Berea College FY2021 filing

Tax-deductible

Berea, KY501(c)(3)Since 1855Colleges & UniversitiesEIN 61-0444650Revenue $183.3M in FY2021

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

FY2021 · 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
9 mo
of spending, in cash
Looks good: 9.4 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
$125.7M
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
34
of 36 voting members
Looks good: 34 of 36 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$183.3M
-11% vs prior year
Spent
$140.5M
To programs
85%
Net assets
$1.9B
By yearFY2020–FY2025
Revenue
$183.3M
FY2021▼ -11%
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
$140.5M
FY2021▼ -2%
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
$1.9B
FY2021▲ +22%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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% · $118.9M Management & general 11% · $15.0M Fundraising 5% · $6.7M

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

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

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$383,677Pt VII · Sec A
Secretary/General Counsel
$247,674Pt VII · Sec A
VP for Alumni, Communications, and Philanthropy
$183,266Pt VII · Sec A
VP for Operations & Sustainability
$181,010Pt VII · Sec A
Vice President for Finance
$177,735Pt VII · Sec A
Chair of Nursing
$165,238Pt VII · Sec A
Dean of Faculty
$151,608Pt VII · Sec A
Assoc VP for Human Resources
$136,860Pt 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 · $86.3M · in their own filed words · FY2020
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.

$46.7Mprogram expense
02

Instruction

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

$27.9Mprogram expense
03

Student Services

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

$11.7Mprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$183.3M
Ln 12
Gifts and grantsLn 1h$100.4M
Investment incomeLn 3$67.1M
Fees for servicesLn 2g$14.3M
Money outPt IX
$140.5M
Ln 25
Programscol B$118.9M
Managementcol C$15.0M
Fundraisingcol D$6.7M
Owns and owesPt X
$1.9B
net assets · Ln 32
Cash and savingsLn 1–2$109.8M
Total assetsLn 16$2.0B
LiabilitiesLn 26$125.7M
PeoplePt VI, VII
53
listed · VII A
PaidVII A17
Voting boardVI 1a36
IndependentVI 1b34
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$100.4M
Government grantsLn 1e$53.7M
Noncash giftsLn 1g$790K
Fees for servicesLn 2g$14.3M
Investment incomeLn 3$67.1M
Other incomeLn 4–11$1.5M
Gains on assetsLn 7$50.2M
Total revenueLn 12$183.3M
Assets in detailPt X, end of year
SavingsLn 2$109.8M
Cash and savings togetherLn 1–2$109.8M
InvestmentsLn 11–13$1.65B
Land, buildings, equipmentLn 10c$194.9M
Other assetsLn 15$1.8M
Total assetsLn 16$2.0B
LiabilitiesLn 26$125.7M
Net assetsLn 32$1.9B
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 FY21End FY21
Cash and savingsLn 1–2$82.8M$109.8M
InvestmentsLn 11–13$1.28B$1.65B
Land, buildings, equipmentLn 10c$186.3M$194.9M
Total assetsLn 16$1.64B$2.04B
LiabilitiesLn 26$70.5M$125.7M
Net assetsLn 32$1.57B$1.92B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$741K$741K
Grants to domestic individualsLn 2$6.6M$6.6M
Pay of current officers, directors and key staffLn 5$2.3M$830K$1.3M$212K
Pay of disqualified personsLn 6$694K$460K$70K$165K
Other salaries and wagesLn 7$50.7M$41.3M$6.1M$3.3M
Pension plan contributionsLn 8$3.8M$2.9M$650K$250K
Other employee benefitsLn 9$5.8M$4.4M$1.0M$385K
Payroll taxesLn 10$3.9M$3.0M$672K$259K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$93K$93K
Lobbying feesLn 11d$15K$15K
Professional fundraising feesLn 11e$504K$504K
Investment management feesLn 11f$560K$560K
Other fees for servicesLn 11g$602K$439K$163K$0
Advertising and promotionLn 12$169K$65K$75K$30K
Office expensesLn 13$966K$753K$169K$45K
Information technologyLn 14$2.0M$31K$1.9M$29K
OccupancyLn 16$2.3M$2.1M$98K$39K
TravelLn 17$148K$90K$29K$28K
Conferences, conventions and meetingsLn 19$188K$160K$26K$2K
InterestLn 20$1.4M$1.2M$230K$13K
Depreciation, depletion and amortizationLn 22$10.2M$9.7M$358K$149K
InsuranceLn 23$558K$510K$33K$14K
Other expenses (24a–d)Ln 24$37.8M$37.0M$723K$118K
All other expensesLn 24e$8.5M$6.6M$756K$1.2M
Total functional expensesLn 25$140.5M$118.9M$15.0M$6.7M

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 Viewing $183.3M$140.5M$42.8M$1.9B 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $183,290,342 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $108,875,031$100,393,549
I-9 Program service revenuePrior year $18,105,058$14,270,123
I-10 Investment incomePrior year $73,646,124$67,124,670
I-11 Other revenuePrior year $4,575,874$1,502,000
I-12 Total revenuePrior year $205,202,087$183,290,342
I-13 Grants and similar amounts paidPrior year $6,959,915$7,364,057
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $64,754,551$67,209,134
I-16a Professional fundraising feesPrior year $496,661$503,932
I-17 Other expensesPrior year $70,523,018$65,460,673
I-18 Total expensesPrior year $142,734,145$140,537,796
I-19 Revenue less expensesPrior year $62,467,942$42,752,546
Part VI · Governance 34 of 36 board members independent, no flags
VI-1a Voting members of the governing body36
VI-1b Independent voting members34
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 $183,290,342 across 11 lines filed
Lines not itemized here account for $2,060,503 of total revenue; see the IRS return.
VIII-1e Government grants$53,652,195
VIII-1f All other contributions, gifts and grants$46,741,354
VIII-1g Noncash contributions (included above)$790,330
VIII-1h Total contributions, gifts and grants$100,393,549
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,568,035$12,568,035
VIII-3 Investment incomeUnrelated business $7,910 · Excluded from tax $16,923,855$16,931,765
VIII-5 RoyaltiesExcluded from tax $25,999$25,999
VIII-6 Net rental income or lossExcluded from tax $122,581$122,581
VIII-7 Net gain or loss on sales of assetsExcluded from tax $50,192,905$50,192,905
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $113,083 · Excluded from tax $881,922$995,005
VIII-12 Total revenueRelated to mission $14,184,054 · Unrelated business $272,508 · Excluded from tax $68,440,231$183,290,342
Part IX · Statement of functional expenses $140,537,796 across 25 lines filed
IX-1 Grants to domestic organizationsPrograms $740,604$740,604
IX-2 Grants to domestic individualsPrograms $6,623,453$6,623,453
IX-5 Pay of current officers, directors and key staffPrograms $830,438 · Management $1,269,891 · Fundraising $211,523$2,311,852
IX-6 Pay of disqualified personsPrograms $459,678 · Management $69,512 · Fundraising $164,593$693,783
IX-7 Other salaries and wagesPrograms $41,312,924 · Management $6,101,897 · Fundraising $3,275,578$50,690,399
IX-8 Pension plan contributionsPrograms $2,881,996 · Management $650,020 · Fundraising $250,301$3,782,317
IX-9 Other employee benefitsPrograms $4,434,711 · Management $1,000,228 · Fundraising $385,154$5,820,093
IX-10 Payroll taxesPrograms $2,979,812 · Management $672,082 · Fundraising $258,796$3,910,690
IX-11b Legal feesManagement $3,492$3,492
IX-11c Accounting feesManagement $93,400$93,400
IX-11d Lobbying feesPrograms $15,291$15,291
IX-11e Professional fundraising feesFundraising $503,932$503,932
IX-11f Investment management feesManagement $560,288$560,288
IX-11g Other fees for servicesPrograms $438,684 · Management $163,000 · Fundraising $0$601,684
IX-12 Advertising and promotionPrograms $64,749 · Management $74,525 · Fundraising $30,000$169,274
IX-13 Office expensesPrograms $752,712 · Management $168,846 · Fundraising $44,559$966,117
IX-14 Information technologyPrograms $31,182 · Management $1,919,363 · Fundraising $29,128$1,979,673
IX-16 OccupancyPrograms $2,148,294 · Management $97,501 · Fundraising $39,320$2,285,115
IX-17 TravelPrograms $90,173 · Management $29,364 · Fundraising $28,070$147,607
IX-19 Conferences, conventions and meetingsPrograms $159,667 · Management $26,276 · Fundraising $2,270$188,213
IX-20 InterestPrograms $1,160,431 · Management $229,862 · Fundraising $13,406$1,403,699
IX-22 Depreciation, depletion and amortizationPrograms $9,688,820 · Management $358,261 · Fundraising $148,553$10,195,634
IX-23 InsurancePrograms $510,390 · Management $33,468 · Fundraising $13,945$557,803
IX-24 Other expenses (24a–d)Programs $36,958,711 · Management $723,282 · Fundraising $117,896$37,799,889
IX-24e All other expensesPrograms $6,578,303 · Management $755,957 · Fundraising $1,159,234$8,493,494
IX-25 Total functional expensesPrograms $118,861,023 · Management $15,000,515 · Fundraising $6,676,258$140,537,796
Part X · Balance sheet $2,041,975,072 assets, 20 lines filed
Asset lines not itemized here account for $27,300,250; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $82,831,045$109,826,025
X-3 Pledges and grants receivableStart of year $52,985,275$56,183,391
X-4 Accounts receivableStart of year $1,352,491$907,309
X-8 Inventories for sale or useStart of year $1,084,675$1,063,147
X-9 Prepaid expenses and deferred chargesStart of year $2,799,675$4,301,132
X-10c Land, buildings and equipment, netStart of year $186,307,623$194,946,232
X-11 Publicly traded securitiesStart of year $1,118,772,300$1,412,781,700
X-12 Other securitiesStart of year $162,300,400$232,293,100
X-13 Program-related investmentsStart of year $876,051$617,256
X-15 Other assetsStart of year $704,065$1,755,530
X-16 Total assetsStart of year $1,637,313,850$2,041,975,072
X-17 Accounts payable and accrued expensesStart of year $15,475,259$19,752,048
X-19 Deferred revenueStart of year $252,692$4,133,135
X-20 Tax-exempt bond liabilitiesStart of year $31,919,675$80,602,049
X-25 Other liabilitiesStart of year $22,820,799$21,260,613
X-26 Total liabilitiesStart of year $70,468,425$125,747,845
X-27 Net assets without donor restrictionsStart of year $813,909,015$982,486,395
X-28 Net assets with donor restrictionsStart of year $752,936,410$933,740,832
X-32 Total net assets or fund balancesStart of year $1,566,845,425$1,916,227,227
X-33 Total liabilities and net assetsStart of year $1,637,313,850$2,041,975,072
Part XI · Reconciliation of net assets $1,916,227,227 net assets at year end
XI-1 Total revenue$183,290,342
XI-2 Total expenses$140,537,796
XI-3 Revenue less expenses$42,752,546
XI-4 Net assets at start of year$1,566,845,425
XI-5 Net unrealized gains (losses) on investments$299,398,665
XI-9 Other changes in net assets$7,230,591
XI-10 Net assets at end of year$1,916,227,227

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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