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

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Transparency grade

D

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Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating329 of 111042 of 129
Fund acquisition rating164 of 111125 of 129
Resource allocation rating405 of 111146 of 129
Asset utilization rating732 of 111098 of 129

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%5%5%18%15%28%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%1%2%2%2%3%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
20%28%32%11%15%10%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%2%2%2%2%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
80%72%68%89%85%90%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%87%87%89%87%86%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%81%75%102%94%101%
Program output ratio Program output ratio =
Program services /
Total revenue
80%70%65%90%81%86%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%19%25%-2%6%-1%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%8%12%-1%3%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%11%10%9%11%11%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.330.320.370.380.39
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.692.452.072.092.132.41
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.440.810.670.780.810.94
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.2315.5116.3220.5223.2931.33
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.120.060.060.050.040.03
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
7.2913.8116.8914.7114.1012.36
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
24%8%9%13%10%11%
Debt ratio Debt ratio =
Debt /
Total assets
11%5%5%6%6%7%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
151%277%284%235%236%229%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$14,018,866$23,919,275$19,251,452$14,755,510$10,315,657
Receivables, inventories, prepaids$5,115,382$4,509,999$5,329,784$7,390,994$7,315,671
Short-term investments$50,187,716$53,526,401$44,424,691$44,389,676$39,631,425
Other current assets$0$0$0$0$0
Total current assets$69,321,964$81,955,675$69,005,927$66,536,180$57,262,753
Long-term investments$24,081,056$22,051,160$14,774,199$15,859,824$16,021,231
Fixed assets$73,946,406$61,240,794$56,737,468$55,990,573$57,735,513
Other long-term assets$2,412,379$4,799,729$3,627,167$3,656,577$7,197,682
Total long-term assets$100,439,841$88,091,683$75,138,834$75,506,974$80,954,426
Total assets$169,761,805$170,047,358$144,144,761$142,043,154$138,217,179
 
Liabilities20222021202020192018
Payables and accrued expenses$3,536,574$4,251,127$2,463,654$2,303,202$1,827,463
Other current liabilities$932,090$772,034$898,519$553,877$0
Total current liabilities$4,468,664$5,023,161$3,362,173$2,857,079$1,827,463
Debt$8,130,898$8,554,742$8,822,442$9,180,865$9,512,402
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$1,268,042$1,466,773$6,328,614$2,163,098$3,716,701
Total long-term liabilities$9,398,940$10,021,515$15,151,056$11,343,963$13,229,103
Total liabilities$13,867,604$15,044,676$18,513,229$14,201,042$15,056,566
 
Net assets20222021202020192018
Without donor restrictions$58,707,699$62,901,282$56,501,156$59,234,192$59,233,978
With donor restrictions$97,186,502$92,101,400$69,130,376$68,607,920$63,926,635
Net assets$155,894,201$155,002,682$125,631,532$127,842,112$123,160,613
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$19,443,243$23,676,626$5,530,062$8,688,164$5,162,565
Program service revenue$42,299,800$43,689,774$44,632,533$45,816,516$45,915,299
Membership dues$0$0$0$0$0
Investment income$6,266,684$4,639,836$1,771,641$2,443,638$1,513,182
Other revenue$1,378,020$1,004,397$674,306$900,281$914,767
Total other revenue$49,944,504$49,334,007$47,078,480$49,160,435$48,343,248
Total revenue$69,387,747$73,010,633$52,608,542$57,848,599$53,505,813
 
Expenses20222021202020192018
Program services$48,914,742$47,770,424$47,473,134$46,913,606$46,281,340
Management and general$6,448,251$5,689,319$5,074,988$5,924,887$6,093,814
Fundraising$984,322$1,199,607$985,276$1,341,715$1,462,813
Total expenses$56,347,315$54,659,350$53,533,398$54,180,208$53,837,967
 
Change in net assets20222021202020192018
Surplus (deficit)$13,040,432$18,351,283($924,856)$3,668,391($332,154)
Other changes in net assets$0$0$0$0$0
Total change in net assets$13,040,432$18,351,283($924,856)$3,668,391($332,154)

Compensation

NameTitleCompensation
Dr Kevin BrownPresident$199,060
Timothy WoosterProvost$154,119
Michael YoderAssistant Dean of Business$144,169
Dr Mark J TroyerVP For Institutional Advancement$139,442
Mark WhitworthVP For Intercollegiate Athletics$137,268
Glenn R HamiltonVP For Business Affairs$125,863
Dr Sarah B BaldwinVP For Student Development$107,124
Jennifer McChordVP For Enrollment Management & Marketing; Director$81,694

Compensation data as of: 6/30/2022


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.


Program accomplishments


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