Oglethorpe University INC: FY2024 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
FY2025	$81.3M

Expenses by fiscal year
FY2020	$63.0M
FY2021	$67.3M
FY2022	$75.1M
FY2023	$79.7M
FY2024	$80.2M
FY2025	$82.4M

Net assets by fiscal year
FY2020	$103.8M
FY2021	$118.8M
FY2022	$117.5M
FY2023	$119.5M
FY2024	$119.8M
FY2025	$122.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. 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%

13%

Program services 86% · $68.6M Management & general 13% · $10.1M Fundraising 2% · $1.5M

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

34 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Peter David Stobie

Senior VP COO CFO

$291,562Pt VII · Sec A

Kathryn McClymond

President/Ex-Officio

$281,928Pt VII · Sec A

Nicholas Ladany

Ex-President/Ex-Officio

$236,866Pt VII · Sec A

Stephen Craft

Dean of the Hammack Business School

$205,954Pt VII · Sec A

Rebecca Sandidge

VP of Enrollment Management

$198,154Pt VII · Sec A

Regina Mincberg Bennett

General Counsel & Chief of Staff

$164,264Pt VII · Sec A

Meredith Lynne Raimondo

Vice President of Student Affairs

$162,944Pt VII · Sec A

Kendra a King Momon

Associate Provost

$162,614Pt 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	FY2025	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.

See Oglethorpe University INC executive salaries →

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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 · $68.6M · in their own filed words · FY2023

01

Instruction

The cost of offering the academic programs.

$54.4Mprogram expense

02

Student Services

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

$11.9Mprogram expense

03

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

$2.3Mprogram 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 FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$77.0M

Ln 12

Fees for servicesLn 2g$72.1M

Gifts and grantsLn 1h$2.8M

Investment incomeLn 3$2.1M

Money outPt IX

$80.2M

Ln 25

Programscol B$68.6M

Managementcol C$10.1M

Fundraisingcol D$1.5M

Owns and owesPt X

$119.8M

net assets · Ln 32

Cash and savingsLn 1–2$906K

Total assetsLn 16$129.0M

LiabilitiesLn 26$9.2M

PeoplePt VI, VII

34

listed · VII A

PaidVII A8

Voting boardVI 1a34

IndependentVI 1b33

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.8M

Noncash giftsLn 1g$26K

Fees for servicesLn 2g$72.1M

Investment incomeLn 3$2.1M

Other incomeLn 4–11$23K

Gains on assetsLn 7$2.0M

Total revenueLn 12$77.0M

Assets in detailPt X, end of year

CashLn 1$906K

Cash and savings togetherLn 1–2$906K

InvestmentsLn 11–13$50.8M

Land, buildings, equipmentLn 10c$73.7M

Other assetsLn 15$801K

Total assetsLn 16$129.0M

LiabilitiesLn 26$9.2M

Net assetsLn 32$119.8M

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 FY24	End FY24
Cash and savingsLn 1–2	$2.0M	$906K
InvestmentsLn 11–13	$46.3M	$50.8M
Land, buildings, equipmentLn 10c	$75.8M	$73.7M
Total assetsLn 16	$129.9M	$129.0M
LiabilitiesLn 26	$10.4M	$9.2M
Net assetsLn 32	$119.5M	$119.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$40.8M	$40.8M
Pay of current officers, directors and key staffLn 5	$489K	$351K	$112K	$26K
Other salaries and wagesLn 7	$20.8M	$15.0M	$4.8M	$1.1M
Pension plan contributionsLn 8	$90K	$64K	$21K	$5K
Other employee benefitsLn 9	$52K	$38K	$12K	$3K
Payroll taxesLn 10	$1.3M	$966K	$309K	$71K
Accounting feesLn 11c	$75K		$75K
Investment management feesLn 11f	$132K		$132K
Advertising and promotionLn 12	$538K	$538K
Information technologyLn 14	$1.8M	$300K	$1.4M	$51K
TravelLn 17	$827K	$763K	$51K	$13K
InterestLn 20	$196K	$158K	$39K
Depreciation, depletion and amortizationLn 22	$4.2M	$3.3M	$817K
Other expenses (24a–d)Ln 24	$8.7M	$6.1M	$2.3M	$264K
All other expensesLn 24e	$243K	$243K
Total functional expensesLn 25	$80.2M	$68.6M	$10.1M	$1.5M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$81.3M	$82.4M	−$1.1M	$122.2M	990 PDF
FY2024 Viewing	$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	$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 FY2024 990 (6 parts)

Part I · Summary $77,030,184 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $5,191,684$2,815,912

I-9 Program service revenuePrior year $73,176,096$72,107,748

I-10 Investment incomePrior year $500,197$2,083,181

I-11 Other revenuePrior year $768,705$23,343

I-12 Total revenuePrior year $79,636,682$77,030,184

I-13 Grants and similar amounts paidPrior year $39,982,784$40,751,006

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

I-15 Salaries and benefitsPrior year $21,967,240$22,816,315

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

I-17 Other expensesPrior year $17,794,523$16,656,854

I-18 Total expensesPrior year $79,744,547$80,224,175

I-19 Revenue less expensesPrior year −$107,865−$3,193,991

Part VI · Governance 33 of 34 board members independent, no flags

VI-1a Voting members of the governing body34

VI-1b Independent voting members33

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 $77,030,184 across 8 lines filed

Lines not itemized here account for −$118,998 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$2,815,912

VIII-1g Noncash contributions (included above)$25,500

VIII-1h Total contributions, gifts and grants$2,815,912

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $72,107,748$72,107,748

VIII-3 Investment incomeExcluded from tax $106,986$106,986

VIII-7 Net gain or loss on sales of assetsRelated to mission $1,976,195$1,976,195

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $142,341$142,341

VIII-12 Total revenueRelated to mission $74,226,284 · Unrelated business −$118,998 · Excluded from tax $106,986$77,030,184

Part IX · Statement of functional expenses $80,224,175 across 15 lines filed

IX-2 Grants to domestic individualsPrograms $40,751,006$40,751,006

IX-5 Pay of current officers, directors and key staffPrograms $351,144 · Management $112,350 · Fundraising $25,837$489,331

IX-7 Other salaries and wagesPrograms $14,953,809 · Management $4,784,552 · Fundraising $1,100,280$20,838,641

IX-8 Pension plan contributionsPrograms $64,498 · Management $20,636 · Fundraising $4,746$89,880

IX-9 Other employee benefitsPrograms $37,580 · Management $12,025 · Fundraising $2,764$52,369

IX-10 Payroll taxesPrograms $965,957 · Management $309,063 · Fundraising $71,074$1,346,094

IX-11c Accounting feesManagement $74,550$74,550

IX-11f Investment management feesManagement $132,271$132,271

IX-12 Advertising and promotionPrograms $538,060$538,060

IX-14 Information technologyPrograms $299,948 · Management $1,414,962 · Fundraising $51,388$1,766,298

IX-17 TravelPrograms $763,364 · Management $50,685 · Fundraising $12,877$826,926

IX-20 InterestPrograms $157,884 · Management $38,562$196,446

IX-22 Depreciation, depletion and amortizationPrograms $3,344,239 · Management $816,800$4,161,039

IX-24 Other expenses (24a–d)Programs $6,134,970 · Management $2,319,389 · Fundraising $264,089$8,718,448

IX-24e All other expensesPrograms $242,816$242,816

IX-25 Total functional expensesPrograms $68,605,275 · Management $10,085,845 · Fundraising $1,533,055$80,224,175

Part X · Balance sheet $129,042,825 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $1,975,508$906,040

X-3 Pledges and grants receivableStart of year $2,750,843$1,145,574

X-4 Accounts receivableStart of year $1,281,372$1,229,280

X-8 Inventories for sale or useStart of year $56,472$59,775

X-9 Prepaid expenses and deferred chargesStart of year $324,952$406,581

X-10c Land, buildings and equipment, netStart of year $75,797,491$73,653,103

X-11 Publicly traded securitiesStart of year $46,106,563$50,755,399

X-12 Other securitiesStart of year $198,225$86,289

X-15 Other assetsStart of year $1,433,974$800,784

X-16 Total assetsStart of year $129,925,400$129,042,825

X-17 Accounts payable and accrued expensesStart of year $1,647,020$1,618,785

X-19 Deferred revenueStart of year $1,359,780$1,553,936

X-25 Other liabilitiesStart of year $995,236$800,106

X-26 Total liabilitiesStart of year $10,396,382$9,227,108

X-27 Net assets without donor restrictionsStart of year $88,364,817$86,740,280

X-28 Net assets with donor restrictionsStart of year $31,164,201$33,075,437

X-32 Total net assets or fund balancesStart of year $119,529,018$119,815,717

X-33 Total liabilities and net assetsStart of year $129,925,400$129,042,825

Part XI · Reconciliation of net assets $119,815,717 net assets at year end

XI-1 Total revenue$77,030,184

XI-2 Total expenses$80,224,175

XI-3 Revenue less expenses−$3,193,991

XI-4 Net assets at start of year$119,529,018

XI-5 Net unrealized gains (losses) on investments$3,480,690

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$119,815,717

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Oglethorpe University INC FY2024 filing

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