Civic Intelligence

Alderson Broaddus University Inc.

990 • Fiscal year 2014 • EIN 55-0357072

Jul 01, 2013 to Jun 30, 2014 • Filed on May 14, 2015

101 College Hill Drive Box 200426416-6004

(304) 457-1700

Siviq Scores

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

Liabilities / Assets

77th percentile

0.65x

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

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

77th percentile

1.32x

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

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

14th percentile

-7.0%

Higher net margin than 14% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$182,322

Higher top officer pay than 19% of similar nonprofits.

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

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

8th percentile

-6.6%

Faster asset growth than 8% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$69,672,594

Down $4,950,507 (-6.6%) from 2013

Net Assets

Down

$24,513,629

Down $1,897,429 (-7.2%) from 2013

Liabilities

Down

$45,158,965

Down $3,053,078 (-6.3%) from 2013

Revenue

$34,105,421

No earlier filing loaded for comparison.

Expenses

Up

$36,502,397

Up $5,875,953 (+19%) from 2013

Net Income

-$2,396,976

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2010: $36,614,696Liabilities 2010: $12,640,296Net Assets 2010: $23,974,4002010Assets 2011: $40,610,194Liabilities 2011: $14,950,488Net Assets 2011: $25,659,7062011Assets 2012: $49,065,357Liabilities 2012: $18,794,125Net Assets 2012: $30,271,2322012Assets 2013: $74,623,101Liabilities 2013: $48,212,043Net Assets 2013: $26,411,0582013Assets 2014: $69,672,594Liabilities 2014: $45,158,965Net Assets 2014: $24,513,6292014Assets 2015: $68,716,437Liabilities 2015: $46,840,691Net Assets 2015: $21,875,7462015Assets 2016: $67,423,818Liabilities 2016: $48,576,975Net Assets 2016: $18,846,8432016Assets 2017: $60,248,377Liabilities 2017: $47,263,225Net Assets 2017: $12,985,1522017Assets 2018: $59,528,035Liabilities 2018: $50,916,494Net Assets 2018: $8,611,5412018Assets 2019: $59,598,741Liabilities 2019: $36,640,690Net Assets 2019: $22,958,0512019Assets 2020: $59,371,702Liabilities 2020: $37,444,582Net Assets 2020: $21,927,1202020Assets 2021: $59,737,963Liabilities 2021: $38,107,314Net Assets 2021: $21,630,6492021Assets 2022: $55,445,613Liabilities 2022: $39,408,196Net Assets 2022: $16,037,4172022Assets 2023: $55,868,612Liabilities 2023: $38,999,745Net Assets 2023: $16,868,8672023Assets 2024: $11,045,176Liabilities 2024: $38,999,745Net Assets 2024: -$27,954,5692024Assets 2025: $10,923,086Liabilities 2025: $38,777,975Net Assets 2025: -$27,854,8892025

Highlighted filing

2014

Assets$69,672,594
Liabilities$45,158,965
Net Assets$24,513,629

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $21,970,8892010Expenses 2011: $21,344,7402011Expenses 2012: $24,059,3272012Expenses 2013: $30,626,4442013Revenue 2014: $34,105,421Expenses 2014: $36,502,397Net Income 2014: -$2,396,9762014Revenue 2015: $35,799,801Expenses 2015: $38,379,984Net Income 2015: -$2,580,1832015Revenue 2016: $37,664,791Expenses 2016: $40,676,736Net Income 2016: -$3,011,9452016Revenue 2017: $36,857,465Expenses 2017: $39,478,870Net Income 2017: -$2,621,4052017Revenue 2018: $34,882,109Expenses 2018: $38,674,601Net Income 2018: -$3,792,4922018Revenue 2019: $52,195,523Expenses 2019: $36,938,195Net Income 2019: $15,257,3282019Revenue 2020: $36,578,070Expenses 2020: $37,482,494Net Income 2020: -$904,4242020Revenue 2021: $38,055,721Expenses 2021: $38,577,872Net Income 2021: -$522,1512021Revenue 2022: $31,586,217Expenses 2022: $36,952,937Net Income 2022: -$5,366,7202022Revenue 2023: $29,413,345Expenses 2023: $28,581,895Net Income 2023: $831,4502023Revenue 2024: -$43,519,766Expenses 2024: $1,303,670Net Income 2024: -$44,823,4362024Revenue 2025: $147,560Expenses 2025: $47,880Net Income 2025: $99,6802025

Highlighted filing

2014

Revenue$34,105,421
Expenses$36,502,397
Net Income-$2,396,976
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 14, 2015
Return Version
2013v4.0
Gross Receipts
$34,755,421
Mission and Program Overview

Mission

Alderson-broaddus university is an independent institution of higher learning,committed to serving the region as an academic, cultural, and religious resource, with programs based on a strong liberal arts foundation. The university is rooted in historic and continuing relationships with the west virginia baptist convention and the american baptist churches usa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$42,941,392$51,532,901▲ $8,591,509
Investments in Publicly Traded Securities$5,499,257$5,381,351▼ $117,906
Pledges and Grants Receivable$3,527,292$3,997,527▲ $470,235
Other Notes and Loans Receivable, Net$2,458,911$2,307,321▼ $151,590
Accounts Receivable$482,532$422,076▼ $60,456
Savings and Temporary Cash Investments$284,153$325,604▲ $41,451
Inventories for Sale or Use$155,148$209,992▲ $54,844
Prepaid Expenses and Deferred Charges$221,412$99,760▼ $121,652
Total Assets$74,623,101$69,672,594▼ $4,950,507
Other Assets Total$19,053,004$5,396,062▼ $13,656,942
Liabilities
Tax Exempt Bond Liabilities$36,785,000$36,785,000→ $0
Other Liabilities$5,169,220$4,157,408▼ $1,011,812
Accounts Payable and Accrued Expenses$4,835,116$2,803,601▼ $2,031,515
Mortgage Notes Payable Secured by Investment Property$936,717$987,602▲ $50,885
Deferred Revenue$485,990$425,354▼ $60,636
Total Liabilities$48,212,043$45,158,965▼ $3,053,078
Net Assets / Fund Balance
Permanently Rstr Net Assets$18,847,724$19,470,606▲ $622,882
Temporarily Rstr Net Assets$6,145,150$7,337,505▲ $1,192,355
Unrestricted Net Assets$1,418,184$-2,294,482▼ $3,712,666
Total Net Assets Fund Balance$26,411,058$24,513,629▼ $1,897,429
Total Liabilities and Net Assets / Fund Balance$74,623,101$69,672,594▼ $4,950,507

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$37,609,128$19,672,034$57,281,162
Other Land Buildings$10,268,526$538,231$10,806,757
Equipment$3,028,673$5,615,167$8,643,840
Land$626,574-$626,574
Other Assets Org$1,444,287--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$16,900,604$297,543▲ $167,783-$17,365,930
2012$16,315,331$491,833▲ $93,439-$16,900,604
2011$18,154,650$927,369▼ $763,120$-2,003,568$16,315,331
2010$15,823,477$141,372▲ $2,553,330$363,559$18,154,650
2009$14,446,029$249,033▲ $1,583,269$454,854$15,823,477
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Mr Richard CreehanUniversity P$170,000$12,322$182,322
Mr Richard CreehanUniversity President$170,000$12,322$182,322
Bruce BlankenshipVP Bus. & Fi$86,500$9,952$96,452

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo INC & AffiliatesFacility Mgmt-$2,040,344
Sodexo Operations LLCFood Srv. Mgmt-$509,281
Bsn Sports--$270,447
Xerox Corporation--$193,709
Morgantown Printing And Binding--$185,553
Revenue and Support

Revenue Composition

Contributions and Grants
$2,638,441
Program Service Revenue
$31,050,910
Investment Income
$92,865
Other Revenue
$323,205
All Other Contributions
$2,241,281
Change in Net Assets
$-2,396,976

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,111,567
Revenue Not Reported on Financial Statements
$12,993,854
Revenue Not Reported on Form 990
$499,547
Other Revenue Adjustments
$12,993,854
Total Revenue per Audited Statements
$21,611,114
Total Revenue per Form 990
$34,105,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,993,854
Other Expenses$12,001,335
Salaries, Compensation, and Employee Benefits$11,507,208
Total Fundraising Expense$583,865
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$12,993,854--$12,993,854
Other Salaries and Wages$7,962,588$713,822$245,166$8,921,576
Other Employee Benefits$1,948,518$280,000$88,292$2,316,810
Office Expenses$1,873,206$112,392$63,655$2,049,253
Interest$1,254,818$451,774-$1,706,592
Depreciation Depletion$1,232,035$429,800-$1,661,835
Occupancy$1,224,467$9,184$11,292$1,244,943
Travel$1,048,522$117,943$50,285$1,216,750
Fees for Services Other$477,902$284,140-$762,042
Insurance$96,558$269,279-$365,837
Fees for Services Management$29,338$312,459-$341,797
Current Officers, Directors, Trustees, and Key Employees-$268,822-$268,822
Other Expenses$62,011$37,897$1,100$99,908
All Other Expenses$-418,310$418,310--
Total Functional Expenses$31,807,025$4,111,507$583,865$36,502,397

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$36,502,397
Expenses per Audited Statements$23,508,543
Total Expenses per Audited Statements$23,508,543
Expenses Not Reported on Financial Statements$12,993,854
Other Expense Adjustments$12,993,854
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
Refundable Advances$3,614,871
Obligations Under Split Int. Agree.$417,931
Capital Lease Obligations$124,606

Bond Issues

BondIssuerIssuedIssue PricePurpose
A55-01435902012-11-30$36,785,000Campus construction projects and refunding of prior issuance

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$34,275,000$8,487,421-$735,700

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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, Page 6, Part VI, Line 11B

An electronic version of the form 990 will be provided to the executive committee of the board of trustees and also to members of the business and finance committee of the board of trustees prior to it being filed. The full board of trustees will also receive an electronic copy for their review prior to the next scheduled semi-annual meeting of that body.

Form 990, Page 6, Part VI, Line 12C

The board signs the conflict of interest policy forms annually.

Form 990, Page 6, Part VI, Line 15A

The compensation for the president of the university is determined by the executive committe of the board of trustees based on comparability data and independent consultants when available.

Form 990, Page 6, Part VI, Line 19

Copies of the organization's governing documents, conflict of interest policy, and financial statements are made available upon request from members of the public.

Filing and Contact Details

Filer

EIN
55-0357072
Phone
3044571700

Signing Officer

Name
Bruce Blankenship
Title
Vice President for Bus. & Fin.
Phone
3044571700
Signed
2015-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Blankenship
Formed
1861
Legal Domicile
Wv
Voting Board Members
17
Independent Board Members
15
Employees
1,000

Preparer

Preparer
Melissa Price
Phone
3043458400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Alderson-broaddus university is an independent institution of higher learning,committed to serving the region as an academic, cultural, and religious resource, with programs based on a strong liberal arts foundation. The university is rooted in historic and continuing relationships with the west virginia baptist convention and the american baptist churches usa.

Form 990, Page 2, Part III, Line 4D

OTHER PROGRAM SERVICES

Form 990, Part XI, Line 9

Net gain on beneficial interest in trust 329,312 change in vlaue of split interest agreements -22,273 scholarships and awards -12,993,854 scholarships and awards 12,993,854

Financial Statement Notes

Schedule D, Page 3, Part X

The university is classified as a tax-exempt organization under section 501(c)(3) of the internal revenue code and, therefore, is not subject to taxes on income derived from its exempt activities. The organization has been classified as an organization that is not a private foundation under section 509(a)(2). The university is generally no longer subject to examination by income taxing authorities for years ended prior to june 30, 2011.

Schedule D, Page 4, Part XI, Line 2D

Net gain on beneficial interest in trust 329,312 change in vlaue of split interest agreements -22,273

Schedule D, Page 4, Part XI, Line 4B

Scholarships and awards 12,993,854

Schedule D, Page 4, Part XII, Line 4B

Scholarships and awards 12,993,854

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IRS990/Form990PartVIISectionAGrp/PersonNm10MR THOMAS HECKMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
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IRS990/MissionDesc0ALDERSON-BROADDUS UNIVERSITY IS AN INDEPENDENT INSTITUTION OF HIGHER LEARNING,COMMITTED TO SERVING THE REGION AS AN ACADEMIC, CULTURAL, AND RELIGIOUS RESOURCE, WITH PROGRAMS BASED ON A STRONG LIBERAL ARTS FOUNDATION. THE UNIVERSITY IS ROOTED IN HISTORIC AND CONTINUING RELATIONSHIPS WITH THE WEST VIRGINIA BAPTIST CONVENTION AND THE AMERICAN BAPTIST CHURCHES USA.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$10.9$38.8$27.9$0.15$0.05$0.10
2024Detailed filing. Detailed filing data is available for this year.$11.0$39.0$28.0$43.5$1.30$44.8
2023Detailed filing. Detailed filing data is available for this year.$55.9$39.0$16.9$29.4$28.6$0.83
2022Detailed filing. Detailed filing data is available for this year.$55.4$39.4$16.0$31.6$37.0$5.37
2021Detailed filing. Detailed filing data is available for this year.$59.7$38.1$21.6$38.1$38.6$0.52
2020Detailed filing. Detailed filing data is available for this year.$59.4$37.4$21.9$36.6$37.5$0.90
2019Detailed filing. Detailed filing data is available for this year.$59.6$36.6$23.0$52.2$36.9$15.3
2018Detailed filing. Detailed filing data is available for this year.$59.5$50.9$8.61$34.9$38.7$3.79
2017Detailed filing. Detailed filing data is available for this year.$60.2$47.3$13.0$36.9$39.5$2.62
2016Detailed filing. Detailed filing data is available for this year.$67.4$48.6$18.8$37.7$40.7$3.01
2015Detailed filing. Detailed filing data is available for this year.$68.7$46.8$21.9$35.8$38.4$2.58
2014Detailed filing. Detailed filing data is available for this year.$69.7$45.2$24.5$34.1$36.5$2.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.6$48.2$26.4$30.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.1$18.8$30.3$24.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.6$15.0$25.7$21.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.6$12.6$24.0$22.0