College Of St Benedict Business Off
- Assets
- $252.0m
- Revenue
- $110.0m
- Investments
- $50.7m
- Employees
- 2,001
- Location
- Saint Joseph, MN
- Founding
- 03/1946
- Data as of
- 06/2020
- EIN
- 41-0969244
Organization Overview
College Of St Benedict Business Off is located in Saint Joseph, MN. The organization was established in 1946. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, College Of St Benedict Business Off employed 2,001 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. College Of St Benedict Business Off 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 06/2020, College Of St Benedict Business Off generated $110.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $108.6m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOR WOMEN THE BEST RESIDENTIAL LIBERAL ARTS EDUCATION IN THE CATHOLIC BENEDICTINE TRADITIONS. SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION: EDUCATIONAL INSTRUCTION, 1,657 FALL FTE STUDENTS ENROLLED IN UNDERGRADUATE COURSES, 456 GRADUATES. THE COLLEGE OF SAINT BENEDICT WILL BE NATIONALLY RECOGNIZED AS A COMMUNITY THAT PROVIDES A LIBERAL ARTS EDUCATION PREPARING WOMEN TO THINK CRITICALLY, LEAD COURAGEOUSLY, AND ADVOCATE PASSIONATELY. THE COLLEGE OF SAINT BENEDICT DESIGNS PROGRAMS TO MEET THE NEEDS AND ASPIRATIONS OF YOUNG WOMEN, EMPHASIZING WOMEN'S LEADERSHIP AND A PERSONAL DEVELOPMENT PROFILE THAT INCLUDES INTELLECTUAL, SPIRITUAL, EMOTIONAL AND PHYSICAL DEVELOPMENT. ITS VALUES-BASED AND VALUE-ADDED RESIDENTIAL LIBERAL ARTS EDUCATION PROVIDES THE FRAMEWORK FOR FULFILLING LIVES OF DISCIPLINED INQUIRY AND LEADERSHIP IN CAREERS DEVOTED TO THE PROFESSIONS, PUBLIC LIFE AND SERVICE TO OTHERS. ACADEMIC ACTIVITY OUTSIDE OF THE CLASSROOM WAS LIMITED DUE TO COVID-19. COLLEGE OF SAINT BENEDICT DID NOT CONDUCT ANY STUDY ABROAD PROGRAMS AND ANY OTHER TRAVEL OR VISITOR RELATED ACTIVITY WAS EITHER LIMITED OR CANCELLED.
HIGHER EDUCATION: AUXILIARY REVENUE (DINING, HOUSING, ETC) 1,657 STUDENTS. THE RESIDENTIAL LIFE PROGRAM AT THE COLLEGE OF SAINT BENEDICT PROVIDES A FOUR YEAR RESIDENTIAL EXPERIENCE OF COMMUNITY LIVING WHICH SUPPORTS AND CHALLENGES OUR STUDENTS WITH OPPORTUNITIES FOR PERSONAL AND SOCIAL GROWTH. THIS EXPERIENCE ALLOWS WOMEN TO DEVELOP AN UNDERSTANDING AND APPRECIATION OF THEIR RESPONSIBILITIES TO THEMSELVES AND OTHERS LIVING IN THE COMMUNITY ON CAMPUS AND BEYOND.
OTHER PROGRAM SERVICES: FINE ARTS PROGRAMMING AND OTHER STUDENT AND COMMUNITY SERVICES DESIGNED TO FOSTER DEVELOPMENT AND GROWTH OUTSIDE THE CLASSROOM. OUR FINE ARTS EVENTS BRING THE FINEST REGIONAL AND NATIONAL ARTISTS TO OUR COMMUNITY. OTHER PROGRAMS INCLUDING SERVICE TRIPS, CONFERENCES, AND CAMPUS EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Hinton Former President | 0 | $696,803 | |
Susan Palmer VP Finance And Administration | Officer | 50 | $259,235 |
Kathleen Hansen VP Institutional Advancement | Officer | 50 | $202,943 |
Nathan Dehne VP Enrollment | Officer | 50 | $180,583 |
Laurie Hamen Interim President | OfficerTrustee | 60 | $162,893 |
Mary Geller VP Student Activities | 50 | $148,598 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ellucian Company Lp Information Tech | 6/29/21 | $281,956 |
Meketa Fiduciary Mgmt Investment Services | 6/29/21 | $276,270 |
Epa Audio Visual Audio Visual Tech | 6/29/21 | $313,612 |
Minitex Library Services | 6/29/21 | $300,671 |
Mcdermott Will Emery Llp Legal Service | 6/29/21 | $747,753 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,465,715 |
| Investment income | $1,009,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,246,113 |
| Net Income from Fundraising Events | -$7,695 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $480,130 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $110,041,062 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $44,801,297 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,384,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,843,242 |
| Pension plan accruals and contributions | $1,927,190 |
| Other employee benefits | $5,974,710 |
| Payroll taxes | $1,853,967 |
| Fees for services: Management | $654,617 |
| Fees for services: Legal | $1,673,759 |
| Fees for services: Accounting | $75,200 |
| Fees for services: Lobbying | $96,783 |
| Fees for services: Fundraising | $129,532 |
| Fees for services: Investment Management | $284,512 |
| Fees for services: Other | $0 |
| Advertising and promotion | $276,402 |
| Office expenses | $809,812 |
| Information technology | $916,309 |
| Royalties | $0 |
| Occupancy | $4,063,965 |
| Travel | $1,222,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $210,019 |
| Interest | $335,704 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,666,626 |
| Insurance | $355,469 |
| All other expenses | $0 |
| Total functional expenses | $108,605,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,733,408 |
| Pledges and grants receivable | $7,817,281 |
| Accounts receivable, net | $387,446 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,328,688 |
| Inventories for sale or use | $344,647 |
| Prepaid expenses and deferred charges | $879,326 |
| Investments—publicly traded securities | $44,661,168 |
| Investments—other securities | $50,746,261 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,724,575 |
| Total assets | $251,991,111 |
| Accounts payable and accrued expenses | $5,560,679 |
| Grants payable | $0 |
| Deferred revenue | $3,118,320 |
| Tax-exempt bond liabilities | $43,352,867 |
| Escrow or custodial account liability | $397,233 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $124,126 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,163,254 |
| Total liabilities | $59,716,479 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $192,274,632 |
Grants Awarded
Over the last fiscal year, College Of St Benedict Business Off has awarded $28,575 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF ST JOSEPH MN PURPOSE: SUPPORT CITY FIRE SERVICES | $20,000 |
St Cloud, MN PURPOSE: COMMUNITY DEVELOPMENT | $8,575 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that College Of St Benedict Business Off has recieved totaling $1,016,218.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $307,500 |
Communitygiving St Cloud, MN PURPOSE: GEN/OPER SUPPORT | $152,788 |
Strada Education Network Inc Indianapolis, IN PURPOSE: OPERATING GRANT AND OPERATING SUPPORT | $134,500 |
Catholic Community Foundation Of Minnesota St Paul, MN PURPOSE: CAMPAIGN GIFT. GENERAL OPERATING. PROGRAM SUPPORT, SCHOLARSHIP FUND | $75,250 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $53,400 |
Mcknight Foundation Minneapolis, MN PURPOSE: TO CHANGE NARRATIVES ON NATIVE INEQUITIES, NURTURE NATIVE LEADERSHIP, AND BUILD NATIVE AND NON-NATIVE RELATIONSHIPS BY INVESTIGATING AND DISSEMINATING RESEARCH ON IMPACTS OF ASSIMILATION AT A NATIVE AMERICAN BOARDING SCHOOL | $50,000 |
Endowment Analysis
| Beg. Balance | $86,715,330 |
| Earnings | $23,417,921 |
| Admin Expense | $329,457 |
| Net Contributions | $4,761,625 |
| Other Expense | $1,225,559 |
| Grants | $2,243,381 |
| Ending Balance | $111,096,479 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
Gustavus Adolphus College Saint Peter, MN | $555,228,341 | $183,510,862 |
Bethel University St Paul, MN | $210,773,506 | $136,689,038 |
Carroll University Inc Waukesha, WI | $261,882,162 | $140,965,442 |
Augsburg University Minneapolis, MN | $220,780,212 | $133,913,998 |
Concordia College Corporation Moorhead, MN | $403,850,675 | $127,833,637 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
College Of St Scholastica Inc Duluth, MN | $228,173,776 | $117,585,202 |