Civic Intelligence

Bethune-Cookman University

990 • Fiscal year 2018 • EIN 59-0704726

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

Refreshing map…

640 Dr Mary Mcleod Bethune BlvdDaytona Beach, FL 32114

(386) 431-2031

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.59x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

76th percentile

1.20x

Higher debt load relative to revenue than 76% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

12th percentile

-9.5%

Higher net margin than 12% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

36th percentile

$373,140

Higher top officer pay than 36% of similar nonprofits.

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

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

17th percentile

-4.0%

Faster asset growth than 17% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

5.0%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Down

$212,581,574

Down $8,885,875 (-4.0%) from 2017

Net Assets

Down

$87,141,745

Down $8,282,403 (-8.7%) from 2017

Liabilities

Down

$125,439,829

Down $603,472 (-0.5%) from 2017

Revenue

Up

$104,904,074

Up $5,012,386 (+5.0%) from 2017

Expenses

Up

$114,829,386

Up $5,122,370 (+4.7%) from 2017

Net Income

Down

-$9,925,312

Down $109,984 (-1.1%) from 2017

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $130,714,982Liabilities 2010: $30,496,009Net Assets 2010: $100,218,9732010Assets 2011: $144,444,250Liabilities 2011: $32,984,991Net Assets 2011: $111,459,2592011Assets 2012: $147,079,381Liabilities 2012: $32,928,208Net Assets 2012: $114,151,1732012Assets 2013: $148,689,074Liabilities 2013: $32,484,225Net Assets 2013: $116,204,8492013Assets 2014: $149,114,468Liabilities 2014: $29,106,649Net Assets 2014: $120,007,8192014Assets 2015: $149,522,073Liabilities 2015: $31,084,583Net Assets 2015: $118,437,4902015Assets 2016: $225,624,794Liabilities 2016: $124,422,649Net Assets 2016: $101,202,1452016Assets 2017: $221,467,449Liabilities 2017: $126,043,301Net Assets 2017: $95,424,1482017Assets 2018: $212,581,574Liabilities 2018: $125,439,829Net Assets 2018: $87,141,7452018Assets 2019: $197,586,158Liabilities 2019: $119,512,833Net Assets 2019: $78,073,3252019Assets 2020: $191,000,240Liabilities 2020: $116,418,459Net Assets 2020: $74,581,7812020Assets 2021: $214,110,723Liabilities 2021: $99,396,843Net Assets 2021: $114,713,8802021Assets 2022: $228,821,796Liabilities 2022: $101,388,414Net Assets 2022: $127,433,3822022Assets 2023: $231,294,562Liabilities 2023: $103,564,021Net Assets 2023: $127,730,5412023Assets 2024: $227,841,850Liabilities 2024: $99,896,282Net Assets 2024: $127,945,5682024

Highlighted filing

2018

Assets$212,581,574
Liabilities$125,439,829
Net Assets$87,141,745

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $72,732,0572010Revenue 2011: $81,048,438Expenses 2011: $76,918,405Net Income 2011: $4,130,0332011Expenses 2012: $77,822,9842012Expenses 2013: $84,398,9762013Revenue 2014: $91,956,479Expenses 2014: $92,210,821Net Income 2014: -$254,3422014Revenue 2015: $95,487,975Expenses 2015: $97,058,304Net Income 2015: -$1,570,3292015Revenue 2016: $91,678,508Expenses 2016: $109,523,720Net Income 2016: -$17,845,2122016Revenue 2017: $99,891,688Expenses 2017: $109,707,016Net Income 2017: -$9,815,3282017Revenue 2018: $104,904,074Expenses 2018: $114,829,386Net Income 2018: -$9,925,3122018Revenue 2019: $101,238,403Expenses 2019: $108,566,171Net Income 2019: -$7,327,7682019Revenue 2020: $94,666,198Expenses 2020: $95,542,033Net Income 2020: -$875,8352020Revenue 2021: $117,726,569Expenses 2021: $81,450,465Net Income 2021: $36,276,1042021Revenue 2022: $130,685,909Expenses 2022: $111,603,409Net Income 2022: $19,082,5002022Revenue 2023: $102,222,024Expenses 2023: $102,226,385Net Income 2023: -$4,3612023Revenue 2024: $100,202,224Expenses 2024: $104,936,561Net Income 2024: -$4,734,3372024

Highlighted filing

2018

Revenue$104,904,074
Expenses$114,829,386
Net Income-$9,925,312
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$104,904,074
Mission and Program Overview

Mission

To serve the educational, social, and cultural needs of its students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$156,148,569$153,698,203▼ $2,450,366
Investments Other Securities$42,323,284$41,588,578▼ $734,706
Accounts Receivable$7,417,196$7,132,317▼ $284,879
Pledges and Grants Receivable$2,688,436$4,744,590▲ $2,056,154
Cash and Non-Interest-Bearing Accounts$7,113,648$2,681,483▼ $4,432,165
Savings and Temporary Cash Investments$3,595,505$2,309,867▼ $1,285,638
Prepaid Expenses and Deferred Charges$172,118$120,143▼ $51,975
Total Assets$221,467,449$212,581,574▼ $8,885,875
Other Assets Total$2,008,693$306,393▼ $1,702,300
Liabilities
Mortgage Notes Payable Secured by Investment Property$90,568,006$87,605,946▼ $2,962,060
Tax Exempt Bond Liabilities$19,230,000$18,390,000▼ $840,000
Accounts Payable and Accrued Expenses$9,162,883$11,771,338▲ $2,608,455
Other Liabilities$7,082,412$7,672,545▲ $590,133
Total Liabilities$126,043,301$125,439,829▼ $603,472
Net Assets / Fund Balance
Unrestricted Net Assets$61,620,916$51,778,713▼ $9,842,203
Temporarily Rstr Net Assets$22,887,719$24,260,759▲ $1,373,040
Permanently Rstr Net Assets$10,915,513$11,102,273▲ $186,760
Total Net Assets Fund Balance$95,424,148$87,141,745▼ $8,282,403
Total Liabilities and Net Assets / Fund Balance$221,467,449$212,581,574▼ $8,885,875

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$135,031,256$59,392,099$194,423,355
Equipment$7,876,598$13,744,555$21,621,153
Land$9,106,883-$9,106,883
Other Land Buildings$1,683,466-$1,683,466
Other Securities$504,027--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$42,301,084$496,285▲ $2,261,463$3,407,893$41,566,015
2016$47,758,297$284,502▲ $5,540,323$11,168,253$42,301,084
2015$54,718,740$109,859▼ $1,359,662$5,600,958$47,758,297
2014$53,625,477$228,743▲ $1,063,792-$54,718,740
2013$46,689,391$432,533▲ $7,076,392$20,300$53,625,477
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Edison O JacksonPresident (former)FT$336,458$36,682$373,140
Lynn W ThompsonVice President (athletics)FT$289,129$36,145$325,274
Angela PooleVice President (chief Financial Officer)FT$230,000$18,301$248,301
Angela PooleVice President (chief Financial Offi-$230,000$18,301$248,301
Hakim J LucasVice President (institutional Advancement)FT$235,000$5,604$240,604
Hakim J LucasVice President (institutional Advanc-$235,000$5,604$240,604
Hubert GrimesPresidentFT$210,833$21,453$232,286
Helena Mariella-walrondVice President (provost)FT$200,000$21,845$221,845
Albert D MosleyVice President (senior)FT$202,083$7,381$209,464
Terry E SimsHead CoachFT$198,608-$198,608
Donovan V WellsDirectorFT$188,771-$188,771
Nan Fisher WilliamsVice President (hr)FT$170,000$13,038$183,038
Franklin E PattersonVice President (chief Information Officer)FT$170,000$8,415$178,415
Franklin E PattersonVice President (chief Information of-$170,000$8,415$178,415
Vanessa M LewisCoachFT$176,917-$176,917
Jason E GlennVice President (student Services)FT$163,333$116$163,449
Deanna WathingtonExecutive DeanFT$157,535-$157,535

Board Members and Trustees

NameTitle
Dr Jacob F Bryan IvChair,trustee/chair-committee on Student Life
Dr Michelle Carter-scottChairperson of the Board
Dr Joe PetrockImmediate Past Chair
Dr Kent SharplesTrustee/chair, Committee on Ed. Policies
Linda F Wells EsqTrustee/chair, Committee on Ed. Policies
Nancy LohmanTrustee/chair, Committee on Inst. Advancement
Rafael a Ramirez JrTrustee/chair, Committee on Nom. & Gov.
Gregorio a FrancisTrustee/chair, Sub-committee on Legal Affairs
The Honorable Dr Joyce CusackTrustee/chair, Sub-committee on Legal Affairs
Michael D WalshTrustee/chair,committee on Finance
Rufus L WilsonTrustee/chair,sub-committee on Buildings & Grounds
Wayne a DavisTrustee/chair-committee on Student Life
Jennifer L AdamsAlumni Association President
Rev Thom Shafer1st Vice Chair
Bishop Dr Kenneth H Carter Jr2nd. Vice Chair
Belvin Perry Jr Esq3rd. Vice Chair
A Ray BinsonTrustee
Dr Gary SpencerTrustee
Dr La-doris McclaneyTrustee
Joyce Anne Hanks Moorehead EsqTrustee
M Decker Youngman CpcuTrustee
Matthew L BrownTrustee
Nelson L Adams MdTrustee
Paulette MonroeTrustee
Rev Catherine Fluck PriceTrustee
Alexis PughTrustee Emeritus
Burney Bivens EsqTrustee Emeritus
Dorothye HendersonTrustee Emeritus
Dr Irving J MatthewsTrustee Emeritus
Dr L Gale LemerandTrustee Emeritus
Dr Lee E RhyantTrustee Emeritus
Dr Patrick David RobertsTrustee Emeritus
F Michael KyleTrustee Emeritus
Judge Prince CartwrightTrustee Emeritus
Lee BryanTrustee Emeritus
Michael P JohnsonTrustee Emeritus
Rev Dr Eugene ZimmermanTrustee Emeritus
Rev Dr John Wesley HarringtonTrustee Emeritus
Rev Dr Mccoy GibbsTrustee Emeritus
Rev Dr William S BarnesTrustee Emeritus
Rev Hilton O SmithTrustee Emeritus
William L BrownTrustee Emeritus
Michael ShorterTrustee/alumni Representative
Rev Annette Stiles PendergrassChaplain
Dr Jeffery HaynesFaculty Representative
John a Rogers JrParliamentarian
DR LUCILLE O'NEALSecretary
Keshon KindredStudent Representative

Highest Paid Contractors

ContractorServicesLocationCompensation
Pacesetter Personnel SvcTemporary LaborPOBOX 2324, Houston, TX 77252$930,659
J&s Enterprise - Nazra MelzerConstruction304 ALEATHA DRIVE, Daytona Beach, FL 32114$300,859
Moduform INCFurniturePO BOX 1562, Brattleboro, VT 05302$287,172
Bsn SportsAthletic UniformsPO BOX 660176, Dallas, TX 75366$225,464
Five Star Claims AdjustingInsurance Claims Adjuster1640 W OAKLAND PARK BLVD SUITE 2, Fort Lauderdale, FL 33311$183,799
Revenue and Support

Revenue Composition

Contributions and Grants
$18,114,753
Program Service Revenue
$84,190,946
Investment Income
$1,222,703
Other Revenue
$1,375,672
All Other Contributions
$18,114,753
Change in Net Assets
$-9,925,312

Audited Revenue Reconciliation

Revenue per Audited Statements
$104,904,074
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-17,655,050
Total Revenue per Audited Statements
$87,249,024
Total Revenue per Form 990
$104,904,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,931,410
Salaries, Compensation, and Employee Benefits$47,331,991
Grants and Similar Amounts Paid$19,565,985
Total Fundraising Expense$2,777,250
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$29,261,670$6,723,370$857,625$36,842,665
Grants to Domestic Individuals$19,271,729--$19,271,729
Occupancy$8,537,376$1,132,211$663,763$10,333,350
Interest$7,814,707$36,751-$7,851,458
Other Employee Benefits$4,549,020$1,846,524$189,388$6,584,932
Depreciation Depletion$5,208,054$578,673-$5,786,727
Fees for Services Other$1,940,605$3,410,767$384,880$5,736,252
Travel$3,233,559$696,369$127,926$4,057,854
Information Technology$390,873$3,102,538$23,722$3,517,133
Current Officers, Directors, Trustees, and Key Employees$1,099,294$1,343,379$302,333$2,745,006
Office Expenses$1,612,401$813,670$48,604$2,474,675
Advertising$1,235,660$65,702$139,865$1,441,227
Pension Plan Contributions$942,911$206,147$10,330$1,159,388
Grants to Domestic Orgs$294,256--$294,256
Other Expenses$35,995$670$8,726$36,665
Total Functional Expenses$91,770,679$20,281,457$2,777,250$114,829,386

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$114,829,386
Expenses per Audited Statements$97,091,227
Total Expenses per Audited Statements$97,091,227
Expenses Not Reported on Financial Statements$17,738,159
Other Expense Adjustments$17,738,159
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fifth Gait Technologies IncSanta Barbara, CA-Grant Pass Through$120,000
Eei Manufacturing ServicesClearwater, FL-Grant Pass Through$96,000
Kord Technologies IncHuntsville, AL-Grant Pass Through$60,000
University of South FloridaTampa, FL-Grant Pass Through$18,256
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
Deferred Lease Payments$7,351,073
Student Deposits$321,472

Bond Issues

BondIssuerIssuedIssue PricePurpose
AHigher Educ Facilities Financing Authority2010-11-16$23,825,000Finance capital improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,130,183-$5,435,000$456,662

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
Yes
Corrective action procedures
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
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

The form 990 is made available to the full board before filing. All board members who wished to review the return had an opportunity to do so. A copy of the return, as ultimately filed, is maintained by the chief financial officer and is available for inspection by board members upon request.

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

Every year all board members are required to reaffirm in writing their compliance with the conflict of interest policy and to report any potential conflicts.

Form 990, Part VI, Section B, Line 15

The compensation committee of the board of trustees determines compensation for the president and other top management based on performance and comparable data obtained from institutions of comparable size.

Form 990, Part VI, Section C, Line 19

Governing documents are available on sunbiz.org. Financial statements are available by request.

Filing and Contact Details

Filer

Filer Name
Bethune-cookman University
EIN
59-0704726
Phone
3864312031
Address
640 DR MARY MCLEOD BETHUNE BLVD, DAYTONA BEACH, FL 32114

Signing Officer

Name
John Pittman
Title
Chief Financial Officer
Phone
3864312031
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hubert L Grimes
Formed
1904
Legal Domicile
Fl
Voting Board Members
26
Independent Board Members
26
Employees
1,369
Volunteers
45

Preparer

Firm
Moore Stephens Lovelace Pa
Address
255 S ORANGE AVENUE SUITE 600, ORLANDO, FL 32801
Preparer
Norman B Neal CPA
Phone
4077405400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in temporarily restricted assets 1,373,040. Change in permanently restricted assets 186,760.

Form 990, Part XII, Line 2C

Oversight of audit and selection of independent accountant: the responsibility for oversight of the audit and selection of an independent accountant is assumed by the finance committee.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Scholarship allowance -17,738,161.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarship allowance 17,738,159.

Raw XML AppendixShowing 400 of 1,278 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/Desc0INSTRUCTION: BETHUNE-COOKMAN UNIVERSITY OFFERS BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES IN 37 MAJORS AREAS, THROUGH SIX MAJOR DIVISIONS; SCHOOL OF BUSINESS, EDUCATION, LIBERAL ARTS, HEALTH SCIENCES, SCIENCE/MATHEMATICS AND SOCIAL SCIENCES. THE UNIVERSITY ALSO OFFERS THREE MASTER'S DEGREE PROGRAMS.
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IRS990/Form990PartVIISectionAGrp/PersonNm18DR MICHELLE CARTER-SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm19DR PATRICK DAVID ROBERTS
IRS990/Form990PartVIISectionAGrp/PersonNm20F MICHAEL KYLE
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IRS990/Form990PartVIISectionAGrp/PersonNm31MICHAEL D WALSH
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$228$99.9$128$100$105$4.73
2023Summary only. Only limited summary data is available for this year.$231$104$128$102$102$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$229$101$127$131$112$19.1
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$214$99.4$115$118$81.5$36.3
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$116$74.6$94.7$95.5$0.88
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$198$120$78.1$101$109$7.33
2018Detailed filing. Detailed filing data is available for this year.$213$125$87.1$105$115$9.93
2017Summary only. Only limited summary data is available for this year.$221$126$95.4$99.9$110$9.82
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$226$124$101$91.7$110$17.8
2015Summary only. Only limited summary data is available for this year.$150$31.1$118$95.5$97.1$1.57
2014Detailed filing. Detailed filing data is available for this year.$149$29.1$120$92.0$92.2$0.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$149$32.5$116$84.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$147$32.9$114$77.8
2011Summary only. Only limited summary data is available for this year.$144$33.0$111$81.0$76.9$4.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$131$30.5$100$72.7
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $100M-$250M nonprofits