Civic Intelligence

Carson-Newman University

990 • Fiscal year 2017 • EIN 62-0479189

Aug 01, 2016 to Jul 31, 2017 • Filed on May 15, 2018

PO Box 557Jefferson City, TN 37760

(865) 471-2000

Siviq Scores

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

Liabilities / Assets

50th percentile

0.31x

Higher debt load relative to assets than 50% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

53rd percentile

0.54x

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

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

69th percentile

11%

Higher net margin than 69% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

21st percentile

$262,254

Higher top officer pay than 21% of similar nonprofits.

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

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

46th percentile

5.0%

Faster asset growth than 46% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

75th percentile

15%

Faster revenue growth than 75% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$126,924,608

Up $6,012,593 (+5.0%) from 2016

Net Assets

Up

$87,851,684

Up $7,683,946 (+9.6%) from 2016

Liabilities

Down

$39,072,924

Down $1,671,353 (-4.1%) from 2016

Revenue

Up

$72,446,440

Up $9,626,801 (+15%) from 2016

Expenses

Up

$64,762,494

Up $2,186,795 (+3.5%) from 2016

Net Income

Up

$7,683,946

Up $7,440,006 (+3050%) from 2016

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $98,158,435Liabilities 2010: $47,306,962Net Assets 2010: $50,851,4732010Assets 2011: $102,583,215Liabilities 2011: $47,818,131Net Assets 2011: $54,765,0842011Assets 2012: $106,023,627Liabilities 2012: $47,179,231Net Assets 2012: $58,844,3962012Assets 2013: $110,152,888Liabilities 2013: $44,585,167Net Assets 2013: $65,567,7212013Assets 2014: $116,322,562Liabilities 2014: $45,157,568Net Assets 2014: $71,164,9942014Assets 2015: $115,819,828Liabilities 2015: $41,888,304Net Assets 2015: $73,931,5242015Assets 2016: $120,912,015Liabilities 2016: $40,744,277Net Assets 2016: $80,167,7382016Assets 2017: $126,924,608Liabilities 2017: $39,072,924Net Assets 2017: $87,851,6842017Assets 2018: $132,985,994Liabilities 2018: $38,464,010Net Assets 2018: $94,521,9842018Assets 2019: $136,951,510Liabilities 2019: $40,719,054Net Assets 2019: $96,232,4562019Assets 2020: $146,955,025Liabilities 2020: $49,230,881Net Assets 2020: $97,724,1442020Assets 2021: $160,428,637Liabilities 2021: $41,739,751Net Assets 2021: $118,688,8862021Assets 2022: $156,701,755Liabilities 2022: $44,824,879Net Assets 2022: $111,876,8762022Assets 2023: $173,838,618Liabilities 2023: $54,917,817Net Assets 2023: $118,920,8012023Assets 2024: $178,725,404Liabilities 2024: $56,704,994Net Assets 2024: $122,020,4102024

Highlighted filing

2017

Assets$126,924,608
Liabilities$39,072,924
Net Assets$87,851,684

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $49,752,6712010Expenses 2011: $53,027,6312011Revenue 2012: $54,319,507Expenses 2012: $50,240,195Net Income 2012: $4,079,3122012Expenses 2013: $51,791,5882013Revenue 2014: $61,993,516Expenses 2014: $56,396,243Net Income 2014: $5,597,2732014Revenue 2015: $62,041,359Expenses 2015: $59,274,829Net Income 2015: $2,766,5302015Revenue 2016: $62,819,639Expenses 2016: $62,575,699Net Income 2016: $243,9402016Revenue 2017: $72,446,440Expenses 2017: $64,762,494Net Income 2017: $7,683,9462017Revenue 2018: $70,270,503Expenses 2018: $63,600,183Net Income 2018: $6,670,3202018Revenue 2019: $68,450,994Expenses 2019: $66,740,522Net Income 2019: $1,710,4722019Revenue 2020: $70,690,078Expenses 2020: $69,198,390Net Income 2020: $1,491,6882020Revenue 2021: $65,286,029Expenses 2021: $44,372,780Net Income 2021: $20,913,2492021Revenue 2022: $42,287,447Expenses 2022: $49,099,457Net Income 2022: -$6,812,0102022Revenue 2023: $57,605,049Expenses 2023: $50,561,124Net Income 2023: $7,043,9252023Revenue 2024: $58,703,240Expenses 2024: $55,603,631Net Income 2024: $3,099,6092024

Highlighted filing

2017

Revenue$72,446,440
Expenses$64,762,494
Net Income$7,683,946
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
May 15, 2018
Return Version
2016v3.1
Gross Receipts
$72,446,440
Mission and Program Overview

Mission

Mission of challenge, nurture, community: carson-newman college offers a christian, liberal arts education in an environment that encourages open intellectual inquiry and deeper spiritual maturity. Students receive a personalized education in small classes. Caring faculty and staff mentors get to know and nurture each student. We seek to instill christian values in our students and inspire them to use unique gifts for a lifetime of service. The historic baptist distinctives of religious liberty, personal responsibility, and compassion for others create a welcoming community that fosters a sense of belonging. The cultural heritage and geographic beauty of the appalachian region enriches the carson-newman experience, and the college contributes to the environmental preservation adn economic development of this national treasure. Vision: to become a premier christian liberal arts college with a world-wide impact.

Mission of challenge, nurture, community: carson-newman university offers a christian, liberal arts education in an environment that encourages open intellectual inquiry and deeper spiritual maturity. Students receive a personalized education in small classes. Caring faculty and staff mentors get to know and nurture each student. We seek to instill christian values in our students and inspire them to use unique gifts for a lifetime of service. The historic baptist distinctives of religious liberty, personal responsibility, and compassion for others create a welcoming community that fosters a sense of belonging. The cultural heritage and geographic beauty of the appalachian region enriches the carson-newman experience, and the university contributes to the environmental preservation adn economic development of this national treasure. Vision: to become a premier christian liberal arts university with a world-wide impact.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$53,519,109$53,825,001▲ $305,892
Investments in Publicly Traded Securities$46,749,053$50,657,637▲ $3,908,584
Cash and Non-Interest-Bearing Accounts$3,429,107$5,807,957▲ $2,378,850
Accounts Receivable$2,420,429$2,188,828▼ $231,601
Other Notes and Loans Receivable, Net$2,255,228$2,072,052▼ $183,176
Pledges and Grants Receivable$1,748,172$1,700,843▼ $47,329
Prepaid Expenses and Deferred Charges$857,491$961,476▲ $103,985
Total Assets$120,912,015$126,924,608▲ $6,012,593
Other Assets Total$9,933,426$9,710,814▼ $222,612
Liabilities
Other Liabilities$23,484,048$22,606,188▼ $877,860
Mortgage Notes Payable Secured by Investment Property$15,084,712$13,801,832▼ $1,282,880
Accounts Payable and Accrued Expenses$1,515,902$1,905,375▲ $389,473
Deferred Revenue$659,615$759,529▲ $99,914
Total Liabilities$40,744,277$39,072,924▼ $1,671,353
Net Assets / Fund Balance
Permanently Rstr Net Assets$54,612,105$57,477,709▲ $2,865,604
Unrestricted Net Assets$14,472,018$18,089,905▲ $3,617,887
Temporarily Rstr Net Assets$11,083,615$12,284,070▲ $1,200,455
Total Net Assets Fund Balance$80,167,738$87,851,684▲ $7,683,946
Total Liabilities and Net Assets / Fund Balance$120,912,015$126,924,608▲ $6,012,593

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,165,412$19,019,196-
Other Land Buildings$1,026,330$4,646,177-
Land$87,498,042--
Equipment$2,399,647$2,683,527-
Other Assets Org$3,348,497--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$58,979,635$2,370,912▲ $2,986,126$-9,423$62,854,530
2015$58,263,167$1,154,854▲ $1,246,276$-189,194$58,979,635
2014$57,506,060$2,081,412▲ $1,284,176$1,169,747$58,263,167
2013$53,388,154$1,211,708▲ $4,246,507$175,137$57,506,060
2012$49,910,334$1,540,586▲ $3,383,363$-5,023$53,388,154
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
DR J RANDALL O'BRIENPresidentFT$219,754$42,500$262,254
Mr Paul M PercyEvp and ProvFT$168,743-$168,743
Mr Paul M PercyEvp and Provost-$168,743-$168,743
Mrs Martha H ChambersVP CFOFT$120,678-$120,678

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark CorporationFood ServiceIDS-100 PENN SQ EAST, Philadelphia, PA 19107$4,187,284
Premiere Bldg Maint CorpJanitorial1416 MCCALLA AVE, Knoxville, TN 37915$1,100,390
Total Property ManagmentLawn/projects1022 W HWY 11-E, New Market, TN 37820$548,557
City Of Jefferson CityPolice OfficersPO BOX 530, Jefferson City, TN 37760$305,841
Premier Service Group INCMaintenance333 TROY CIRCLE, Knoxville, TN 37919$245,048
Revenue and Support

Revenue Composition

Contributions and Grants
$8,064,131
Program Service Revenue
$60,983,293
Investment Income
$4,205,178
Other Revenue
$-806,162
All Other Contributions
$7,895,226
Change in Net Assets
$7,683,946

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 Traded10$1,242,097
Clothing and Household Goods-$28,000
Other Non Cash Contri Table2$24,796
Total Noncash Contributions12$1,294,893

Audited Revenue Reconciliation

Revenue per Audited Statements
$72,446,440
Total Revenue per Audited Statements
$72,446,440
Total Revenue per Form 990
$72,446,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$23,826,104
Other Expenses$21,374,019
Salaries, Compensation, and Employee Benefits$19,562,371
Total Fundraising Expense$1,399,533
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$23,826,104--$23,826,104
Other Salaries and Wages$14,016,486$874,063$670,125$15,560,674
Occupancy$7,099,412$865,271$9,616$7,974,299
Depreciation Depletion$2,306,142$221,898-$2,528,040
Other Employee Benefits$1,788,287$466,350$123,487$2,378,124
Office Expenses$635,310$568,046$222,694$1,426,050
Payroll Taxes$982,653$87,127$44,618$1,114,398
All Other Expenses$303,538$504,565$50,432$858,535
Interest$648,973$192,026-$840,999
Travel$644,029$69,336$59,588$772,953
Fees for Services Management$590,146$17,488$30,617$638,251
Current Officers, Directors, Trustees, and Key Employees-$509,175-$509,175
Advertising$368,240$804$57,272$426,316
Insurance$328,477$36,588-$365,065
Other Expenses$265,043$469,254$77,802$265,043
Conferences and Meetings$140,235$10,430$23,586$174,251
Fees for Services Legal-$45,645-$45,645
Fees for Services Accounting$13,500$1,750-$15,250
Total Functional Expenses$58,340,232$5,022,729$1,399,533$64,762,494

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$64,762,494
Total Expenses per Audited Statements$64,762,494
Total Expenses per Form 990$64,762,494
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
Net Pension Liability$19,054,858
Advances From Federal Government$2,041,839
Annuiities Payable$1,057,096
Interest Rate Swaps$452,395
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A notice of draft of the form 990 and all attachments is e-mailed to priesident, chair and chairman of the finance committee of the board of trustees. The paresident and chairs are asked to forward any request by the full board.

Form 990, Page 6, Part VI, Line 12C

The universtiy's legal counsel explained the conflict-of-interest policy to all trustees who then in turn completed and signed conflict-of-interest statements. Certain members of the universtiy's board of trustees have disclosed that they manage or have financial interests in entitites which engage in certain business transactions with the university. It is the opinion of management that these transactions are either immaterial or the terms ofthese transactions are no less favorable to the university than what could have been obtained from unrelated entities. Compensation salaries are determined based upon job function when an individual is hired. The university has a hierarchical organizational structure in which supervisors, department heads, deans, vice presidents, and the president are involved in determining the allowable compensation for a particular function (i.e., job function). There are no independent persons or parties that review individual compensation arrangements, but the university administration is sensitive to conflicts of interest situations and requires all compensation to be based on market values. The board of trustees personnel committee reviews and approves the president's compensation and others as needed. Substantiation for compensation consists of comparisons at peer universityies and comparable jobs in the region. All employee compensation decisions are documented with appropriate approvals in individual personnel files. Such documentation includes, but is not limited to, offer letters, contracts, and memorandums.

Form 990, Page 6, Part VI, Line 19

Carson-newman university is committed to offering transparency and honors all requests for such information timely.

Filing and Contact Details

Filer

Filer Name
Carson-newman University
EIN
62-0479189
Phone
8654712000
Address
PO BOX 557, JEFFERSON CITY, TN 37760

Signing Officer

Name
Mrs Martha H Chambers
Title
VP CFO
Phone
8654712000
Signed
2018-05-15

Organization Details

Principal Officer
DR J RANDALL O'BRIEN
Formed
1851
Legal Domicile
Tn
Voting Board Members
25
Independent Board Members
25
Employees
1,261
Volunteers
20

Preparer

Firm
Warrenjackson Cpas Pllc
Address
206 N HILL ST, ATHENS, TN 37303
Preparer
David P Bales CPA
Phone
4237459314
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Mission of challenge, nurture, community: carson-newman university offers a christian, liberal arts education in an environment that encourages open intellectual inquiry and deeper spiritual maturity. Students receive a personalized education in small classes. Caring faculty and staff mentors get to know and nurture each student. We seek to instill christian values in our students and inspire them to use unique gifts for a lifetime of service. The historic baptist distinctives of religious liberty, personal responsibility, and compassion for others create a welcoming community that fosters a sense of belonging. The cultural heritage and geographic beauty of the appalachian region enriches the carson-newman experience, and the university contributes to the environmental preservation adn economic development of this national treasure. Vision: to become a premier christian liberal arts university with a world-wide impact.

Form 990, Page 2, Part III, Line 4D

Carson-newman universtiy integrates its students into benevolent ministries that it operates to service the indigent (appalachian outreach sponsors mission trips, provides home repair, a food pantry, clothing, household goods and educational programs that include tutoring and life skills training and its samaritan house provides temporary housing for homeless families in east tennessee).

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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/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/MissionDesc0MISSION OF CHALLENGE, NURTURE, COMMUNITY: CARSON-NEWMAN UNIVERSITY OFFERS A CHRISTIAN, LIBERAL ARTS EDUCATION IN AN ENVIRONMENT THAT ENCOURAGES OPEN INTELLECTUAL INQUIRY AND DEEPER SPIRITUAL MATURITY. STUDENTS RECEIVE A PERSONALIZED EDUCATION IN SMALL CLASSES. CARING FACULTY AND STAFF MENTORS GET TO KNOW AND NURTURE EACH STUDENT. WE SEEK TO INSTILL CHRISTIAN VALUES IN OUR STUDENTS AND INSPIRE THEM TO USE UNIQUE GIFTS FOR A LIFETIME OF SERVICE. THE HISTORIC BAPTIST DISTINCTIVES OF RELIGIOUS LIBERTY, PERSONAL RESPONSIBILITY, AND COMPASSION FOR OTHERS CREATE A WELCOMING COMMUNITY THAT FOSTERS A SENSE OF BELONGING. THE CULTURAL HERITAGE AND GEOGRAPHIC BEAUTY OF THE APPALACHIAN REGION ENRICHES THE CARSON-NEWMAN EXPERIENCE, AND THE UNIVERSITY CONTRIBUTES TO THE ENVIRONMENTAL PRESERVATION ADN ECONOMIC DEVELOPMENT OF THIS NATIONAL TREASURE. VISION: TO BECOME A PREMIER CHRISTIAN LIBERAL ARTS UNIVERSITY WITH A WORLD-WIDE IMPACT.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$179$56.7$122$58.7$55.6$3.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$174$54.9$119$57.6$50.6$7.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$157$44.8$112$42.3$49.1$6.81
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$160$41.7$119$65.3$44.4$20.9
2020Detailed filing. Detailed filing data is available for this year.$147$49.2$97.7$70.7$69.2$1.49
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$137$40.7$96.2$68.5$66.7$1.71
2018Detailed filing. Detailed filing data is available for this year.$133$38.5$94.5$70.3$63.6$6.67
2017Detailed filing. Detailed filing data is available for this year.$127$39.1$87.9$72.4$64.8$7.68
2016Detailed filing. Detailed filing data is available for this year.$121$40.7$80.2$62.8$62.6$0.24
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$116$41.9$73.9$62.0$59.3$2.77
2014Detailed filing. Detailed filing data is available for this year.$116$45.2$71.2$62.0$56.4$5.60
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$44.6$65.6$51.8
2012Summary only. Only limited summary data is available for this year.$106$47.2$58.8$54.3$50.2$4.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$103$47.8$54.8$53.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$98.2$47.3$50.9$49.8