Sweet Briar Institute
- Assets
- $151.7m
- Revenue
- $33.1m
- Investments
- $6.5m
- Employees
- 542
- Location
- Sweet Briar, VA
- Founding
- 10/1972
- Data as of
- 06/2021
- EIN
- 54-0534105
Organization Overview
Sweet Briar Institute is located in Sweet Briar, VA. The organization was established in 1972. 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, Sweet Briar Institute employed 542 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sweet Briar Institute 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 06/2021, Sweet Briar Institute generated $33.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $32.8m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION: TO PROVIDE A LIBERAL ARTS EDUCATION FOR ALL STUDENTS. BENEFITS APPROXIMATELY 440 STUDENTS.
AUXILIARY ENTERPRISES: TO PROVIDE STUDENTS WITH HOUSING, FOOD SERVICES, RECREATION AND INSTRUCTIONAL MATERIALS. BENEFITS APPROXIMATELY 440 STUDENTS.
SCHOLARSHIPS: TO PROVIDE SCHOLARSHIPS TO STUDENTS WITH BOTH FINANCIAL NEED AS WELL AS ACADEMIC EXCELLENCE. BENEFITS APPROXIMATELY 440 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Meredith Woo President | OfficerTrustee | 40 | $381,569 |
Mary Pope Hutson SVP Alumnae Relations&develop | Officer | 40 | $229,160 |
Luther Griffith VP Finance, Operations & Aux | Officer | 40 | $200,291 |
Aaron Basko VP Enrollment Mgmt | 40 | $165,934 | |
Teresa Garrett VP Academic Affairs And Dean | Officer | 40 | $135,923 |
Jennifer Sauer Avp & Controller | 40 | $146,461 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meriwether-godsey Food Services | 6/29/22 | $1,765,995 |
Campbell Insurance Insurance | 6/29/22 | $437,102 |
Marist College Outsourced Tech. | 6/29/22 | $221,118 |
Encoura Llc Enrollment Consult. | 6/29/22 | $168,785 |
Healthworks Clinic Llc Health Services | 6/29/22 | $160,173 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,229,858 |
| Investment income | $570,806 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $920,127 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,062,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $3,925,883 |
| Grants and other assistance to Foreign Orgs/Individuals | $753,663 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,930,389 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,862,346 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,195,873 |
| Advertising and promotion | $485,199 |
| Office expenses | $472,667 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,476,474 |
| Travel | $351,762 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $841,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,518,353 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $32,765,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,853,368 |
| Pledges and grants receivable | $9,067,596 |
| Accounts receivable, net | $684,163 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,230,452 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $60,592,950 |
| Investments—other securities | $6,534,872 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,318,388 |
| Total assets | $151,661,392 |
| Accounts payable and accrued expenses | $2,529,343 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,253,414 |
| 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 | $1,002,795 |
| Total liabilities | $14,785,552 |
| 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 | $136,875,840 |