Civic Intelligence

Faulkner University

990 • Fiscal year 2017 • EIN 63-0329409

Jun 01, 2016 to May 31, 2017 • Filed on Sep 27, 2017

5345 Atlanta HighwayMontgomery, AL 36109

(334) 386-7274

Siviq Scores

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

Liabilities / Assets

67th percentile

0.48x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

66th percentile

0.75x

Higher debt load relative to revenue than 66% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

48th percentile

2.7%

Higher net margin than 48% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$296,079

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

60th percentile

8.3%

Faster asset growth than 60% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

46th percentile

3.9%

Faster revenue growth than 46% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$90,853,950

Up $6,942,603 (+8.3%) from 2016

Net Assets

Up

$47,496,342

Up $2,519,816 (+5.6%) from 2016

Liabilities

Up

$43,357,608

Up $4,422,787 (+11%) from 2016

Revenue

Up

$58,110,752

Up $2,206,155 (+3.9%) from 2016

Expenses

Down

$56,544,570

Down $197,563 (-0.3%) from 2016

Net Income

Up

$1,566,182

Up $2,403,718 (+287%) from 2016

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2011: $90,319,634Liabilities 2011: $44,864,213Net Assets 2011: $45,455,4212011Assets 2012: $91,622,054Liabilities 2012: $44,264,645Net Assets 2012: $47,357,4092012Assets 2013: $91,027,958Liabilities 2013: $42,685,303Net Assets 2013: $48,342,6552013Assets 2014: $88,544,132Liabilities 2014: $41,927,644Net Assets 2014: $46,616,4882014Assets 2015: $88,832,578Liabilities 2015: $41,571,795Net Assets 2015: $47,260,7832015Assets 2016: $83,911,347Liabilities 2016: $38,934,821Net Assets 2016: $44,976,5262016Assets 2017: $90,853,950Liabilities 2017: $43,357,608Net Assets 2017: $47,496,3422017Assets 2018: $90,319,289Liabilities 2018: $42,737,865Net Assets 2018: $47,581,4242018Assets 2019: $88,614,653Liabilities 2019: $40,834,461Net Assets 2019: $47,780,1922019Assets 2020: $90,552,154Liabilities 2020: $45,840,251Net Assets 2020: $44,711,9032020Assets 2021: $100,979,014Liabilities 2021: $45,437,029Net Assets 2021: $55,541,9852021Assets 2022: $101,589,206Liabilities 2022: $43,187,792Net Assets 2022: $58,401,4142022Assets 2023: $100,457,914Liabilities 2023: $42,772,777Net Assets 2023: $57,685,1372023Assets 2024: $115,341,167Liabilities 2024: $43,161,551Net Assets 2024: $72,179,6162024Assets 2025: $128,342,493Liabilities 2025: $45,424,587Net Assets 2025: $82,917,9062025

Highlighted filing

2017

Assets$90,853,950
Liabilities$43,357,608
Net Assets$47,496,342

Operations Trend

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

$100M$50M$0-$50MExpenses 2011: $47,082,9292011Expenses 2012: $51,184,0782012Expenses 2013: $54,052,8892013Revenue 2014: $52,612,603Expenses 2014: $54,918,760Net Income 2014: -$2,306,1572014Revenue 2015: $55,770,586Expenses 2015: $55,222,104Net Income 2015: $548,4822015Revenue 2016: $55,904,597Expenses 2016: $56,742,133Net Income 2016: -$837,5362016Revenue 2017: $58,110,752Expenses 2017: $56,544,570Net Income 2017: $1,566,1822017Revenue 2018: $55,842,619Expenses 2018: $55,939,044Net Income 2018: -$96,4252018Revenue 2019: $55,378,806Expenses 2019: $55,744,912Net Income 2019: -$366,1062019Revenue 2020: $55,209,343Expenses 2020: $56,444,383Net Income 2020: -$1,235,0402020Revenue 2021: $67,083,381Expenses 2021: $59,855,100Net Income 2021: $7,228,2812021Revenue 2022: $70,137,760Expenses 2022: $66,259,457Net Income 2022: $3,878,3032022Revenue 2023: $65,624,113Expenses 2023: $65,600,377Net Income 2023: $23,7362023Revenue 2024: $83,641,697Expenses 2024: $71,300,188Net Income 2024: $12,341,5092024Revenue 2025: $84,294,916Expenses 2025: $74,453,088Net Income 2025: $9,841,8282025

Highlighted filing

2017

Revenue$58,110,752
Expenses$56,544,570
Net Income$1,566,182
Jump To
Filing Snapshot
Filing Period
Jun 1, 2016 to May 31, 2017
Signed
Sep 27, 2017
Return Version
2016v3.0
Gross Receipts
$61,306,361
Mission and Program Overview

Mission

The mission of faulkner university is to glorify god through education of the whole person emphasizing integrity of character in a caring christian environment where every individual matters every day.

EDUCATIONAL INSTITUTION

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$50,533,611$50,628,415▲ $94,804
Investments in Publicly Traded Securities$19,385,692$23,799,311▲ $4,413,619
Cash and Non-Interest-Bearing Accounts$7,688,057$8,245,598▲ $557,541
Pledges and Grants Receivable$1,477,286$4,428,907▲ $2,951,621
Accounts Receivable$3,033,835$3,530,206▲ $496,371
Savings and Temporary Cash Investments$573,011--
Prepaid Expenses and Deferred Charges$119,457$143,258▲ $23,801
Other Notes and Loans Receivable, Net$33,693--
Total Assets$83,911,347$90,853,950▲ $6,942,603
Other Assets Total$1,066,705$78,255▼ $988,450
Liabilities
Tax Exempt Bond Liabilities$30,777,849$34,850,187▲ $4,072,338
Accounts Payable and Accrued Expenses$4,528,779$4,461,317▼ $67,462
Deferred Revenue$3,228,009$3,670,877▲ $442,868
Other Liabilities$317,547$300,734▼ $16,813
Mortgage Notes Payable Secured by Investment Property$58,668$64,252▲ $5,584
Grants Payable$23,969$10,241▼ $13,728
Total Liabilities$38,934,821$43,357,608▲ $4,422,787
Net Assets / Fund Balance
Unrestricted Net Assets$29,314,524$27,707,017▼ $1,607,507
Permanently Rstr Net Assets$12,644,371$12,744,795▲ $100,424
Temporarily Rstr Net Assets$3,017,631$7,044,530▲ $4,026,899
Total Net Assets Fund Balance$44,976,526$47,496,342▲ $2,519,816
Total Liabilities and Net Assets / Fund Balance$83,911,347$90,853,950▲ $6,942,603

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$42,589,222$21,103,420$63,692,642
Equipment$2,270,085$19,848,616$22,118,701
Land$5,397,044-$5,397,044
Other Land Buildings$372,064$4,471,568$4,843,632

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$17,308,614$26,202▲ $1,445,324$313,809$18,466,331
2015$18,222,279$232,531▼ $446,450$699,746$17,308,614
2014$19,111,352$18,242▲ $555,027$1,462,342$18,222,279
2013$18,015,943$737,641▲ $1,526,205$1,168,437$19,111,352
2012$19,790,895$85,084▲ $1,918,684$3,778,720$18,015,943
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
DR MIchael D WILLIAMSUniversity PresidentFT$278,408$17,671$296,079
charles nelsonDean-Jones School LawFT$184,300$12,814$197,114
Billy D HilyerChancellor/Former PresidentPT$131,021$42,514$173,535
Dave KhadangaDean-college of BusinessFT$162,976$6,926$169,902
Gerald Jones JrUniversity General CounselFT$138,026$13,299$151,325
Charles CampbellAssociate DEAN-JONES SCHOOFT$138,386$6,926$145,312
Rosie KhadangaProfessorFT$138,418$6,805$145,223
Joseph LesterDirector Advocacy ProgramFT$129,000$121$129,121
Wilma D PhillipsVice president-FinanceFT$116,297$492$116,789

Highest Paid Contractors

ContractorServicesLocationCompensation
Culinary Management Solutionscafeteria & catering services5345 Atlanta Hwy, Montgomery, AL 36109$1,967,840
National Management ResourcesMaintenance OutsourcingPO BOX 1224, Lagrange, GA 30241$1,292,487
Holley Marketing ConsultantsAdvertising30 PINE POINT CIRCLE, Eclectic, AL 36024$1,222,789
Efc Systems INCcomPUTER OUTSOURCING SERVICES9015 Overlook Blvd, Brentwood, TN 37027$1,102,213
Bear Brothers INCBuilding ProjectsPO BOX 2071, Montgomery, AL 36102$1,065,900
Revenue and Support

Revenue Composition

Contributions and Grants
$5,733,650
Program Service Revenue
$51,408,778
Investment Income
$528,141
Other Revenue
$440,183
All Other Contributions
$4,215,674
Change in Net Assets
$1,566,182

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table2$167,485Fair Market Value (FMV)
Securities Publicly Traded1$20,405Fair Market Value (FMV)
Collectibles5$1,475Fair Market Value (FMV)
Total Noncash Contributions8$189,365-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$22,649,160
Other Expenses$21,185,541
Grants and Similar Amounts Paid$12,709,869
Total Fundraising Expense$1,644,263
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,191,015$1,455,459$887,829$18,534,303
Grants to Domestic Individuals$12,709,869--$12,709,869
Occupancy$3,472,683$541,462$56,996$4,071,141
Depreciation Depletion$2,300,452$358,687$37,757$2,696,896
Other Employee Benefits$1,829,613$243,275$120,139$2,193,027
Information Technology$1,727,649$269,375$28,355$2,025,379
Office Expenses$1,416,184$414,820$50,369$1,881,373
Advertising$894,774$401,343$64,666$1,360,783
Payroll Taxes$1,088,777$130,209$71,492$1,290,478
Travel$678,127$45,833$42,770$766,730
Current Officers, Directors, Trustees, and Key Employees-$456,215$175,137$631,352
Other Expenses$595,636$2,806,766$-10,329$595,636
All Other Expenses$314,750$230$147$315,127
Fees for Services Other$189,679$240$20,999$210,918
Insurance$126,971--$126,971
Fees for Services Accounting-$56,950-$56,950
Conferences and Meetings$38,855$2,777$3,436$45,068
Fees for Service Investment Mgmnt Fees-$17,765-$17,765
Total Functional Expenses$47,292,970$7,607,337$1,644,263$56,544,570
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$320,330
Fundraising Gross Income$52,830
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
benefit dinner$527,948$52,830$158,699$-105,869
Total Events$527,948$52,830$320,330$-267,500
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Owner John Hill is a member of the Board of TrusteesMr. Hill's company provides the food service for the cafeteria.No$1,967,840
-Owner Ernie Chappell is a Board member & chair of the finance committeeMr. Chappell's company provides computer consultation, hardware & software services.No$1,102,213
-Owner Lamar Harrison is a member of the Board of trusteesMr. Harrison's company holds the lease for the Mobile, AL campus building. Curently operating without a lease.No$363,694
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liabilities under agency agreement$300,734

Bond Issues

BondIssuerIssuedIssue PricePurpose
AEducational Bldg Authority of City of Montgomery2016-08-31$32,036,7282016 Facilities Revenue Bond

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$32,036,728$25,355,893$200,000$640,535

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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
Yes
Business relationship with organization members
Yes
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, Part VI, Section A, line 2

Board members Phil Norton and Ted A. Norton are brothers.

Form 990, Part VI, Section B, line 11B

The Board receives a copy of Form 990 during the Fall Board Meeting. The board copy includes a redacted Schedule B per board approval to not disclose donor names and information.

Form 990, Part VI, Section B, line 12C

Board members are required to complete the Conflict of Interest Disclosure Form annually. All forms are reviewed by the Board Chair or Vice Chair and maintained in the Office of the University President.

Form 990, Part VI, Section C, line 19

The governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Faulkner University
EIN
63-0329409
Phone
3343867274
Address
5345 Atlanta Highway, Montgomery, AL 36109

Signing Officer

Name
Wilma D Phillips
Title
Vice President - Finance
Phone
3343867274
Signed
2017-09-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael D Williams
Formed
1942
Legal Domicile
Al
Voting Board Members
31
Independent Board Members
28
Employees
1,050
Volunteers
200

Preparer

Firm
Jackson Thornton & Co PC
Address
PO Box 96, Montgomery, AL 36101-0096
Preparer
Lucinda S Chappelle
Phone
3348347660
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The organization did not change it's oversight or selection process during this tax year

Financial Statement Notes

Part V, Line 4:

The endowment funds support the mission of the University.

Raw XML AppendixShowing 400 of 1,025 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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IRS990/Form990PartVIISectionAGrp/PersonNm1Mr TED A NORTON
IRS990/Form990PartVIISectionAGrp/PersonNm2Ms GLENDA MAJOR
IRS990/Form990PartVIISectionAGrp/PersonNm3Mr ROY JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm4Mr JASON AKINS
IRS990/Form990PartVIISectionAGrp/PersonNm5MR JIM CAMPBELL
IRS990/Form990PartVIISectionAGrp/PersonNm6MR ERNIE F CHAPPELL
IRS990/Form990PartVIISectionAGrp/PersonNm7MR JOSEPH W DONALDSON
IRS990/Form990PartVIISectionAGrp/PersonNm8MR MICHAEL S EUBANKS
IRS990/Form990PartVIISectionAGrp/PersonNm9MRS CARLTON L FREEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm10MR CHIP GARRETT
IRS990/Form990PartVIISectionAGrp/PersonNm11DR JOHN W HILL III
IRS990/Form990PartVIISectionAGrp/PersonNm12DR MIKE HOUTS
IRS990/Form990PartVIISectionAGrp/PersonNm13MR FRANK BUTCH JONES
IRS990/Form990PartVIISectionAGrp/PersonNm14MRS LIBBY JONES
IRS990/Form990PartVIISectionAGrp/PersonNm15MR DALE KIRKLAND
IRS990/Form990PartVIISectionAGrp/PersonNm16MR H LOUIS LESTER JR
IRS990/Form990PartVIISectionAGrp/PersonNm17Dr MANSEL LONG JR
IRS990/Form990PartVIISectionAGrp/PersonNm18Dr Henri MCDANIEL
IRS990/Form990PartVIISectionAGrp/PersonNm19Judge CAROLE MEDLEY
IRS990/Form990PartVIISectionAGrp/PersonNm20Mr Phil NORTON
IRS990/Form990PartVIISectionAGrp/PersonNm21Dr Henry A PARKER
IRS990/Form990PartVIISectionAGrp/PersonNm22Mr David PHILLIPS
IRS990/Form990PartVIISectionAGrp/PersonNm23Mr Mike Pickens
IRS990/Form990PartVIISectionAGrp/PersonNm24Mr Tim RICHARDSON
IRS990/Form990PartVIISectionAGrp/PersonNm25Dr Bud STUMBAUGH
IRS990/Form990PartVIISectionAGrp/PersonNm26Senator JABO WAGGONER
IRS990/Form990PartVIISectionAGrp/PersonNm27Mrs Anna Weeks
IRS990/Form990PartVIISectionAGrp/PersonNm28Dr Jack ZORN
IRS990/Form990PartVIISectionAGrp/PersonNm29DR MIchael D WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm30Ms Sherry Douglas
IRS990/Form990PartVIISectionAGrp/PersonNm31WILMA D PHILLIPS
IRS990/Form990PartVIISectionAGrp/PersonNm32charles nelson
IRS990/Form990PartVIISectionAGrp/PersonNm33Rosie Khadanga
IRS990/Form990PartVIISectionAGrp/PersonNm34CHARLES CAMPBELL
IRS990/Form990PartVIISectionAGrp/PersonNm35DAVE KHADANGA
IRS990/Form990PartVIISectionAGrp/PersonNm36JOSEPH LESTER
IRS990/Form990PartVIISectionAGrp/PersonNm37GERALD JONES JR
IRS990/Form990PartVIISectionAGrp/PersonNm38Billy D Hilyer
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE Board Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE-PARLIAMENTARIAN
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/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
IRS990/Form990PartVIISectionAGrp/TitleTxt27Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt28Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt29UNIVERSITY PRESIDENT

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$128$45.4$82.9$84.3$74.5$9.84
2024Detailed filing. Detailed filing data is available for this year.$115$43.2$72.2$83.6$71.3$12.3
2023Detailed filing. Detailed filing data is available for this year.$100$42.8$57.7$65.6$65.6$0.02
2022Detailed filing. Detailed filing data is available for this year.$102$43.2$58.4$70.1$66.3$3.88
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$45.4$55.5$67.1$59.9$7.23
2020Detailed filing. Detailed filing data is available for this year.$90.6$45.8$44.7$55.2$56.4$1.24
2019Detailed filing. Detailed filing data is available for this year.$88.6$40.8$47.8$55.4$55.7$0.37
2018Detailed filing. Detailed filing data is available for this year.$90.3$42.7$47.6$55.8$55.9$0.10
2017Detailed filing. Detailed filing data is available for this year.$90.9$43.4$47.5$58.1$56.5$1.57
2016Detailed filing. Detailed filing data is available for this year.$83.9$38.9$45.0$55.9$56.7$0.84
2015Detailed filing. Detailed filing data is available for this year.$88.8$41.6$47.3$55.8$55.2$0.55
2014Detailed filing. Detailed filing data is available for this year.$88.5$41.9$46.6$52.6$54.9$2.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$91.0$42.7$48.3$54.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$91.6$44.3$47.4$51.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.3$44.9$45.5$47.1