Erskine College and Theological Se… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1837

Legal Domicile

Phone

8643798812

Tax Period

2024-07-01 to 2025-06-30

Erskine College and Theological Seminary, founded in 1837, is a mid-sized nonprofit in the Education sector that reported $48.0M in total revenue in fiscal year 2024.

Mission

Erskine College exists to glorify God as a Christian academic community where students are equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education.

Program Service Accomplishments

Program 1

Expenses: $39,484,097 Revenue: $37,036,513

Erskine College is a comprehensive, fully accredited, Christian college and theological seminary offering undergraduate, master's, and doctoral degrees to approximately 850 students. The college...

Erskine College is a comprehensive, fully accredited, Christian college and theological seminary offering undergraduate, master's, and doctoral degrees to approximately 850 students. The college program offers 25 baccalaureate majors, and the seminary offers 5 master's degrees and a doctor of ministry degree. Scholarships are awarded to eligible students based on financial need and academic merit allowing students to be equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education in a Christ-centered environment.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,013,998

Program Service Revenue $37,036,513

Investment Income $2,014,205

Other Revenue $903,215

TOTAL REVENUE $47,967,931

Expense Breakdown

Grants Paid $20,626,533

Salaries & Benefits $10,356,890

Fundraising Expenses $503,731

Program Expenses $39,484,097

Other Expenses $15,865,193

TOTAL EXPENSES $46,848,616

Year-over-Year Comparison

	2024	2023	Change
Revenue	$47,967,931	$46,561,297	+0.0%
Expenses	$46,848,616	$46,434,719	+0.0%
Net Income	$1,119,315	$126,578	+7.8%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

499

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$426,561

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mr CA Runyan	Trustee - Chairman	2.0	Officer Director	$0	$0	$0
Mr EP Cook	Trustee - Vice Chairman	2.0	Officer Director	$0	$0	$0
Ms MM Kiser	Trustee - Secretary	2.0	Officer Director	$0	$0	$0
Mr CM Walker Jr	Trustee	2.0	Director	$0	$0	$0
Mr JB Garrett	Trustee	2.0	Director	$0	$0	$0
Mr JT Brewer	Trustee	2.0	Director	$0	$0	$0
Mr WH Powell	Trustee	2.0	Director	$0	$0	$0
Mrs KJ Claxton	Trustee	2.0	Director	$0	$0	$0
Mrs RJ Webb	Trustee	2.0	Director	$0	$0	$0
Mrs SC Burriss	Trustee	2.0	Director	$0	$0	$0
Rev AF Shoger	Trustee	2.0	Director	$0	$0	$0
Rev DM Smith	Trustee	2.0	Director	$0	$0	$0
Rev E Ray	Trustee	2.0	Director	$0	$0	$0
Rev PD Malphrus	Trustee	2.0	Director	$0	$0	$0
Rev RF Ingram	Trustee	2.0	Director	$0	$0	$0
Dr Steve Adamson	President	45.0	Officer	$209,154	$17,882	$227,036
Mr Darrell Proffitt	VP of Finance, Treasurer	45.0	Officer	$118,124	$11,170	$129,294
Mrs NG Jones	Assistant Secretary	45.0	Officer	$57,600	$12,631	$70,231
Mr Bobby Clarke	VP Operations	40.0	Highest	$124,334	$0	$124,334

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$47,967,931	$46,848,616	$76,800,649	$1,119,315
2024	$46,561,297	$46,434,719	$73,220,738	$126,578
2023	$43,220,598	$46,303,008	$68,664,975	$-3,082,410
2022	$46,210,670	$45,170,851	$69,987,890	$1,039,819
2021	$43,903,518	$44,944,710	$80,598,505	$-1,041,192
2020	$41,912,193	$42,342,889	$74,254,576	$-430,696
2019	$28,269,833	$34,715,415	$75,442,460	$-6,445,582
2018	$32,200,268	$32,773,308	$73,377,177	$-573,040

Erskine College and Theological Seminary