WILLIAM CAREY UNIVERSITY (EIN 640329300) - Form 990 Financial Analysis & Trantor Score

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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

1892

Legal Domicile

Principal Officer

DR BEN BURNETT

Phone

6013186193

Tax Period

2022-07-01 to 2023-06-30

WILLIAM CAREY UNIVERSITY, founded in 1892, is a mid-sized nonprofit that reported $93.7M in total revenue in fiscal year 2022. Net assets of $202.1M represent 26 months of operating reserves.

Mission

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.

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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 (2022)

Revenue Breakdown

Contributions & Grants $7,863,617

Program Service Revenue $82,814,676

Investment Income $1,078,959

Other Revenue $1,926,458

TOTAL REVENUE $93,683,710

Expense Breakdown

Grants Paid $14,901,213

Salaries & Benefits $43,558,000

Fundraising Expenses $579,603

Program Expenses $66,291,007

Other Expenses $34,632,844

TOTAL EXPENSES $93,092,057

Year-over-Year Comparison

	2022	2021	Change
Revenue	$93,683,710	$98,180,914	0.0%
Expenses	$93,092,057	$94,227,743	0.0%
Net Income	$591,653	$3,953,171	-0.9%

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

1299

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

$572,243

Total Directors

Key Employees

$846,103

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIMMY STEWART	TRUSTEE	0.00	Director	$0	$0	$0
CHARLES PICKERING	CHAIRMAN OF BOT	0.00	Officer Director	$0	$0	$0
TED BOWER	TRUSTEE	0.00	Director	$0	$0	$0
ODEAN BUSBY	VICE-CHAIRMAN OF BOT	0.00	Officer Director	$0	$0	$0
BRIAN DIX	TRUSTEE	0.00	Director	$0	$0	$0
GARY FORDHAM	TRUSTEE	0.00	Director	$0	$0	$0
JOEY GARNER	TRUSTEE	0.00	Director	$0	$0	$0
GARY GORDON	TRUSTEE	0.00	Director	$0	$0	$0
MACK GRUBBS	TRUSTEE	0.00	Director	$0	$0	$0
NELL HENDERSON	TRUSTEE	0.00	Director	$0	$0	$0
DAN HULL	TRUSTEE	0.00	Director	$0	$0	$0
BRETT JONES	TRUSTEE	0.00	Director	$0	$0	$0
RAYMON LEAKE	TRUSTEE	0.00	Director	$0	$0	$0
ERIC LINDSTROM	TRUSTEE	0.00	Director	$0	$0	$0
DAVID MILLICAN	TRUSTEE	0.00	Director	$0	$0	$0
BRENDA ROSS	TRUSTEE	0.00	Director	$0	$0	$0
LARUE STEPHENS	TRUSTEE	0.00	Director	$0	$0	$0
ROBERT SULLIVAN	TRUSTEE	0.00	Director	$0	$0	$0
STAN BURTON	TRUSTEE	0.00	Director	$0	$0	$0
WILLIAM RAY	TRUSTEE	0.00	Director	$0	$0	$0
JACK SIMMONS	TRUSTEE	0.00	Director	$0	$0	$0
BRETT VALENTINE	TRUSTEE	0.00	Director	$0	$0	$0
LEANDER BRIDGES	TRUSTEE	0.00	Director	$0	$0	$0
BENJAMIN BURNETT	PRESIDENT AND CHIEF EXECUT	40.00	Officer	$202,447	$16,962	$219,409
ASHLEY GUTHRIE	VICE-PRESIDENT FOR BUSINES	40.00	Officer	$122,607	$23,149	$145,756
DANIEL CALDWELL	PROFESSOR OF RELIGION; PRO	40.00	Officer	$123,828	$23,141	$146,969
CHARLOTTE GREEN	SECRETARY TO BOARD OF TRUS	40.00	Officer	$47,708	$12,401	$60,109
ITALO SUBBARAO	PROFESSOR OF CLINICAL SCIE	40.00	Key Emp	$503,152	$23,361	$526,513
JANET WILLIAMS	PROFESSOR OF NURSING; VICE	40.00	Key Emp	$174,107	$23,258	$197,365
CASSANDRA CONNER	PROFESSOR OF EDUCATION; VI	40.00	Key Emp	$109,000	$13,225	$122,225
KEITH SPEED	PROFESSOR OF CLINICAL SCIE	40.00	Highest	$256,314	$21,601	$277,915
MICHAEL MALLOY	PROFESSOR OF PHARMACY AND	40.00	Highest	$230,308	$15,612	$245,920
MELISSA STEPHENS	PROFESSOR OF CLINICAL SCIE	40.00	Highest	$223,527	$15,810	$239,337
TONYA CREECH	ASSISTANT PROFESSOR OF PRE	40.00	Highest	$240,041	$15,802	$255,843
EDWARD FRIEDLANDER	PROFESSOR OF PRECLINICAL S	40.00	Highest	$218,500	$14,782	$233,282
TIFFANY WORTHINGTON	ASSISTANT PROFESSOR OF CLI	40.00	Highest	$230,927	$15,260	$246,187
ENG HUU	ASSOCIATE PROFESSOR OF CLI	40.00	Highest	$209,728	$14,836	$224,564
DARRYLL BARKSDALE	ASSISTANT PROFESSOR OF PRE	40.00	Highest	$202,228	$14,591	$216,819
CHARLES FILLINGANE	ASSOCIATE PROFESSOR OF CLI	40.00	Highest	$202,119	$14,223	$216,342
JIM WEIR	PROFESSOR OF CLINICAL & PR	40.00	Highest	$200,080	$12,891	$212,971
JAMES MITCHELL	ASSISTANT PROFESSOR OF PRE	40.00	Highest	$200,000	$6,456	$206,456
ETHAN WORTHINGTON	ASSISTANT PROFESSOR OF CLI	40.00	Highest	$253,277	$15,260	$268,537
AJAY SHARMA	ASSOCIATE PROFESSOR OF CLI	40.00	Highest	$244,452	$14,900	$259,352
ROSALYN SCHNEIDER	PART-TIME ASST PROF CLINICAL STUDIES	40.00	Highest	$213,314	$14,035	$227,349
JOHN GAUDET	ASSOCIATE PROFESSOR OF CLI	40.00	Highest	$200,077	$14,197	$214,274
EVAN WILLIAMSON	ASSISTANT PROFESSOR OF CLI	40.00	Highest	$195,041	$14,034	$209,075
RAYMOND KING	FORMER PRESIDENT AND CHIEF	40.00		$283,385	$14,897	$298,282
ANGELA HOUSTON	FORMER ASSISTANT PROFESSOR EDUCATION	40.00		$108,889	$13,995	$122,884
BRANTLY FRYFOGLE	FORMER DIRECTOR ENTERPRISE SERV	40.00		$100,820	$14,265	$115,085

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
2024	No data	No data	No data	No data
2023	$93,683,710	$93,092,057	$251,274,445	$591,653
2022	$98,180,914	$94,227,743	$252,285,278	$3,953,171
2021	$93,416,449	$83,785,625	$258,133,608	$9,630,824
2020	$78,205,478	$75,405,911	$250,187,217	$2,799,567
2019	$71,278,420	$70,558,711	$234,575,439	$719,709

WILLIAM CAREY UNIVERSITY