Bennett College EIN 56-0532296

Bennett College

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Prepares students personally, socially, and intellectually for a changing global society. For fiscal year 2024 it reported $14.5M in revenue, $15.9M in expenses, and $36.3M in net assets.Pt I

Founded
1889
Type
Higher education institution · Colleges & Universities
Location
Greensboro, NC
Website
www.bennett.edu
Filings
5 on file (2020–2024)
Revenue
$14.5MFY2024
Expenses
$15.9M
Net assets
$36.3M
People
26
Filings
5
Updates
0
More identity details & actions ⌄
EIN  56-0532296 Higher education institution Greensboro, NC Founded 1889
Form 990 (PDF)
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Figures match the IRS filing checked 7/18/26 · see original: IRS
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Size
$10–100M
What they do
Prepares students personally, socially, and intellectually for a changing global society.
Leadership
Suzanne E Walsh · President · $306K
Money in and out
$14.5M revenue, $15.9M expenses
Bottom line
-10% operating surplus
Financial scale & money flow · FY2024
Total revenue
$14.5M
Pt VIII · Ln 12
Total expenses
$15.9M
Pt IX · Ln 25
Net assets
$36.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.4M
Where spending went · Part IX cols B–D
Program services $0.48 Management & general $0.49 Fundraising $0.03
Operating surplus
-10%
revenue over expenses, this legal entity▼ -377% vs prior filing year
Payroll share
36%
of this entity's spending is salaries & benefits▲ +20% vs prior filing year
Program spending
48%
of expenses reach program services▼ -4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$14.5M
FY2024▼ -13%
Expenses
$15.9M
FY2024▼ -0.8%
Total assets
$46.0M
FY2024▲ +1%
Total liabilities
$9.7M
FY2024▲ +20%
Total revenue
$14.5M
Pt VIII · Ln 12
Total expenses
$15.9M
Pt IX · Ln 25
Net assets
$36.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.4M
Total assetsPt X · Ln 16$46.0M
Program-expense ratioPt IX · col B48%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 418
Mission & Programs · Part III

Where the work happens

2 program services account for $7.7M of program spending, described in the organization's own filed words · FY2024.
01

To sustain a learning community in which students can prepare academically, socially, and spiritually for leadership in a complex, diverse, and rapidly changing world. A total of 353 students were enrolled during the fall and spring semesters.

$6.5Mprogram expense
02

Auxiliary enterprise supports the college's mission of providing quality educational opportunities. These services include, but are not limited to, food services, campus housing, postal services, parking, vending, campus stores and athletics.

$1.1Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBennett College
EINHdr · item D56-0532296
Principal addressHdr · item CGreensboro, NC
WebsiteHdr · item Jwww.bennett.edu
Year of formationHdr · item L1889
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B420)
Ruling yearIRS BMFJul 1977

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a18
Independent voting membersPt VI · Ln 1b18
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$305,820Pt VII · Sec A
CFO and Vice President of Business
$140,581Pt VII · Sec A
Vice President, Institutio
$135,530Pt VII · Sec A
Assistant Vice President, Enrollment
$130,987Pt VII · Sec A
Exeutive Director, Campus Safety and Health
$118,139Pt VII · Sec A
Associate Professor, Psychology
$109,578Pt VII · Sec A
Vice President, Enrollement
$95,517Pt VII · Sec A
Vice President, Academic Affairs
$45,345Pt VII · Sec A

Suzanne E Walsh’s $306K as President is at the 66th percentile of top reported officer pay among 3682 $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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Suzanne E Walsh$305,820$298,020
Dr Suzanne E Walsh Jd$297,885$299,250$285,000
Dr Suzanne Walsh$221,434
Mr Greg Hodges$189,915$26,438
Ms Bonita Sherrod$168,000
Mr James Hastings$142,154
Elizabeth Waugh$140,581$126,629
Ms Bonita Sherrod$137,702

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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Statement of Revenue

Part VIII
Contributions & grants$8.7M · 60%
Program service revenue$4.0M · 27%
Investment income$1.7M · 12%
Other revenue$126K · 1%
Contributions & grants60%$8.7M
Program service revenue27%$4.0M
Investment income12%$1.7M
Other revenue1%$126K
— government grantsLn 1e$6.1M
Total revenueLn 12$14.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.48 Management & general $0.49 Fundraising $0.03
Program services48%$7.7M
Management & general49%$7.7M
Fundraising3%$506K
Total functional expensesLn 25$15.9M

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$46.0M
Total liabilitiesLn 26$9.7M
Total net assetsLn 32$36.3M
Months of cash on handcomputed0.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $18.1M · Operating expenses/yr $15.9M
13.7 months
Where the money goes
Program services
Program services $7.7M · Total expenses $15.9M
48%
Management & General
Management & general $7.7M · Total expenses $15.9M
49%
Fundraising
Fundraising $506K · Total expenses $15.9M
3%
Cost to raise $1
Fundraising expense (3-yr avg) $506K · Solicited contributions (3-yr avg) $3.0M
$0.17 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $8.7M · Total revenue $14.5M
60%
Government reliance
Government grants $6.1M · Total revenue $14.5M
42%
Earned-income share
Program service revenue $4.0M · Total revenue $14.5M
27%
Investment reliance
Investment income $1.7M · Total revenue $14.5M
+12%
Program self-sufficiency
Program service revenue $4.0M · Total expenses $15.9M
25%
Growth & trend
Revenue growth (YoY)
This year $14.5M · Prior year $16.6M
-13%
Revenue CAGR
FY2019 $15.3M · FY2024 $14.5M
-1%
Net-asset trend (YoY)
End of year $36.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $14.5M · Expenses $15.9M
-10%
Liabilities-to-Assets
Total liabilities — · Total assets $46.0M
Net-asset ratio
Net assets $36.3M · Total assets $46.0M
79%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $16.9M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $46.0M
37%
People & payroll
Highest Reported Total Compensation
Individual Suzanne E Walsh · Reported title PRESIDENT · Highest reported compensation $306K · Total expenses $15.9M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $5.8M · Total expenses $15.9M
36%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 48%
Overhead ratio 49%
Fundraising cost ratio 6%
Revenue growth -13%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 15 funders →
Grants paid · 16 grants · $17.1M · 2019–2024
Unitemized GrantFY2024$1,208,811
Unitemized GrantFY2024$987,451
Unitemized GrantFY2024$245,705
Unitemized GrantFY2023$1,288,575
Unitemized GrantFY2023$1,033,426
Unitemized GrantFY2023$319,860
Unitemized GrantFY2022$1,359,887
Unitemized GrantFY2022$822,940
Unitemized GrantFY2022$292,750
Unitemized GrantFY2021$2,346,425
Unitemized GrantFY2021$931,414
Unitemized GrantFY2021$379,900
Unitemized GrantFY2020$1,726,768
Unitemized GrantFY2020$931,414
Unitemized GrantFY2020$413,140
Unitemized GrantFY2019$2,765,687

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$16.6M revenue · ⤓ 990 PDF
FY2023$16.8M revenue · ⤓ 990 PDF
FY2022$19.7M revenue · ⤓ 990 PDF
FY2021$40.4M revenue · ⤓ 990 PDF
FY2020$15.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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