BETHEL UNIVERSITY INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1947

Legal Domicile

Phone

5748077000

Tax Period

2023-07-01 to 2024-06-30

BETHEL UNIVERSITY INC, founded in 1947, is a mid-sized nonprofit in the Education sector that reported $43.4M in total revenue in fiscal year 2023.

Mission

CHALLENGING ACADEMIC COURSES, STUDY ABROAD PROGRAMS, INTERNSHIPS, SHORT TERM MISSION EXPERIENCES, AND LOCAL SERVICE OPPORTUNITIES ARE A FEW OF THE WAYS BETHEL UNIVERSITY PREPARES ITS STUDENTS FOR THEIR CALLING AND CAREER AND TO BE AMBASSADORS FOR CHRIST IN THE WORLD. FOUNDED IN 1947, BETHEL IS AN ACCREDITED EVANGELICAL CHRISTIAN UNIVERSITY OF THE ARTS AND SCIENCES OFFERING MORE THAN 50 AREAS OF STUDY. SOME OF THE ACHIEVEMENTS OF STUDENTS GRADUATING FROM BETHEL'S PROGRAMS INCLUDE DOUBLE THE NATIONAL AVERAGE MEDICAL SCHOOL ACCEPTANCE RATE, 100% JOB PLACEMENT RATE IN NURSING, AND 99% JOB PLACEMENT RATE IN MUSIC EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $39,549,466 Revenue: $37,733,267

BETHEL UNIVERSITY PROVIDED EDUCATIONAL SERVICES TO APPROXIMATELY 1,200 STUDENTS DURING THE 2023/2024 ACADEMIC YEAR. THIS INCLUDES OVER FIFTY (50) ACADEMIC PROGRAMS, AWARDING BOTH GRADUATE AND...

BETHEL UNIVERSITY PROVIDED EDUCATIONAL SERVICES TO APPROXIMATELY 1,200 STUDENTS DURING THE 2023/2024 ACADEMIC YEAR. THIS INCLUDES OVER FIFTY (50) ACADEMIC PROGRAMS, AWARDING BOTH GRADUATE AND UNDERGRADUATE DEGREES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,060,473

Program Service Revenue $37,720,758

Investment Income $393,246

Other Revenue $199,026

TOTAL REVENUE $43,373,503

Expense Breakdown

Grants Paid $16,189,758

Salaries & Benefits $14,990,585

Fundraising Expenses $891,834

Program Expenses $39,549,466

Other Expenses $12,983,819

TOTAL EXPENSES $44,164,162

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,373,503	$44,455,066	0.0%
Expenses	$44,164,162	$44,198,686	0.0%
Net Income	$-790,659	$256,380	-4.1%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

909

Volunteers

100

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$712,948

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN HABEGGER	TRUSTEE/VICE-CHAIR	1.0	Officer Director	$0	$0	$0
BRUCE KORENSTRA	TRUSTEE/SECRETARY	1.0	Officer Director	$0	$0	$0
GREG HARTMAN	TRUSTEE/TREASURER	1.0	Officer Director	$0	$0	$0
ARNOLD SALLIE	TRUSTEE	1.0	Director	$0	$0	$0
BILL GATES	TRUSTEE	1.0	Director	$0	$0	$0
CHARLES HABEGGER	TRUSTEE EMERITUS	1.0	Director	$0	$0	$0
DARYL PANNABECKER	TRUSTEE	1.0	Director	$0	$0	$0
HEATHER GILBERT	TRUSTEE	1.0	Director	$0	$0	$0
JOAN MCCLENDON	TRUSTEE	1.0	Director	$0	$0	$0
JOHN GARDNER	TRUSTEE	1.0	Director	$0	$0	$0
JOSE MENDEZ	TRUSTEE	1.0	Director	$0	$0	$0
JOSHUA GREGORY	TRUSTEE	1.0	Director	$0	$0	$0
LYNN COLEMAN	TRUSTEE	1.0	Director	$0	$0	$0
PABLO RODRIGUEZ	TRUSTEE	1.0	Director	$0	$0	$0
PHILIP WAGLER	TRUSTEE	1.0	Director	$0	$0	$0
RANDY LEHMAN	TRUSTEE	1.0	Director	$0	$0	$0
REV RODNEY ARNOLD	TRUSTEE	1.0	Director	$0	$0	$0
RICHARD FELIX	TRUSTEE EMERITUS	1.0	Director	$0	$0	$0
WILLIAM HOSSLER	TRUSTEE	1.0	Director	$0	$0	$0
WILLIAM SMILEY	TRUSTEE	1.0	Director	$0	$0	$0
AMANDA SLAUGHTER	VP ENROLLMENT MANAGEMENT	40.0	Officer	$110,108	$0	$110,108
BARBARA BELLEFEUILLE	PRESIDENT	40.0	Officer	$243,585	$40,167	$283,752
BRENT LAVIGNE	VP INSTITUTIONAL ADVANCEMENT	40.0	Officer	$112,434	$23,170	$135,604
Julie Beam	VP for Student Development and Success	40.0	Officer	$56,277	$2,474	$58,751
Pamela Campbell	CFO, VP for Administration and Finance	40.0	Officer	$30,108	$0	$30,108
SHAWN HOLTGREN	VP STUDENT DEVELOPMENT	40.0	Officer	$84,598	$10,027	$94,625

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$43,373,503	$44,164,162	$47,831,788	$-790,659
2023	$44,455,066	$44,198,686	$48,188,984	$256,380
2022	$46,428,108	$46,049,876	$46,181,049	$378,232
2021	$45,712,753	$42,647,349	$49,496,570	$3,065,404
2020	$40,006,041	$40,391,222	$48,689,339	$-385,181
2018	$43,496,412	$42,004,125	$48,574,702	$1,492,287