Lenoir-rhyne University
83% goes to programs $26 to raise $100 Strong reserves Declining revenue
Lenoir-rhyne University is a 501(c)(3) organization based in Hickory, North Carolina, registered in 1945, with $81,097,533 in FY2024 revenue. CharityIndex grades it A, and it directs about 83% of spending to programs.
Po Box 7164, Hickory, NC, 28603 EIN 56-0556753 Since 1945
Revenue (FY2024)
$81.1M
▼ 3.1% vs prior year
Education median: $200K
Expenses (FY2024)
$82.5M
Net assets
$220.3M
Employees
926
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating83% to programs · $26 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 Lenoir-rhyne University: 83% to programs · $26 to raise $100 earns a B+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating32 mo reserves · -2% 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 Lenoir-rhyne University: 32 mo reserves · -2% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 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 Lenoir-rhyne University: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Lenoir-rhyne University: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Lenoir-rhyne university provides programs of undergraduate, graduate and continuing study committed to the liberal arts and sciences. the university awards bachelors and master degrees.
What they do
Auxiliary services - expenses related to the function of furnishing goods or services to students, faculty, or staff. examples are residence halls and food services.
Academic support - expenses incurred to provide support services for the institution's primary mission of instruction.
Contact & location
- Address
- Po Box 7164, Hickory, NC, 28603
- City
- Hickory
- State
- North Carolina
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $63.9M (FY2013) to $81.1M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $74.3MNet assets $220.3M
Operating margin
-1.7%
Spent more than it raised in the latest fiscal year.
Total assets
$294.6M
Total liabilities
$74.3M
Net assets
$220.3M
Salaries & benefits
$28.2M
34% of expenses
Board members
27
26 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $81,097,533▼3.1% | $82,486,697▼8.5% | $220,286,096▲2.2% | $294,583,155▲1.1% | 990 |
| 2023 | $83,689,011▼15.1% | $90,103,408▼9.9% | $215,444,453▲1.0% | $291,373,063 | 990 |
| 2022 | $98,592,040▼18.0% | $100,020,015▲4.4% | $213,386,546▼3.1% | $291,244,186▲7.6% | 990 |
| 2021 | $120,230,846▲18.6% | $95,782,413▲0.3% | $220,295,108▲8.7% | $270,721,083▲7.5% | 990 |
| 2020 | $101,403,823▼0.1% | $95,486,920▼0.3% | $202,696,371▲18.2% | $251,750,614▲12.2% | 990 |
| 2019 | $101,456,127▼0.2% | $95,813,092▲3.8% | $171,536,888▲2.1% | $224,343,491▲2.5% | 990 |
| 2018 | $101,646,884▲15.3% | $92,278,422▲9.7% | $167,997,721▲2.5% | $218,883,870▲1.6% | 990 |
| 2017 | $88,182,413▲4.4% | $84,135,836▲3.1% | $163,857,804▲5.3% | $215,447,826▲5.7% | 990 |
| 2016 | $84,489,679▲12.7% | $81,608,952▲12.5% | $155,647,907▲5.9% | $203,913,956▲13.4% | 990 |
| 2015 | $74,943,169▲12.0% | $72,573,064▲9.1% | $147,001,636▼2.5% | $179,788,482▼0.4% | 990 |
| 2014 | $66,893,706▲4.7% | $66,542,778▲7.8% | $150,747,832▼1.0% | $180,492,722▼0.6% | 990 |
| 2013 | $63,919,765 | $61,740,413▲4.3% | $152,228,211▲5.7% | $181,502,901▲4.1% | 990 |
| 2012 | — | $59,216,115▲5.4% | $143,987,353▲44.4% | $174,420,190▲39.1% | 990 |
| 2011 | — | $56,195,327▲5.5% | $99,710,363▼3.2% | $125,408,486▼1.8% | 990 |
| 2010 | — | $53,261,831▲12.6% | $103,011,637▲14.7% | $127,666,713▲11.1% | 990 |
| 2009 | — | $47,312,861 | $89,801,629 | $114,926,026 | 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 (FY2024)
Highest-paid: Dr Frederick K Whitt — $492,170 (0.60% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr Frederick K Whitt | President | 40 | $492,170 |
| Dr Jennifer Burris | Provost & Vp Academic Affairs | 40 | $215,238 |
| Catherine Niekro | Vp Institutional Advancement | 40 | $194,175 |
| Jeremy Shreve | Vp Business & Finance | 40 | $193,108 |
| Laura Crawley | Vp Mission Engagement & Innovation (ended 8/01/2024) | 40 | $178,690 |
| Loury Floyd | Assistant Provost For Academic Operations | 40 | $157,908 |
| Kimberly Pate | Vp Athletics (ended 9/17/2024) | 40 | $152,646 |
| Douglas Socha | Head Football Coach | 40 | $142,648 |
| Wesley N Reid | Assistant Professor and Physician Assistant Studies Program Director | 40 | $117,441 |
| Boyd C Wilson Jr | Vice Chair | 1 | — |
| Boyd George | Trustee | 1 | — |
| Chris Peek | Trustee | 1 | — |
| Corie Pauling | Trustee | 1 | — |
| Edward Beard Jr | At Large | 1 | — |
| Gabrielle Kelly | Trustee | 1 | — |
| George A Moretz | Trustee | 1 | — |
| Hansel R Mccrorie | Trustee | 1 | — |
| Isaiah Oglesby | Trustee | 1 | — |
| Janie Parks Peak | Trustee | 1 | — |
| Jearld Leonhardt | Treasurer | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Aramark Campus Services | Food Services | $2,977,611 |
| David E Looper & Co | Construction Services | $2,755,790 |
| Aramark Management Services LP | General Contractor | $2,487,021 |
| Aramark Facilities Services | Maintenance & Housekeeping | $2,133,249 |
| Capture LLC | Marketing Services | $631,059 |
Grants received · $4.9M total
109 grants to Lenoir-rhyne University totaling $4.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Lettie Pate Whitehead Foundation Inc | For nursing scholarships. | 2024 | $250,000 |
| Foundation For the Carolinas | Charitable gift | 2024 | $35,000 |
| American Online Giving Foundation Inc | General support | 2024 | $21,113 |
| Coastal Community Foundation of South Carolina Inc | Education | 2024 | $10,619 |
| American Endowment Foundation | Educational | 2024 | $10,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $7,559 |
| North Carolina Community Foundation Inc | To support the organization's stated mission | 2024 | $6,560 |
| North Carolina Community Foundation Inc | To support the organization's stated mission | 2024 | $6,000 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $5,250 |
| Winston-salem Foundation | 4 grant(s) for varying purposes | 2024 | $5,240 |
| Lettie Pate Whitehead Foundation Inc | For nursing scholarships. | 2023 | $250,000 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $98,300 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $97,100 |
| Winston-salem Foundation | 5 grant(s) for varying purposes | 2023 | $55,287 |
| National Philanthropic Tr | International | 2023 | $50,000 |
Grants made · $133K in FY2017
1 grant totaling $133K in FY2017. All grants made by Lenoir-rhyne University →
| Recipient | Purpose | Amount |
|---|---|---|
| Piedmont Educational Foundation | General support | $132,696 |
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Frequently asked questions
- Is Lenoir-rhyne University a legitimate nonprofit?
- Yes. Lenoir-rhyne University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-0556753, based in Hickory, North Carolina. Donations are tax-deductible.
- What is Lenoir-rhyne University's EIN?
- Lenoir-rhyne University's Employer Identification Number (EIN) is 56-0556753.
- How much revenue does Lenoir-rhyne University report?
- Lenoir-rhyne University reported $81,097,533 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Lenoir-rhyne University's spending goes to programs?
- Lenoir-rhyne University spends about 83% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Lenoir-rhyne University have?
- CharityIndex grades Lenoir-rhyne University A, based on program efficiency and fundraising cost.
- How much does Lenoir-rhyne University's highest-paid employee make?
- The highest reported compensation on Lenoir-rhyne University's latest Form 990 is $492,170, paid to Dr Frederick K Whitt (President).
More nonprofits in Hickory
Explore more
Data for Lenoir-rhyne University (EIN 56-0556753) 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.