Carson-Newman University

Analysis

Carson-Newman University is a registered charity in United States, based in Jefferson Cty, TN. It received its IRS tax-exemption ruling in November 1933, 93 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Carson-Newman University reported income of $57.6m and spending of $50.6m, spending 88% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $68.5m to $57.6m (-16%), an average of -4.2% a year. The sharpest change came in the year to July 2023, when income rose by 36%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carson-Newman University sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Central Methodist University ($57.5m), Medical College of Virginia Foundation ($57.6m) and Basis Texas Charter Schools Inc ($57.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 26% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $1.3m (2.5% of expenses). Other salaries and wages came to $19.9m. At year end it held assets of $173.8m against liabilities of $54.9m, net assets of $118.9m. It reported 481 employees.