BREVARD COLLEGE CORPORATION

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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

1934

Legal Domicile

Principal Officer

DR BRADLEY J ANDREWS

Phone

8288848219

Tax Period

2024-06-01 to 2025-05-31

BREVARD COLLEGE CORPORATION, founded in 1934, is a mid-sized nonprofit in the Education sector that reported $41.6M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $39.1M left a modest 6% surplus.

Mission

BREVARD COLLEGE IS COMMITTED TO AN EXPERIENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL, AND SOCIAL ACTION.

Program Service Accomplishments

Program 1

Expenses: $26,613,375 Revenue: $25,565,068

BREVARD COLLEGE IS A BACCALAUREATE-AWARDING INSTITUTION COMMITTED TO A RESIDENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL AND SOCIAL ACTION...

BREVARD COLLEGE IS A BACCALAUREATE-AWARDING INSTITUTION COMMITTED TO A RESIDENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL AND SOCIAL ACTION. BREVARD IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS-COMMISSION ON COLLEGES; THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC; AND THE TEACHER EDUCATION ACCREDITING COUNCIL. DURING FISCAL YEAR 2025, INSTRUCTION WAS PROVIDED TO 875 STUDENTS. 804 STUDENTS WERE U.S. CITIZENS WITH 409 RESIDING IN HOUSEHOLDS FROM NC. THE STUDENT BODY REPRESENTS STUDENTS FROM 36 U.S. STATES AND 19 FOREIGN COUNTRIES. BREVARD COLLEGE HAS BEEN NAMED ONE OF THE BEST VALUE SCHOOLS IN NC AND HAS ALSO BEEN LISTED BY U.S. NEWS & WORLD REPORT AS ONE OF THE BEST REGIONAL COLLEGES IN THE SOUTH.

Program 2

Expenses: $5,082,964 Revenue: $10,286,066

A BREVARD COLLEGE EDUCATION EXTENDS FAR BEYOND THE WALLS OF A CLASSROOM. OF 875 STUDENTS, 711 PARTICIPATED IN THE COLLEGE'S RESIDENTIAL EDUCATIONAL EXPERIENCE. ALL OF THE FACILITIES ON THE BREVARD...

A BREVARD COLLEGE EDUCATION EXTENDS FAR BEYOND THE WALLS OF A CLASSROOM. OF 875 STUDENTS, 711 PARTICIPATED IN THE COLLEGE'S RESIDENTIAL EDUCATIONAL EXPERIENCE. ALL OF THE FACILITIES ON THE BREVARD COLLEGE CAMPUS ARE JUST A SHORT WALK OR BIKE AWAY. THIS DESIGN ALLOWS STUDENTS TO FOCUS ON EDUCATION, GROWTH AND FUN WITHOUT THE HASSLE OF THE RUSHING FROM PLACE TO PLACE. THE RELAXED ATMOSPHERE OF COMFORTABLE LIVING AND DINING SPACES ARE COMPLEMENTED WITH THE STATE-OF-THE-ART EDUCATION FACILITIES INCLUDING A MODERN LIBRARY AND A WORLD-CLASS CONCERT HALL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,790,736

Program Service Revenue $35,851,134

Investment Income $1,925,107

Other Revenue $2,933

TOTAL REVENUE $41,569,910

Expense Breakdown

Grants Paid $13,721,794

Salaries & Benefits $14,108,367

Fundraising Expenses $395,301

Program Expenses $31,696,339

Other Expenses $11,280,021

TOTAL EXPENSES $39,110,182

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,569,910	$37,943,819	+0.1%
Expenses	$39,110,182	$36,773,287	+0.1%
Net Income	$2,459,728	$1,170,532	+1.1%

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

837

Volunteers

450

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

$526,966

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
W HEATHLEY HEATH WELDON	CHAIR	1.00	Officer Director	$0	$0	$0
J PHILLIP JEROME	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
W BRADLEY LAKESON	SECRETARY	1.00	Officer Director	$0	$0	$0
DR BETSY O BAREFOOT	DIRECTOR	1.00	Director	$0	$0	$0
DR B BARBARA BOERNER	DIRECTOR	1.00	Director	$0	$0	$0
DR JOHN S BOGGS	DIRECTOR	1.00	Director	$0	$0	$0
ISAAC BRADLEY	DIRECTOR	1.00	Director	$0	$0	$0
LT GEN RONALD L BURGESS JR	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN DAVISON	DIRECTOR	1.00	Director	$0	$0	$0
JOE DEPIPPO	DIRECTOR	1.00	Director	$0	$0	$0
CALVIN HARRELSON III	DIRECTOR	1.00	Director	$0	$0	$0
REGINALD REG D HEINITSH JR	DIRECTOR	1.00	Director	$0	$0	$0
ROGER HERBERT	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA A HULSEY	DIRECTOR	1.00	Director	$0	$0	$0
DR MARK LEMEL	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA M NESBITT	DIRECTOR	1.00	Director	$0	$0	$0
LEIGH ANNE MONAGHAN	DIRECTOR	1.00	Director	$0	$0	$0
ALFRED AL F PLATT JR	DIRECTOR	1.00	Director	$0	$0	$0
FRANK STOKES	DIRECTOR	1.00	Director	$0	$0	$0
JERRY STONE	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH BETTY O TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
DONA D VAUGHN	DIRECTOR	1.00	Director	$0	$0	$0
W GIL WEST	DIRECTOR	1.00	Director	$0	$0	$0
ART FISHER	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
A EDWIN JONES	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
BRADLEY ANDREWS	PRESIDENT	40.00	Officer	$286,188	$29,083	$315,271
JUAN MASCARO	CFO	40.00	Officer	$198,308	$13,387	$211,695
MITCHELL RADFORD	VP FINANCE	40.00	Highest	$121,059	$16,167	$137,226
R CHAD HOLT	VP ADMISSIONS & FINANCIAL AID	40.00	Highest	$121,856	$17,562	$139,418
PATRICK WAGNER	VP FOR ALUMNI AFFAIRS & DEVELOPMENT	40.00	Highest	$170,691	$20,160	$190,851
JENNIFER FRICK-RUPPERT	VP FOR ACADEMIC AFFAIRS	40.00	Highest	$120,862	$15,919	$136,781
MICHAEL LEAMY	ASSOC. VP AA ONLINE LEARNING	40.00	Highest	$128,031	$5,659	$133,690

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	$41,569,910	$39,110,182	$90,481,812	$2,459,728
2024	$37,943,819	$36,773,287	$86,950,587	$1,170,532
2023	$34,931,347	$34,079,741	$83,131,104	$851,606
2022	$40,087,405	$34,438,362	$84,469,822	$5,649,043
2021	$34,914,696	$32,461,860	$80,220,502	$2,452,836
2020	$32,394,506	$31,766,526	$65,903,199	$627,980
2019	$29,754,384	$29,736,970	$64,790,983	$17,414
2018	$30,481,450	$27,901,306	$66,764,209	$2,580,144