Benedict College
- Assets
- $122.5m
- Revenue
- $61.0m
- Investments
- $4.4m
- Employees
- 521
- Location
- Columbia, SC
- Founding
- 02/1945
- Data as of
- 06/2020
- EIN
- 57-0314365
Organization Overview
Benedict College is located in Columbia, SC. The organization was established in 1945. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2020, Benedict College employed 521 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Benedict 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 06/2020, Benedict College generated $61.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $60.4m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 5 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
A FULL OPPORTUNITY COLLEGE WITH HIGH QUALITY PROGRAMS OF TEACHING, RESEARCH, AND PUBLIC SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - APPROXIMATELY 2,000 STUDENTS. THE COLLEGE AWARDED APPROXIMATELY 229 DEGREES DURING THE 2019-2020 SCHOOL YEAR.
STUDENT SERVICES - ENROLLMENT SERVICES, COLLEGE REGISTRAR, HEALTH AND COUNSELING, SPORTS AND RECREATION.
AUXILIARY ENTERPRISES - THE COLLEGES' DORMITORIES, DINING HALL, AND CAMPUS STORE ARE THE MAJOR AUXILIARY ENTERPRISES SERVING THE COLLEGE COMMUNITY. TEN RESIDENCE HALLS PROVIDE QUARTERS FOR APPROXIMATELY 1,600 STUDENTS.
RESEARCH, PUBLIC SERVICE, ACADEMIC SUPPORT - THE COLLEGE LIBRARY (APPROXIMATELY 130,000 VOLUMES HELD), STUDENT FINANCIAL AID, VARIOUS OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Roslyn Clark Artis President & CEO | Officer | 40 | $287,402 |
Dr Ceeon Smith Chief Of Staff | 40 | $118,346 | |
James White Athletics | 40 | $114,725 | |
Leandra Burgess VP Institutional Advancement | 40 | $112,552 | |
Christopher Thompson VP For Business & Finance | Officer | 40 | $58,260 |
G Tyrone Bonds Vice Chairman | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jenzabar Inc Campus Support And Software | 6/29/20 | $2,384,933 |
Perkins Management Services Co Food Service | 6/29/20 | $1,270,910 |
Follett-fheg Benedict College Educational Material | 6/29/20 | $1,571,630 |
Hot Rocks Paving Co Contractor | 6/29/20 | $732,428 |
Medallion Athletic Equipment | 6/29/20 | $541,840 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,537 |
| Related organizations | $0 |
| Government grants | $14,722,259 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,986,449 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,769,245 |
| Total Program Service Revenue | $42,817,097 |
| Investment income | $518,855 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $127,621 |
| Net Gain/Loss on Asset Sales | -$99,440 |
| Net Income from Fundraising Events | -$11,295 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,010,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,510,948 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $520,493 |
| Compensation of current officers, directors, key employees. | $171,210 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,161,542 |
| Pension plan accruals and contributions | $524,714 |
| Other employee benefits | $1,497,010 |
| Payroll taxes | $1,153,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,303 |
| Fees for services: Accounting | $148,512 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,726 |
| Fees for services: Other | $5,362,423 |
| Advertising and promotion | $111,277 |
| Office expenses | $382,239 |
| Information technology | $1,221,468 |
| Royalties | $0 |
| Occupancy | $2,318,097 |
| Travel | $749,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,919,781 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,088,388 |
| Insurance | $911,919 |
| All other expenses | $340,246 |
| Total functional expenses | $60,352,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,563,997 |
| Savings and temporary cash investments | $11,497,136 |
| Pledges and grants receivable | $2,518,483 |
| Accounts receivable, net | $1,716,982 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $690,071 |
| Net Land, buildings, and equipment | $75,915,065 |
| Investments—publicly traded securities | $17,131,819 |
| Investments—other securities | $4,440,936 |
| Investments—program-related | $45,907 |
| Intangible assets | $0 |
| Other assets | $932,883 |
| Total assets | $122,453,279 |
| Accounts payable and accrued expenses | $5,330,488 |
| Grants payable | $0 |
| Deferred revenue | $10,236,776 |
| Tax-exempt bond liabilities | $19,640,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $52,054,640 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $880,527 |
| Total liabilities | $88,142,431 |
| Net assets without donor restrictions | $19,198,005 |
| Net assets with donor restrictions | $15,112,843 |
| 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 | $122,453,279 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Benedict College has recieved totaling $36,500.
| Awarding Organization | Amount |
|---|---|
Kp Cares Powder Springs, GA PURPOSE: Scholarship and Travel | $35,500 |
Chapman Foundation Greenville, SC PURPOSE: 501(C)(3) EDUCATIONAL INSTITUTION CONTRIBUTION | $1,000 |
Endowment Analysis
| Beg. Balance | $13,370,789 |
| Earnings | -$174,343 |
| Net Contributions | $469,351 |
| Ending Balance | $13,665,797 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anderson University Anderson, SC | $269,873,980 | $130,183,026 |
Wofford College Spartanburg, SC | $486,613,567 | $116,076,279 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Oglethorpe University Inc Atlanta, GA | $134,446,425 | $78,800,641 |
Claflin University Orangeburg, SC | $159,550,066 | $90,488,927 |
Catawba College Salisbury, NC | $404,243,208 | $275,797,439 |
Benedict College Columbia, SC | $122,453,279 | $61,010,211 |
Piedmont University Inc Demorest, GA | $159,118,905 | $56,789,955 |
North Carolina Wesleyan University Rocky Mount, NC | $65,274,015 | $57,107,518 |
Mars Hill University Mars Hill, NC | $168,863,107 | $54,418,250 |