Better Business Bureau Report for
Spalding University

Better Business Bureau Report issued July 2012
Better Business Bureau Report expires November 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Spalding University
Address: 845 South Fourth Street
  Louisville, KY 40203
Phone: 502-585-9911
Web Address: www.spalding.edu
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Better Business Bureau Comments

Formerly known as:Spalding College

Year, State Incorporated: 1984, Kentucky
Affiliates: None
Stated Purpose: Spalding University is a diverse community of learners dedicated to meeting the needs of the times in the tradition of the Sisters of Charity of Nazareth through quality undergraduate and graduate liberal and professional studies, grounded in spiritual values, with emphasis on service and the promotion of peace and justice

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Evaluation Conclusions

              

Spalding University meets the 20 Standards for Charity Accountability.
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Programs

              

As a private, co-educational, independent, not-for-profit university, Spalding offers twenty-seven fully accredited degree programs, including several nationally recognized and highly competitive graduate degrees. Spalding University is committed to serving students whose potential for success and drive to grow through education may be greater than their academic preparation or economic ability, and the institution has developed an education delivery model that works with each student to build on their capabilities, equipping them to compete academically and professionally. Spalding has long been a leader in providing educational opportunities for working adults. Enrollment is approximately 1/3 traditional undergraduate students, 1/3 adult undergraduate students, and 1/3 graduate students. Between the years 2007-08 and 2011-12, Spalding’s enrollment increased 46% to a Fall 2011 enrollment of just under 2,500 students. Spalding's student body is highly diverse: 46% of the students are the first in their families to attend college; 66% are eligible for Pell Grants, indicating an economically challenged household; and 39% self-identify as being from an ethnic minority.

For the fiscal year ended June 30, 2011, Spalding University's program expenses were:

  
Instruction 11,565,728
Student services 2,814,461
Physical plant and maintenance 2,069,320
Depreciation 1,086,389
Academic support and research 910,143
Auxiliary enterprises 832,823
Institutional support 715,670
Total Program Expenses: $19,994,534
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Governance

              

Chief Executive : Tori Murden McClure, President
Compensation*: 
$217,969

Highest Paid Executive: Lewis Randy Strickland,Provost
Compensation*: $220,076

Chair of the Board: Bill Weyland
Chair's Profession / Business Affiliation: President, City Properties Group

Board Size: 25

Paid Staff Size: 443

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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, grant proposals, internet, planned giving arrangements, and personal solicitation.
Fund raising costs were 25% of related contributions. (Related contributions, which totaled $1,175,301, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Spalding University's audited financial statements - consolidated for the fiscal year ended June 30, 2011.

Ending net assets as reported below include $16,497,046 in unrestricted net assets , $2,886,534 in temporarily restricted net assets, and $7,631,331 in permanently restricted net assets.

Total assets as reported include $19,349,718 invested in property, plant, and equipment.


Source of Funds  
Tuition and Fees 27,863,326
Gifts and bequests 1,175,301
Auxilliary enterprises 1,015,801
Other 300,398
Sponsored programs 225,087
Net Investment Income 163,920
Total Income $30,743,833


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Uses of Funds as a % of Total Expenses

Programs: 78%  Fund Raising: 1%  Administrative: 21% 

Total income $30,743,833
Program expenses $19,994,534
Fund raising expenses 291,230
Administrative expenses 5,499,698
Total expenses $25,785,462
Income in Excess of Expenses 4,958,371
Beginning net assets 20,290,608
Other Changes in Net Assets 1,765,932
Ending net assets 27,014,911
Total liabilities 18,077,988
Total assets $45,092,899


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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