Bethel University Inc
- Assets
- $46.2m
- Revenue
- $46.4m
- Investments
- $0.0
- Employees
- 916
- Location
- Mishawaka, IN
- Founding
- 10/1948
- Data as of
- 06/2022
- EIN
- 35-0935587
Organization Overview
Bethel University Inc is located in Mishawaka, IN. The organization was established in 1948. 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, Bethel University Inc employed 916 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethel University Inc 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, Bethel University Inc generated $46.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $46.0m during the year ending 06/2022. While expenses have increased by 1.3% per year over the past 6 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
BETHEL UNIVERSITY PROVIDES LIBERATING ACADEMIC AND CO-CURRICULAR PROGRAMS TO CHALLENGE THE MIND, ENLARGE THE VISION AND EQUIP THE WHOLE PERSON FOR LIFE-LONG SERVICE.
Describe the Organization's Program Activity:
BETHEL UNIVERSITY PROVIDED EDUCATIONAL SERVICES TO APPROXIMATELY 1,400 STUDENTS DURING THE 2021/2022 ACADEMIC YEAR. THIS INCLUDES OVER FIFTY (50) ACADEMIC PROGRAMS, AWARDING BOTH GRADUATE AND UNDERGRADUATE DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Bellefeuille Interim President | Officer | 40 | $186,076 |
Jerry White Vice President & CFO | Officer | 40 | $122,225 |
Gregg Chenoweth Left 0521 Former President | 40 | $111,781 | |
Terrell Elam Left 0222 Vice President For Enrollment | Officer | 40 | $109,570 |
Bradley Smith Start 0621 Vice President For Enrollment | Officer | 40 | $101,136 |
Shawn Holtgren Vice President For Student Dev | Officer | 40 | $78,134 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Food Service | 6/29/22 | $2,143,795 |
Wiley Education Services Online Program Mgmt | 6/29/22 | $778,617 |
Jenzabar Erp Software/support | 6/29/22 | $203,468 |
D A Dodd Mech Contractor | 6/29/22 | $142,129 |
Micah Horner Roofing Contractor | 6/29/22 | $140,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $133,692 |
| Related organizations | $8,233 |
| Government grants | $3,938,049 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,972,206 |
| Noncash contributions included in lines 1a–1f | $213,484 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,052,180 |
| Total Program Service Revenue | $38,577,636 |
| Investment income | $161,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $455,848 |
| Net Income from Fundraising Events | -$64,281 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $21,920 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,428,108 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,116,678 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $898,149 |
| Compensation of current officers, directors, key employees. | $369,615 |
| Compensation to disqualified persons | $249,735 |
| Other salaries and wages | $11,111,958 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,884,184 |
| Payroll taxes | $829,879 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,155 |
| Fees for services: Accounting | $69,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,119 |
| Fees for services: Other | $4,267,878 |
| Advertising and promotion | $434,701 |
| Office expenses | $1,057,413 |
| Information technology | $717,237 |
| Royalties | $0 |
| Occupancy | $1,154,123 |
| Travel | $1,093,114 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $158,000 |
| Interest | $591,541 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,127,610 |
| Insurance | $237,003 |
| All other expenses | $0 |
| Total functional expenses | $46,049,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,380 |
| Savings and temporary cash investments | $3,880,656 |
| Pledges and grants receivable | $588,750 |
| Accounts receivable, net | $1,217,619 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $170,009 |
| Prepaid expenses and deferred charges | $503,528 |
| Net Land, buildings, and equipment | $27,841,326 |
| Investments—publicly traded securities | $9,107,661 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,866,120 |
| Total assets | $46,181,049 |
| Accounts payable and accrued expenses | $1,788,003 |
| Grants payable | $0 |
| Deferred revenue | $1,213,581 |
| 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 | $12,732,332 |
| Unsecured mortgages and notes payable | $667,097 |
| Other liabilities | $640,763 |
| Total liabilities | $17,041,776 |
| Net assets without donor restrictions | $13,573,140 |
| Net assets with donor restrictions | $15,566,133 |
| 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 | $46,181,049 |