Sweet Briar Institute
- Assets
- $151.7m
- Revenue
- $33.1m
- Investments
- $6.5m
- Employees
- 520
- 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 06/2021, Sweet Briar Institute employed 520 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 6 years the organization has increased revenue by an average of 1.7% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
INSTRUCTION: TO PROVIDE A LIBERAL ARTS EDUCATION FOR ALL STUDENTS. BENEFITS APPROXIMATELY 375 STUDENTS.
AUXILIARY ENTERPRISES: TO PROVIDE STUDENTS WITH HOUSING, FOOD SERVICES, RECREATION AND INSTRUCTIONAL MATERIALS. BENEFITS APPROXIMATELY 375 STUDENTS.
SCHOLARSHIPS: TO PROVIDE SCHOLARSHIPS TO STUDENTS WITH BOTH FINANCIAL NEED AS WELL AS ACADEMIC EXCELLENCE. BENEFITS APPROXIMATELY 375 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Meredith Woo President | OfficerTrustee | 40 | $339,542 |
Mary Pope Hutson VP Alumnae Relations & Develop | Officer | 40 | $208,436 |
Luther Griffith VP Finance, Operations & Aux | Officer | 40 | $183,955 |
Aaron Basko VP Enrollment | 40 | $143,059 | |
Laurel Harvey Director Strategic Initiatives | 40 | $131,820 | |
Teresa Garrett VP Academic Affairs And Dean | Officer | 40 | $129,922 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Campbell Insurance Insurance | 6/29/21 | $417,995 |
Lipman Hearne Inc Marketing | 6/29/21 | $352,594 |
Shrader Goad Legal | 6/29/21 | $442,660 |
Meriwether-godsey Food Services | 6/29/21 | $1,271,229 |
Marist College Outsourced Tech. | 6/29/21 | $319,434 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,722,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,507,008 |
| Noncash contributions included in lines 1a–1f | $2,440,559 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,229,858 |
| Total Program Service Revenue | $13,219,206 |
| 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 organizations and domestic governments. | $0 |
| 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 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 | $182,001 |
| 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 |
| Net Land, buildings, and equipment | $55,379,603 |
| 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 | $39,294,086 |
| Net assets with donor restrictions | $97,581,754 |
| 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 | $151,661,392 |
Grants Recieved
Over the last fiscal year, we have identified 28 grants that Sweet Briar Institute has recieved totaling $3,570,931.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $2,215,447 |
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN PURPOSE: UNRESTRICTED | $500,000 |
Luke 6 38 Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $500,000 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $94,700 |
The Pauley Family Foundation Richmond, VA PURPOSE: ANNUAL SUPPORT | $50,000 |
Katherine U & Ronald W Takvorian Charitable Foundation Boston, MA PURPOSE: PROGRAM SUPPORT | $32,500 |
Endowment Analysis
| Beg. Balance | $63,967,642 |
| Earnings | $16,716,040 |
| Net Contributions | $789,706 |
| Other Expense | $2,024,172 |
| Grants | $975,828 |
| Ending Balance | $78,473,388 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Washington College Chestertown, MD | $509,587,236 | $93,610,957 |
Hampden-Sydney College Hampdensydney, VA | $332,900,116 | $118,845,969 |