Civic Intelligence

Hiwassee College

EIN 62-0511454 • 501(c)3 • Alcoa, TN

View Organization Page

Profile

A liberal arts college founded in 1849 and associated with the united methodist church, providing quality education for all students in an atomosphere that promotes intellectual pursuit, spiritual growth and personal responsibility.

PO Box 905Alcoa, TN 37701

www.hiwassee.edu

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

65th percentile

12%

Higher net margin than 65% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

52nd percentile

5.3%

Faster asset growth than 52% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

379%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$6,691,323

Up $480,608 (+7.7%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$6,691,323

Up $480,608 (+7.7%) from 2023

Operations
Liabilities / Revenue10th percentileNet Margin65th percentile

Revenue

Up

$109,943

Up $40,692 (+59%) from 2023

Expenses

Down

$54,319

Down $6,382 (-11%) from 2023

Net Income

Up

$55,624

Up $47,074 (+551%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth52nd percentile

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

$15M$10M$5.0M$0Assets 2010: $10,416,118Liabilities 2010: $1,784,828Net Assets 2010: $8,631,2902010Assets 2011: $10,608,589Liabilities 2011: $2,680,677Net Assets 2011: $7,927,9122011Assets 2012: $10,681,552Liabilities 2012: $3,324,375Net Assets 2012: $7,357,1772012Assets 2013: $11,437,172Liabilities 2013: $3,206,288Net Assets 2013: $8,230,8842013Assets 2014: $11,078,028Liabilities 2014: $3,763,606Net Assets 2014: $7,314,4222014Assets 2015: $11,623,669Liabilities 2015: $4,013,930Net Assets 2015: $7,609,7392015Assets 2016: $12,209,936Liabilities 2016: $3,694,427Net Assets 2016: $8,515,5092016Assets 2017: $12,399,204Liabilities 2017: $3,510,828Net Assets 2017: $8,888,3762017Assets 2018: $12,925,530Liabilities 2018: $3,814,229Net Assets 2018: $9,111,3012018Assets 2019: $7,571,750Liabilities 2019: $5,706,424Net Assets 2019: $1,865,3262019Assets 2020: $7,350,864Liabilities 2020: $4,846,492Net Assets 2020: $2,504,3722020Assets 2021: $6,263,904Liabilities 2021: $0Net Assets 2021: $6,263,9042021Assets 2022: $5,895,752Liabilities 2022: $0Net Assets 2022: $5,895,7522022Assets 2023: $6,210,715Liabilities 2023: $0Net Assets 2023: $6,210,7152023Assets 2024: $6,691,323Liabilities 2024: $0Net Assets 2024: $6,691,3232024

Highlighted filing

2024

Assets$6,691,323
Liabilities$0
Net Assets$6,691,323
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $5,553,0292010Expenses 2011: $5,419,3282011Expenses 2012: $6,758,5982012Expenses 2013: $6,902,8172013Revenue 2014: $5,173,424Expenses 2014: $6,114,223Net Income 2014: -$940,7992014Revenue 2015: $6,435,827Expenses 2015: $6,135,840Net Income 2015: $299,9872015Revenue 2016: $8,258,986Expenses 2016: $7,359,653Net Income 2016: $899,3332016Revenue 2017: $7,914,243Expenses 2017: $7,741,237Net Income 2017: $173,0062017Revenue 2018: $8,070,550Expenses 2018: $8,026,450Net Income 2018: $44,1002018Revenue 2019: $6,885,827Expenses 2019: $7,870,798Net Income 2019: -$984,9712019Revenue 2020: $995,440Expenses 2020: $307,539Net Income 2020: $687,9012020Revenue 2021: $4,384,241Expenses 2021: $624,709Net Income 2021: $3,759,5322021Revenue 2022: $14,450Expenses 2022: $35,174Net Income 2022: -$20,7242022Revenue 2023: $69,251Expenses 2023: $60,701Net Income 2023: $8,5502023Revenue 2024: $109,943Expenses 2024: $54,319Net Income 2024: $55,6242024

Highlighted filing

2024

Revenue$109,943
Expenses$54,319
Net Income$55,624
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,691,323
Liabilities
$0
Net assets
$6,691,323
Revenue
$109,943
Expenses
$54,319
Net income
$55,624
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.69$0.00$6.69$0.11$0.05$0.06
2023Detailed filing. Detailed filing data is available for this year.$6.21$0.00$6.21$0.07$0.06$0.01
2022Detailed filing. Detailed filing data is available for this year.$5.90$0.00$5.90$0.01$0.04$0.02
2021Detailed filing. Detailed filing data is available for this year.$6.26$0.00$6.26$4.38$0.62$3.76
2020Detailed filing. Detailed filing data is available for this year.$7.35$4.85$2.50$1.00$0.31$0.69
2019Detailed filing. Detailed filing data is available for this year.$7.57$5.71$1.87$6.89$7.87$0.98
2018Detailed filing. Detailed filing data is available for this year.$12.9$3.81$9.11$8.07$8.03$0.04
2017Detailed filing. Detailed filing data is available for this year.$12.4$3.51$8.89$7.91$7.74$0.17
2016Detailed filing. Detailed filing data is available for this year.$12.2$3.69$8.52$8.26$7.36$0.90
2015Detailed filing. Detailed filing data is available for this year.$11.6$4.01$7.61$6.44$6.14$0.30
2014Detailed filing. Detailed filing data is available for this year.$11.1$3.76$7.31$5.17$6.11$0.94
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$3.21$8.23$6.90
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$3.32$7.36$6.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$2.68$7.93$5.42
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$1.78$8.63$5.55
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 12, 2024
Return Version
2023v6.0
Gross Receipts
$109,943
Mission and Program Overview

Mission

Hiwassee college, founded in 1849 and associated with the united methodist church, is a liberal arts, residential institution of higher education, providing quality education for all students in an atmosphere that promotes intellectual pursuit, spiritual growth and social and personal responsibility.

A liberal arts college founded in 1849 and associated with the united methodist church, providing quality education for all students in an atomosphere that promotes intellectual pursuit, spiritual growth and personal responsibility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,312,911$4,799,969▲ $487,058
Cash and Non-Interest-Bearing Accounts$1,897,804$1,891,354▼ $6,450
Total Assets$6,210,715$6,691,323▲ $480,608
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,714,553$10,200,283▲ $485,730
Net Assets Without Donor Restrictions$-3,503,838$-3,508,960▼ $5,122
Total Net Assets Fund Balance$6,210,715$6,691,323▲ $480,608
Total Liabilities and Net Assets / Fund Balance$6,210,715$6,691,323▲ $480,608

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$939,491--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$6,314,467---$6,314,467
2022$6,314,467---$6,314,467
2021$6,314,467---$6,314,467
2020$6,314,467---$6,314,467
2019$6,314,467---$6,314,467
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Bishop Mary Virginia TaylorTrustee
Dr David E HousemanTrustee
Dr Jack PhotonTrustee
Jason GattisTrustee
Patsy Q CarsonTrustee
Rev Charles MaynardTrustee
Rick CherryTrustee
Dr William Eddie HarmonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$33,708
Program Service Revenue
$0
Investment Income
$76,235
Other Revenue
$0
All Other Contributions
$33,708
Change in Net Assets
$55,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,319
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$23,330-$23,330
Fees for Service Investment Mgmnt Fees$14,161--$14,161
Insurance-$9,527-$9,527
Other Expenses$1,327$3,331-$4,658
Fees for Services Accounting-$2,643-$2,643
Total Functional Expenses$15,488$38,831$0$54,319
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
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, Page 6, Part VI, Line 11B

“The 990 was made available to the board for review.”

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

“Trustees sign a conflict of interest acknowledgement and disclosure form, which is kept on file in the business office.”

Form 990, Page 6, Part VI, Line 15A

“Top officers compensation was approved by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“The board reviewed top officers compensation”

Form 990, Page 6, Part VI, Line 19

“They are available upon request.”

Filing and Contact Details

Filer

Filer Name
Hiwassee College
EIN
62-0511454
Phone
8659821427
Address
PO BOX 905, ALCOA, TN 37701

Signing Officer

Name
Jason Gattis
Title
Trustee
Phone
8659821427
Signed
2024-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Gattis
Formed
1849
Legal Domicile
Tn
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

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

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“A liberal arts college founded in 1849 and associated with the united methodist church, providing quality education for all students in an atomosphere that promotes intellectual pursuit, spiritual growth and personal responsibility.”

Form 990, Page 2, Part III, Line 3

“The college announced on march 28, 2019 that the spring 2019 semester would be the final semester of the college operating. The college officially closed operations in may 2019. The college is in the final stages of disposing of assets and paying liabilities.”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“To provide scholarship to students”

Raw XML Appendix335 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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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt03860478
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1939491
IRS990ScheduleD/OtherSecuritiesGrp/Desc0FIRST BANK ENDOWMENT
IRS990ScheduleD/OtherSecuritiesGrp/Desc1HELD IN TRUST BY OTHERS
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SCHOLARSHIP TO STUDENTS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY WAS PUBLISHED IN LOCAL NEWSPAPERS AND IN THE OTHER PRINTED PUBLICATIONS THAT WAS USED BY THE COLLEGE TO RECRUIT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE COLLEGE DID RECEIVE FEDERAL ASSISTANCE IN THE PAST. FOR A PERIOD FROM MAY 2008 UNTIL AUGUST 2010, FINANCIAL AID WAS REVOKED DUE THE THE LOSS OF SACS ACCREDITATION. FINANCIAL AID WAS RESTORED WHEN MEMBESHIP WITH THE TRANSNATIONAL ASSOCATION OF CHRISTIAN COLLEGES AND SCHOOLS (TRACS) WAS OBTAINED AND AFTER THE REQUIRED TWO YEAR WAITING PERIOD. ON NOVEMBER 3, 2009, THE COLLEGE OBTAINED FULL ACCREDITATION STATUS WITH TRACS. THEY REMAINED UNDER A TWO YEAR WAITING PERIOD TO BE AWARDED FEDERAL FINANCIAL AID. THE WAITING PERIOD ENDED ON APRIL 14, 2010. THE COLLEGE REAPPLIED TO RECEIVE FIANACIAL AID AND WAS APPROVED AND AWARDED AID ON AUGUST 10, 2010 TO BE USED FOR THE FALL SEMESTER 2010.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A LIBERAL ARTS COLLEGE FOUNDED IN 1849 AND ASSOCIATED WITH THE UNITED METHODIST CHURCH, PROVIDING QUALITY EDUCATION FOR ALL STUDENTS IN AN ATOMOSPHERE THAT PROMOTES INTELLECTUAL PURSUIT, SPIRITUAL GROWTH AND PERSONAL RESPONSIBILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COLLEGE ANNOUNCED ON MARCH 28, 2019 THAT THE SPRING 2019 SEMESTER WOULD BE THE FINAL SEMESTER OF THE COLLEGE OPERATING. THE COLLEGE OFFICIALLY CLOSED OPERATIONS IN MAY 2019. THE COLLEGE IS IN THE FINAL STAGES OF DISPOSING OF ASSETS AND PAYING LIABILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 WAS MADE AVAILABLE TO THE BOARD FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRUSTEES SIGN A CONFLICT OF INTEREST ACKNOWLEDGEMENT AND DISCLOSURE FORM, WHICH IS KEPT ON FILE IN THE BUSINESS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TOP OFFICERS COMPENSATION WAS APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD REVIEWED TOP OFFICERS COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THEY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonNm0JASON GATTIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum08659821427
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HIWASSEE COLLEGE
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WARRENJACKSON CPAS PLLC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SWEETWATER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0378742731
ReturnHeader/PreparerPersonGrp/PhoneNum04233375003
ReturnHeader/PreparerPersonGrp/PreparationDt02025-01-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT S TALLENT CPA
ReturnHeader/ReturnTs02025-01-15T13:39:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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