Bridgewater College
- Assets
- $218.0m
- Revenue
- $86.6m
- Investments
- $0.0
- Employees
- 864
- Location
- Bridgewater, VA
- Founding
- 04/1939
- Data as of
- 06/2022
- EIN
- 54-0506306
Organization Overview
Bridgewater College is located in Bridgewater, VA. The organization was established in 1939. 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, Bridgewater College employed 864 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater 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, Bridgewater College generated $86.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $90.9m during the year ending 06/2022. While expenses have increased by 1.7% 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
BRIDGEWATER COLLEGE IS A PRIVATE, COEDUCATIONAL, RESIDENTIAL, LIBERAL ARTS COLLEGE OF APPROXIMATELY 1450 STUDENTS
Describe the Organization's Program Activity:
LOCATED ONLY TWO HOURS SOUTHWEST OF THE WASHINGTON, D.C., METRO AREA, BRIDGEWATER COLLEGE HAS A TOTAL ENROLLMENT OF APPROXIMATELY 1,450 STUDENTS AND OFFERS BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES IN MORE THAN 60 MAJORS AND MINORS, ALONG WITH PRE-PROFESSIONAL PROGRAMS SUCH AS MEDICINE AND LAW AND TEACHER LICENSURE. THE COLLEGE ALSO OFFERS MASTERS DEGREE PROGRAMS IN ATHLETIC TRAINING, DIGITAL MEDIA STRATEGY, PSYCHOLOGY, AND HUMAN RESOURCE MANAGEMENT. GROUNDED IN LIBERAL ARTS, STUDENTS AT BRIDGEWATER COLLEGE LEARN ABOUT A VARIETY OF DISCIPLINES, ENABLING THEM TO BECOME ARTICULATE, ANALYTICAL AND ASSERTIVE. THEY ARE CHALLENGED BY RIGOROUS ACADEMICS IN A CLOSE-KNIT COMMUNITY AND COLLABORATE WITH FACULTY TO CREATE PERSONALIZED AND UNIQUE LEARNING EXPERIENCES.
ACADEMIC SUPPORT AREAS AT BRIDGEWATER COLLEGE INCLUDE THE ACADEMIC ADVISING CENTER, FORRER LEARNING COMMONS, THE WRITING CENTER, THE INFORMATION TECHNOLOGY CENTER, THE OFFICE OF CAREER SERVICES AND THE ACADEMIC SUPPORT CENTER. REVENUES OF $4,706 ARE FOR BOOK COMMISSIONS FROM AN OUTSOURCED ONLINE TEXTBOOK STORE, WHOSE OPERATIONS ARE OTHERWISE DIVORCED FROM BRIDGEWATER COLLEGE'S FINANCIAL STATEMENTS.
THE RESIDENTIAL CAMPUS IS LOCATED IN THE BEAUTIFUL SHENANDOAH VALLEY OF VIRGINIA. ON-CAMPUS HOUSING FEATURES SEVEN DORMITORIES, SHARED HOUSES KNOWN AS THE COTTAGES, APARTMENT-STYLE LIVING IN THE WAMPLER TOWERS, AND THE STONE VILLAGE HOUSING COMMUNITY. DINING OPTIONS INCLUDE THE MAIN DINING HALL IN THE KLINE CAMPUS CENTER AND SMITTY'S CAFE IN THE FORRER LEARNING COMMONS.
WITH MORE THAN 80 SOCIAL, CULTURAL, RELIGIOUS, AND ACADEMIC CLUBS AND ORGANIZATIONS, THERE'S ALWAYS SOMETHING HAPPENING ON CAMPUS. NEARLY A THIRD OF THE STUDENT BODY PARTICIPATES IN ONE OF THE 23 INTERCOLLEGIATE SPORTS BRIDGEWATER OFFERS AT THE NCAA DIVISION III LEVEL. STUDENTS ALSO HAVE THE OPPORTUNITY TO BENEFIT FROM THE BRIDGEWATER COLLEGE EQUESTRIAN CENTER IN WEYERS CAVE, VA., FOR RIDING LESSONS AND THE EQUESTRIAN TEAM; FITNESS OPPORTUNITIES THROUGH THE FUNKHOUSER CENTER FOR HEALTH AND WELLNESS; AN ARRAY OF INTRAMURAL SPORTS AND AN OUTDOOR PROGRAM; MUSICAL ENSEMBLES SUCH AS THE CONCERT CHOIR, CHORALE, SYMPHONIC BAND AND JAZZ ENSEMBLE; AND A RENOWNED ENDOWED LECTURE, LYCEUM AND CONVOCATION SERIES, WHICH BRINGS SPEAKERS AND ARTISTS FROM ACROSS THE COUNTRY TO THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Cory Adamson Trustee | Trustee | 0.5 | $0 |
Andrew B Agee Trustee | Trustee | 0.5 | $0 |
J Russell Bruner Trustee | Trustee | 0.5 | $0 |
D Bruce Christian Chairman | OfficerTrustee | 0.5 | $0 |
Mensel D Dean Jr Trustee | Trustee | 0.5 | $0 |
Michael D Del Giudice Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parkhurst Dining Services Dining Services And Catering | 6/29/22 | $3,351,421 |
Abm Janitorial Service Contractor | 6/29/22 | $1,132,964 |
Whiteboard Communications Enrollment Consultant | 6/29/22 | $280,650 |
A Goff Limousine And Bus Company Bus Charter Services | 6/29/22 | $167,806 |
Wam Holdings Llc Hvac Installation And Repair | 6/29/22 | $166,741 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,846,122 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,914,453 |
| Noncash contributions included in lines 1a–1f | $1,353,506 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,760,575 |
| Total Program Service Revenue | $69,438,898 |
| Investment income | -$127,283 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $49,105 |
| Net Gain/Loss on Asset Sales | $2,909,829 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,620,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $38,804,065 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,375,113 |
| Compensation of current officers, directors, key employees. | $600,645 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,680,495 |
| Pension plan accruals and contributions | $422,756 |
| Other employee benefits | $2,541,196 |
| Payroll taxes | $1,407,879 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $133,314 |
| Fees for services: Accounting | $62,897 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $756,778 |
| Fees for services: Other | $0 |
| Advertising and promotion | $380,447 |
| Office expenses | $1,357,753 |
| Information technology | $1,620,951 |
| Royalties | $0 |
| Occupancy | $3,675,902 |
| Travel | $761,393 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,782,377 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,254,879 |
| Insurance | $444,237 |
| All other expenses | $729,512 |
| Total functional expenses | $90,872,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,158,605 |
| Savings and temporary cash investments | $13,224,247 |
| Pledges and grants receivable | $5,023,948 |
| Accounts receivable, net | $377,577 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,381,036 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $79,095,448 |
| Investments—publicly traded securities | $103,865,097 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,825,695 |
| Total assets | $217,951,653 |
| Accounts payable and accrued expenses | $3,221,308 |
| Grants payable | $0 |
| Deferred revenue | $1,581,081 |
| Tax-exempt bond liabilities | $3,004,642 |
| 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 | $51,150,350 |
| Other liabilities | $3,899,248 |
| Total liabilities | $62,856,629 |
| Net assets without donor restrictions | $45,382,389 |
| Net assets with donor restrictions | $109,712,635 |
| 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 | $217,951,653 |