Civic Intelligence

Palm Beach Atlantic University Inc

EIN 59-1092732 • 501(c)3 • West Palm Beach, FL

Profile

The mission of palm beach atlantic university is to prepare students for lifelong learning and leadership by offering excellent undergraduate, graduate and professional programs of study in the arts, humanities, sciences and selected professions.

901 S Flagler DriveWest Palm Beach, FL 33401

www.pba.edu

Siviq Scores

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

Liabilities / Assets

56th percentile

0.34x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

0.89x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

16th percentile

-7.8%

Higher net margin than 16% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

47th percentile

$738,401

Higher top officer pay than 47% of similar nonprofits.

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

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

81st percentile

15%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-14%

Faster revenue growth than 11% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$358,293,038

Up $46,536,907 (+15%) from 2023

Liabilities

Up

$123,538,207

Up $49,442,438 (+67%) from 2023

Net Assets

Down

$234,754,831

Down $2,905,531 (-1.2%) from 2023

Revenue

Down

$138,472,309

Down $22,964,021 (-14%) from 2023

Expenses

Up

$149,222,950

Up $7,999,992 (+5.7%) from 2023

Net Income

Down

-$10,750,641

Down $30,964,013 (-153%) from 2023

Trend Graphs

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2010: $184,559,133Liabilities 2010: $52,272,786Net Assets 2010: $132,286,3472010Assets 2011: $193,881,010Liabilities 2011: $49,465,716Net Assets 2011: $144,415,2942011Assets 2012: $196,323,019Liabilities 2012: $53,990,676Net Assets 2012: $142,332,3432012Assets 2013: $202,964,281Liabilities 2013: $51,526,734Net Assets 2013: $151,437,5472013Assets 2014: $214,704,905Liabilities 2014: $51,149,770Net Assets 2014: $163,555,1352014Assets 2015: $217,649,725Liabilities 2015: $55,015,852Net Assets 2015: $162,633,8732015Assets 2016: $214,512,838Liabilities 2016: $52,019,336Net Assets 2016: $162,493,5022016Assets 2017: $218,876,299Liabilities 2017: $50,907,837Net Assets 2017: $167,968,4622017Assets 2018: $221,631,922Liabilities 2018: $47,048,480Net Assets 2018: $174,583,4422018Assets 2019: $219,345,774Liabilities 2019: $45,189,678Net Assets 2019: $174,156,0962019Assets 2020: $220,823,200Liabilities 2020: $49,445,510Net Assets 2020: $171,377,6902020Assets 2021: $243,912,659Liabilities 2021: $57,365,452Net Assets 2021: $186,547,2072021Assets 2022: $276,408,667Liabilities 2022: $66,058,413Net Assets 2022: $210,350,2542022Assets 2023: $311,756,131Liabilities 2023: $74,095,769Net Assets 2023: $237,660,3622023Assets 2024: $358,293,038Liabilities 2024: $123,538,207Net Assets 2024: $234,754,8312024

Highlighted filing

2024

Assets$358,293,038
Liabilities$123,538,207
Net Assets$234,754,831

Operations Trend

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

$200M$150M$100M$50M$0-$50MExpenses 2010: $79,837,2892010Expenses 2011: $83,899,6212011Expenses 2012: $85,121,5832012Expenses 2013: $89,136,7692013Revenue 2014: $105,198,462Expenses 2014: $95,950,532Net Income 2014: $9,247,9302014Revenue 2015: $102,880,444Expenses 2015: $101,896,904Net Income 2015: $983,5402015Revenue 2016: $108,465,569Expenses 2016: $105,677,373Net Income 2016: $2,788,1962016Revenue 2017: $108,626,105Expenses 2017: $108,430,709Net Income 2017: $195,3962017Revenue 2018: $119,320,652Expenses 2018: $111,520,097Net Income 2018: $7,800,5552018Revenue 2019: $112,532,514Expenses 2019: $115,643,637Net Income 2019: -$3,111,1232019Revenue 2020: $116,726,108Expenses 2020: $119,139,699Net Income 2020: -$2,413,5912020Revenue 2021: $119,213,584Expenses 2021: $118,783,963Net Income 2021: $429,6212021Revenue 2022: $154,657,206Expenses 2022: $127,072,588Net Income 2022: $27,584,6182022Revenue 2023: $161,436,330Expenses 2023: $141,222,958Net Income 2023: $20,213,3722023Revenue 2024: $138,472,309Expenses 2024: $149,222,950Net Income 2024: -$10,750,6412024

Highlighted filing

2024

Revenue$138,472,309
Expenses$149,222,950
Net Income-$10,750,641

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$358$124$235$138$149$10.8
2023Detailed filing. Detailed filing data is available for this year.$312$74.1$238$161$141$20.2
2022Detailed filing. Detailed filing data is available for this year.$276$66.1$210$155$127$27.6
2021Detailed filing. Detailed filing data is available for this year.$244$57.4$187$119$119$0.43
2020Detailed filing. Detailed filing data is available for this year.$221$49.4$171$117$119$2.41
2019Detailed filing. Detailed filing data is available for this year.$219$45.2$174$113$116$3.11
2018Detailed filing. Detailed filing data is available for this year.$222$47.0$175$119$112$7.80
2017Detailed filing. Detailed filing data is available for this year.$219$50.9$168$109$108$0.20
2016Detailed filing. Detailed filing data is available for this year.$215$52.0$162$108$106$2.79
2015Detailed filing. Detailed filing data is available for this year.$218$55.0$163$103$102$0.98
2014Detailed filing. Detailed filing data is available for this year.$215$51.1$164$105$96.0$9.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$203$51.5$151$89.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$196$54.0$142$85.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$194$49.5$144$83.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$185$52.3$132$79.8
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$138,631,891
Mission and Program Overview

Mission

The mission of palm beach atlantic university is to prepare students for lifelong learning and leadership by offering excellent undergraduate, graduate and professional programs of study in the arts, humanities, sciences and selected professions.

Pba is a private christian university offering undergraduate, graduate & professional programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$91,002,296$126,655,276▲ $35,652,980
Land, Buildings, and Equipment, Net$101,943,170$114,391,444▲ $12,448,274
Cash and Non-Interest-Bearing Accounts$28,113,655$62,695,605▲ $34,581,950
Pledges and Grants Receivable$31,495,711$29,382,858▼ $2,112,853
Prepaid Expenses and Deferred Charges$38,995,568$5,350,712▼ $33,644,856
Accounts Receivable$1,165,333$1,556,321▲ $390,988
Other Notes and Loans Receivable, Net$8,620,613$1,209,763▼ $7,410,850
Investments in Publicly Traded Securities$607,534$665,243▲ $57,709
Savings and Temporary Cash Investments$246,039$414,436▲ $168,397
Total Assets$311,756,131$358,293,038▲ $46,536,907
Other Assets Total$9,566,212$15,971,380▲ $6,405,168
Liabilities
Tax Exempt Bond Liabilities$43,025,184$90,025,607▲ $47,000,423
Other Liabilities$15,482,422$18,424,749▲ $2,942,327
Deferred Revenue$7,593,472$8,018,439▲ $424,967
Accounts Payable and Accrued Expenses$7,994,691$7,069,412▼ $925,279
Total Liabilities$74,095,769$123,538,207▲ $49,442,438
Net Assets / Fund Balance
Net Assets With Donor Restrictions$125,251,318$122,313,808▼ $2,937,510
Net Assets Without Donor Restrictions$112,409,044$112,441,023▲ $31,979
Total Net Assets Fund Balance$237,660,362$234,754,831▼ $2,905,531
Total Liabilities and Net Assets / Fund Balance$311,756,131$358,293,038▲ $46,536,907

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$61,916,473$95,850,428-
Other Land Buildings$18,231,314--
Land$30,076,033--
Equipment$4,026,119$19,765,570-
Leasehold Improvements$141,505$36,505-
Other Securities$123,942,917--
Closely Held Equity Interests$2,712,359--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$101,717,252$3,151,730▲ $9,018,829$366,215$109,770,462
2022$97,755,000$563,862▲ $7,160,625$1,157,212$101,717,017
2021$97,750,000$5,830,000▼ $3,009,000-$97,755,000
2020$85,378,000$2,732,000▲ $14,269,000$352,251$97,750,000
2019$85,935,291$2,369,506▲ $1,319,789$424,780$85,378,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Debra SchwinnPresidentFT$594,500$143,901$738,401
Laura BishopExec. VP, AdvancementFT$289,266$18,808$308,074
Stacie BowieExec. VP Finance & Admin/CFOFT$267,444$13,563$281,007
Steven AldermanCLO & General CounselFT$228,198$16,463$244,661
Nancy BrainardExec. Vb EnrollmentFT$200,893$10,802$211,695
Dana StrachanDean, PharmacyFT$197,298$13,459$210,757
Scott BarnesVP ItsFT$192,480$12,760$205,240
Chelneca TempletonProvost, CAO(formerly)FT$190,425$13,387$203,812
Phil TobinDean, Health SciencesFT$189,847$13,921$203,768
Brian StrowDean, Business SchoolFT$186,104$10,685$196,789
Cara WaldVP Human ResourcesFT$178,252$12,944$191,196
Michele SchneiderAssociate VP & ControllerFT$167,629$9,624$177,253
Curtis BrownAssociate VP, Construction & DesignFT$167,375$8,521$175,896
Courtney LovelyDirector of AthleticsFT$146,405$13,792$160,197
Bob LutzVP Student Development (previously)FT$136,819$13,065$149,884
Bernard CuetoVP, Spiritual Development(previously)FT$111,804$7,581$119,385
Bernard CuetoVP, Spiritual Development(previously-$109,304$10,081$119,385
Stephen JohnsonProvostFT$17,430$1,131$18,561

Highest Paid Contractors

ContractorServicesLocationCompensation
Jones Foster PaLegal Services505 S FLAGLER DRIVE SUITE 1100, West Palm Beach, FL 33401$365,785
Millenia Lakes Owner I LPRent591 WEST PUTNAM AVENUE, Greenwich, CT 06830$353,542
TimelymdTelehealth Provider1315 S ADAMS ST, Fort Worth, TX 76104$272,070
Templeton & Company LLPProfessional Services222 LAKEVIEW AVE STE 1200, West Palm Beach, FL 33401$234,827
Love 900 LLCRentPO BOX 28 GEDNEY STATION, White Plains, NY 10605$202,782
Revenue and Support

Revenue Composition

Contributions and Grants
$9,872,367
Program Service Revenue
$123,152,074
Investment Income
$5,029,478
Other Revenue
$418,390
All Other Contributions
$7,473,558
Change in Net Assets
$-10,750,641

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 Amount
Securities Publicly Traded20$592,612
Total Noncash Contributions20$592,612

Audited Revenue Reconciliation

Revenue per Audited Statements
$92,943,500
Revenue Not Reported on Financial Statements
$45,528,809
Revenue Not Reported on Form 990
$8,004,692
Other Revenue Adjustments
$45,350,706
Total Revenue per Audited Statements
$100,948,192
Total Revenue per Form 990
$138,472,309
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$52,507,107
Other Expenses$51,365,138
Grants and Similar Amounts Paid$45,350,705
Total Fundraising Expense$1,882,238
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$42,753,288--$42,753,288
Other Salaries and Wages$30,808,987$6,347,276$1,015,432$38,171,695
Depreciation Depletion$6,032,294$270,568-$6,302,862
Other Employee Benefits$3,386,908$2,410,356$90,550$5,887,814
Fees for Services Other$4,837,381$491,278$250,993$5,579,652
Insurance$4,057,356$181,986-$4,239,342
Current Officers, Directors, Trustees, and Key Employees$1,293,550$2,601,404$322,623$4,217,577
Other Expenses$2,700,780$485,562-$3,186,342
All Other Expenses$2,721,487$344,213-$3,065,700
Payroll Taxes$2,264,779$588,581$86,712$2,940,072
Office Expenses$1,831,826$1,035,591$61,575$2,928,992
Foreign Grants$2,597,417--$2,597,417
Information Technology$582,561$1,606,413-$2,188,974
Interest$1,996,948$89,570-$2,086,518
Pension Plan Contributions$1,089,340$174,053$26,556$1,289,949
Travel$974,862$36,383$27,797$1,039,042
Advertising$541,799$362,956-$904,755
Occupancy$648,097$232,731-$880,828
Fees for Services Legal-$242,456-$242,456
Fees for Services Accounting-$196,837-$196,837
Fees for Service Investment Mgmnt Fees-$178,103-$178,103
Total Functional Expenses$126,028,803$21,311,909$1,882,238$149,222,950

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$149,222,950
Total Expenses per Audited Statements$103,853,723
Expenses per Audited Statements$103,694,141
Expenses Not Reported on Financial Statements$45,528,809
Other Expense Adjustments$45,350,706
Expenses Not Reported on Form 990$159,582
International Activity

International Summary

Offices
0
Employees
0
Spending
$563,248

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Program ServicesProgram Services - Study Abroad for EducationInternational Study Available in London, Oxford, Paris, Costa Rica, Italy, Australia, Prague, St. Andrew, Uganda, Croatia, Greece, Hungary, Turkey.00$563,248
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$159,582
Fundraising Gross Income$50,400
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Women of Distinction$168,750$50,400$159,582$-109,182
Total Events$168,750$50,400$159,582$-109,182
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Treasurer Mike StevensMarshall and Vera Lea Rinker FoundationInterest on Promissory NoteNo$220,000
Trustee Scott HawkinsShareholder in Jones, Foster, Johnson and Stubbs, P.a.Legal ServicesNo$114,739
Trustee James JenkinsElder at Memorial Presbyterian ChurchProperty RentalNo$25,930
Trustee John LittleJohn Little Attorney at Gunster YoakleyLegal ServicesNo$13,932
Trustee Grace KurianExecutve Director of NexteraUtilitiesNo$9,600
Trustee Robert PacienzaSenior Pastor of Coral Ridge PresbyterianEvent SponsorshipNo$5,000
Trustee James ScrogginsPastor at First Baptist Church of West Palm BeachMinistry Partnership AgreementNo$175
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Obligations$15,971,380
Deposits and Other Liabilities$2,348,291
Annuities Payable$105,078

Bond Issues

BondIssuerIssuedIssue PricePurpose
BPalm Beach County Educational Facilities Authority Rev Series 2021 Bonds2024-03-13$48,462,861Finance construction of rinker school of business and other capital projects
APalm Beach County Educational Facilities Authority Rev Series 2021 Bonds2021-10-13$39,997,998Refund series '12 bonds and '14 term loans & finance future capital projects

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$48,462,861--$557,861
A$39,997,998-$30,148,814$381,440

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
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 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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 2

The organization acknowledges that there is a family relationship between karl watson sr. And karl watson jr., both of whom serve as members of the organization's board.

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

The audit committee chairman, executive vp for finance and associate vp for finance's office. The university also sends an electronic copy of the form 990 to members of the board of trustees.

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

Trustees are required to file on an annual basis a disclosure and compliance statement disclosing their personal interest, direct or indirect, in any university transaction during the previous year and affirming that (i) they have read the university conflict of interest and commitment policy, (ii) they will avoid participating in any university decision in which the individual or any affiliate could be said to have personal financial or other stake in the decision or where other outside influences could influence the trustee's independent judgment. Copies of all disclosure and compliance statements shall be kept as a matter of record in the presidents office.

Form 990, Part VI, Section B, Line 15

The board reviews the compensation of the president annually. Information is collected on new and vacant positions from search committees as well as data from many sources including, but not limited to, cupa-hr, cccu, auup, florida department of labor etc. Human resources reviews the different positions, description of the positions, and the proposed salary for content and fit within the campus salary structure. Final review and approval of all full-time offers of employment at the director level and above are presented to the president for approval upon the recommendation of the appropriate vice president.

Form 990, Part VI, Section C, Line 19

UPON WRITTEN REQUEST.

Filing and Contact Details

Filer

Filer Name
Palm Beach Atlantic University Inc
EIN
59-1092732
Phone
5618032083
Address
901 S FLAGLER DRIVE, WEST PALM BEACH, FL 33401

Signing Officer

Name
Dr Debra a Schwinn
Title
President
Phone
5618032004
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Debra a Schwinn
Formed
1968
Legal Domicile
Fl
Voting Board Members
27
Independent Board Members
27
Employees
1,440
Volunteers
10

Preparer

Firm
Templeton & Company Llp
Address
222 LAKEVIEW AVENUE SUITE 1200, WEST PALM BEACH, FL 33401
Preparer
Richard Juback
Phone
5617989988
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

Palm beach atlantic university equips students to grow in wisdom, lead with conviction and serve god boldly.

FORM 990, PART XI, LINE 9:

Change in value of split-interest trusts 1,269,863.

FORM 990, PART XII, LINE 2C:

The university has not changed its oversight process policy.

Financial Statement Notes

PART III, LINE 4:

The university periodically receives artwork from donors for public exhibition purposes. Such artwork collection has not been recorded since the university does not have objective and measurable fair values to assign to the artwork.

PART V, LINE 4:

The intended use of the endowment funds is to generate income to provide student scholarships, for faculty salaries, and professional development and maintain facilities.

PART X, LINE 2:

The university has been recognized by the internal revenue service (irs) as an organization exempt from federal income taxes under section 501(c)(3) of the internal revenue code (irc). Accordingly, no provision for income taxes has been recorded in the financial statements. The university is required to operate in conformity with the provisions of the irc to maintain its exempt status. The university recognizes the tax benefit associated with tax positions taken for tax return purposes when it is more likely than not the position will be sustained. The university does not believe there are any uncertain tax positions. For the years ended june 30, 2024 and 2023, there were no interest or penalties recorded or included in the university's financial statements. The university is no longer subject to income tax examinations for years prior to 2021. Earnings from unrelated business activities were not significant for the years ended june 30, 2024 and 2023; therefore, no related income taxes are accrued in the accompanying financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expense 159,582. Change in value of split-interest trusts 1,269,863.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Unsponsored scholarships 37,241,314. Sponsored scholarships 4,182,710. Athletic scholarships 3,926,681. Rounding adjustment 1.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expense 159,582.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Unsponsored scholarships 37,241,314. Sponsored scholarships 4,182,710. Athletic scholarships 3,926,681. Rounding adjustment 1.

Raw XML AppendixShowing 400 of 1,444 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/Desc0PALM BEACH ATLANTIC UNIVERSITY OFFERS HIGHER EDUCATION TO A TOTAL OF APPROXIMATELY 3,875 STUDENTS, ENCOMPASSING BOTH FULL-TIME AND PART-TIME STUDENTS, ACROSS ITS 69 UNDERGRADUATE, 16 GRADUATE, AND 2 PROFESSIONAL DEGREE PROGRAMS, AND ALSO PROVIDES A RANGE OF AUXILIARY SERVICES SUCH AS CONTINUING EDUCATION, STUDENT HOUSING, A DINING HALL, AND A BOOKSTORE, TO NAME A FEW. MOREOVER, THE UNIVERSITY EXTENDS FINANCIAL ASSISTANCE TO AROUND 2,819 STUDENTS, NOTING THAT THIS NUMBER MAY VARY FROM THE OVERALL STUDENT COUNT SINCE CERTAIN STUDENTS MAY RECEIVE MULTIPLE TYPES OF FINANCIAL AWARDS.
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