Palm Beach Atlantic University

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 2/10/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

Founded in 1968, PBA is a top-notch Christian university preparing students to lead fulfilling lives through learning, leadership and service. Founded under the providence of God with the conviction that there is a need for a university in this community that will expand the minds, develop the moral character and enrich the spiritual lives of all the people who may come within the orbit of its influence, Palm Beach Atlantic University shall stand as a witness for Jesus Christ, expressed directly through its administration, faculty, and students.


Contact information

Mailing address:
Palm Beach Atlantic University
PO BOX 24708
West Palm Beach, FL 33416

Website: pba.edu

Phone: 888-468-6722

Email: louis_park@pba.edu


Organization details

EIN: 591092732

CEO/President: Debra Schwinn

Chairman: Timothy S. Sotos

Board size: 35

Founder: Jess C. Moody

Year founded: 1970

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

Palm Beach Atlantic University is a comprehensive Christian university with a core emphasis in the liberal arts. Its purpose is to offer a curriculum of studies and a program of student activities dedicated to the development of moral character, the enrichment of spiritual lives, and the perpetuation of growth in Christian ideals. The vision for Palm Beach Atlantic University is to be a premier Christian university whose graduates are intellectually prepared, possess high moral character, demonstrate outstanding citizenship and are servant leaders in their communities, the nation and the world.


Mission statement

The mission of Palm Beach Atlantic University is to prepare students for lifelong learning and leadership by offering excellent undergraduate, graduate, and professional programs of study in Arts, Humanities, Sciences, and selected professions. Palm Beach Atlantic University is a private, independent university dedicated to the intentional integration of Christian principles. As a community of learners, the university provides students with a rigorous educational environment that leads to intellectual, spiritual, and personal character development.


Statement of faith

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating432 of 81767 of 100
Fund acquisition rating453 of 81758 of 100
Resource allocation rating399 of 81752 of 100
Asset utilization rating415 of 81755 of 100

Financial ratios

Funding ratiosSector median20192018201720162015
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
19%23%12%14%14%16%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%1%1%1%1%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
10%6%11%9%11%9%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%1%1%1%2%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
90%94%89%91%89%91%
 
Operating ratiosSector median20192018201720162015
Program expense ratio Program expense ratio =
Program services /
Total expenses
85%84%80%81%80%73%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%103%93%100%97%99%
Program output ratio Program output ratio =
Program services /
Total revenue
82%87%75%81%78%72%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%-3%7%0%3%1%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%-2%4%0%2%1%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%14%19%18%19%26%
 
Investing ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.530.500.500.490.47
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.884.372.182.112.062.08
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.692.311.101.051.020.98
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
5.868.9317.5812.7016.1713.85
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.170.110.060.080.060.07
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.804.6210.3310.5811.0911.41
 
Solvency ratiosSector median20192018201720162015
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%21%21%23%24%25%
Debt ratio Debt ratio =
Debt /
Total assets
17%17%17%18%19%20%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
142%151%157%155%154%160%

Financials

Balance sheet
 
Assets20192018201720162015
Cash$17,400,999$18,068,526$21,255,907$26,471,609$25,798,405
Receivables, inventories, prepaids$32,048,733$31,338,977$32,845,606$33,510,556$32,921,654
Short-term investments$697,605$52,349,425$49,624,706$44,122,781$45,708,425
Other current assets$0$0$0$0$0
Total current assets$50,147,337$101,756,928$103,726,219$104,104,946$104,428,484
Long-term investments$58,008,491$5,480,056$4,820,768$5,552,919$6,023,557
Fixed assets$110,668,552$114,200,309$110,087,215$104,520,474$106,928,484
Other long-term assets$521,394$194,629$242,097$334,499$269,200
Total long-term assets$169,198,437$119,874,994$115,150,080$110,407,892$113,221,241
Total assets$219,345,774$221,631,922$218,876,299$214,512,838$217,649,725
 
Liabilities20192018201720162015
Payables and accrued expenses$3,998,680$4,248,253$6,197,793$4,617,995$4,754,279
Other current liabilities$1,619,626$1,539,713$1,971,767$1,818,298$2,786,411
Total current liabilities$5,618,306$5,787,966$8,169,560$6,436,293$7,540,690
Debt$36,737,778$38,596,513$38,986,959$40,930,032$42,832,439
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$2,833,594$2,664,001$3,751,318$4,653,011$4,642,723
Total long-term liabilities$39,571,372$41,260,514$42,738,277$45,583,043$47,475,162
Total liabilities$45,189,678$47,048,480$50,907,837$52,019,336$55,015,852
 
Net assets20192018201720162015
Unrestricted$93,565,257$97,197,944$93,251,546$88,110,731$89,263,081
Temporarily restricted$0$53,505,829$53,014,108$53,867,492$53,491,487
Permanently restricted$80,590,839$23,879,669$21,702,808$20,515,279$19,879,305
Net assets$174,156,096$174,583,442$167,968,462$162,493,502$162,633,873
 
Revenues and expenses
 
Revenue20192018201720162015
Total contributions$6,534,831$12,699,833$10,223,832$11,611,885$9,263,306
Program service revenue$101,581,291$98,571,645$95,449,259$93,715,411$89,224,970
Membership dues$0$0$0$0$0
Investment income$4,020,012$7,605,151$2,584,000$2,730,075$3,920,456
Other revenue$396,380$444,023$369,014$408,198$471,712
Total other revenue$105,997,683$106,620,819$98,402,273$96,853,684$93,617,138
Total revenue$112,532,514$119,320,652$108,626,105$108,465,569$102,880,444
 
Expenses20192018201720162015
Program services$97,585,010$89,237,222$87,467,110$84,399,210$73,963,236
Management and general$16,546,108$20,781,696$19,485,822$19,691,525$26,494,117
Fundraising$1,512,519$1,501,179$1,477,777$1,586,638$1,439,551
Total expenses$115,643,637$111,520,097$108,430,709$105,677,373$101,896,904
 
Change in net assets20192018201720162015
Surplus (deficit)($3,111,123)$7,800,555$195,396$2,788,196$983,540
Other changes in net assets$0$0$0$0$0
Total change in net assets($3,111,123)$7,800,555$195,396$2,788,196$983,540

Compensation

NameTitleCompensation
William FlemingPresident$429,754
John KautzVice President For Finance$214,021
Randolph E RichardsProvost, CAO$208,459
Jeffrey LewisDean of Gregory School of Pharmacy$199,609
Timothy WorleyVice President For Admissi$168,766
Vicki PughVice President For Develop$157,010
Curt CarlsonAssistant Professor$154,964
Robert LloydDean of the School of Arts and Sciences$153,042
Dana StrachanAssociate Dean For Academics$147,496
Adwoa NornooAssistant Professor$143,957
Carolyn StoneVP For Intercollegiate Athletics$135,047
Connie ShepherdExecutive VP Strategy & Planning$71,148

Compensation data as of: 6/30/2019


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 2/10/2021. To update the information below, please email: info@ministrywatch.com


History

In a time of cultural unsettlement, Palm Beach Atlantic University was founded in 1968 as a coeducational Christian liberal arts university. The first classes at Palm Beach Atlantic University, formerly Palm Beach Atlantic College named for its location in the Palm Beaches, were held in the fall of 1968 in downtown West Palm Beach at 1101 South Olive Avenue in the former facilities of the First Baptist Church. PBA held its first graduation in the spring of 1972 and later that year received initial accreditation from the regional accrediting association. Over the years, Palm Beach Atlantic has expanded to approximately 29 acres of land from the Intracoastal Waterway west along Okeechobee Boulevard to Dixie Highway, south to Jefferson Street, and back east to the waterway but all began with the first building, the Lassiter Student Center, which was occupied in 1983. Currently, PBA's main campus is located on Flagler Drive with stunning views of the Intracoastal, and steps away from Palm Beach.


Program accomplishments


Needs