Freed-hardeman University
88% goes to programs $11 to raise $100 Strong reserves Growing revenue
Freed-hardeman University is a 501(c)(3) organization based in Henderson, Tennessee, registered in 1975, with $69,201,935 in FY2023 revenue. CharityIndex grades it A, and it directs about 88% of spending to programs.
158 E Main St, Henderson, TN, 38340 EIN 62-0518288 Since 1975
Revenue (FY2023)
$69.2M
▼ 0.1% vs prior year
Education median: $200K
Expenses (FY2023)
$58.9M
Net assets
$172.8M
Employees
1,040
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating88% to programs · $11 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Freed-hardeman University: 88% to programs · $11 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating35 mo reserves · +15% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Freed-hardeman University: 35 mo reserves · +15% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Freed-hardeman University: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Freed-hardeman University: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Freed-hardeman university is a private school associated with churches of christ which emphasize physical and spiritual development of its students to prepare them for lives of service to their communities.
Contact & location
- Address
- 158 E Main St, Henderson, TN, 38340
- City
- Henderson
- State
- Tennessee
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $75.2M (FY2013) to $69.2M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $36.6MNet assets $172.8M
Operating margin
14.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$209.4M
Total liabilities
$36.6M
Net assets
$172.8M
Salaries & benefits
$21.3M
36% of expenses
Board members
32
32 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $69,201,935▼0.1% | $58,914,183▼1.3% | $172,788,534▲12.5% | $209,376,285▲11.5% | 990 |
| 2022 | $69,265,588▼6.4% | $59,667,208▲4.1% | $153,568,909▲6.2% | $187,756,629▲4.4% | 990 |
| 2021 | $74,019,321▲25.6% | $57,322,571▲9.4% | $144,608,363▲7.6% | $179,769,242▲3.5% | 990 |
| 2020 | $58,919,175▲5.6% | $52,397,666▼1.1% | $134,347,015▲19.1% | $173,757,054▲13.9% | 990 |
| 2019 | $55,774,338 | $52,981,610▲2.1% | $112,801,118▲0.8% | $152,512,537▲3.6% | 990 |
| 2018 | $55,757,789▼4.4% | $51,908,443▲0.7% | $111,918,418▲2.6% | $147,262,050▲2.5% | 990 |
| 2017 | $58,295,305▲12.0% | $51,572,490▲4.4% | $109,031,134▲8.0% | $143,676,055▲4.9% | 990 |
| 2016 | $52,028,826▲0.5% | $49,392,048▼2.6% | $100,910,609▲5.1% | $136,988,857▲1.6% | 990 |
| 2015 | $51,776,024▼1.2% | $50,732,216▲6.1% | $96,033,974▼2.6% | $134,801,440▲1.5% | 990 |
| 2014 | $52,423,997▼30.3% | $47,836,966▼2.0% | $98,626,686▲6.2% | $132,862,488▲3.1% | 990 |
| 2013 | $75,248,421 | $48,794,207▲16.9% | $92,891,943▲39.8% | $128,830,930▲21.9% | 990 |
| 2012 | — | $41,743,945▲2.5% | $66,437,729▲12.8% | $105,653,165▲8.1% | 990 |
| 2011 | — | $40,715,742▼1.2% | $58,911,538▲4.3% | $97,775,098▲4.6% | 990 |
| 2010 | — | $41,217,206▲3.6% | $56,485,305▲12.7% | $93,485,603▲9.3% | 990 |
| 2009 | — | $39,790,139 | $50,106,924 | $85,551,965 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: David R Shannon — $301,134 (0.51% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David R Shannon | President | 40 | $301,134 |
| Charles Vires | Provost and Vp For Academi | 40 | $176,718 |
| Jason Brashier | Vice President For Financi | 40 | $153,840 |
| David Clouse | Vp For Advancement | 40 | $151,258 |
| Jerry A Satterfield | Chief Investment Officer | 40 | $144,146 |
| Leann Davis | Professor | 40 | $138,344 |
| Stephen Marvin | Professor | 40 | $128,354 |
| Thomas W Deberry | Professor | 40 | $117,668 |
| James N Kitchen | Director of It | 40 | $112,475 |
| Tommie Kirk | Vp For Student Services | 40 | $102,757 |
| Brett L Pharr | Trustee | 1 | — |
| Chris A Hallmark | Trustee | 1 | — |
| Curt Zondervan | Trustee | 1 | — |
| Dayla Calendine | Trustee | 1 | — |
| Dr Bill Morgan | Trustee | 1 | — |
| Dr Dale E Jones | Trustee | 1 | — |
| Gary Massey Jr | Trustee | 1 | — |
| Gregg A Woodall | Trustee | 1 | — |
| James Leonard | Trustee | 1 | — |
| Jana Rucker | Trustee | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| E&t Contracting | Building Contractor | $2,650,656 |
| 4f Design | Contractor | $785,606 |
| Bramblett Group | Technology/marketing | $669,866 |
| Trane Us Inc | Contractor | $641,005 |
| Textbook Brokers | Student Textbooks | $544,791 |
Grants received · $7.3M total
89 grants to Freed-hardeman University totaling $7.3M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Christian Community Foundation of Memphis and the Mid-south Inc | Religion | 2024 | $1,100,000 |
| Christian Community Foundation Inc | General support | 2024 | $45,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $15,200 |
| The Community Fdn of Middle Tn Inc | Presidents council | 2024 | $10,000 |
| National Philanthropic Tr | Education | 2023 | $176,000 |
| Donor Advised Charitable Giving | Education | 2023 | $126,100 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2023 | $75,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $55,300 |
| Hispanic Scholarship Fund | To provide scholarships for students | 2023 | $47,212 |
| American Online Giving Foundation Inc | General support | 2023 | $36,109 |
| National Christian Charitable Foundation | Growth | 2023 | $15,512 |
| Christian Community Foundation Inc | General support | 2023 | $10,000 |
| Charities Aid Foundation America | Charitable donation | 2023 | $7,532 |
| Raymond James Charitable Endowment Fund | General support | 2023 | $5,200 |
| National Philanthropic Tr | Education | 2022 | $875,000 |
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Frequently asked questions
- Is Freed-hardeman University a legitimate nonprofit?
- Yes. Freed-hardeman University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 62-0518288, based in Henderson, Tennessee. Donations are tax-deductible.
- What is Freed-hardeman University's EIN?
- Freed-hardeman University's Employer Identification Number (EIN) is 62-0518288.
- How much revenue does Freed-hardeman University report?
- Freed-hardeman University reported $69,201,935 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Freed-hardeman University's spending goes to programs?
- Freed-hardeman University spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Freed-hardeman University have?
- CharityIndex grades Freed-hardeman University A, based on program efficiency and fundraising cost.
- How much does Freed-hardeman University's highest-paid employee make?
- The highest reported compensation on Freed-hardeman University's latest Form 990 is $301,134, paid to David R Shannon (President).
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Data for Freed-hardeman University (EIN 62-0518288) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.