Patrick Henry College: FY2021 Nonprofit Profile & Form 990 (EIN 54-1919810)

Jack Haye’s $287K as President is at the 62nd percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Jack Haye	$287,277	$260,284	$241,234	$235,917	$237,142
Rodney Showalter	$125,739	$119,730	$166,880	$114,099	$112,051
Thomas Ziemnick	$154,830	$151,141	$145,644	$142,791	$141,815
N Daryl Wolking	$150,781	$148,611	$144,958	$141,887	$141,328
Mark Mitchell	$142,894	$123,316	$111,889	$111,794	$114,523
Douglas Favelo	$114,732	$122,166	$113,176	$108,791	$101,989
Scott Bedrosian	$119,285	$116,762	$115,487	—	—
Michael Haynes	—	$112,108	$112,511	$109,131	$101,853

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes
Loans to or from officersSch L · Pt II1 listed

Programs and updates

Educates Christian students in classical liberal arts for leadership roles with biblical values.

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1 program · $14.5M · in their own filed words · FY2020

01

The college has been granted accredited status from the transnational association of christian colleges (tracs). The college has been awarded the authority to grant degrees by the state council of higher education of virginia (schev). Total degree seeking student population: 323. Total students who have graduated: 1,024.

$14.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Folds of Honor FoundationFY2025$8K

Total grants receivedfrom 1 funder$8K

Grants paid · 5 grants · $23.4M · 2020–2024

Unitemized GrantFY2024$5,142,027

Unitemized GrantFY2023$4,932,295

Unitemized GrantFY2022$4,780,574

Unitemized GrantFY2021$4,207,833

Unitemized GrantFY2020$4,289,444

By the numbers

The FY2021 990, line by line.

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1The main four

Money inPt VIII

$16.7M

Ln 12

Fees for servicesLn 2g$11.7M

Gifts and grantsLn 1h$4.3M

Other incomeLn 4–11$444K

Money outPt IX

$16.3M

Ln 25

Programscol B$14.5M

Managementcol C$1.0M

Fundraisingcol D$769K

Owns and owesPt X

$38.9M

net assets · Ln 32

Cash and savingsLn 1–2$2.3M

Total assetsLn 16$40.5M

LiabilitiesLn 26$1.6M

PeoplePt VI, VII

25

listed · VII A

PaidVII A9

Voting boardVI 1a17

IndependentVI 1b16

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.3M

Government grantsLn 1e$24K

Noncash giftsLn 1g$142K

Fundraising eventsLn 1c$90K

Fees for servicesLn 2g$11.7M

Investment incomeLn 3$218K

Other incomeLn 4–11$444K

Gains on assetsLn 7$2K

Total revenueLn 12$16.7M

Assets in detailPt X, end of year

CashLn 1$1K

SavingsLn 2$2.3M

Cash and savings togetherLn 1–2$2.3M

Land, buildings, equipmentLn 10c$34.5M

Other assetsLn 15$168K

Total assetsLn 16$40.5M

LiabilitiesLn 26$1.6M

Net assetsLn 32$38.9M

OperationsPt I, VI

EmployeesI 5317

VolunteersI 613

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$2.2M	$2.3M
Land, buildings, equipmentLn 10c	$35.0M	$34.5M
Total assetsLn 16	$41.8M	$40.5M
LiabilitiesLn 26	$3.2M	$1.6M
Net assetsLn 32	$38.5M	$38.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$4.3M	$4.3M
Pay of current officers, directors and key staffLn 5	$922K	$602K	$136K	$184K
Other salaries and wagesLn 7	$4.4M	$4.0M	$254K	$109K
Pension plan contributionsLn 8	$94K	$58K	$30K	$6K
Other employee benefitsLn 9	$1.2M	$941K	$159K	$142K
Payroll taxesLn 10	$368K	$317K	$28K	$22K
Legal feesLn 11b	$28K	$24K	$3K	$846
Accounting feesLn 11c	$32K	$29K	$3K
Other fees for servicesLn 11g	$114K	$84K	$8K	$22K
Advertising and promotionLn 12	$122K	$37K	$20K	$66K
Office expensesLn 13	$105K	$54K	$8K	$43K
Information technologyLn 14	$336K	$254K	$66K	$16K
OccupancyLn 16	$1.3M	$1.1M	$124K	$30K
TravelLn 17	$65K	$55K	$4K	$7K
InterestLn 20	$4K	$4K	$436	$1
Depreciation, depletion and amortizationLn 22	$780K	$688K	$86K	$6K
Other expenses (24a–d)Ln 24	$1.7M	$1.6M	$18K	$16K
All other expensesLn 24e	$439K	$257K	$81K	$101K
Total functional expensesLn 25	$16.3M	$14.5M	$1.0M	$769K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$19.7M	$19.7M	$38K	$43.5M	990 PDF
FY2024	$20.5M	$19.0M	$1.5M	$43.4M	990 PDF
FY2023	$19.0M	$18.1M	$859K	$42.0M	990 PDF
FY2022	$19.2M	$17.0M	$2.2M	$41.1M	990 PDF
FY2021 Viewing	$16.7M	$16.3M	$435K	$38.9M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $16,723,647 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $5,047,353$4,313,806

I-9 Program service revenuePrior year $9,982,467$11,747,880

I-10 Investment incomePrior year $284,375$217,638

I-11 Other revenuePrior year $512,102$444,323

I-12 Total revenuePrior year $15,826,297$16,723,647

I-13 Grants and similar amounts paidPrior year $3,712,841$4,289,444

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $6,732,100$7,018,738

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $5,201,474$4,980,580

I-18 Total expensesPrior year $15,646,415$16,288,762

I-19 Revenue less expensesPrior year $179,882$434,885

Part VI · Governance 16 of 17 board members independent, 1 to look at

VI-1a Voting members of the governing body17

VI-1b Independent voting members16

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $16,723,647 across 12 lines filed

Lines not itemized here account for $47,717 of total revenue; see the IRS return.

VIII-1c Fundraising events$90,000

VIII-1e Government grants$23,668

VIII-1f All other contributions, gifts and grants$4,200,138

VIII-1g Noncash contributions (included above)$142,297

VIII-1h Total contributions, gifts and grants$4,313,806

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,747,880$11,747,880

VIII-3 Investment incomeExcluded from tax $215,138$215,138

VIII-6 Net rental income or lossExcluded from tax $99,487$99,487

VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,500$2,500

VIII-8 Net income from fundraising events$0

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $297,119$297,119

VIII-12 Total revenueRelated to mission $12,092,716 · Unrelated business $0 · Excluded from tax $317,125$16,723,647

Part IX · Statement of functional expenses $16,288,762 across 18 lines filed

IX-2 Grants to domestic individualsPrograms $4,289,444$4,289,444

IX-5 Pay of current officers, directors and key staffPrograms $602,267 · Management $136,053 · Fundraising $183,748$922,068

IX-7 Other salaries and wagesPrograms $4,030,137 · Management $253,839 · Fundraising $108,774$4,392,750

IX-8 Pension plan contributionsPrograms $58,387 · Management $29,948 · Fundraising $5,990$94,325

IX-9 Other employee benefitsPrograms $941,029 · Management $158,785 · Fundraising $142,277$1,242,091

IX-10 Payroll taxesPrograms $317,363 · Management $28,432 · Fundraising $21,709$367,504

IX-11b Legal feesPrograms $24,176 · Management $2,646 · Fundraising $846$27,668

IX-11c Accounting feesPrograms $28,710 · Management $3,190$31,900

IX-11g Other fees for servicesPrograms $83,607 · Management $8,382 · Fundraising $21,724$113,713

IX-12 Advertising and promotionPrograms $36,602 · Management $19,629 · Fundraising $65,593$121,824

IX-13 Office expensesPrograms $54,396 · Management $7,999 · Fundraising $42,724$105,119

IX-14 Information technologyPrograms $254,212 · Management $65,614 · Fundraising $16,065$335,891

IX-16 OccupancyPrograms $1,130,106 · Management $124,049 · Fundraising $29,816$1,283,971

IX-17 TravelPrograms $54,888 · Management $3,829 · Fundraising $6,546$65,263

IX-20 InterestPrograms $3,905 · Management $436 · Fundraising $1$4,342

IX-22 Depreciation, depletion and amortizationPrograms $687,948 · Management $86,055 · Fundraising $5,603$779,606

IX-24 Other expenses (24a–d)Programs $1,637,590 · Management $18,274 · Fundraising $16,411$1,672,275

IX-24e All other expensesPrograms $256,941 · Management $81,052 · Fundraising $101,015$439,008

IX-25 Total functional expensesPrograms $14,491,708 · Management $1,028,212 · Fundraising $768,842$16,288,762

Part X · Balance sheet $40,510,546 assets, 17 lines filed

Asset lines not itemized here account for $277,302; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $1,485$1,485

X-2 Savings and temporary cash investmentsStart of year $2,216,961$2,273,198

X-3 Pledges and grants receivableStart of year $686,073$708,394

X-4 Accounts receivableStart of year $3,189,668$2,378,334

X-8 Inventories for sale or useStart of year $84,239$90,797

X-9 Prepaid expenses and deferred chargesStart of year $70,408$126,075

X-10c Land, buildings and equipment, netStart of year $35,043,362$34,487,382

X-15 Other assetsStart of year $167,579$167,579

X-16 Total assetsStart of year $41,752,119$40,510,546

X-17 Accounts payable and accrued expensesStart of year $695,527$786,631

X-19 Deferred revenueStart of year $529,211$785,317

X-24 Unsecured notes and loans payableStart of year $2,023,668$0

X-26 Total liabilitiesStart of year $3,248,406$1,571,948

X-27 Net assets without donor restrictionsStart of year $37,232,476$37,629,113

X-28 Net assets with donor restrictionsStart of year $1,271,237$1,309,485

X-32 Total net assets or fund balancesStart of year $38,503,713$38,938,598

X-33 Total liabilities and net assetsStart of year $41,752,119$40,510,546

Part XI · Reconciliation of net assets $38,938,598 net assets at year end

XI-1 Total revenue$16,723,647

XI-2 Total expenses$16,288,762

XI-3 Revenue less expenses$434,885

XI-4 Net assets at start of year$38,503,713

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$38,938,598

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Patrick Henry College FY2021 filing

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