Newberry College

EIN: 570314404 501(c)(3) Education

Newberry, SC

Total Revenue
$61,261,909
Total Expenses
$67,179,056
Total Assets
$79,661,514
Net Assets
$32,249,762
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Financial Trends

Organization Details

Formation Year
1856
Legal Domicile
SC
Phone
8032765010
Tax Period
2023-07-01 to 2024-06-30

Newberry College, founded in 1856, is a mid-sized nonprofit in the Education sector that reported $61.3M in total revenue in fiscal year 2023.

Mission

Newberry College challenges and nurtures students for lifetimes of service and leadership through intellectual transformation, social development, a culture of physical well being, and spiritual growth by providing a Christian education in the Lutheran tradition.

Program Service Accomplishments

Program 1
Expenses: $35,928,404 Revenue: $41,660,226

Instruction Newberry College has a rich tradition of providing personal attention, challenging academic programs, and a close-knit community that welcomes everyone. We combine our strong liberal arts...

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Instruction Newberry College has a rich tradition of providing personal attention, challenging academic programs, and a close-knit community that welcomes everyone. We combine our strong liberal arts foundation with specialized professional degree programs to prepare students for successful futures. Newberry College prepares students in the Lutheran liberal arts tradition through our supportive academic community for lifelong intellectual and personal development, meaningful vocation, and engaged citizenship in the global society. Intellectual Development Students will acquire, develop, and demonstrate: -knowledge of the arts, sciences, and humanities as ways of understanding the world and our place in it. -effective oral and written communication skills. -critical thinking and quantitative analytical skills necessary for interpreting information and solving problems in a 21st-century global society. -proficiency in information literacy. Personal Development Students will acquire, develop, and demonstrate: -the ability to work with others as leaders or as members of a team to accomplish common goals in a diverse society. -an understanding of the heritage of the Christian faith and its contribution to humane problem solving in the evolving global community. -moral reasoning skills essential for making life choices that balance personal freedoms and societal responsibilities. -the knowledge, attitudes, and habits that contribute to a healthy lifestyle. Meaningful Vocation Students will acquire, develop, and demonstrate: -knowledge of the history, methods of inquiry, and current intellectual claims of a chosen specific discipline or interdisciplinary area of study. -knowledge and skills that foster life-long personal growth and professional development in their vocational pursuits. Engaged Citizenship in a Global Society Students will acquire, develop, and demonstrate: -the values necessary for effective citizenship. -the skills and historical knowledge to think critically about complex national and global issues. -the qualities of personal and social responsibility necessary to sustain and deepen democracy.

Program 2
Expenses: $12,852,400 Revenue: $861,676

Student Services At Newberry College, learning takes place both inside and outside the classroom. No matter where a student finds themselves -- on-campus, in-town, or off-the-beaten-path -- they...

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Student Services At Newberry College, learning takes place both inside and outside the classroom. No matter where a student finds themselves -- on-campus, in-town, or off-the-beaten-path -- they exchange ideas and build relationships with faculty, other students, and community members alike. Students discover the "classroom" extends far beyond ivy-covered walls to the greater Newberry community, region, and world. Students live, learn, play, and get a whole life education at Newberry. The Office of Residence Life encourages community and individual growth through effective residential programming and community involvement. We strive to create an environment that students call home and a community that feels like a family. We believe this residential culture is imperative to our mission and an important part of a the learning process. We support students by providing everything students need to be successful including academic assistance, career guidance, health care, development, community service involvement, and academic excellence. Greek organizations are governed by their respective councils; IFC, NPC, and NPHC. Accessibility and affordability are paramount

Program 3
Expenses: $9,621,434 Revenue: $14,862,311

Auxiliary Enterprises Student dining experience is more than great food. It is community experience centered on culinary expertise, fresh ingredients, healthy options and a shared sense of...

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Auxiliary Enterprises Student dining experience is more than great food. It is community experience centered on culinary expertise, fresh ingredients, healthy options and a shared sense of environmental and social responsibility. Our team is committed to creating the best possible dining experience. Join us to experience the comfort, convenience, outstanding food and inviting atmosphere designed especially for students.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,632,939
Program Service Revenue $57,384,213
Investment Income $209,390
Other Revenue $35,367
TOTAL REVENUE $61,261,909

Expense Breakdown

Grants Paid $24,214,221
Salaries & Benefits $17,638,516
Fundraising Expenses $1,264,559
Program Expenses $60,479,773
Other Expenses $25,326,319
TOTAL EXPENSES $67,179,056

Year-over-Year Comparison

2023 2022 Change
Revenue $61,261,909 $62,705,043 0.0%
Expenses $67,179,056 $59,361,003 +0.1%
Net Income $-5,917,147 $3,344,040 -2.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
25
Independent Members
25
Employees
634
Volunteers
30

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
10
$501,194
Total Directors
29
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dr Lenna Young Secretary (Part Year)/Board Chair 10.0
Officer Director
$0 $0 $0
Mr Eric Wells Board Vice Chair (Part Year) 5.0
Officer Director
$0 $0 $0
Mr Jon Hart Treasurer 5.0
Officer Director
$0 $0 $0
Mr Kevin Steelman Trustee (Part Year)/Vice Chair 10.0
Officer Director
$0 $0 $0
Mr Robert Best Board Chair (Part Year)/Trustee 5.0
Officer Director
$0 $0 $0
Ms Mary Grate-Pyos Trustee (Part Year)/Secretary 8.0
Officer Director
$0 $0 $0
Dr Trey Castles Trustee/Exe Comm at Large 5.0
Director
$0 $0 $0
Keith Avery Trustee 5.0
Director
$0 $0 $0
Mr DD Boyd Trustee 5.0
Director
$0 $0 $0
Mr Hugo A Pearce III Trustee 10.0
Director
$0 $0 $0
Mr James P Coggins Trustee 5.0
Director
$0 $0 $0
Mr Jerome Singleton Trustee 5.0
Director
$0 $0 $0
Mr Joe Trainor Trustee 5.0
Director
$0 $0 $0
Mr Joel Carter Trustee (Part Year) 5.0
Director
$0 $0 $0
Mr John Winarchick Trustee 5.0
Director
$0 $0 $0
Mr Kevin Raines Trusteee 5.0
Director
$0 $0 $0
Mr Kevin Strickland Trustee 5.0
Director
$0 $0 $0
Mr Lamont Wells Trustee/ELCA Rep 5.0
Director
$0 $0 $0
Mr Larry Dibiase Trustee (Part Year) 5.0
Director
$0 $0 $0
Mr Mark Hammond Trustee 5.0
Director
$0 $0 $0
Mr Ned Tupper Trustee 5.0
Director
$0 $0 $0
Mr Richard Herrington Trustee (Part Year) 5.0
Director
$0 $0 $0
Mr Sylvester Coleman Trustee 5.0
Director
$0 $0 $0
Mr Todd Sanders Trustee/Athletic Club Rep 5.0
Director
$0 $0 $0
Mr William Steen Trustee 5.0
Director
$0 $0 $0
Ms Jessica Shealy Trustee/Alimni Rep 5.0
Director
$0 $0 $0
Ms Lisa Wagner Trustee 5.0
Director
$0 $0 $0
Ms Patricia Pearson Trustee 5.0
Director
$0 $0 $0
Ms Sara Peters Trustee/Faculty Rep 5.0
Director
$0 $0 $0
Dr Maurice Scherrens President 37.5
Officer
$304,640 $19,911 $324,551
Mr David Sayers VP Admin Affairs & CFO (Part Year) 37.5
Officer
$122,653 $0 $122,653
Mr Joe Botana VP Admin Affairs & CFO 20.0
Officer
$0 $0 $0
Mr Jon Kokos VP Admin Affairs & CFO (Part Year) 37.5
Officer
$45,669 $8,321 $53,990
Dr David Harpool Advisor to the President 37.5
Highest
$114,824 $27,485 $142,309
Dr Sidney H Parrish VPAA & Dean of College (Part Year) 37.5
Highest
$181,575 $28,222 $209,797
Mr Barry McClanahan VP Student Affairs 37.5
Highest
$127,044 $6,650 $133,694
Mr Sean Johnson Athletics Director 37.5
Highest
$122,426 $43,394 $165,820
Mr Todd Knight Head Coach, Football 37.5
Highest
$125,440 $26,140 $151,580
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 $61,261,909 $67,179,056 $79,661,514 $-5,917,147
2023 $62,705,043 $59,361,003 $79,179,675 $3,344,040
2022 $51,709,482 $57,528,731 $71,038,341 $-5,819,249
2021 $54,024,496 $51,166,246 $69,782,907 $2,858,250
2020 $52,885,956 $49,307,343 $63,850,251 $3,578,613
2019 $48,203,628 $47,413,784 $56,637,293 $789,844
2018 $45,137,360 $44,448,332 $55,367,450 $689,028
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