Berea College
- Assets
- $2.0b
- Revenue
- $183.3m
- Investments
- $232.3m
- Employees
- 1,204
- Location
- Berea, KY
- Founding
- 02/1953
- Data as of
- 06/2021
- EIN
- 61-0444650
Organization Overview
Berea College is located in Berea, KY. The organization was established in 1953. 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, Berea College employed 1,204 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berea 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 06/2021, Berea College generated $183.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $140.5m during the year ending 06/2021. While expenses have increased by 4.1% 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.
Since 2015, Berea College has awarded 376 individual grants totaling $6,833,025. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
POST-SECONDARY EDUCATIONAL INSTITUTION PROVIDING INSTRUCTION AND OTHER SERVICES TO STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC SERVICE-ALIGNED WITH ITS MISSION, BEREA COLLEGE HAS A COMMITMENT TO ENGAGE WITH APPALACHIAN COMMUNITIES THROUGH A VARIETY OF IN-REACH AND OUTREACH PROGRAMS. FOUR SUCH INITIATIVES-PARTNERS FOR EDUCATION, GROW APPALACHIA, BRUSHY FORK LEADERSHIP INSTITUTE, AND THE APPALACHIAN FUND-EXIST PRIMARILY ON EXTERNAL FUNDS. PARTNERS FOR EDUCATION RECEIVES THE LARGEST AMOUNT OF EXTERNAL FUNDING, ALMOST EXCLUSIVELY THROUGH THE DEPARTMENT OF EDUCATION, TO SUPPORT CRADLE-TO-CAREER WORK WITH 50,000+ PRE-K-HIGH SCHOOL STUDENTS IN APPALACHIAN KENTUCKY. PRIVATE, STATE, AND FEDERAL FUNDING SUPPORTS GROW APPALACHIA'S MISSION TO ADDRESS FOOD INSECURITY IN CENTRAL APPALACHIA, AND BRUSHY FORK LEADERSHIP INSTITUTE'S EFFORTS TO IDENTIFY AND SUPPORT EMERGING LEADERS IN RURAL COMMUNITIES ARE FUNDED THROUGH BEREA COLLEGE, CONTRACT REVENUE, AND PRIVATE FUNDING. FINALLY, THE APPALACHIAN FUND SUB-GRANTS MONIES FROM BEREA COLLEGE'S APPALACHIAN FUND ENDOWMENT EACH YEAR TO IMPROVE THE HEALTH, EDUCATION, AND GENERAL WELFARE OF PEOPLE LIVING IN APPALACHIA.
INSTRUCTION - EXPENDITURES OF ACADEMIC DEPARTMENTS AND OTHER INSTRUCTION ACTIVITIES BENEFITING APPROXIMATELY 1,500 STUDENTS.
STUDENT SERVICES - STUDENT SUPPORT SERVICES SUCH AS ADMISSIONS, STUDENT LIFE, HEALTH SERVICES, LABOR PROGRAM, AND FINANCIAL AID.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair | OfficerTrustee | 4 | $0 |
Name Not Listed Chair | OfficerTrustee | 7 | $0 |
Name Not Listed Trustee | Trustee | 3 | $0 |
Name Not Listed Trustee | Trustee | 2 | $0 |
Name Not Listed Trustee | Trustee | 2 | $0 |
Name Not Listed Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Help Inc Health Services | 6/29/22 | $568,672 |
Bellwether Education Partners Inc Strategic Advising, Leadership, Talent Services | 6/29/22 | $540,949 |
Omni Associates Ltd Architectural Services | 6/29/22 | $526,541 |
Eastern Ky Concentrated Employment Program Inc Employment Services | 6/29/22 | $515,406 |
Amergent Inc Donor Acquisition And Retention | 6/29/22 | $473,941 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,393,549 |
| Investment income | $16,931,765 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $25,999 |
| Net Rental Income | $122,581 |
| Net Gain/Loss on Asset Sales | $50,192,905 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $292,969 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $183,290,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $6,623,453 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,311,852 |
| Compensation to disqualified persons | $693,783 |
| Other salaries and wages | $50,690,399 |
| Pension plan accruals and contributions | $3,782,317 |
| Other employee benefits | $5,820,093 |
| Payroll taxes | $3,910,690 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,492 |
| Fees for services: Accounting | $93,400 |
| Fees for services: Lobbying | $15,291 |
| Fees for services: Fundraising | $503,932 |
| Fees for services: Investment Management | $560,288 |
| Fees for services: Other | $601,684 |
| Advertising and promotion | $169,274 |
| Office expenses | $966,117 |
| Information technology | $1,979,673 |
| Royalties | $0 |
| Occupancy | $2,285,115 |
| Travel | $147,607 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $188,213 |
| Interest | $1,403,699 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,195,634 |
| Insurance | $557,803 |
| All other expenses | $0 |
| Total functional expenses | $140,537,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $109,826,025 |
| Pledges and grants receivable | $56,183,391 |
| Accounts receivable, net | $907,309 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $27,300,250 |
| Inventories for sale or use | $1,063,147 |
| Prepaid expenses and deferred charges | $4,301,132 |
| Investments—publicly traded securities | $1,412,781,700 |
| Investments—other securities | $232,293,100 |
| Investments—program-related | $617,256 |
| Intangible assets | $0 |
| Other assets | $1,755,530 |
| Total assets | $2,041,975,072 |
| Accounts payable and accrued expenses | $19,752,048 |
| Grants payable | $0 |
| Deferred revenue | $4,133,135 |
| Tax-exempt bond liabilities | $80,602,049 |
| Escrow or custodial account liability | $0 |
| 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 | $21,260,613 |
| Total liabilities | $125,747,845 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,916,227,227 |
Grants Awarded
Over the last fiscal year, Berea College has awarded $755,187 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS WV PURPOSE: SUPPORT OF ORGANIZATION WORKING TO IMPROVE GENERAL WELFARE WITHIN THE APPALACHIAN REGION | $29,925 |
AMERICAN CANCER SOCIETY PURPOSE: SUPPORT OF ORGANIZATION WORKING TO IMPROVE GENERAL WELFARE WITHIN THE APPALACHIAN REGION | $10,000 |
APPALACHIAN ARTISAN CENTER OF KENTUCKY PURPOSE: SUPPORT OF ORGANIZATION WORKING TO IMPROVE GENERAL WELFARE WITHIN THE APPALACHIAN REGION | $11,500 |
APPALACHIAN EARLY CHILDHOOD NETWORK INC PURPOSE: SUPPORT OF ORGANIZATION WORKING TO IMPROVE GENERAL WELFARE WITHIN THE APPALACHIAN REGION | $5,000 |
APPALACHIAN NE-TN RESOURCE PURPOSE: SUPPORT OF ORGANIZATION WORKING TO IMPROVE GENERAL WELFARE WITHIN THE APPALACHIAN REGION | $21,807 |
BETHANY HOUSE ABUSE CENTER PURPOSE: SUPPORT OF ORGANIZATION WORKING TO IMPROVE GENERAL WELFARE WITHIN THE APPALACHIAN REGION | $18,500 |