Gardner-Webb University 
The information on this page was last updated 5/18/2023. If you see errors or omissions, please email: [email protected]
Summary
Located in the North Carolina foothills, Gardner-Webb University is a private, Christian, liberal arts university that prepares students to become critical thinkers, leaders and servants in the global community.
Contact information
Mailing address:
Gardner-Webb University
110 South Main Street
PO Box 997
Boiling Springs, NC 28017
Website: gardner-webb.edu
Phone: 704-406-4000
Email: [email protected]
Organization details
EIN: 560529972
CEO/President: Dr. William Downs
Chairman: Jennifer Marion Mills
Board size: 33
Founder: Two Baptist Associations
Ruling year: 2000
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Rigorous and innovative degree programs, combined with distinctive experiential learning opportunities, shape students into thinkers, doers, and world-changers. Forged within a supportive and diverse Christian community, our students emerge ready to impact their chosen professions, equipped with the skills to advance the frontiers of knowledge, and inspired to make a positive and lasting difference in the lives of others.
Mission statement
The mission of Gardner-Webb University is to prepare graduates for leadership and service in their professional careers and in their personal lives.
Statement of faith
Christian Heritage
Acknowledging one God - Creator, Redeemer and Sustainer of life; committing to the lordship of Christ and self-giving service displayed in Christ-like moral action that respects the dignity and value of every person.
Baptist Heritage
Affirming historic Baptist values such as the authority of Scripture in matters of faith and practice, the freedom of individual conscience and the right of people to worship God as they choose, the priesthood of all believers, the autonomy of the local church, and the separation of church and state.
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 | | 296 of 1106 | 28 of 129 |
| Fund acquisition rating | | 566 of 1107 | 64 of 129 |
| Resource allocation rating | | 286 of 1107 | 32 of 129 |
| Asset utilization rating | | 381 of 1106 | 46 of 129 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 10% | 9% | 10% | 12% | 22% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 1% | 1% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 22% | 9% | 7% | 9% | 8% | 5% |
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 | 78% | 91% | 93% | 91% | 92% | 95% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 88% | 88% | 87% | 88% | 88% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 96% | 94% | 103% | 99% | 101% |
Program output ratio Program output ratio = Program services / Total revenue | 78% | 84% | 83% | 90% | 86% | 89% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 4% | 6% | -3% | 1% | -1% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | 4% | 4% | -3% | 1% | -1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 11% | 11% | 12% | 11% | 11% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.64 | 0.58 | 0.63 | 0.59 | 0.59 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.64 | 1.72 | 1.63 | 1.68 | 1.92 | 2.12 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.40 | 1.11 | 0.95 | 1.05 | 1.12 | 1.24 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.60 | 11.10 | 12.75 | 9.96 | 10.46 | 7.95 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.09 | 0.08 | 0.10 | 0.10 | 0.13 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.34 | 9.86 | 11.63 | 10.24 | 9.66 | 8.43 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 20% | 20% | 23% | 23% | 23% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 14% | 14% | 16% | 16% | 16% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 151% | 124% | 138% | 122% | 132% | 132% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $25,267,148 | $23,028,617 | $22,755,599 | $24,154,944 | $22,505,844 |
| Receivables, inventories, prepaids | $7,062,292 | $8,906,620 | $9,235,804 | $9,695,059 | $4,996,406 |
| Short-term investments | $56,875,143 | $68,248,986 | $57,641,273 | $48,405,482 | $45,105,639 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $89,204,583 | $100,184,223 | $89,632,676 | $82,255,485 | $72,607,889 |
| Long-term investments | $12,547,665 | $9,881,747 | $6,286,706 | $19,053,725 | $22,036,105 |
| Fixed assets | $51,434,672 | $53,048,724 | $54,047,121 | $55,864,866 | $58,653,873 |
| Other long-term assets | $395,975 | $385,146 | $405,483 | $448,847 | $424,765 |
| Total long-term assets | $64,378,312 | $63,315,617 | $60,739,310 | $75,367,438 | $81,114,743 |
| Total assets | $153,582,895 | $163,499,840 | $150,371,986 | $157,622,923 | $153,722,632 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $4,272,179 | $3,883,851 | $3,867,915 | $4,301,510 | $5,631,679 |
| Other current liabilities | $3,762,266 | $3,974,909 | $5,130,583 | $3,563,251 | $3,499,752 |
| Total current liabilities | $8,034,445 | $7,858,760 | $8,998,498 | $7,864,761 | $9,131,431 |
| Debt | $21,122,860 | $22,489,999 | $23,775,871 | $24,990,441 | $24,890,044 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1,495,955 | $1,636,047 | $1,929,649 | $2,880,471 | $898,934 |
| Total long-term liabilities | $22,618,815 | $24,126,046 | $25,705,520 | $27,870,912 | $25,788,978 |
| Total liabilities | $30,653,260 | $31,984,806 | $34,704,018 | $35,735,673 | $34,920,409 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $53,481,564 | $54,200,171 | $51,266,999 | $54,737,504 | $56,296,622 |
| With donor restrictions | $69,448,071 | $77,314,863 | $64,400,969 | $67,149,746 | $62,505,601 |
| Net assets | $122,929,635 | $131,515,034 | $115,667,968 | $121,887,250 | $118,802,223 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $9,714,371 | $7,471,898 | $8,528,407 | $7,858,165 | $4,524,521 |
| Program service revenue | $87,366,733 | $88,212,144 | $84,575,897 | $83,767,568 | $82,117,572 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $6,018,628 | $5,277,327 | ($1,657,533) | $2,022,323 | $2,085,327 |
| Other revenue | $35,800 | ($4,492) | $11,815 | $16,882 | $743,373 |
| Total other revenue | $93,421,161 | $93,484,979 | $82,930,179 | $85,806,773 | $84,946,272 |
| Total revenue | $103,135,532 | $100,956,877 | $91,458,586 | $93,664,938 | $89,470,793 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $86,628,090 | $84,070,944 | $82,367,145 | $80,891,303 | $79,386,343 |
| Management and general | $11,201,408 | $10,564,650 | $11,286,931 | $10,594,812 | $9,950,444 |
| Fundraising | $990,292 | $648,309 | $851,231 | $920,134 | $980,443 |
| Total expenses | $98,819,790 | $95,283,903 | $94,505,307 | $92,406,249 | $90,317,230 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $4,315,742 | $5,672,974 | ($3,046,721) | $1,258,689 | ($846,437) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $4,315,742 | $5,672,974 | ($3,046,721) | $1,258,689 | ($846,437) |
Compensation
| Name | Title | Compensation |
| William M Downs | President | $395,009 |
| James Craft | Head Men's Bb Coach | $224,792 |
| Benjamin C Leslie | Provost and Executive Vice President | $183,536 |
| Felice Policastro | Professor | $183,446 |
| Prince Bull | Professor/Dean of School of Education | $176,470 |
| Anthony Negbenebor | Professor of Economics | $171,172 |
| Ami Steele | Pa Program Director | $167,560 |
| Timothy Shuey | VP For Administration | $124,023 |
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 5/18/2023. To update the information below, please email: [email protected]
History
Located in the North Carolina foothills on over 225 acres, Gardner-Webb University is a private, Christian, liberal arts university. Gardner-Webb emphasizes a strong student-centered experience and rigorous academics to prepare students to become effective leaders within the global community. Ignite your future at Gardner-Webb.edu.
From our humble beginnings as Boiling Springs High School in 1905, to our transition to higher education as Gardner-Webb College in 1942, to our evolution in 1993 as Gardner-Webb University, we've come a long way.
Gardner-Webb University was founded as a boarding high school before transitioning into a junior college and four-year institution. Today Gardner-Webb is a thriving regional university featuring a variety of bachelor's, master's and doctoral programs.
A partnership between the Kings Mountain Baptist Association and the Sandy Run Baptist Association established the Boiling Springs High School on December 2, 1905, as an institution "where the young...could have the best possible educational advantages under distinctive Christian influence." This close relationship with area churches continues today.
In response to the changing educational needs of the area, the school was transformed into the Boiling Springs College in 1928. The Great Depression created many challenges for small colleges around the country, but the survival of Gardner-Webb's predecessor was secured by the sacrifices of many loyal financial supporters.
In 1942, North Carolina Governor O. Max Gardner and his wife Fay Webb Gardner began devoting energy, guidance, time and wealth to strengthening the College. The influence of his family was so profound that the board of trustees voted to change the name of the institution to honor the governor, his wife and their families. Gardner-Webb College was born.
The decades following World War II were years of physical growth and academic development. New buildings were erected as enrollments continued to increase. A major step in Gardner-Webb's development was its full accreditation as a four-year college in 1971-1972. In 1980 the institution began offering a Master of Arts degree in education.
The institution officially became known as Gardner-Webb University in January 1993, culminating years of preparation. Gardner-Webb University's six professional schools and 14 academic departments offer more than 80 undergraduate and graduate major fields of study.
Historically the University has played significant roles in teacher education and ministerial preparation for church-related vocations. Programs of instruction and experiences designed to prepare teachers and ministers continue to be major objectives of the University.
Although there have been many changes over the years, Gardner-Webb University holds in high esteem its commitment to Christian principles and values as the best foundation for the development of human personality and social order.
Nationally recognized for character-building programs, Gardner-Webb challenges students to ignite their passions, purposes and professions within an environment that challenges the mind, heart and soul.