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← BUSINESS-HIGHER EDUCATION FORUM

Form 990 for tax year 2022

Filed by BUSINESS-HIGHER EDUCATION FORUM.

Totals

Total revenue
$2,265,691
Total expenses
$2,837,937
Contributions and grants received
$1,245,584
Grants paid
$0
Program service revenue
$1,014,138
Investment income
$5,969
Other revenue
$0
Total assets, end of year
$2,524,066
Total liabilities, end of year
$1,587,355
Net assets or fund balances, end of year
$936,711
Program services expenses (Part IX)
$2,036,143
Management and general expenses
$801,794
Fundraising expenses
$0
Program service expenses (Part III)
$2,036,143

Program services were 71.7% 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.

  • 1f · All other contributions, gifts and grants

    $1,245,584

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $1,014,138 · related or exempt $1,014,138

  • 3 · Investment income

    total $19,153 · excluded $19,153

  • 7a · Gross sales of assets other than inventory

    securities $350,000

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

    securities $363,184

  • 7c · Gain or loss

    securities -$13,184

  • 7d · Net gain or loss

    total -$13,184 · excluded -$13,184

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $281,151 · program services $112,460 · management and general $168,691

  • 7 · Other salaries and wages

    total $1,421,681 · program services $1,153,779 · management and general $267,902

  • 8 · Pension plan contributions

    total $70,307 · program services $57,977 · management and general $12,330

  • 9 · Other employee benefits

    total $46,016 · program services $40,685 · management and general $5,331

  • 10 · Payroll taxes

    total $120,708 · program services $90,567 · management and general $30,141

  • 11b · Fees: legal

    total $38,253 · management and general $38,253

  • 11c · Fees: accounting

    total $16,550 · program services $11,055 · management and general $5,495

  • 11g · Fees: other

    total $482,179 · program services $318,460 · management and general $163,719

  • 13 · Office expenses

    total $95,507 · program services $66,742 · management and general $28,765

  • 14 · Information technology

    total $9,306 · program services $3,351 · management and general $5,955

  • 16 · Occupancy

    total $117,667 · management and general $117,667

  • 17 · Travel

    total $66,916 · program services $52,083 · management and general $14,833

  • 19 · Conferences, conventions and meetings

    total $56,659 · program services $56,659

  • 22 · Depreciation, depletion and amortization

    total $5,615 · management and general $5,615

  • 23 · Insurance

    total $9,422 · management and general $9,422

  • 24a · Other expenses: OVERHEAD/G&A ALLOCATION

    total $0 · program services $72,325 · management and general -$72,325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,136,005 · end of year $1,059,926

  • 2 · Savings and temporary cash investments

    beginning of year $54,132 · end of year $55,168

  • 4 · Accounts receivable

    beginning of year $26,837 · end of year $3,085

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,219 · end of year $15,190

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

    $22,074

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

    $21,932

  • 10c · Land, buildings and equipment, net

    beginning of year $5,757 · end of year $142

  • 11 · Investments: publicly traded securities

    beginning of year $871,184 · end of year $572,842

  • 15 · Other assets

    beginning of year $0 · end of year $817,713

  • 17 · Accounts payable and accrued expenses

    beginning of year $135,143 · end of year $161,059

  • 19 · Deferred revenue

    beginning of year $475,000 · end of year $545,000

  • 25 · Other liabilities

    beginning of year $55,724 · end of year $881,296

  • 27 · Net assets without donor restrictions

    beginning of year $682,644 · end of year -$8,684

  • 28 · Net assets with donor restrictions

    beginning of year $780,623 · end of year $945,395

Mission and programs · 2022

Mission

BHEF IS A MEMBERSHIP ORGANIZATION OF CORPORATE AND UNIVERSITY EXECUTIVE LEADERS THAT BUILDS PATHWAYS BETWEEN HIGHER EDUCATION AND THE WORKFORCE TO HELP EMPLOYERS FILL HIGH-DEMAND ROLES. THE BUSINESS-HIGHER EDUCATION FORUM IS A MEMBERSHIP ORGANIZATION THAT CONNECTS HIGHER EDUCATION INSTITUTIONS TO BUSINESS TALENT DEMAND. CORPORATE EXECUTIVES AND UNIVERSITY PRESIDENTS JOIN BHEF TO ANTICIPATE SKILLS NEEDS AND IMPROVE PATHWAYS BETWEEN HIGHER EDUCATION AND WORKFORCE. BHEF HELPS MEMBERS AND STRATEGIC PARTNERS: IDENTIFY HIGH-VALUE EMERGING SKILLS, DEVELOP PATHWAYS THAT QUICKLY SOURCE HIGH-VALUE TALENT, AND LEAD ACTION-ORIENTED FORUMS AND PARTNERSHIPS.

Activities or mission (Part I)

TO ADVANCE INNOVATION SOLUTIONS TO AMERICA'S EDUCATION AND WORKFORCE CHALLENGES.

  • FUNDED BY THE JPMORGAN CHASE FOUNDATION, THIS INITIATIVE PARTNERS WITH BUSINESS ROUNDTABLE (BRT) COMPANIES TO MEET THE DYNAMIC NEEDS OF BOTH EMPLOYERS AND REGIONAL ECONOMIES. BHEF SUPPORTS LEADING U.S. COMPANIES IN THEIR WORK WITH COMMUNITY COLLEGES AND FOUR-YEAR UNIVERSITIES TO OFFER APPRENTICESHIPS AND FILL HIGH-DEMAND JOBS IN FIELDS SUCH AS CYBERSECURITY, DATA ANALYTICS, SKILLED TRADES, PROFESSIONAL SERVICE ROLES AND OTHERS TAILORED TO MEET THE SPECIFIC DEMANDS OF EACH COMPANY AND REGION USING PROVEN, REPLICABLE, AND SCALABLE METHODS. THIS INITIATIVE ACCELERATES ACCESS TO TALENT, CREATES HIGH-PERFORMING PARTNERSHIPS, AND FOCUSES ON SUPPORTING DIVERSE AND TRADITIONALLY UNDERREPRESENTED GROUPS WITHIN THE WORKFORCE. IN ADDITION TO SUPPORTING THE INDIVIDUAL REGIONAL PROJECTS, BHEF CONNECTS PARTNERS AND CAPTURES LEARNING ACROSS THE DIFFERENT INITIATIVE TO SUPPORT MEMBERS AND THE BROADER WORKFORCE DEVELOPMENT FIELD.

    Expenses $780,277

  • MEMBERSHIP - BHEF INCURS EXPENSES RELATED TO THE BUSINESS OF CONDUCTING MEMBERSHIP ACTIVITY, WHICH INVOLVES RECRUITMENT, RETENTION, AND COMMUNICATION. THIS IS ACHIEVED THROUGH IN-PERSON, VIDEO AND PHONE MEETINGS, CORRESPONDENCE, AND COMMUNICATION.

    Expenses $589,153 · Revenue $1,014,138

  • FUNDED BY CONNECTICUT'S OFFICE OF WORKFORCE STRATEGY, TECH TALENT ACCELERATOR, LED BY THE BUSINESS-HIGHER EDUCATION FORUM (BHEF) AND THE NEW ENGLAND BOARD OF HIGHER EDUCATION (NEBHE) CREATES BUSINESS HIGHER EDUCATION PARTNERSHIPS THAT DEVELOP NEWLY TAILORED CREDENTIALS AVAILABLE TO CONNECTICUT'S LEARNERS IN HIGH DEMAND TECHNOLOGY FIELDS SUCH AS CLOUD COMPUTING, CYBERSECURITY, AND MOBILE APPLICATION DEVELOPMENT. BHEF SUPPORTS EDUCATORS AND BUSINESS PARTNERS WITH A COMMUNITY OF PRACTICE TO LEARN BEST PRACTICES FOR DEVELOPING INDUSTRY-VALIDATED PROGRAMS AND EMBEDDING IN-DEMAND CREDENTIALS AND A PLATFORM FOR ENGAGING WITH STATEWIDE TECH TALENT AND WORKFORCE DEVELOPMENT INITIATIVES.

    Expenses $287,627

  • FUNDED BY A STRADA GRANT TO WEST GEORGIA TECHNICAL COLLEGE (WGTC), BHEF PROVIDES TECHNICAL ASSISTANCE AND LABOR MARKET DATA FOR WGTC'S NEW ADVANCED MANUFACTURING REGIONAL TRAINING CENTER FOCUSED ON SERVING EMPLOYERS BY CLOSING THE SKILLS TALENT GAP IN THE FOUR-COUNTY REGION CLOSEST TO THE PROPOSED CENTER FACILITY. THE WORK AIMS TO ENHANCE THE EXISTING PHYSICAL CENTER TO MEET INDUSTRY PARTNER TRAINING NEEDS, EMBED INDUSTRY-DRIVEN EXPERIENTIAL LEARNING OPPORTUNITIES, ALIGN AND REFRESH PROGRAMMING AND CREDENTIALING, AND ON-BOARD STAFF TO LAUNCH, MARKET, AND SUSTAIN EMPLOYER PARTNERSHIPS. FUNDED BY THE NORTHROP GRUMMAN CORPORATION, BHEF FACILITATES WORK BETWEEN BUSINESSES, HIGHER EDUCATION INSTITUTIONS AND NON-PROFIT ORGANIZATIONS THAT PROVIDE OPPORTUNITIES FOR DIVERSE AND UNDER-REPRESENTED POPULATIONS TO PREPARE FOR CAREERS IN EMERGING SKILL AREAS.CONFERENCES BHEF CONDUCTS SEMI-ANNUAL MEMBER CONFERENCES TO SUSTAIN THE CONTINUING DIALOGUE BETWEEN ITS CORPORATE AND ACADEMIC MEMBERS AND FOUNDATION AND STRATEGIC PARTNERS ON ISSUES RELATED TO THE HIGHER EDUCATION, BUSINESS TALENT NEEDS, AND WORKFORCE DEVELOPMENT. POLICY-MAKERS FROM STATE AND FEDERAL GOVERNMENTS ARE OFTEN INVITED TO PARTICIPATE IN THESE DISCUSSIONS. ACADEMIC, BUSINESS, AND PHILANTHROPIC LEADERS AT THE CUTTING-EDGE OF TECHNOLOGIES AND EDUCATIONAL PROGRAMMING PARTICIPATE. MANY GIVE PRESENTATIONS ON SUCCESSFUL LOCAL EDUCATIONAL EFFORTS THAT MAY BE APPLICABLE ON A BROADER REGIONAL OR NATIONAL SCALE. BHEF ALSO HOSTS VIRTUAL AND IN-PERSON CONVENINGS ON TOPICS AT THE INTERSECTION OF BUSINESS AND HIGHER EDUCATION.

    Expenses $379,086

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

Listed in Part VII

  • Brian A Napack

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Timothy D Sands

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Joseph E Aoun

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey D Armstrong

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brandon Busteed

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John J Degioia

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Wayne A I Frederick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lisa Gevelber

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Harris End Jan 23

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Laura K Ipsen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Earl F Marty Martin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steve Nordlund End Nov 22

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ryan Oakes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Judy D Olian

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jay A Perman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Madeline Pumariega

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Papazian

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Brian K Fitzgerald

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $358,089
    From this org
    $324,199
    From related orgs
    $0
    Other
    $33,890
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,199
    Bonus
    $0
    Other
    $0
    Deferred
    $19,452
    Nontaxable benefits
    $14,438
    Filer's total
    $358,089

  • Bruce Gardner

    VP OF MEMBERSHIP

    Total calculated
    $225,162
    From this org
    $210,662
    From related orgs
    $0
    Other
    $14,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,662
    Bonus
    $0
    Other
    $0
    Deferred
    $12,640
    Nontaxable benefits
    $1,860
    Filer's total
    $225,162

  • Stacey Brown

    SR. DIRECTOR

    Total calculated
    $190,112
    From this org
    $171,365
    From related orgs
    $0
    Other
    $18,747
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,365
    Bonus
    $12,000
    Other
    $0
    Deferred
    $10,252
    Nontaxable benefits
    $8,495
    Filer's total
    $190,112

  • Jennifer Thornton

    VP OF PROGRAMS

    Total calculated
    $191,065
    From this org
    $169,458
    From related orgs
    $0
    Other
    $21,607
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,458
    Bonus
    $0
    Other
    $0
    Deferred
    $10,168
    Nontaxable benefits
    $11,439
    Filer's total
    $191,065

  • Janet Chen

    DIRECTOR

    Total calculated
    $152,205
    From this org
    $137,629
    From related orgs
    $0
    Other
    $14,576
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $7,629
    Other
    $0
    Deferred
    $8,258
    Nontaxable benefits
    $6,318
    Filer's total
    $152,205

  • Frank J Avery

    DIRECTOR

    Total calculated
    $147,060
    From this org
    $130,833
    From related orgs
    $0
    Other
    $16,227
    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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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 3
THE BOARD OF DIRECTORS APPROVES CEO COMPENSATION BASED A NUMBER OF FACTORS. INDEPENDENT CONSULTANT, COMPENSATION STUDIES, COMMITTEE RECOMMENDATIONS AND AFTER ASSESSED MUST BE APPROVED BY THE BOARD AND IS INCORPORATED INTO A WRITTEN CONTRACT.
PART I, LINE 7
DISCRETIONARY BONUSES ARE BASED ON EMPLOYEE PERFORMANCE EVALUATIONS AND SUBJECT TO APPROVAL. BONUSES ARE PAID OUT IN 2 PAYMENTS DURING THE YEAR OF APPROVAL.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 March 2024
IRS schema version
2022v5.0
Source object
202440749349300544

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