Howard Payne University 
The information on this page was last updated 2/10/2026. If you see errors or omissions, please email: [email protected]
Summary
Howard Payne is a Christ-centered, close-knit academic community located in the heart of Texas since 1889.
Contact information
Mailing address:
Howard Payne University
1000 Fisk Street
Brownwood, TX 76801
Website: www.hputx.edu
Phone: 325-649-8020
Email: [email protected]
Organization details
EIN: 750800653
CEO/President: Cory Hines
Chairman: Robert Morrison
Board size: 35
Founder: Rev. Noah Turner Byars and Dr. John David Robnett
Ruling year: 1939
Tax deductible: Yes
Fiscal year end: 05/31
Member of ECFA: No
Member of ECFA since:
Purpose
Howard Payne University aspires to be a premier Christian university, intentionally engaging the life of the mind and the life of the Spirit.
Mission statement
Howard Payne University is a Christ-centered academic community dedicated to excellence by developing and equipping the whole person for intellectual inquiry, personal and professional integrity, and service to God and humanity.
Statement of faith
Articles
| 3/6/2026 | Orange County Rescue Mission Resigns from ECFA |
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 | | 764 of 1420 | 89 of 155 |
| Fund acquisition rating | | 298 of 1420 | 34 of 155 |
| Resource allocation rating | | 833 of 1420 | 81 of 155 |
| Asset utilization rating | | 1090 of 1421 | 135 of 155 |
According to the organization's Form 990, it received $2,261,799 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% | 8% | 8% | 14% | 7% | 9% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 2% | 2% | 2% | 2% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 15% | 30% | 26% | 15% | 21% | 13% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 3% | 3% | 2% | 2% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 85% | 70% | 74% | 85% | 79% | 87% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 83% | 84% | 83% | 84% | 84% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 84% | 85% | 93% | 91% | 96% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 70% | 71% | 77% | 77% | 80% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 16% | 15% | 7% | 9% | 4% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | 5% | 5% | 2% | 3% | 2% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 14% | 13% | 15% | 14% | 15% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.26 | 0.26 | 0.27 | 0.31 | 0.33 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.73 | 3.11 | 3.50 | 3.28 | 2.16 | 2.46 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.45 | 0.81 | 0.90 | 0.87 | 0.67 | 0.82 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.18 | 10.63 | 10.08 | 8.37 | 19.45 | 11.11 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.09 | 0.10 | 0.12 | 0.05 | 0.09 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.96 | 13.44 | 12.04 | 12.09 | 16.91 | 13.24 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2021 | 2020 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 20% | 7% | 6% | 4% | 3% | 5% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 2% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 357% | 369% | 360% | 311% | 284% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2021 | 2020 |
| Cash | $12,258,768 | $8,927,335 | $7,572,845 | $10,105,911 | $7,725,943 |
| Receivables, inventories, prepaids | $1,290,819 | $1,021,033 | $1,147,356 | $862,350 | $1,332,011 |
| Short-term investments | $34,016,002 | $31,830,163 | $31,531,518 | $38,917,184 | $31,217,735 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $47,565,589 | $41,778,531 | $40,251,719 | $49,885,445 | $40,275,689 |
| Long-term investments | $52,272,330 | $59,458,059 | $51,579,849 | $27,829,364 | $29,094,758 |
| Fixed assets | $43,705,311 | $40,113,998 | $38,465,401 | $29,750,344 | $29,656,853 |
| Other long-term assets | $4,445,931 | $5,074,646 | $1,855,550 | $209,661 | $120,020 |
| Total long-term assets | $100,423,572 | $104,646,703 | $91,900,800 | $57,789,369 | $58,871,631 |
| Total assets | $147,989,161 | $146,425,234 | $132,152,519 | $107,674,814 | $99,147,320 |
| Liabilities | 2025 | 2024 | 2023 | 2021 | 2020 |
| Payables and accrued expenses | $2,058,543 | $1,716,724 | $1,975,143 | $1,650,630 | $1,741,785 |
| Other current liabilities | $2,416,989 | $2,426,100 | $2,832,444 | $914,671 | $1,884,557 |
| Total current liabilities | $4,475,532 | $4,142,824 | $4,807,587 | $2,565,301 | $3,626,342 |
| Debt | $2,500,000 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $3,537,119 | $4,028,339 | $808,068 | $776,647 | $1,047,213 |
| Total long-term liabilities | $6,037,119 | $4,028,339 | $808,068 | $776,647 | $1,047,213 |
| Total liabilities | $10,512,651 | $8,171,163 | $5,615,655 | $3,341,948 | $4,673,555 |
| Net assets | 2025 | 2024 | 2023 | 2021 | 2020 |
| Without donor restrictions | $45,246,073 | $37,540,657 | $33,722,465 | $25,934,591 | $24,163,854 |
| With donor restrictions | $92,230,437 | $100,713,414 | $92,814,399 | $78,398,275 | $70,309,911 |
| Net assets | $137,476,510 | $138,254,071 | $126,536,864 | $104,332,866 | $94,473,765 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2021 | 2020 |
| Total contributions | $13,984,643 | $11,439,605 | $5,629,294 | $7,798,891 | $4,438,077 |
| Program service revenue | $25,780,961 | $25,155,921 | $23,714,938 | $24,036,620 | $24,107,377 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $6,267,412 | $7,713,980 | $8,580,818 | $5,113,413 | $6,087,645 |
| Other revenue | $2,757 | ($11,815) | ($19,497) | $9,950 | $11,500 |
| Total other revenue | $32,051,130 | $32,858,086 | $32,276,259 | $29,159,983 | $30,206,522 |
| Total revenue | $46,035,773 | $44,297,691 | $37,905,553 | $36,958,874 | $34,644,599 |
| Expenses | 2025 | 2024 | 2023 | 2021 | 2020 |
| Program services | $32,012,517 | $31,549,924 | $29,111,301 | $28,300,218 | $27,885,144 |
| Management and general | $5,395,270 | $4,997,861 | $5,251,200 | $4,721,857 | $4,912,658 |
| Fundraising | $1,078,272 | $960,685 | $812,958 | $558,795 | $412,981 |
| Total expenses | $38,486,059 | $37,508,470 | $35,175,459 | $33,580,870 | $33,210,783 |
| Change in net assets | 2025 | 2024 | 2023 | 2021 | 2020 |
| Surplus (deficit) | $7,549,714 | $6,789,221 | $2,730,094 | $3,378,004 | $1,433,816 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $7,549,714 | $6,789,221 | $2,730,094 | $3,378,004 | $1,433,816 |
Compensation
| Name | Title | Compensation |
| Dr Cory Hines | President | $356,476 |
| Mike Rodgers | CFO/VP Finance & Admin (part Year) | $156,349 |
| Dr Dale Meinecke | VP For Development | $144,868 |
| Donnie Auvenshine | VP For Academic Affairs | $141,701 |
| Bradley Lemler | Dean, School of Business | $124,748 |
| Nathan Penland | VP For Student Experience | $117,326 |
| Jodi Goode | Chief Information Officer | $117,176 |
| Emily Attaway | CFO/VP Finance & Admin | $92,166 |
Compensation data as of: 5/31/2025
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 2/10/2026. To update the information below, please email: [email protected]
History
Howard Payne College was founded at Indian Creek on June 29, 1889, by members of the Pecan Valley Baptist Association and Rev. Noah Turner Byars and Dr. John David Robnett. They named the college after the first major benefactor, Edward Howard Payne, the brother-in-law of Dr. Robnett. HPC held its first classes in 1890 and five years later granted its first degree to J.D. Robnett. In 1913, the yellow jacket was selected as the university mascot.
Dr. Thomas H. Taylor led the university through the Great Depression, which began just two months into his presidency. According to Dr. Robert Mangrum, HPU historian, it was made apparent to Dr. Taylor at the 1930 Texas Baptist convention that the BGCT had decided to close the institution due to an inability to continue funding. Dr. Mangrum writes that a faculty prayer meeting was held when Dr. Taylor returned to Brownwood and it was decided that HPC would operate with the receipts and endowment interest with no deficits.
In 1953, Daniel Baker College, a Presbyterian college located in Brownwood and founded in the same year as Howard Payne, consolidated with HPC. After leading the college through the hardship of the Great Depression and helping the campus expand, Dr. Taylor retired as president. He was the university's longest-serving president after 26 years in the role
Second half of the 20th Century
Following Dr. Taylor's retirement, Dr. Guy D. Newman was named president of the university. As president, Dr. Newman founded the Douglas MacArthur Academy of Freedom. Now called the Guy D. Newman Honors Academy, the program continues to be housed in the Academy of Freedom building. Dr. Newman retired in 1972.
In October 1974, under the presidency of Dr. Roger Brooks, Howard Payne College became Howard Payne University.
Dr. Don Newbury '61 served as the president of HPU from 1985 to 1997. During his presidency, the university increased enrollment significantly and underwent numerous facility upgrades and additions. Due to his penchant for sharing popcorn with students from his home near campus, he is fondly remembered as the "Popcorn President." Also, during Dr. Newbury's presidency, the university announced a newly designed mascot, "Buzzsaw," in 1996.
The new millennium
HPU experienced one of its most significant athletics successes during the 2000s. During the 2008-2009 season, the HPU women's basketball team went 33-0 and capped their perfect season by winning the 2008 NCAA Division III Women's Basketball National Championship.
In 2019, Dr. Cory Hines '97 was named president at HPU. Ground was broken for the Newbury Family Welcome Center in 2020, with construction scheduled for completion in spring 2022. Additionally, the university began restoring the Douglas MacArthur Academy of Freedom's wings in 2020.
Numerous other campus improvement projects were completed in 2020 and 2021, including renovations of the Veda Hodge Residence Hall lobby, the Newbury Place Student Apartments and the lobbies of the Guy D. Newman Hall of American Ideals.
The university unveiled a new visual identity in the fall of 2021, consisting of new logos for the university and athletics, as well as a redesign of the Buzzsaw mascot.