Berea College

Analysis

Berea College is a registered charity in United States, based in Berea, KY. It received its IRS tax-exemption ruling in February 1953, 73 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Berea College reported income of $157.5m and spending of $134.1m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $250.8m to $157.5m (-37%), an average of -11% a year. The sharpest change came in the year to June 2023, when income dropped by 35%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Berea College sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within KY. Charities of a similar size with the same main cause include University of Puget Sound ($157.2m), Foundation for California Community Colleges ($157.7m) and St John Fisher University ($157.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $2.7m (2.0% of expenses). Other salaries and wages came to $45.6m. It paid $525k in professional fundraising fees. At year end it held assets of $1.98bn against liabilities of $109.7m, net assets of $1.87bn. It reported 1,084 employees.