Palm Beach Atlantic University 
The information on this page was last updated 5/24/2023. If you see errors or omissions, please email: [email protected]
Summary
Founded in 1968, PBA is a top-notch Christian university preparing students to lead fulfilling lives through learning, leadership and service. Founded under the providence of God with the conviction that there is a need for a university in this community that will expand the minds, develop the moral character and enrich the spiritual lives of all the people who may come within the orbit of its influence, Palm Beach Atlantic University shall stand as a witness for Jesus Christ, expressed directly through its administration, faculty, and students.
Contact information
Mailing address:
Palm Beach Atlantic University
PO BOX 24708
West Palm Beach, FL 33416
Website: pba.edu
Phone: 888-468-6722
Email: [email protected]
Organization details
EIN: 591092732
CEO/President: Debra Schwinn
Chairman: Timothy S. Sotos
Board size: 26
Founder: Jess C. Moody
Ruling year: 1970
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
PBA's vision is to be the premier, Christian university offering whole-person education that prepares students from around the globe to tackle the problems of their day with godly character, open arms and a servant's heart.
Mission statement
PBA equips students to grow in wisdom, lead with conviction and serve God boldly.
Statement of faith
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 | | 584 of 1123 | 80 of 128 |
| Fund acquisition rating | | 558 of 1124 | 67 of 128 |
| Resource allocation rating | | 547 of 1124 | 67 of 128 |
| Asset utilization rating | | 613 of 1123 | 82 of 128 |
According to the organization's Form 990, it received $4,001,386 in government grants in 2023.
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 14% | 4% | 9% | 10% | 23% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 1% | 1% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 16% | 8% | 29% | 16% | 13% | 6% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 1% | 1% | 1% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 84% | 92% | 71% | 84% | 87% | 94% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 85% | 84% | 85% | 83% | 82% | 84% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 87% | 82% | 100% | 102% | 103% |
Program output ratio Program output ratio = Program services / Total revenue | 82% | 74% | 70% | 83% | 83% | 87% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | 13% | 18% | 0% | -2% | -3% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | 9% | 13% | 0% | -1% | -2% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 14% | 13% | 15% | 17% | 14% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.45 | 0.46 | 0.49 | 0.54 | 0.53 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.66 | 3.10 | 4.20 | 4.72 | 4.28 | 4.37 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.45 | 1.40 | 1.93 | 2.30 | 2.31 | 2.31 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.81 | 6.46 | 5.06 | 4.17 | 4.28 | 8.93 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.13 | 0.15 | 0.20 | 0.24 | 0.23 | 0.11 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.31 | 7.23 | 4.99 | 3.97 | 3.99 | 4.62 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 24% | 24% | 24% | 22% | 21% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 14% | 15% | 13% | 16% | 17% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 151% | 168% | 166% | 157% | 144% | 151% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $28,359,694 | $28,879,834 | $20,428,437 | $19,831,611 | $17,400,999 |
| Receivables, inventories, prepaids | $71,656,612 | $36,339,527 | $30,322,591 | $31,147,708 | $32,048,733 |
| Short-term investments | $607,534 | $653,948 | $965,686 | $664,325 | $697,605 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $100,623,840 | $65,873,309 | $51,716,714 | $51,643,644 | $50,147,337 |
| Long-term investments | $91,002,296 | $85,144,266 | $73,152,706 | $58,017,765 | $58,008,491 |
| Fixed assets | $101,943,170 | $101,728,130 | $105,837,432 | $110,077,635 | $110,668,552 |
| Other long-term assets | $18,186,825 | $23,662,962 | $13,205,807 | $1,084,156 | $521,394 |
| Total long-term assets | $211,132,291 | $210,535,358 | $192,195,945 | $169,179,556 | $169,198,437 |
| Total assets | $311,756,131 | $276,408,667 | $243,912,659 | $220,823,200 | $219,345,774 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $7,994,691 | $5,937,528 | $4,324,462 | $6,664,383 | $3,998,680 |
| Other current liabilities | $7,593,472 | $7,072,841 | $8,085,406 | $5,388,506 | $1,619,626 |
| Total current liabilities | $15,588,163 | $13,010,369 | $12,409,868 | $12,052,889 | $5,618,306 |
| Debt | $43,025,184 | $40,959,494 | $32,101,258 | $34,414,658 | $36,737,778 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $15,482,422 | $12,088,550 | $12,854,326 | $2,977,963 | $2,833,594 |
| Total long-term liabilities | $58,507,606 | $53,048,044 | $44,955,584 | $37,392,621 | $39,571,372 |
| Total liabilities | $74,095,769 | $66,058,413 | $57,365,452 | $49,445,510 | $45,189,678 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $112,409,044 | $92,244,594 | $93,449,938 | $93,089,561 | $93,565,257 |
| With donor restrictions | $125,251,318 | $118,105,660 | $93,097,269 | $78,288,129 | $80,590,839 |
| Net assets | $237,660,362 | $210,350,254 | $186,547,207 | $171,377,690 | $174,156,096 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $12,884,735 | $45,392,630 | $18,629,928 | $14,652,882 | $6,534,831 |
| Program service revenue | $114,139,188 | $109,378,721 | $99,385,955 | $99,019,427 | $101,581,291 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $34,160,365 | ($489,327) | $1,105,610 | $2,608,035 | $4,020,012 |
| Other revenue | $252,042 | $375,182 | $92,091 | $445,764 | $396,380 |
| Total other revenue | $148,551,595 | $109,264,576 | $100,583,656 | $102,073,226 | $105,997,683 |
| Total revenue | $161,436,330 | $154,657,206 | $119,213,584 | $116,726,108 | $112,532,514 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $119,309,282 | $108,602,930 | $99,169,727 | $97,396,268 | $97,585,010 |
| Management and general | $20,092,592 | $16,808,758 | $17,897,986 | $20,234,921 | $16,546,108 |
| Fundraising | $1,821,084 | $1,660,900 | $1,716,250 | $1,508,510 | $1,512,519 |
| Total expenses | $141,222,958 | $127,072,588 | $118,783,963 | $119,139,699 | $115,643,637 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | $20,213,372 | $27,584,618 | $429,621 | ($2,413,591) | ($3,111,123) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $20,213,372 | $27,584,618 | $429,621 | ($2,413,591) | ($3,111,123) |
Compensation
| Name | Title | Compensation |
| Debra Schwinn | President | $747,312 |
| Laura Bishop | Executive VP For Advanceme | $291,896 |
| Stacie Bowie | VP Finance & Admin/CFO | $249,941 |
| Steven Alderman | Chief Legal Officer and General Counsel | $234,543 |
| Dana Strachan | Associate Dean For Academics | $203,431 |
| Phil Tobin | Dean, School of Health Professions; Director of Pa | $195,608 |
| Scott Barnes | VP Its | $188,149 |
| John Hayes | Titus Chair For Franchise Leadership; Professor Fo | $187,394 |
| Brian Strow | Dean Rinker School of Business | $177,974 |
| Nancy Brainard | VP Enrollment | $175,476 |
| Randolph E Richards | Provost, CAO (previously) | $174,172 |
| Chelneca Templeton | Provost, CAO | $170,870 |
| Courtney Lovely | Director of Athletics | $160,756 |
| Michele Schneider | Assistant VP & Controller | $158,357 |
| Bob Lutz | VP Student Development | $150,657 |
| Mona Hicks | VP Human Resources | $136,686 |
| Bernard Cueto | VP For Spiritual Development | $131,018 |
| Cara Wald | VP Human Resources | $106,020 |
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 5/24/2023. To update the information below, please email: [email protected]
History
In a time of cultural unsettlement, Palm Beach Atlantic University was founded in 1968 as a coeducational Christian liberal arts university. The first classes at Palm Beach Atlantic University, formerly Palm Beach Atlantic College named for its location in the Palm Beaches, were held in the fall of 1968 in downtown West Palm Beach at 1101 South Olive Avenue in the former facilities of the First Baptist Church. PBA held its first graduation in the spring of 1972 and later that year received initial accreditation from the regional accrediting association.
Over the years, Palm Beach Atlantic has expanded to approximately 29 acres of land from the Intracoastal Waterway west along Okeechobee Boulevard to Dixie Highway, south to Jefferson Street, and back east to the waterway but all began with the first building, the Lassiter Student Center, which was occupied in 1983.
Currently, PBA's main campus is located on Flagler Drive with stunning views of the Intracoastal, and steps away from Palm Beach.