Oglethorpe University INC: FY2020 Nonprofit Profile & Form 990 (EIN 58-0568698)

Revenue by fiscal year
FY2020	$63.9M
FY2021	$78.8M
FY2022	$79.4M
FY2023	$79.6M
FY2024	$77.0M
FY2024	$81.3M

Expenses by fiscal year
FY2020	$63.0M
FY2021	$67.3M
FY2022	$75.1M
FY2023	$79.7M
FY2024	$80.2M
FY2024	$82.4M

Net assets by fiscal year
FY2020	$103.8M
FY2021	$118.8M
FY2022	$117.5M
FY2023	$119.5M
FY2024	$119.8M
FY2024	$122.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1936.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

86%

12%

Program services 86% · $54.1M Management & general 12% · $7.5M Fundraising 2% · $1.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

50 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Dr Lawrence M Schall

President/Ex-Officio

$388,429Pt VII · Sec A

Dr Glenn Sharfman

Provost and VP Academic Af

$208,913Pt VII · Sec A

Mr Dennis Kelly

Dean of Business School

$186,010Pt VII · Sec A

Ms Lucy Leusch

VP Enrollment & Financial

$150,818Pt VII · Sec A

Ms Michelle T Hall

VP, Campus Life

$143,971Pt VII · Sec A

Mr Todd Bennett

VP of Marketing and Comm

$132,582Pt VII · Sec A

Mr Michael K Rulison

Professor, Physics

$125,567Pt VII · Sec A

Mr Norman McKay

VP/Business & Finance Thru 8.23.19

$88,278Pt VII · Sec A

Kathryn McClymond’s $367K as President/ is at the 76th 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	FY2024	FY2024	FY2023	FY2022	FY2021	FY2020
Dr Lawrence M Schall	—	—	—	—	$460,791	$388,429
Dr Nicholas Ladany	—	—	$397,019	$379,255	$168,451	—
Kathryn McClymond	$367,494	$281,928	$215,994	—	—	—
Peter David Stobie	—	$291,562	$253,304	$239,739	—	—
Stobie Peter David	$286,478	—	—	—	—	—
Nicholas Ladany	—	$236,866	—	—	—	—
Juan McGruder	—	—	$230,879	$201,314	—	—
Craft Stephen	$210,279	—	—	—	—	—

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 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides educational opportunities and resources to advance knowledge and skills.

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Provided by the organization

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3 programs · $54.1M · in their own filed words · FY2019

01

Instruction

The cost of offering the academic programs.

$42.2Mprogram expense

02

Student Services

The costs of extracurricular and student-oriented services and programs designed to enhance the learning environment.

$7.9Mprogram expense

03

Auxiliary services, the costs of activities associated with the support of the campus and residential community.

$4.0Mprogram 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

The Jack Miller Center for Teaching America's Founding Principles andFY2025$10K

Folds of Honor FoundationFY2025$6K

The John Zellars JR Foundation INCFY2025$250

Total grants receivedfrom 3 funders$16K

See all 3 funders →

Grants paid · 6 grants · $225.2M · 2019–2024

Unitemized GrantFY2024$41,513,217

Unitemized GrantFY2023$40,751,006

Unitemized GrantFY2022$39,982,784

Unitemized GrantFY2021$36,948,211

Unitemized GrantFY2020$34,748,866

Unitemized GrantFY2019$31,302,983

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$63.9M

Ln 12

Fees for servicesLn 2g$59.3M

Gifts and grantsLn 1h$4.3M

Investment incomeLn 3$135K

Money outPt IX

$63.0M

Ln 25

Programscol B$54.1M

Managementcol C$7.5M

Fundraisingcol D$1.4M

Owns and owesPt X

$103.8M

net assets · Ln 32

Cash and savingsLn 1–2$1.8M

Total assetsLn 16$121.8M

LiabilitiesLn 26$18.0M

PeoplePt VI, VII

50

listed · VII A

PaidVII A9

Voting boardVI 1a41

IndependentVI 1b41

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.3M

Noncash giftsLn 1g$637K

Fees for servicesLn 2g$59.3M

Investment incomeLn 3$135K

Other incomeLn 4–11$75K

Gains on assetsLn 7−$524K

Total revenueLn 12$63.9M

Assets in detailPt X, end of year

CashLn 1$1.8M

Cash and savings togetherLn 1–2$1.8M

InvestmentsLn 11–13$36.8M

Land, buildings, equipmentLn 10c$76.2M

Other assetsLn 15$21K

Total assetsLn 16$121.8M

LiabilitiesLn 26$18.0M

Net assetsLn 32$103.8M

OperationsPt I, VI

EmployeesI 5682

VolunteersI 6153

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 FY20	End FY20
Cash and savingsLn 1–2	$273K	$1.8M
InvestmentsLn 11–13	$34.6M	$36.8M
Land, buildings, equipmentLn 10c	$76.9M	$76.2M
Total assetsLn 16	$119.8M	$121.8M
LiabilitiesLn 26	$19.4M	$18.0M
Net assetsLn 32	$100.3M	$103.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$31.3M	$31.3M
Pay of current officers, directors and key staffLn 5	$1.2M	$392K	$428K	$367K
Other salaries and wagesLn 7	$11.8M	$9.5M	$1.8M	$412K
Pension plan contributionsLn 8	$606K	$560K	$47K
Other employee benefitsLn 9	$1.1M	$978K	$100K	$67K
Payroll taxesLn 10	$910K	$737K	$164K	$9K
Legal feesLn 11b	$11K		$11K
Accounting feesLn 11c	$82K		$82K
Investment management feesLn 11f	$198K		$198K
Advertising and promotionLn 12	$569K	$569K
Information technologyLn 14	$1.4M	$370K	$940K	$58K
OccupancyLn 16	$1.4M	$1.4M
TravelLn 17	$496K	$459K	$18K	$19K
Conferences, conventions and meetingsLn 19	$165K	$134K	$17K	$15K
InterestLn 20	$369K	$289K	$80K
Depreciation, depletion and amortizationLn 22	$4.1M	$3.2M	$878K
InsuranceLn 23	$301K	$250K	$51K
Other expenses (24a–d)Ln 24	$5.2M	$3.0M	$2.1M	$129K
All other expensesLn 24e	$1.9M	$1.0M	$587K	$276K
Total functional expensesLn 25	$63.0M	$54.1M	$7.5M	$1.4M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$77.0M	$80.2M	−$3.2M	$119.8M	990 PDF
FY2023	$79.6M	$79.7M	−$108K	$119.5M	990 PDF
FY2022	$79.4M	$75.1M	$4.3M	$117.5M	990 PDF
FY2021	$78.8M	$67.3M	$11.5M	$118.8M	990 PDF
FY2020 Viewing	$63.9M	$63.0M	$892K	$103.8M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2020 990 (6 parts)

Part I · Summary $63,852,257 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,848,358$4,312,146

I-9 Program service revenuePrior year $54,581,354$59,329,333

I-10 Investment incomePrior year $1,381,647$135,483

I-11 Other revenuePrior year $42,824$75,295

I-12 Total revenuePrior year $58,854,183$63,852,257

I-13 Grants and similar amounts paidPrior year $27,181,312$31,302,983

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

I-15 Salaries and benefitsPrior year $14,831,999$15,632,092

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

I-17 Other expensesPrior year $14,677,348$16,025,021

I-18 Total expensesPrior year $56,690,659$62,960,096

I-19 Revenue less expensesPrior year $2,163,524$892,161

Part VI · Governance 41 of 41 board members independent, no flags

VI-1a Voting members of the governing body41

VI-1b Independent voting members41

VI-2 Family or business relationship among officers or directorsNo

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 $63,852,257 across 8 lines filed

Lines not itemized here account for $5,850 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$4,312,146

VIII-1g Noncash contributions (included above)$636,804

VIII-1h Total contributions, gifts and grants$4,312,146

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $59,329,333$59,329,333

VIII-3 Investment incomeExcluded from tax $659,047$659,047

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$523,564−$523,564

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $69,445$69,445

VIII-12 Total revenueRelated to mission $59,329,333 · Unrelated business $5,850 · Excluded from tax $204,928$63,852,257

Part IX · Statement of functional expenses $62,960,096 across 19 lines filed

IX-2 Grants to domestic individualsPrograms $31,302,983$31,302,983

IX-5 Pay of current officers, directors and key staffPrograms $391,664 · Management $427,753 · Fundraising $366,875$1,186,292

IX-7 Other salaries and wagesPrograms $9,545,536 · Management $1,826,615 · Fundraising $412,461$11,784,612

IX-8 Pension plan contributionsPrograms $559,673 · Management $46,635$606,308

IX-9 Other employee benefitsPrograms $977,892 · Management $99,796 · Fundraising $66,888$1,144,576

IX-10 Payroll taxesPrograms $737,199 · Management $163,855 · Fundraising $9,250$910,304

IX-11b Legal feesManagement $10,933$10,933

IX-11c Accounting feesManagement $82,000$82,000

IX-11f Investment management feesManagement $198,146$198,146

IX-12 Advertising and promotionPrograms $568,576$568,576

IX-14 Information technologyPrograms $370,257 · Management $939,836 · Fundraising $57,509$1,367,602

IX-16 OccupancyPrograms $1,350,665$1,350,665

IX-17 TravelPrograms $458,711 · Management $18,210 · Fundraising $19,058$495,979

IX-19 Conferences, conventions and meetingsPrograms $133,589 · Management $16,968 · Fundraising $14,770$165,327

IX-20 InterestPrograms $289,385 · Management $79,564$368,949

IX-22 Depreciation, depletion and amortizationPrograms $3,194,012 · Management $878,171$4,072,183

IX-23 InsurancePrograms $249,580 · Management $51,119$300,699

IX-24 Other expenses (24a–d)Programs $2,991,409 · Management $2,054,329 · Fundraising $129,348$5,175,086

IX-24e All other expensesPrograms $1,005,373 · Management $587,486 · Fundraising $276,017$1,868,876

IX-25 Total functional expensesPrograms $54,126,504 · Management $7,481,416 · Fundraising $1,352,176$62,960,096

Part X · Balance sheet $121,780,762 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $272,813$1,836,709

X-3 Pledges and grants receivableStart of year $6,983,433$5,327,839

X-4 Accounts receivableStart of year $535,701$1,042,681

X-8 Inventories for sale or useStart of year $38,554$52,381

X-9 Prepaid expenses and deferred chargesStart of year $414,843$495,483

X-10c Land, buildings and equipment, netStart of year $76,857,227$76,210,752

X-11 Publicly traded securitiesStart of year $33,771,077$36,023,358

X-12 Other securitiesStart of year $829,905$770,123

X-15 Other assetsStart of year $70,788$21,436

X-16 Total assetsStart of year $119,774,341$121,780,762

X-17 Accounts payable and accrued expensesStart of year $4,476,249$1,346,157

X-19 Deferred revenueStart of year $2,678,445$2,816,320

X-24 Unsecured notes and loans payable$2,685,700

X-25 Other liabilitiesStart of year $1,309,261$1,537,702

X-26 Total liabilitiesStart of year $19,435,024$18,001,134

X-27 Net assets without donor restrictionsStart of year $74,548,120$77,857,483

X-28 Net assets with donor restrictionsStart of year $25,791,197$25,922,145

X-32 Total net assets or fund balancesStart of year $100,339,317$103,779,628

X-33 Total liabilities and net assetsStart of year $119,774,341$121,780,762

Part XI · Reconciliation of net assets $103,779,628 net assets at year end

XI-1 Total revenue$63,852,257

XI-2 Total expenses$62,960,096

XI-3 Revenue less expenses$892,161

XI-4 Net assets at start of year$100,339,317

XI-5 Net unrealized gains (losses) on investments$2,548,150

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$103,779,628

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Oglethorpe University INC FY2020 filing

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