Civic Intelligence

Shorter University Inc.

990 • Fiscal year 2023 • EIN 58-2624570

Jun 01, 2022 to May 31, 2023 • Filed on Mar 12, 2024

315 Shorter AvenueRome, GA 30165-4267

(706) 291-2121

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.29x

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

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

Liabilities / Revenue

53rd percentile

0.43x

Higher debt load relative to revenue than 53% of similar nonprofits.

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

Net Margin

55th percentile

4.6%

Higher net margin than 55% of similar nonprofits.

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

Top Officer Pay

22nd percentile

$208,229

Higher top officer pay than 22% of similar nonprofits.

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

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

Asset Growth

39th percentile

3.4%

Faster asset growth than 39% of similar nonprofits.

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

Revenue Growth

37th percentile

-0.9%

Faster revenue growth than 37% of similar nonprofits.

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

Assets

Flat

$59,136,687

Flat from 2023

Net Assets

Flat

$42,239,506

Flat from 2023

Liabilities

Flat

$16,897,181

Flat from 2023

Revenue

Flat

$39,445,998

Flat from 2023

Expenses

Flat

$37,633,728

Flat from 2023

Net Income

Flat

$1,812,270

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $61,344,657Liabilities 2011: $14,955,638Net Assets 2011: $46,389,0192011Assets 2012: $63,328,537Liabilities 2012: $18,924,485Net Assets 2012: $44,404,0522012Assets 2013: $66,695,433Liabilities 2013: $21,136,035Net Assets 2013: $45,559,3982013Assets 2014: $71,282,440Liabilities 2014: $23,543,696Net Assets 2014: $47,738,7442014Assets 2015: $64,241,803Liabilities 2015: $23,199,489Net Assets 2015: $41,042,3142015Assets 2016: $63,452,539Liabilities 2016: $22,457,746Net Assets 2016: $40,994,7932016Assets 2017: $62,620,590Liabilities 2017: $23,899,667Net Assets 2017: $38,720,9232017Assets 2018: $60,294,612Liabilities 2018: $22,592,381Net Assets 2018: $37,702,2312018Assets 2019: $57,979,928Liabilities 2019: $21,928,830Net Assets 2019: $36,051,0982019Assets 2020: $59,873,616Liabilities 2020: $22,253,336Net Assets 2020: $37,620,2802020Assets 2021: $57,466,893Liabilities 2021: $17,787,556Net Assets 2021: $39,679,3372021Assets 2022: $57,209,537Liabilities 2022: $16,766,341Net Assets 2022: $40,443,1962022Assets 2023: $59,136,687Liabilities 2023: $16,897,181Net Assets 2023: $42,239,5062023Assets 2023: $59,136,687Liabilities 2023: $16,897,181Net Assets 2023: $42,239,5062023

Highlighted filing

2023

Assets$59,136,687
Liabilities$16,897,181
Net Assets$42,239,506

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2011: $48,603,4602011Expenses 2012: $55,575,4832012Revenue 2013: $50,010,425Expenses 2013: $50,737,011Net Income 2013: -$726,5862013Revenue 2014: $49,807,148Expenses 2014: $49,293,900Net Income 2014: $513,2482014Revenue 2015: $43,925,154Expenses 2015: $50,206,094Net Income 2015: -$6,280,9402015Revenue 2016: $45,832,760Expenses 2016: $44,815,011Net Income 2016: $1,017,7492016Revenue 2017: $41,599,968Expenses 2017: $43,964,986Net Income 2017: -$2,365,0182017Revenue 2018: $36,212,480Expenses 2018: $37,849,491Net Income 2018: -$1,637,0112018Revenue 2019: $35,664,531Expenses 2019: $35,695,656Net Income 2019: -$31,1252019Revenue 2020: $36,729,034Expenses 2020: $35,072,790Net Income 2020: $1,656,2442020Revenue 2021: $36,131,967Expenses 2021: $34,630,448Net Income 2021: $1,501,5192021Revenue 2022: $39,807,545Expenses 2022: $38,857,941Net Income 2022: $949,6042022Revenue 2023: $39,445,998Expenses 2023: $37,633,728Net Income 2023: $1,812,2702023Revenue 2023: $39,445,998Expenses 2023: $37,633,728Net Income 2023: $1,812,2702023

Highlighted filing

2023

Revenue$39,445,998
Expenses$37,633,728
Net Income$1,812,270
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Mar 12, 2024
Return Version
2022v5.0
Gross Receipts
$39,753,684
Mission and Program Overview

Mission

Advancing god's kingdom through a commitment to academic excellence, spiritual growth, christian leadership, and global service within the context of a biblical worldview.

Shorter University is a private Christian non-profit comprehensive liberal arts institution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,740,223$33,994,488▲ $1,254,265
Investments in Publicly Traded Securities$15,686,694$15,838,238▲ $151,544
Cash and Non-Interest-Bearing Accounts$5,323,311$5,712,087▲ $388,776
Investments Other Securities$1,627,202$1,594,272▼ $32,930
Investments Program Related$898,860$895,239▼ $3,621
Prepaid Expenses and Deferred Charges$255,175$406,318▲ $151,143
Accounts Receivable$174,430$287,868▲ $113,438
Inventories for Sale or Use$44,970$49,387▲ $4,417
Pledges and Grants Receivable$89,736$1,256▼ $88,480
Savings and Temporary Cash Investments$12,690$19▼ $12,671
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Loans From Officers Directors-$0-
Total Assets$57,209,537$59,136,687▲ $1,927,150
Other Assets Total$356,246$357,515▲ $1,269
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,763,171$13,763,171→ $0
Other Liabilities$1,517,950$1,505,634▼ $12,316
Accounts Payable and Accrued Expenses$954,666$1,232,087▲ $277,421
Deferred Revenue$530,554$396,289▼ $134,265
Total Liabilities$16,766,341$16,897,181▲ $130,840
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,703,070$27,819,452▲ $2,116,382
Net Assets With Donor Restrictions$14,740,126$14,420,054▼ $320,072
Total Net Assets Fund Balance$40,443,196$42,239,506▲ $1,796,310
Total Liabilities and Net Assets / Fund Balance$57,209,537$59,136,687▲ $1,927,150

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$26,978,429$18,168,068$45,146,497
Equipment$3,540,452$13,691,279$17,231,731
Land$2,530,127-$2,520,127
Leasehold Improvements$683,761$1,431,829$2,115,590
Other Land Buildings$261,719-$261,719

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$10,090,689$67,800▲ $214,441-$9,687,130
2021$10,457,066$105,420▲ $195,803-$10,090,689
2020$10,599,448$141,275▲ $373,143-$10,457,066
2019$11,027,804$24,041▲ $230,591-$10,599,448
2018$13,511,208$543,163▲ $420,277$2,846,844$11,027,804
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-PresidentFT$177,000$31,229$208,229
-ProvostFT$100,322$29,315$129,637
-VP of Finance, CFOFT$113,403$11,888$125,291
-VP of AdvancementFT$104,244$8,163$112,407

Board Members and Trustees

NameTitle
-Board Chair (part year)
-Chair of Finance
-Chairman
-Board Vice-Chair
-Trustee
-Trustee (part year)
-Ex Officio Member
-Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Smith ConstructionConstruction/Renovation144 W Main St, Kingston, GA 30145$1,050,620
Technical & Scientific ApplicationPurchased Computers/Wi-Fi Upgrades1283 Kennestone Circle STE 100, Marietta, GA 30066$907,087
Stephens & McRaeHvac25 Juniper Ct Ste E, Covington, GA 30016$325,764
Advanced Facilities Services IncGround and Building Maintenance1165 S Post Oak Court, Springfield, MO 65809$323,357
JenzabarDatabase ServicePO Box 55018, Boston, MA 02205-5018$306,854
Revenue and Support

Revenue Composition

Contributions and Grants
$6,681,008
Program Service Revenue
$32,532,561
Investment Income
$256,695
Other Revenue
$-24,266
All Other Contributions
$2,271,926
Change in Net Assets
$1,812,270

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table13$126,639Cost
Other Non Cash Contri Table13$10,844Cost
Other Non Cash Contri Table11$9,015Other - Appraisal
Total Noncash Contributions37$146,498-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,886,834
Revenue Not Reported on Financial Statements
$13,559,164
Revenue Not Reported on Form 990
$122,908
Other Revenue Adjustments
$13,557,172
Total Revenue per Audited Statements
$26,009,742
Total Revenue per Form 990
$39,445,998
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$14,021,143
Salaries, Compensation, and Employee Benefits$12,955,361
Other Expenses$10,657,224
Total Fundraising Expense$302,717
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$14,021,143--$14,021,143
Other Salaries and Wages$9,151,643$1,303,562$179,383$10,634,588
All Other Expenses$1,271,514$1,511,655$5,142$2,788,311
Fees for Services Other$816,863$673,112$30,000$1,519,975
Depreciation Depletion$921,024$275,111$0$1,196,135
Occupancy$93,845$1,054,597$0$1,148,442
Other Employee Benefits$972,532$138,528$19,063$1,130,123
Insurance$509,824$275,980$0$785,804
Conferences and Meetings$623,645$107,062$27,934$758,641
Payroll Taxes$636,999$105,483$14,770$757,252
Travel$635,400$4,346$853$640,599
Information Technology$0$490,185$0$490,185
Interest$365,324$109,123$0$474,447
Other Expenses$57,229$354,474$0$411,703
Current Officers, Directors, Trustees, and Key Employees$0$317,674$17,598$335,272
Fees for Service Investment Mgmnt Fees$0$219,475-$219,475
Fees for Services Accounting$0$121,476$0$121,476
Comp Disqual Persons-$98,126-$98,126
Fees for Services Legal$0$71,900$0$71,900
Office Expenses$10,450$11,707$7,974$30,131
Total Functional Expenses$30,087,435$7,243,576$302,717$37,633,728

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$37,633,728
Total Expenses per Audited Statements$24,213,432
Expenses per Audited Statements$24,107,494
Expenses Not Reported on Financial Statements$13,526,234
Other Expense Adjustments$13,524,242
Expenses Not Reported on Form 990$105,938
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$51,538
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
President's Gala$204,968$0$51,538$-51,538
Event 2-$0-$0
Total Events$204,968$0$51,538$-51,538
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable$792,193
Refundable Advances from Federal Government$713,441
Conditional Asset Retirement Obligation-
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A Delegate broad authority to A committee

The governing body delegates broad authority to an Executive Committee consisting of the Chair, the Vice Chair, and Secretary of the Board of Trustees, the Chair of the Finance and Investment Committee, and three other board of trustees members elected by the board of trustees at the annual meeting. The Executive Committee has full power and authority to act and to transact any business for and on behalf of the University and in the place of the board of trustees during the interim between meetings of the board of trustees.

Form 990, Part VI, Line 6 Classes of members or stockholders

The Baptist Convention of the State of Georgia is the University's sole member.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

All trustees shall be elected by the member, including those elected to fill any vacancy on the board of trustees.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

All trustees are elected by the member and the member has the right to vote on any proposal of dissolution.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Form 990 is prepared by an independent CPA firm and is reviewed by the VP of Finance, CFO. The reviewed Form 990 is then provided to the board of trustees prior to filing with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

The University requires employees, the board of trustees, and officers to annually sign a conflict-of-interest statements disclosing any conflicts of interest. The administrative assistant to the President reviews the statements and gives any statements indicating a conflict to the President; the President discloses the conflict to the head of the board; the board or a committee determines whether an actual conflict exists. If a conflict of interest arises at a board meeting, the board member is prohibited from voting on or discussing any matter in which they have a conflict.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The independent Compensation Committee approves the President's compensation annually. The University consults with an independent consultant and a compensation comparability study is conducted every five years. The deliberation and decision are documented in the committee minutes.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

Independent members of the board of trustees approve the annual budget which includes compensation for other officers. Similar 990s are reviewed and the salary approval forms are reviewed and signed by the President. These signed forms are kept in the individual's employment file.

Form 990, Part VI, Line 19 Required documents available to the public

The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Shorter University
EIN
58-2624570
Phone
7062912121
Address
315 Shorter Avenue, Rome, GA 30165-4267

Signing Officer

Name
Dr Donald V Dowless
Title
President
Phone
7062912121
Signed
2024-03-12
Discuss with paid preparer
Yes

Organization Details

Formed
1873
Legal Domicile
Ga
Voting Board Members
30
Independent Board Members
30
Employees
483
Volunteers
40

Preparer

Firm
Capin Crouse LLP
Address
1255 Lakes Parkway Suite 105, Lawrenceville, GA 30043
Preparer
Daren Daiga
Phone
5055022746
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Change in Value of Split Interest Agreements - -32930;

Financial Statement Notes

Schedule D, Part III, Line 4 Collections of art - description of collections

Collection items consist of artwork, artifacts, and exotic taxidermy donated to the University, which are on display in various locations on the campus.

Schedule D, Part V, Line 4 Intended uses of endowment funds

The majority of Shorter University's endowment intends to provide scholarships to students with a small amount restricted for professorships.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Fundraising Event Expenses - 51538

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Student Financial Aid netted with revenue on financial statement - 13524242 Change in Value of Split Interest Agreements - 32930

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Fundraising Event Expenses - 51538

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Student Financial Aid netted with revenue on financial statement - 13524242

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$59.1$16.9$42.2$39.4$37.6$1.81
2023Summary only. Only limited summary data is available for this year.$59.1$16.9$42.2$39.4$37.6$1.81
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.2$16.8$40.4$39.8$38.9$0.95
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.5$17.8$39.7$36.1$34.6$1.50
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.9$22.3$37.6$36.7$35.1$1.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.0$21.9$36.1$35.7$35.7$0.03
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.3$22.6$37.7$36.2$37.8$1.64
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.6$23.9$38.7$41.6$44.0$2.37
2016Detailed filing. Detailed filing data is available for this year.$63.5$22.5$41.0$45.8$44.8$1.02
2015Detailed filing. Detailed filing data is available for this year.$64.2$23.2$41.0$43.9$50.2$6.28
2014Detailed filing. Detailed filing data is available for this year.$71.3$23.5$47.7$49.8$49.3$0.51
2013Summary only. Only limited summary data is available for this year.$66.7$21.1$45.6$50.0$50.7$0.73
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.3$18.9$44.4$55.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$61.3$15.0$46.4$48.6