Asbury University 
The information on this page was last updated 5/1/2024. If you see errors or omissions, please email: [email protected]
Summary
Asbury University is a Christian liberal arts school dedicated to building the complete student, to equip them for a lifetime of servant leadership.
Contact information
Mailing address:
Asbury University
1 Macklem Dr.
Wilmore, KY 40390
Website: asbury.edu
Phone: 859-858-3511
Email: [email protected]
Organization details
EIN: 610458355
CEO/President: Kevin J. Brown
Chairman: Larry Brown
Board size: 20
Founder: John Wesley Hughes
Ruling year: 1934
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Asbury seeks to enable students to acquire skills and attitudes that promote the holistic integration of faith, learning and living in a Christ-centered transformative community based on Biblical principles.
Mission statement
Asbury University, a Christian Liberal Arts University in the Wesleyan-Holiness tradition, equips students, through academic excellence and spiritual vitality, for lifelong learning, leadership and service to the professions, society, the family and the Church, preparing them to engage their cultures and advance the cause of Christ around the world.
Statement of faith
We believe:
That the Scriptures of both the Old and New Testaments constitute the divinely inspired Word of God, that they are inerrant in the original writings, and that they are the final authority for truth and life.
That all truth is a unity since it originates in God, and that God imparts it to man through His revelation in Jesus Christ, in the Scriptures, and in nature. That there is one God, eternally existing in three persons: Father, Son, and Holy Spirit.
That Jesus Christ was begotten by the Holy Spirit, born of the Virgin Mary, and is true God and true man. That Jesus Christ died for our sins according to the Scriptures, that His atonement is for the whole human race, and that whosoever repents and believes through faith in Him is justified and regenerated and saved from the dominion of sin.
That man was created in the image of God, that man fell into sin through disobedience and "so death passed upon all men for that all have sinned" (Romans 5:12), that all human beings are born with a bent toward sinning, and in the case of those who reach moral responsibility, become sinners in need of conversion.
That entire sanctification is that act of divine grace, through the baptism with the Holy Spirit, by which the heart is cleansed from all sin and filled with the pure love of God. This is a definite, cleansing work of grace in the heart of a believer, subsequent to conversion, resulting from full consecration and faith in the cleansing merit of the blood of Jesus Christ.
That the Holy Spirit bears witness both to the new birth and to entire sanctification, enables the Christian to live a godly life, to grow in the graces of the Spirit, and to walk blamelessly in His holy commandments.
That the church is the body of Christ, and that all who are united by faith to Him are its members and love one another out of pure hearts. That the crucified body of the Lord was resurrected, that He ascended into heaven, and that His return will be personal and is imminent.
That there will be a bodily resurrection, of the just to everlasting blessedness, and of the unjust to everlasting punishment. The institution maintains its historic Christian commitment and resists the public practice or propagation of beliefs alien to its Wesleyan Christian orthodoxy. It welcomes students though who have not come to that faith but are respectful of the institution, its mission, and its commitment.
Donor confidence score
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 475 of 1118 | 53 of 130 |
| Fund acquisition rating | | 453 of 1119 | 51 of 130 |
| Resource allocation rating | | 328 of 1119 | 29 of 130 |
| Asset utilization rating | | 743 of 1118 | 101 of 130 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 11% | 5% | 5% | 18% | 15% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 2% | 1% | 2% | 2% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 18% | 22% | 28% | 32% | 11% | 15% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 3% | 2% | 2% | 2% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 82% | 78% | 72% | 68% | 89% | 85% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 88% | 87% | 87% | 89% | 87% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 95% | 81% | 75% | 102% | 94% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 83% | 70% | 65% | 90% | 81% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | 5% | 19% | 25% | -2% | 6% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | 2% | 8% | 12% | -1% | 3% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 10% | 11% | 10% | 9% | 11% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.33 | 0.33 | 0.32 | 0.37 | 0.38 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.61 | 2.55 | 2.45 | 2.07 | 2.09 | 2.13 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.41 | 0.85 | 0.81 | 0.67 | 0.78 | 0.81 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.92 | 21.01 | 15.51 | 16.32 | 20.52 | 23.29 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.13 | 0.05 | 0.06 | 0.06 | 0.05 | 0.04 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.43 | 13.48 | 13.81 | 16.89 | 14.71 | 14.10 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 8% | 8% | 9% | 13% | 10% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 6% | 5% | 5% | 6% | 6% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 276% | 277% | 284% | 235% | 236% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $9,730,202 | $14,018,866 | $23,919,275 | $19,251,452 | $14,755,510 |
| Receivables, inventories, prepaids | $3,287,856 | $5,115,382 | $4,509,999 | $5,329,784 | $7,390,994 |
| Short-term investments | $56,141,090 | $50,187,716 | $53,526,401 | $44,424,691 | $44,389,676 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $69,159,148 | $69,321,964 | $81,955,675 | $69,005,927 | $66,536,180 |
| Long-term investments | $21,501,387 | $24,081,056 | $22,051,160 | $14,774,199 | $15,859,824 |
| Fixed assets | $83,469,832 | $73,946,406 | $61,240,794 | $56,737,468 | $55,990,573 |
| Other long-term assets | $2,507,226 | $2,412,379 | $4,799,729 | $3,627,167 | $3,656,577 |
| Total long-term assets | $107,478,445 | $100,439,841 | $88,091,683 | $75,138,834 | $75,506,974 |
| Total assets | $176,637,593 | $169,761,805 | $170,047,358 | $144,144,761 | $142,043,154 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $2,565,927 | $3,536,574 | $4,251,127 | $2,463,654 | $2,303,202 |
| Other current liabilities | $725,215 | $932,090 | $772,034 | $898,519 | $553,877 |
| Total current liabilities | $3,291,142 | $4,468,664 | $5,023,161 | $3,362,173 | $2,857,079 |
| Debt | $9,956,469 | $8,130,898 | $8,554,742 | $8,822,442 | $9,180,865 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1,500,937 | $1,268,042 | $1,466,773 | $6,328,614 | $2,163,098 |
| Total long-term liabilities | $11,457,406 | $9,398,940 | $10,021,515 | $15,151,056 | $11,343,963 |
| Total liabilities | $14,748,548 | $13,867,604 | $15,044,676 | $18,513,229 | $14,201,042 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $85,107,843 | $58,707,699 | $62,901,282 | $56,501,156 | $59,234,192 |
| With donor restrictions | $76,781,202 | $97,186,502 | $92,101,400 | $69,130,376 | $68,607,920 |
| Net assets | $161,889,045 | $155,894,201 | $155,002,682 | $125,631,532 | $127,842,112 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $13,474,502 | $19,443,243 | $23,676,626 | $5,530,062 | $8,688,164 |
| Program service revenue | $43,561,032 | $42,299,800 | $43,689,774 | $44,632,533 | $45,816,516 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $2,695,169 | $6,266,684 | $4,639,836 | $1,771,641 | $2,443,638 |
| Other revenue | $1,955,078 | $1,378,020 | $1,004,397 | $674,306 | $900,281 |
| Total other revenue | $48,211,279 | $49,944,504 | $49,334,007 | $47,078,480 | $49,160,435 |
| Total revenue | $61,685,781 | $69,387,747 | $73,010,633 | $52,608,542 | $57,848,599 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $51,425,691 | $48,914,742 | $47,770,424 | $47,473,134 | $46,913,606 |
| Management and general | $5,706,243 | $6,448,251 | $5,689,319 | $5,074,988 | $5,924,887 |
| Fundraising | $1,500,097 | $984,322 | $1,199,607 | $985,276 | $1,341,715 |
| Total expenses | $58,632,031 | $56,347,315 | $54,659,350 | $53,533,398 | $54,180,208 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | $3,053,750 | $13,040,432 | $18,351,283 | ($924,856) | $3,668,391 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $3,053,750 | $13,040,432 | $18,351,283 | ($924,856) | $3,668,391 |
Compensation
| Name | Title | Compensation |
| Dr Kevin Brown | President | $209,067 |
| Timothy Wooster | Provost (partial Year) | $150,351 |
| Dr Mark J Troyer | VP For Institutional Advancement | $146,334 |
| Mark Whitworth | VP For Intercollegiate Athletics | $144,859 |
| Glenn R Hamilton | VP For Business Affairs | $132,535 |
| Jennifer McChord | VP For Enrollment Management | $114,060 |
| Dr Sarah B Baldwin | VP For Student Development | $110,602 |
| Sherry Powers | Provost (partial Year) | $19,359 |
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 5/1/2024. To update the information below, please email: [email protected]
History
Asbury University was founded in 1890 as the fulfillment of a pledge the Reverend John Wesley Hughes, a Methodist evangelist, had made as a student at Vanderbilt University a decade earlier. He chose Wilmore as the school's location because it was situated within his evangelistic preaching circuit and because the townspeople had shown a willingness to support the financing of the initial physical plant.
Originally named Kentucky Holiness College, the school was renamed to Asbury College to honor the founder of American Methodism, Bishop Francis Asbury. He was directly responsible for the organization of Bethel Academy in the 1790's. The first of its kind west of the Allegheny Mountains, Bethel Academy was a pioneering Methodist school, located on the banks of the Kentucky River, approximately four miles south of the present Asbury University campus.
On March 5, 2010, Asbury College was renamed to Asbury University, to reflect the institution's growth and further planned expansion in its master's level programs and international markets.
Asbury University opened its doors for instruction in September 1890, stating in its bulletin that, "While we give prominence to the religious, we give equal prominence to thorough mental training; thus giving liberal culture of mind and soul." Since 1893 the University has graduated more than 20,000 men and women, among whom are college presidents, denominational leaders, business executives, medical doctors, lawyers, school administrators, and professors. A host of pastors, missionaries, evangelists, and other full-time Christian workers are also among the alumni, who have placed the Asbury University imprint around the world.
Asbury University is an independent institution, held in trust by a self-perpetuating board of trustees. It is evangelical in its religious commitment, bound by its by-laws to those doctrinal standards established by John Wesley and his immediate successors. The University is not supported by any denomination nor does it receive government funds. Admission is open to any qualified student meeting its standards for matriculation.