Better Business Bureau Report for
Spalding University

Better Business Bureau Report issued December 2017
Better Business Bureau Report expires December 2018


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

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 27 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. Spalding’s enrollment headcount just under 2,100 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, 2017, Spalding University's program expenses were:

  
Instructional 12,912,927
Student Services 3,900,779
Physical plant and maintenance 2,509,836
Depreciation 1,755,995
Academic Support and Research 1,269,996
Auxiliary enterprises 1,252,692
Institutional Support 637,667
Total Program Expenses: $24,239,892
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Governance

              

Chief Executive : Tori Murden McClure, President
Compensation*: 
$251,982

Chair of the Board: Paul Ratterman
Chair's Profession / Business Affiliation: Investment Vice President

Board Size: 29

Paid Staff Size: 916

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, telephone, invitations to fund raising events, grant proposals, internet, and planned giving arrangements.
Fund raising costs were 24% of related contributions. (Related contributions, which totaled $1,920,130, 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 for the fiscal year ended June 30, 2017.

Ending net assets as reported below include $36,466,190 in unrestricted net assets, $9,948,581 in temporarily restricted net assets, and $10,777,935 in permanently restricted net assets.

Total assets as reported include $36,749,382 invested in property, plant, and equipment.

Source of Funds  
Tuition and Fees, net 31,133,329
Gifts 1,908,641
Auxiliary Enterprises 1,644,972
Other 455,521
Sponsored Programs 293,192
Net Investment Income 249,224
Bequests and Trusts 11,489
Total Income $35,696,368


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Uses of Funds as a % of Total Expenses

Programs: 77%  Fund Raising: 1%  Administrative: 22% 

Total income $35,696,368
Program expenses $24,239,892
Fund raising expenses 452,157
Administrative expenses 7,107,123
Total expenses $31,799,172
Income in Excess of Expenses 3,897,196
Beginning net assets 51,245,540
Other Changes in Net Assets 2,049,970
Ending net assets 57,192,706
Total liabilities 16,515,322
Total assets $73,708,028


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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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