Bethune-Cookman University
- Assets
- $228.8m
- Revenue
- $130.7m
- Investments
- $40.4m
- Employees
- 864
- Location
- Daytona Beach, FL
- Founding
- 03/1944
- Data as of
- 06/2022
- EIN
- 59-0704726
Organization Overview
Bethune-Cookman University is located in Daytona Beach, FL. The organization was established in 1944. 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, Bethune-Cookman University employed 864 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethune-Cookman University 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, Bethune-Cookman University generated $130.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $111.6m during the year ending 06/2022. While expenses have increased by 0.3% 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
TO SERVE THE EDUCATIONAL, SOCIAL, AND CULTURAL NEEDS OF ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION: BETHUNE-COOKMAN UNIVERSITY OFFERS BACHELOR OF ARTS AND BACHELOR OF SCIENCE DEGREES IN 37 MAJORS AREAS, THROUGH SIX MAJOR DIVISIONS; SCHOOL OF BUSINESS, EDUCATION, LIBERAL ARTS, HEALTH SCIENCES, SCIENCE/MATHEMATICS AND SOCIAL SCIENCES. THE UNIVERSITY ALSO OFFERS THREE MASTER'S DEGREE PROGRAMS.
STUDENT SERVICES: STUDENTS ARE INVOLVED IN A VARIETY OF CULTURAL AND SOCIAL PROGRAMS TO ENRICH THEIR EDUCATIONAL EXPERIENCES. SUPPORT FOR STUDENTS WITH LEARNING AND PHYSICAL DISABILITIES ARE ALSO PROVIDED. VARIOUS COMPUTER LABS AND A 24-HOUR LIBRARY ARE OPEN TO ALL STUDENTS TO SUPPORT THEIR EDUCATIONAL EXPERIENCE. BETHUNE-COOKMAN UNIVERSITY ALSO HAS A ROTC OFFICE AVAILABLE TO STUDENTS.
STUDENT AID: GRANTS AND SCHOLARSHIPS WERE PROVIDED TO STUDENTS BASED ON ACADEMIC AND ATHLETIC ACHIEVEMENT, AND FINANCIAL NEED. THE UNIVERSITY ALSO PARTICIPATES IN VARIOUS FEDERAL AND STATE PROGRAMS OFFERING FINANCIAL AID TO STUDENTS.
AUXILIARY SERVICES: THROUGH ITS FOOD SERVICES DEPARTMENT, MEAL PLANS ARE PROVIDED FOR STUDENTS LIVING ON CAMPUS. A CAFETERIA, IN ADDITION TO A STARBUCKS CAFE AND WORLD OF WINGS ARE ALSO AVAILABLE FOR OFF-CAMPUS STUDENTS, FACULTY AND VISITORS. VARIOUS ATHLETIC PROGRAMS ARE ALSO OFFERED FOR STUDENTS. THE UNIVERSITY ALSO MAINTAINS SEVEN RESIDENCE HALLS THAT PROVIDE FULL LIVING FACILITIES FOR APPROXIMATELY 1,800 STUDENTS. ALL RESIDENCE HALLS ARE CONNECTED TO THE INTERNET. THE BOOKSTORE OFFERS TEXTBOOKS AND OTHER SUPPLIES FOR THE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Belvin Perry Jr Escquire Chairman | OfficerTrustee | 1 | $0 |
Joyours Pete Gamble Vice Chair | OfficerTrustee | 1 | $0 |
Jennier L Adams Secretary | OfficerTrustee | 1 | $0 |
Jeffrey E Branch Trustee | Trustee | 1 | $0 |
Deveron Gibbons Trustee | Trustee | 1 | $0 |
David L Brewer Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Service And Maintenance | 6/29/22 | $11,099,224 |
Mediatech Inc Audio Visual | 6/29/22 | $900,769 |
J & S Enterprise Construction Services | 6/29/22 | $736,955 |
Ricoh Usa Inc Digital Business Services | 6/29/22 | $642,858 |
Jenzabar Inc Software Consulting | 6/29/22 | $492,954 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $59,271,358 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,365,285 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $64,636,643 |
| Total Program Service Revenue | $62,224,703 |
| Investment income | $58,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $51,505 |
| Net Gain/Loss on Asset Sales | $3,714,812 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $130,685,909 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,876,580 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,463,953 |
| Compensation of current officers, directors, key employees. | $1,240,596 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,737,720 |
| Pension plan accruals and contributions | $207,053 |
| Other employee benefits | $2,488,801 |
| Payroll taxes | $2,058,454 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $309,454 |
| Fees for services: Accounting | $107,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,724 |
| Fees for services: Other | $5,111,064 |
| Advertising and promotion | $216,376 |
| Office expenses | $6,457,350 |
| Information technology | $3,636,620 |
| Royalties | $0 |
| Occupancy | $15,407,498 |
| Travel | $2,891,361 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,867,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,859,413 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $111,603,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32,299,919 |
| Pledges and grants receivable | $4,589,171 |
| Accounts receivable, net | $1,431,938 |
| 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 | $337,429 |
| Net Land, buildings, and equipment | $137,142,824 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $40,423,544 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,596,971 |
| Total assets | $228,821,796 |
| Accounts payable and accrued expenses | $4,142,928 |
| Grants payable | $0 |
| Deferred revenue | $1,183,176 |
| 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 | $93,669,688 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,392,622 |
| Total liabilities | $101,388,414 |
| Net assets without donor restrictions | $97,373,336 |
| Net assets with donor restrictions | $30,060,046 |
| 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 | $228,821,796 |
Grants Awarded
Over the last fiscal year, Bethune-Cookman University has awarded $91,935 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
EEI MANUFACTURING SERVICES PURPOSE: BETHUNE-COOKMAN WILL PROVIDE 2 INTERN STUDENTS TO LEARN AND WORK EEI'S ERP SYSTEM. BETHUNE -COOKMAN WILL PROVIDE ASSISTANCE IN REVIEWING AND ENHANCING EEI'S CURRENT MARKETING PLAN. | $80,000 |
UNIVERSITY OF SOUTH FLORIDA PURPOSE: RESEARCH, EVALUATION & MEASUREMENT OF THE EFFECTS OF SOCIOSCIENTIFIC ARGUMENTATION DEVELOPMENT ON STUDENT ACADEMIC SUCCESS | $11,935 |