Civic Intelligence

Carson-Newman University

990 • Fiscal year 2022 • EIN 62-0479189

Aug 01, 2021 to Jul 31, 2022 • Filed on Dec 19, 2023

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

51st percentile

0.29x

Higher debt load relative to assets than 51% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

1.06x

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

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

11th percentile

-16%

Higher net margin than 11% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

48th percentile

-2.3%

Faster asset growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-35%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Down

$156,701,755

Down $3,726,882 (-2.3%) from 2021

Net Assets

Down

$111,876,876

Down $6,812,010 (-5.7%) from 2021

Liabilities

Up

$44,824,879

Up $3,085,128 (+7.4%) from 2021

Revenue

Down

$42,287,447

Down $22,998,582 (-35%) from 2021

Expenses

Up

$49,099,457

Up $4,726,677 (+11%) from 2021

Net Income

Down

-$6,812,010

Down $27,725,259 (-133%) from 2021

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

2022

Assets$156,701,755
Liabilities$44,824,879
Net Assets$111,876,876

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

2022

Revenue$42,287,447
Expenses$49,099,457
Net Income-$6,812,010
Jump To
Filing Snapshot
Filing Period
Aug 1, 2021 to Jul 31, 2022
Signed
Dec 19, 2023
Return Version
2021v4.0
Gross Receipts
$42,287,447
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$65,147,848$73,815,311▲ $8,667,463
Investments in Publicly Traded Securities$67,272,406$60,135,401▼ $7,137,005
Cash and Non-Interest-Bearing Accounts$16,611,341$11,506,376▼ $5,104,965
Accounts Receivable$1,824,691$2,370,407▲ $545,716
Prepaid Expenses and Deferred Charges$1,269,934$1,405,279▲ $135,345
Other Notes and Loans Receivable, Net$950,830$749,398▼ $201,432
Total Assets$160,428,637$156,701,755▼ $3,726,882
Other Assets Total$7,351,587$6,719,583▼ $632,004
Liabilities
Other Liabilities$37,756,083$37,409,695▼ $346,388
Accounts Payable and Accrued Expenses$1,293,177$5,124,703▲ $3,831,526
Deferred Revenue$2,690,491$2,290,481▼ $400,010
Total Liabilities$41,739,751$44,824,879▲ $3,085,128
Net Assets / Fund Balance
Net Assets With Donor Restrictions$87,851,221$81,081,164▼ $6,770,057
Net Assets Without Donor Restrictions$30,837,665$30,795,712▼ $41,953
Total Net Assets Fund Balance$118,688,886$111,876,876▼ $6,812,010
Total Liabilities and Net Assets / Fund Balance$160,428,637$156,701,755▼ $3,726,882

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$56,609,489$49,328,893-
Other Land Buildings$8,592,371--
Land$5,959,544--
Equipment$4,558,852$28,936,952-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$71,080,042$721,737▼ $5,428,793-$65,762,662
2020$62,731,421$1,054,500▲ $9,978,919$-991,670$71,080,042
2019$65,671,878$820,044▲ $3,498,086$237,237$62,731,421
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
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$12,866,063
Program Service Revenue
$38,355,031
Investment Income
$0
Other Revenue
$-8,933,647
All Other Contributions
$6,668,785
Change in Net Assets
$-6,812,010

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 Table1$556,931
Total Noncash Contributions1$556,931

Audited Revenue Reconciliation

Revenue per Audited Statements
$42,287,447
Total Revenue per Audited Statements
$42,287,447
Total Revenue per Form 990
$42,287,447
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,263,876
Salaries, Compensation, and Employee Benefits$22,835,581
Total Fundraising Expense$1,544,016
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,253,008$2,027,199$556,796$18,837,003
Other Employee Benefits$3,274,785$633,697$90,096$3,998,578
Depreciation Depletion$2,845,476$275,475-$3,120,951
Other Expenses$2,951,556$602,218$854,759$2,951,556
Travel$1,152,256$97,304$42,365$1,291,925
Interest$638,381$79,974-$718,355
Total Functional Expenses$41,062,502$6,492,939$1,544,016$49,099,457

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$49,099,457
Total Expenses per Audited Statements$49,099,457
Total Expenses per Form 990$49,099,457
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$18,837,103
Capital Lease Payable - Eagle Fdn$13,318,928
Notes Payable$2,834,239
Notes Payable$2,277,780
Advances From Federal Government$594,022
Notes Payable Usda$39,052
Unamortized Cost$-491,429
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
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
Robert Key
Title
CFO
Phone
8654712008
Signed
2023-12-19

Organization Details

Principal Officer
Robert Key
Formed
1851
Legal Domicile
Tn
Voting Board Members
35
Independent Board Members
35
Employees
481
Volunteers
25

Preparer

Firm
Warrenjackson Cpas Pllc
Address
606 S MAIN STE C, SWEETWATER, TN 37874-2731
Preparer
Derrick Nelson Ea
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/PersonNm0MR RICHARD HILL
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IRS990/Form990PartVIISectionAGrp/PersonNm2MR ROBERT GAY
IRS990/Form990PartVIISectionAGrp/PersonNm3MS PATRICIA BIBLE
IRS990/Form990PartVIISectionAGrp/PersonNm4MR RICK GREENE
IRS990/Form990PartVIISectionAGrp/PersonNm5DR THOMAS E HARMON
IRS990/Form990PartVIISectionAGrp/PersonNm6JUDGE HARRY BROOKS
IRS990/Form990PartVIISectionAGrp/PersonNm7DR JACK OWENBY
IRS990/Form990PartVIISectionAGrp/PersonNm8JUDGE BARRY A STEELMAN
IRS990/Form990PartVIISectionAGrp/PersonNm9MR WILLIAM SEALE
IRS990/Form990PartVIISectionAGrp/PersonNm10MRS JOAN CRONAN
IRS990/Form990PartVIISectionAGrp/PersonNm11MRS WANDA MOORE
IRS990/Form990PartVIISectionAGrp/PersonNm12DR HONG TJOA
IRS990/Form990PartVIISectionAGrp/PersonNm13DR C WADE BIBB
IRS990/Form990PartVIISectionAGrp/PersonNm14JUDGE JEANETTE BLAZIER
IRS990/Form990PartVIISectionAGrp/PersonNm15DR CHARLES GROOVER
IRS990/Form990PartVIISectionAGrp/PersonNm16MRS JANET HAYES
IRS990/Form990PartVIISectionAGrp/PersonNm17DR RICHARD LLOYD
IRS990/Form990PartVIISectionAGrp/PersonNm18MS KRISTI PACZKOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm19MR GARY PAGE
IRS990/Form990PartVIISectionAGrp/PersonNm20DR DONALD PARKER
IRS990/Form990PartVIISectionAGrp/PersonNm21MR T MAXFIELD BAHNER
IRS990/Form990PartVIISectionAGrp/PersonNm22CHARLES FLOWER
IRS990/Form990PartVIISectionAGrp/PersonNm23JEREMY BUCKNER
IRS990/Form990PartVIISectionAGrp/PersonNm24EUGENE POPE
IRS990/Form990PartVIISectionAGrp/PersonNm25MARVIN CAMERON
IRS990/Form990PartVIISectionAGrp/PersonNm26PATRICK CARROLL
IRS990/Form990PartVIISectionAGrp/PersonNm27CT COZART
IRS990/Form990PartVIISectionAGrp/PersonNm28RANDY DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm29JOHN MARK HARRISON
IRS990/Form990PartVIISectionAGrp/PersonNm30JONATHAN MANFULL
IRS990/Form990PartVIISectionAGrp/PersonNm31JAMES MATHIS
IRS990/Form990PartVIISectionAGrp/PersonNm32ALLEN MORGAN
IRS990/Form990PartVIISectionAGrp/PersonNm33DAVID SAYLE
IRS990/Form990PartVIISectionAGrp/PersonNm34MARC STINNETT
IRS990/Form990PartVIISectionAGrp/PersonNm35PATSY WALLACE
IRS990/Form990PartVIISectionAGrp/PersonNm36LARRY WATERS
IRS990/Form990PartVIISectionAGrp/PersonNm37MARSHALL WHITE
IRS990/Form990PartVIISectionAGrp/PersonNm38ROBERT KEY
IRS990/Form990PartVIISectionAGrp/PersonNm39KEVIN TRIPLETT
IRS990/Form990PartVIISectionAGrp/PersonNm40ELAINE SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm41GLORIA WALKER
IRS990/Form990PartVIISectionAGrp/PersonNm42DANETTE SEALE
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY
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/NON-
IRS990/Form990PartVIISectionAGrp/TitleTxt22PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt23PROVOST
IRS990/Form990PartVIISectionAGrp/TitleTxt24AHLETIC DIRE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt31TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt32TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt33TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt34TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt35TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt36TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt37TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt38CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt39VP OF RELATI
IRS990/Form990PartVIISectionAGrp/TitleTxt40BUSINESS OFF
IRS990/Form990PartVIISectionAGrp/TitleTxt41VP OF ST SER
IRS990/Form990PartVIISectionAGrp/TitleTxt42VP OF ENROLL
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IRS990/FormationYr01851
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IRS990/GamingActivitiesInd0false
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt042287447
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IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt079974
IRS990/InterestGrp/ProgramServicesAmt0638381
IRS990/InterestGrp/TotalAmt0718355

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
2022Detailed filing. Detailed filing data is available for this year.$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