Beloit College: Nonprofit Profile, Financials & Form 990 (EIN 39-0808497)

Revenue by fiscal year
FY2020	$76.4M
FY2021	$75.2M
FY2022	$86.2M
FY2023	$79.2M
FY2024	$82.4M
FY2025	$99.7M

Expenses by fiscal year
FY2020	$78.5M
FY2021	$77.7M
FY2022	$84.0M
FY2023	$84.8M
FY2024	$85.9M
FY2025	$90.6M

Net assets by fiscal year
FY2020	$179.5M
FY2021	$185.7M
FY2022	$177.5M
FY2023	$176.6M
FY2024	$178.4M
FY2025	$185.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1941.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

80%

17%

Program services 80% · $72.5M Management & general 17% · $15.9M Fundraising 2% · $2.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

46 people listed on the 990; $2.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Mr Eric Boynton

President

$336,926Pt VII · Sec A

Dr H Scott Bierman

Former President

$191,338Pt VII · Sec A

Mr Daniel Schooff

VP Development Until 2/18/25

$185,426Pt VII · Sec A

Ms Donna Oliver Interim

Provost and Dean of the College

$182,024Pt VII · Sec A

Ms Lorraine Rhead

Vice President for HR & Operations

$179,491Pt VII · Sec A

Mr Cecil Youngblood

Dean of Students Until 12/31/24

$178,880Pt VII · Sec A

Ms Karen Schedin

VP for Enrollment

$173,731Pt VII · Sec A

Mr Edward Wilder

Chief Information Center

$136,839Pt VII · Sec A

Mr Eric Boynton’s $337K as President is at the 71st percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Dr H Scott Bierman	$191,338	$388,925	$384,015	$378,135	$378,235	$399,235
Mr Eric Boynton	$336,926	$275,045	$172,526	$169,526	$170,626	$103,503
Ms Stacie T Scott Treasvp	—	$200,495	—	—	—	—
Ms Cynthia McCown	—	—	—	—	—	$193,151
Ms Leslie Davidson	—	$133,124	$191,588	$179,716	$181,734	$103,541
Ms Amy Wilson	—	—	—	—	$183,435	$191,535
Mr Daniel Schooff	$185,426	$184,426	$64,596	$126,517	$126,617	$135,792
Dr Ken Yasukawa	—	—	—	—	—	$184,730

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students in liberal arts with rigorous, applied learning experiences.

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1 program · $72.5M · in their own filed words · FY2024

01

Academic and Student Program

Beloit college, a liberal arts college founded on the wisconsin frontier in 1846, was born out of a belief that a particular brand of education could energize and transform lives, and by extension, the world.

$72.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Rodgers Family Foundation INCFY2025$45K

The Stateline Community Foundation INCFY2025$7K

Total grants receivedfrom 2 funders$52K

Grants paid · 6 grants · $182.3M · 2019–2024

Unitemized GrantFY2024$33,672,722

Unitemized GrantFY2023$30,987,249

Unitemized GrantFY2022$32,024,035

Unitemized GrantFY2021$30,758,381

Unitemized GrantFY2020$25,862,910

Unitemized GrantFY2019$28,969,963

By the numbers

The FY2025 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$99.7M

Ln 12

Fees for servicesLn 2g$62.3M

Other incomeLn 4–11$16.7M

Gifts and grantsLn 1h$16.1M

Money outPt IX

$90.6M

Ln 25

Programscol B$72.5M

Managementcol C$15.9M

Fundraisingcol D$2.3M

Owns and owesPt X

$185.0M

net assets · Ln 32

Cash and savingsLn 1–2$7.2M

Total assetsLn 16$201.7M

LiabilitiesLn 26$16.6M

PeoplePt VI, VII

46

listed · VII A

PaidVII A17

Voting boardVI 1a29

IndependentVI 1b29

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$16.1M

Government grantsLn 1e$2.3M

Noncash giftsLn 1g$3.0M

Fees for servicesLn 2g$62.3M

Investment incomeLn 3$4.5M

Other incomeLn 4–11$16.7M

Gains on assetsLn 7$2.9M

Total revenueLn 12$99.7M

Assets in detailPt X, end of year

CashLn 1$88K

SavingsLn 2$7.1M

Cash and savings togetherLn 1–2$7.2M

InvestmentsLn 11–13$65.6M

Land, buildings, equipmentLn 10c$108.1M

Other assetsLn 15$4.4M

Total assetsLn 16$201.7M

LiabilitiesLn 26$16.6M

Net assetsLn 32$185.0M

OperationsPt I, VI

EmployeesI 51,019

VolunteersI 6144

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$7.2M	$7.2M
InvestmentsLn 11–13	$93.5M	$65.6M
Land, buildings, equipmentLn 10c	$66.5M	$108.1M
Total assetsLn 16	$209.6M	$201.7M
LiabilitiesLn 26	$31.2M	$16.6M
Net assetsLn 32	$178.4M	$185.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$33.7M	$33.7M
Grants and assistance to foreign recipientsLn 3	$5.7M	$5.7M
Pay of current officers, directors and key staffLn 5	$2.4M	$977K	$1.1M	$320K
Other salaries and wagesLn 7	$15.7M	$11.4M	$3.3M	$962K
Pension plan contributionsLn 8	$856K	$581K	$197K	$79K
Other employee benefitsLn 9	$3.2M	$2.3M	$724K	$154K
Payroll taxesLn 10	$1.4M	$913K	$393K	$98K
Management feesLn 11a	$192K		$192K
Legal feesLn 11b	$233K		$233K
Accounting feesLn 11c	$628K		$628K
Investment management feesLn 11f	$515K		$515K
Other fees for servicesLn 11g	$6.9M	$4.1M	$2.4M	$447K
Advertising and promotionLn 12	$144K	$100K	$44K	$200
Office expensesLn 13	$3.3M	$2.3M	$868K	$70K
Information technologyLn 14	$930K	$322K	$608K	$206
RoyaltiesLn 15	$2K	$2K
OccupancyLn 16	$1.6M	$3K	$1.6M
TravelLn 17	$1.5M	$1.4M	$81K	$85K
Conferences, conventions and meetingsLn 19	$211K	$194K	$10K	$7K
InterestLn 20	$555K	$216K	$339K
Depreciation, depletion and amortizationLn 22	$4.1M	$3.0M	$1.2M
InsuranceLn 23	$765K		$765K
Other expenses (24a–d)Ln 24	$4.4M	$3.6M	$781K	$41K
All other expensesLn 24e	$1.7M	$1.7M
Total functional expensesLn 25	$90.6M	$72.5M	$15.9M	$2.3M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$99.7M	$90.6M	$9.1M	$185.0M	990 PDF
FY2024	$82.4M	$85.9M	−$3.5M	$178.4M	990 PDF
FY2023	$79.2M	$84.8M	−$5.6M	$176.6M	990 PDF
FY2022	$86.2M	$84.0M	$2.2M	$177.5M	990 PDF
FY2021	$75.2M	$77.7M	−$2.5M	$185.7M	990 PDF
FY2020	$76.4M	$78.5M	−$2.1M	$179.5M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $99,721,912 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $19,199,889$16,103,792

I-9 Program service revenuePrior year $57,751,709$62,332,967

I-10 Investment incomePrior year $3,445,832$4,546,768

I-11 Other revenuePrior year $1,997,486$16,738,385

I-12 Total revenuePrior year $82,394,916$99,721,912

I-13 Grants and similar amounts paidPrior year $36,974,856$39,376,676

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $24,439,057$23,569,814

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $24,441,184$27,703,447

I-18 Total expensesPrior year $85,855,097$90,649,937

I-19 Revenue less expensesPrior year −$3,460,181$9,071,975

Part VI · Governance 29 of 29 board members independent, no flags

VI-1a Voting members of the governing body29

VI-1b Independent voting members29

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $99,721,912 across 9 lines filed

Lines not itemized here account for $2,363,816 of total revenue; see the IRS return.

VIII-1e Government grants$2,340,007

VIII-1f All other contributions, gifts and grants$13,763,785

VIII-1g Noncash contributions (included above)$3,019,850

VIII-1h Total contributions, gifts and grants$16,103,792

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $62,332,967$62,332,967

VIII-3 Investment incomeUnrelated business $13,173 · Excluded from tax $1,645,781$1,658,954

VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,887,814$2,887,814

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $14,374,569$14,374,569

VIII-12 Total revenueRelated to mission $62,332,967 · Unrelated business $39,867 · Excluded from tax $21,245,286$99,721,912

Part IX · Statement of functional expenses $90,649,937 across 24 lines filed

IX-2 Grants to domestic individualsPrograms $33,672,722$33,672,722

IX-3 Grants and assistance to foreign recipientsPrograms $5,703,954$5,703,954

IX-5 Pay of current officers, directors and key staffPrograms $976,903 · Management $1,066,345 · Fundraising $319,752$2,363,000

IX-7 Other salaries and wagesPrograms $11,426,392 · Management $3,336,423 · Fundraising $961,724$15,724,539

IX-8 Pension plan contributionsPrograms $580,632 · Management $196,606 · Fundraising $78,550$855,788

IX-9 Other employee benefitsPrograms $2,343,598 · Management $724,397 · Fundraising $154,298$3,222,293

IX-10 Payroll taxesPrograms $913,489 · Management $392,775 · Fundraising $97,930$1,404,194

IX-11a Management feesManagement $191,735$191,735

IX-11b Legal feesManagement $233,477$233,477

IX-11c Accounting feesManagement $628,131$628,131

IX-11f Investment management feesManagement $514,921$514,921

IX-11g Other fees for servicesPrograms $4,080,104 · Management $2,370,069 · Fundraising $446,502$6,896,675

IX-12 Advertising and promotionPrograms $100,239 · Management $43,848 · Fundraising $200$144,287

IX-13 Office expensesPrograms $2,343,309 · Management $867,899 · Fundraising $69,608$3,280,816

IX-14 Information technologyPrograms $322,052 · Management $608,119 · Fundraising $206$930,377

IX-15 RoyaltiesPrograms $2,000$2,000

IX-16 OccupancyPrograms $2,619 · Management $1,550,823$1,553,442

IX-17 TravelPrograms $1,359,722 · Management $80,775 · Fundraising $85,202$1,525,699

IX-19 Conferences, conventions and meetingsPrograms $194,373 · Management $9,767 · Fundraising $6,857$210,997

IX-20 InterestPrograms $216,330 · Management $338,949$555,279

IX-22 Depreciation, depletion and amortizationPrograms $2,993,563 · Management $1,151,877$4,145,440

IX-23 InsuranceManagement $765,319$765,319

IX-24 Other expenses (24a–d)Programs $3,616,932 · Management $780,532 · Fundraising $40,891$4,438,355

IX-24e All other expensesPrograms $1,686,497$1,686,497

IX-25 Total functional expensesPrograms $72,535,430 · Management $15,852,787 · Fundraising $2,261,720$90,649,937

Part X · Balance sheet $201,652,842 assets, 21 lines filed

Asset lines not itemized here account for $8,213,438; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $93,608$87,515

X-2 Savings and temporary cash investmentsStart of year $7,129,035$7,107,478

X-3 Pledges and grants receivableStart of year $1,467,687$4,288,169

X-4 Accounts receivableStart of year $6,563,693$3,085,035

X-8 Inventories for sale or useStart of year $7,949$7,254

X-9 Prepaid expenses and deferred chargesStart of year $769,192$763,133

X-10c Land, buildings and equipment, netStart of year $66,534,505$108,067,805

X-11 Publicly traded securitiesStart of year $80,346,677$52,608,554

X-12 Other securitiesStart of year $13,161,047$13,005,628

X-13 Program-related investmentsStart of year $16,300$16,300

X-15 Other assetsStart of year $15,574,441$4,402,533

X-16 Total assetsStart of year $209,597,704$201,652,842

X-17 Accounts payable and accrued expensesStart of year $3,169,384$1,689,810

X-19 Deferred revenueStart of year $1,146,268$574,813

X-20 Tax-exempt bond liabilitiesStart of year $627,510$623,342

X-25 Other liabilitiesStart of year $16,147,039$3,948,057

X-26 Total liabilitiesStart of year $31,227,852$16,634,708

X-27 Net assets without donor restrictionsStart of year $54,614,601$62,380,455

X-28 Net assets with donor restrictionsStart of year $123,755,251$122,637,679

X-32 Total net assets or fund balancesStart of year $178,369,852$185,018,134

X-33 Total liabilities and net assetsStart of year $209,597,704$201,652,842

Part XI · Reconciliation of net assets $185,018,134 net assets at year end

XI-1 Total revenue$99,721,912

XI-2 Total expenses$90,649,937

XI-3 Revenue less expenses$9,071,975

XI-4 Net assets at start of year$178,369,852

XI-5 Net unrealized gains (losses) on investments$3,967,284

XI-9 Other changes in net assets−$6,390,977

XI-10 Net assets at end of year$185,018,134

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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