Southern Wesleyan University 
The information on this page was last updated 4/24/2024. If you see errors or omissions, please email: [email protected]
Summary
Southern Wesleyan University is a private Christian university committed to liberal arts and professional education. We are proud to be an institution of The Wesleyan Church, a worldwide body of evangelical Protestant believers. Our name has changed over the years, but our mission-to be a Christian community of learners that recognizes God as the source of all truth and wisdom-has remained.
Contact information
Mailing address:
Southern Wesleyan University
PO Box 1020
Central, SC 29630
Website: swu.edu
Phone: 864-644-5000
Email: [email protected]
Organization details
EIN: 570324936
CEO/President: Dr. William D. Barker
Chairman: Sue Rickman
Board size: 31
Founder:
Ruling year: 1970
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
We believe that every individual has a God given purpose, brought to fruition by the sanctifying power of the Holy Spirit and the challenge of scholarship. As we participate in a consecrated community of learners we are continuously transformed into the image of Christ both individually and corporately.
Mission statement
Southern Wesleyan University is a Christ-centered, student focused learning community devoted to transforming lives by challenging students to be dedicated scholars and servant leaders who impact the world for Christ.
Statement of faith
he following is a summary of the doctrine set forth in the Articles of Religion, but the statement is not intended to replace or in any way supersede the more explicit affirmations found in the most current version of The Discipline of the Wesleyan Church. We believe in God the Father, the Son, and the Holy Spirit.
We believe that Jesus Christ, the Son, suffered in our place on the cross, that He died but rose again, that He now sits at the Father's right hand until He returns to judge all men at the last day.
We believe in the Holy Scriptures as the inspired and inerrant Word of God.
We believe that by the grace of God every person has the ability and responsibility to choose between right and wrong and that those who repent of their sins and believe in the Lord Jesus Christ are justified by faith.
We believe that God not only counts the believer as righteous but that He also makes him righteous, freeing him of sin's dominion at conversion, purifying his heart by faith and perfecting him in love at entire sanctification, and providing for his growth in grace in every stage of his spiritual life, enabling him through the presence and power of the Holy Spirit to live a victorious life.
Donor confidence score
Transparency grade
C
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 585 of 1118 | 75 of 127 |
| Fund acquisition rating | | 636 of 1119 | 84 of 127 |
| Resource allocation rating | | 697 of 1119 | 83 of 127 |
| Asset utilization rating | | 381 of 1118 | 43 of 127 |
According to the organization's Form 990, it received $1,432,482 in government grants in 2023.
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 15% | 4% | 9% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 2% | 1% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 16% | 13% | 30% | 17% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 2% | 1% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 84% | 87% | 70% | 83% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 82% | 84% | 84% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 97% | 83% | 96% |
Program output ratio Program output ratio = Program services / Total revenue | 82% | 79% | 70% | 81% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | 3% | 17% | 4% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | 2% | 17% | 4% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 16% | 15% | 14% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.62 | 0.68 | 0.79 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.64 | 2.53 | 2.64 | 3.38 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.44 | 1.56 | 1.79 | 2.67 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.92 | 8.93 | 7.89 | 5.15 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.13 | 0.11 | 0.13 | 0.19 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.38 | 6.82 | 5.85 | 3.62 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 13% | 15% | 19% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 7% | 9% | 11% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 151% | 142% | 125% | 103% |
Financials
| Balance sheet | |||
| Assets | 2023 | 2022 | 2021 |
| Cash | $9,751,128 | $8,493,346 | $6,575,962 |
| Receivables, inventories, prepaids | $2,742,553 | $4,490,403 | $955,706 |
| Short-term investments | $6,048,527 | $4,621,808 | $4,672,238 |
| Other current assets | $0 | $0 | $0 |
| Total current assets | $18,542,208 | $17,605,557 | $12,203,906 |
| Long-term investments | $3,674,906 | $4,037,290 | $4,039,512 |
| Fixed assets | $24,654,880 | $24,689,001 | $24,449,181 |
| Other long-term assets | $119,893 | $136,160 | $565,091 |
| Total long-term assets | $28,449,679 | $28,862,451 | $29,053,784 |
| Total assets | $46,991,887 | $46,468,008 | $41,257,690 |
| Liabilities | 2023 | 2022 | 2021 |
| Payables and accrued expenses | $1,125,496 | $1,365,152 | $1,235,234 |
| Other current liabilities | $951,039 | $866,120 | $1,134,474 |
| Total current liabilities | $2,076,535 | $2,231,272 | $2,369,708 |
| Debt | $3,418,527 | $3,989,508 | $4,560,490 |
| Due to (from) affiliates | $0 | $0 | $0 |
| Other long-term liabilities | $457,309 | $666,065 | $829,986 |
| Total long-term liabilities | $3,875,836 | $4,655,573 | $5,390,476 |
| Total liabilities | $5,952,371 | $6,886,845 | $7,760,184 |
| Net assets | 2023 | 2022 | 2021 |
| Without donor restrictions | $29,177,711 | $28,698,633 | $22,108,268 |
| With donor restrictions | $11,861,805 | $10,882,530 | $11,389,238 |
| Net assets | $41,039,516 | $39,581,163 | $33,497,506 |
| Revenues and expenses | |||
| Revenue | 2023 | 2022 | 2021 |
| Total contributions | $3,980,206 | $11,395,794 | $5,842,583 |
| Program service revenue | $23,982,261 | $25,782,210 | $27,498,617 |
| Membership dues | $0 | $0 | $0 |
| Investment income | $768,598 | $147,363 | $191,010 |
| Other revenue | $1,101,562 | $774,082 | $508,478 |
| Total other revenue | $25,852,421 | $26,703,655 | $28,198,105 |
| Total revenue | $29,832,627 | $38,099,449 | $34,040,688 |
| Expenses | 2023 | 2022 | 2021 |
| Program services | $23,655,819 | $26,499,925 | $27,471,346 |
| Management and general | $4,710,331 | $4,581,515 | $4,616,345 |
| Fundraising | $615,128 | $472,073 | $511,902 |
| Total expenses | $28,981,278 | $31,553,513 | $32,599,593 |
| Change in net assets | 2023 | 2022 | 2021 |
| Surplus (deficit) | $851,349 | $6,545,936 | $1,441,095 |
| Other changes in net assets | $0 | $0 | $0 |
| Total change in net assets | $851,349 | $6,545,936 | $1,441,095 |
Compensation
| Name | Title | Compensation |
| Dr William Crothers | President (Part Year) | $150,909 |
| Dr April White Pugh | Provost (Part Year)/VP for Academic Affairs | $122,546 |
| Dr William D Barker | President | $99,917 |
| Mr Devon R Broome | Interim VP for Finance/CFO/Treasurer | $78,508 |
| Mr Roger House | VP for Finance/CFO/Treasurer (Part Year)/Director | $77,032 |
| Mr D Kenneth Whitener | VP for Finance/CFO/Treasurer (Part Year)/Director | $20,764 |
Compensation data as of: 6/30/2023
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 4/24/2024. To update the information below, please email: [email protected]
History
Southern Wesleyan University was originally established in 1906 as the Wesleyan Methodist Bible Institute whose mission was to develop Christian character in its students while giving thorough intellectual training. Now, as a four-year, private, liberal arts college, SWU's structure and name have changed, but our mission-to be a Christian community of learners that recognizes God as the source of all truth and wisdom-has remained.
For a timeline, visit: swu.edu/about/who-we-are/our-history/