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Faulkner University Foundation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Public Foundations (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$6.9k (2023)

Expenses
$5.45k (2023)

Total Assets
$1.55M (2023)

Total Liabilities
$1.56M (2023)

Source: Form 990 tax filings from 2015 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,900
Expenses
$5,454
Net Income
$1,446
Net Assets
-$1,955
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $6,900
100%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,553,099
Total Liabilities $1,555,054
Net Assets -$1,955
Compensation
Key Employees and Officers Compensation Related Other
Barry Buford (Vice President) $0 $21,882 $0
Dr Billy D Hilyer (President) $0 $89,487 $48,780
Hon Carole Medley (Trustee) $0 $0 $0
Jamie Horn (Trustee) $0 $95,024 $10,561
Ted Norton (Trustee) $0 $0 $0
Wilma Phillips (Secretary/Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$26,416
Expenses
$20,479
Net Income
$5,937
Net Assets
-$3,401
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $26,416
100%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,787,084
Total Liabilities $1,790,485
Net Assets -$3,401
Compensation
Key Employees and Officers Compensation Related Other
Barry Buford (Vice President) $0 $15,382 $0
Hon Carole Medley (Trustee) $0 $0 $0
Ted Norton (Trustee) $0 $0 $0
Jamie Horn (Trustee) $0 $83,833 $13,858
Dr Mike Williams (Trustee) $0 $132,888 $8,184
Dr Billy D Hilyer (President) $0 $89,317 $53,832
Dr John Tyson (Trustee) $0 $57,308 $91,303
Wilma Phillips (Secretary/Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$20,918
Expenses
$305,166
Net Income
-$284,248
Net Assets
-$9,338
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $6,147
29.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $14,771
70.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,178,956
Total Liabilities $1,188,294
Net Assets -$9,338
Compensation
Key Employees and Officers Compensation Related Other
Barry Buford (Vice President) $0 $15,631 $0
Hon Carole Medley (Trustee) $0 $0 $0
Ted Norton (Trustee) $0 $0 $0
Jamie Horn (Trustee) $0 $100,894 $14,858
Dr Mike Williams (Trustee) $0 $279,320 $14,931
Dr Billy D Hilyer (President) $0 $91,624 $49,309
Dr John Tyson (Trustee) $0 $58,160 $88,376
Wilma Phillips (Secretary/Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$19
Expenses
$1,550
Net Income
-$1,531
Net Assets
$234,403
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $6,940
> 100%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$6,921
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,500,804
Total Liabilities $1,266,401
Net Assets $234,403
Compensation
Key Employees and Officers Compensation Related Other
Dr Billy D Hilyer (President) $0 $87,107 $52,183
Barry Buford (Vice President) $0 $15,760 $0
Jamie Horn (Trustee) $0 $90,063 $18,475
Hon Carole Medley (Trustee) $0 $0 $0
Ted Norton (Trustee) $0 $0 $0
Dr John Tyson (Trustee) $0 $58,169 $91,325
Dr Mike Williams (Trustee) $0 $278,601 $18,621
Wilma Phillips (Secretary/Treasurer) $0 $20,148 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$948
Expenses
$3,500
Net Income
-$2,552
Net Assets
$173,072
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $8,736
> 100%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$7,788
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,433,217
Total Liabilities $1,260,145
Net Assets $173,072
Compensation
Key Employees and Officers Compensation Related Other
Dr Billy D Hilyer (President) $0 $91,244 $41,379
Barry Buford (Vice President) $0 $15,226 $0
Jamie Horn (Trustee) $0 $83,809 $11,864
Hon Carole Medley (Trustee) $0 $0 $0
Ted Norton (Trustee) $0 $0 $0
Dr John Tyson (Trustee) $0 $59,254 $87,061
Dr Mike Williams (Trustee) $0 $279,841 $12,001
Wilma Phillips (Secretary/Treasurer) $0 $74,394 $120

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$415
Expenses
$1,584
Net Income
-$1,169
Net Assets
$124,491
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $15,433
> 100%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$15,018
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,282,418
Total Liabilities $1,157,927
Net Assets $124,491
Compensation
Key Employees and Officers Compensation Related Other
Dr Billy D Hilyer (President) $0 $113,478 $40,264
Barry Buford (Vice President) $0 $15,113 $0
Jamie Horn (Trustee) $0 $97,539 $10,760
Hon Carole Medley (Trustee) $0 $0 $0
Ted Norton (Trustee) $0 $0 $0
Dr John Tyson (Trustee) $0 $57,325 $85,858
Dr Mike Williams (Trustee) $0 $277,196 $10,897
Henry Parker (Trustee Outgoing) $0 $0 $0
Wilma Phillips (Secretary/Treasurer) $0 $117,456 $503

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$17,941
Expenses
$121,093
Net Income
-$103,152
Net Assets
$167,817
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $40,148
> 100%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$22,207
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,423,505
Total Liabilities $1,255,688
Net Assets $167,817
Compensation
Key Employees and Officers Compensation Related Other
Dr Billy D Hilyer (President) $0 $126,619 $44,635
Jamie Horn (Trustee) $0 $86,795 $3,486
Hon Carole Medley (Trustee) $0 $0 $0
Ted Norton (Trustee) $0 $0 $0
Dr Henry Parker (Trustee) $0 $0 $0
Dr John Tyson (Trustee) $0 $62,396 $90,646
Dr Mike Williams (Trustee) $0 $273,978 $15,709
Barry Buford (Vice President) $0 $16,000 $0
Wilma Phillips (Secretary/Treasurer) $0 $117,297 $592

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$35,123
Expenses
$10,434
Net Income
$24,689
Net Assets
$270,969
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $35,634
> 100%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$511
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,448,311
Total Liabilities $1,177,342
Net Assets $270,969

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
-$4,002
Expenses
$47,387
Net Income
-$51,389
Net Assets
$246,280
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $13,884
Sales of Assets -$10,869
Other Income -$7,017
Notable Expenses Percent of Total Expenses
Charitable Disbursements $35,377
74.7%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $1,450,949
Total Liabilities $1,204,669
Net Assets $246,280
Compensation
Key Employees and Officers Compensation Other
Dr Billy D Hilyer (President) $0 $0
Barry Buford (Vice President) $0 $0
Wilma Phillips (Secretary/Treasurer) $0 $0
Dr Ben Bruce (Trustee) $0 $0
Jamie Horn (Trustee) $0 $0
Hon Carole Medley (Trustee) $0 $0
Ted Norton (Trustee) $0 $0
Dr Henry Parker (Trustee) $0 $0
David Short (Trustee) $0 $0

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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