Goldey Beacom College Inc
- Assets
- $221.9m
- Revenue
- $32.7m
- Investments
- $1.3m
- Employees
- 322
- 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 06/2023, Goldey Beacom College Inc employed 322 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
990
Mission & Program ActivityExcerpts From the 990 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:
Part 3 - Line 4a
PROGRAMS OF STUDY-DAY AND EVENING ACADEMIC PROGRAMS WHICH PROVIDE TRAINING AND EDUCATION TO 354 FULL-TIME STUDENTS AND 848 PART-TIME STUDENTS.
AUXILIARY ENTERPRISES - RESIDENCE HALLS, DINING SERVICE AND RELATED SUMMER PROGRAMS INCLUDING MODERN APARTMENTS LOCATED ADJACENT TO THE ACADEMIC BUILDING PROVIDING HOUSING FOR 245 STUDENTS DURING THE FALL SEMESTER AND 228 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 | $460,651 |
Javed Gilani Trustee | Trustee | 2 | $0 |
E Thomas Harvey III Trustee | Trustee | 2 | $0 |
Joan Verbonitz Panik Trustee | Trustee | 2 | $0 |
R Jeffrey Johnson Board Secretary/treasurer | OfficerTrustee | 2 | $0 |
John J Patterson III Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Metz Culinary Management Dining Services | 6/29/23 | $1,201,964 |
Paskill Marketing Services | 6/29/23 | $820,906 |
National Hvac Service Hvac Services | 6/29/23 | $439,984 |
Allied Universal Security Services Security Services | 6/29/23 | $278,658 |
Jenzabar Computing Services | 6/29/23 | $309,473 |
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 |