Berry College Inc
- Assets
- $1.5b
- Revenue
- $204.2m
- Investments
- $175.6m
- Employees
- 2,992
- Location
- Mount Berry, GA
- Founding
- 08/1926
- Data as of
- 06/2022
- EIN
- 58-0566133
Organization Overview
Berry College Inc is located in Mount Berry, GA. The organization was established in 1926. 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, Berry College Inc employed 2,992 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berry College Inc 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, Berry College Inc generated $204.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $162.5m during the year ending 06/2022. While expenses have increased by 3.5% 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
BERRY COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE PLACING EMPHASIS ON THE IMPORTANCE OF A COMPREHENSIVE AND BALANCED EDUCATION THAT UNITES A CHALLENGING ACADEMIC PROGRAM WITH OPPORTUNITIES FOR MEANINGFUL WORK EXPERIENCE, SPIRITUAL AND MORAL GROWTH, AND SIGNIFICANT SERVICE TO OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION: INSTRUCTION - BERRY COLLEGE PROVIDES AN EDUCATION IN THE LIBERAL ARTS AND PROFESSIONAL FIELDS WHICH INCORPORATES INTELLECTUAL ENGAGEMENT, SERVICE TO OTHERS, AND MEANINGFUL REAL LIFE WORK EXPERIENCES TO ENABLE STUDENTS TO LIVE RESPONSIBLE, PRODUCTIVE AND CREATIVE LIVES IN A CONSTANTLY CHANGING WORLD. (2,251 STUDENTS)
HIGHER EDUCATION: AUXILIARY ENTERPRISES (INCLUDING FOOD SERVICES, RESIDENCE HALLS, AND BOOKSTORE) PROVIDE A QUALITY RESIDENTIAL LIVING-LEARNING ENVIRONMENT WHICH IS SAFE, WELL MAINTAINED AND COMFORTABLE FOR STUDENTS. (2,251 STUDENTS)
HIGHER EDUCATION: ACADEMIC SUPPORT, STUDENT SERVICES, AND INSTITUTIONAL SUPPORT - THE COLLEGE FURTHERS OUR STUDENTS' INTELLECTUAL, MORAL AND SPIRITUAL GROWTH; OFFERS LESSONS THAT ARE GAINED FROM WORTHWHILE WORK DONE WELL; AND CHALLENGES THEM TO DEVOTE THEIR LEARNING TO COMMUNITY AND CIVIC BETTERMENT. OUR MISSION GUIDES BERRY'S FACULTY, STAFF, TRUSTEES AND STUDENTS TOWARD A CHALLENGING AND BALANCED EDUCATIONAL PROGRAM. THE ULTIMATE AIM OF BERRY COLLEGE IS SERVICE TO HUMANITY THROUGH INSPIRATION AND PREPARATION BEST EXPRESSED IN BERRY'S MOTTO: NOT TO BE MINISTERED UNTO, BUT TO MINISTER. (2,251 STUDENTS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen R Briggs President | Officer | 40 | $627,347 |
Brian I Erb Treasurer/v P For Finance | Officer | 40 | $451,088 |
Mary Boyd Provost | 40 | $269,617 | |
Cynthia Court V P For Advancement | 40 | $253,390 | |
Nancy Rewis V P For Marketing And Communication | 40 | $214,708 | |
Joyce Heames Dean Campbell School Of Business | 40 | $235,953 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Inc Food Service | 6/29/22 | $9,985,905 |
Ruffalo Noel Levitz Llc Enrollment Management Services | 6/29/22 | $261,618 |
Bdo Usa Llp Accounting Firm | 6/29/22 | $221,044 |
Level Agency Marketing Firm | 6/29/22 | $185,883 |
Building Four Fabrication Llc Exhibit Design And Fabrication | 6/29/22 | $176,892 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,519,443 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,074,186 |
| Noncash contributions included in lines 1a–1f | $4,975,749 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,593,629 |
| Total Program Service Revenue | $115,380,190 |
| Investment income | $26,350,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $977,776 |
| Net Gain/Loss on Asset Sales | $40,454,687 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $204,171,222 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $56,034,898 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,435,174 |
| Compensation of current officers, directors, key employees. | $1,435,174 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,884,022 |
| Pension plan accruals and contributions | $2,971,995 |
| Other employee benefits | $7,313,965 |
| Payroll taxes | $2,720,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,282 |
| Fees for services: Accounting | $230,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,420,785 |
| Advertising and promotion | $524,603 |
| Office expenses | $9,986,290 |
| Information technology | $2,578,461 |
| Royalties | $0 |
| Occupancy | $7,902,728 |
| Travel | $2,876,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,037,257 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,978,539 |
| Insurance | $885,255 |
| All other expenses | $599,651 |
| Total functional expenses | $162,479,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,227,274 |
| Savings and temporary cash investments | $13,201,561 |
| Pledges and grants receivable | $13,340,052 |
| Accounts receivable, net | $2,656,511 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,429,154 |
| Inventories for sale or use | $955,666 |
| Prepaid expenses and deferred charges | $430,523 |
| Net Land, buildings, and equipment | $214,483,030 |
| Investments—publicly traded securities | $1,030,414,969 |
| Investments—other securities | $175,554,947 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,464,693,687 |
| Accounts payable and accrued expenses | $15,356,423 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $79,636,700 |
| Escrow or custodial account liability | $2,563 |
| 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 | $36,333,468 |
| Total liabilities | $131,329,154 |
| Net assets without donor restrictions | $160,359,535 |
| Net assets with donor restrictions | $1,173,004,998 |
| 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 | $1,464,693,687 |