Totals
- Total revenue
- $35,901,560
- Total expenses
- $32,534,708
- Contributions and grants received
- $4,011,985
- Grants paid
- $7,798,195
- Program service revenue
- $31,676,328
- Investment income
- $7,178
- Other revenue
- $206,069
- Total assets, end of year
- $36,914,716
- Total liabilities, end of year
- $21,633,684
- Net assets or fund balances, end of year
- $15,281,032
- Program services expenses (Part IX)
- $27,289,317
- Management and general expenses
- $4,914,563
- Fundraising expenses
- $330,828
- Program service expenses (Part III)
- $27,289,317
Program services were 83.9% 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.
-
1e · Government grants (contributions)
$500,000
-
1f · All other contributions, gifts and grants
$3,511,985
-
1g · Noncash contributions included above
$271,241
-
2a · Program service revenue: TUITION & FEES
total $23,187,028 · related or exempt $23,187,028
-
2b · Program service revenue: ROOM & BOARD FEES
total $6,515,843 · related or exempt $6,515,843
-
2c · Program service revenue: NONTRADITIONAL PROGRAMS
total $1,417,690 · related or exempt $1,417,690
-
2d · Program service revenue: STUDENT SERVICE FEES
total $555,767 · related or exempt $555,767
-
3 · Investment income
total $69,182 · excluded $69,182
-
7a · Gross sales of assets other than inventory
securities $1,205,045
-
7b · Less cost or other basis and sales expenses
securities $1,246,156 · other assets $20,893
-
7c · Gain or loss
securities -$41,111 · other assets -$20,893
-
7d · Net gain or loss
total -$62,004 · excluded -$62,004
-
9a · Gaming: gross income
$4,914
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $4,914 · excluded $4,914
-
10a · Gross sales of inventory
$226,071
-
10b · Cost of goods sold
$196,942
-
10c · Net income from sales of inventory
total $29,129 · related or exempt $29,129
-
11a · Other revenue: STUDENT HEALTH INSURANCE
total $153,441 · excluded $153,441
-
11b · Other revenue: REFUNDS & OTHER INCOME
total $11,607 · excluded $11,607
-
11c · Other revenue: VENDING
total $6,978 · excluded $6,978
-
11e · Other revenue, total
$172,026
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $12,698 · program services $12,698
-
2 · Grants to domestic individuals
total $7,765,997 · program services $7,765,997
-
3 · Grants to foreign organizations and individuals
total $19,500 · program services $19,500
-
5 · Compensation of officers, directors and key employees
total $1,136,052 · program services $382,607 · management and general $753,445
-
7 · Other salaries and wages
total $9,158,448 · program services $7,715,509 · management and general $1,442,939
-
8 · Pension plan contributions
total $410,015 · program services $332,567 · management and general $77,448
-
9 · Other employee benefits
total $1,331,388 · program services $1,039,325 · management and general $286,489 · fundraising $5,574
-
10 · Payroll taxes
total $701,070 · program services $559,122 · management and general $131,893 · fundraising $10,055
-
11b · Fees: legal
total $118,406 · program services $4,633 · management and general $113,773
-
11c · Fees: accounting
total $84,790 · management and general $84,790
-
11f · Fees: investment management
total $22,762 · management and general $22,762
-
11g · Fees: other
total $4,121,601 · program services $3,402,682 · management and general $497,045 · fundraising $221,874
-
12 · Advertising and promotion
total $204,643 · program services $136,797 · management and general $63,841 · fundraising $4,005
-
13 · Office expenses
total $948,785 · program services $569,494 · management and general $349,561 · fundraising $29,730
-
14 · Information technology
total $107,741 · program services $16,772 · management and general $77,606 · fundraising $13,363
-
16 · Occupancy
total $2,163,671 · program services $1,900,539 · management and general $256,610 · fundraising $6,522
-
17 · Travel
total $381,444 · program services $233,139 · management and general $136,929 · fundraising $11,376
-
19 · Conferences, conventions and meetings
total $590,521 · program services $408,213 · management and general $154,953 · fundraising $27,355
-
20 · Interest
total $655,986 · program services $604,819 · management and general $51,167
-
22 · Depreciation, depletion and amortization
total $1,553,850 · program services $1,398,051 · management and general $155,799
-
23 · Insurance
total $555,110 · program services $522,320 · management and general $32,172 · fundraising $618
-
24a · Other expenses: CAMPUS ACTIVITIES
total $355,588 · program services $196,900 · management and general $158,332 · fundraising $356
-
24b · Other expenses: DUES & MEMBERSHIPS
total $134,642 · program services $67,633 · management and general $67,009
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,966,520 · end of year $1,743,456
-
2 · Savings and temporary cash investments
beginning of year $448,564 · end of year $1,263,100
-
3 · Pledges and grants receivable
beginning of year $508,026 · end of year $1,405,960
-
4 · Accounts receivable
beginning of year $41,150 · end of year $178,783
-
8 · Inventories for sale or use
beginning of year $76,189 · end of year $43,288
-
9 · Prepaid expenses and deferred charges
beginning of year $321,535 · end of year $449,751
-
10a · Land, buildings and equipment: cost or other basis
$36,858,696
-
10b · Land, buildings and equipment: accumulated depreciation
$7,456,174
-
10c · Land, buildings and equipment, net
beginning of year $28,833,121 · end of year $29,402,522
-
11 · Investments: publicly traded securities
beginning of year $1,718,046 · end of year $2,023,068
-
15 · Other assets
beginning of year $360,831 · end of year $404,788
-
17 · Accounts payable and accrued expenses
beginning of year $1,333,830 · end of year $1,821,992
-
19 · Deferred revenue
beginning of year $2,613,031 · end of year $1,897,355
-
20 · Tax-exempt bond liabilities
beginning of year $18,188,186 · end of year $17,753,287
-
23 · Secured mortgages and notes payable
beginning of year $363,646 · end of year $161,050
-
27 · Net assets without donor restrictions
beginning of year $9,707,156 · end of year $11,756,120
-
28 · Net assets with donor restrictions
beginning of year $2,068,133 · end of year $3,524,912
Mission and programs · 2022
Mission
BEACON COLLEGE (BEACON OR COLLEGE), A FOUR-YEAR ACCREDITED COLLEGE, SERVES STUDENTS WITH LEARNING DISABILITIES, ADHD, AND OTHER LEARNING DIFFERENCES.
Activities or mission (Part I)
FOUR-YEAR ACCREDITED COLLEGE SERVING STUDENTS WITH LEARNING DISABILITIES & DIFFERENCES
-
BEACON WAS FOUNDED BY PARENTS IN ORDER TO MAKE A SUPERIOR HIGHER EDUCATION ACCESSIBLE TO STUDENTS WITH LEARNING DIFFERENCES. WHEN ESTABLISHED IN 1989, THE COLLEGE WAS GRANTED THE APPROVAL OF THE FLORIDA DEPARTMENT OF EDUCATION TO OFFER A FOCUSED LIBERAL ARTS-BASED CURRICULUM ALIGNED SPECIFICALLY TO THE LEARNING STYLES, SPECIALIZED INSTRUCTIONAL, AND LIFESTYLE DEVELOPMENT NEEDS OF THESE STUDENTS. BEACON IS A FULLY ACCREDITATED FOUR-YEAR PRIVATE LIBERAL ARTS COLLEGE FOR STUDENTS SEEKING BACHELOR'S DEGREES.
Expenses $27,289,317 · Grants $7,798,195 · Revenue $31,705,457
As filed on the 2022 return.
Listed in Part VII
-
Dr Daniel AverbeckDR DANIEL AVERBECK
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 8
-
Dr Mark GriffinDR MARK GRIFFIN
VICE CHAIR - THRU 10/22; TRUSTEE
- Total calculated
- $0
- Hours/week
- 6
-
Sarah FlanaganSARAH FLANAGAN
SEC/TRS-THRU 10/22;VICE CHAIR 10/22
- Total calculated
- $0
- Hours/week
- 6
-
John RogersJOHN ROGERS
TRUSTEE; SEC/TREAS - AS OF 10/22
- Total calculated
- $0
- Hours/week
- 6
-
Dr Jennifer BraatenDR JENNIFER BRAATEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
John R GillJOHN R GILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Dr Sheldon H HorowitzDR SHELDON H HOROWITZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Nancy D JudgeNANCY D JUDGE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Jennifer KnopfJENNIFER KNOPF
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Dr Alfred MoffettDR ALFRED MOFFETT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Debbie ResnickDEBBIE RESNICK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Hugh W Thompson IIIHUGH W THOMPSON III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Charo UcedaCHARO UCEDA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 4
-
Dr George J HagertyDR GEORGE J HAGERTY
PRESIDENT
- Total calculated
- $489,629
- From this org
- $382,132
- From related orgs
- $0
- Other
- $107,497
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $332,653
- Bonus
- $10,043
- Other
- $39,436
- Deferred
- $68,238
- Nontaxable benefits
- $39,259
- Filer's total
- $489,629
-
Shelly ChandlerSHELLY CHANDLER
PROVOST
- Total calculated
- $203,794
- From this org
- $171,537
- From related orgs
- $0
- Other
- $32,257
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $171,537
- Bonus
- $0
- Other
- $0
- Deferred
- $4,287
- Nontaxable benefits
- $27,970
- Filer's total
- $203,794
-
Sandi RysellSANDI RYSELL
CFO - THRU 5/23
- Total calculated
- $149,083
- From this org
- $122,913
- From related orgs
- $0
- Other
- $26,170
- Hours/week
- 50
-
Brent BetitBRENT BETIT
COO
- Total calculated
- $142,801
- From this org
- $142,801
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Dr Fred GoreDR FRED GORE
CFO - AS OF 5/23
- Total calculated
- $0
- Hours/week
- 50
-
Dale HeroldDALE HEROLD
VP OF ADMISSIONS & ENROLLMENT
- Total calculated
- $201,056
- From this org
- $166,776
- From related orgs
- $0
- Other
- $34,280
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $161,264
- Bonus
- $5,512
- Other
- $0
- Deferred
- $4,175
- Nontaxable benefits
- $30,105
- Filer's total
- $201,056
-
Richard KillionRICHARD KILLION
VP OF INSTITUTIONAL ADVANCEMENT
- Total calculated
- $179,600
- From this org
- $141,853
- From related orgs
- $0
- Other
- $37,747
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $141,853
- Bonus
- $0
- Other
- $0
- Deferred
- $7,002
- Nontaxable benefits
- $30,745
- Filer's total
- $179,600
-
Alexander Morris-WoodALEXANDER MORRIS-WOOD
VP OF PROG. DEV. & GLOBAL PTRSHP
- Total calculated
- $142,238
- From this org
- $132,781
- From related orgs
- $0
- Other
- $9,457
- Hours/week
- 50
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 · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- DR. GEORGE J. HAGERTY - HOUSING ALLOWANCE WAS INCLUDED IN HIS TAXABLE INCOME.
- PART I, LINE 7
- THE PRESIDENT'S ANNUAL BONUS IS BASED UPON AN ASSESSMENT DONE BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AS PART OF HIS ANNUAL ASSESSMENT. IT IS NOT SET IN AMOUNT, BUT IS DETERMINED AT THE TIME OF ASSESSMENT BY THE COMMITTEE TAKING INTO CONSIDERATION THE GOALS PROVIDED AND RESULTS ACHIEVED BY THE PRESIDENT AND THE COLLEGE. WHILE THE PROFITABILITY AND FINANCIAL WELL-BEING OF THE COLLEGE IS AN IMPORTANT FACTOR IN THE COMMITTEE'S ASSESSMENT, IT IS ONE OF SEVERAL FACTORS INVOLVED. THE VP OF ADMISSIONS AND ENROLLMENT'S ANNUAL BONUS IS DETERMINED BY THE PRESIDENT AS PART OF HIS ASSESSMENT AND THE COLLEGE'S SUCCESS AT INCREASING ENROLLMENT AND ADMINISTERING READINESS PROGRAMS THAT FEED INTO THE COLLEGE'S UNDERGRADUATE ENROLLMENT. HER BONUS IS NOT TIED TO SPECIFIC FINANCIAL COMPONENTS.
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.
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 TRUST (1)
TRUST · FL · controlled entity
Directly controlled by BEACON COLLEGE INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401349349304290
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