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.
$2.8M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990-TIndependent: 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-T
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
$2.8M
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
10 mo
of spending, in cash
Plus $1.46B in investments, Pt X · Ln 11–13
Looks good: 9.5 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
$116.6M
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
32
of 34 voting members
Looks good: 32 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
$243.1M
+33% vs prior year
Spent
$155.5M
To programs
85%
Net assets
$1.8B
By yearFY2020–FY2025
Revenue
$243.1M
FY2022▲ +33%
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
$155.5M
FY2022▲ +11%
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
$1.8B
FY2022▼ -9%
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 FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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% · $131.9M Management & general 11% · $16.5M Fundraising 5% · $7.2M

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-T; $2.8M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$421,594Pt VII · Sec A
Secretary/General Counsel
$252,919Pt VII · Sec A
VP for Alumni, Communications, and Philanthropy
$187,018Pt VII · Sec A
VP for Operations & Sustainability
$180,792Pt VII · Sec A
Vice President for Finance
$180,470Pt VII · Sec A
Chair of Nursing
$179,361Pt VII · Sec A
$175,523Pt VII · Sec A
Dean of Faculty
$154,259Pt 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 · $94.0M · in their own filed words · FY2021
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.

$49.3Mprogram expense
02

Instruction

Expenditures of academic departments and other instruction activities benefiting approximately 1,500 students.

$30.4Mprogram expense
03

Student Services

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

$14.3Mprogram 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 FY2022 990-T, line by line.

1The main four
Money in
$243.1M
Gifts and grants$119.8M
Investment income$99.9M
Fees for services$21.7M
Money out
$155.5M
Programs$131.9M
Management$16.5M
Fundraising$7.2M
Owns and owes
$1.8B
net assets
Cash and savings$123.1M
Total assets$1.9B
Liabilities$116.6M
People
51
listed
Paid17
Voting board34
Independent32
2In more detail
Revenue in detail
Gifts and grants$119.8M
Government grants$54.6M
Fees for services$21.7M
Investment income$99.9M
Other income$1.7M
Total revenue$243.1M
Assets in detailEnd of year
Cash and savings together$123.1M
Total assets$1.9B
Liabilities$116.6M
Net assets$1.8B
Operations
Employees807
Volunteers156
Fiscal year endsJune
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

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 Viewing $243.1M$155.5M$87.6M$1.8B 990 PDF
FY2021 $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 R · Related orgs G · Fundraising L · Interested persons

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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