2017-02-14T09:59:44-06:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 500 ORLANDO FL 32801 990 2015-07-01 592961536 BEACON COLLEGE INC BEAC 3526389769 105 EAST MAIN STREET LEESBURG FL 34748 J OTIS VANCE TREASURER 3526389769 2017-02-13 1 AMY CHAPMAN P00843460 4078021200 2017-02-13 2015 2021-01-29 14:40:06Z GEORGE J HAGERTY 105 EAST MAIN STREET LEESBURG FL 34748 11891492 0 X WWW.BEACONCOLLEGE.EDU X 1989 FL BEACON COLLEGE, A FOUR-YEAR ACCREDITED COLLEGE, SERVES STUDENTS WITH LEARNING DISABILITIES. 12 12 192 22 0 0 1020831 748970 8874279 10581689 16020 -1954 40253 50785 9951383 11379490 0 0 0 0 5432004 6333059 0 0 338000 4309511 4821616 9741515 11154675 209868 224815 13088863 13240990 9360650 9666046 3728213 3574944 X BEACON COLLEGE, A FOUR-YEAR ACCREDITED COLLEGE, SERVES STUDENTS WITH LEARNING DISABILITIES, ADHD, AND OTHER LEARNING DIFFERENCES. 0 0 7649047 10619907 BEACON COLLEGE IS AN ACCREDITED LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION, WHICH UNIQUELY SERVES THE EDUCATIONAL NEEDS OF STUDENTS WITH LEARNING DISABILITIES, ATTENTION DEFICIT HYPERACTIVITY DISORDER, AND OTHER LEARNING DIFFERENCES. ENROLLMENT FOR SPRING 2016 INCLUDED 269 STUDENTS. FOUNDED BY A GROUP OF PARENTS COMMITTED TO MAKING THE OPTION OF A SUPERIOR HIGHER EDUCATION ACCESSIBLE TO STUDENTS WITH LEARNING DISABILITIES, ADHD AND OTHER LEARNING DIFFERENCES, BEACON COLLEGE WAS INCORPORATED ON MAY 24, 1989. AT THE TIME OF ITS ESTABLISHMENT, THE COLLEGE SOUGHT AND WAS GRANTED THE APPROVAL OF THE FLORIDA DEPARTMENT OF EDUCATION TO OFFER A FOCUSED LIBERAL ARTS-BASED CURRICULUM ALIGNED SPECIFICALLY TO THE LEARNING STYLES AND SPECIALIZED INSTRUCTIONAL AND SUPPORT NEEDS OF UNDERGRADUATES WHO LEARN DIFFERENTLY. THESE PROGRAMS LED TO THE AWARDING OF BOTH BACHELOR AND ASSOCIATE DEGREES. IN 2003, BEACON COLLEGE WAS GRANTED FULL ACCREDITATION BY THE COMMISSION ON COLLEGES OF THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS (SACSCOC) AND REAFFIRMED FOR THE FULL TEN-YEAR PERIOD IN 2008. WITH THIS ACHIEVEMENT, BEACON BECAME THE FIRST -- AND UNTIL RECENTLY, THE ONLY -- REGIONALLY ACCREDITED UNDERGRADUATE INSTITUTION OF HIGHER LEARNING IN THE UNITED STATES FOCUSED ON THE BACCALAUREATE PREPARATION OF STUDENTS WITH LEARNING DISABILITIES. THE COLLEGE'S FIRST ACADEMIC CONCENTRATION LEADING TO DEGREES AT BOTH THE BACCALAUREATE (B.A.) AND ASSOCIATE (A.A.) LEVELS WAS HUMAN SERVICES. IN 1992, BEACON ADDED A DEGREE CONCENTRATION (B.A. AND A.A.) IN LIBERAL STUDIES THAT LATER EVOLVED INTO ITS CURRENT HUMANITIES MAJOR.SINCE ACHIEVING REGIONAL ACCREDITATION, BEACON HAS ADDED BACHELOR AND ASSOCIATE DEGREES IN: BUSINESS MANAGEMENT (2012), COMPUTER INFORMATION SYSTEMS WITH TRACKS IN INFORMATION TECHNOLOGY AND WEB & DIGITAL MEDIA (2005), PSYCHOLOGY (2012), STUDIO ARTS (2013), AND ANTHROZOOLOGY (2016). IN THE ARENA OF BUSINESS MANAGEMENT, THE COLLEGE OFFERS A TRACK IN HOSPITALITY MANAGEMENT AND A MINOR IN ENTREPRENEURSHIP. IN THE SUMMER OF 2016, SACSCOC GRANTED BEACON COLLEGE THE AUTHORITY TO AWARD BOTH BACHELOR OF SCIENCE AND ASSOCIATE OF SCIENCE DEGREES AS WELL IN THE CONCENTRATIONS OF BUSINESS MANAGEMENT, COMPUTER INFORMATION SYSTEMS, AND ANTHROZOOLOGY. BEACON'S ENDURING LEGACY IS THE NATION-LEADING OUTCOMES OF OUR GRADUATES. BEACON'S GRADUATION RATE OF 69% FAR EXCEEDS THE NATIONAL AVERAGE FOR STUDENTS WITH LEARNING DISABILITIES AS WELL AS THE NATIONAL AVERAGE FOR STUDENTS WITHOUT A LEARNING DISABILITY. BEACON COLLEGE GRADUATES HAVE AN EMPLOYMENT AND CONTINUING EDUCATION RATE OF 70%. THESE EXCEPTIONAL OUTCOMES HAVE GAINED THE COLLEGE NATIONAL RECOGNITION. 7649047 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 38 0 192 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X OTIS VANCE 3526389769 105 EAST MAIN STREET LEESBURG FL 34748 EILEEN MARINAKIS RN APN BOARD CHAIR 1.00 X X 0 0 0 BRIAN T COBB VICE CHAIR 1.00 X X 0 0 0 HUGH W THOMPSON III SECRETARY 1.00 X X 0 0 0 DR DANIEL AVERBECK TRUSTEE 1.00 X 0 0 0 SAM BATTAGLIA TRUSTEE 1.00 X 0 0 0 SARAH FLANAGAN TRUSTEE 1.00 X 0 0 0 NANCY JUDGE TRUSTEE 1.00 X 0 0 0 STEVE LATHAM TRUSTEE 1.00 X 0 0 0 DEBBIE RESNICK TRUSTEE 1.00 X 0 0 0 DR POLA ROSEN TRUSTEE 1.00 X 0 0 0 BRUCE VINCENT TRUSTEE 1.00 X 0 0 0 DR JAY YADAV TRUSTEE 1.00 X 0 0 0 DAVID KNOWLES END - 0915 TRUSTEE 1.00 X 0 0 0 JOHN WEISS END - 0715 TRUSTEE 1.00 X 0 0 0 DR GEORGE J HAGERTY PRESIDENT 40.00 X 221855 0 16207 ROBERT BRIDGEMAN END - 0616 VICE PRESIDENT 40.00 X 123496 0 6853 CAL SANSON END - 0416 TREASURER 40.00 X 83131 0 13043 JAMES OTIS VANCE TREASURER 40.00 X 0 0 0 DR SHELLY CHANDLER SECRETARY 40.00 X 95955 0 13906 524437 0 50009 2 0 1 0 0 748970 748970 TUITION & FEES 611310 7786176 7786176 ROOM AND BOARD FEES 611310 2576172 2576172 FOOD SERVICE REVENUE 611310 120065 120065 STUDENT SERVICE FEES 611310 99276 99276 10581689 6800 6800 21903 0 21903 21903 9336 12567 424531 433285 -8754 -8754 -8754 101280 78717 22563 22563 OTHER REVENUE 900099 6319 6319 6319 11379490 10619907 0 10613 601627 170545 333117 97965 4683634 3290106 1393528 148943 121595 23906 3442 463207 321678 132423 9106 435648 288387 139097 8164 41731 41731 38724 38724 2439 2439 197655 38717 158938 252148 200 251948 8788 4646 4142 147797 96215 51582 704726 611339 93387 208578 31018 177560 49076 13093 35983 393846 384870 8976 803957 792738 11219 152857 148737 4120 GEN. ADMIN EXPENSES 891177 554737 117117 219323 FOOD PURCHASES 344833 344337 496 REPAIRS & MAINTENANCE 236033 229606 6427 OPERATING SUPPLIES 205721 156249 49472 141530 50234 91296 11154675 7649047 3167628 338000 326381 401581 4138 244262 532187 749608 272855 80675 99505 15209574 3881374 11016006 11328200 161173 229526 87120 75901 663762 56973 13088863 13240990 317590 326673 794584 1241911 7321947 6928676 500000 426529 1168786 9360650 9666046 X 2839785 2459665 817428 1044279 71000 71000 3728213 3574944 13088863 13240990 X 224815 -155427 -169534 -53123 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 53 53 0 PART II-B, LINE 11I THE ORGANIZATION PAID MEMBERSHIP DUES TO NAICU THAT ENGAGES IN LOBBYING ACTIVITIES. X X 0 73210 1745 74955 56217 15000 1993 73210 50000 6000 217 56217 50000 50000 50000 50000 1.00000 0 0 955946 955946 10544882 2114249 8430633 604393 130860 473533 2675694 1319816 1355878 428659 316449 112210 11328200 INTEREST RATE SWAP LIABILITY 358502 CAPITAL LEASE OBLIGATION 391858 ACCRUED LIABILITIES 418426 1168786 X 11397260 7180 25594 32774 11364486 2437 12567 15004 11379490 11380995 241324 241324 11139671 2437 12567 15004 11154675 PART III, LINE 1A: COLLECTION ITEMS CONSIST OF ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED, CARED FOR, AND KEPT UNENCUMBERED. ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PART V, LINE 4: THE ORGANIZATION INTENDS TO USE ITS ENDOWMENTS TO PROVIDE FUNDS FOR FUTURE SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE IS SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AND HAS NOT RECORDED ANY OBLIGATIONS FOR UNRELATED BUSINESS INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -53,123. COST OF GOODS SOLD REPORTED ON THE REVENUE PAGE 78,717. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION REVENUE - BIKE WEEKEND 12,567. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP 162,607. COST OF GOODS SOLD REPORTED ON THE REVENUE PAGE 78,717. PART XII, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION REVENUE - BIKE WEEKEND 12,567. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 BEACON COLLEGE'S POLICY IS STATED IN ALL ADVERTISING/NEWS RELEASES AT THE START OF THE SCHOOL YEAR. X 1 1 X X X X 1 0 0 0 0 0 0 0 0 DR GEORGE J HAGERTY PRESIDENT 188924 0 0 0 32931 0 9930 0 6277 0 238062 0 0 0 PART I, LINE 3 BEACON COLLEGE ESTABLISHES DIRECTOR COMPENSATION USING ALL OF THE FOLLOWING ELEMENTS: (1) REVIEW AND APPROVAL BY INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. PART I, LINE 4A ROBERT BRIDGEMAN - $17,776 SEVERANCE PAYMENT; CAL SANSON - $14,392 SEVERANCE PAYMENT. FORM 990, PART VI, SECTION B, LINE 11 BOARD OF TRUSTEES MEMBERS ARE PROVIDED A DRAFT COPY OF THE FORM 990 FOR THEIR REVIEW, CHANGES NOTED BY MEMBERS ARE MADE AS NECESSARY, AND THE FINAL FORM 990 IS THEN FILED UPON SIGNATURE OF AN AUTHORIZED OFFICER. FORM 990, PART VI, SECTION B, LINE 12C INCLUDED IN THE POLICIES AND PROCEDURES MANUAL AND IS REVIEWED ANNUALLY. DURING BOARD OF TRUSTEES MEETINGS, ANY POTENTIAL CONFLICTS OF INTEREST REQUIRED TO BE DISCLOSED BY OFFICERS/KEY EMPLOYEES ARE REVIEWED AND FURTHER ACTION IS TAKEN IF NECESSARY AND DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING CEO AND TOP MANAGEMENT COMPENSATION INCUDES ALL OF THESE ELEMENTS: (1) REVIEW AND APPROVAL BY INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THE BOARD OF TRUSTEES VOTES ON COMPENSATION PACKAGES FOR OFFICER AND KEY EMPLOYEE COMPENSATION, USING COMPARABILITY DATA FROM SIMILAR EXEMPT ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST FOR A REASONABLE COPYING CHARGE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE SPLIT INTEREST AGREEMENT -53,123. FORM 990, PART XII, LINE 2C: THE BOARD OF TRUSTEES HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS.