Bellin College INC: Nonprofit Profile, Financials & Form 990 (EIN 39-1620530)

Revenue by fiscal year
FY2020	$14.5M
FY2021	$15.2M
FY2022	$20.3M
FY2023	$17.1M
FY2024	$17.4M
FY2025	$19.1M

Expenses by fiscal year
FY2020	$14.4M
FY2021	$15.1M
FY2022	$16.0M
FY2023	$17.2M
FY2024	$18.6M
FY2025	$19.6M

Net assets by fiscal year
FY2020	$32.9M
FY2021	$35.7M
FY2022	$35.4M
FY2023	$36.6M
FY2024	$36.4M
FY2025	$37.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1990.

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

Where the money goes

81 cents of each dollar spent went to programs.

81%

18%

Program services 81% · $16.0M Management & general 18% · $3.5M Fundraising 1% · $179K

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

26 people listed on the 990; $1.1M 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

Dr Connie J Boerst

President/CEO

$264,223Pt VII · Sec A

Eric Chaconas

Associate Dean of Physical Therapy

$166,492Pt VII · Sec A

Mark Bake

Chief Academic Officer

$162,427Pt VII · Sec A

Mark Shepherd

Program Director-Ortho Manual Pt

$135,616Pt VII · Sec A

Casey Rentmeester

Associate Dean of Academic Success

$128,454Pt VII · Sec A

Amanda Hogan

Associate Dean of Undergraduate Allied Health Scie

$125,862Pt VII · Sec A

Ginger Krummen Schraven

VP of Business and Finance

$108,126Pt VII · Sec A

Karen Brukardt

Board Member

$0Pt VII · Sec A

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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Dr Connie J Boerst	$264,223	$283,111	$250,639	$231,923	$220,334	$213,020
Eric Chaconas	$166,492	—	—	$133,286	—	—
Mark Bake	$162,427	—	—	$116,941	$124,823	$112,374
Mark a Bake	—	$147,842	$126,677	—	—	—
Eric J Chaconas	—	$144,543	$137,410	—	$133,798	—
Lori Kulju	—	$135,949	—	$119,049	$110,817	$115,719
Mark Shepherd	$135,616	—	—	$118,380	—	—
Mark H Shepherd	—	$129,261	$120,701	—	—	—

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 select health science degrees like nursing and sonography.

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1 program · $16.0M · in their own filed words · FY2024

01

Bellin college, inc. Is dedicated to educating and graduating healthcare professionals. The college is an independent, accredited, coeducational baccalaureate, masters, and doctorate degree granting institution.

$16.0Mprogram 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 · FY2024

Richard J Resch Foundation LtdFY2024$500K

Community Foundation for the Fox Valley Region INCFY2024$100K

Greater Green Bay Community Foundation INCFY2024$72K

Fidelity Investments Charitable Gift FundFY2024$55K

The Bellin Health Foundation INCFY2024$50K

Schneider National Foundation INCFY2024$50K

The Community Foundation of Western North Carolina INCFY2024$50K

Rad-Aid International INCFY2024$16K

Total grants receivedfrom 18 funders$932K

See all 18 funders →

Grants paid · 9 grants · $17.6M · 2019–2024

Unitemized GrantFY2024$3,062,489

Unitemized GrantFY2023$2,481,456

Unitemized GrantFY2022$2,588,186

Unitemized GrantFY2021$2,765,924

Unitemized GrantFY2021$383,584

Unitemized GrantFY2020$3,016,138

Unitemized GrantFY2020$128,466

Unitemized GrantFY2019$3,046,029

Unitemized GrantFY2019$89,875

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$19.1M

Ln 12

Fees for servicesLn 2g$16.0M

Investment incomeLn 3$1.7M

Gifts and grantsLn 1h$1.3M

Money outPt IX

$19.6M

Ln 25

Programscol B$16.0M

Managementcol C$3.5M

Fundraisingcol D$179K

Owns and owesPt X

$37.4M

net assets · Ln 32

Cash and savingsLn 1–2$2.5M

Total assetsLn 16$54.4M

LiabilitiesLn 26$17.0M

PeoplePt VI, VII

26

listed · VII A

PaidVII A7

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.3M

Noncash giftsLn 1g$16K

Fundraising eventsLn 1c$57K

Fees for servicesLn 2g$16.0M

Investment incomeLn 3$1.7M

Other incomeLn 4–11$346

Gains on assetsLn 7$758K

Total revenueLn 12$19.1M

Assets in detailPt X, end of year

CashLn 1$19K

SavingsLn 2$2.5M

Cash and savings togetherLn 1–2$2.5M

InvestmentsLn 11–13$33.8M

Land, buildings, equipmentLn 10c$13.1M

Other assetsLn 15$92K

Total assetsLn 16$54.4M

LiabilitiesLn 26$17.0M

Net assetsLn 32$37.4M

OperationsPt I, VI

EmployeesI 5188

VolunteersI 616

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	$3.4M	$2.5M
InvestmentsLn 11–13	$30.5M	$33.8M
Land, buildings, equipmentLn 10c	$13.8M	$13.1M
Total assetsLn 16	$53.4M	$54.4M
LiabilitiesLn 26	$17.0M	$17.0M
Net assetsLn 32	$36.4M	$37.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$3.1M	$3.1M
Pay of current officers, directors and key staffLn 5	$439K		$439K
Other salaries and wagesLn 7	$8.9M	$7.8M	$1.0M	$108K
Pension plan contributionsLn 8	$461K	$403K	$52K	$6K
Other employee benefitsLn 9	$1.1M	$931K	$146K	$15K
Payroll taxesLn 10	$650K	$538K	$103K	$9K
Legal feesLn 11b	$5K		$5K
Accounting feesLn 11c	$86K		$86K
Investment management feesLn 11f	$104K		$104K
Other fees for servicesLn 11g	$604K	$393K	$211K
Advertising and promotionLn 12	$553K		$553K
Office expensesLn 13	$1.1M	$992K	$118K	$20K
Information technologyLn 14	$390K	$13K	$377K
OccupancyLn 16	$190K	$190K
TravelLn 17	$128K	$117K	$9K	$2K
Conferences, conventions and meetingsLn 19	$67K	$30K	$17K	$19K
InterestLn 20	$140K		$140K
Depreciation, depletion and amortizationLn 22	$1.3M	$1.3M
InsuranceLn 23	$41K	$984	$40K
Other expenses (24a–d)Ln 24	$171K	$101K	$71K
All other expensesLn 24e	$162K	$162K
Total functional expensesLn 25	$19.6M	$16.0M	$3.5M	$179K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$19.1M	$19.6M	−$575K	$37.4M	990 PDF
FY2024	$17.4M	$18.6M	−$1.2M	$36.4M	990 PDF
FY2023	$17.1M	$17.2M	−$88K	$36.6M	990 PDF
FY2022	$20.3M	$16.0M	$4.3M	$35.4M	990 PDF
FY2021	$15.2M	$15.1M	$48K	$35.7M	990 PDF
FY2020	$14.5M	$14.4M	$43K	$32.9M	990 PDF

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Schedules filed Part IV

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

See the full FY2025 990 (6 parts)

Part I · Summary $19,063,711 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,738,480$1,331,969

I-9 Program service revenuePrior year $13,462,994$16,027,103

I-10 Investment incomePrior year $2,163,919$1,704,293

I-11 Other revenuePrior year $31,506$346

I-12 Total revenuePrior year $17,396,899$19,063,711

I-13 Grants and similar amounts paidPrior year $2,481,456$3,062,489

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

I-15 Salaries and benefitsPrior year $10,985,454$11,533,371

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

I-17 Other expensesPrior year $5,085,724$5,042,504

I-18 Total expensesPrior year $18,552,634$19,638,364

I-19 Revenue less expensesPrior year −$1,155,735−$574,653

Part VI · Governance 14 of 14 board members independent, no flags

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

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 $19,063,711 across 11 lines filed

Lines not itemized here account for $152,345 of total revenue; see the IRS return.

VIII-1c Fundraising events$57,079

VIII-1d Related organizations$61,024

VIII-1f All other contributions, gifts and grants$1,213,866

VIII-1g Noncash contributions (included above)$16,337

VIII-1h Total contributions, gifts and grants$1,331,969

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,431,676 · Excluded from tax $443,082$15,874,758

VIII-3 Investment incomeExcluded from tax $946,612$946,612

VIII-6 Net rental income or lossExcluded from tax $346$346

VIII-7 Net gain or loss on sales of assetsExcluded from tax $757,681$757,681

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $15,431,676 · Unrelated business $0 · Excluded from tax $2,300,066$19,063,711

Part IX · Statement of functional expenses $19,638,364 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $3,062,489$3,062,489

IX-5 Pay of current officers, directors and key staffManagement $439,265$439,265

IX-7 Other salaries and wagesPrograms $7,780,617 · Management $1,002,818 · Fundraising $108,187$8,891,622

IX-8 Pension plan contributionsPrograms $402,735 · Management $52,059 · Fundraising $6,419$461,213

IX-9 Other employee benefitsPrograms $931,037 · Management $145,681 · Fundraising $14,839$1,091,557

IX-10 Payroll taxesPrograms $538,148 · Management $102,989 · Fundraising $8,577$649,714

IX-11b Legal feesManagement $4,812$4,812

IX-11c Accounting feesManagement $86,449$86,449

IX-11f Investment management feesManagement $104,005$104,005

IX-11g Other fees for servicesPrograms $392,750 · Management $210,982$603,732

IX-12 Advertising and promotionManagement $553,419$553,419

IX-13 Office expensesPrograms $991,740 · Management $117,668 · Fundraising $19,731$1,129,139

IX-14 Information technologyPrograms $13,258 · Management $376,762$390,020

IX-16 OccupancyPrograms $190,296$190,296

IX-17 TravelPrograms $116,934 · Management $9,496 · Fundraising $1,766$128,196

IX-19 Conferences, conventions and meetingsPrograms $30,314 · Management $17,254 · Fundraising $19,372$66,940

IX-20 InterestManagement $139,594$139,594

IX-22 Depreciation, depletion and amortizationPrograms $1,271,177$1,271,177

IX-23 InsurancePrograms $984 · Management $40,018$41,002

IX-24 Other expenses (24a–d)Programs $100,750 · Management $70,747$171,497

IX-24e All other expensesPrograms $162,226$162,226

IX-25 Total functional expensesPrograms $15,985,455 · Management $3,474,018 · Fundraising $178,891$19,638,364

Part X · Balance sheet $54,420,112 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $21,100$19,352

X-2 Savings and temporary cash investmentsStart of year $3,392,192$2,516,249

X-3 Pledges and grants receivableStart of year $5,031,017$4,151,422

X-4 Accounts receivableStart of year $117,233$129,428

X-9 Prepaid expenses and deferred chargesStart of year $466,781$611,095

X-10c Land, buildings and equipment, netStart of year $13,806,258$13,125,962

X-11 Publicly traded securitiesStart of year $30,533,284$33,774,648

X-15 Other assetsStart of year $69,598$91,956

X-16 Total assetsStart of year $53,437,463$54,420,112

X-17 Accounts payable and accrued expensesStart of year $1,295,589$1,366,865

X-19 Deferred revenueStart of year $878,217$1,250,323

X-20 Tax-exempt bond liabilitiesStart of year $4,826,376$4,275,116

X-25 Other liabilitiesStart of year $10,035,234$10,103,464

X-26 Total liabilitiesStart of year $17,035,416$16,995,768

X-27 Net assets without donor restrictionsStart of year $13,240,510$13,724,823

X-28 Net assets with donor restrictionsStart of year $23,161,537$23,699,521

X-32 Total net assets or fund balancesStart of year $36,402,047$37,424,344

X-33 Total liabilities and net assetsStart of year $53,437,463$54,420,112

Part XI · Reconciliation of net assets $37,424,344 net assets at year end

XI-1 Total revenue$19,063,711

XI-2 Total expenses$19,638,364

XI-3 Revenue less expenses−$574,653

XI-4 Net assets at start of year$36,402,047

XI-5 Net unrealized gains (losses) on investments$1,596,950

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$37,424,344

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

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