Civic Intelligence

Carson-Newman University

990 • Fiscal year 2019 • EIN 62-0479189

Aug 01, 2018 to Jul 31, 2019 • Filed on May 05, 2020

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

0.30x

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

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.59x

Higher debt load relative to revenue than 57% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

45th percentile

2.5%

Higher net margin than 45% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

6th percentile

$140,667

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

43rd percentile

3.0%

Faster asset growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-2.6%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$136,951,510

Up $3,965,516 (+3.0%) from 2018

Net Assets

Up

$96,232,456

Up $1,710,472 (+1.8%) from 2018

Liabilities

Up

$40,719,054

Up $2,255,044 (+5.9%) from 2018

Revenue

Down

$68,450,994

Down $1,819,509 (-2.6%) from 2018

Expenses

Up

$66,740,522

Up $3,140,339 (+4.9%) from 2018

Net Income

Down

$1,710,472

Down $4,959,848 (-74%) from 2018

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

2019

Assets$136,951,510
Liabilities$40,719,054
Net Assets$96,232,456

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

2019

Revenue$68,450,994
Expenses$66,740,522
Net Income$1,710,472
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
May 5, 2020
Return Version
2018v3.2
Gross Receipts
$68,450,994
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$54,687,468$58,699,707▲ $4,012,239
Investments in Publicly Traded Securities$54,120,731$54,430,833▲ $310,102
Cash and Non-Interest-Bearing Accounts$8,515,122$6,224,634▼ $2,290,488
Pledges and Grants Receivable$1,896,028$3,966,805▲ $2,070,777
Accounts Receivable$2,711,635$2,818,020▲ $106,385
Other Notes and Loans Receivable, Net$1,820,782$1,443,567▼ $377,215
Prepaid Expenses and Deferred Charges$961,691$956,527▼ $5,164
Total Assets$132,985,994$136,951,510▲ $3,965,516
Other Assets Total$8,272,537$8,411,417▲ $138,880
Liabilities
Other Liabilities$36,543,131$38,562,238▲ $2,019,107
Accounts Payable and Accrued Expenses$1,372,203$1,586,767▲ $214,564
Deferred Revenue$548,676$570,049▲ $21,373
Total Liabilities$38,464,010$40,719,054▲ $2,255,044
Net Assets / Fund Balance
Permanently Rstr Net Assets$58,527,749$59,515,420▲ $987,671
Unrestricted Net Assets$21,514,630$22,349,825▲ $835,195
Temporarily Rstr Net Assets$14,479,605$14,367,211▼ $112,394
Total Net Assets Fund Balance$94,521,984$96,232,456▲ $1,710,472
Total Liabilities and Net Assets / Fund Balance$132,985,994$136,951,510▲ $3,965,516

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$48,022,298$43,675,810-
Other Land Buildings$2,844,938$1,668,124-
Land$4,884,249--
Equipment$2,948,222$26,330,187-
Other Assets Org$1,889,231--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$65,928,962$577,409▲ $1,881,508$1,135,752$65,671,878
2017$62,854,530$935,507▲ $2,418,576$-279,651$65,928,962
2016$58,979,635$2,370,912▲ $2,986,126$48,221$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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael Scott FualkenberryVP for AdvanFT$140,667$140,667
Mrs Martha H ChambersVP CFOFT$127,545$127,545
Charles FlowersPresidentFT$124,569$124,569
Paul PercyInterim PresFT$124,569$124,569
Jeremy BucknerProvostFT$122,846$122,846
Eugene PopeAhletic DireFT$116,646$116,646
Revenue and Support

Revenue Composition

Contributions and Grants
$6,769,345
Program Service Revenue
$61,115,695
Investment Income
$0
Other Revenue
$565,954
All Other Contributions
$6,512,389
Change in Net Assets
$1,710,472

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
Other Non Cash Contri Table10$312,445
Total Noncash Contributions10$312,445

Audited Revenue Reconciliation

Revenue per Audited Statements
$68,450,994
Total Revenue per Audited Statements
$68,450,994
Total Revenue per Form 990
$68,450,994
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,715,829
Other Expenses$21,228,097
Salaries, Compensation, and Employee Benefits$20,796,596
Total Fundraising Expense$1,631,061
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$24,715,829--$24,715,829
Other Salaries and Wages$15,089,436$1,506,641$782,790$17,378,867
Depreciation Depletion$2,304,022$221,694-$2,525,716
Other Employee Benefits$1,446,142$625,319$167,626$2,239,087
Office Expenses$833,846$659,736$81,412$1,574,994
All Other Expenses$1,085,563$385,409$65,305$1,536,277
Payroll Taxes$1,018,355$107,268$53,019$1,178,642
Other Expenses$606,885$17,468$130,680$755,033
Travel$627,292$50,572$27,866$705,730
Insurance$415,416--$415,416
Advertising$166,642$16,457$124,486$307,585
Conferences and Meetings$128,966$11,285$4,734$144,985
Interest$29,481$49,513-$78,994
Fees for Services Accounting$14,500$46,014-$60,514
Fees for Services Management$8,977--$8,977
Total Functional Expenses$60,196,586$4,912,875$1,631,061$66,740,522

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$66,740,522
Total Expenses per Audited Statements$66,740,522
Total Expenses per Form 990$66,740,522
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$18,719,338
Capital Lease Payable - Eagle Fdn$14,075,698
Advances From Federal Government$1,856,258
Note Payable - Butler Renovation$1,372,249
Note Payable - Middlebrook Pike$1,179,000
Annuiities Payable$1,027,875
Food Service Obligations$646,000
Unamortized Cost$-314,180
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 college'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 college's board of trustees have disclosed that they manage or have financial interests in entitites which engage in certain business transactions with the college. It is the opinion of management that these transactions are either immaterial or the terms of these transactions are no less favorable to the college than what could have been obtained from unrelated entities. Compensation salaries are determined based upon job function when an individual is hired. The college 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 college 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 colleges 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 college 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
2020-05-05

Organization Details

Principal Officer
Charles Flowers
Formed
1851
Legal Domicile
Tn
Voting Board Members
26
Independent Board Members
26
Employees
1,309
Volunteers
20

Preparer

Firm
Warrenjackson Cpas Pllc
Address
606 S MAIN STE C, SWEETWATER, TN 37874-2731
Preparer
David P Bales CPA
Phone
4233375003
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

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

Carson-newman college 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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IRS990/Form990PartVIISectionAGrp/PersonNm4MS PATRICIA BIBLE
IRS990/Form990PartVIISectionAGrp/PersonNm5MR RICK GREENE
IRS990/Form990PartVIISectionAGrp/PersonNm6DR THOMAS E HARMON
IRS990/Form990PartVIISectionAGrp/PersonNm7JUDGE HARRY BROOKS
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IRS990/Form990PartVIISectionAGrp/PersonNm9MR ROBERT TUCK
IRS990/Form990PartVIISectionAGrp/PersonNm10DR JACK OWENBY
IRS990/Form990PartVIISectionAGrp/PersonNm11JUDGE BARRY A STEELMAN
IRS990/Form990PartVIISectionAGrp/PersonNm12MR MARTIN YUNG
IRS990/Form990PartVIISectionAGrp/PersonNm13MR WILLIAM SEALE
IRS990/Form990PartVIISectionAGrp/PersonNm14MRS JOAN CRONAN
IRS990/Form990PartVIISectionAGrp/PersonNm15MRS WANDA MOORE
IRS990/Form990PartVIISectionAGrp/PersonNm16MRS RUTH PRESCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm17DR HONG TIJOA
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IRS990/Form990PartVIISectionAGrp/PersonNm19JUDGE JEANETTE BLAZIER
IRS990/Form990PartVIISectionAGrp/PersonNm20DR CHARLES GROOVER
IRS990/Form990PartVIISectionAGrp/PersonNm21MRS JANET HAYES
IRS990/Form990PartVIISectionAGrp/PersonNm22DR RICHARD LLOYD
IRS990/Form990PartVIISectionAGrp/PersonNm23MS KRISTI PACZKOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm24MR GARY PAGE
IRS990/Form990PartVIISectionAGrp/PersonNm25DR DONALD PARKER
IRS990/Form990PartVIISectionAGrp/PersonNm26MR T MAXFIELD BAHNER
IRS990/Form990PartVIISectionAGrp/PersonNm27MICHAEL SCOTT FUALKENBERRY
IRS990/Form990PartVIISectionAGrp/PersonNm28MRS MARTHA H CHAMBERS
IRS990/Form990PartVIISectionAGrp/PersonNm29PAUL PERCY
IRS990/Form990PartVIISectionAGrp/PersonNm30CHARLES FLOWERS
IRS990/Form990PartVIISectionAGrp/PersonNm31JEREMY BUCKNER
IRS990/Form990PartVIISectionAGrp/PersonNm32EUGENE POPE
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IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE/NON-
IRS990/Form990PartVIISectionAGrp/TitleTxt27VP FOR ADVAN
IRS990/Form990PartVIISectionAGrp/TitleTxt28VP CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt29INTERIM PRES
IRS990/Form990PartVIISectionAGrp/TitleTxt30PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt31PROVOST
IRS990/Form990PartVIISectionAGrp/TitleTxt32AHLETIC DIRE
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IRS990/MissionDesc0MISSION 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.
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IRS990/OtherExpensesGrp/Desc0OPER/MAINT EXPENSE
IRS990/OtherExpensesGrp/Desc1OTHER
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IRS990/OtherExpensesGrp/FundraisingAmt2130680
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1245054

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
2019Detailed filing. Detailed filing data is available for this year.$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