Civic Intelligence

Berea College Leverage Lender Inc.

EIN 85-3642997 • 501(c)3 • Berea, KY

Pub. 78 Eligible

Profile

Berea college leverage lender, inc. Was organized by berea college to facilitate a new markets tax credit financing transaction to partially fund the construction of the college's facilities management and student labor complex.

101 Chestnut StreetBerea, KY 40404

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

93rd percentile

0.97x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

100.00x

Higher debt load relative to revenue than 100% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

100th percentile

6111%

Faster asset growth than 100% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

34th percentile

0.0%

Faster revenue growth than 34% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$5,964,762

Up $57,545 (+1.0%) from 2023

Liabilities

Flat

$5,754,561

Flat from 2023

Net Assets

Up

$210,201

Up $57,545 (+38%) from 2023

Operations
Liabilities / Revenue100th percentileNet Margin100th percentile

Revenue

Down

$57,545

Down $1 (-0.0%) from 2023

Expenses

Flat

$0

Flat from 2023

Net Income

Down

$57,545

Down $1 (-0.0%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth100th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2022: $95,110Liabilities 2022: $0Net Assets 2022: $95,1102022Assets 2023: $5,907,217Liabilities 2023: $5,754,561Net Assets 2023: $152,6562023Assets 2024: $5,964,762Liabilities 2024: $5,754,561Net Assets 2024: $210,2012024

Highlighted filing

2024

Assets$5,964,762
Liabilities$5,754,561
Net Assets$210,201
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60K$40K$20K$0Revenue 2022: $57,546Expenses 2022: $0Net Income 2022: $57,5462022Revenue 2023: $57,546Expenses 2023: $0Net Income 2023: $57,5462023Revenue 2024: $57,545Expenses 2024: $0Net Income 2024: $57,5452024

Highlighted filing

2024

Revenue$57,545
Expenses$0
Net Income$57,545
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,964,762
Liabilities
$5,754,561
Net assets
$210,201
Revenue
$57,545
Expenses
$0
Net income
$57,545
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.96$5.75$0.21$0.06$0.00$0.06
2023Detailed filing. Detailed filing data is available for this year.$5.91$5.75$0.15$0.06$0.00$0.06
2022Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.06$0.00$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$57,545
Mission and Program Overview

Mission

Berea college leverage lender, inc., was formed to facilitate a new markets tax credit financed transaction that will be used to construct a new facilities management and student labor complex on the the campus of berea college.

To facilitate a New Markets Tax Credit financing transaction to partially fund the construction of the College's Facilities Management and Student Labor Complex

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$5,754,561$5,754,561→ $0
Cash and Non-Interest-Bearing Accounts$152,656$210,201▲ $57,545
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$5,907,217$5,964,762▲ $57,545
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,754,561$5,754,561→ $0
Other Liabilities$0$0→ $0
Total Liabilities$5,754,561$5,754,561→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$152,656$210,201▲ $57,545
Total Net Assets Fund Balance$152,656$210,201▲ $57,545
Total Liabilities and Net Assets / Fund Balance$5,907,217$5,964,762▲ $57,545
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Nixon Cheryl L Started July 2023President (president of Berea College)
Roelofs Lyle DPresident Emeritus (president Emeritus of Berea College)
Fraley BruceDirector
Wilson Ii Judge BSecretary (general Counsel of Berea College)
Amburgey Jeffrey STreasurer (VP for Finance of Berea College)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$57,545
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$57,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

“LYLE D. ROELOFS, JUDGE B. WILSON II, JEFFREY S. AMBURGEY, CHERYL L. NIXON - Business relationship”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“Form 990 is reviewed by all officers and directors of the corporation prior to the filing date of the form 990.”

Form 990, Part VI, Line 12C Conflict of interest policy

“Berea college leverage lender is covered by the berea college conflict of interest policy. Berea college (the college) maintains a conflict of interest policy applicable to directors and institutional officers. All directors and institutional officers receive copies of the policy and a disclosure statement on an annual basis. The disclosure statement must be completed by all directors and officers regardless of the presence of a conflict. In addition to the annual disclosure, the policy requires the disclosure statement to be updated whenever the director or officer becomes aware of a new or anticipated conflict of interest transaction that has not been previously reported. Completed disclosure statements are forwarded by the vice president for finance to the president of the college and the chair of the audit committee of the board of directors. Any conflict of interest transaction or other matter reported by a director or officer is then addressed in accordance with the policy.”

Form 990, Part VI, Line 19 Required documents available to the public

“The organization's governing documents are available to the public upon request. The conflict of interest policy and financial statements are available via berea college's website.”

Filing and Contact Details

Filer

Filer Name
Berea College Leverage Lender Inc
EIN
85-3642997
Phone
8599853758
Address
101 Chestnut Street, Berea, KY 40404

Signing Officer

Name
Jeffrey Amburgey
Title
Treasurer
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
2020
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
1
Employees
0
Volunteers
5

Preparer

Firm
Crowe Llp
Address
4801 Olympia Park Plaza Suite 4000, Louisville, KY 40241-2098
Preparer
Rachel Spurlock
Phone
5023263996
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“BEREA COLLEGE Leverage Lender, Inc. IS PART OF THE CONSOLIDATED FINANCIAL STATEMENT AUDIT FOR BEREA COLLEGE. BELOW IS THE FOOTNOTE WITHIN THOSE CONSOLIDATED AUDITED FINANCIALS. GAAP requires the College to evaluate tax positions taken by the College and recognize a tax liability (or asset) if the College has taken an uncertain position that more likely than not would be sustained upon examination by the IRS. The College has analyzed the tax positions taken by the College and has concluded that there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. The College would recognize interest and penalties related to uncertain tax positions in interest and income tax expense, respectively. The College does not have an amount accrued for interest or penalties as of June 30, 2024 or 2023. The College is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax periods in progress. The College believes it is no longer subject to income tax examinations for years prior to 2021.”

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ROELOFS LYLE D
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1NIXON CHERYL L STARTED JULY 2023
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2WILSON II JUDGE B
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3AMBURGEY JEFFREY S
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT EMERITUS (PRESIDENT EMERITUS OF BEREA COLLEGE)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT (PRESIDENT OF BEREA COLLEGE)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2SECRETARY (GENERAL COUNSEL OF BEREA COLLEGE)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3TREASURER (VP FOR FINANCE OF BEREA COLLEGE)
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0The Organization does not have any officers other than persons who are employed and compensated by Berea College. The compensation of the Organization's top management officials are determined by Berea College, a related organization. Berea College uses the following: Compensation Committee, compensation survey or study, and approval by the Board or Compensation Committee.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LYLE D. ROELOFS, JUDGE B. WILSON II, JEFFREY S. AMBURGEY, CHERYL L. NIXON - Business relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY ALL OFFICERS AND DIRECTORS OF THE CORPORATION PRIOR TO THE FILING DATE OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BEREA COLLEGE LEVERAGE LENDER IS COVERED BY THE BEREA COLLEGE CONFLICT OF INTEREST POLICY. BEREA COLLEGE (THE COLLEGE) MAINTAINS A CONFLICT OF INTEREST POLICY APPLICABLE TO DIRECTORS AND INSTITUTIONAL OFFICERS. ALL DIRECTORS AND INSTITUTIONAL OFFICERS RECEIVE COPIES OF THE POLICY AND A DISCLOSURE STATEMENT ON AN ANNUAL BASIS. THE DISCLOSURE STATEMENT MUST BE COMPLETED BY ALL DIRECTORS AND OFFICERS REGARDLESS OF THE PRESENCE OF A CONFLICT. IN ADDITION TO THE ANNUAL DISCLOSURE, THE POLICY REQUIRES THE DISCLOSURE STATEMENT TO BE UPDATED WHENEVER THE DIRECTOR OR OFFICER BECOMES AWARE OF A NEW OR ANTICIPATED CONFLICT OF INTEREST TRANSACTION THAT HAS NOT BEEN PREVIOUSLY REPORTED. COMPLETED DISCLOSURE STATEMENTS ARE FORWARDED BY THE VICE PRESIDENT FOR FINANCE TO THE PRESIDENT OF THE COLLEGE AND THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. ANY CONFLICT OF INTEREST TRANSACTION OR OTHER MATTER REPORTED BY A DIRECTOR OR OFFICER IS THEN ADDRESSED IN ACCORDANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE VIA BEREA COLLEGE'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2 Family/business relationships amongst interested persons
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19 Required documents available to the public
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1Berea College
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2Berea College
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Berea College
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Berea Interchange Development Corp
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2Berea College Science and Health Foundation Inc
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Post Secondary Education
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Holds Land
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2Real Estate Holding
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1Type II
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0Lincoln hall Suite 220
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1Lincoln Hall Suite 220
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2Lincoln Hall Suite 220
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Berea
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2Berea
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