Bethany Lutheran College & Seminary Inc
- Assets
- $102.7m
- Revenue
- $36.6m
- Investments
- $11.8m
- Employees
- 647
- Location
- Mankato, MN
- Founding
- 03/1966
- Data as of
- 06/2022
- EIN
- 41-0747165
Organization Overview
Bethany Lutheran College & Seminary Inc is located in Mankato, MN. The organization was established in 1966. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Bethany Lutheran College & Seminary Inc employed 647 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethany Lutheran College & Seminary Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Bethany Lutheran College & Seminary Inc generated $36.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $33.3m during the year ending 06/2022. While expenses have increased by 5.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 2021-2022 ACADEMIC YEAR ENROLLMENT WAS 710 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 652 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2021-2022 ACADEMIC YEAR, 138 MET THE REQUIREMENTS OF GRADUATION.
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.
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, 65% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 422 STUDENTS RESIDED IN CAMPUS HOUSING IN THE 2021-2022 FALL SEMESTER AND 390 IN THE SPRING SEMESTER.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Gene R Pfeifer College President | Officer | 40 | $171,410 |
Daniel L Mundahl Senior VP Of Fin & Admin/treasurer | Officer | 40 | $119,085 |
Rev Gaylin Schmeling Seminary President | Officer | 40 | $96,794 |
Gregory Costello Controller/asst. Treasurer | Officer | 40 | $74,564 |
Rev Herbert Huhnerkoch Chairman-Board Of Regents | OfficerTrustee | 1 | $0 |
Rev Mark Bartels Vice-Chair-Board Of Regent | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securitas Security Services Usa Inc Security Services | 6/29/22 | $189,239 |
Isg Schematic Design/professional Services | 6/29/22 | $375,158 |
Robert W Carlstrom Co Inc Construction Services | 6/29/22 | $5,522,834 |
Pioneer College Caterers Food Service | 6/29/22 | $1,085,330 |
Lake Crystal Coaches Busing Services | 6/29/22 | $141,718 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $9,271 |
| Related organizations | $0 |
| Government grants | $1,412,984 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,500,442 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,922,697 |
| Total Program Service Revenue | $22,580,023 |
| Investment income | $904,550 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $528,005 |
| Net Rental Income | $26,146 |
| Net Gain/Loss on Asset Sales | $3,099,197 |
| Net Income from Fundraising Events | $46,162 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,614,308 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,203,506 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $962,619 |
| Compensation of current officers, directors, key employees. | $600,884 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,049,630 |
| Pension plan accruals and contributions | $393,044 |
| Other employee benefits | $1,483,546 |
| Payroll taxes | $595,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,250 |
| Fees for services: Accounting | $74,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,315 |
| Fees for services: Other | $2,089,732 |
| Advertising and promotion | $196,315 |
| Office expenses | $918,718 |
| Information technology | $359,374 |
| Royalties | $0 |
| Occupancy | $959,612 |
| Travel | $835,060 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,680 |
| Interest | $525,095 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,277,521 |
| Insurance | $216,787 |
| All other expenses | $0 |
| Total functional expenses | $33,300,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,538,394 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $98,269 |
| Accounts receivable, net | $378,851 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $145,422 |
| Inventories for sale or use | $181,432 |
| Prepaid expenses and deferred charges | $50,373 |
| Net Land, buildings, and equipment | $48,512,085 |
| Investments—publicly traded securities | $35,663,718 |
| Investments—other securities | $11,768,141 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,351,743 |
| Total assets | $102,688,428 |
| Accounts payable and accrued expenses | $1,083,298 |
| Grants payable | $0 |
| Deferred revenue | $86,327 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,466,007 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,185,817 |
| Total liabilities | $17,821,449 |
| Net assets without donor restrictions | $36,849,004 |
| Net assets with donor restrictions | $48,017,975 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $102,688,428 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bethany Lutheran College & Seminary Inc has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Valley News Charity Fund Mankato, MN PURPOSE: UNRESTRICTED GENERAL USE | $1,500 |
Endowment Analysis
| Beg. Balance | $52,654,110 |
| Earnings | -$4,867,915 |
| Net Contributions | $2,513,014 |
| Grants | $2,266,035 |
| Ending Balance | $48,033,174 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bethany Lutheran College & Seminary Inc Mankato, MN | $102,688,428 | $36,614,308 |
Cankdeska Cikana Community College Fort Totten, ND | $31,882,184 | $15,734,265 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
Red Lake Nation College Red Lake, MN | $10,975,659 | $17,279,436 |
Kirkwood Community College Foundation Cedar Rapids, IA | $43,540,342 | $11,748,704 |
Southeastern Community College Foundation West Burlington, IA | $16,375,654 | $3,936,639 |
Indian Hills Community College Foundation Ottumwa, IA | $33,459,627 | $8,575,991 |
Lake Region Community College Foundation Of Devils Lake Devils Lake, ND | $13,641,556 | $1,219,808 |
Century College Foundation White Bear Lake, MN | $6,516,249 | $2,262,212 |
Hawkeye Community College Foundation Waterloo, IA | $15,853,413 | $2,723,204 |
Chippewa Valley Technical College Foundation Inc Eau Claire, WI | $5,540,693 | $406,429 |