Beloit College is located in Beloit, WI. The organization was established in 1941. 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, Beloit College employed 1,057 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beloit College 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, Beloit College generated $86.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $84.0m during the year ending 06/2022. While expenses have increased by 0.3% 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
BELOIT COLLEGE IS A RESIDENTIAL, INDEPENDENT, NATIONAL LIBERAL ARTS COLLEGE AND WISCONSIN'S OLDEST CONTINUOUS INSTITUTION OF HIGHER LEARNING. THE COLLEGE IS A NATIONAL LEADER IN DELIVERING A RIGOROUS, TIME-TESTED LIBERAL ARTS EXPERIENCE THAT STUDENTS ARE REQUIRED TO APPLY AND TEST IN THEIR CHOSEN FIELDS OF STUDY, LOCAL COMMUNITY, SOCIAL ORGANIZATIONS AND AROUND THE WORLD. THE COLLEGE'S COMMITMENT TO ITS STUDENTS, FACULTY, STAFF, NAMESAKE CITY AND WORLD ARE CALLED OUT IN ITS MISSION STATEMENT, A STUDENT-RATIFIED STATEMENT OF CULTURE, AS WELL AS ITS PUBLIC COMMITMENTS TO INCLUSIVITY AND DIVERSITY, ACCESS, AND THE PUBLIC GOOD. TO LEARN MORE ABOUT BELOIT, VISIT WWW.BELOIT.EDU/OUR-STORY/.
Describe the Organization's Program Activity:
ACADEMIC AND STUDENT PROGRAM: BELOIT COLLEGE, A LIBERAL ARTS COLLEGE FOUNDED ON THE WISCONSIN FRONTIER IN 1846, WAS BORN OUT OF A BELIEF THAT A PARTICULAR BRAND OF EDUCATION COULD ENERGIZE AND TRANSFORM LIVES, AND BY EXTENSION, THE WORLD. BELOIT CONTINUES TO BELIEVE THIS AND DELIVERS IT THROUGH A UNIQUE, INTEGRATED CURRICULUM THAT ENGAGES STUDENTS IN AN EXPLORATION OF IDEAS, COMPELS STUDENTS TO DEEPLY KNOW THEIR SUBJECTS, AND REQUIRES THEM TO DEMONSTRATE THAT THEY DO BY DEEPLY CONNECTING EDUCATION AND EXPERIENCE TO STUDENTS' FUTURE CAREERS AND LIVES. THAT FOCUS ON PROVIDING A RIGOROUS AND REWARDING EDUCATION AND PREPARATION HAS LONG SET THE COLLEGE AND ITS GRADUATES APART. HAILED AS ONE OF 40 "COLLEGES THAT CHANGE LIVES" BY FORMER NEW YORK TIMES EDUCATION EDITOR LOREN POPE, BELOIT OFFERS STUDENTS ACCESS TO MORE THAN 45 ACADEMIC PROGRAMS, MORE THAN 50 STUDENT CLUBS, 18 VARSITY SPORTS, AND COUNTLESS OTHER OPPORTUNITIES THAT RANGE FROM HANDS-ON FIELD AND INTERNSHIP EXPERIENCES BOTH LOCALLY AND GLOBALLY, TO COLLEGE-FUNDED STUDENT BUSINESS STARTUPS.DURING THE 2021-22 ACADEMIC YEAR, THE COLLEGE SERVED 1,011 STUDENTS, FROM 35 COUNTRIES, 45 STATES, AND THE DISTRICT OF COLUMBIA. THE COLLEGE OFFERED COURSES IN FALL, SPRING, AND SUMMER SESSIONS AND PROVIDED EDUCATIONAL SERVICES BOTH DOMESTICALLY AND THROUGH STUDY ABROAD PROGRAMS. THE COLLEGE GRADUATED 244 STUDENTS DURING THE YEAR, WHILE PROVIDING FINANCIAL ASSISTANCE TO 96 PERCENT OF DEGREE-SEEKING STUDENTS.ENROLLMENT AND DEVELOPMENT: DURING THE RECRUITMENT CYCLE FOR STUDENTS STARTING IN FALL 2021, THE COLLEGE RECEIVED 3,277 APPLICATIONS FROM FIRST-TIME, DEGREE-SEEKING STUDENTS. THE 290 STUDENTS WHO ENROLLED WILL GRADUATE AS THE CLASS OF 2025. THE COLLEGE CONTINUES TO RECEIVE RECOGNITION FROM EXTERNAL EVALUATORS AND PEERS ACROSS THE COUNTRY FOR THE QUALITY OF ITS UNDERGRADUATE TEACHING, CURRICULAR INNOVATIONS, ENTREPRENEURIAL AND STUDY ABROAD PROGRAMS, AND MORE. THESE REPUTATIONAL MEASURES, WHICH REFLECT THE COLLEGE'S INCREASING VISIBILITY, INCLUDE BEING NAMED THE #5 MOST INNOVATIVE SCHOOL BY U.S. NEWS & WORLD REPORT AND BEING ON THE NAMED LISTS FOR "BEST UNDERGRADUATE TEACHING," "FIRST YEAR EXPERIENCE TO LOOK FOR AND "MOST INTERNATIONAL STUDENTS." U.S. NEWS & WORLD REPORT RANKS BELOIT COLLEGE NATIONALLY AT #80 AMONG LIBERAL ARTS COLLEGES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr H Scott Bierman President | Officer | 40 | $378,135 |
Ms Amy Wilson Thru 6-30-22 VP Of Development & Alumni Relations | Officer | 40 | $184,635 |
Ms Leslie Davidson VP Of Enrollment Services | Officer | 40 | $179,716 |
Mr Eric Boynton Provost & Dean Of The College | Officer | 40 | $169,526 |
Ms Stacie T Scott Treas./vp Finance & Planning | Officer | 40 | $168,768 |
Mr Cecil Youngblood Dean Of Equity, Community & Student Success | Officer | 40 | $152,633 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
City Of Beloit Construction Services | 6/29/22 | $499,328 |
Tempus Labs Inc Covid-19 Testing Services | 6/29/22 | $349,469 |
Furman Bros Llc Maintenance Services | 6/29/22 | $327,500 |
Bon Appetit Management Co Food Service | 6/29/22 | $3,030,825 |
Waicu Etc Educational Services | 6/29/22 | $210,025 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $8,982,011 |
All other contributions, gifts, grants, and similar amounts not included above | $10,967,131 |
Noncash contributions included in lines 1a–1f | $1,790,195 |
Total Revenue from Contributions, Gifts, Grants & Similar | $19,949,142 |
Total Program Service Revenue | $57,573,567 |
Investment income | $1,187,254 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,145,451 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $86,166,985 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $30,777,263 |
Grants and other assistance to Foreign Orgs/Individuals | $5,914,765 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,784,691 |
Compensation of current officers, directors, key employees. | $842,668 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $16,094,345 |
Pension plan accruals and contributions | $874,839 |
Other employee benefits | $3,384,248 |
Payroll taxes | $1,314,733 |
Fees for services: Management | $208,673 |
Fees for services: Legal | $277,305 |
Fees for services: Accounting | $134,176 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $375,455 |
Fees for services: Other | $9,104,432 |
Advertising and promotion | $22,767 |
Office expenses | $1,429,948 |
Information technology | $305,141 |
Royalties | $2,097 |
Occupancy | $1,440,617 |
Travel | $1,150,419 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $193,878 |
Interest | $675,567 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,656,450 |
Insurance | $355,837 |
All other expenses | $0 |
Total functional expenses | $83,989,322 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $153,633 |
Savings and temporary cash investments | $9,455,221 |
Pledges and grants receivable | $5,458,861 |
Accounts receivable, net | $7,633,757 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $17,642,416 |
Inventories for sale or use | $10,201 |
Prepaid expenses and deferred charges | $743,711 |
Net Land, buildings, and equipment | $58,973,458 |
Investments—publicly traded securities | $78,504,064 |
Investments—other securities | $14,077,794 |
Investments—program-related | $16,300 |
Intangible assets | $0 |
Other assets | $17,717,075 |
Total assets | $210,386,491 |
Accounts payable and accrued expenses | $3,181,677 |
Grants payable | $0 |
Deferred revenue | $2,302,966 |
Tax-exempt bond liabilities | $2,493,897 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $6,250,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $18,611,112 |
Total liabilities | $32,839,652 |
Net assets without donor restrictions | $55,511,432 |
Net assets with donor restrictions | $122,035,407 |
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 | $210,386,491 |
Over the last fiscal year, we have identified 2 grants that Beloit College has recieved totaling $150,000.
Awarding Organization | Amount |
---|---|
Doctorbird Foundation Wilmington, DE PURPOSE: BELOIT CHANNEL INITIATIVE FUND | $100,000 |
Doctorbird Foundation Wilmington, DE PURPOSE: BELOIT CHANNEL INITIATIVE FUND | $50,000 |
Beg. Balance | $94,110,158 |
Earnings | -$6,749,881 |
Net Contributions | $1,417,071 |
Other Expense | $5,235,880 |
Ending Balance | $83,541,468 |
Organization Name | Assets | Revenue |
---|---|---|
Columbia College Chicago Chicago, IL | $667,072,943 | $221,332,415 |
St Olaf College Northfield, MN | $1,072,190,588 | $240,994,923 |
Carleton College Northfield, MN | $1,414,260,160 | $240,267,870 |
Trustees Of Grinnell College Grinnell, IA | $3,450,447,819 | $273,975,826 |
Macalester College St Paul, MN | $1,183,330,680 | $186,131,359 |
Hillsdale College Hillsdale, MI | $1,230,310,896 | $287,422,849 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
Wheaton College Wheaton, IL | $1,105,725,018 | $280,776,360 |
Gustavus Adolphus College Saint Peter, MN | $555,228,341 | $183,510,862 |
Hope College Holland, MI | $493,947,019 | $161,551,169 |
Augustana College Rock Island, IL | $426,442,517 | $147,587,977 |
Bethel University St Paul, MN | $210,773,506 | $136,689,038 |