Berea College FY2020 filing

Tax-deductible

Berea, KY501(c)(3)Since 1855Colleges & UniversitiesEIN 61-0444650Revenue $205.2M in FY2020

On file with the IRSberea.eduCpo 2214, 40404-0001 · Berea, KYTax-exempt since Feb 1953School — 170(b)(1)(A)(ii)

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Berea transforms the lives of students and families by admitting students of high promise and low means. Core to its mission of transforming lives and circumstances, Berea College covers all costs beyond what the student aid index in the fafsa specifies are the responsibility of the student and family. Furthermore, IT covers these costs without packaging loans, which is why Berea students have the lowest educational debt in the country.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$2.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $52.7M a year · 28% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
16
named funders · $499K
Looks good: 16 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$70.5M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 34 voting members
Looks good: 31 of 34 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$205.2M
Spent
$142.7M
To programs
85%
Net assets
$1.6B
By yearFY2020–FY2025
Revenue
$205.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$205.2M
FY2021$183.3M
FY2022$243.1M
FY2023$157.5M
FY2024$139.3M
FY2025$212.3M
Expenses
$142.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$142.7M
FY2021$140.5M
FY2022$155.5M
FY2023$134.1M
FY2024$121.4M
FY2025$129.9M
Net assets
$1.6B
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6B
FY2021$1.9B
FY2022$1.8B
FY2023$1.9B
FY2024$2.0B
FY2025$2.2B

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1953.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $121.6M Management & general 10% · $14.7M Fundraising 4% · $6.4M

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

51 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$366,478Pt VII · Sec A
Secretary/General Counsel
$247,739Pt VII · Sec A
Vice President for Alumni and College Relations
$185,054Pt VII · Sec A
VP for Operations & Sustainability
$175,311Pt VII · Sec A
Vice President for Finance
$172,240Pt VII · Sec A
Vice President for Alumni and College Relations
$160,929Pt VII · Sec A
Chief Information Officer
$148,758Pt VII · Sec A
Former VP for Labor and Student Life
$148,368Pt VII · Sec A

Nixon Cheryl L’s $431K as President is at the 29th percentile of top reported officer pay among 674 $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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Roelofs Lyle D$280,626$497,421$487,772$421,594$383,677$366,478
Nixon Cheryl L$430,956—————
Berry Chad$288,204$251,979$202,490$187,018$183,266$185,054
Wilson II Judge B$286,989$274,325$261,237$252,919$247,674$247,739
Nixon Cheryl L Started July 2023—$236,227————
Amburgey Jeffrey S$220,187$201,571$190,341$180,470$177,735$172,240
Steele Scott$207,317$193,185$178,414$175,523$134,703—
Singleton Derrick$205,869$196,665$188,434$180,792$181,010$175,311

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

Provides tuition-free higher education, residential housing, and dining services to high-achieving students with limited financial resources.

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Provided by the organization

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3 programs · $89.2M · in their own filed words · FY2019
01

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. Four such initiatives-Partners for Education, Grow Appalachia, Brushy Fork Leadership Institute, and the Appalachian Fund-exist primarily on external funds.

$49.5Mprogram expense
02

Instruction

Expenditures of academic departments and other instruction activities benefiting approximately 1,600 students.

$27.4Mprogram expense
03

Student Services

Student support services such as admissions, student life, health services, labor program, and financial aid.

$12.3Mprogram 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
See all 16 funders →
Grants paid · 283 grants · $38.9M · 2019–2024
Unitemized GrantFY2024$4,134,141
Step by Step INCWV · FY2024$49,594
Scott Christian Care CenterTN · FY2024$42,169
Red Bird Mission INCKY · FY2024$32,000
Virginia Tech Foundation INCVA · FY2024$29,033
Owsley County Board of EducationFY2024$28,897
Red Bird Clinc INCKY · FY2024$26,000
Hospice of the Bluegrass INCKY · FY2024$22,500
Saint Vincent Mission INCKY · FY2024$21,296
Community Shares INCTN · FY2024$20,000
See all 283 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$205.2M
Ln 12
Gifts and grantsLn 1h$108.9M
Investment incomeLn 3$73.6M
Fees for servicesLn 2g$18.1M
Money outPt IX
$142.7M
Ln 25
Programscol B$121.6M
Managementcol C$14.7M
Fundraisingcol D$6.4M
Owns and owesPt X
$1.6B
net assets · Ln 32
Cash and savingsLn 1–2$82.8M
Total assetsLn 16$1.6B
LiabilitiesLn 26$70.5M
PeoplePt VI, VII
51
listed · VII A
PaidVII A18
Voting boardVI 1a34
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$108.9M
Government grantsLn 1e$57.5M
Noncash giftsLn 1g$3.2M
Fees for servicesLn 2g$18.1M
Investment incomeLn 3$73.6M
Other incomeLn 4–11$4.6M
Gains on assetsLn 7$48.7M
Total revenueLn 12$205.2M
Assets in detailPt X, end of year
SavingsLn 2$82.8M
Cash and savings togetherLn 1–2$82.8M
InvestmentsLn 11–13$1.28B
Land, buildings, equipmentLn 10c$186.3M
Other assetsLn 15$704K
Total assetsLn 16$1.6B
LiabilitiesLn 26$70.5M
Net assetsLn 32$1.6B
OperationsPt I, VI
EmployeesI 5807
VolunteersI 6156
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
LineStart FY20End FY20
Cash and savingsLn 1–2$76.9M$82.8M
InvestmentsLn 11–13$1.28B$1.28B
Land, buildings, equipmentLn 10c$185.3M$186.3M
Total assetsLn 16$1.62B$1.64B
LiabilitiesLn 26$72.2M$70.5M
Net assetsLn 32$1.54B$1.57B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$694K$694K
Grants to domestic individualsLn 2$6.3M$6.3M
Pay of current officers, directors and key staffLn 5$2.2M$662K$1.3M$291K
Pay of disqualified personsLn 6$686K$457K$69K$160K
Other salaries and wagesLn 7$50.6M$41.0M$6.1M$3.5M
Pension plan contributionsLn 8$3.1M$2.6M$310K$219K
Other employee benefitsLn 9$4.8M$4.0M$476K$337K
Payroll taxesLn 10$3.2M$2.7M$320K$226K
Legal feesLn 11b$86K$86K
Accounting feesLn 11c$113K$113K
Lobbying feesLn 11d$16K$16K
Professional fundraising feesLn 11e$497K$497K
Investment management feesLn 11f$558K$558K
Other fees for servicesLn 11g$505K$342K$163K$0
Advertising and promotionLn 12$162K$118K$44K
Office expensesLn 13$1.1M$850K$218K$57K
Information technologyLn 14$2.2M$120K$2.1M
OccupancyLn 16$2.0M$1.8M$119K$48K
TravelLn 17$773K$568K$136K$69K
Conferences, conventions and meetingsLn 19$512K$409K$90K$14K
InterestLn 20$909K$736K$170K$3K
Depreciation, depletion and amortizationLn 22$9.6M$9.1M$351K$150K
InsuranceLn 23$603K$551K$36K$15K
Other expenses (24a–d)Ln 24$42.8M$42.5M$230K$83K
All other expensesLn 24e$8.5M$6.1M$1.8M$686K
Total functional expensesLn 25$142.7M$121.6M$14.7M$6.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $212.3M$129.9M$82.4M$2.2B 990 PDF
FY2024 $139.3M$121.4M$17.8M$2.0B 990 PDF
FY2023 $157.5M$134.1M$23.4M$1.9B 990 PDF
FY2022 $243.1M$155.5M$87.6M$1.8B 990 PDF
FY2021 $183.3M$140.5M$42.8M$1.9B 990 PDF
FY2020 Viewing $205.2M$142.7M$62.5M$1.6B 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 FY2020 990 (6 parts)
Part I · Summary $205,202,087 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $88,443,258$108,875,031
I-9 Program service revenuePrior year $20,491,873$18,105,058
I-10 Investment incomePrior year $140,586,963$73,646,124
I-11 Other revenuePrior year $1,258,433$4,575,874
I-12 Total revenuePrior year $250,780,527$205,202,087
I-13 Grants and similar amounts paidPrior year $3,701,092$6,959,915
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $61,180,473$64,754,551
I-16a Professional fundraising feesPrior year $537,546$496,661
I-17 Other expensesPrior year $67,075,160$70,523,018
I-18 Total expensesPrior year $132,494,271$142,734,145
I-19 Revenue less expensesPrior year $118,286,256$62,467,942
Part VI · Governance 31 of 34 board members independent, no flags
VI-1a Voting members of the governing body34
VI-1b Independent voting members31
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 $205,202,087 across 11 lines filed
Lines not itemized here account for $2,230,372 of total revenue; see the IRS return.
VIII-1e Government grants$57,518,226
VIII-1f All other contributions, gifts and grants$51,356,805
VIII-1g Noncash contributions (included above)$3,247,558
VIII-1h Total contributions, gifts and grants$108,875,031
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,150,313$16,150,313
VIII-3 Investment incomeUnrelated business −$305,667 · Excluded from tax $25,291,638$24,985,971
VIII-5 RoyaltiesExcluded from tax $27,273$27,273
VIII-6 Net rental income or lossExcluded from tax $101,746$101,746
VIII-7 Net gain or loss on sales of assetsExcluded from tax $48,660,153$48,660,153
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,242,448 · Excluded from tax $928,780$4,171,228
VIII-12 Total revenueRelated to mission $21,528,493 · Unrelated business −$17,959 · Excluded from tax $74,816,522$205,202,087
Part IX · Statement of functional expenses $142,734,145 across 25 lines filed
IX-1 Grants to domestic organizationsPrograms $693,823$693,823
IX-2 Grants to domestic individualsPrograms $6,266,092$6,266,092
IX-5 Pay of current officers, directors and key staffPrograms $661,741 · Management $1,261,525 · Fundraising $291,219$2,214,485
IX-6 Pay of disqualified personsPrograms $457,371 · Management $68,898 · Fundraising $159,607$685,876
IX-7 Other salaries and wagesPrograms $40,981,119 · Management $6,094,204 · Fundraising $3,549,675$50,624,998
IX-8 Pension plan contributionsPrograms $2,614,596 · Management $309,621 · Fundraising $218,834$3,143,051
IX-9 Other employee benefitsPrograms $4,023,246 · Management $476,433 · Fundraising $336,734$4,836,413
IX-10 Payroll taxesPrograms $2,703,338 · Management $320,129 · Fundraising $226,261$3,249,728
IX-11b Legal feesManagement $86,102$86,102
IX-11c Accounting feesManagement $113,450$113,450
IX-11d Lobbying feesPrograms $16,122$16,122
IX-11e Professional fundraising feesFundraising $496,661$496,661
IX-11f Investment management feesManagement $558,015$558,015
IX-11g Other fees for servicesPrograms $342,272 · Management $163,000 · Fundraising $0$505,272
IX-12 Advertising and promotionPrograms $118,165 · Management $43,857$162,022
IX-13 Office expensesPrograms $850,184 · Management $218,371 · Fundraising $57,125$1,125,680
IX-14 Information technologyPrograms $120,314 · Management $2,096,894$2,217,208
IX-16 OccupancyPrograms $1,829,722 · Management $118,766 · Fundraising $48,113$1,996,601
IX-17 TravelPrograms $567,785 · Management $136,265 · Fundraising $69,017$773,067
IX-19 Conferences, conventions and meetingsPrograms $408,575 · Management $89,549 · Fundraising $14,177$512,301
IX-20 InterestPrograms $736,022 · Management $170,011 · Fundraising $2,594$908,627
IX-22 Depreciation, depletion and amortizationPrograms $9,096,883 · Management $350,605 · Fundraising $149,886$9,597,374
IX-23 InsurancePrograms $551,462 · Management $36,161 · Fundraising $15,068$602,691
IX-24 Other expenses (24a–d)Programs $42,488,918 · Management $229,840 · Fundraising $83,010$42,801,768
IX-24e All other expensesPrograms $6,060,987 · Management $1,799,635 · Fundraising $686,096$8,546,718
IX-25 Total functional expensesPrograms $121,588,737 · Management $14,741,331 · Fundraising $6,404,077$142,734,145
Part X · Balance sheet $1,637,313,850 assets, 20 lines filed
X-2 Savings and temporary cash investmentsStart of year $76,893,484$82,831,045
X-3 Pledges and grants receivableStart of year $67,777,891$80,285,525
X-4 Accounts receivableStart of year $1,582,513$1,352,491
X-8 Inventories for sale or useStart of year $1,167,028$1,084,675
X-9 Prepaid expenses and deferred chargesStart of year $1,793,698$2,799,675
X-10c Land, buildings and equipment, netStart of year $185,298,485$186,307,623
X-11 Publicly traded securitiesStart of year $1,023,643,600$1,118,772,300
X-12 Other securitiesStart of year $256,250,300$162,300,400
X-13 Program-related investmentsStart of year $983,068$876,051
X-15 Other assetsStart of year $911,614$704,065
X-16 Total assetsStart of year $1,616,301,681$1,637,313,850
X-17 Accounts payable and accrued expensesStart of year $17,101,746$15,475,259
X-19 Deferred revenueStart of year $191,777$252,692
X-20 Tax-exempt bond liabilitiesStart of year $34,895,003$31,919,675
X-25 Other liabilitiesStart of year $19,983,770$22,820,799
X-26 Total liabilitiesStart of year $72,172,296$70,468,425
X-27 Net assets without donor restrictionsStart of year $786,668,125$813,909,015
X-28 Net assets with donor restrictionsStart of year $757,461,260$752,936,410
X-32 Total net assets or fund balancesStart of year $1,544,129,385$1,566,845,425
X-33 Total liabilities and net assetsStart of year $1,616,301,681$1,637,313,850
Part XI · Reconciliation of net assets $1,566,845,425 net assets at year end
XI-1 Total revenue$205,202,087
XI-2 Total expenses$142,734,145
XI-3 Revenue less expenses$62,467,942
XI-4 Net assets at start of year$1,544,129,385
XI-5 Net unrealized gains (losses) on investments−$36,431,583
XI-9 Other changes in net assets−$3,320,319
XI-10 Net assets at end of year$1,566,845,425

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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