Civic Intelligence

Freed-Hardeman University

990 • Fiscal year 2014 • EIN 62-0518288

Jun 01, 2013 to May 31, 2014 • Filed on Jan 13, 2015

Organization ProfileWWW.FHU.EDU.COM

View Organization Page

158 E Main St38340

(731) 989-6006

Siviq Scores

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

Liabilities / Assets

45th percentile

0.28x

Higher debt load relative to assets than 45% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

48th percentile

0.48x

Higher debt load relative to revenue than 48% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

87th percentile

35%

Higher net margin than 87% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

28th percentile

$310,862

Higher top officer pay than 28% of similar nonprofits.

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

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

90th percentile

22%

Faster asset growth than 90% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$128,830,930

Up $23,177,765 (+22%) from 2013

Net Assets

Up

$92,891,943

Up $26,454,214 (+40%) from 2013

Liabilities

Down

$35,938,987

Down $3,276,449 (-8.4%) from 2013

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin87th percentile

Revenue

$75,248,421

No earlier filing loaded for comparison.

Expenses

Up

$48,794,207

Up $7,050,262 (+17%) from 2013

Net Income

$26,454,214

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$300M$200M$100M$0Assets 2010: $85,551,965Liabilities 2010: $35,445,041Net Assets 2010: $50,106,9242010Assets 2011: $93,485,603Liabilities 2011: $37,000,298Net Assets 2011: $56,485,3052011Assets 2012: $97,775,098Liabilities 2012: $38,863,560Net Assets 2012: $58,911,5382012Assets 2013: $105,653,165Liabilities 2013: $39,215,436Net Assets 2013: $66,437,7292013Assets 2014: $128,830,930Liabilities 2014: $35,938,987Net Assets 2014: $92,891,9432014Assets 2015: $132,862,488Liabilities 2015: $34,235,802Net Assets 2015: $98,626,6862015Assets 2016: $134,801,440Liabilities 2016: $38,767,466Net Assets 2016: $96,033,9742016Assets 2017: $136,988,857Liabilities 2017: $36,078,248Net Assets 2017: $100,910,6092017Assets 2018: $143,676,055Liabilities 2018: $34,644,921Net Assets 2018: $109,031,1342018Assets 2019: $147,262,050Liabilities 2019: $35,343,632Net Assets 2019: $111,918,4182019Assets 2020: $152,512,537Liabilities 2020: $39,711,419Net Assets 2020: $112,801,1182020Assets 2021: $173,757,054Liabilities 2021: $39,410,039Net Assets 2021: $134,347,0152021Assets 2022: $179,769,242Liabilities 2022: $35,160,879Net Assets 2022: $144,608,3632022Assets 2023: $187,756,629Liabilities 2023: $34,187,720Net Assets 2023: $153,568,9092023Assets 2024: $209,376,285Liabilities 2024: $36,587,751Net Assets 2024: $172,788,5342024

Highlighted filing

2014

Assets$128,830,930
Liabilities$35,938,987
Net Assets$92,891,943
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$80M$60M$40M$20M$0Expenses 2010: $39,790,1392010Expenses 2011: $41,217,2062011Expenses 2012: $40,715,7422012Expenses 2013: $41,743,9452013Revenue 2014: $75,248,421Expenses 2014: $48,794,207Net Income 2014: $26,454,2142014Revenue 2015: $52,423,997Expenses 2015: $47,836,966Net Income 2015: $4,587,0312015Revenue 2016: $51,776,024Expenses 2016: $50,732,216Net Income 2016: $1,043,8082016Revenue 2017: $52,028,826Expenses 2017: $49,392,048Net Income 2017: $2,636,7782017Revenue 2018: $58,295,305Expenses 2018: $51,572,490Net Income 2018: $6,722,8152018Revenue 2019: $55,757,789Expenses 2019: $51,908,443Net Income 2019: $3,849,3462019Revenue 2020: $55,774,338Expenses 2020: $52,981,610Net Income 2020: $2,792,7282020Revenue 2021: $58,919,175Expenses 2021: $52,397,666Net Income 2021: $6,521,5092021Revenue 2022: $74,019,321Expenses 2022: $57,322,571Net Income 2022: $16,696,7502022Revenue 2023: $69,265,588Expenses 2023: $59,667,208Net Income 2023: $9,598,3802023Revenue 2024: $69,201,935Expenses 2024: $58,914,183Net Income 2024: $10,287,7522024

Highlighted filing

2014

Revenue$75,248,421
Expenses$48,794,207
Net Income$26,454,214
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Jan 13, 2015
Return Version
2013v4.0
Gross Receipts
$75,248,421
Mission and Program Overview

Mission

Freed-Hardeman University is a private school associated with churches of Christ which emphasizes the physical and spiritual development of its students so they can better serve their communities.

Freed-hardeman university is a private school associated with churches of christ which emphasizes physical and spiritual development of its students to prepare them for lives of service to their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$52,465,351$67,149,099▲ $14,683,748
Investments in Publicly Traded Securities$48,173,484$41,654,712▼ $6,518,772
Investments Other Securities-$10,688,126-
Loans From Officers Directors$7,976,395$6,975,000▼ $1,001,395
Pledges and Grants Receivable-$4,244,500-
Cash and Non-Interest-Bearing Accounts$972,717$1,687,754▲ $715,037
Other Notes and Loans Receivable, Net$1,597,885$1,397,274▼ $200,611
Accounts Receivable$1,297,008$931,725▼ $365,283
Prepaid Expenses and Deferred Charges$811,952$843,911▲ $31,959
Inventories for Sale or Use$334,768$233,829▼ $100,939
Total Assets$105,653,165$128,830,930▲ $23,177,765
Liabilities
Tax Exempt Bond Liabilities$15,812,555$16,750,219▲ $937,664
Unsecured Notes Loans Payable-$6,820,724-
Accounts Payable and Accrued Expenses$4,760,717$2,001,941▼ $2,758,776
Other Liabilities$7,592,709$1,367,143▼ $6,225,566
Grants Payable$1,288,826$1,215,343▼ $73,483
Deferred Revenue$1,784,234$808,617▼ $975,617
Total Liabilities$39,215,436$35,938,987▼ $3,276,449
Net Assets / Fund Balance
Unrestricted Net Assets$26,060,622$42,949,132▲ $16,888,510
Temporarily Rstr Net Assets$24,876,901$34,069,192▲ $9,192,291
Permanently Rstr Net Assets$15,500,206$15,873,619▲ $373,413
Total Net Assets Fund Balance$66,437,729$92,891,943▲ $26,454,214
Total Liabilities and Net Assets / Fund Balance$105,653,165$128,830,930▲ $23,177,765

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$60,750,952$26,335,499-
Other Land Buildings$458,553$818,401-
Land$3,651,146--
Equipment$2,288,448$4,918,557-
Other Securities$1,436,974--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$24,404,087$1,302,743▲ $3,870,900-$28,104,138
2012$35,384,024$2,326,696▲ $7,780,884-$43,634,383
2011$32,789,563$2,251,992▲ $1,937,987-$35,384,024
2010$28,104,138$621,128▲ $5,530,140-$32,789,563
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joe WileyPresidentFT$289,098$21,764$310,862
Joe a Wiley--$289,098$21,764$310,862
Dwayne WilsonExec VPFT$179,385$16,564$195,949
Dwayne H Wilson--$179,385$16,564$195,949
Milton SewellChancellorFT$171,243$17,114$188,357
Milton R Sewell--$171,243$17,114$188,357
Charles ViresVice PresidentFT$161,990$19,012$181,002
Charles H Vires--$161,990$19,012$181,002
David ClouseVice PresidentFT$127,144$18,361$145,505
Robert ScottVice PresidentFT$122,380$15,026$137,406
Samuel JonesVice PresidentFT$118,404$16,253$134,657
Ken CargileFaculty MemberFT$113,324$11,355$124,679
Edward ScottVice PresidentFT$111,557$10,314$121,871
Mark SteinerFaculty MemberFT$98,117$16,373$114,490
Vicki JohnsonFaculty MemberFT$100,701$10,556$111,257
Thomas DeberryFaculty MemberFT$95,461$13,541$109,002
Keith SmithFaculty MemberFT$94,097$10,269$104,366
Revenue and Support

Revenue Composition

Contributions and Grants
$30,435,628
Program Service Revenue
$40,656,820
Investment Income
$2,349,412
Other Revenue
$1,806,561
All Other Contributions
$28,932,112
Change in Net Assets
$26,454,214

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$14,833,778Appraisal of Building
Securities Publicly Traded11$378,209Stock Exchange
Other Non Cash Contri Table12$58,820Fair Market Value (FMV) by Donor
Total Noncash Contributions24$15,270,807-

Audited Revenue Reconciliation

Revenue per Audited Statements
$75,248,421
Total Revenue per Audited Statements
$75,248,421
Total Revenue per Form 990
$75,248,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$20,042,273
Other Expenses$16,271,427
Grants and Similar Amounts Paid$12,480,507
Total Fundraising Expense$2,081,188
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,634,585$2,633,343$1,073,651$14,341,579
Grants to Domestic Individuals$12,480,507--$12,480,507
All Other Expenses$3,500,937--$3,500,937
Depreciation Depletion$2,159,666--$2,159,666
Other Employee Benefits$1,430,283$505,188$193,752$2,129,223
Current Officers, Directors, Trustees, and Key Employees$1,079,628$468,256$1,094,097$1,870,227
Travel$950,001$65,982$61,320$1,077,303
Payroll Taxes$816,313$151,272$91,601$1,059,186
Office Expenses$631,452$381,708$45,949$1,059,109
Information Technology$966,586--$966,586
Fees for Services Other$426,052$421,823-$847,875
Interest$694,832--$694,832
Pension Plan Contributions$494,745$85,169$62,144$642,058
Other Expenses$81,371$320,552-$320,552
Fees for Service Investment Mgmnt Fees$275,308--$275,308
Advertising$12,530-$230,428$242,958
Insurance$222,750$4,098-$226,848
Fees for Services Accounting-$82,715-$82,715
Conferences and Meetings$48,532--$48,532
Fees for Services Legal-$1,875-$1,875
Total Functional Expenses$40,930,478$5,782,541$2,081,188$48,794,207

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$48,794,207
Total Expenses per Audited Statements$48,794,207
Total Expenses per Form 990$48,794,207
International Activity

International Summary

Spending
$415,734

International Compliance

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
EuropeProgram ServicesClasses Taught13$369,225
SpainProgram ServicesClasses Taught02$46,509
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$1,178,814$1,178,814$84,717$1,094,097
Total Events$1,178,814-$84,717$1,094,097
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$7,976,395$6,975,000▼ $1,001,395
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable$1,128,981
Liability Under Unitrust Agreements$238,162

Bond Issues

BondIssuerIssuedIssue PricePurpose
B52-13392512013-03-20$11,678,665Refinancing 3 previous bond issues
A52-13392512005-10-06$6,500,000Build and equip dormitory

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$11,678,665---
A$6,500,000-$11,652,016$26,649
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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

Part VI Section B Line 12C

“An electronic version of the conflict of interest policy is made available to all board of trustees members. All members sign a statement acknowledging the policy and understand that there are penalties for non-compliance.”

Part VI Section B Lines 15A

“The president's salary is reviewed annually by the compensation committee a subcommittee of the board of trustees. Each year the committee reviews available salary surveys for example the survey compiled by the chronicle of higher education. The committee also considers the president's performance especially in regard to metrics on the institution's strategic plan. Any changes in compensation are recommended by the committee for approval by the full board of trustees.”

Part VI Section B Lines 15B

“The compensation for the other officers and key employees are set by the president with approval by the board of trustees.”

Filing and Contact Details

Filer

EIN
62-0518288

Signing Officer

Name
Richard Taylor
Title
Financial Analyst
Phone
7319896006
Signed
2015-01-13

Organization Details

Principal Officer
Richard Taylor
Formed
1869
Legal Domicile
Tn
Voting Board Members
29
Independent Board Members
29
Employees
1,160
Supplemental Narrative

Additional Explanations

Part IV Section B Line 11B

“A copy of the 990 is sent to all members of the audit committee and made available to all members of the board of trustees upon request.”

Financial Statement Notes

Part V Line 4

“Support of student scholarships and operating budget are the intended use of the endowment funds.”

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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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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$128,830,930
Liabilities
$35,938,987
Net assets
$92,891,943
Revenue
$75,248,421
Expenses
$48,794,207
Net income
$26,454,214
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$209$36.6$173$69.2$58.9$10.3
2023Detailed filing. Detailed filing data is available for this year.$188$34.2$154$69.3$59.7$9.60
2022Detailed filing. Detailed filing data is available for this year.$180$35.2$145$74.0$57.3$16.7
2021Detailed filing. Detailed filing data is available for this year.$174$39.4$134$58.9$52.4$6.52
2020Detailed filing. Detailed filing data is available for this year.$153$39.7$113$55.8$53.0$2.79
2019Detailed filing. Detailed filing data is available for this year.$147$35.3$112$55.8$51.9$3.85
2018Detailed filing. Detailed filing data is available for this year.$144$34.6$109$58.3$51.6$6.72
2017Detailed filing. Detailed filing data is available for this year.$137$36.1$101$52.0$49.4$2.64
2016Detailed filing. Detailed filing data is available for this year.$135$38.8$96.0$51.8$50.7$1.04
2015Detailed filing. Detailed filing data is available for this year.$133$34.2$98.6$52.4$47.8$4.59
2014Detailed filing. Detailed filing data is available for this year.$129$35.9$92.9$75.2$48.8$26.5
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$39.2$66.4$41.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$97.8$38.9$58.9$40.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$93.5$37.0$56.5$41.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.6$35.4$50.1$39.8