William Carey University 
The information on this page was last updated 1/5/2026. If you see errors or omissions, please email: [email protected]
Summary
We are a Christian university dedicated to guiding students in finding and achieving their higher calling.
Contact information
Mailing address:
William Carey University
710 William Carey Parkway
Hattiesburg, MS 39401
Website: www.wmcarey.edu
Phone: 601-318-6051
Email: [email protected]
Organization details
EIN: 640329300
CEO/President: Ben Burnett
Chairman: Bill Ray
Board size: 23
Founder: W.I. Thames
Ruling year: 1973
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
William Carey University is a community of learners which seeks to blend faith and learning with living. Within this unique nurturing and challenging environment, students prepare to fulfill their diverse callings in the larger global community.
Mission statement
William Carey University provides a quality education challenging students to excel in scholarship, leadership, and service in a caring community rooted in Christian values and its Baptist namesake.
Statement of faith
Articles
| 4/24/2026 | William Jessup University Jumps Into Top 40% for Financial Efficiency |
| 2/20/2026 | Administer Justice Earns Top Ratings, Altrua HealthShare Drops Into 'Withhold Giving' Designation |
Donor confidence score
Show donor confidence score details
To understand our donor confidence score, click here.
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 | | 505 of 1479 | 66 of 155 |
| Fund acquisition rating | | 347 of 1479 | 37 of 155 |
| Resource allocation rating | | 504 of 1479 | 48 of 155 |
| Asset utilization rating | | 1007 of 1480 | 124 of 155 |
According to the organization's Form 990, it received $11,836,142 in government grants in 2025.
To understand our financial efficiency ratings, click here.
Financial ratios
| Funding ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 5% | 4% | 7% | 4% | 5% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 1% | 1% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 15% | 15% | 19% | 8% | 12% | 12% |
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 | 85% | 85% | 81% | 92% | 88% | 88% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 88% | 72% | 71% | 67% | 69% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 87% | 86% | 99% | 90% | 96% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 76% | 62% | 71% | 60% | 66% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 13% | 14% | 1% | 10% | 4% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | 7% | 7% | 0% | 5% | 1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 11% | 27% | 28% | 33% | 31% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.52 | 0.37 | 0.36 | 0.37 | 0.32 | 0.30 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.73 | 3.82 | 3.57 | 3.99 | 3.97 | 3.91 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.45 | 1.40 | 1.30 | 1.48 | 1.29 | 1.18 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.18 | 5.51 | 8.09 | 9.13 | 6.70 | 6.27 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.18 | 0.12 | 0.11 | 0.15 | 0.16 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.99 | 6.99 | 8.08 | 7.23 | 7.92 | 8.56 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 20% | 18% | 19% | 20% | 22% | 24% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 13% | 15% | 17% | 18% | 20% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 223% | 224% | 217% | 241% | 251% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2021 | 2020 |
| Cash | $22,495,282 | $24,152,597 | $24,986,450 | $29,670,793 | $32,760,473 |
| Receivables, inventories, prepaids | $6,792,360 | $9,635,538 | $7,119,448 | $8,086,481 | $8,816,038 |
| Short-term investments | $47,795,935 | $42,262,357 | $30,896,692 | $27,225,423 | $22,412,127 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $77,083,577 | $76,050,492 | $63,002,590 | $64,982,697 | $63,988,638 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $212,359,513 | $191,051,992 | $184,146,059 | $188,951,382 | $182,559,966 |
| Other long-term assets | $4,976,457 | $4,588,782 | $4,125,796 | $4,199,529 | $3,638,613 |
| Total long-term assets | $217,335,970 | $195,640,774 | $188,271,855 | $193,150,911 | $186,198,579 |
| Total assets | $294,419,547 | $271,691,266 | $251,274,445 | $258,133,608 | $250,187,217 |
| Liabilities | 2025 | 2024 | 2023 | 2021 | 2020 |
| Payables and accrued expenses | $8,502,638 | $5,929,095 | $3,731,671 | $5,111,645 | $4,359,885 |
| Other current liabilities | $5,492,462 | $3,475,756 | $3,168,371 | $4,590,989 | $5,850,508 |
| Total current liabilities | $13,995,100 | $9,404,851 | $6,900,042 | $9,702,634 | $10,210,393 |
| Debt | $39,049,622 | $41,084,728 | $42,229,564 | $46,171,032 | $50,352,602 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $2,074 | $6,731 | $38,267 | $136,737 | $179,174 |
| Total long-term liabilities | $39,051,696 | $41,091,459 | $42,267,831 | $46,307,769 | $50,531,776 |
| Total liabilities | $53,046,796 | $50,496,310 | $49,167,873 | $56,010,403 | $60,742,169 |
| Net assets | 2025 | 2024 | 2023 | 2021 | 2020 |
| Without donor restrictions | $184,981,808 | $179,720,052 | $171,163,752 | $169,251,833 | $160,994,642 |
| With donor restrictions | $56,390,943 | $41,474,904 | $30,942,820 | $32,871,372 | $28,450,406 |
| Net assets | $241,372,751 | $221,194,956 | $202,106,572 | $202,123,205 | $189,445,048 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2021 | 2020 |
| Total contributions | $19,197,489 | $21,483,200 | $7,863,617 | $11,509,298 | $9,420,176 |
| Program service revenue | $101,243,934 | $88,040,671 | $82,814,676 | $79,492,198 | $67,160,910 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $2,804,171 | $4,366,921 | $1,078,959 | $2,036,682 | $1,268,248 |
| Other revenue | $1,889,770 | $992,642 | $1,926,458 | $378,271 | $356,144 |
| Total other revenue | $105,937,875 | $93,400,234 | $85,820,093 | $81,907,151 | $68,785,302 |
| Total revenue | $125,135,364 | $114,883,434 | $93,683,710 | $93,416,449 | $78,205,478 |
| Expenses | 2025 | 2024 | 2023 | 2021 | 2020 |
| Program services | $94,886,433 | $71,694,492 | $66,291,007 | $55,728,145 | $51,687,082 |
| Management and general | $12,417,425 | $26,467,793 | $26,221,447 | $27,573,639 | $23,244,864 |
| Fundraising | $955,909 | $764,385 | $579,603 | $483,841 | $473,965 |
| Total expenses | $108,259,767 | $98,926,670 | $93,092,057 | $83,785,625 | $75,405,911 |
| Change in net assets | 2025 | 2024 | 2023 | 2021 | 2020 |
| Surplus (deficit) | $16,875,597 | $15,956,764 | $591,653 | $9,630,824 | $2,799,567 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $16,875,597 | $15,956,764 | $591,653 | $9,630,824 | $2,799,567 |
Compensation
| Name | Title | Compensation |
| Italo R Subbarao | Professor of Clinical Sciences and Dean of College of Osteopathic Medicine | $557,329 |
| Benjamin C Burnett | Professor of Education; President and Chief Executive Officer | $333,614 |
| Tiffany L Worthington | Associate Professor of Clinical Sciences and Associate Dean of Clinical Sciences | $282,604 |
| Ethan B Worthington | Associate Professor of Clinical Sciences and Chair of Omm | $271,469 |
| Edward R Friedlander | Professor of Preclinical Sciences | $234,618 |
| Carissa S Rosten | Assistant Professor of Clinical Sciences; Director, Omm Scholars Program | $231,277 |
| Eng T Huu | Associate Professor of Clinical Sciences | $224,710 |
| Janet K Williams | Professor of Nursing; Vice President, College of Health Sciences | $200,981 |
| Grant Guthrie | Vice President For Business Affairs and Cheif Financial Officer | $164,005 |
| Cassandra L Conner | Prof. of Education; VP For the Tradition Campus; Assoc. Provost For Distance Learning | $133,577 |
| Daniel P Caldwell | Former Vice President For Academic Affairs , and Provost | $92,982 |
| Noal B Cochran | Professor of Education; Vice President For Academic Affairs, and Provost | $79,367 |
Compensation data as of: 6/30/2025
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 1/5/2026. To update the information below, please email: [email protected]
History
Named for the Father of Modern Missions and founded by a passionate, dedicated lifelong educator, Carey celebrates a rich history of resilience, excellence, and Christian values.
https://www.wmcarey.edu/about/wcu-history