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Nonprofiteer
← BELMONT ABBEY COLLEGE

Form 990 for tax year 2024

Filed by BELMONT ABBEY COLLEGE.

Totals

Total revenue
$63,695,801
Total expenses
$59,860,860
Contributions and grants received
$20,091,986
Grants paid
$10,848,088
Program service revenue
$42,713,658
Investment income
$803,789
Other revenue
$86,368
Total assets, end of year
$81,232,897
Total liabilities, end of year
$32,589,976
Net assets or fund balances, end of year
$48,642,921
Program services expenses (Part IX)
$45,610,469
Management and general expenses
$10,544,005
Fundraising expenses
$3,706,386
Program service expenses (Part III)
$45,610,469

Program services were 76.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $70,094

  • 1d · Related organizations

    $8,250,500

  • 1e · Government grants (contributions)

    $265,571

  • 1f · All other contributions, gifts and grants

    $11,505,821

  • 1g · Noncash contributions included above

    $1,134,772

  • 2a · Program service revenue: TUITION AND FEES

    total $27,992,772 · related or exempt $27,992,772

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $14,096,291 · related or exempt $14,096,291

  • 2c · Program service revenue: MISCELLANEOUS PROGRAM

    total $624,595 · related or exempt $624,595

  • 3 · Investment income

    total $683,179 · excluded $683,179

  • 7a · Gross sales of assets other than inventory

    securities $21,800,056

  • 7b · Less cost or other basis and sales expenses

    securities $21,675,400 · other assets $4,046

  • 7c · Gain or loss

    securities $124,656 · other assets -$4,046

  • 7d · Net gain or loss

    total $120,610 · related or exempt -$4,046 · excluded $124,656

  • 8a · Fundraising events: gross income

    $21,545

  • 8a · Fundraising events: contributions included on line 1c

    $70,094

  • 8b · Fundraising events: direct expenses

    $36,757

  • 8c · Net income from fundraising events

    total -$15,212 · excluded -$15,212

  • 11a · Other revenue: DISTRIBUTION FROM FUNDS HELD IN T

    total $101,580 · excluded $101,580

  • 11e · Other revenue, total

    $101,580

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,848,088 · program services $10,848,088

  • 5 · Compensation of officers, directors and key employees

    total $1,593,379 · program services $370,829 · management and general $822,154 · fundraising $400,396

  • 7 · Other salaries and wages

    total $17,687,226 · program services $14,908,687 · management and general $1,567,927 · fundraising $1,210,612

  • 8 · Pension plan contributions

    total $617,139 · program services $522,802 · management and general $52,566 · fundraising $41,771

  • 9 · Other employee benefits

    total $1,592,319 · program services $1,431,514 · management and general $11,291 · fundraising $149,514

  • 10 · Payroll taxes

    total $1,351,409 · program services $1,083,754 · management and general $159,180 · fundraising $108,475

  • 11b · Fees: legal

    total $159,561 · management and general $149,372 · fundraising $10,189

  • 11f · Fees: investment management

    total $70,726 · management and general $70,726

  • 11g · Fees: other

    total $1,902,732 · program services $1,445,371 · management and general $344,531 · fundraising $112,830

  • 12 · Advertising and promotion

    total $507,558 · program services $371,405 · management and general $2,500 · fundraising $133,653

  • 13 · Office expenses

    total $2,198,933 · program services $569,380 · management and general $1,458,254 · fundraising $171,299

  • 16 · Occupancy

    total $1,300,575 · program services $987,955 · management and general $235,497 · fundraising $77,123

  • 17 · Travel

    total $1,505,921 · program services $1,379,947 · management and general $63,445 · fundraising $62,529

  • 19 · Conferences, conventions and meetings

    total $105,060 · program services $89,329 · management and general $7,678 · fundraising $8,053

  • 20 · Interest

    total $1,165,931 · program services $1,165,931

  • 22 · Depreciation, depletion and amortization

    total $1,761,070 · program services $1,337,761 · management and general $318,879 · fundraising $104,430

  • 23 · Insurance

    total $982,639 · program services $804,500 · management and general $134,192 · fundraising $43,947

  • 24a · Other expenses: CONTRACT SERVICES

    total $6,657,779 · program services $1,481,951 · management and general $4,822,745 · fundraising $353,083

  • 24b · Other expenses: FOOD SERVICES

    total $3,906,725 · program services $3,906,725

  • 24c · Other expenses: STUDENT SERVICES

    total $1,644,977 · program services $1,644,977

  • 24d · Other expenses: OTHER

    total $701,712 · program services $358,658 · management and general $177,069 · fundraising $165,985

  • 24e · All other expenses

    total $1,599,401 · program services $900,905 · management and general $145,999 · fundraising $552,497

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,095,104

  • 2 · Savings and temporary cash investments

    beginning of year $94,334

  • 3 · Pledges and grants receivable

    beginning of year $13,158,609 · end of year $6,591,636

  • 4 · Accounts receivable

    beginning of year $5,179,930 · end of year $4,247,764

  • 9 · Prepaid expenses and deferred charges

    beginning of year $648,268 · end of year $617,359

  • 10a · Land, buildings and equipment: cost or other basis

    $53,339,728

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,722,255

  • 10c · Land, buildings and equipment, net

    beginning of year $30,654,959 · end of year $37,617,473

  • 11 · Investments: publicly traded securities

    beginning of year $10,177,814 · end of year $23,302,988

  • 12 · Investments: other securities

    beginning of year $2,260,705 · end of year $3,738,118

  • 15 · Other assets

    beginning of year $5,750,630 · end of year $5,117,559

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,653,449 · end of year $4,726,898

  • 19 · Deferred revenue

    beginning of year $1,082,271 · end of year $1,612,162

  • 23 · Secured mortgages and notes payable

    beginning of year $15,302,979 · end of year $14,458,491

  • 24 · Unsecured notes and loans payable

    beginning of year $5,000,000 · end of year $6,500,000

  • 25 · Other liabilities

    beginning of year $6,142,025 · end of year $5,292,425

  • 27 · Net assets without donor restrictions

    beginning of year -$5,542,633 · end of year -$3,674,890

  • 28 · Net assets with donor restrictions

    beginning of year $49,382,262 · end of year $52,317,811

Mission and programs · 2024

Mission

THE MISSION OF BELMONT ABBEY COLLEGE IS TO EDUCATE STUDENTS IN THE LIBERAL ARTS AND SCIENCES SO THAT IN ALL THINGS, GOD MAY BE GLORIFIED. IN THIS ENDEAVOR, WE ARE GUIDED BY THE CATHOLIC INTELLECTUAL TRADITION AND THE BENEDICTINE SPIRIT OF PRAYER AND LEARNING. EXEMPLIFYING BENEDICTINE HOSPITALITY, WE WELCOME A DIVERSE BODY OF STUDENTS AND PROVIDE THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO LEAD LIVES OF INTEGRITY, SUCCEED PROFESSIONALLY, BECOME RESPONSIBLE CITIZENS, AND BE A BLESSING TO THEMSELVES AND TO OTHERS.

Activities or mission (Part I)

BELMONT ABBEY COLLEGE OFFERS BACCALAUREATE LEVEL EDUCATION IN HUMANITIES, NATURAL SCIENCES, SOCIAL SCIENCES, AND PROFESSIONAL STUDIES AND MASTERS LEVEL EDUCATION IN HEALTHCARE ADMINISTRATION, BUSINESS ADMINISTRATION, DATA ANALYTICS, LEADERSHIP, NURSING, CLASSICAL & LIBERAL EDUCATION AND COMMUNICATION.

  • INSTRUCTION - BELMONT ABBEY COLLEGE PROVIDES EDUCATION FOR STUDENTS IN THE LIBERAL ARTS AND SCIENCES SO THAT IN ALL THINGS, GOD MAY BE GLORIFIED. IN THIS ENDEAVOR, THE COLLEGE IS GUIDED BY THE CATHOLIC INTELLECTUAL TRADITION AND THE BENEDICTINE SPIRIT OF PRAYER AND LEARNING. EXEMPLIFYING BENEDICTINE HOSPITALITY, THE COLLEGE WELCOMES A DIVERSE BODY OF STUDENTS AND PROVIDES THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO LEAD LIVES OF INTEGRITY, TO SUCCEED PROFESSIONALLY, TO BECOME RESPONSIBLE CITIZENS, AND TO BE A BLESSING TO THEMSELVES AND TO OTHERS. DURING THE 2024-2025 ACADEMIC YEAR THE COLLEGE ENROLLED APPROXIMATELY 1,500 STUDENTS.

    Expenses $45,610,469 · Grants $10,848,088 · Revenue $42,709,612

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr Charles C Cornelio

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Mr Chris Parker

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Mr Richard Hoefling

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Rt Rev Placid D Solari Osb

    CHANCELLOR

    Total calculated
    $0
    Hours/week
    3

  • Brother Tobiah Abbot Osb

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Cliff Bauer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Molly Beckert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bishop Joseph Coffey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Elias Correa-Torres

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr James Crawford III JD Llm Ma

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Judge James Dever III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Sara Edel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Heather Finke

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Conor Gallagher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Mary Ellen Gustainis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Thomas Kelly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Father Christopher Kirchgessner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Terence M Murphy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Fr James Raber Osb

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Jose Rodriguez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Mary Summa

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Mary Catherine Surface

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Frank Trotta

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr David Wofford

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Philip Brach

    VICE PRESIDENT OF COLLEGE RELATIONS

    Total calculated
    $272,111
    From this org
    $246,172
    From related orgs
    $0
    Other
    $25,939
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $244,840
    Bonus
    $0
    Other
    $1,332
    Deferred
    $10,600
    Nontaxable benefits
    $15,339
    Filer's total
    $272,111

  • Dr Joseph Wysocki

    PROVOST

    Total calculated
    $216,561
    From this org
    $192,978
    From related orgs
    $0
    Other
    $23,583
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $192,240
    Bonus
    $0
    Other
    $738
    Deferred
    $8,244
    Nontaxable benefits
    $15,339
    Filer's total
    $216,561

  • Mr Allan Mark

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $266,193
    From this org
    $241,112
    From related orgs
    $0
    Other
    $25,081
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $240,140
    Bonus
    $0
    Other
    $972
    Deferred
    $9,800
    Nontaxable benefits
    $15,281
    Filer's total
    $266,193

  • Mr Stephen Miss

    VICE PRESIDENT AND ATHLETIC DIRECTOR

    Total calculated
    $227,919
    From this org
    $202,849
    From related orgs
    $0
    Other
    $25,070
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $201,517
    Bonus
    $0
    Other
    $1,332
    Deferred
    $8,697
    Nontaxable benefits
    $16,373
    Filer's total
    $227,919

  • Dr William Thierfelder

    PRESIDENT

    Total calculated
    $441,964
    From this org
    $394,901
    From related orgs
    $0
    Other
    $47,063
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $302,238
    Bonus
    $0
    Other
    $92,663
    Deferred
    $31,724
    Nontaxable benefits
    $15,339
    Filer's total
    $441,964

  • Augusta Gladd

    SENIOR VICE PRESIDENT STRATEGIC GIVING

    Total calculated
    $166,141
    From this org
    $151,864
    From related orgs
    $0
    Other
    $14,277
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,610
    Bonus
    $0
    Other
    $1,254
    Deferred
    $6,200
    Nontaxable benefits
    $8,077
    Filer's total
    $166,141

  • Andrea Trembath

    FORMER VICE PRESIDENT FINANCE AND ADMINISTRATION

    Total calculated
    $158,757
    From this org
    $142,715
    From related orgs
    $0
    Other
    $16,042
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,473
    Bonus
    $0
    Other
    $1,242
    Deferred
    $6,033
    Nontaxable benefits
    $10,009
    Filer's total
    $158,757

  • Samantha Donohue

    ASSOCIATE VICE PRESIDENT -COLLEGE RELATIONS

    Total calculated
    $150,266
    From this org
    $138,350
    From related orgs
    $0
    Other
    $11,916
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $137,760
    Bonus
    $0
    Other
    $590
    Deferred
    $5,520
    Nontaxable benefits
    $6,396
    Filer's total
    $150,266

  • Cheryl Trotter

    VICE PRESIDENT HR AND OPERATIONS

    Total calculated
    $179,743
    From this org
    $178,757
    From related orgs
    $0
    Other
    $986
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $177,800
    Bonus
    $0
    Other
    $957
    Deferred
    $712
    Nontaxable benefits
    $274
    Filer's total
    $179,743

  • Emmett McGroarty

    DIRECTOR OF THE BELMONT HOUSE

    Total calculated
    $162,584
    From this org
    $150,399
    From related orgs
    $0
    Other
    $12,185
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,160
    Bonus
    $0
    Other
    $1,239
    Deferred
    $6,000
    Nontaxable benefits
    $6,185
    Filer's total
    $162,584

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
GROSS-UP PAYMENTS ARE PAYMENTS FOR LONG-TERM DISABILITY PAID BY THE COLLEGE AND INCLUDED IN THE EMPLOYEE'S W-2. BELMONT ABBEY COLLEGE PROVIDES A HOUSING ALLOWANCE TO CERTAIN EMPLOYEES AS CONTRACTUALLY PROVIDED. SUCH HOUSING IS SUBJECT TO ALL APPLICABLE FEDERAL, STATE, AND LOCAL TAX WITHHOLDINGS.
PART I, LINE 4B
WILLIAM THIERFELDER, PRESIDENT, HAD A CONTRIBUTION INTO HIS 457(B) PLAN IN THE AMOUNT OF 20,000.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
15 April 2026
IRS schema version
2024v5.5
Source object
202631059349300138

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