Beacon College Inc
- Assets
- $31.9m
- Revenue
- $26.7m
- Investments
- $202.7k
- Employees
- 296
- Location
- Leesburg, FL
- Founding
- 12/1989
- Data as of
- 06/2021
- EIN
- 59-2961536
Organization Overview
Beacon College Inc is located in Leesburg, FL. The organization was established in 1989. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Beacon College Inc employed 296 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon College 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 06/2021, Beacon College Inc generated $26.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $25.1m during the year ending 06/2021. While expenses have increased by 14.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BEACON COLLEGE, A FOUR-YEAR ACCREDITED COLLEGE, SERVES STUDENTS WITH LEARNING DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 BACHELORS DEGREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr George J Hagerty President | Officer | 40 | $351,169 |
Shelly Chandler Provost | Officer | 40 | $154,677 |
Dale Herold VP Of Adminssions & Enrollment Mgmt | Officer | 40 | $138,065 |
Brian Cobb VP Finance & Admin/cfo | Officer | 40 | $103,479 |
James Otis Vance Through July 2020 VP Finance & Admin/cfo | Officer | 40 | $88,260 |
Mark Griffin Vice Chair | OfficerTrustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Veytec Contracted It Services | 6/29/21 | $323,815 |
Sodexo Inc & Affiliates Dining/facilities | 6/29/21 | $2,424,498 |
Schmid Construction Inc Construction Contractor | 6/29/21 | $272,719 |
Jacob P Smith Building Co Construction Services | 6/29/21 | $359,274 |
Mathias Foodservice Equipment Food Service Equipment Contractor | 6/29/21 | $227,836 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,414,012 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,259,475 |
| Noncash contributions included in lines 1a–1f | $1,540 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,673,487 |
| Total Program Service Revenue | $23,922,206 |
| Investment income | $25,594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,372 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $32,265 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,689,160 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,444,436 |
| Grants and other assistance to Foreign Orgs/Individuals | $34,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,045,582 |
| Compensation of current officers, directors, key employees. | $645,683 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,941,362 |
| Pension plan accruals and contributions | $363,948 |
| Other employee benefits | $1,203,614 |
| Payroll taxes | $575,027 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $181,695 |
| Fees for services: Accounting | $62,588 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,799 |
| Fees for services: Other | $3,096,766 |
| Advertising and promotion | $581,242 |
| Office expenses | $237,572 |
| Information technology | $219,130 |
| Royalties | $0 |
| Occupancy | $1,199,277 |
| Travel | $35,358 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $117,223 |
| Interest | $626,103 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,037,782 |
| Insurance | $293,704 |
| All other expenses | $393,581 |
| Total functional expenses | $25,054,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,491,737 |
| Savings and temporary cash investments | $6,228 |
| Pledges and grants receivable | $654,764 |
| Accounts receivable, net | $386,630 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $82,226 |
| Prepaid expenses and deferred charges | $235,036 |
| Net Land, buildings, and equipment | $26,874,379 |
| Investments—publicly traded securities | $1,700,816 |
| Investments—other securities | $202,664 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $311,200 |
| Total assets | $31,945,680 |
| Accounts payable and accrued expenses | $1,444,083 |
| Grants payable | $0 |
| Deferred revenue | $2,517,504 |
| Tax-exempt bond liabilities | $17,744,635 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $416,142 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,122,364 |
| Net assets without donor restrictions | $8,362,446 |
| Net assets with donor restrictions | $1,460,870 |
| 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 | $31,945,680 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Beacon College Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Jack Webster Grigsby Foundation Shreveport, LA PURPOSE: UNRESTRICTED | $5,000 |
Endowment Analysis
| Beg. Balance | $98,557 |
| Earnings | $22,279 |
| Ending Balance | $120,836 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Ringling College Of Art And Design Inc Sarasota, FL | $401,598,018 | $119,229,866 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |
Birmingham-Southern College Birmingham, AL | $106,162,162 | $42,694,906 |
Flagler College Inc St Augustine, FL | $205,599,935 | $73,291,832 |
Oglethorpe University Inc Atlanta, GA | $134,446,425 | $78,800,641 |
Faulkner University Montgomery, AL | $101,589,206 | $70,137,760 |
Oakwood University Inc Huntsville, AL | $115,223,075 | $64,178,393 |
Piedmont University Inc Demorest, GA | $159,118,905 | $56,789,955 |