Civic Intelligence

Hampton University

990 • Fiscal year 2022 • EIN 54-0505990

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

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

35th percentile

0.18x

Higher debt load relative to assets than 35% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

61st percentile

0.66x

Higher debt load relative to revenue than 61% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Net Margin

78th percentile

19%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

59th percentile

$1,041,759

Higher top officer pay than 59% of similar nonprofits.

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

2022 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2022

Asset Growth

62nd percentile

-0.2%

Faster asset growth than 62% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

18th percentile

-11%

Faster revenue growth than 18% of similar nonprofits.

2022 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2021 to 2022

Assets

Down

$891,896,119

Down $1,981,401 (-0.2%) from 2021

Net Assets

Up

$733,682,968

Up $4,513,317 (+0.6%) from 2021

Liabilities

Down

$158,213,151

Down $6,494,718 (-3.9%) from 2021

Revenue

Down

$241,045,941

Down $29,281,153 (-11%) from 2021

Expenses

Up

$194,863,684

Up $23,278,248 (+14%) from 2021

Net Income

Down

$46,182,257

Down $52,559,401 (-53%) from 2021

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

2022

Assets$891,896,119
Liabilities$158,213,151
Net Assets$733,682,968

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

2022

Revenue$241,045,941
Expenses$194,863,684
Net Income$46,182,257
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$333,704,435
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$418,852,478$425,699,583▲ $6,847,105
Investments Other Securities$251,429,467$234,818,842▼ $16,610,625
Investments in Publicly Traded Securities$144,134,387$127,841,386▼ $16,293,001
Prepaid Expenses and Deferred Charges$7,908,985$39,954,892▲ $32,045,907
Cash and Non-Interest-Bearing Accounts$26,579,352$22,622,090▼ $3,957,262
Pledges and Grants Receivable$20,968,072$22,124,995▲ $1,156,923
Accounts Receivable$15,792,398$11,429,981▼ $4,362,417
Other Notes and Loans Receivable, Net$7,537,253$6,729,011▼ $808,242
Savings and Temporary Cash Investments$675,128$675,339▲ $211
Total Assets$893,877,520$891,896,119▼ $1,981,401
Liabilities
Tax Exempt Bond Liabilities$102,912,358$98,356,002▼ $4,556,356
Deferred Revenue$33,867,170$31,437,973▼ $2,429,197
Accounts Payable and Accrued Expenses$17,181,338$18,941,659▲ $1,760,321
Mortgage Notes Payable Secured by Investment Property$5,976,085$5,544,043▼ $432,042
Other Liabilities$4,770,918$3,933,474▼ $837,444
Total Liabilities$164,707,869$158,213,151▼ $6,494,718
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$646,745,384$649,675,194▲ $2,929,810
Net Assets With Donor Restrictions$82,424,267$84,007,774▲ $1,583,507
Total Net Assets Fund Balance$729,169,651$733,682,968▲ $4,513,317
Total Liabilities and Net Assets / Fund Balance$893,877,520$891,896,119▼ $1,981,401

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$268,111,095$246,466,939$514,578,034
Equipment$113,928,035$111,723,656$225,651,691
Other Land Buildings$37,086,526-$37,086,526
Land$6,573,927-$6,573,927
Other Securities$26,579,308--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$380,242,204$4,272,735▼ $33,401,244$250,000$350,863,695
2020$289,786,861$17,089,647▲ $74,344,461$978,765$380,242,204
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr William R HarveyPresidentFT$642,600$399,159$1,041,759
Mrs Doretha J SpellsVice President for Business Affairs / TreasurerFT$320,816$74,141$394,957
Mrs Doretha J SpellsVice President for Business Affairs-$320,816$74,141$394,957
Dr Patrick MccormickResearch ProfessorFT$313,500$72,450$385,950
Dr James RussellResearch ProfessorFT$291,805$67,436$359,241
Dr Joanna HaysbertProvost and ChancellorFT$266,372$61,558$327,930
Mr Roberty PruntyHead Football CoachFT$257,703$59,555$317,258
Attorney Faye Hardy-lucasVice President and General CounselFT$228,549$52,818$281,367
Dr Kermit CrawfordBoard MemberFT$114,950-$114,950

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Gourmet Services INCFood Service260 PEACHTREE ST NW STE 1500, Atlanta, GA 30303$7,894,104
Armada Hoffler Construction CompanyBuilding Contractor222 CENTRAL PARK AVE STE 1000, Virginia Beach, VA 23462$6,790,023
Adrian Builders Group LLCBuilding Contractor3488 CHANDLER CREEK RD, Virginia Beach, VA 23453$5,530,855
Mark Turner Construction LLCBuilding Contractor10474 COBBS RD, Glen Allen, VA 23059$4,346,263
University Of Colorado - BoulderGrants Sub-contractorPO BOX 910220, Denver, CO 80291$3,353,689
Revenue and Support

Revenue Composition

Contributions and Grants
$79,256,416
Program Service Revenue
$118,903,354
Investment Income
$10,719,705
Other Revenue
$32,166,466
All Other Contributions
$21,830,003
Change in Net Assets
$46,182,257

Audited Revenue Reconciliation

Revenue per Audited Statements
$241,045,941
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-41,668,940
Total Revenue per Audited Statements
$199,377,001
Total Revenue per Form 990
$241,045,941
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$129,695,789
Salaries, Compensation, and Employee Benefits$64,110,876
Grants and Similar Amounts Paid$1,057,019
Total Fundraising Expense$295,635
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$46,380,404$11,319,073$276,028$57,975,505
Other Salaries and Wages$33,068,575$14,799,746$19,607$47,887,928
Depreciation Depletion$14,789,146$4,171,298-$18,960,444
Occupancy$13,240,290$3,734,441-$16,974,731
Other Employee Benefits$9,157,779$2,289,445-$11,447,224
Insurance$4,016,215$1,132,778-$5,148,993
Interest$3,253,073$1,265,084-$4,518,157
Payroll Taxes$2,795,332$788,427-$3,583,759
Information Technology$2,572,961$725,707-$3,298,668
Travel$2,045,334$511,334-$2,556,668
Current Officers, Directors, Trustees, and Key Employees$953,572$238,393-$1,191,965
Grants to Domestic Individuals$1,057,019--$1,057,019
Fees for Services Accounting$767,704$191,926-$959,630
Advertising$402,642$113,566-$516,208
Fees for Services Legal$178,796$50,430-$229,226
Other Expenses$173,113$48,827-$221,940
Total Functional Expenses$149,153,738$45,414,311$295,635$194,863,684

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$194,863,684
Total Expenses per Audited Statements$194,863,684
Total Expenses per Form 990$194,863,684
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$46,927,439

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
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
UnidentifiedInvestment---$46,927,439
Central America and the CaribbeanInvestment----
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,Investment----
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumInvestment----
Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt,Investment----
North America - Canada and Mexico, But Not the United StatesInvestment----
South Asia - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal,Investment----
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$218,503
Kelly HarveyDaughter of Hu President and Director of Center for Public PolicyFOR SERVICES RENDERED BY HER DIRECTLY SERVING AS DIRECTOR OF CENTER FOR PUBLIC POLICY; TITLE IX COORDINATOR AND LEGAL ASST.No$182,391
Leslie HarveyDaughter of Hu President and Director, Hu Real Estate FoundationFor Services Rendered by Her Directly Serving as Director of the Hu Real Estate FoundationNo$129,522
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans Refundable$3,933,474

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-$647,162
A$57,604,377$53,213,905-$941,500
C$14,240,000$14,240,000--

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
2023-05-15
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
1,545
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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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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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