Bennington College Corporation
- Assets
- $152.7m
- Revenue
- $73.1m
- Investments
- $160.6k
- Employees
- 959
- Location
- Bennington, VT
- Founding
- 05/1957
- Data as of
- 06/2022
- EIN
- 03-0179414
Organization Overview
Bennington College Corporation is located in Bennington, VT. The organization was established in 1957. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Bennington College Corporation employed 959 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bennington College Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Bennington College Corporation generated $73.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $78.1m during the year ending 06/2022. While expenses have increased by 4.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BENNINGTON COLLEGE IS A LIBERAL ARTS EDUCATIONAL INSTITUTION LOCATED IN BENNINGTON, VERMONT. THE TOTAL UNDERGRADUATE AND GRADUATE ENROLLMENT IS APPROXIMATELY 800 STUDENTS.
Describe the Organization's Program Activity:
UNDERGRADUATE PROGRAM: BENNINGTON COLLEGE HOLDS A DISTINGUISHED PLACE AMONG AMERICAN COLLEGES AND UNIVERSITIES. IT WAS THE FIRST TO INCLUDE THE VISUAL AND PERFORMING ARTS IN A LIBERAL ARTS EDUCATION, AND IT IS THE ONLY COLLEGE TO REQUIRE THAT ITS STUDENTS SPEND SEVEN WEEKS - EVERY YEAR - AT WORK IN THE WORLD (FIELD WORK TERM).BENNINGTON'S CENTER FOR THE ADVANCEMENT OF PUBLIC ACTION IS AN EXPRESSION OF THE COLLEGE'S COMMITMENT TO ENGAGING THE WORLD; BY EMBEDDING IN THE CURRICULUM AN ONGOING DYNAMIC BETWEEN PUBLIC RESPONSIBILITIES AND PRIVATE AMBITIONS, BENNINGTON AIMS TO ENSURE THAT ITS GRADUATES ARE COMMITTED TO, AND CAPABLE OF, EFFECTIVE ACTION IN THE WORLD. (CONTINUED ON SCHEDULE O)BENNINGTON STUDENTS DRAW IN THE FULL BREADTH OF THE COLLEGE'S CURRICULUM WHICH OFFERS CLASSES IN THE HUMANITIES, NATURAL SCIENCES, MATHEMATICS, SOCIAL SCIENCE, AND VISUAL AND PERFORMING ARTS - TO DESIGN INDIVIDUAL COURSES OF STUDY THAT ARE UNIFIED AND FUELED BY THEIR INTELLECT AND IMAGINATION, GUIDED BY THEIR FACULTY, AND SHAPED BY THEIR EXPERIENCE WORKING IN THE WORLD EACH YEAR.
GRADUATE PROGRAMS: BENNINGTON'S GRADUATE PROGRAMS ARE BUILT ON THE BELIEF THAT MAKING NEW WORK IS AT THE HEART OF THE EDUCATIONAL PROCESS. THE COLLEGE'S GRADUATE PROGRAMS ARE SMALL, INTENSIVE, AND SELECTIVE. BENNINGTON OFFERS A LOW-RESIDENCY MASTER OF FINE ARTS IN WRITING PROGRAM, WHICH IS NATIONALLY RECOGNIZED, AS WELL AS AN ON-CAMPUS MASTER OF FINE ARTS IN PERFORMING ARTS. IN 2021-2022, THESE PROGRAMS SERVED APPROXIMATELY 100 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Ader Trustee | Trustee | 1 | $0 |
Priscilla Alexander Trustee | Trustee | 1 | $0 |
Tracey Katsky Boomer Trustee | Trustee | 1 | $0 |
Susan Paris Borden Trustee | Trustee | 1 | $0 |
Matthew Clarke Trustee | Trustee | 1 | $0 |
Barbara Ushkow Deane Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corporation Food Service Provider | 6/29/22 | $3,442,727 |
Russell Construction Services Inc Contractor Services | 6/29/22 | $2,809,179 |
Educators Health Llc Health Insurance | 6/29/22 | $3,218,412 |
Hrh Management Llc Property Management/rent | 6/29/22 | $484,872 |
The Richards Group Insurance | 6/29/22 | $374,988 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,498,873 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,813,265 |
| Noncash contributions included in lines 1a–1f | $3,148,242 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,312,138 |
| Total Program Service Revenue | $53,606,884 |
| Investment income | $1,021,830 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $135,197 |
| Net Gain/Loss on Asset Sales | $909,274 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $49,070 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $73,080,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $23,521,523 |
| Grants and other assistance to Foreign Orgs/Individuals | $7,684,361 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,443,608 |
| Compensation of current officers, directors, key employees. | $785,577 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,206,846 |
| Pension plan accruals and contributions | $1,098,542 |
| Other employee benefits | $1,875,959 |
| Payroll taxes | $1,433,467 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,848 |
| Fees for services: Accounting | $120,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $185,039 |
| Fees for services: Other | $0 |
| Advertising and promotion | $66,585 |
| Office expenses | $495,865 |
| Information technology | $1,050,166 |
| Royalties | $0 |
| Occupancy | $5,806,369 |
| Travel | $464,311 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,550 |
| Interest | $1,418,666 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,537,322 |
| Insurance | $329,342 |
| All other expenses | $0 |
| Total functional expenses | $78,144,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,783,859 |
| Savings and temporary cash investments | $302,067 |
| Pledges and grants receivable | $29,408,909 |
| Accounts receivable, net | $2,608,264 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,030 |
| Inventories for sale or use | $227,057 |
| Prepaid expenses and deferred charges | $428,750 |
| Net Land, buildings, and equipment | $78,594,046 |
| Investments—publicly traded securities | $33,266,132 |
| Investments—other securities | $160,608 |
| Investments—program-related | $63,072 |
| Intangible assets | $0 |
| Other assets | $4,904,989 |
| Total assets | $152,748,783 |
| Accounts payable and accrued expenses | $4,488,217 |
| Grants payable | $0 |
| Deferred revenue | $4,959,187 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $51,393,355 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $60,840,759 |
| Net assets without donor restrictions | $20,723,997 |
| Net assets with donor restrictions | $71,184,027 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $152,748,783 |