Civic Intelligence

Pfeiffer University

EIN 56-0529990 • 501(c)3 • Misenheimer, NC

Profile

Pfeiffer is a globally engaged, regional university distinctive for its transformational undergraduate experiences and its leadership in professional and graduate programs that fill demonstrated needs. Vested in its history as a united methodist-related university, and propelled forward by an innovative faculty, pfeiffer prepares its students for a lifetime of achievement, scholarship, spirituality, and service.

PO Box 960Misenheimer, NC 28109

www.pfeiffer.edu

Siviq Scores

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

Liabilities / Assets

78th percentile

0.61x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

0.99x

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

501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

41st percentile

1.7%

Higher net margin than 41% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

28th percentile

$247,625

Higher top officer pay than 28% of similar nonprofits.

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

501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

46th percentile

5.2%

Faster asset growth than 46% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

26th percentile

-2.3%

Faster revenue growth than 26% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$72,007,748

Up $3,555,379 (+5.2%) from 2022

Liabilities

Up

$43,863,507

Up $2,026,184 (+4.8%) from 2022

Net Assets

Up

$28,144,241

Up $1,529,195 (+5.7%) from 2022

Revenue

Down

$44,103,969

Down $1,031,741 (-2.3%) from 2022

Expenses

Down

$43,353,660

Down $811,893 (-1.8%) from 2022

Net Income

Down

$750,309

Down $219,848 (-23%) from 2022

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $45,927,209Liabilities 2010: $25,563,008Net Assets 2010: $20,364,2012010Assets 2011: $45,825,433Liabilities 2011: $22,045,429Net Assets 2011: $23,780,0042011Assets 2012: $46,220,010Liabilities 2012: $22,329,359Net Assets 2012: $23,890,6512012Assets 2013: $48,046,498Liabilities 2013: $22,297,947Net Assets 2013: $25,748,5512013Assets 2014: $48,615,387Liabilities 2014: $22,848,102Net Assets 2014: $25,767,2852014Assets 2015: $47,124,907Liabilities 2015: $20,842,370Net Assets 2015: $26,282,5372015Assets 2016: $43,289,144Liabilities 2016: $20,899,193Net Assets 2016: $22,389,9512016Assets 2017: $41,716,509Liabilities 2017: $17,746,618Net Assets 2017: $23,969,8912017Assets 2018: $38,449,569Liabilities 2018: $17,731,212Net Assets 2018: $20,718,3572018Assets 2019: $61,698,644Liabilities 2019: $45,356,946Net Assets 2019: $16,341,6982019Assets 2020: $68,487,600Liabilities 2020: $46,085,664Net Assets 2020: $22,401,9362020Assets 2021: $68,125,278Liabilities 2021: $42,521,959Net Assets 2021: $25,603,3192021Assets 2022: $68,452,369Liabilities 2022: $41,837,323Net Assets 2022: $26,615,0462022Assets 2023: $72,007,748Liabilities 2023: $43,863,507Net Assets 2023: $28,144,2412023

Highlighted filing

2023

Assets$72,007,748
Liabilities$43,863,507
Net Assets$28,144,241

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $33,565,8272010Expenses 2011: $32,433,7922011Expenses 2012: $33,899,3942012Expenses 2013: $34,629,8402013Revenue 2014: $35,030,828Expenses 2014: $37,751,709Net Income 2014: -$2,720,8812014Revenue 2015: $38,866,426Expenses 2015: $38,236,380Net Income 2015: $630,0462015Revenue 2016: $36,451,433Expenses 2016: $39,608,765Net Income 2016: -$3,157,3322016Revenue 2017: $44,482,973Expenses 2017: $41,680,288Net Income 2017: $2,802,6852017Revenue 2018: $37,524,189Expenses 2018: $40,737,886Net Income 2018: -$3,213,6972018Revenue 2019: $41,053,285Expenses 2019: $43,584,180Net Income 2019: -$2,530,8952019Revenue 2020: $47,817,535Expenses 2020: $41,013,535Net Income 2020: $6,804,0002020Revenue 2021: $47,444,626Expenses 2021: $44,272,627Net Income 2021: $3,171,9992021Revenue 2022: $45,135,710Expenses 2022: $44,165,553Net Income 2022: $970,1572022Revenue 2023: $44,103,969Expenses 2023: $43,353,660Net Income 2023: $750,3092023

Highlighted filing

2023

Revenue$44,103,969
Expenses$43,353,660
Net Income$750,309

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$72.0$43.9$28.1$44.1$43.4$0.75
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.5$41.8$26.6$45.1$44.2$0.97
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.1$42.5$25.6$47.4$44.3$3.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$68.5$46.1$22.4$47.8$41.0$6.80
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$61.7$45.4$16.3$41.1$43.6$2.53
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.4$17.7$20.7$37.5$40.7$3.21
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.7$17.7$24.0$44.5$41.7$2.80
2016Summary only. Only limited summary data is available for this year.$43.3$20.9$22.4$36.5$39.6$3.16
2015Summary only. Only limited summary data is available for this year.$47.1$20.8$26.3$38.9$38.2$0.63
2014Detailed filing. Detailed filing data is available for this year.$48.6$22.8$25.8$35.0$37.8$2.72
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.0$22.3$25.7$34.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.2$22.3$23.9$33.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.8$22.0$23.8$32.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.9$25.6$20.4$33.6
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 17, 2023
Return Version
2021v4.2
Gross Receipts
$47,678,172
Mission and Program Overview

Mission

Pfeiffer is a globally engaged, regional university distinctive for its transformational undergraduate experiences and its leadership in professional and graduate programs that fill demonstrated needs. Vested in its history as a united methodist-related university, and propelled forward by an innovative faculty, pfeiffer prepares its students for a lifetime of achievement, scholarship, spirituality, and service.

Pfeiffer university is a comprehensive united methodist-related university, with multiple campuses and delivery systems, committed to educational excellence, service, and scholarship. Within nurturing communities of learners, we value diversity and promote the attainment of full academic and personal potential through accessible undergraduate and graduate programs. It is the vision of the university that our students embrace the christian values of human dignity, integrity, and service and become servant leaders and lifelong learners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,494,180$40,393,872▼ $100,308
Savings and Temporary Cash Investments$8,425,495$8,475,153▲ $49,658
Investments in Publicly Traded Securities$8,542,387$8,023,967▼ $518,420
Cash and Non-Interest-Bearing Accounts$7,075,172$6,460,125▼ $615,047
Pledges and Grants Receivable$2,499,032$2,976,886▲ $477,854
Prepaid Expenses and Deferred Charges$61,163$1,079,392▲ $1,018,229
Accounts Receivable$404,045$387,067▼ $16,978
Other Notes and Loans Receivable, Net$115,205$174,865▲ $59,660
Inventories for Sale or Use$29,745$29,745→ $0
Investments Other Securities$30,641$28,620▼ $2,021
Total Assets$68,125,278$68,452,369▲ $327,091
Other Assets Total$448,213$422,677▼ $25,536
Liabilities
Mortgage Notes Payable Secured by Investment Property$37,551,727$36,672,094▼ $879,633
Accounts Payable and Accrued Expenses$1,804,398$2,203,840▲ $399,442
Deferred Revenue$1,573,395$1,914,450▲ $341,055
Other Liabilities$1,592,439$1,046,939▼ $545,500
Total Liabilities$42,521,959$41,837,323▼ $684,636
Net Assets / Fund Balance
Net Assets With Donor Restrictions$21,188,921$21,011,646▼ $177,275
Net Assets Without Donor Restrictions$4,414,398$5,603,400▲ $1,189,002
Total Net Assets Fund Balance$25,603,319$26,615,046▲ $1,011,727
Total Liabilities and Net Assets / Fund Balance$68,125,278$68,452,369▲ $327,091

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$30,824,262$25,229,997$56,054,259
Equipment$6,066,329$10,503,055$16,569,384
Land$3,417,937-$3,417,937
Other Land Buildings$85,344$140$85,484

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$16,324,708$665,231▼ $1,138,430-$15,851,509
2020$14,198,030$407,810▲ $1,718,868-$16,324,708
2019$14,183,026$735,638▲ $396,137$1,116,771$14,198,030
2018$15,252,892$532,240▲ $670,616$2,272,722$14,183,026
2017$15,798,327$1,148,377▲ $1,239,188$2,933,000$15,252,892
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Scott BullardPresidentFT$236,278$11,347$247,625
Robin LeslieSenior VP of Finance and CFOFT$141,774$6,276$148,050
Elizabeth FainOt Program DirectorFT$126,344$6,276$132,620
Christopher BoeProf of Elementary Educ & Dean of Graduate SchoolFT$118,421$6,179$124,600
Emily CarellaVP for Enrollmment ManagementFT$107,639$9,041$116,680

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo Food Service INCFood ServicesPO BOX 960, Misenheimer, NC 28109$1,914,498
Sodexo INC & AffiliatesMaintenance ServicesPO BOX 536922, Atlanta, GA 30353-6922$1,251,041
JenzabarSoftware/it101 HUNTINGTON AVE SUITE 2205, Boston, MA 02199$499,529
Gallaher Mgmt GroupConstruction270 LIVE OAK DR, Newport, NC 28570$281,457
Digital TulipAdvertising2328 ABBYWOOD RD, Lexington, KY 40515$281,010
Revenue and Support

Revenue Composition

Contributions and Grants
$9,705,306
Program Service Revenue
$36,233,175
Investment Income
$-1,126,454
Other Revenue
$323,683
All Other Contributions
$6,800,331
Change in Net Assets
$970,157

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
Real Estate Residential1$2,130,000Tax Record
Securities Publicly Traded11$273,295Fair Market Value (FMV)
Other Non Cash Contri Table2$3,067Fair Market Value (FMV)
Other Non Cash Contri Table3$700Cost
Total Noncash Contributions17$2,407,062-

Audited Revenue Reconciliation

Revenue per Audited Statements
$31,546,135
Revenue Not Reported on Financial Statements
$13,589,575
Revenue Not Reported on Form 990
$60,235
Other Revenue Adjustments
$13,536,029
Total Revenue per Audited Statements
$31,606,370
Total Revenue per Form 990
$45,135,710
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,306,408
Salaries, Compensation, and Employee Benefits$14,323,116
Grants and Similar Amounts Paid$13,536,029
Total Fundraising Expense$589,850
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$13,536,029--$13,536,029
Other Salaries and Wages$9,853,998$1,386,225$344,673$11,584,896
Fees for Services Other$3,952,992$1,379,703$94,515$5,427,210
Depreciation Depletion$1,654,462$1,277,422-$2,931,884
Occupancy$1,619,620$477,972-$2,097,592
Other Employee Benefits$1,104,263$229,624$41,254$1,375,141
Information Technology$950,297$169,898$1,692$1,121,887
Payroll Taxes$726,764$77,170$46,790$850,724
Interest$448,079$341,407-$789,486
Current Officers, Directors, Trustees, and Key Employees$435,804$61,307$15,244$512,355
Travel$370,810$43,628$3,296$417,734
Advertising$4,470$337,352$9,572$351,394
Insurance$51,143$288,789-$339,932
Office Expenses$176,572$97,854$8,657$283,083
All Other Expenses$14,150$184,285$11,968$210,403
Conferences and Meetings$53,998$9,009$1,864$64,871
Fees for Service Investment Mgmnt Fees-$53,546-$53,546
Other Expenses$0$26,000$0$26,000
Total Functional Expenses$35,290,234$8,285,469$589,850$44,165,553

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$44,165,553
Total Expenses per Audited Statements$30,594,643
Expenses per Audited Statements$30,575,978
Expenses Not Reported on Financial Statements$13,589,575
Other Expense Adjustments$13,536,029
Expenses Not Reported on Form 990$18,665
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$31,855
Fundraising Direct Expenses$18,666
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$40,655$31,855$352$31,503
Total Events$40,655$31,855$18,666$13,189
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Settlement Liability$675,004
Advances From Federal Government$362,122
Annuities Payable$9,813
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
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Pfeiffer university's form 990 is sent to the president, cfo, and all board of trustee members for individual review before the return is submitted. The finance committee will review in detail at a scheduled meeting prior to submission.

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

Pfeiffer university requires all trustees to complete a conflicts of interest form annually, which is reviewed by the president's office. In the event of a potential conflict during the year, the interested person shall recuse himself/herself from discussions and vote on the matter.

Form 990, Part VI, Section B, Line 15

The executive committee of the board of trustees or finance committee annually reviews comparable external data and benchmarks, as well as performance in determining appropriate compensation. The decision is documented in the board minutes.

Form 990, Part VI, Section C, Line 18

The organization makes its form 1023 and form 990 available upon request for the same period of disclosure as set forth in section 6104(d).

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available upon request for the same period of disclosure as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
Pfeiffer University
EIN
56-0529990
Phone
7044631360
Address
PO BOX 960, MISENHEIMER, NC 28109

Signing Officer

Name
Dr Scott W Bullard
Title
President
Phone
7044631360
Signed
2023-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Scott W Bullard
Formed
1938
Legal Domicile
Nc
Voting Board Members
25
Independent Board Members
25
Employees
327
Volunteers
110

Preparer

Firm
Elliott Davis Llcpllc
Address
500 EAST MOREHEAD STREET SUITE 700, CHARLOTTE, NC 28202
Preparer
Janice a Ratica
Phone
7043338881
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 0. Management and general expenses 83,407. Fundraising expenses 0. Total expenses 83,407. Contract services: program service expenses 3,952,992. Management and general expenses 1,296,296. Fundraising expenses 94,515. Total expenses 5,343,803.

FORM 990, PART XI, LINE 9:

Change in annuity valuation 1,096. Change in csv 11,488.

Form 990, Part XII, Line 2C

The process has not changed from the prior period.

Financial Statement Notes

PART III, LINE 4:

Framed original photograph of dr. Martin luther king, jr. And dr. Vernon mack herron. The march from selma to montgomery, al in 1965. Also, included is a geneology collection of books, documents and memorabilia from dr. Herron. These include his writings on the civil rights movement.

PART X, LINE 2:

The university is a tax-exempt entity under section 501(c)(3) of the internal revenue code (irc). The campus is a single member limited liability company and is therefore disregarded for income tax purposes. Accordingly, the accompanying consolidated financial statements do not reflect a provision or liability for federal and state income taxes. The university has determined that it does not have any material unrecognized tax benefits or obligations as of june 30, 2022 and 2021.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expense netted against revenue 18,665. Change in annuity valuation 1,096. Change in csv 11,488.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

SCHOLARSHIPS 13,536,029.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expense netted against revenue 18,665.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

SCHOLARSHIPS 13,536,029.

Raw XML AppendixShowing 400 of 849 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/Desc0IN THE 2021-2022 ACADEMIC YEAR, THE FRANCIS CENTER FOR SERVANT LEADERSHIP AND FAITH FORMATION PARTICIPATED IN A TOTAL OF 1478 HOURS OF SERVICE. IN ADDITION, OTHER UNIVERSITY AREAS PARTICIPATED IN 1112 HOURS OF SERVICE. THEREFORE, THE TOTAL NUMBER OF HOURS EQUALS A TOTAL OF 2590 HOURS.HIGHLIGHTS FOR THE YEAR INCLUDE:STUDENTS WORKED ON WEEKLY SERVICE PROJECTS WITH HABITAT FOR HUMANITY. THIRTY STUDENTS PARTICIPATED IN THESE SMALL GROUP EVENTS OVER THE FALL AND SPRING. FRANCIS SCHOLARS AND OTHER STUDENTS WORKED WITH LOCAL CHURCHES TO PROVIDE FOOD FOR RICHFIELD ELEMENTARY SCHOOL STUDENTS THROUGH THE PROGRAM BACKPACK BUDDIES. PFEIFFER PROVIDES ON-CAMPUS BACKPACK BUDDY PROJECT FOR THE CAMPUS POPULATION TWO TIMES EACH SEMESTER. THE FRANCIS CENTER HAD 62 PARTICIPANTS IN BACKPACK BUDDIES IN THE FALL AND SPRING. STUDENT PARTICIPATED IN BI-WEEKLY SERVICE PROJECTS WITH STANLY COUNTY CHRISTIAN MINISTRIES IN ALBEMARLE. THIS YEAR THEY SPECIFICALLY WORKED WITH MAKING SENIOR MEALS. TWELVE STUDENTS PARTICIPATED IN THIS MINISTRY DURING THE FALL AND SPRING.THE FRANCIS CENTER ALSO WORKED WITH LOCAL CHURCHES TO PROVIDE A GOOD NEIGHBOR PANTRY IN PFEIFFER'S CHAPEL TO HELP FOOD-INSECURE STUDENTS GET WHAT THEY NEED WITHOUT JUDGMENT. FIVE CHURCHES PARTICIPATED IN THE SERVICE OPPORTUNITY TO HELP STUDENTS. THE FRANCIS CENTER ALSO HOSTED ON-CAMPUS PROJECT LINUS, AN OPPORTUNITY WHERE STUDENTS MADE BLANKETS FOR HOSPITALIZED CHILDREN TWO TIMES DURING THE SEMESTER WITH 54 PARTICIPANTS. IN ADDITION, STUDENTS WROTE LETTERS TO VETERANS AND THOSE IN THE NURSING HOME MULTIPLE TIMES EACH SEMESTER WITH 68 PARTICIPANTS. STUDENTS COLLABORATED WITH HELPING HAND MINISTRY ANNUALLY TO PROVIDE AN ANGEL TREE FOR RESIDENTS IN STANLY COUNTY. STUDENTS AIDED 20 FAMILIES IN THIS SERVICE PROJECT. OTHER AREAS OF CAMPUS ALSO PROVIDE SERVICE. FOR INSTANCE, ALL THE FIRST-YEAR SEMINARS DO A SERVICE PROJECT IN THE FALL SEMESTER. LAST YEAR, SERVICE PROJECTS INCLUDED WORKING WITH ANGEL TREE, THE HUMANE SOCIETY, AND CAMPUS CLEAN-UPS.
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