and women in educational experiences in which students confront historical and contemporary ideas and issues, and develop the ability to think critically about all areas of human experience. These educational experiences lead to lives of service, productive careers and global citizenship. E&h strives to provide the highest quality education combining tradition and innovation as it transforms lives and creates positive social change in our region, our nation, and our world.

With a mission statement founded upon "Increase in Excellence", the College is consistently ranked among the nation's best private liberal arts institutions. Emory & Henry College is among the top 40 institutions in the nation that transforms students' lives, as noted in one of the nation's best-selling college guide books. "Virginia has no shortage of familiar schools with robust reputations. But Emory & Henry does the finest job of them all of producing contributors to society" (Oswald, Colleges that Change Lives). Among other top rankings, the institution is recognized for its service to communities through service learning and engagement. It has consistently received top tier recognition in the Washington Monthly, U.S. News & World Report, Newsweek and many other publications. Most recently, it was named a top 25 rural college in the nation by College Raptor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$131,877,400$132,778,735▲ $901,335
Investments in Publicly Traded Securities$63,401,083$61,493,566▼ $1,907,517
Investments Other Securities$20,788,200$23,356,271▲ $2,568,071
Savings and Temporary Cash Investments$22,156,206$16,790,527▼ $5,365,679
Investments Program Related$3,771,115$3,689,342▼ $81,773
Pledges and Grants Receivable$3,056,852$2,930,038▼ $126,814
Other Notes and Loans Receivable, Net$1,014,606$1,021,660▲ $7,054
Prepaid Expenses and Deferred Charges$502,598$534,979▲ $32,381
Inventories for Sale or Use$462,705$515,435▲ $52,730
Accounts Receivable$413,416$500,457▲ $87,041
Cash and Non-Interest-Bearing Accounts$6,525$6,525→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$250,635,744$246,829,259▼ $3,806,485
Other Assets Total$3,185,038$3,211,724▲ $26,686
Liabilities
Mortgage Notes Payable Secured by Investment Property$66,838,750$66,129,714▼ $709,036
Accounts Payable and Accrued Expenses$4,547,249$2,919,799▼ $1,627,450
Other Liabilities$1,229,933$1,237,770▲ $7,837
Grants Payable$910,533$893,310▼ $17,223
Deferred Revenue$723,333$707,910▼ $15,423
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$74,249,798$71,888,503▼ $2,361,295
Net Assets / Fund Balance
Temporarily Rstr Net Assets$76,231,274$76,766,839▲ $535,565
Permanently Rstr Net Assets$53,382,879$54,559,896▲ $1,177,017
Unrestricted Net Assets$46,771,793$43,614,021▼ $3,157,772
Total Net Assets Fund Balance$176,385,946$174,940,756▼ $1,445,190
Total Liabilities and Net Assets / Fund Balance$250,635,744$246,829,259▼ $3,806,485

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$120,582,155$36,904,729$157,486,884
Equipment$9,303,665$14,568,943$23,872,608
Land$2,520,506-$2,520,506
Other Land Buildings$372,409$341,859$714,268
Leasehold Improvements$0$0$0
Other Securities$2,193,699--
Closely Held Equity Interests$0--
Financial Derivatives$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$88,786,994$1,156,384▲ $6,512,961$1,788,607$89,616,800
2016$81,810,813$4,173,126▲ $9,840,364$2,281,377$88,786,994
2015$91,843,469$2,164,180▼ $3,555,736$5,973,235$81,810,813
2014$96,614,350$589,077▲ $1,408,868$4,280,981$91,843,469
2013$86,822,987$1,801,796▲ $14,961,397$4,486,775$96,614,350
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jake B SchrumPresidentFT$297,779$73,850$371,629
Theodore AngelopoulosProfessorFT$172,188$32,192$204,380
Joseph TaylorVP for AdvancementFT$165,142$31,300$196,442
Ada L FincherDean of School of Health SciencesFT$164,327$26,118$190,445
Jean M IrionProfessorFT$131,060$29,835$160,895
Scott RichardsProfessorFT$131,416$29,046$160,462
Richard K GaumerVP for Business & FinanceFT$137,128$23,210$160,338

Board Members and Trustees

NameTitle
Gary M ReedyBoard Chair
B Fielding RolstonBoard Executive Committee Member
Barbara A BoigegrainBoard Executive Committee Member
Brooklyn D SawyersBoard Executive Committee Member
Dr A Susan KeeneBoard Executive Committee Member
Dr L Carole WhartonBoard Executive Committee Member
George A WhitleyBoard Executive Committee Member
Kyra Kegley BishopBoard Executive Committee Member
Peter G GerryBoard Executive Committee Member
Peter S WaltersBoard Executive Committee Member
Vaughn R GrovesBoard Executive Committee Member
Arthur Theron BroadyBoard Member
Bishop Mary Virginia TaylorBoard Member
Christopher A SanchezBoard Member
Donna Proffit VaughnBoard Member
Dr Cathy Crowe SchubertBoard Member
Dr E Stephen HuntBoard Member
Dr Glenn H Birkitt JrBoard Member
Erick H LongBoard Member
Henri Lee FitzgeraldBoard Member
James H FernBoard Member
Jennie Pruner SmithBoard Member
Jill L FachillaBoard Member
John P McClaveBoard Member
Kathryn Copenhaver DavidsonBoard Member
Linda P WhiteBoard Member
Lyle W KraftBoard Member
Lynda Jones HawkinsBoard Member
Paul N Hubble JrBoard Member
Rev Jonathan B JonasBoard Member
Rev Sandra J JohnsonBoard Member
S Thomas Terry JrBoard Member
Tim L FieldsBoard Member
Tyler G KiddBoard Member
William B PendletonBoard Member
William L NaehleBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Apogee TelecomConstruction Services245 Birch St, Blountville, TN 37617$9,510,500
Sodexo Inc AffiliatesFood ServicesPO Box 536922, Atlanta, GA 30353$2,934,616
Brian Wishneff and AssociatesTechnology Services715 West 23rd St, Austin, TX 78705$628,668
JA Street and AssociatesConstruction Services36571 Plum Creek Road, Glade Spring, VA 24340$446,436
-Consulting Services30 Franklin Rd SW 503, Roanoke, VA 24011$435,950
Revenue and Support

Revenue Composition

Contributions and Grants
$5,610,841
Program Service Revenue
$49,616,858
Investment Income
$7,944,368
Other Revenue
$0
All Other Contributions
$5,489,651
Change in Net Assets
$40,719

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded51$1,257,903Market Quotes
Other Non Cash Contri Table6$299,499Appraisals
Real Estate Residential2$48,000Appraisals
Other Non Cash Contri Table1$6,812Fair Market Value (FMV)
Total Noncash Contributions60$1,612,214-

Audited Revenue Reconciliation

Revenue per Audited Statements
$43,289,337
Revenue Not Reported on Financial Statements
$19,882,730
Revenue Not Reported on Form 990
$-1,485,909
Other Revenue Adjustments
$19,882,730
Total Revenue per Audited Statements
$41,803,428
Total Revenue per Form 990
$63,172,067
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$22,359,472
Other Expenses$20,565,991
Grants and Similar Amounts Paid$20,205,885
Total Fundraising Expense$732,997
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$20,205,885--$20,205,885
Other Salaries and Wages$14,176,118$2,747,388$484,454$17,407,960
Occupancy$3,536,641$3,047,406$257$6,584,304
Depreciation Depletion$3,812,591$500,212-$4,312,803
All Other Expenses$2,159,056$746,546$28,833$2,934,435
Other Employee Benefits$2,129,172$385,296$49,475$2,563,943
Interest$2,081,410$361,296-$2,442,706
Information Technology$342,865$975,093$1,800$1,319,758
Payroll Taxes$998,273$186,668$33,253$1,218,194
Office Expenses$963,429$79,919$40,584$1,083,932
Pension Plan Contributions$539,868$115,412$28,608$683,888
Travel$464,292$98,465$28,408$591,165
Current Officers, Directors, Trustees, and Key Employees$485,487$0$0$485,487
Fees for Services Other$171,166$125,946$7,355$304,467
Other Expenses$0$290,838$0$290,838
Advertising$44,891$205,624-$250,515
Insurance$168,931--$168,931
Conferences and Meetings$44,821$72,583$443$117,847
Fees for Services Accounting-$67,017-$67,017
Fees for Services Legal-$22,244-$22,244
Total Functional Expenses$52,343,874$10,054,477$732,997$63,131,348

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$63,131,348
Expenses per Audited Statements$43,248,618
Total Expenses per Audited Statements$43,248,618
Expenses Not Reported on Financial Statements$19,882,730
Other Expense Adjustments$19,882,730
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Trust & Annuity Obligations$862,410
Student & Other Deposits$205,489
Amounts Held for Others$169,871
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The form is distributed to the President, and the members of the Audit Subcommittee of the Board of Trustees Business Affairs/Audit Committee for review and comments prior to filing.

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

All Board members, the President, and the Executive Council are required to complete a Conflict of Interest Questionnaire on an annual basis. The Questionnaire is designed to disclose any conflict of interest so that the Board can address the conflict directly and immediately. If at any time during the fiscal year a questionable relationship is identified, the Executive Committee of the Board will address it immediately.

Form 990, Part VI, Section B, Line 15

The Board of Trustees Executive Committee has the responsibility of reviewing the salary and benefits of the President of the College on an annual basis. A confidential performance evaluation is completed, and then reported to the full Board. The Executive Committee develops appropriate recommendations, based on the evaluation, for consideration by the full Board. Comparable data is compiled from peer institutions, and other standard college and university organizations and publications for purposes of determining appropriate levels of salary and benefits. The Human Resources Manager compiles comparable information in regard to the other officers of the college and the President makes adjustments as appropriate, and as fiscally responsible budgets will allow.

Form 990, Part VI, Section C, Line 19

The College makes its governing documents, conflict of interest policy, and copies of the Form 990 available to the public upon request. In addition, the Form 990 is available for public inspection on a third-party website.

Filing and Contact Details

Filer

Filer Name
Emory & Henry College
EIN
54-0505892
Phone
2769446800
Address
PO BOX 947, EMORY, VA 24327

Signing Officer

Name
Benita Bare
Title
Assoc VP for Business & Finance
Phone
2769446800
Signed
2019-02-15

Organization Details

Principal Officer
Jake B Schrum
Formed
1839
Legal Domicile
Va
Voting Board Members
37
Independent Board Members
36
Employees
1,007
Volunteers
150
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 3B

The IRS only recently (December 2018) issued guidance for employers on the Fringe Benefits Tax, a provision of the Tax Cuts and Jobs Act (TCJA) that requires tax-exempt employers to characterize the cost of employee transportation fringe benefits as unrelated business taxable income (UBTI), effective January 1, 2018.

Form 990, Part XI, Line 9

Other -159,046

Financial Statement Notes

Schedule D, Part V, Line 4

The endowment includes over 400 funds, the majority of which supports students through institutional scholarships. A portion of the endowment provides support for academic programming through professorships, chairs, lectureships, faculty travel, research, and other program expenses. A limited portion of the endowment supports other miscellaneous programs and initiatives for the College.

Schedule D, Part XI, Line 2D

Change in Funds Held in Trust by Others $26,686; Other $(159,046)

Schedule D, Part XI, Line 4B

Institutional Financial Aid to Students $19,882,730

Schedule D, Part XII, Line 4B

Institutional Financial Aid to Students $19,882,730

Raw XML AppendixShowing 400 of 1,304 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0E&H College provided formal instruction and related academic support for 938 full-time equivalent students toward the fulfillment of Bachelor of Science and Bachelor of Art degrees in a variety of fields of study. The College's academic program is shaped by goals to develop the students' intellectual abilities, to strengthen their ability to think critically about ethical decisions and responsible actions, to evoke a commitment to serve others, and to nurture their curiosity through lifelong learning. Student financial aid was provided to most students through a variety of scholarships and grants, supporting the pursuit of degrees. Formal classroom instruction was provided by faculty members in small classroom settings. To enhance the academic experience for students, services were provided through the library, the Powell Resource Center (for academic counseling, career services, personal counseling, skill development, testing resources, tutoring, workshops, and academic accommodations for students with documented disabilities), the Ampersand Center, and the Office of the Academic Dean. Writing labs and quantitative labs were available to students on an ongoing basis.
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IRS990/Form990PartVIISectionAGrp/PersonNm2Kyra Kegley Bishop
IRS990/Form990PartVIISectionAGrp/PersonNm3James H Fern
IRS990/Form990PartVIISectionAGrp/PersonNm4Tim L Fields
IRS990/Form990PartVIISectionAGrp/PersonNm5Vaughn R Groves
IRS990/Form990PartVIISectionAGrp/PersonNm6Lynda Jones Hawkins
IRS990/Form990PartVIISectionAGrp/PersonNm7Paul N Hubble Jr
IRS990/Form990PartVIISectionAGrp/PersonNm8Rev Jonathan B Jonas
IRS990/Form990PartVIISectionAGrp/PersonNm9John P McClave
IRS990/Form990PartVIISectionAGrp/PersonNm10William L Naehle
IRS990/Form990PartVIISectionAGrp/PersonNm11Gary M Reedy
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IRS990/Form990PartVIISectionAGrp/PersonNm13Dr Cathy Crowe Schubert
IRS990/Form990PartVIISectionAGrp/PersonNm14Jennie Pruner Smith
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IRS990/Form990PartVIISectionAGrp/PersonNm16Rev Sandra J Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm17Bishop Mary Virginia Taylor
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