Belmont Abbey College
- Assets
- $38.8m
- Revenue
- $47.7m
- Investments
- $132.4k
- Employees
- 583
- Location
- Belmont, NC
- Founding
- 02/1978
- Data as of
- 05/2022
- EIN
- 56-0547498
Organization Overview
Belmont Abbey College is located in Belmont, NC. The organization was established in 1978. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2022, Belmont Abbey College employed 583 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Belmont Abbey 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 05/2022, Belmont Abbey College generated $47.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $50.3m during the year ending 05/2022. While expenses have increased by 6.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BELMONT ABBEY COLLEGE OFFERS BACCALAUREATE LEVEL EDUCATION IN HUMANITIES, NATURAL SCIENCES, SOCIAL SCIENCES, AND PROFESSIONAL STUDIES AND MASTERS LEVEL EDUCATION IN HEALTHCARE ADMINISTRATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - BELMONT ABBEY COLLEGE PROVIDES EDUCATION FOR STUDENTS IN THE LIBERAL ARTS AND SCIENCES SO THAT IN ALL THINGS, GOD MAY BE GLORIFIED. IN THIS ENDEAVOR, THE COLLEGE IS GUIDED BY THE CATHOLIC INTELLECTUAL TRADITION AND THE BENEDICTINE SPIRIT OF PRAYER AND LEARNING. EXEMPLIFYING BENEDICTINE HOSPITALITY, THE COLLEGE WELCOMES A DIVERSE BODY OF STUDENTS AND PROVIDES THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO LEAD LIVES OF INTEGRITY, TO SUCEED PROFESSIONALLY, TO BECOME RESPONSIBLE CITIZENS, AND TO BE A BLESSING TO THEMSELVES AND TO OTHERS. DURING THE 2021-2022 ACADEMIC YEAR THE COLLEGE ENROLLED APPROXIMATELY 1,696 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr William Thierfelder President | Officer | 60 | $387,055 |
Mr Phillip Brach Vice President College Rel | Officer | 60 | $226,704 |
Mr Allan Mark Executive Vice President | Officer | 60 | $200,824 |
Dr Travis Feezell Provost | Officer | 60 | $193,924 |
Mr Stephen Miss Vice President And Athleti | Officer | 60 | $154,725 |
Augusta Gladd Senior Associate Vice President Strategic Giving | 50 | $150,525 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fairfield Inn & Suites Charlotte Belmont Housing | 5/30/22 | $443,512 |
Blacktie Transortation Bus Charters Inc Transportation Service | 5/30/22 | $380,153 |
Chartwells Dining Services Food Services | 5/30/22 | $2,545,653 |
Ssc Service Solutions Maintenance/janitorial | 5/30/22 | $1,781,745 |
Ellucian Company Lp Computer/network Services | 5/30/22 | $1,319,132 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,087,602 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,120,396 |
| Noncash contributions included in lines 1a–1f | $894,844 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,207,998 |
| Total Program Service Revenue | $34,185,636 |
| Investment income | $535,463 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$381,374 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $50,326 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,661,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,637,094 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,369,443 |
| Compensation of current officers, directors, key employees. | $751,389 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,173,762 |
| Pension plan accruals and contributions | $491,916 |
| Other employee benefits | $1,939,470 |
| Payroll taxes | $1,080,694 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $128,136 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,891 |
| Fees for services: Other | $1,860,572 |
| Advertising and promotion | $677,934 |
| Office expenses | $536,807 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $978,628 |
| Travel | $1,283,613 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,125 |
| Interest | $511,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,391,284 |
| Insurance | $699,602 |
| All other expenses | $1,803,946 |
| Total functional expenses | $50,273,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $498,686 |
| Savings and temporary cash investments | $466,863 |
| Pledges and grants receivable | $1,036,321 |
| Accounts receivable, net | $647,855 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $62,974 |
| Prepaid expenses and deferred charges | $464,009 |
| Net Land, buildings, and equipment | $23,192,735 |
| Investments—publicly traded securities | $9,997,786 |
| Investments—other securities | $132,399 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,299,006 |
| Total assets | $38,798,634 |
| Accounts payable and accrued expenses | $3,202,984 |
| Grants payable | $0 |
| Deferred revenue | $2,119,620 |
| 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 | $14,505,570 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,586,108 |
| Total liabilities | $21,414,282 |
| Net assets without donor restrictions | -$2,385,910 |
| Net assets with donor restrictions | $19,770,262 |
| 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 | $38,798,634 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Belmont Abbey College has recieved totaling $1,265,896.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $250,500 |
Frank E Murphy Charitable Foundation Wadsworth, OH PURPOSE: TAX-EXEMPT PURPOSES | $250,000 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $200,000 |
Dickson Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $200,000 |
Sarah H Sutherland Charitable Tr Uw Orlando, FL PURPOSE: CHARITABLE | $87,631 |
Gaston Community Foundation Gastonia, NC PURPOSE: GENERAL SUPPORT | $69,700 |
Endowment Analysis
| Beg. Balance | $13,983,549 |
| Earnings | -$1,262,849 |
| Net Contributions | $497,079 |
| Other Expense | $500,000 |
| Grants | $521,978 |
| Ending Balance | $12,195,801 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Lynchburg Lynchburg, VA | $240,911,893 | $116,895,847 |
Charleston Southern University Charleston, SC | $197,723,286 | $118,040,499 |
Marymount University Arlington, VA | $272,414,108 | $118,614,940 |
Gardner-Webb University Boiling Springs, NC | $163,499,840 | $100,956,877 |
Meredith College Raleigh, NC | $208,277,395 | $93,593,801 |
Georgia Tech Athletic Association Atlanta, GA | $397,031,896 | $79,492,257 |
Queens University Of Charlotte Charlotte, NC | $172,081,537 | $81,135,661 |
Life University Inc Marietta, GA | $133,814,718 | $85,437,129 |
Agnes Scott College Decatur, GA | $395,231,473 | $76,705,901 |
Christian Brothers University Memphis, TN | $107,139,654 | $73,065,264 |
Brenau University Inc Gainesville, GA | $138,158,493 | $73,682,721 |
Cumberland University Lebanon, TN | $59,645,506 | $69,170,999 |