Civic Intelligence

Howard Payne University

990 • Fiscal year 2021 • EIN 75-0800653

Jun 01, 2020 to May 31, 2021 • Filed on Feb 24, 2022

1000 Fisk StreetBrownwood, TX 76801

(325) 646-2502

Siviq Scores

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

Liabilities / Assets

17th percentile

0.03x

Higher debt load relative to assets than 17% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

15th percentile

0.09x

Higher debt load relative to revenue than 15% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

49th percentile

9.1%

Higher net margin than 49% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

29th percentile

$304,691

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

41st percentile

8.6%

Faster asset growth than 41% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

40th percentile

6.7%

Faster revenue growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$107,674,814

Up $8,527,494 (+8.6%) from 2020

Net Assets

Up

$104,332,866

Up $9,859,101 (+10%) from 2020

Liabilities

Down

$3,341,948

Down $1,331,607 (-28%) from 2020

Revenue

Up

$36,958,874

Up $2,314,275 (+6.7%) from 2020

Expenses

Up

$33,580,870

Up $370,087 (+1.1%) from 2020

Net Income

Up

$3,378,004

Up $1,944,188 (+136%) from 2020

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $83,451,966Liabilities 2010: $15,081,537Net Assets 2010: $68,370,4292010Assets 2011: $89,395,492Liabilities 2011: $14,812,483Net Assets 2011: $74,583,0092011Assets 2012: $89,827,755Liabilities 2012: $14,957,910Net Assets 2012: $74,869,8452012Assets 2013: $96,103,964Liabilities 2013: $14,417,803Net Assets 2013: $81,686,1612013Assets 2014: $108,853,633Liabilities 2014: $14,550,898Net Assets 2014: $94,302,7352014Assets 2015: $108,224,369Liabilities 2015: $15,356,756Net Assets 2015: $92,867,6132015Assets 2016: $100,808,120Liabilities 2016: $15,616,345Net Assets 2016: $85,191,7752016Assets 2017: $102,834,014Liabilities 2017: $14,238,393Net Assets 2017: $88,595,6212017Assets 2018: $107,373,813Liabilities 2018: $13,728,861Net Assets 2018: $93,644,9522018Assets 2019: $100,141,123Liabilities 2019: $12,498,028Net Assets 2019: $87,643,0952019Assets 2020: $99,147,320Liabilities 2020: $4,673,555Net Assets 2020: $94,473,7652020Assets 2021: $107,674,814Liabilities 2021: $3,341,948Net Assets 2021: $104,332,8662021Assets 2022: $111,822,248Liabilities 2022: $4,658,352Net Assets 2022: $107,163,8962022Assets 2023: $132,152,519Liabilities 2023: $5,615,655Net Assets 2023: $126,536,8642023Assets 2024: $146,425,234Liabilities 2024: $8,171,163Net Assets 2024: $138,254,0712024

Highlighted filing

2021

Assets$107,674,814
Liabilities$3,341,948
Net Assets$104,332,866

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $19,812,0442010Expenses 2011: $27,769,9162011Expenses 2012: $29,245,4392012Expenses 2013: $30,647,1512013Revenue 2014: $35,947,105Expenses 2014: $33,576,649Net Income 2014: $2,370,4562014Revenue 2015: $37,821,646Expenses 2015: $35,675,696Net Income 2015: $2,145,9502015Revenue 2016: $35,528,990Expenses 2016: $35,641,179Net Income 2016: -$112,1892016Revenue 2017: $36,650,087Expenses 2017: $35,948,046Net Income 2017: $702,0412017Revenue 2018: $35,023,203Expenses 2018: $34,953,141Net Income 2018: $70,0622018Revenue 2019: $34,718,179Expenses 2019: $35,310,178Net Income 2019: -$591,9992019Revenue 2020: $34,644,599Expenses 2020: $33,210,783Net Income 2020: $1,433,8162020Revenue 2021: $36,958,874Expenses 2021: $33,580,870Net Income 2021: $3,378,0042021Revenue 2022: $40,380,501Expenses 2022: $34,858,443Net Income 2022: $5,522,0582022Revenue 2023: $37,905,553Expenses 2023: $35,175,459Net Income 2023: $2,730,0942023Revenue 2024: $44,297,691Expenses 2024: $37,508,470Net Income 2024: $6,789,2212024

Highlighted filing

2021

Revenue$36,958,874
Expenses$33,580,870
Net Income$3,378,004
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Feb 24, 2022
Return Version
2020v4.2
Gross Receipts
$41,089,711
Mission and Program Overview

Mission

Howard payne university is a christ-centered academic community dedicated to excellence by developing and equipping the whole person for intellectual inquiry, personal and professional integrity, and service to god and humanity.

Howard Payne University is a Christ-centered academic community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$31,217,735$38,917,184▲ $7,699,449
Land, Buildings, and Equipment, Net$29,656,853$29,750,344▲ $93,491
Investments Other Securities$28,423,999$27,393,776▼ $1,030,223
Cash and Non-Interest-Bearing Accounts$4,048,835$5,090,929▲ $1,042,094
Savings and Temporary Cash Investments$3,677,108$5,014,982▲ $1,337,874
Investments Program Related$670,759$435,588▼ $235,171
Accounts Receivable$576,923$368,382▼ $208,541
Pledges and Grants Receivable$384,483$354,212▼ $30,271
Intangible Assets$106,480$196,121▲ $89,641
Prepaid Expenses and Deferred Charges$370,605$139,756▼ $230,849
Total Assets$99,147,320$107,674,814▲ $8,527,494
Other Assets Total$13,540$13,540→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,741,785$1,650,630▼ $91,155
Deferred Revenue$1,884,557$914,671▼ $969,886
Other Liabilities$1,047,213$776,647▼ $270,566
Total Liabilities$4,673,555$3,341,948▼ $1,331,607
Net Assets / Fund Balance
Net Assets With Donor Restrictions$70,309,911$78,398,275▲ $8,088,364
Net Assets Without Donor Restrictions$24,163,854$25,934,591▲ $1,770,737
Total Net Assets Fund Balance$94,473,765$104,332,866▲ $9,859,101
Total Liabilities and Net Assets / Fund Balance$99,147,320$107,674,814▲ $8,527,494

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,614,808$21,758,011$46,372,819
Equipment$543,759$5,801,019$6,344,778
Land$3,443,583-$3,443,583
Other Land Buildings$1,148,194$1,903,470$3,051,664
Other Securities$1,063,196--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$34,047,996$697,168▲ $8,201,645-$41,129,187
2019$33,309,367$283,153▲ $2,241,054-$34,047,996
2018$33,746,882$1,419,235▲ $549,727-$33,309,367
2017$32,056,553$482,908▲ $2,912,037-$33,746,882
2016$30,706,712$320,502▲ $3,706,533-$32,056,553
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Cory HinesPresidentFT$200,721$103,970$304,691
Billy FishbackAssistant VP for BusinessFT$117,437$26,419$143,856
Mike RodgersCFO/VP Finance & AdminFT$123,741$17,242$140,983
Dr Dale MeineckeVP for DevelopmentFT$116,735$19,800$136,535
Dr Nina OuimetteDean, School of NursingFT$109,816$22,899$132,715

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo Inc & AffiliatesFood ServicePO Box 538922, Atlanta, GA 30353$844,882
HighGround AdvisorsInvestment Services1717 Main St Ste 1400, Dallas, TX 75201$668,290
Waldrop ConstructionConstructionPO Box 1000, Brownwood, TX 76804$335,675
Ruffalo Noel LevitzAdmissions ConsultingPO Box 718, Des Moines, IA 50303$202,499
Quorum Architects IncArchitecture Fees825 W Vickery Blvd Ste 100, Fort Worth, TX 76104$165,382
Revenue and Support

Revenue Composition

Contributions and Grants
$7,798,891
Program Service Revenue
$24,036,620
Investment Income
$5,113,413
Other Revenue
$9,950
All Other Contributions
$3,098,347
Change in Net Assets
$3,378,004

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
Securities Publicly Traded1$64,471Market Value
Total Noncash Contributions1$64,471-

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,829,508
Revenue Not Reported on Financial Statements
$12,129,366
Revenue Not Reported on Form 990
$6,481,097
Other Revenue Adjustments
$11,625,254
Total Revenue per Audited Statements
$31,310,605
Total Revenue per Form 990
$36,958,874
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,185,643
Salaries, Compensation, and Employee Benefits$10,936,159
Other Expenses$10,459,068
Total Fundraising Expense$558,795
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$12,185,643--$12,185,643
Other Salaries and Wages$6,754,325$1,400,961$255,225$8,410,511
Occupancy$2,117,959$121,826-$2,239,785
Depreciation Depletion$1,238,535$153,613-$1,392,148
Other Employee Benefits$692,619$202,831$25,075$920,525
Payroll Taxes$504,178$104,177$20,138$628,493
Information Technology$233,933$287,536$34,382$555,851
Fees for Service Investment Mgmnt Fees-$504,112-$504,112
Current Officers, Directors, Trustees, and Key Employees-$365,533$97,389$462,922
Other Expenses$368,046$92,431$16,610$460,477
Insurance$13,092$381,527-$394,619
Pension Plan Contributions$291,334$82,812$10,617$384,763
Office Expenses$145,560$156,182$49,057$350,799
Fees for Services Other$220,749$43,105-$263,854
Travel$198,875$15,827$10,073$224,775
Advertising$80,792$79,193$5,688$165,673
Comp Disqual Persons$109,778-$19,167$128,945
All Other Expenses$121,330--$121,330
Fees for Services Accounting-$60,451-$60,451
Fees for Services Legal-$52,000-$52,000
Interest$6,619$4,816-$11,435
Total Functional Expenses$28,300,218$4,721,857$558,795$33,580,870

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$33,580,870
Expenses per Audited Statements$21,451,504
Total Expenses per Audited Statements$21,451,504
Expenses Not Reported on Financial Statements$12,129,366
Other Expense Adjustments$11,625,254
Expenses Not Reported on Form 990$0
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kylah Clark GoffFamily Member of Keith Clark, TrusteeWagesNo$65,318
Jill UnderwoodFamily Member of Leonard Underwood, TrusteeWagesNo$38,860
-Family Member of David Lowrie, TrusteeWagesNo$19,167
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds held for loan programs$512,308
Capital lease payable$216,899
Reserve for split-interest liability$47,440
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
Yes
Business relationship with organization members
No
Material changes to governing documents
Yes
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, Part VI, Section A, line 1

The Executive Committee shall have all power and authority of the board, except as restricted by the bylaws. The Executive Committee consists of the President as an ex-officio member, the Chairperson, the two Vice Chairpersons, Secretary of the board, the Chairperson of each standing committee, and seven other board members. All business conducted by the Executive Committee is reported in full at the next regular board meeting.

Form 990, Part VI, Section A, line 4

The organization's bylaws have been amended to include the organization's mission statement, approved by the board of trustees in 2010, and the organization's vision statement and core values, approved by the board of trustees in 2016.

Form 990, Part VI, Section A, line 7A

The Baptist General Convention of Texas (BGCT), a related organization, nominates half plus one of the total trustees to the board.

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

The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the CFO before it is provided to the board's finance committee. A full copy of the 990 is shared with the board prior to filing with the IRS.

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

The University maintains a board-adopted conflict of interest policy. Trustees and officers are required to annually disclose potential conflicts of interest. The University monitors and enforces compliance with the policy by publishing it on the employee intranet, limiting business dealings with related parties, and discouraging activities that might be perceived as a conflict of interest. The University business office and CFO are charged with monitoring and enforcing compliance with the policy. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.

Form 990, Part VI, Section B, line 15

The compensation for the University's President is recommended by a special committee consisting of independent members of the board of trustees. Years of experience, performance, and the review of comparative data of similiar universities are taken into consideration when determining the President's compensation. The board deliberates regarding the President's compensation in executive session, and this is recorded in the minutes. Compensation for other officers is established by the President, based on years of experience, performance, and comparable data of like positions in similar universities. Decisions are documented in the human resources files.

Form 990, Part VI, Section C, line 19

The University's primary governing documents are on file with the Texas Secretary of State and are publicly available. The conflict of interest policy and financial statements are made available in accordance with applicable law.

Filing and Contact Details

Filer

Filer Name
Howard Payne University
EIN
75-0800653
Phone
3256462502
Address
1000 Fisk Street, Brownwood, TX 76801

Signing Officer

Name
Mike Rodgers
Title
CFO/VP for Finance
Phone
3256462502
Signed
2022-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Cory Hines
Formed
1889
Legal Domicile
TX
Voting Board Members
35
Independent Board Members
32
Employees
575
Volunteers
75

Preparer

Firm
Capin Crouse LLP
Address
5605 N MacArthur Blvd Suite 210, Irving, TX 75038
Preparer
Daren Daiga
Phone
5055022746
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Change in value of perpetual trusts 3,380,722. Change in value of split interest agreements 216,442.

Financial Statement Notes

Part III, Line 4:

The University has a painting as well as a collection of books and memorabilia displayed for students and other campus visitors to see, and those items have an educational purpose.

Part V, Line 4:

The intended use of endowment funds is to provide a permanent revenue stream for scholarships and academic programs.

Part XI, Line 2D - Other Adjustments:

Change in value of perpetual trusts 3,380,722. Change in value of split interest agreements 216,442.

Part XI, Line 4B - Other Adjustments:

Student financial assistance 11,625,254.

Part XII, Line 4B - Other Adjustments:

Student financial assistance 11,625,254.

Sch. D, Part V, Lines 2A-2C

In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 5/31/21. The 2020 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions

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IRS990/Desc0Post-Secondary Education InstructionHoward Payne University offers a full array of undergraduate programs and five graduate programs in a traditional residential academic community. The university also offers selected undergraduate and graduate course work by electronic means and at extended learning centers in El Paso and New Braunfels. Students at HPU choose from more than 100 majors, minors and pre-professional programs in seven schools: Business, Christian Studies, Education, Humanities, Music and Fine Arts, Nursing, and Science and Mathematics. The Guy D. Newman Honors Academy challenges students with a multidisciplinary curriculum and exciting travel opportunities.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Deborah Cartwright
IRS990/Form990PartVIISectionAGrp/PersonNm1Ronnie D Andrews
IRS990/Form990PartVIISectionAGrp/PersonNm2Robert Morrison
IRS990/Form990PartVIISectionAGrp/PersonNm3Marc Dingler
IRS990/Form990PartVIISectionAGrp/PersonNm4Greg Bruner
IRS990/Form990PartVIISectionAGrp/PersonNm5Keith Clark
IRS990/Form990PartVIISectionAGrp/PersonNm6Rev LJ Clayton
IRS990/Form990PartVIISectionAGrp/PersonNm7Jane A Collette
IRS990/Form990PartVIISectionAGrp/PersonNm8Lance Currie
IRS990/Form990PartVIISectionAGrp/PersonNm9Gary Davis
IRS990/Form990PartVIISectionAGrp/PersonNm10Daniel Deviney
IRS990/Form990PartVIISectionAGrp/PersonNm11Steve Ellis
IRS990/Form990PartVIISectionAGrp/PersonNm12Dr Brent Grentzel
IRS990/Form990PartVIISectionAGrp/PersonNm13Dr W Wayne Grant
IRS990/Form990PartVIISectionAGrp/PersonNm14Dwayne Grooms
IRS990/Form990PartVIISectionAGrp/PersonNm15Sharon Guthrie
IRS990/Form990PartVIISectionAGrp/PersonNm16Gary Hopkins
IRS990/Form990PartVIISectionAGrp/PersonNm17Allan Hough
IRS990/Form990PartVIISectionAGrp/PersonNm18Jim Jones
IRS990/Form990PartVIISectionAGrp/PersonNm19Randy Lewallyn
IRS990/Form990PartVIISectionAGrp/PersonNm20Dr David Lowrie
IRS990/Form990PartVIISectionAGrp/PersonNm21Dr Ronny Marriott
IRS990/Form990PartVIISectionAGrp/PersonNm22Darrell Miles
IRS990/Form990PartVIISectionAGrp/PersonNm23Jake Montoya
IRS990/Form990PartVIISectionAGrp/PersonNm24Dr Bernardo Bernie Moraga
IRS990/Form990PartVIISectionAGrp/PersonNm25Matthew T Preston
IRS990/Form990PartVIISectionAGrp/PersonNm26Roy Robb
IRS990/Form990PartVIISectionAGrp/PersonNm27David Robnett
IRS990/Form990PartVIISectionAGrp/PersonNm28Daniel Sanchez
IRS990/Form990PartVIISectionAGrp/PersonNm29James Schmeltekopf
IRS990/Form990PartVIISectionAGrp/PersonNm30Carter Sharpe
IRS990/Form990PartVIISectionAGrp/PersonNm31Rev Candy Smith
IRS990/Form990PartVIISectionAGrp/PersonNm32Jonathan Jonny Snow
IRS990/Form990PartVIISectionAGrp/PersonNm33Rev Ray Still
IRS990/Form990PartVIISectionAGrp/PersonNm34Kenneth Stimson
IRS990/Form990PartVIISectionAGrp/PersonNm35Dr Bill Taylor Sr
IRS990/Form990PartVIISectionAGrp/PersonNm36Dr Leonard Underwood
IRS990/Form990PartVIISectionAGrp/PersonNm37Lee Wilson
IRS990/Form990PartVIISectionAGrp/PersonNm38Lesley C Wyse
IRS990/Form990PartVIISectionAGrp/PersonNm39Dr Cory Hines
IRS990/Form990PartVIISectionAGrp/PersonNm40Mike Rodgers
IRS990/Form990PartVIISectionAGrp/PersonNm41Billy Fishback
IRS990/Form990PartVIISectionAGrp/PersonNm42Dr Dale Meinecke
IRS990/Form990PartVIISectionAGrp/PersonNm43Dr Nina Ouimette
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt1First Vice Chairperson

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$146$8.17$138$44.3$37.5$6.79
2023Detailed filing. Detailed filing data is available for this year.$132$5.62$127$37.9$35.2$2.73
2022Detailed filing. Detailed filing data is available for this year.$112$4.66$107$40.4$34.9$5.52
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$108$3.34$104$37.0$33.6$3.38
2020Detailed filing. Detailed filing data is available for this year.$99.1$4.67$94.5$34.6$33.2$1.43
2019Detailed filing. Detailed filing data is available for this year.$100$12.5$87.6$34.7$35.3$0.59
2018Detailed filing. Detailed filing data is available for this year.$107$13.7$93.6$35.0$35.0$0.07
2017Detailed filing. Detailed filing data is available for this year.$103$14.2$88.6$36.7$35.9$0.70
2016Detailed filing. Detailed filing data is available for this year.$101$15.6$85.2$35.5$35.6$0.11
2015Detailed filing. Detailed filing data is available for this year.$108$15.4$92.9$37.8$35.7$2.15
2014Detailed filing. Detailed filing data is available for this year.$109$14.6$94.3$35.9$33.6$2.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.1$14.4$81.7$30.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.8$15.0$74.9$29.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.4$14.8$74.6$27.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.5$15.1$68.4$19.8