Bethany College
- Assets
- $39.6m
- Revenue
- $41.6m
- Investments
- $147.1k
- Employees
- 480
- Location
- Lindsborg, KS
- Founding
- 10/1942
- Data as of
- 06/2022
- EIN
- 48-0543734
Organization Overview
Bethany College is located in Lindsborg, KS. The organization was established in 1942. 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, Bethany College employed 480 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethany 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, Bethany College generated $41.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $33.9m during the year ending 06/2022. While expenses have increased by 4.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
A PRIVATE, FOUR-YEAR LIBERAL ARTS EDUCATIONAL INSTITUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND INSTRUCTION - BETHANY COLLEGE, ESTABLISHED BY SWEDISH LUTHERAN IMMIGRANTS IN 1881, IS A COLLEGE OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA (ECLA) LOCATED IN LINDSBORG, KANSAS. BETHANY IS A SMALL, PRIVATE FOUR-YEAR INSTITUTION WHICH PROVIDES EDUCATION IN OVER 42 ACADEMIC DISCIPLINE MAJORS AND PROGRAMS OF STUDY WHICH LEAD TO THREE DEGREES. THE COLLEGE PROVIDES APPROXIMATELY 700 STUDENTS WITH AN EDUCATIONAL OPPORTUNITY THAT EMPHASIZES THE MISSION, WHICH IS TO EDUCATE, DEVELOP, AND CHALLENGE INDIVIDUALS TO REACH FOR TRUTH AND EXCELLENCE AS THEY LEAD LIVES OF FAITH, LEARNING, AND SERVICE.
STUDENT SERVICES - THE MISSION OF THE OFFICE OF STUDENT DEVELOPMENT IS TO FOSTER THE DEVELOPMENT OF THE WHOLE PERSON - MIND, BODY, AND SPIRIT - ACCORDING TO THE RUBRIC EXPRESSED IN THE MISSION AND VALUES OF THE COLLEGE. THIS IS ACCOMPLISHED BY PROVIDING CARE, DIRECTION, ACTIVITY, AND EDUCATION IN ALL AREAS OF THE STUDENTS' LIVES OUTSIDE THE CLASSROOM.
AUXILIARY ENTERPRISES - AUXILIARY OPERATIONS OF THE COLLEGE PROVIDE ON-CAMPUS HOUSING, FOOD SERVICE, AND THE SWEDE NATION STATION BOOKSTORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roper Degarmo Board Chair | OfficerTrustee | 1 | $0 |
Dr Cheryl Rasmussen Vice Chair | OfficerTrustee | 1 | $0 |
Connie Hubbell Secretary | OfficerTrustee | 1 | $0 |
Becky Anderson Director | Trustee | 1 | $0 |
Dr Jon Bredeson Director | Trustee | 1 | $0 |
Susan Concannon Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiens & Co Construction Construction | 6/29/22 | $3,251,577 |
Sodexo Inc & Affiliates Food Services | 6/29/22 | $1,545,722 |
A Book Company Llc (Dba Ecampuscom) Textbook Provider | 6/29/22 | $547,830 |
Jones Gillam Renz Architects Architects | 6/29/22 | $358,823 |
Martin Roofing Contractor | 6/29/22 | $330,778 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $379,033 |
| Government grants | $3,582,772 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,478,137 |
| Noncash contributions included in lines 1a–1f | $2,430,856 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,439,942 |
| Total Program Service Revenue | $27,041,887 |
| Investment income | $102,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,252 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,980 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,586,610 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,480,572 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $700,228 |
| Compensation of current officers, directors, key employees. | $579,890 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,554,916 |
| Pension plan accruals and contributions | $326,666 |
| Other employee benefits | $690,353 |
| Payroll taxes | $488,577 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,684 |
| Fees for services: Accounting | $135,481 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,424,479 |
| Advertising and promotion | $57,676 |
| Office expenses | $243,842 |
| Information technology | $312,751 |
| Royalties | $0 |
| Occupancy | $909,362 |
| Travel | $388,638 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $698,209 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,590,888 |
| Insurance | $822,469 |
| All other expenses | $332,481 |
| Total functional expenses | $33,908,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,119,340 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,165,890 |
| Accounts receivable, net | $1,221,460 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,842 |
| Prepaid expenses and deferred charges | $81,942 |
| Net Land, buildings, and equipment | $32,046,514 |
| Investments—publicly traded securities | $1,001,797 |
| Investments—other securities | $147,052 |
| Investments—program-related | $795,039 |
| Intangible assets | $0 |
| Other assets | $36,551 |
| Total assets | $39,648,427 |
| Accounts payable and accrued expenses | $1,645,143 |
| Grants payable | $0 |
| Deferred revenue | $829,722 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $20,268,727 |
| Other liabilities | $19,594,687 |
| Total liabilities | $42,338,279 |
| Net assets without donor restrictions | -$3,797,373 |
| Net assets with donor restrictions | $1,107,521 |
| 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 | $39,648,427 |