Civic Intelligence

Meredith College

990 • Fiscal year 2024 • EIN 56-0530242

Jul 01, 2023 to Jun 30, 2024 • Filed on Apr 17, 2025

Organization ProfileWWW.MEREDITH.EDU

View Organization Page

3800 Hillsborough StreetRaleigh, NC 27607

(919) 760-8600

Siviq Scores

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

Liabilities / Assets

51st percentile

0.26x

Higher debt load relative to assets than 51% of similar nonprofits.

2024 filings • NTEE B • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

52nd percentile

0.69x

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

2024 filings • NTEE B • $100M-$250M nonprofits • Source year 2024

Net Margin

21st percentile

-7.1%

Higher net margin than 21% of similar nonprofits.

2024 filings • NTEE B • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

57th percentile

$429,208

Higher top officer pay than 57% of similar nonprofits.

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

2024 filings • NTEE B • $100M-$250M nonprofits • Source year 2024

Asset Growth

44th percentile

3.3%

Faster asset growth than 44% of similar nonprofits.

2024 filings • NTEE B • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

20th percentile

-4.8%

Faster revenue growth than 20% of similar nonprofits.

2024 filings • NTEE B • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$219,986,295

Up $6,969,983 (+3.3%) from 2023

Net Assets

Up

$163,500,160

Up $8,761,613 (+5.7%) from 2023

Liabilities

Down

$56,486,135

Down $1,791,630 (-3.1%) from 2023

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin21st percentile

Revenue

Down

$81,759,597

Down $4,151,558 (-4.8%) from 2023

Expenses

Up

$87,593,795

Up $792,080 (+0.9%) from 2023

Net Income

Down

-$5,834,198

Down $4,943,638 (-555%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$300M$200M$100M$0Assets 2011: $162,022,760Liabilities 2011: $75,429,757Net Assets 2011: $86,593,0032011Assets 2012: $154,386,504Liabilities 2012: $73,386,957Net Assets 2012: $80,999,5472012Assets 2013: $160,103,513Liabilities 2013: $71,270,107Net Assets 2013: $88,833,4062013Assets 2014: $173,549,988Liabilities 2014: $70,565,922Net Assets 2014: $102,984,0662014Assets 2015: $176,423,051Liabilities 2015: $69,525,262Net Assets 2015: $106,897,7892015Assets 2016: $180,314,153Liabilities 2016: $70,320,048Net Assets 2016: $109,994,1052016Assets 2017: $191,718,614Liabilities 2017: $67,392,549Net Assets 2017: $124,326,0652017Assets 2018: $198,555,048Liabilities 2018: $67,428,779Net Assets 2018: $131,126,2692018Assets 2019: $196,924,752Liabilities 2019: $66,096,848Net Assets 2019: $130,827,9042019Assets 2020: $201,286,177Liabilities 2020: $66,371,201Net Assets 2020: $134,914,9762020Assets 2021: $230,208,683Liabilities 2021: $66,373,538Net Assets 2021: $163,835,1452021Assets 2022: $208,277,395Liabilities 2022: $62,066,423Net Assets 2022: $146,210,9722022Assets 2023: $213,016,312Liabilities 2023: $58,277,765Net Assets 2023: $154,738,5472023Assets 2024: $219,986,295Liabilities 2024: $56,486,135Net Assets 2024: $163,500,1602024

Highlighted filing

2024

Assets$219,986,295
Liabilities$56,486,135
Net Assets$163,500,160
Open 2024 Filing

Operations Trend

Revenue Growth20th percentile

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

$100M$50M$0-$50MExpenses 2011: $63,671,1242011Expenses 2012: $64,714,7762012Revenue 2013: $68,533,838Expenses 2013: $65,086,782Net Income 2013: $3,447,0562013Revenue 2014: $73,708,156Expenses 2014: $67,796,355Net Income 2014: $5,911,8012014Revenue 2015: $77,690,331Expenses 2015: $70,948,016Net Income 2015: $6,742,3152015Revenue 2016: $86,643,666Expenses 2016: $75,929,114Net Income 2016: $10,714,5522016Revenue 2017: $90,954,141Expenses 2017: $80,650,892Net Income 2017: $10,303,2492017Revenue 2018: $90,375,443Expenses 2018: $84,744,424Net Income 2018: $5,631,0192018Revenue 2019: $86,189,129Expenses 2019: $85,178,284Net Income 2019: $1,010,8452019Revenue 2020: $93,061,323Expenses 2020: $86,188,414Net Income 2020: $6,872,9092020Revenue 2021: $88,552,953Expenses 2021: $86,010,167Net Income 2021: $2,542,7862021Revenue 2022: $93,593,801Expenses 2022: $89,348,298Net Income 2022: $4,245,5032022Revenue 2023: $85,911,155Expenses 2023: $86,801,715Net Income 2023: -$890,5602023Revenue 2024: $81,759,597Expenses 2024: $87,593,795Net Income 2024: -$5,834,1982024

Highlighted filing

2024

Revenue$81,759,597
Expenses$87,593,795
Net Income-$5,834,198
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 17, 2025
Return Version
2023v6.0
Gross Receipts
$170,870,486
Mission and Program Overview

Mission

Meredith college, grounded in the liberal arts and committed to professional preparation, educates and inspires students to live with integrity and provide leadership for the needs, opportunities and challenges of society.

Founded in 1891, meredith is one of the largest women's colleges in the southeast. Meredith offers comprehensive liberal arts and professional studies for undergraduate women. At the graduate level, meredith offers co-educational mba, m.a.t., m.ed., m.s. In nutrition, m.a. In i-o psychology, m.a. In biomedical sciences, and m.a. In criminal justice programs. Post-baccalaureate certificate programs include criminal justice, digital media, dietetics, paralegal, and pre-health.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$86,854,196$92,926,598▲ $6,072,402
Land, Buildings, and Equipment, Net$59,390,016$58,694,725▼ $695,291
Investments Other Securities$42,438,067$44,261,516▲ $1,823,449
Savings and Temporary Cash Investments$17,734,424$16,183,848▼ $1,550,576
Pledges and Grants Receivable$4,426,758$5,398,094▲ $971,336
Accounts Receivable$1,210,908$940,356▼ $270,552
Prepaid Expenses and Deferred Charges$386,497$399,815▲ $13,318
Inventories for Sale or Use$161,189$162,909▲ $1,720
Cash and Non-Interest-Bearing Accounts$1,300$1,300→ $0
Total Assets$213,016,312$219,986,295▲ $6,969,983
Other Assets Total$412,957$1,017,134▲ $604,177
Liabilities
Tax Exempt Bond Liabilities$40,559,674$38,710,691▼ $1,848,983
Other Liabilities$10,339,376$10,348,736▲ $9,360
Accounts Payable and Accrued Expenses$3,646,203$4,059,166▲ $412,963
Unsecured Notes Loans Payable$2,625,000$2,525,000▼ $100,000
Deferred Revenue$943,667$777,459▼ $166,208
Escrow Account Liability$163,845$65,083▼ $98,762
Total Liabilities$58,277,765$56,486,135▼ $1,791,630
Net Assets / Fund Balance
Net Assets With Donor Restrictions$130,158,399$140,570,791▲ $10,412,392
Net Assets Without Donor Restrictions$24,580,148$22,929,369▼ $1,650,779
Total Net Assets Fund Balance$154,738,547$163,500,160▲ $8,761,613
Total Liabilities and Net Assets / Fund Balance$213,016,312$219,986,295▲ $6,969,983

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$54,168,769$87,930,181$142,098,950
Equipment$1,831,634$15,239,491$17,071,125
Other Land Buildings$2,218,488-$2,218,488
Land$475,834-$350,034
Other Securities$3,643,278--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$130,100,558$2,699,704▲ $15,008,655$2,784,340$138,962,671
2022$124,715,059$3,459,992▲ $10,461,819$3,156,022$130,100,558
2021$144,589,705$3,976,439▼ $15,829,789$3,952,756$124,715,059
2020$115,101,611$1,671,535▲ $32,641,867$2,052,709$144,589,705
2019$115,701,677$3,751,027▲ $3,029,648$4,851,157$115,101,611
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Jo AllenPresidentFT$378,931$50,277$429,208
Tammi JacksonVP for Bus/finFT$201,213$20,176$221,389
N Jean JacksonVP College ProgamsFT$187,203$28,068$215,271
Kimberly BurkeDeanFT$185,181$22,237$207,418
Charles BartonVP Inst AdvFT$186,205$20,983$207,188
Matthew PoslusnySenior VP & ProvostFT$182,263$21,576$203,839
Elizabeth WolfingerDeanFT$149,911$10,954$160,865
Bing YuProfessorFT$141,841$16,818$158,659
Jeff LangenderferProfessorFT$140,247$17,538$157,785
K Eaves MclennanVP Marketing/communicationFT$135,091$16,739$151,830
Pamela GallowayDirector of HrFT$139,281$8,141$147,422

Board Members and Trustees

NameTitle
Charles RoyalChairman
Ella FrantzVice Chairman
Adrienne ColeTrustee
Alma Ammons HoffmannTrustee
Andrea Oakley FoxTrustee
Ann LoweryTrustee
Bill CrouchTrustee
Brenda HughesTrustee
Carol MilanoTrustee
Carol TillmanTrustee
Chris RolfeTrustee
Christie BarbeeTrustee
Chuck StuberTrustee
Claire SlaughterTrustee
David Branch JrTrustee
David WilliamsTrustee
Deborah Stanley McneillTrustee
Donna ThagardTrustee
Dr David WarrenTrustee
Dr Lee CanipeTrustee
Dr Yvette BrownTrustee
Fran TeterTrustee
Harrison MarshallTrustee
James GaynorTrustee
Jena GallagherTrustee
Jenn MannTrustee
Jo CooperTrustee
Lena Epps BrookerTrustee
Leslie HayesTrustee
Nancy SiskaTrustee
Patricia JohnsonTrustee
Patty CeaseTrustee
Quintala ParhamTrustee
Richard UrquhartTrustee
Silda Wall SpitzerTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark CorporationDining And Facilities Mgmt.27310 NETWORK PLACE, Chicago, IL 60673$2,762,981
Visionpoint MarketingDigital Advertising & Recruitment150 FAYETTEVILLE ST STE 300, Raleigh, NC 27601$515,018
MercerInvestment Management100 N TRYON ST STE 3600, Charlotte, NC 28202$365,541
EllucianErm2003 EDMUND HALLEY DR, Reston, VA 20191$359,357
Womble Bond DickinsonLegalPO BOX 84, Winstonsalem, NC 27102$227,692
Revenue and Support

Revenue Composition

Contributions and Grants
$11,190,491
Program Service Revenue
$69,522,292
Investment Income
$1,046,814
Other Revenue
$0
All Other Contributions
$10,604,025
Change in Net Assets
$-5,834,198

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 Traded11$183,768Fair Market Value (FMV)
Total Noncash Contributions11$183,768-

Audited Revenue Reconciliation

Revenue per Audited Statements
$81,177,871
Revenue Not Reported on Financial Statements
$581,726
Revenue Not Reported on Form 990
$-16,338,471
Total Revenue per Audited Statements
$64,839,400
Total Revenue per Form 990
$81,759,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$32,760,131
Grants and Similar Amounts Paid$30,939,428
Other Expenses$23,894,236
Total Fundraising Expense$2,278,100
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$30,939,428--$30,939,428
Other Salaries and Wages$19,318,622$4,301,262$1,252,910$24,872,794
All Other Expenses$1,696,780$2,035,685$277,439$4,009,904
Other Employee Benefits$2,493,740$737,462$201,223$3,432,425
Occupancy$2,785,677$177,809-$2,963,486
Depreciation Depletion$2,496,892$159,376-$2,656,268
Payroll Taxes$1,398,236$412,165$112,544$1,922,945
Interest$1,720,627$109,827-$1,830,454
Current Officers, Directors, Trustees, and Key Employees$419,109$802,426$207,188$1,428,723
Other Expenses$448,620$794,280$165$1,243,065
Pension Plan Contributions$840,849$202,605$59,790$1,103,244
Fees for Services Other$632,084$220,151-$852,235
Office Expenses$462,002$194,959$114,584$771,545
Fees for Service Investment Mgmnt Fees-$581,726-$581,726
Insurance$8,712$463,313-$472,025
Travel$296,327$29,154$52,257$377,738
Fees for Services Accounting-$152,045-$152,045
Information Technology$434--$434
Total Functional Expenses$73,623,834$11,691,861$2,278,100$87,593,795

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$87,593,795
Expenses per Audited Statements$56,077,787
Total Expenses per Audited Statements$56,077,787
Expenses Not Reported on Financial Statements$31,516,008
Other Expense Adjustments$30,934,282
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
1
Employees
1
Spending
$17,679,031

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsStudy Abroad00$16,321,140
EuropeProgram ServicesStudy Abroad11$1,242,018
Central America and the CaribbeanProgram Services-00$115,873
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
Accrued Postretirement Benefit Obligations$7,104,248
Asset Retirement Obligation$2,455,983
Operating Lease Liabilities$322,418
Due to Donors of Trusts$272,540
Student Deposits$193,547

Bond Issues

BondIssuerIssuedIssue PricePurpose
BNorth Carolina Capital Facilities Finance Agency2018-03-29$40,960,158SEE PART VI
ANorth Carolina Capital Facilities Finance Agency2016-09-29$8,826,029SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$41,026,605$40,429,813$8,020,000$596,792
A$8,926,117$8,749,596$1,080,000$176,521

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
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
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 A, Line 1A

“The executive committee of the board of trustees is made up of 8 to 10 members. The purpose of the committee is to serve at the pleasure of the board and have authority to act for the board on all matters except as otherwise provided by law and except for the following, which shall be reserved for the board: presidential selection and termination, trustee and board officer election, changes in institutional mission and purpose, incurring corporate indebtedness, sale of college assets, adoption of annual budget, and conferral of degrees or tenure.”

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

“The business and finance committee will review and approve the 990. For privacy purposes, the full board only receives a public disclosure copy of the 990 for their review prior to filing with the irs. However, the form 990 is available upon request.”

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

“The board affairs committee monitors the trustees' conflict of interest policy including distributing, collecting, and reviewing conflict of interest forms annually. In addition, the chair of the investment committee reviews conflict of interest forms for the members of that committee for any potential conflict specifically related to their role on that committee. In the event of a conflict, the individual involved would recuse themselves from any vote on the matter.”

Form 990, Part VI, Section B, Line 15

“The president's compensation is determined by the executive committee of the board of trustees, an independent body. The committee relies upon data from comparable colleges obtained by ncicu and from forms 990 of similarly situated colleges and universities. In addition, the committee also considers the results of the president's annual performance evaluation. The decision is documented in the minutes of the committee. The compensation of other officers and key employees is independently reviewed on every salary level. The college reviews salary data from various sources, such as cupa.”

Form 990, Part VI, Section C, Line 19

“The financial statements are available upon request. The conflict of interest policy and the governing documents are not available to the public.”

Filing and Contact Details

Filer

Filer Name
Meredith College
EIN
56-0530242
Phone
9197608600
Address
3800 HILLSBOROUGH STREET, RALEIGH, NC 27607

Signing Officer

Name
Dr Tammi D Jackson
Title
VP for Business & Finance
Phone
9197608600
Signed
2025-04-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Aimee Sapp
Formed
1891
Legal Domicile
Nc
Voting Board Members
35
Independent Board Members
35
Employees
1,123
Volunteers
35

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
3800 GLENWOOD AVE SUITE 200, RALEIGH, NC 27612
Preparer
Melanie Mcpeak
Phone
9197821040
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in postretirement benefit obligations -89,300.”

Financial Statement Notes

PART IV, LINE 2B:

“The college holds funds in a custodial capacity for student organizations.”

PART V, LINE 4:

“The college's endowment consists of approximately 584 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the board of trustees to function as endowments. The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure.”

PART X, LINE 2:

“The college's policy is to record a liability for unrecognized tax benefits, and any related interest and penalties, when it is more likely than not a tax position taken by management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of june 30, 2024 or 2023 and, accordingly, no liability has been accrued.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Change in postretirement benefit obligations -89,300. Institutional grants shown net of tuition on financials -30,934,282.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Institutional grants shown net of tuition on financials 30,934,282.”

Raw XML AppendixShowing 400 of 1,279 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/ActivityOrMissionDesc0FOUNDED IN 1891, MEREDITH IS ONE OF THE LARGEST WOMEN'S COLLEGES IN THE SOUTHEAST. MEREDITH OFFERS COMPREHENSIVE LIBERAL ARTS AND PROFESSIONAL STUDIES FOR UNDERGRADUATE WOMEN. AT THE GRADUATE LEVEL, MEREDITH OFFERS CO-EDUCATIONAL MBA, M.A.T., M.ED., M.S. IN NUTRITION, M.A. IN I-O PSYCHOLOGY, M.A. IN BIOMEDICAL SCIENCES, AND M.A. IN CRIMINAL JUSTICE PROGRAMS. POST-BACCALAUREATE CERTIFICATE PROGRAMS INCLUDE CRIMINAL JUSTICE, DIGITAL MEDIA, DIETETICS, PARALEGAL, AND PRE-HEALTH.
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IRS990/ContractorCompensationGrp/ServicesDesc1DIGITAL ADVERTISING & RECRUITMENT
IRS990/ContractorCompensationGrp/ServicesDesc2INVESTMENT MANAGEMENT
IRS990/ContractorCompensationGrp/ServicesDesc3ERM
IRS990/ContractorCompensationGrp/ServicesDesc4LEGAL
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IRS990/Desc0MEREDITH COLLEGE CHALLENGES STUDENTS TO DISCOVER WHAT MAKES THEM STRONG, BUILD ON THOSE STRENGTHS, AND PREPARE TO MAKE A POSITIVE IMPACT ON THE WORLD. WITH MORE THAN 90 MAJORS AND MINORS, OVER 30 GRADUATE AND CERTIFICATE PROGRAMS, AND STRONGPOINTS, A POWERFUL STRENGTHS-FOCUSED PERSONAL COACHING INITIATIVE, IT'S NO WONDER U.S. NEWS, THE PRINCETON REVIEW, AND NICHE HAVE ALL NAMED MEREDITH A "BEST COLLEGE."
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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$219,986,295
Liabilities
$56,486,135
Net assets
$163,500,160
Revenue
$81,759,597
Expenses
$87,593,795
Net income
-$5,834,198
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$220$56.5$164$81.8$87.6$5.83
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$213$58.3$155$85.9$86.8$0.89
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$208$62.1$146$93.6$89.3$4.25
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$230$66.4$164$88.6$86.0$2.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$201$66.4$135$93.1$86.2$6.87
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$197$66.1$131$86.2$85.2$1.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$199$67.4$131$90.4$84.7$5.63
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$192$67.4$124$91.0$80.7$10.3
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$180$70.3$110$86.6$75.9$10.7
2015Detailed filing. Detailed filing data is available for this year.$176$69.5$107$77.7$70.9$6.74
2014Detailed filing. Detailed filing data is available for this year.$174$70.6$103$73.7$67.8$5.91
2013Summary only. Only limited summary data is available for this year.$160$71.3$88.8$68.5$65.1$3.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$154$73.4$81.0$64.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$162$75.4$86.6$63.7