← BETHANY LUTHERAN COLLEGE & SEMINARY INC

Form 990 for tax year 2024

Filed by BETHANY LUTHERAN COLLEGE & SEMINARY INC.

Totals

Total revenue: $36,287,765
Total expenses: $35,498,756
Contributions and grants received: $7,584,615
Grants paid: $10,454,807
Program service revenue: $24,853,031
Investment income: $2,770,485
Other revenue: $1,079,634
Total assets, end of year: $120,266,383
Total liabilities, end of year: $23,138,935
Net assets or fund balances, end of year: $97,127,448
Program services expenses (Part IX): $31,723,484
Management and general expenses: $2,748,338
Fundraising expenses: $1,026,934
Program service expenses (Part III): $31,723,484

Program services were 89.4% 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

$15,123
1e · Government grants (contributions)

$77,674
1f · All other contributions, gifts and grants

$7,491,818
2a · Program service revenue: TUITION AND FEES

total $21,125,744 · related or exempt $21,125,744
2b · Program service revenue: AUXILIARY ENTERPRISES

total $3,686,813 · related or exempt $3,686,813
2c · Program service revenue: STUDENT ACTIVITIES

total $40,474 · related or exempt $40,474
3 · Investment income

total $594,132 · excluded $594,132
5 · Royalties

total $192,024 · excluded $192,024
6a · Gross rents

real property $219,025
6b · Less rental expenses

real property $172,828
6c · Rental income or loss

real property $46,197
6d · Net rental income or loss

total $46,197 · excluded $46,197
7a · Gross sales of assets other than inventory

securities $12,471,879 · other assets $851
7b · Less cost or other basis and sales expenses

securities $10,296,377 · other assets $0
7c · Gain or loss

securities $2,175,502 · other assets $851
7d · Net gain or loss

total $2,176,353 · excluded $2,176,353
8a · Fundraising events: gross income

$139,378
8a · Fundraising events: contributions included on line 1c

$15,123
8b · Fundraising events: direct expenses

$58,419
8c · Net income from fundraising events

total $80,959 · excluded $80,959
11a · Other revenue: OTHER PROGRAM INCOME

total $760,454 · excluded $760,454
11e · Other revenue, total

$760,454

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $10,410,238 · program services $10,410,238
3 · Grants to foreign organizations and individuals

total $44,569 · program services $44,569
5 · Compensation of officers, directors and key employees

total $978,941 · program services $177,600 · management and general $678,632 · fundraising $122,709
7 · Other salaries and wages

total $9,408,929 · program services $7,880,400 · management and general $899,217 · fundraising $629,312
8 · Pension plan contributions

total $410,465 · program services $294,848 · management and general $81,713 · fundraising $33,904
9 · Other employee benefits

total $1,949,031 · program services $1,696,503 · management and general $108,154 · fundraising $144,374
10 · Payroll taxes

total $680,860 · program services $529,649 · management and general $96,263 · fundraising $54,948
11b · Fees: legal

total $14,539 · management and general $14,539
11c · Fees: accounting

total $116,483 · management and general $116,483
11f · Fees: investment management

total $161,888 · management and general $161,888
11g · Fees: other

total $2,356,371 · program services $2,349,479 · management and general $4,135 · fundraising $2,757
12 · Advertising and promotion

total $207,887 · program services $207,887
13 · Office expenses

total $666,193 · program services $629,020 · management and general $31,357 · fundraising $5,816
14 · Information technology

total $358,743 · program services $358,743
16 · Occupancy

total $751,034 · program services $714,305 · management and general $28,019 · fundraising $8,710
17 · Travel

total $846,127 · program services $817,393 · management and general $28,716 · fundraising $18
19 · Conferences, conventions and meetings

total $102,581 · program services $87,180 · management and general $15,401
20 · Interest

total $553,541 · program services $553,541
22 · Depreciation, depletion and amortization

total $2,996,235 · program services $2,927,902 · management and general $68,333
23 · Insurance

total $307,831 · program services $240,967 · management and general $66,864
24a · Other expenses: REPAIRS & EQUIPMENT

total $1,244,499 · program services $1,030,347 · management and general $206,006 · fundraising $8,146
24b · Other expenses: DUES & MEMBERSHIPS

total $92,486 · program services $87,559 · management and general $8 · fundraising $4,919
24c · Other expenses: PLEDGE CONTRIBUTIONS WR

total $32,500 · program services $10,833 · management and general $10,833 · fundraising $10,834
24d · Other expenses: BOOKS & SUBSCRIPTIONS

total $17,726 · program services $17,239 · fundraising $487
24e · All other expenses

total $789,059 · program services $657,282 · management and general $131,777

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $7,149,810 · end of year $6,885,727
3 · Pledges and grants receivable

beginning of year $88,663 · end of year $424,365
4 · Accounts receivable

beginning of year $350,902 · end of year $356,576
7 · Other notes and loans receivable

beginning of year $54,243 · end of year $36,558
8 · Inventories for sale or use

beginning of year $211,017 · end of year $214,157
9 · Prepaid expenses and deferred charges

beginning of year $176,842 · end of year $145,631
10a · Land, buildings and equipment: cost or other basis

$114,459,240
10b · Land, buildings and equipment: accumulated depreciation

$59,576,171
10c · Land, buildings and equipment, net

beginning of year $56,664,700 · end of year $54,883,069
11 · Investments: publicly traded securities

beginning of year $37,820,826 · end of year $37,972,269
12 · Investments: other securities

beginning of year $13,014,585 · end of year $18,006,862
15 · Other assets

beginning of year $1,775,785 · end of year $1,341,169
17 · Accounts payable and accrued expenses

beginning of year $1,128,190 · end of year $1,012,695
19 · Deferred revenue

beginning of year $57,644 · end of year $64,007
21 · Escrow or custodial account liability

beginning of year $26,189 · end of year $18,957
23 · Secured mortgages and notes payable

beginning of year $21,871,971 · end of year $20,849,118
25 · Other liabilities

beginning of year $1,241,203 · end of year $1,194,158
27 · Net assets without donor restrictions

beginning of year $41,446,193 · end of year $40,472,531
28 · Net assets with donor restrictions

beginning of year $51,535,983 · end of year $56,654,917

Mission and programs · 2024

Mission

BETHANY LUTHERAN COLLEGE PROVIDES CHRISTIAN HIGHER EDUCATION IN A CHALLENGING ACADEMIC ENVIRONMENT WHERE PERSONAL MENTORING GUIDES STUDENTS TO PURSUE KNOWLEDGE, TRUTH, AND DISCERNMENT FOR PRODUCTIVE AND FULFILLING LIVES.

Activities or mission (Part I)

BETHANY LUTHERAN COLLEGE IS A PRIVATE, RESIDENTIAL, LIBERAL ARTS COLLEGE COMMITTED TO THE TEACHINGS OF THE BIBLE AS SET FORTH IN THE LUTHERAN CONFESSIONS. BETHANY PROVIDES STUDIES CULMINATING IN A BACHELOR OF ARTS & SCIENCE DEGREES & A MASTERS OF CLINCIAL MENTAL HEALTH COUNSELING. BETHANY LUTHERAN THEOLOGICAL SEMINARY EXISTS IN ORDER TO TRAIN MEN FOR THE PUBLIC MINISTRY IN THE ELS AS WELL AS TO SERVE THE SYNOD'S THEOLOGICAL NEEDS.

INSTRUCTION: BETHANY LUTHERAN COLLEGE AWARDS THE BACHELOR OF ARTS & SCIENCE DEGREES WITH MAJORS IN MORE THAN 31 SUBJECT AREAS AND A MASTER OF DIVINITY AND A MASTER OF ARTS DEGREES. THE 2024-2025 ACADEMIC YEAR ENROLLMENT WAS 769 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 689 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2024-2025 ACADEMIC YEAR, 161 MET THE REQUIREMENTS OF GRADUATION.

Expenses $19,450,149 · Grants $10,454,807 · Revenue $21,125,744
STUDENT SERVICES & ACADEMIC SUPPORT: BETHANY BOASTS A LONG-STANDING COMMITMENT TO EDUCATING THE WHOLE PERSON BY NOURISHING THE INTELLECTUAL, SPIRITUAL, EMOTIONAL, SOCIAL AND PHYSICAL DIMENSIONS OF STUDENTS' LIVES. THE COLLEGE OFFERS A CURRICULUM THAT CHALLENGES STUDENTS TO THINK CRITICALLY AND EXPRESS THEMSELVES EFFECTIVELY, A CAMPUS LIFE THAT ENCOURAGES INVOLVEMENT AND SERVICE (OVER 25 STUDENT ORGANIZATIONS), A COMMUNITY OF FAITH THAT NURTURES SPIRITUAL GROWTH ANDDEVELOPS MORAL RESPONSIBILITY, AND CO-CURRICULAR ACTIVITIES THAT INSPIRE STUDENTS TO TEST THEIR OWN LIMITS AND EXPRESS THEIR INDIVIDUALITY.

Expenses $8,836,010 · Revenue $40,474
AUXILIARY ENTERPRISES AT BETHANY LUTHERAN COLLEGE PROVIDES FOUR RESIDENCE HALLS ON CAMPUS, ONE DINING VENUE, AND A SPIRIT STORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 62% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 385 STUDENTS RESIDED IN CAMPUS HOUSING IN THE 2024-2025 FALL SEMESTER AND 357 IN THE SPRING SEMESTER.

Expenses $3,437,325 · Revenue $3,686,813
OTHER PROGRAM SERVICES INCLUDE OPERATIONS AND MAINTENANCE OF PLANT AND INSTITUTIONAL SUPPORT. THESE PROGRAMS PROVIDE SERVICES TO OPERATE AND MAINTAIN BUILDINGS AND GROUNDS AND TO SUPPORT INSTITUTIONAL OPERATIONS OTHER

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

Listed in Part VII

REV MARK BARTELS

CHARIMAN/REGENT

Total calculated

$0

Hours/week

1
REV DAVID THOMPSON

VICE-CHAIR/REGENT

Total calculated

$0

Hours/week

1
REV ALEX RING

SECRETARY/REGENT

Total calculated

$0

Hours/week

1
DR JOSHUA MEARS

REGENT

Total calculated

$0

Hours/week

1
MR STEVEN DEPREY

REGENT

Total calculated

$0

Hours/week

1
MR AARON FAUGSTAD

REGENT

Total calculated

$0

Hours/week

1
MR DAVID SPARLEY

REGENT

Total calculated

$0

Hours/week

1
DR ADAM BRAISCH

REGENT

Total calculated

$0

Hours/week

1
DR DANIEL HARTWIG

REGENT

Total calculated

$0

Hours/week

1
REV AARON FERKENSTAD

REGENT

Total calculated

$0

Hours/week

1
MR TIMOTHY ROEMHILDT

REGENT

Total calculated

$0

Hours/week

1
MR JOHN SCOTT

REGENT

Total calculated

$0

Hours/week

1
REV ERWIN EKHOFF

REGENT

Total calculated

$0

Hours/week

1
MR MARK MADSON

REGENT

Total calculated

$0

Hours/week

1
DR GENE R PFEIFER

COLLEGE PRESIDENT

Total calculated

$255,474

From this org

$196,911

From related orgs

$0

Other

$58,563

Hours/week

40

Schedule J breakdown matched by us

Base

$0

Bonus

$194,956

Other

$1,955

Deferred

$23,981

Nontaxable benefits

$34,582

Filer's total

$255,474
DANIEL L MUNDAHL

SENIOR VP OF FIN & ADMIN/TREASURER

Total calculated

$161,478

From this org

$141,748

From related orgs

$0

Other

$19,730

Hours/week

40

Schedule J breakdown matched by us

Base

$0

Bonus

$141,181

Other

$567

Deferred

$7,480

Nontaxable benefits

$12,250

Filer's total

$161,478
REV TIMOTHY HARTWIG

SEMINARY PRESIDENT

Total calculated

$93,850

From this org

$67,378

From related orgs

$0

Other

$26,472

Hours/week

40
STACEY DAWLEY

DIRECTOR OF FINANCE/ASST. TREASURER

Total calculated

$81,452

From this org

$77,432

From related orgs

$0

Other

$4,020

Hours/week

40

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 · Travel for companions
1a · Housing allowance or residence for personal use
1a · Health or social club dues or initiation fees
1a · Personal services (maid, chauffeur, chef)
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
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: TRAVEL FOR COMPANIONS - THE SPOUSE OF THE PRESIDENT IS EMPLOYED BY THE INSTITUTION AND HER RESPONSIBILITIES INCLUDE TRAVEL WITH THE PRESIDENT ON VARIOUS OCCASIONS, AS NEEDED. THE AMOUNT OF THIS JOB REQUIRED TRAVEL IS NOT INCLUDED IN TAXABLE COMPENSATION. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE & PERSONAL SERVICES - THE PRESIDENT IS PROVIDED HOUSING AS PART OF HIS CONTRACT AND BENEFIT PACKAGE. MAID SERVICE IS PROVIDED FOR THE RESIDENCE. THE AMOUNT OF THIS HOUSING IS NOT INCLUDED IN TAXABLE COMPENSATION SINCE IT IS A REQUIREMENT OF THE POSITION.

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.

EVANGELICAL LUTHERAN SYNOD - 23-7181739

501(C)(3) · RELIGIOUS NOT FOR PROFIT · MN

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

CHARITABLE REMAINDER UNITRUST (3)

T · CHARITABLE TRUST · MN · controlled entity

Provenance

Return type: form_990
Tax year: 2024
Filed: 1 May 2026
IRS schema version: 2024v5.5
Source object: 202621259349301527

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