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Nonprofiteer
← MARANATHA BAPTIST UNIVERSITY INC

Form 990 for tax year 2023

Filed by MARANATHA BAPTIST UNIVERSITY INC.

Totals

Total revenue
$17,194,200
Total expenses
$18,269,529
Contributions and grants received
$1,078,515
Grants paid
$1,878,305
Program service revenue
$15,242,642
Investment income
$143,064
Other revenue
$729,979
Total assets, end of year
$22,477,582
Total liabilities, end of year
$5,775,783
Net assets or fund balances, end of year
$16,701,799
Program services expenses (Part IX)
$15,794,661
Management and general expenses
$2,347,515
Fundraising expenses
$127,353
Program service expenses (Part III)
$15,794,661

Program services were 86.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $23,270

  • 1e · Government grants (contributions)

    $36,857

  • 1f · All other contributions, gifts and grants

    $1,018,388

  • 1g · Noncash contributions included above

    $123,376

  • 2a · Program service revenue: TUITION AND FEES

    total $10,797,508 · related or exempt $10,797,508

  • 2b · Program service revenue: ROOM AND BOARD

    total $3,128,721 · related or exempt $3,128,721

  • 2c · Program service revenue: DAYCARE/PRESCHOOL

    total $576,638 · related or exempt $576,638

  • 2d · Program service revenue: ATHLETIC CAMPS

    total $118,096 · related or exempt $118,096

  • 2e · Program service revenue: PIANO STRING PREPARATORY

    total $113,418 · related or exempt $113,418

  • 2f · All other program service revenue

    total $508,261 · related or exempt $508,261

  • 3 · Investment income

    total $143,064 · related or exempt $143,064

  • 6a · Gross rents

    real property $250,668

  • 6c · Rental income or loss

    real property $250,668

  • 6d · Net rental income or loss

    total $250,668

  • 8a · Fundraising events: gross income

    $2,650

  • 8a · Fundraising events: contributions included on line 1c

    $23,270

  • 8b · Fundraising events: direct expenses

    $7,255

  • 8c · Net income from fundraising events

    total -$4,605

  • 10a · Gross sales of inventory

    $93,083

  • 10b · Cost of goods sold

    $114,984

  • 10c · Net income from sales of inventory

    total -$21,901

  • 11a · Other revenue: DOUBTFUL ACCOUNTS RECOVERY

    total $2,039 · related or exempt $2,039

  • 11b · Other revenue: MISCELLANEOUS

    total $503,778 · related or exempt $503,778

  • 11e · Other revenue, total

    $505,817

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $267,582 · program services $267,582

  • 2 · Grants to domestic individuals

    total $1,610,723 · program services $1,610,723

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $474,430 · management and general $474,430

  • 6 · Compensation of disqualified persons

    total $6,906,611 · program services $5,939,131 · management and general $913,789 · fundraising $53,691

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $2,600,367 · program services $2,126,821 · management and general $438,681 · fundraising $34,865

  • 10 · Payroll taxes

    total $467,782 · program services $387,215 · management and general $78,251 · fundraising $2,316

  • 11a · Fees: management

    total $136 · management and general $136

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $36,808 · management and general $36,808

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $147,869 · program services $147,869

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $325,871 · program services $95,571 · management and general $230,300

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $782,886 · program services $782,886

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $175,120 · management and general $175,120

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,161,896 · program services $1,161,896

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Instruction

    total $300,316 · program services $300,316

  • 24b · Other expenses: Academic Support

    total $310,895 · program services $310,895

  • 24c · Other expenses: Student Services

    total $410,598 · program services $410,598

  • 24d · Other expenses: Institutional Support

    total $823,054 · program services $786,573 · fundraising $36,481

  • 24e · All other expenses

    total $1,466,585 · program services $1,466,585

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,730,593 · end of year $1,247,809

  • 2 · Savings and temporary cash investments

    beginning of year $984,571 · end of year $98,083

  • 4 · Accounts receivable

    beginning of year $204,620 · end of year $111,776

  • 8 · Inventories for sale or use

    beginning of year $14,820 · end of year $13,634

  • 9 · Prepaid expenses and deferred charges

    beginning of year $119,596 · end of year $111,457

  • 10a · Land, buildings and equipment: cost or other basis

    $33,241,911

  • 10b · Land, buildings and equipment: accumulated depreciation

    $17,950,441

  • 10c · Land, buildings and equipment, net

    beginning of year $15,603,750 · end of year $15,291,470

  • 11 · Investments: publicly traded securities

    beginning of year $2,907,523 · end of year $3,855,027

  • 12 · Investments: other securities

    beginning of year $48,764 · end of year $48,559

  • 15 · Other assets

    beginning of year $1,705,433 · end of year $1,699,767

  • 17 · Accounts payable and accrued expenses

    beginning of year $231,201 · end of year $271,954

  • 19 · Deferred revenue

    beginning of year $67,581 · end of year $74,059

  • 23 · Secured mortgages and notes payable

    beginning of year $4,141,533 · end of year $3,800,989

  • 25 · Other liabilities

    beginning of year $1,507,742 · end of year $1,628,781

  • 27 · Net assets without donor restrictions

    beginning of year $15,387,411 · end of year $14,920,119

  • 28 · Net assets with donor restrictions

    beginning of year $1,984,202 · end of year $1,781,680

Mission and programs · 2023

Mission

THE UNIVERSITY TRAINS MEN AND WOMEN FOR EFFECTIVE GOSPEL MINISTRY IN THE LOCAL CHURCH THROUGH A HIGHER EDUCATIONAL PROGRAM OF BIBLICAL, GENERAL, AND PROFESSIONAL STUDIES.

  • THE SOLE PROGRAM SERVICE ACTIVITY IS THE OPERATION OF A CHRISTIAN UNIVERSITY AND HIGH SCHOOL 1498 MAIN CAMPUS AND ONLINE STUDENTS. ALL ACTIVITIES ARE DIRECTLY RELATED TO THIS PURPOSE. THE UNIVERSITY PRINTS PROMOTIONAL MATERIALS, A COURSE CATALOG, AND TWO EDITIONS OF A MAGAZINE ANNUALLY.

    Expenses $15,794,661 · Grants $1,878,305 · Revenue $15,242,642

As filed on the 2023 return.

Listed in Part VII

  • Dr Matthew Davis

    CEO

    Total calculated
    $192,223
    From this org
    $124,955
    From related orgs
    $0
    Other
    $67,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,955
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $69,706
    Filer's total
    $194,661

  • Mr Donald Donovan

    VP BUSINESS AFFAIRS

    Total calculated
    $120,200
    From this org
    $70,686
    From related orgs
    $0
    Other
    $49,514
    Hours/week
    40

  • Dr Marty Marriott

    CHANCELLOR

    Total calculated
    $80,555
    From this org
    $68,555
    From related orgs
    $0
    Other
    $12,000
    Hours/week
    40

  • Dr Dave Anderson

    PRESIDENT

    Total calculated
    $46,916
    From this org
    $31,916
    From related orgs
    $0
    Other
    $15,000
    Hours/week
    40

  • Dr Robert Loggans

    SECRETARY

    Total calculated
    $300
    From this org
    $300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dr David Oliver

    CHAIRMAN

    Total calculated
    $250
    From this org
    $250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Pastor Chad Prigge

    TRUSTEE

    Total calculated
    $100
    From this org
    $100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dr Michael Dean

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Mr Mark Poorman

    AT LARGE

    Total calculated
    $0
    Hours/week
    2

  • Mr Darrell Beernink

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr William Lincoln

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Kevin Ames Sr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr Michael Stoltenberg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr David Baldwin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Randy Melchert Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Zachary Mortimer

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Dr Andy Counterman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr Tim Schmig

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Stephen Burton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Randell Gillespie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr Jeremiah Cochran

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I Line 1b
The University designates a portion of ministerial cash compensation as housing allowance.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531349349306308

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