Totals
- Total revenue
- $102,992,240
- Total expenses
- $67,180,744
- Contributions and grants received
- $38,231,850
- Grants paid
- $21,579,488
- Program service revenue
- $62,554,802
- Investment income
- $1,939,346
- Other revenue
- $266,242
- Total assets, end of year
- $128,905,473
- Total liabilities, end of year
- $30,533,116
- Net assets or fund balances, end of year
- $98,372,357
- Program services expenses (Part IX)
- $56,680,423
- Management and general expenses
- $9,604,543
- Fundraising expenses
- $895,778
- Program service expenses (Part III)
- $56,680,423
Program services were 84.4% 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.
-
1d · Related organizations
$8,328
-
1f · All other contributions, gifts and grants
$38,223,522
-
1g · Noncash contributions included above
$2,265,453
-
2a · Program service revenue: TUITION & FEES
total $49,068,543 · related or exempt $49,068,543
-
2b · Program service revenue: ROOM, BOARD, FEES
total $13,486,259 · related or exempt $13,486,259
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,931,868 · excluded $1,931,868
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $5,422,535
-
7b · Less cost or other basis and sales expenses
securities $5,415,057
-
7c · Gain or loss
securities $7,478 · other assets $0
-
7d · Net gain or loss
total $7,478 · excluded $7,478
-
11a · Other revenue: GRACE SOLUTIONS
total $110,490 · unrelated business $110,490
-
11b · Other revenue: OTHER INCOME
total $155,752 · related or exempt $155,752
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$266,242
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $21,579,488 · program services $21,579,488
-
5 · Compensation of officers, directors and key employees
total $463,807 · program services $394,236 · management and general $60,295 · fundraising $9,276
-
7 · Other salaries and wages
total $16,061,133 · program services $12,981,652 · management and general $2,621,697 · fundraising $457,784
-
8 · Pension plan contributions
total $589,641 · program services $507,091 · management and general $70,758 · fundraising $11,792
-
9 · Other employee benefits
total $2,989,746 · program services $2,589,510 · management and general $322,720 · fundraising $77,516
-
11a · Fees: management
total $2,490,003 · program services $2,490,003
-
11b · Fees: legal
total $6,967 · program services $2,408 · management and general $4,559
-
11c · Fees: accounting
total $50,500 · management and general $50,500
-
11e · Fees: professional fundraising services
total $29,327 · fundraising $29,327
-
11f · Fees: investment management
total $221,195 · management and general $221,195
-
11g · Fees: other
total $5,103,108 · program services $2,019,444 · management and general $2,987,947 · fundraising $95,717
-
12 · Advertising and promotion
total $676,013 · program services $138,866 · management and general $536,575 · fundraising $572
-
13 · Office expenses
total $1,997,934 · program services $1,590,049 · management and general $328,301 · fundraising $79,584
-
14 · Information technology
total $1,085,956 · program services $489,331 · management and general $554,416 · fundraising $42,209
-
16 · Occupancy
total $2,544,993 · program services $1,603,626 · management and general $936,444 · fundraising $4,923
-
17 · Travel
total $2,321,243 · program services $2,077,781 · management and general $207,922 · fundraising $35,540
-
19 · Conferences, conventions and meetings
total $85,077 · program services $63,267 · management and general $19,364 · fundraising $2,446
-
20 · Interest
total $1,058,864 · program services $1,058,864
-
22 · Depreciation, depletion and amortization
total $3,050,001 · program services $3,050,001
-
23 · Insurance
total $446,070 · program services $58,800 · management and general $387,270
-
24a · Other expenses: Food
total $852,190 · program services $678,273 · management and general $147,979 · fundraising $25,938
-
24b · Other expenses: Textbooks
total $784,750 · program services $784,750
-
24c · Other expenses: Memberships and Dues
total $367,562 · program services $220,725 · management and general $146,238 · fundraising $599
-
24d · Other expenses: Other
total $2,325,176 · program services $2,302,258 · management and general $363 · fundraising $22,555
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,819 · end of year $5,820
-
2 · Savings and temporary cash investments
beginning of year $10,066,385 · end of year $11,608,167
-
3 · Pledges and grants receivable
beginning of year $637,327 · end of year $3,750,747
-
4 · Accounts receivable
beginning of year $209,796 · end of year $362,294
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $2,295,424 · end of year $2,095,806
-
8 · Inventories for sale or use
beginning of year $54,051 · end of year $88,324
-
9 · Prepaid expenses and deferred charges
beginning of year $954,610 · end of year $930,793
-
10a · Land, buildings and equipment: cost or other basis
$105,391,451
-
10b · Land, buildings and equipment: accumulated depreciation
$49,231,571
-
10c · Land, buildings and equipment, net
beginning of year $51,026,069 · end of year $56,159,880
-
11 · Investments: publicly traded securities
beginning of year $26,633,510 · end of year $53,821,845
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $227,233 · end of year $81,797
-
17 · Accounts payable and accrued expenses
beginning of year $3,822,406 · end of year $4,266,186
-
18 · Grants payable
beginning of year $617,749 · end of year $311,729
-
19 · Deferred revenue
beginning of year $4,848,394 · end of year $4,959,276
-
20 · Tax-exempt bond liabilities
beginning of year $13,496,002 · end of year $12,576,587
-
21 · Escrow or custodial account liability
beginning of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $9,007,181 · end of year $8,299,053
-
25 · Other liabilities
beginning of year $274,738 · end of year $120,285
-
27 · Net assets without donor restrictions
beginning of year $18,958,358 · end of year $23,754,252
-
28 · Net assets with donor restrictions
beginning of year $41,085,396 · end of year $74,618,105
Mission and programs · 2024
Mission
GRACE COLLEGE IS AN EVANGELICAL CHRISTIAN COMMUNITY OF HIGHER EDUCATION WHICH APPLIES BIBLICAL VALUES IN STRENGTHENING CHARACTER, SHARPENING COMPETENCE, AND PREPARING FOR SERVICE. GRACE THEOLOGICAL SEMINARY IS A LEARNING COMMUNITY DEDICATED TO TEACHING, TRAINING, AND TRANSFORMING THE WHOLE PERSON FOR LOCAL CHURCH AND GLOBAL MINISTRY. AT GRACE, THE STUDENTS, ADMINISTRATION, FACULTY, AND STAFF AIM TOGETHER TO MAKE CHRIST PREEMINENT IN ALL THINGS. STUDENTS LEARN THIS BY LIVING, STUDYING, WORKING, WORSHIPING AND ACHIEVING ACADEMIC SUCCESS WITH OTHER YOUNG PEOPLE WHO SHARE SIMILAR CHRISTIAN IDEALS IN A SETTING WHERE THE COMMUNITY LIFESTYLE FOSTERS DEVOTION TO SERIOUS ACADEMIC INQUIRY, WHOLESOME RECREATION AND RELAXATION, AND MATURE SPIRITUAL GROWTH.
Activities or mission (Part I)
GRACE COLLEGE AND SEMINARY STRIVES TO BE AN EVANGELICAL CHRISTIAN COMMUNITY OF HIGHER EDUCATION.
-
INSTRUCTIONAL PROGRAMS LOCATED ON A 180 ACRE CAMPUS WITH 2 SATELLITE CAMPUSES SERVING APPROXIMATELY 2,000 UNDERGRADUATE AND GRADUATE STUDENTS IN 100+ MAJORS, MINORS, CERTIFICATES AND GRADUATE PROGRAMS. GRACE OFFERS A 3 YEAR DEGREE PROGRAM WITH OPPORTUNITY TO EARN A MASTERS DEGREE IN THE 4TH YEAR. EMPHASIS ON A BIBLICAL WORLD VIEW AND STUDENT OWNERSHIP OF PERSONAL FAITH THAT RIGHTLY HANDLES THE SCRIPTURES AS THE INERRANT AND VERBALLY INSPIRED WORD OF GOD.
Expenses $47,974,307 · Grants $21,579,488 · Revenue $49,068,543
-
AUXILIARY PROGRAMS OFFERING RESIDENTIAL HOUSING AND MEALS ON 180 ACRE CAMPUS. GRACE OFFERS 18 VARSITY SPORTS AND A VIBRANT INTRAMURAL AND CLUB SPORTING PROGRAM. GRACE HAS 15 PRIMARY STUDENT ORGANIZATIONS AND MANY ACADEMIC CLUBS.
Expenses $8,706,116 · Revenue $13,642,011
As filed on the 2024 return.
Listed in Part VII
-
Mr Daniel W RennerMR DANIEL W RENNER
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Seth NashMR SETH NASH
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Janine ZeltwangerMS JANINE ZELTWANGER
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Dr Karen WhiteDR KAREN WHITE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Cory ColmanMR CORY COLMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Daniel SandovalMR DANIEL SANDOVAL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Greg DosmannMR GREG DOSMANN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr James GradyMR JAMES GRADY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Jonathon AllenMR JONATHON ALLEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Keith MinierMR KEITH MINIER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Lamarr LarkMR LAMARR LARK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Loren NeuenschwanderMR LOREN NEUENSCHWANDER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Matt AbernethyMR MATT ABERNETHY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Mike YoderMR MIKE YODER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Quentin BlackfordMR QUENTIN BLACKFORD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Randy LakeMR RANDY LAKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Robert BishopMR ROBERT BISHOP
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mr Scott SilveusMR SCOTT SILVEUS
ASSISTANT SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Jenn AveyMRS JENN AVEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Jessica BrickerMRS JESSICA BRICKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mrs Letitia WilliamsMRS LETITIA WILLIAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ms Phyllis MarwahMS PHYLLIS MARWAH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Adam CopenhaverREV ADAM COPENHAVER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Kip ConeREV KIP CONE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr Andrew FlammDR ANDREW FLAMM
PRESIDENT OF GRACE COLLEGE
- Total calculated
- $298,723
- From this org
- $273,581
- From related orgs
- $0
- Other
- $25,142
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $246,357
- Bonus
- $18,793
- Other
- $8,431
- Deferred
- $25,142
- Nontaxable benefits
- $0
- Filer's total
- $298,723
-
Mr Doug BaumgardnerMR DOUG BAUMGARDNER
CFO
- Total calculated
- $165,085
- From this org
- $155,378
- From related orgs
- $0
- Other
- $9,707
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $148,318
- Bonus
- $7,000
- Other
- $60
- Deferred
- $9,707
- Nontaxable benefits
- $0
- Filer's total
- $165,085
-
Dr Kevin RobertsDR KEVIN ROBERTS
VP ACADEMIC AFFAIRS/PROVOST
- Total calculated
- $185,917
- From this org
- $176,168
- From related orgs
- $0
- Other
- $9,749
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $169,030
- Bonus
- $7,000
- Other
- $138
- Deferred
- $9,749
- Nontaxable benefits
- $0
- Filer's total
- $185,917
-
Dr Nathan BoschDR NATHAN BOSCH
DIRECTOR LCFLS
- Total calculated
- $177,360
- From this org
- $168,158
- From related orgs
- $0
- Other
- $9,202
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,196
- Bonus
- $5,500
- Other
- $4,462
- Deferred
- $9,202
- Nontaxable benefits
- $0
- Filer's total
- $177,360
-
Dr Roger StichterDR ROGER STICHTER
PROF OF ACCOUNTING & FINANCE
- Total calculated
- $152,005
- From this org
- $143,944
- From related orgs
- $0
- Other
- $8,061
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $143,212
- Bonus
- $0
- Other
- $732
- Deferred
- $8,061
- Nontaxable benefits
- $0
- Filer's total
- $152,005
-
Dr Tim ZiebarthDR TIM ZIEBARTH
DEAN OF ONLINE EDUCATION
- Total calculated
- $171,921
- From this org
- $161,805
- From related orgs
- $0
- Other
- $10,116
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,667
- Bonus
- $0
- Other
- $138
- Deferred
- $10,116
- Nontaxable benefits
- $0
- Filer's total
- $171,921
-
Dr Trent LambertDR TRENT LAMBERT
DIRECTOR OF THE CENTER FOR THRIVING LEADERS
- Total calculated
- $151,691
- From this org
- $145,417
- From related orgs
- $0
- Other
- $6,274
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $139,792
- Bonus
- $0
- Other
- $5,625
- Deferred
- $6,274
- Nontaxable benefits
- $0
- Filer's total
- $151,691
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 · Tax indemnification and gross-up payments
- 1a · Personal services (maid, chauffeur, chef)
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 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)
- Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
- THE PRESIDENT RECEIVED A MINIMAL GROSS UP PAYMENT TO HIS BASE PAY. GRACE SCHOOLS PROVIDED COMPENSATION TO COVER PART OF THE COST OF THE INDIVIDUAL EXPENSE FOR THE MEDI-SHARE PLAN. THIS AMOUNT WAS TAXABLE IN BOX 1 ON THE PRESIDENT'S W-2.
- Schedule J, Part I, Line 1a Personal services
- THE PRESIDENT RECEIVES LAWN AND MAID SERVICES TO HIS RESIDENCE . THE VALUE OF THESE SERVICES WAS INCLUDED IN HIS TAXABLE WAGES.
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
No itemized grants to organizations 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.
-
501(c)(3) · EDUCATION · IN · controlled entity
Directly controlled by GRACE SCHOOL
-
INDEPENDENT COLLEGES OF INDIANA INC
501(c)(3) · EDUCATION · IN
Directly controlled by NA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER TRUST
CHAR. REM. TR · IN
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 26 January 2026
- IRS schema version
- 2024v5.1
- Source object
- 202630269349301658
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