Many users have asked in the forums about how to restrict their BuddyPress community areas to logged in users only. Now it’s possible to make your entire BuddyPress community private with the ease of a plugin.
BuddyPress Private Community allows you to keep all casual visitors from seeing pages associated with your community, as well as widgets that may also give away community information. Users must be logged in to visit the community pages. RSS feeds are also blocked by default. The plugin also includes its own config file that will allow you to tweak the settings for which URLs are viewable by loggged-out visitors and which are not. This plugin is a quick solution for making your BuddyPress community private or simply restricting a few components.
As the BuddyPress Private Community plugin is outdated, I have thrown together one that I hope others can expand upon. Its actually just some hacks packaged as a plugin. I don’t want any credit. I just want to help the community. Here is the link to Private Community For BP:
https://github.com/bphelp/private_community_for_bp
By the way the plugin is tested from WP 3.2.1 BP 1.5.1 through WP 3.5.1 and BP 1.7 beta 1 so as long as your within this it should work as described.