Civic Intelligence

Hampton University

990 • Fiscal year 2020 • EIN 54-0505990

Jul 01, 2019 to Jun 30, 2020 • Filed on May 14, 2021

200 William R Harvey WayHampton, VA 23668

(757) 727-5213

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.26x

Higher debt load relative to assets than 42% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.99x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Net Margin

68th percentile

9.5%

Higher net margin than 68% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Top Officer Pay

55th percentile

$964,740

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Asset Growth

22nd percentile

-0.8%

Faster asset growth than 22% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Revenue Growth

51st percentile

2.0%

Faster revenue growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Assets

Down

$779,168,098

Down $6,212,692 (-0.8%) from 2019

Net Assets

Up

$574,335,137

Up $3,515,532 (+0.6%) from 2019

Liabilities

Down

$204,832,961

Down $9,728,224 (-4.5%) from 2019

Revenue

Up

$206,010,995

Up $3,974,204 (+2.0%) from 2019

Expenses

Down

$186,364,893

Down $3,127,649 (-1.7%) from 2019

Net Income

Up

$19,646,102

Up $7,101,853 (+57%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.0B$500M$0Assets 2010: $647,560,316Liabilities 2010: $270,491,681Net Assets 2010: $377,068,6352010Assets 2011: $694,161,356Liabilities 2011: $278,930,710Net Assets 2011: $415,230,6462011Assets 2012: $704,745,249Liabilities 2012: $280,028,096Net Assets 2012: $424,717,1532012Assets 2013: $717,076,637Liabilities 2013: $272,353,419Net Assets 2013: $444,723,2182013Assets 2014: $745,312,279Liabilities 2014: $260,123,531Net Assets 2014: $485,188,7482014Assets 2015: $733,361,256Liabilities 2015: $247,711,371Net Assets 2015: $485,649,8852015Assets 2016: $718,822,876Liabilities 2016: $235,671,008Net Assets 2016: $483,151,8682016Assets 2017: $751,632,348Liabilities 2017: $230,574,010Net Assets 2017: $521,058,3382017Assets 2018: $778,746,273Liabilities 2018: $222,759,651Net Assets 2018: $555,986,6222018Assets 2019: $785,380,790Liabilities 2019: $214,561,185Net Assets 2019: $570,819,6052019Assets 2020: $779,168,098Liabilities 2020: $204,832,961Net Assets 2020: $574,335,1372020Assets 2021: $893,877,520Liabilities 2021: $164,707,869Net Assets 2021: $729,169,6512021Assets 2022: $891,896,119Liabilities 2022: $158,213,151Net Assets 2022: $733,682,9682022Assets 2023: $883,846,859Liabilities 2023: $154,516,355Net Assets 2023: $729,330,5042023Assets 2024: $864,544,695Liabilities 2024: $185,568,677Net Assets 2024: $678,976,0182024

Highlighted filing

2020

Assets$779,168,098
Liabilities$204,832,961
Net Assets$574,335,137

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $141,813,0402010Expenses 2011: $140,141,7602011Expenses 2012: $161,245,0512012Expenses 2013: $163,704,8482013Revenue 2014: $169,223,018Expenses 2014: $150,995,736Net Income 2014: $18,227,2822014Revenue 2015: $168,437,750Expenses 2015: $159,558,220Net Income 2015: $8,879,5302015Revenue 2016: $170,985,690Expenses 2016: $161,141,132Net Income 2016: $9,844,5582016Revenue 2017: $202,278,343Expenses 2017: $184,065,720Net Income 2017: $18,212,6232017Revenue 2018: $213,021,748Expenses 2018: $183,112,357Net Income 2018: $29,909,3912018Revenue 2019: $202,036,791Expenses 2019: $189,492,542Net Income 2019: $12,544,2492019Revenue 2020: $206,010,995Expenses 2020: $186,364,893Net Income 2020: $19,646,1022020Revenue 2021: $270,327,094Expenses 2021: $171,585,436Net Income 2021: $98,741,6582021Revenue 2022: $241,045,941Expenses 2022: $194,863,684Net Income 2022: $46,182,2572022Revenue 2023: $197,393,064Expenses 2023: $212,786,790Net Income 2023: -$15,393,7262023Revenue 2024: $204,439,563Expenses 2024: $240,073,296Net Income 2024: -$35,633,7332024

Highlighted filing

2020

Revenue$206,010,995
Expenses$186,364,893
Net Income$19,646,102
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.2
Gross Receipts
$289,670,144
Mission and Program Overview

Mission

Hampton university is a comprehensive institution of higher education, dedicated to the promotion of learning, building of character and preparation of promising students for positions of leadership and service. Its curriculum emphasis is scientific and professional with a strong liberal arts undergirding. In carrying out its mission, the university requires that everything that it does be of the highest quality. Research and public service are integral parts of hampton's mission. In order to enhance scholarship and discovery, faculty are engaged in writing, research, and grantsmanship. Faculty, staff and students provide leadership and service to the university as well as the global community. In achieving its mission, hampton university offers exemplary programs and opportunities which enable students, faculty and staff to grow, develop and contribute to our society in a productive, useful manner.

Hampton university is a comprehensive institution of higher education, dedicated to the promotion of learning, building of character, and the preparation of promising students for positions of leadership and service. Its curricular emphasis is scientific and professional with strong liberal arts undergirding. In carrying out its mission, the university requires that everything that it does be of the highest quality. A historically black institution, hampton university is committed to multiculturalism. The university serves students from diverse national, cultural, and economic backgrounds.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$418,008,561$414,252,822▼ $3,755,739
Investments Other Securities$164,871,560$164,601,614▼ $269,946
Investments in Publicly Traded Securities$137,965,513$137,371,898▼ $593,615
Pledges and Grants Receivable$15,537,702$14,114,512▼ $1,423,190
Accounts Receivable$9,252,165$11,764,722▲ $2,512,557
Cash and Non-Interest-Bearing Accounts$15,899,669$11,120,322▼ $4,779,347
Prepaid Expenses and Deferred Charges$7,182,671$9,789,522▲ $2,606,851
Other Notes and Loans Receivable, Net$9,882,321$8,835,710▼ $1,046,611
Savings and Temporary Cash Investments$6,780,628$7,316,976▲ $536,348
Total Assets$785,380,790$779,168,098▼ $6,212,692
Liabilities
Tax Exempt Bond Liabilities$161,676,634$154,356,415▼ $7,320,219
Deferred Revenue$22,125,103$27,270,965▲ $5,145,862
Accounts Payable and Accrued Expenses$16,810,309$10,841,461▼ $5,968,848
Mortgage Notes Payable Secured by Investment Property$6,817,060$6,400,274▼ $416,786
Other Liabilities$7,132,079$5,963,846▼ $1,168,233
Total Liabilities$214,561,185$204,832,961▼ $9,728,224
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$494,498,823$495,913,196▲ $1,414,373
Net Assets With Donor Restrictions$76,320,782$78,421,941▲ $2,101,159
Total Net Assets Fund Balance$570,819,605$574,335,137▲ $3,515,532
Total Liabilities and Net Assets / Fund Balance$785,380,790$779,168,098▼ $6,212,692

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$278,210,233$220,257,504$498,467,737
Equipment$113,852,751$99,251,630$213,104,381
Other Land Buildings$16,667,531-$16,667,531
Land$5,522,307-$5,522,307
Other Securities$4,660,816--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$291,251,075$3,752,711▲ $3,760,751$8,977,676$289,786,861
2018$295,394,705$1,435,057▲ $13,198,128$18,776,815$291,251,075
2017$285,946,443$1,522,612▲ $17,175,650$9,250,000$295,394,705
2016$259,112,049$2,233,478▲ $32,111,203$7,510,287$285,946,442
2015$310,130,259$1,288,208▼ $7,259,134$45,047,284$259,112,049
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr William R HarveyPresidentFT$571,054$393,686$964,740
Dr Patrick MccormickResearch ProfessorFT$297,441$68,739$366,180
Dr James RusselResearch ProfessorFT$289,743$66,960$356,703
Mr Roberty PruntyHead Football CoachFT$250,000$57,775$307,775
Dr Joanna HaysbertProvost and ChancellorFT$201,669$46,606$248,275
Attorney Paul HarrisSenior Vice PresidentFT$181,676$41,985$223,661
Mrs Doretha J SpellsVice President for Business AffairsFT$167,370$38,679$206,049
Attorney Faye Hardy-lucasVice President and General CounselFT$140,465$32,461$172,926
Dr David W HunterBoard MemberFT$89,432$20,667$110,099

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Gourmet Services INCFood Service82 PIEDMONT AVE NE, Atlanta, GA 30303$7,289,316
Adrian Builders Group LLCRenovations / Repairs3488 CHANDLER CREEK RD, Virginia Beach, VA 23453$3,948,268
Damuth Trane CompanyHvac Parts And Supplies / RepairsPO BOX 6276, Chesapeake, VA 23323$2,892,287
Towne Insurance AgencyInsurance301 BENDIX ROAD SUITE 300, Virginia Beach, VA 23452$2,785,725
Dominion Energy VirginiaSupplies ElectricityPO BOX 26543, Richmond, VA 23290$2,105,870
Revenue and Support

Revenue Composition

Contributions and Grants
$55,357,206
Program Service Revenue
$129,788,633
Investment Income
$21,599,109
Other Revenue
$-733,953
All Other Contributions
$21,825,715
Change in Net Assets
$19,646,102

Audited Revenue Reconciliation

Revenue per Audited Statements
$206,010,995
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-16,130,570
Total Revenue per Audited Statements
$189,880,425
Total Revenue per Form 990
$206,010,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$118,219,803
Salaries, Compensation, and Employee Benefits$66,752,456
Grants and Similar Amounts Paid$1,392,634
Total Fundraising Expense$417,607
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$39,044,946$10,278,238$147,576$49,470,760
Office Expenses$37,839,834$9,208,998$258,748$47,307,580
Depreciation Depletion$11,045,639$3,682,937-$14,728,576
Occupancy$10,959,275$2,570,694-$13,529,969
Payroll Taxes$9,443,410$2,215,120-$11,658,530
Other Employee Benefits$3,756,513$626,481$11,283$4,394,277
Interest$1,957,627$2,347,239-$4,304,866
Travel$3,189,134$748,069-$3,937,203
Insurance$2,164,675$507,763-$2,672,438
Information Technology$1,506,752$353,436-$1,860,188
Grants to Domestic Individuals$1,392,634--$1,392,634
Fees for Services Accounting-$1,256,471-$1,256,471
Current Officers, Directors, Trustees, and Key Employees$995,400$233,489-$1,228,889
Fees for Services Legal$977,947$229,395-$1,207,342
Advertising$723,864$169,795-$893,659
Other Expenses$322,870$75,735-$398,605
Total Functional Expenses$150,695,159$35,252,127$417,607$186,364,893

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$186,364,893
Total Expenses per Audited Statements$186,364,893
Total Expenses per Form 990$186,364,893
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$67,140,030

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
UnidentifiedInvestment-00$67,140,030
Central America and the CaribbeanInvestment-00-
East Asia and the PacificInvestment-00-
Europe (including Iceland & Greenland)Investment-00-
Middle East and North AfricaInvestment-00-
North AmericaInvestment-00-
South AsiaInvestment-00-
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Norma HarveyFirst LadyFor Services Rendered by Her Directly for the Benefit of the University for Events and Related Duties as First LadyNo$40,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans Refundable$5,963,846

Bond Issues

BondIssuerIssuedIssue PricePurpose
BVirginia Small Business Financing Authority - 2014 Series2014-11-26$115,090,000To refinance 2008 and 2009 series
AHistorically Black Colleges and Universities Capital Financing Program-20132013-05-31$57,604,377To legally defease 2009 series bonds
CVirginia College Building Authority Refunding Revenue Bonds - 2015 Series2015-07-23$14,240,000To refinance 2005 series educational facilities revenue and refunding bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$115,090,000$114,442,838$12,050,000$647,162
A$57,604,377$53,213,905$9,159,736$941,500
C$14,240,000$14,240,000$8,894,100-

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
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 35% controlled entity
No
Business relationship with family members
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The audit committee of the board of trustees reviews the form 990 prior to its submission at their scheduled meeting. They receive a copy in advance of the meeting.

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

This policy is reviewed by a committee appointed by the provost for violations of, or requests for exceptions. If violations to these standards are found, officers, employees or agents will be subject to disciplinary actions as recommended by the committee. Disciplinary actions may include letters of reprimand, suspensions, or termination of employment. The review process is to be completed within 30 days and a written recommendation made to the provost at that time.

Form 990, Part VI, Section B, Line 15

The board reviews the current salary, compares to comparables, and approves a yearly salary increase.

Form 990, Part VI, Section C, Line 19

Copies are provided upon request and or inspection in the comptroller's office

Filing and Contact Details

Filer

Filer Name
Hampton University
EIN
54-0505990
Phone
7577275213
Address
200 WILLIAM R HARVEY WAY, HAMPTON, VA 23668

Signing Officer

Name
Doretha J Spells
Title
Treasurer
Phone
7577275213
Signed
2021-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doretha J Spells
Formed
1868
Legal Domicile
Va
Voting Board Members
15
Independent Board Members
14
Employees
1,985
Volunteers
0

Preparer

Firm
Brown Edwards & Company Llp
Address
701 TOWN CENTER DRIVE, NEWPORT NEWS, VA 23606
Preparer
Hugh Barlow
Phone
7578731033
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

Hampton university has an audit committee that assumes responsibility for oversight of the audit of its financial statements and is charged with selection of an independent accountant. There has been no change in the process from prior years.

Financial Statement Notes

PART III, LINE 1A:

The university has extensive collections of works of art, historical treasures, and similar assets along with library materials, including books, periodicals, and other items. These collections are maintained and held for research, education, and public exhibition in furtherance of public service. Proceeds from any sales of collections are used to acquire other items for collections. The cost of collections purchased by the university is charged to expense in the year purchased and donated collection items are not recorded. The value of the university's collection has not been determined.

PART III, LINE 4:

In 2008, the hampton university museum and archives was one of 10 institutions and individuals recognized and honored as virginia's best artistic and cultural innovators. The museum received an original work of art as its reward and was honored at a ceremony held by governor kaine in richmond.

PART V, LINE 4:

The primary objectives for the endowment funds shall be: 1) to maximize the long run total return on the funds entrusted to the endowment consistent with prudent investment practice. Specifically, the goal will be to earn a real return with inflation adjusted of at least 5% over the long term. 2) to provide a reliable source of operating funds to the university.

PART X, LINE 2:

Tax positions are recognized or derecognized based on a more-likely-than-not threshold. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which change in judgment occurs. This applies to positions taken or expected to be taken in a tax return. The university recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in accounts payable and accrued liabilties, if assessed. No interest expense or penalties have been recognized as of and for the years ended june 30, 2020 and 2019. The university does not believe its consolidated financial statements include (or reflect) any uncertain tax positions.

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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/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDENT AND GENERAL COUNSEL
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IRS990/MissionDesc0HAMPTON UNIVERSITY IS A COMPREHENSIVE INSTITUTION OF HIGHER EDUCATION, DEDICATED TO THE PROMOTION OF LEARNING, BUILDING OF CHARACTER AND PREPARATION OF PROMISING STUDENTS FOR POSITIONS OF LEADERSHIP AND SERVICE. ITS CURRICULUM EMPHASIS IS SCIENTIFIC AND PROFESSIONAL WITH A STRONG LIBERAL ARTS UNDERGIRDING. IN CARRYING OUT ITS MISSION, THE UNIVERSITY REQUIRES THAT EVERYTHING THAT IT DOES BE OF THE HIGHEST QUALITY. RESEARCH AND PUBLIC SERVICE ARE INTEGRAL PARTS OF HAMPTON'S MISSION. IN ORDER TO ENHANCE SCHOLARSHIP AND DISCOVERY, FACULTY ARE ENGAGED IN WRITING, RESEARCH, AND GRANTSMANSHIP. FACULTY, STAFF AND STUDENTS PROVIDE LEADERSHIP AND SERVICE TO THE UNIVERSITY AS WELL AS THE GLOBAL COMMUNITY. IN ACHIEVING ITS MISSION, HAMPTON UNIVERSITY OFFERS EXEMPLARY PROGRAMS AND OPPORTUNITIES WHICH ENABLE STUDENTS, FACULTY AND STAFF TO GROW, DEVELOP AND CONTRIBUTE TO OUR SOCIETY IN A PRODUCTIVE, USEFUL MANNER.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$865$186$679$204$240$35.6
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$884$155$729$197$213$15.4
2022Detailed filing. Detailed filing data is available for this year.$892$158$734$241$195$46.2
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$894$165$729$270$172$98.7
2020Detailed filing. Detailed filing data is available for this year.$779$205$574$206$186$19.6
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$785$215$571$202$189$12.5
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$779$223$556$213$183$29.9
2017Detailed filing. Detailed filing data is available for this year.$752$231$521$202$184$18.2
2016Detailed filing. Detailed filing data is available for this year.$719$236$483$171$161$9.84
2015Detailed filing. Detailed filing data is available for this year.$733$248$486$168$160$8.88
2014Detailed filing. Detailed filing data is available for this year.$745$260$485$169$151$18.2
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$717$272$445$164
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$705$280$425$161
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$694$279$415$140
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$648$270$377$142