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← BETHANY LUTHERAN COLLEGE & SEMINARY INC

Form 990 for tax year 2022

Filed by BETHANY LUTHERAN COLLEGE & SEMINARY INC.

Totals

Total revenue
$33,871,771
Total expenses
$33,193,131
Contributions and grants received
$8,561,283
Grants paid
$10,260,385
Program service revenue
$24,455,912
Investment income
$481,158
Other revenue
$373,418
Total assets, end of year
$113,032,695
Total liabilities, end of year
$24,699,722
Net assets or fund balances, end of year
$88,332,973
Program services expenses (Part IX)
$29,695,996
Management and general expenses
$2,513,822
Fundraising expenses
$983,313
Program service expenses (Part III)
$29,695,996

Program services were 89.5% 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

    $8,444

  • 1d · Related organizations

    $134,716

  • 1e · Government grants (contributions)

    $1,125,870

  • 1f · All other contributions, gifts and grants

    $7,292,253

  • 2a · Program service revenue: TUITION AND FEES

    total $18,970,483 · related or exempt $18,970,483

  • 2b · Program service revenue: AUXILIARY

    total $3,713,456 · related or exempt $3,713,456

  • 2c · Program service revenue: STUDENT ACTIVITIES

    total $1,771,973 · related or exempt $1,771,973

  • 3 · Investment income

    total $870,642 · excluded $870,642

  • 5 · Royalties

    total $338,083 · excluded $338,083

  • 6a · Gross rents

    real property $119,753

  • 6b · Less rental expenses

    real property $137,743

  • 6c · Rental income or loss

    real property -$17,990

  • 6d · Net rental income or loss

    total -$17,990 · excluded -$17,990

  • 7a · Gross sales of assets other than inventory

    securities $29,007,422

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

    securities $29,396,906

  • 7c · Gain or loss

    securities -$389,484

  • 7d · Net gain or loss

    total -$389,484 · excluded -$389,484

  • 8a · Fundraising events: gross income

    $92,210

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

    $8,444

  • 8b · Fundraising events: direct expenses

    $38,885

  • 8c · Net income from fundraising events

    total $53,325 · excluded $53,325

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,240,783 · program services $10,240,783

  • 3 · Grants to foreign organizations and individuals

    total $19,602 · program services $19,602

  • 5 · Compensation of officers, directors and key employees

    total $915,396 · program services $167,721 · management and general $593,246 · fundraising $154,429

  • 7 · Other salaries and wages

    total $8,747,407 · program services $7,349,850 · management and general $841,630 · fundraising $555,927

  • 8 · Pension plan contributions

    total $394,561 · program services $285,969 · management and general $76,070 · fundraising $32,522

  • 9 · Other employee benefits

    total $1,739,069 · program services $1,513,761 · management and general $86,858 · fundraising $138,450

  • 10 · Payroll taxes

    total $621,481 · program services $485,362 · management and general $87,609 · fundraising $48,510

  • 11b · Fees: legal

    total $100 · management and general $100

  • 11c · Fees: accounting

    total $76,484 · management and general $76,484

  • 11f · Fees: investment management

    total $153,196 · management and general $153,196

  • 11g · Fees: other

    total $1,171,888 · program services $1,150,286 · management and general $21,602

  • 12 · Advertising and promotion

    total $150,875 · program services $150,875

  • 13 · Office expenses

    total $713,154 · program services $674,935 · management and general $38,219

  • 14 · Information technology

    total $352,373 · program services $310,123 · management and general $40,952 · fundraising $1,298

  • 16 · Occupancy

    total $642,888 · program services $611,716 · management and general $19,539 · fundraising $11,633

  • 17 · Travel

    total $884,711 · program services $858,016 · management and general $26,680 · fundraising $15

  • 19 · Conferences, conventions and meetings

    total $114,092 · program services $87,180 · management and general $21,929 · fundraising $4,983

  • 20 · Interest

    total $450,094 · program services $368,597 · management and general $81,497

  • 22 · Depreciation, depletion and amortization

    total $2,278,772 · program services $2,224,485 · management and general $54,287

  • 23 · Insurance

    total $228,370 · program services $155,764 · management and general $72,606

  • 24a · Other expenses: REPAIR & MAINTENANCE

    total $635,254 · program services $452,117 · management and general $176,019 · fundraising $7,118

  • 24b · Other expenses: DUES & MEMBERSHIPS

    total $89,849 · program services $77,054 · management and general $2,854 · fundraising $9,941

  • 24c · Other expenses: PLEDGE CONTRIBUTIONS WR

    total $52,300 · program services $17,433 · management and general $17,434 · fundraising $17,433

  • 24d · Other expenses: BOOKS & SUBSCRIPTION

    total $13,019 · program services $10,548 · management and general $1,417 · fundraising $1,054

  • 24e · All other expenses

    total $2,507,413 · program services $2,483,819 · management and general $23,594

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,538,394 · end of year $4,005,055

  • 3 · Pledges and grants receivable

    beginning of year $98,269 · end of year $94,757

  • 4 · Accounts receivable

    beginning of year $378,851 · end of year $633,284

  • 8 · Inventories for sale or use

    beginning of year $181,432 · end of year $213,798

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,373 · end of year $27,486

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

    $112,267,115

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

    $53,852,660

  • 10c · Land, buildings and equipment, net

    beginning of year $48,512,085 · end of year $58,414,455

  • 11 · Investments: publicly traded securities

    beginning of year $35,239,354 · end of year $36,562,300

  • 12 · Investments: other securities

    beginning of year $11,768,141 · end of year $11,310,675

  • 13 · Investments: program-related

    beginning of year $145,422 · end of year $103,266

  • 15 · Other assets

    beginning of year $1,776,107 · end of year $1,667,619

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,083,298 · end of year $1,602,784

  • 19 · Deferred revenue

    beginning of year $86,327 · end of year $82,952

  • 21 · Escrow or custodial account liability

    beginning of year $155,790 · end of year $191,197

  • 23 · Secured mortgages and notes payable

    beginning of year $15,466,007 · end of year $21,859,467

  • 25 · Other liabilities

    beginning of year $1,030,027 · end of year $963,322

  • 27 · Net assets without donor restrictions

    beginning of year $36,849,004 · end of year $36,598,721

  • 28 · Net assets with donor restrictions

    beginning of year $48,017,975 · end of year $51,734,252

Mission and programs · 2022

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 DEGREE & 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 36 SUBJECT AREAS AND A MASTER OF DIVINITY AND A MASTER OF ARTS DEGREES. THE 2022-2023 ACADEMIC YEAR ENROLLMENT WAS 721 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 673 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2022-2023 ACADEMIC YEAR, 122 MET THE REQUIREMENTS OF GRADUATION.

    Expenses $15,974,842 · Grants $10,260,385 · Revenue $18,970,483

  • 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 20 STUDENT ORGANIZATIONS), A COMMUNITY OF FAITH THAT NURTURES SPIRITUAL GROWTH AND DEVELOPS MORAL RESPONSIBILITY, AND CO-CURRICULAR ACTIVITIES THAT INSPIRE STUDENTS TO TEST THEIR OWN LIMITS AND EXPRESS THEIR INDIVIDUALITY.

    Expenses $8,946,115 · Revenue $1,771,973

  • AUXILIARY ENTERPRISES AT BETHANY LUTHERAN COLLEGE PROVIDES FIVE RESIDENCE HALLS ON CAMPUS, ONE DINING VENUE, AND A SPIRIT STORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 67% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 422 STUDENTS RESIDED IN CAMPUS HOUSING IN THE 2022-2023 FALL SEMESTER AND 392 IN THE SPRING SEMESTER.

    Expenses $4,775,039 · Revenue $3,713,456

  • 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 THAN MANAGEMENT AND GENERAL.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rev Herbert Huhnerkoch

    CHAIRMAN-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Rev Mark Bartels

    VICE-CHAIR-BOARD OF REGENT

    Total calculated
    $0
    Hours/week
    1

  • Rev Alexander Ring

    SECRETARY-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Mr David Sparley

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Rev Erwin Ekhoff

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Mr Lyle Fahning

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Dr Joshua Mears

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Mr James Minor

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Rev Aaron Ferkenstad

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Mr Timothy Roemhildt

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Mr Mark Madson

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Rev David Thompson

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Mr John Scott

    MEMBER-BOARD OF REGENTS

    Total calculated
    $0
    Hours/week
    1

  • Dr Gene R Pfeifer

    COLLEGE PRESIDENT

    Total calculated
    $236,800
    From this org
    $179,706
    From related orgs
    $0
    Other
    $57,094
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,292
    Bonus
    $0
    Other
    $1,414
    Deferred
    $22,206
    Nontaxable benefits
    $34,888
    Filer's total
    $236,800

  • Daniel L Mundahl

    SENIOR VP OF FIN & ADMIN/TREASURER

    Total calculated
    $137,964
    From this org
    $117,950
    From related orgs
    $0
    Other
    $20,014
    Hours/week
    40

  • Timothy Hartwig

    SEMINARY PRESIDENT

    Total calculated
    $62,708
    From this org
    $44,143
    From related orgs
    $0
    Other
    $18,565
    Hours/week
    40

  • Gregory Costello

    CONTROLLER/ASST. TREASURER

    Total calculated
    $93,414
    From this org
    $75,448
    From related orgs
    $0
    Other
    $17,966
    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 · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 PRESIDENT'S WIFE TRAVELS WITH THE PRESIDENT ON SEVERAL DIFFERENT OCCASIONS. IT IS COUNTED AS PART OF HER DUTIES TO TRAVEL WITH THE PRESIDENT AS NEEDED. NOT INCLUDED IN TAXABLE COMPENSATION. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE AND PERSONAL SERVICES - THE PRESIDENT IS PROVIDED HOUSING AS PART OF HIS BENEFIT PACKAGE. MAID SERVICE IS PROVIDED FOR FOR THE RESIDENCE. NOT INCLUDED IN TAXABLE COMPENSATION.

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.

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
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202421299349302367

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