Beacon College Inc
- Assets
- $34.3m
- Revenue
- $30.6m
- Investments
- $232.5k
- Employees
- 326
- Location
- Leesburg, FL
- Founding
- 12/1989
- Data as of
- 06/2022
- 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 06/2022, Beacon College Inc employed 326 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 06/2022, Beacon College Inc generated $30.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $28.5m during the year ending 06/2022. While expenses have increased by 14.4% 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
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 BACHELOR'S DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Daniel Averbeck Board Chair | OfficerTrustee | 8 | $0 |
Sarah Flanagan Vice Chair | OfficerTrustee | 6 | $0 |
John Rogers Sec/treasurer | OfficerTrustee | 6 | $0 |
Mark Griffin Trustee | Trustee | 4 | $0 |
Hugh W Thompson III Trustee | Trustee | 4 | $0 |
Debbie Resnick Trustee | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Veytec It Services | 6/29/22 | $754,748 |
Jacob P Smith Building Co Building Contractor | 6/29/22 | $425,823 |
Mathias Foodservice Equipment Food Service Equipment Contractor | 6/29/22 | $449,018 |
Sodexo Inc & Affiliates Dining/facilities | 6/29/22 | $2,525,362 |
Jenzabar Software Services | 6/29/22 | $400,003 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $709,124 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,490,560 |
| Noncash contributions included in lines 1a–1f | $12,085 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,199,684 |
| Total Program Service Revenue | $27,237,390 |
| Investment income | $33,601 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,027 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $28,693 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,570,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,241,552 |
| Grants and other assistance to Foreign Orgs/Individuals | $56,150 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,480,510 |
| Compensation of current officers, directors, key employees. | $728,522 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,892,701 |
| Pension plan accruals and contributions | $307,944 |
| Other employee benefits | $1,244,787 |
| Payroll taxes | $636,360 |
| Fees for services: Management | $43,665 |
| Fees for services: Legal | $257,570 |
| Fees for services: Accounting | $66,766 |
| Fees for services: Lobbying | $150 |
| Fees for services: Fundraising | $143,191 |
| Fees for services: Investment Management | $21,446 |
| Fees for services: Other | $3,386,513 |
| Advertising and promotion | $382,531 |
| Office expenses | $558,301 |
| Information technology | $271,960 |
| Royalties | $0 |
| Occupancy | $1,546,558 |
| Travel | $186,993 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $158,246 |
| Interest | $601,131 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,297,123 |
| Insurance | $396,376 |
| All other expenses | $93,891 |
| Total functional expenses | $28,524,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,966,520 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $508,026 |
| Accounts receivable, net | $41,150 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $76,189 |
| Prepaid expenses and deferred charges | $321,535 |
| Net Land, buildings, and equipment | $28,833,121 |
| Investments—publicly traded securities | $1,934,066 |
| Investments—other securities | $232,544 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $360,831 |
| Total assets | $34,273,982 |
| Accounts payable and accrued expenses | $1,333,830 |
| Grants payable | $0 |
| Deferred revenue | $2,613,031 |
| Tax-exempt bond liabilities | $18,188,186 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $363,646 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,498,693 |
| Net assets without donor restrictions | $9,707,156 |
| Net assets with donor restrictions | $2,068,133 |
| 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 | $34,273,982 |