Bethany College
- Assets
- $103.9m
- Revenue
- $39.1m
- Investments
- $30.9m
- Employees
- 453
- Location
- Bethany, WV
- Founding
- 11/1947
- Data as of
- 06/2022
- EIN
- 55-0356985
Organization Overview
Bethany College is located in Bethany, WV. The organization was established in 1947. 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, Bethany College employed 453 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethany 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, Bethany College generated $39.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $38.8m during the year ending 06/2022. While expenses have increased by 0.9% 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
TEACHING AND LEARNING FORM THE MISSION OF BETHANY COLLEGE.
Describe the Organization's Program Activity:
INSTRUCTION - THE COLLEGE PROVIDES EDUCATIONAL SERVICES AND INSTRUCTIO TO FULL AND PART TIME STUDENTS SEEKING A COLLEGE EDUCATION AND/OR DEGREE. SCHOLARSHIPS & FELLOWSHIPS - THE COLLEGE PROVIDES FINANCIAL ASSISTANCE TO STUDENTS EITHER BASED ON THEIR NEED OR ACADEMIC MERIT.
ACADEMIC SUPPORT AND OTHER STUDENT SERVICES RELATED PROGRAMS - SUPPORT ACTIVITIES THROUGH THE DEANS OF VARIOUS DIVISIONS, THE LIBRARY, AND AUDIO VISUAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George M Bado Board Chairman | OfficerTrustee | 5 | $0 |
Jeff Woda Board Vice Chairman | OfficerTrustee | 5 | $0 |
Douglas Goin Treasurer (until 01/2022) | OfficerTrustee | 3 | $0 |
Carmina Hughes Secretary | OfficerTrustee | 1 | $0 |
Dr Tamara Nichols Rodenberg President | OfficerTrustee | 55 | $435,310 |
Craig Williams Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
He Neumann Co Hvac Repair & Maintenance | 6/29/22 | $433,521 |
Eat'n Park Hospitality Group Inc Dining Services | 6/29/22 | $2,631,552 |
Eab Global Inc Student Search | 6/29/22 | $424,468 |
Follett Higher Education Group Textbook Rental Program | 6/29/22 | $237,012 |
Independent College Enterprise Information Technology | 6/29/22 | $228,026 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,438,409 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,014,566 |
| Noncash contributions included in lines 1a–1f | $12,090 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,452,975 |
| Total Program Service Revenue | $23,145,497 |
| Investment income | $691,851 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,610,856 |
| Net Rental Income | $741 |
| Net Gain/Loss on Asset Sales | $1,205,256 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,107,176 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,389,228 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $723,640 |
| Compensation of current officers, directors, key employees. | $507,952 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,182,481 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,591,504 |
| Payroll taxes | $603,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,018 |
| Fees for services: Accounting | $109,363 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $136,676 |
| Fees for services: Other | $1,436,543 |
| Advertising and promotion | $152,039 |
| Office expenses | $532,314 |
| Information technology | $62,830 |
| Royalties | $0 |
| Occupancy | $1,874,258 |
| Travel | $439,061 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,336,043 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,595,385 |
| Insurance | $575,325 |
| All other expenses | $978,613 |
| Total functional expenses | $38,791,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,420,610 |
| Pledges and grants receivable | $2,390,458 |
| Accounts receivable, net | $1,224,393 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,108,385 |
| Inventories for sale or use | $19,908 |
| Prepaid expenses and deferred charges | $265,791 |
| Net Land, buildings, and equipment | $31,378,362 |
| Investments—publicly traded securities | $27,852,397 |
| Investments—other securities | $30,891,800 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,342,733 |
| Total assets | $103,894,837 |
| Accounts payable and accrued expenses | $3,466,796 |
| Grants payable | $3,233,089 |
| Deferred revenue | $385,155 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $40,181,902 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,915,257 |
| Total liabilities | $50,182,199 |
| Net assets without donor restrictions | -$870,746 |
| Net assets with donor restrictions | $54,583,384 |
| 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 | $103,894,837 |