BEREA COLLEGE

EIN: 610444650 501(c)(3) Education

BEREA, KY

Total Revenue
$157,457,303
Total Expenses
$134,094,613
Total Assets
$1,976,552,784
Net Assets
$1,866,842,390
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1855
Legal Domicile
KY
Phone
8599853082
Tax Period
2022-07-01 to 2023-06-30

BEREA COLLEGE, founded in 1855, is a major nonprofit in the Education sector that reported $157.5M in total revenue in fiscal year 2022. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $134.1M left a modest 15% surplus.

Mission

BEREA COLLEGE SEEKS TO TRANSFORM THE LIVES OF ITS STUDENTS AND THEIR FAMILIES BY ADMITTING ACADEMICALLY PROMISING STUDENTS FROM LOW-INCOME FAMILIES. CORE TO ITS MISSION OF TRANSFORMING LIVES AND CIRCUMSTANCES, THE COLLEGE COVERS THE COST OF TUITION FOR EVERY DEGREE-SEEKING STUDENT. (CONTINUED ON SCHEDULE O)

Program Service Accomplishments

Program 1
Expenses: $30,302,191 Revenue: $664,038

INSTRUCTION - EXPENDITURES OF ACADEMIC DEPARTMENTS AND OTHER INSTRUCTION ACTIVITIES BENEFITING APPROXIMATELY 1,500 STUDENTS.

Program 2
Expenses: $28,932,974 Revenue: $2,259,119

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. 1) Partners for Education receives...

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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. 1) 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 through high school students in Appalachian Kentucky. 2) Private, state, and federal funding supports Grow Appalachia's mission to address food insecurity in central Appalachia. 3) Brushy Fork Leadership Institute supports emerging leaders in rural communities funded through Berea College, contract revenue, and private funding. 4) 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.

Program 3
Expenses: $16,595,035 Revenue: $1,437,934

STUDENT SERVICES - STUDENT SUPPORT SERVICES SUCH AS ADMISSIONS, STUDENT LIFE, HEALTH SERVICES, LABOR PROGRAM, AND FINANCIAL AID.

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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 (2022)

Revenue Breakdown

Contributions & Grants $100,394,459
Program Service Revenue $23,753,009
Investment Income $31,504,233
Other Revenue $1,805,602
TOTAL REVENUE $157,457,303

Expense Breakdown

Grants Paid $4,988,153
Salaries & Benefits $60,133,357
Fundraising Expenses $6,413,967
Program Expenses $109,167,356
Other Expenses $68,447,816
TOTAL EXPENSES $134,094,613

Year-over-Year Comparison

2022 2021 Change
Revenue $157,457,303 $243,070,272 -0.4%
Expenses $134,094,613 $155,512,051 -0.1%
Net Income $23,362,690 $87,558,221 -0.7%
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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Governance

Voting Members
34
Independent Members
33
Employees
1084
Volunteers
278

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
14
$2,664,834
Total Directors
34
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A VICE CHAIR 4.0
Officer Director
$0 $0 $0
N/A CHAIR 7.0
Officer Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 2.0
Director
$0 $0 $0
N/A TRUSTEE 3.0
Director
$0 $0 $0
N/A VICE PRESIDENT FOR FINANCE 50.0
Officer
$190,341 $36,374 $226,715
N/A VP FOR STUDENT LIFE 50.0
Officer
$146,456 $21,310 $167,766
N/A VP FOR ALUMNI, COMMUNICATIONS, AND PHILANTHROPY 50.0
Officer
$202,490 $30,456 $232,946
N/A VP FOR STUDENT LIFE 50.0
Officer
$93,906 $24,067 $117,973
N/A VP FOR DIVERSITY EQUITY INCLUSION 50.0
Officer
$120,719 $33,682 $154,401
N/A DEAN OF LABOR 50.0
Officer
$100,201 $28,694 $128,895
N/A PRESIDENT 60.0
Officer
$487,772 $57,401 $545,173
N/A DEAN OF FACULTY 50.0
Officer
$160,045 $40,357 $200,402
N/A VP FOR OPERATIONS & SUSTAINABILITY 50.0
Officer
$188,434 $39,772 $228,206
N/A PROVOST 50.0
Officer
$178,414 $32,036 $210,450
N/A VP FOR STRATEGIC INITIATIVES 50.0
Officer
$134,435 $18,728 $153,163
N/A SECRETARY/GENERAL COUNSEL 40.0
Officer
$261,237 $37,507 $298,744
N/A SENIOR AVP FOR PHILANTHROPY 40.0
Highest
$138,026 $25,269 $163,295
N/A PROFESSOR/CO-DIR OF EPG 40.0
Highest
$142,682 $11,394 $154,076
N/A CHAIR OF NURSING 40.0
Highest
$174,762 $31,043 $205,805
N/A ASSOC VP FOR HUMAN RESOURCES 40.0
Highest
$133,018 $19,328 $152,346
N/A CHIEF INFORMATION OFFICER 40.0
Highest
$125,239 $37,319 $162,558
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 No data No data No data No data
2023 $157,457,303 $134,094,613 $1,976,552,784 $23,362,690
2022 $243,070,272 $155,512,051 $1,868,201,097 $87,558,221
2021 $183,290,342 $140,537,796 $2,041,975,072 $42,752,546
2020 $205,202,087 $142,734,145 $1,637,313,850 $62,467,942
2019 $250,780,527 $132,494,271 $1,616,301,681 $118,286,256
2018 $167,524,220 $121,608,736 $1,559,945,348 $45,915,484
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