Goldey Beacom College Inc
- Assets
- $221.9m
- Revenue
- $32.7m
- Investments
- $1.3m
- Employees
- 281
- Location
- Wilmington, DE
- Founding
- 04/1971
- Data as of
- 06/2022
- EIN
- 51-0109178
Organization Overview
Goldey Beacom College Inc is located in Wilmington, DE. The organization was established in 1971. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Goldey Beacom College Inc employed 281 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goldey Beacom College 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, Goldey Beacom College Inc generated $32.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $27.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. 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
TO CONFER THE ASSOCIATE, BACCALAUREATE AND GRADUATE DEGREES ON QUALIFIED STUDENTS.
Describe the Organization's Program Activity:
PROGRAMS OF STUDY-DAY AND EVENING ACADEMIC PROGRAMS WHICH PROVIDE TRAINING AND EDUCATION TO 550 FULL-TIME STUDENTS AND 741 PART-TIME STUDENTS. THE COLLEGE IMPLEMENTED A TUITION RESET STARTING IN THE FALL 2021 SEMESTER WHICH REDUCED THE GROSS TUITION CHARGES BY APPROXIMATELY 50% WHEN COMPARED TO THE PRIOR YEAR.
AUXILIARY ENTERPRISES - RESIDENCE HALLS, DINING SERVICE AND RELATED SUMMER PROGRAMS INCLUDING MODERN APARTMENTS LOCATED ADJACENT TO THE ACADEMIC BUILDING PROVIDING HOUSING FOR 255 STUDENTS DURING THE FALL SEMESTER AND 237 STUDENTS DURING THE SPRING SEMESTER. DINING SERVICE FACILITIES AND OTHER RELATED SERVICES AVAILABLE FOR STUDENTS AND SUMMER PROGRAM ATTENDEES. THE CAMPUS STORE SELLS SCHOOL SUPPLIES, COLLEGE APPAREL, AND SMALL MISCELLANEOUS ITEMS TO STUDENTS TO ASSIST IN PROVIDING A COLLEGIATE EXPERIENCE.
SERVICES PROVIDED TO STUDENTS FOR ACTIVITIES, ATHLETICS, AND FINANCIAL AID AND TO SUPPORT DEPARTMENTS OF THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Perry Keith President | OfficerTrustee | 40 | $372,241 |
Kristine Santomauro Executive Vice President | Officer | 40 | $326,803 |
Alison White Provost/vp For Academic Affairs | Officer | 40 | $203,895 |
Charles Hammond VP For Student Affairs And Athletics | Officer | 40 | $169,815 |
Susan Mannering Asst. VP Of Financial Svcs & Hr | 40 | $135,576 | |
Jane Lysle Former Dean Of Enrollment Management | 40 | $130,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Hvac Service Hvac Services | 6/29/22 | $356,290 |
Healthcare Services Group Cleaning Services | 6/29/22 | $409,969 |
Edis Company Construction Management Services | 6/29/22 | $2,221,549 |
Metz Culinary Management Dining Services | 6/29/22 | $974,761 |
Ps & L Marketing Services | 6/29/22 | $840,785 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,556,791 |
| All other contributions, gifts, grants, and similar amounts not included above | $946,736 |
| Noncash contributions included in lines 1a–1f | $31,050 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,503,527 |
| Total Program Service Revenue | $17,205,479 |
| Investment income | $5,500,185 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,509,953 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,125 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,727,269 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,613,445 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,314,519 |
| Compensation of current officers, directors, key employees. | $520,005 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,761,497 |
| Pension plan accruals and contributions | $368,630 |
| Other employee benefits | $713,724 |
| Payroll taxes | $569,827 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,210 |
| Fees for services: Accounting | $63,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $352,431 |
| Fees for services: Other | $1,280,780 |
| Advertising and promotion | $1,130,402 |
| Office expenses | $620,678 |
| Information technology | $831,969 |
| Royalties | $0 |
| Occupancy | $1,095,977 |
| Travel | $187,174 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $116,574 |
| Interest | $329,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,245,468 |
| Insurance | $213,190 |
| All other expenses | $250,330 |
| Total functional expenses | $27,004,539 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,089,858 |
| Savings and temporary cash investments | $32,183 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $976,169 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $28,701 |
| Inventories for sale or use | $23,847 |
| Prepaid expenses and deferred charges | $646,453 |
| Net Land, buildings, and equipment | $36,258,162 |
| Investments—publicly traded securities | $178,515,369 |
| Investments—other securities | $1,312,382 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,811 |
| Total assets | $221,938,935 |
| Accounts payable and accrued expenses | $64,656 |
| Grants payable | $0 |
| Deferred revenue | $767,813 |
| Tax-exempt bond liabilities | $19,199,340 |
| 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 | $0 |
| Other liabilities | $924,214 |
| Total liabilities | $20,956,023 |
| Net assets without donor restrictions | $178,468,371 |
| Net assets with donor restrictions | $22,514,541 |
| 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 | $221,938,935 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Goldey Beacom College Inc has recieved totaling $49,509.
| Awarding Organization | Amount |
|---|---|
A T & Mary H Blades Foundation Inc Preston, MD PURPOSE: $10,000 CURRENT SCHOLARSHIPS \ $25,000 ENDOWED SCHOLARSHIPS | $35,000 |
Central Atlantic Collegiate Conference Inc New Haven, CT PURPOSE: To promote athletics within schools. | $12,231 |
George E Gordy Family Educational Trust Fund Wilmington, DE PURPOSE: GENERAL PURPOSE | $2,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $150 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 02/03/21 | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $28 |
Endowment Analysis
| Beg. Balance | $194,950,785 |
| Earnings | -$24,625,094 |
| Net Contributions | $803,869 |
| Other Expense | $7,824,306 |
| Ending Balance | $163,305,254 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Point Park University Pittsburgh, PA | $213,510,842 | $122,379,566 |
Mount Saint Marys University Emmitsburg, MD | $202,133,149 | $126,243,509 |
Desales University Center Valley, PA | $267,808,643 | $127,653,675 |
University Of The Sciences In Philadelphia Philadelphia, PA | $394,161,147 | $107,500,197 |
Moravian University Bethlehem, PA | $317,733,693 | $123,053,733 |
Ursinus College Collegeville, PA | $337,795,514 | $116,678,933 |
Mc Daniel College Inc Westminster, MD | $217,534,229 | $113,872,650 |
Saint Peters University Jersey City, NJ | $164,476,054 | $118,523,321 |
University Of The Arts Philadelphia, PA | $189,935,840 | $110,070,964 |
Kings College Wilkesbarre, PA | $274,438,730 | $118,353,435 |
Marywood University Scranton, PA | $244,412,152 | $100,984,557 |
Saint Francis University Loretto, PA | $151,334,265 | $103,685,117 |