Civic Intelligence

William Carey University

EIN 64-0329300 • 501(c)3 • Hattiesburg, MS

Profile

As a christian university which embraces its baptist heritage and namesake, william carey university provides quality educational programs, within a caring christian academic community, which challenge the individual student to excel in scholarship, leadership, and service in a diverse global society.

710 William Carey ParkwayHattiesburg, MS 39401

wmcarey.edu

Siviq Scores

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

Liabilities / Assets

38th percentile

0.19x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

47th percentile

0.44x

Higher debt load relative to revenue than 47% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

73rd percentile

14%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

33rd percentile

$578,525

Higher top officer pay than 33% of similar nonprofits.

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

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

60th percentile

8.1%

Faster asset growth than 60% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

78th percentile

23%

Faster revenue growth than 78% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$271,691,266

Up $20,416,821 (+8.1%) from 2023

Liabilities

Up

$50,496,310

Up $1,328,437 (+2.7%) from 2023

Net Assets

Up

$221,194,956

Up $19,088,384 (+9.4%) from 2023

Revenue

Up

$114,883,434

Up $21,199,724 (+23%) from 2023

Expenses

Up

$98,926,670

Up $5,834,613 (+6.3%) from 2023

Net Income

Up

$15,956,764

Up $15,365,111 (+2597%) from 2023

Trend Graphs

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $105,172,694Liabilities 2011: $40,839,861Net Assets 2011: $64,332,8332011Assets 2012: $109,056,071Liabilities 2012: $39,847,919Net Assets 2012: $69,208,1522012Assets 2013: $114,158,287Liabilities 2013: $40,596,743Net Assets 2013: $73,561,5442013Assets 2014: $121,354,476Liabilities 2014: $39,431,467Net Assets 2014: $81,923,0092014Assets 2015: $114,328,832Liabilities 2015: $24,111,646Net Assets 2015: $90,217,1862015Assets 2016: $122,058,537Liabilities 2016: $23,755,680Net Assets 2016: $98,302,8572016Assets 2017: $190,208,407Liabilities 2017: $34,176,593Net Assets 2017: $156,031,8142017Assets 2018: $234,163,500Liabilities 2018: $45,079,359Net Assets 2018: $189,084,1412018Assets 2019: $234,575,439Liabilities 2019: $43,644,275Net Assets 2019: $190,931,1642019Assets 2020: $250,187,217Liabilities 2020: $60,742,169Net Assets 2020: $189,445,0482020Assets 2021: $258,133,608Liabilities 2021: $56,010,403Net Assets 2021: $202,123,2052021Assets 2022: $252,285,278Liabilities 2022: $52,075,991Net Assets 2022: $200,209,2872022Assets 2023: $251,274,445Liabilities 2023: $49,167,873Net Assets 2023: $202,106,5722023Assets 2024: $271,691,266Liabilities 2024: $50,496,310Net Assets 2024: $221,194,9562024

Highlighted filing

2024

Assets$271,691,266
Liabilities$50,496,310
Net Assets$221,194,956

Operations Trend

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

$150M$100M$50M$0Expenses 2011: $38,552,1622011Expenses 2012: $42,288,3402012Revenue 2013: $51,574,580Expenses 2013: $47,036,188Net Income 2013: $4,538,3922013Revenue 2014: $57,828,109Expenses 2014: $50,244,871Net Income 2014: $7,583,2382014Revenue 2015: $60,234,272Expenses 2015: $50,999,348Net Income 2015: $9,234,9242015Revenue 2016: $62,116,323Expenses 2016: $54,295,987Net Income 2016: $7,820,3362016Revenue 2017: $59,401,000Expenses 2017: $58,402,465Net Income 2017: $998,5352017Revenue 2018: $69,033,553Expenses 2018: $64,596,234Net Income 2018: $4,437,3192018Revenue 2019: $71,278,420Expenses 2019: $70,558,711Net Income 2019: $719,7092019Revenue 2020: $78,205,478Expenses 2020: $75,405,911Net Income 2020: $2,799,5672020Revenue 2021: $93,416,449Expenses 2021: $83,785,625Net Income 2021: $9,630,8242021Revenue 2022: $98,180,914Expenses 2022: $94,227,743Net Income 2022: $3,953,1712022Revenue 2023: $93,683,710Expenses 2023: $93,092,057Net Income 2023: $591,6532023Revenue 2024: $114,883,434Expenses 2024: $98,926,670Net Income 2024: $15,956,7642024

Highlighted filing

2024

Revenue$114,883,434
Expenses$98,926,670
Net Income$15,956,764

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$272$50.5$221$115$98.9$16.0
2023Detailed filing. Detailed filing data is available for this year.$251$49.2$202$93.7$93.1$0.59
2022Detailed filing. Detailed filing data is available for this year.$252$52.1$200$98.2$94.2$3.95
2021Detailed filing. Detailed filing data is available for this year.$258$56.0$202$93.4$83.8$9.63
2020Detailed filing. Detailed filing data is available for this year.$250$60.7$189$78.2$75.4$2.80
2019Detailed filing. Detailed filing data is available for this year.$235$43.6$191$71.3$70.6$0.72
2018Detailed filing. Detailed filing data is available for this year.$234$45.1$189$69.0$64.6$4.44
2017Detailed filing. Detailed filing data is available for this year.$190$34.2$156$59.4$58.4$1.00
2016Detailed filing. Detailed filing data is available for this year.$122$23.8$98.3$62.1$54.3$7.82
2015Detailed filing. Detailed filing data is available for this year.$114$24.1$90.2$60.2$51.0$9.23
2014Detailed filing. Detailed filing data is available for this year.$121$39.4$81.9$57.8$50.2$7.58
2013Summary only. Only limited summary data is available for this year.$114$40.6$73.6$51.6$47.0$4.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$39.8$69.2$42.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$40.8$64.3$38.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 7, 2025
Return Version
2023v6.0
Gross Receipts
$115,935,983
Mission and Program Overview

Mission

William Carey University provides a quality education challenging students to excel in scholarship, leadership, and service in a caring community rooted in Christian values and its Baptist namesake.

As a christian university which embraces its baptist heritage and namesake, william carey university provides quality educational programs within a caring christian academic community, which challenge the individual student to excel in scholarship, leadership, and service in a diverse global society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$184,146,059$191,051,992▲ $6,905,933
Investments in Publicly Traded Securities$30,896,692$42,262,357▲ $11,365,665
Savings and Temporary Cash Investments$14,997,992$19,026,444▲ $4,028,452
Accounts Receivable$6,893,861$9,558,284▲ $2,664,423
Cash and Non-Interest-Bearing Accounts$9,988,458$5,126,153▼ $4,862,305
Prepaid Expenses and Deferred Charges$225,587$77,254▼ $148,333
Other Notes and Loans Receivable, Net$22,975$26,549▲ $3,574
Total Assets$251,274,445$271,691,266▲ $20,416,821
Other Assets Total$4,102,821$4,562,233▲ $459,412
Liabilities
Mortgage Notes Payable Secured by Investment Property$42,229,564$41,084,728▼ $1,144,836
Accounts Payable and Accrued Expenses$3,731,671$5,929,095▲ $2,197,424
Deferred Revenue$3,168,371$3,475,756▲ $307,385
Other Liabilities$38,267$6,731▼ $31,536
Total Liabilities$49,167,873$50,496,310▲ $1,328,437
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$171,163,752$179,720,052▲ $8,556,300
Net Assets With Donor Restrictions$30,942,820$41,474,904▲ $10,532,084
Total Net Assets Fund Balance$202,106,572$221,194,956▲ $19,088,384
Total Liabilities and Net Assets / Fund Balance$251,274,445$271,691,266▲ $20,416,821

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$154,293,858$45,690,954$199,984,812
Equipment$7,707,511$34,150,069$41,857,580
Other Land Buildings$15,463,466$7,713,296$23,176,762
Land$13,587,157-$13,587,157
Leasehold Improvements$0$159,192$159,192

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$30,896,692$8,784,312▲ $4,072,326-$42,262,358
2022$28,399,508$709,043▲ $2,102,493-$30,896,692
2021$27,225,422$6,480,708▼ $4,726,414-$28,399,508
2020$22,412,126$938,196▲ $4,965,979-$27,225,422
2019$21,123,449$462,751▲ $835,648-$22,412,126
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Italo R SubbaraoProfessor of Clinical Sciences and Dean of CollegeFT$555,027$23,498$578,525
Italo R SubbaraoProfessor of Clinical Sciences and D-$550,000$28,525$578,525
Benjamin C BurnettProfessor of Education and President and Chief ExeFT$297,510$11,665$309,175
Benjamin C BurnettProfessor of Education and President-$292,233$16,942$309,175
Ajay SharmaFACULTY POSITION FOR CLINICAL SCIENCES; DIRECTORFT$289,162$15,984$305,146
Ajay SharmaFaculty Position for Clinical Scienc-$284,135$21,011$305,146
Tiffany WorthingtonAssociate Professor of Clinical Sciences and AssocFT$265,277$16,148$281,425
Tiffany WorthingtonAssociate Professor of Clinical Scie-$260,250$21,175$281,425
Ethan B WorthingtonAssociate Professor of Clinical Sciences and ChairFT$259,460$15,725$275,185
Ethan B WorthingtonAssociate Professor of Clinical Scie-$254,433$20,752$275,185
Tonya Grace CreechFormer Associate Professor of Clinical Sciences anFT$240,604$17,147$257,751
Tonya Grace CreechFormer Associate Professor of Clinic-$235,563$22,188$257,751
Michael John MalloyFormer Professor of Pharmacy and Dean of PharmacyFT$236,597$16,734$253,331
Michael John MalloyFormer Professor of Pharmacy and Dea-$231,368$21,963$253,331
Edward Robert FriedlanderProfessor of Preclinical SciencesFT$213,500$20,919$234,419
Eng T HuuAssociate Professor of Clinical SciencesFT$209,716$16,096$225,812
Eng T HuuAssociate Professor of Clinical Scie-$204,500$21,312$225,812
Darryll W BarksdaleAssistant Professor of Clinical SciencesFT$202,229$15,718$217,947
Darryll W BarksdaleAssistant Professor of Clinical Scie-$197,000$20,947$217,947
Sam FillinganeAssociate Professor of Clinical SciencesFT$202,229$14,569$216,798
Sam FillinganeAssociate Professor of Clinical Scie-$197,000$19,798$216,798
John W GaudetAssociate Professor of Clinical SciencesFT$200,077$14,377$214,454
John W GaudetAssociate Professor of Clinical Scie-$195,000$19,454$214,454
Evan R WilliamsonAssistant Professor of Clinical SciencesFT$195,041$14,184$209,225
Evan R WilliamsonAssistant Professor of Clinical Scie-$190,000$19,225$209,225
Melissa Renee StephensPart Time Professor of Clinical Sciences and AssocFT$198,146$10,516$208,662
Melissa Renee StephensPart Time Professor of Clinical Scie-$196,522$12,140$208,662
James M MitchellAssistant Professor of Clinical SciencesFT$200,000$6,456$206,456
James M MitchellAssistant Professor of Clinical Scie-$195,000$11,456$206,456
Brian ZachariahAssociate Professor of Clinical SciencesFT$187,119$13,761$200,880
Brian ZachariahAssociate Professor of Clinical Scie-$182,000$18,880$200,880
Makayla L MerrittAssistant Professor of Clinical Sciences and AssisFT$187,226$13,462$200,688
Makayla L MerrittAssistant Professor of Clinical Scie-$183,880$16,808$200,688
Everett a RoarkProfessor of Preclinical Sciences and Associate DeFT$180,830$18,563$199,393
Everett a RoarkProfessor of Preclinical Sciences an-$176,543$22,850$199,393
Janet K WilliamsProfessor of Nursing and Vice President of HealthFT$174,124$23,577$197,701
Janet K WilliamsProfessor of Nursing and Vice Presid-$168,895$28,806$197,701
Daniel P CaldwellProvostFT$137,389$27,408$164,797
Grant GuthrieVice President for Business Affairs and Chief FinaFT$132,153$23,287$155,440
Grant GuthrieVice President for Business Affairs-$128,571$26,869$155,440
Kenneth B HisleyFormer Professor of Preclinical Sciences and DirecFT$136,023$13,091$149,114
Kenneth B HisleyFormer Professor of Preclinical Scie-$132,333$16,781$149,114
Cassandra L ConnerPROFESSOR OF EDUCATION: VICE PRESIDENT OF TRADITIOFT$113,095$14,305$127,400
Cassandra L ConnerPROFESSOR OF EDUCATION: VICE PRESIDE-$110,200$17,200$127,400
Charlotte R GreenAssistant to the PresidentFT$51,641$13,268$64,909

Board Members and Trustees

NameTitle
Odean BusbyChairman of Bot
William RayVice-chairman of Bot
Alan SudduthTrustee
Brenda RossTrustee
Brent ParekerTrustee
Brett JonesTrustee
Brett ValentineTrustee
Brian DixTrustee
Charles PickeringTrustee
Dan HullTrustee
Eric LinstromTrustee
Gary GordonTrustee
Gary ShowsTrustee
Jack SimmonsTrustee
Joey GarnerTrustee
Larue StephenTrustee
Leander BridgesTrustee
Nell HendersonTrustee
Phil HanberryTrustee
Raymon LeakeTrustee
Robert DonnellTrustee
Stan BurtonTrustee
Ted BowerTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Mmi Dining Systems LLCFood Services1000 RED FERN PLACE, Flowood, MS 39232$2,343,966
Hanco CorporationConstruction ServicesP O BOX 17678, Hattiesburg, MS 39404$1,118,051
Approved Colleges LLCRecruiting ServicesP O BOX 458, Monterey, VA 24465$935,885
Barnes & Noble BookstoreBookstore ServicesP O BOX 713660, Philadephia, PA 19171-3660$785,123
Professional SecuritySecurity Services2 THOMAS LANE, Hattiesburg, MS 39402$726,536
Revenue and Support

Revenue Composition

Contributions and Grants
$21,483,200
Program Service Revenue
$88,040,671
Investment Income
$4,366,921
Other Revenue
$992,642
All Other Contributions
$13,427,730
Change in Net Assets
$15,956,764

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 AmountValuation Method
Works of Art1$1,000Fair Market Value (FMV)
Total Noncash Contributions1$1,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$98,274,633
Revenue Not Reported on Financial Statements
$16,608,801
Revenue Not Reported on Form 990
$3,467,373
Other Revenue Adjustments
$16,608,801
Total Revenue per Audited Statements
$101,742,006
Total Revenue per Form 990
$114,883,434
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$45,219,479
Other Expenses$37,098,390
Grants and Similar Amounts Paid$16,608,801
Total Fundraising Expense$764,385
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$30,078,294$5,277,432$226,426$35,582,152
Grants to Domestic Individuals$16,608,801--$16,608,801
Fees for Services Other$6,368,363$2,110,493$91,117$8,569,973
Depreciation Depletion-$6,120,843-$6,120,843
Other Employee Benefits$3,330,942$992,530$41,391$4,364,863
Occupancy$3,539$3,188,608-$3,192,147
Payroll Taxes$2,103,586$401,458$15,455$2,520,499
Travel$2,076,475$105,845$3,351$2,185,671
Insurance$371,764$1,744,558-$2,116,322
Pension Plan Contributions$1,228,883$319,494$8,586$1,556,963
Current Officers, Directors, Trustees, and Key Employees$835,285$359,717-$1,195,002
Interest-$1,077,052-$1,077,052
Advertising$194,410$732,755$4,536$931,701
Conferences and Meetings$584,411$186,397$9,805$780,613
Other Expenses$736,491$155,196$7,814$736,491
All Other Expenses$402,822--$402,822
Office Expenses$270,634$61,104$31,708$363,446
Information Technology$124,709$234,774-$359,483
Total Functional Expenses$71,694,492$26,467,793$764,385$98,926,670

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$98,926,670
Total Expenses per Audited Statements$82,653,622
Expenses per Audited Statements$82,317,869
Expenses Not Reported on Financial Statements$16,608,801
Other Expense Adjustments$16,608,801
Expenses Not Reported on Form 990$335,753
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$335,747
Fundraising Gross Income$132,540
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinners$404,412$70,375$9,253$61,122
Golf Tournament$60,100$52,515$510$52,005
Total Events$482,832$132,540$335,747$-203,207
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-VendorCafeteria ServicesNo$2,343,966
-VendorConstruction ServicesNo$1,118,051
-VendorThe Owner of the Company, Tec, Providing Information Technology Services to the Organization Is a Member of the Board of Trustees.No$104,202
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Leases Payable$6,731
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
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
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, Part VI, Section B, Line 11B

Line 11a explanation - a copy of form 990 is presented in person, mailed, or emailed to each board member for review prior to filing. The return must be reviewed by the board before it is filed with the irs.

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

Each trustee, officer, and key employee must sign a conflict of interest certification each year. Each certification is reviewed by the appropriate body (administration or governing board), and matters requiring resolution are researched, discussed, and acted upon as needed to ensure the necessary disclosure and avoidance of conflicts of interest.

Form 990, Part VI, Section B, Line 15A

The executive committee serves as the compensation committee and meets annually regarding the chief executive's compensation. This committee often determines the compensation of the president based on comparability data from other universities of similar size and deliberation among the members. After the committee reaches a conclusion, they make a recommendation to the trustees. The trustees then discuss and vote on the recommendation of the committee. All discussions concerning executive compensation are recorded in the minutes of the meetings for substantiation purposes.

Form 990, Part VI, Section C, Line 19

The financial statements and tax returns are available by requesting a copy from the business office through the cfo, the candid website, or university's website. Conflict of interest policy and other governing documents are available to all employees on our internal website. These are available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
William Carey University
EIN
64-0329300
Phone
6013186193
Address
710 WILLIAM CAREY PARKWAY, HATTIESBURG, MS 39401

Signing Officer

Name
Grant Guthrie
Title
VP Business & CFO
Phone
6013186193
Signed
2025-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Ben Burnett
Formed
1892
Legal Domicile
Ms
Voting Board Members
23
Independent Board Members
23
Employees
1,341
Volunteers
32

Preparer

Firm
Tmh
Address
P O DRAWER 15099, HATTIESBURG, MS 39404-5099
Preparer
Paige M Johnson CPA
Phone
6012643519
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING -6.

FORM 990, PART XII, LINE 2C:

Process has not changed from prior year.

Financial Statement Notes

PART II, LINE 9:

Nature reserve reported as "land" on the balance sheet.

PART III, LINE 4:

The collection consists of art from the lucille parker collection and the sarah gillespie museum; rare books, artifacts, art, manuscripts in the center for the study of the life and work of william carey; and rare books, artifacts, furniture, art, and manuscripts from the dickinson collection. The above collections further william carey university's mission as an exempt organization by providing resources for scholarly research, preserving art for appreciation and study in an educational context, and gathering materials together in order to make them available to a broader community.

PART V, LINE 4:

Endowment is primarily used to fund scholarships, academic program activities, professorial chairs, and general operations.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses reported net 335,747. Rounding

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Institutional student aid expenditure included in tuition revenue 16,608,801.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses reported net 335,747. Rounding 6.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Institutional student aid expenditure included in tuition revenue 16,608,801.

Raw XML AppendixShowing 400 of 1,350 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/ActivityOrMissionDesc0AS A CHRISTIAN UNIVERSITY WHICH EMBRACES ITS BAPTIST HERITAGE AND NAMESAKE, WILLIAM CAREY UNIVERSITY PROVIDES QUALITY EDUCATIONAL PROGRAMS WITHIN A CARING CHRISTIAN ACADEMIC COMMUNITY, WHICH CHALLENGE THE INDIVIDUAL STUDENT TO EXCEL IN SCHOLARSHIP, LEADERSHIP, AND SERVICE IN A DIVERSE GLOBAL SOCIETY.
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0710 WILLIAM CAREY PARKWAY
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