Skip to content
Nonprofiteer
← GRACE SCHOOLS

Form 990 for tax year 2023

Filed by GRACE SCHOOLS.

What the amendment changed

Compared with the return it replaced , filed 5 March 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$68,609,939 changed to $5,234,116
Total expenses
$63,019,377 changed to $9,115,272
Contributions and grants received
$8,522,333 changed to $1,369,061
Grants paid
$20,983,191 changed to $97,096
Program service revenue
$59,534,004 changed to $3,361,391
Investment income
$467,181 changed to $467,606
Other revenue
$86,421 changed to $36,058
Total assets, end of year
$91,468,346 changed to $92,110,224
Total liabilities, end of year
$28,784,024 changed to $32,066,470
Net assets or fund balances, end of year
$62,684,322 changed to $60,043,754
Program services expenses
$53,518,312 changed to $6,364,108
Management and general expenses
$8,659,030 changed to $2,546,334
Fundraising expenses
$842,035 changed to $204,830
Program service expenses (Part III)
$53,518,312 changed to $6,364,108

Listed only on the earlier return

  • Dr Kevin Roberts
  • Dr Nathan Bosch
  • Dr Tiberius Rata
  • Dr Tim Ziebarth
  • Dr William Katip

Totals

Total revenue
$5,234,116
Total expenses
$9,115,272
Contributions and grants received
$1,369,061
Grants paid
$97,096
Program service revenue
$3,361,391
Investment income
$467,606
Other revenue
$36,058
Total assets, end of year
$92,110,224
Total liabilities, end of year
$32,066,470
Net assets or fund balances, end of year
$60,043,754
Program services expenses (Part IX)
$6,364,108
Management and general expenses
$2,546,334
Fundraising expenses
$204,830
Program service expenses (Part III)
$6,364,108

Program services were 69.8% 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.

  • 1f · All other contributions, gifts and grants

    $1,369,061

  • 1g · Noncash contributions included above

    $40,569

  • 2a · Program service revenue: TUITION & FEES

    total $2,478,259 · related or exempt $2,478,259

  • 2b · Program service revenue: ROOM, BOARD, FEES

    total $883,132 · related or exempt $883,132

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $461,265 · excluded $461,265

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $264,149

  • 7b · Less cost or other basis and sales expenses

    securities $257,808

  • 7c · Gain or loss

    securities $6,341 · other assets $0

  • 7d · Net gain or loss

    total $6,341 · excluded $6,341

  • 11a · Other revenue: GRACE SOLUTIONS

    total $36,058 · unrelated business $36,058

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $36,058

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $97,096 · program services $97,096

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $104,855 · program services $89,127 · management and general $13,631 · fundraising $2,097

  • 7 · Other salaries and wages

    total $3,310,824 · program services $2,472,725 · management and general $704,709 · fundraising $133,390

  • 8 · Pension plan contributions

    total $17,683 · program services $15,207 · management and general $2,122 · fundraising $354

  • 9 · Other employee benefits

    total $917,861 · program services $723,412 · management and general $169,425 · fundraising $25,024

  • 11a · Fees: management

    total $83,270 · program services $83,270

  • 11b · Fees: legal

    total $3,675 · management and general $3,675

  • 11c · Fees: accounting

    total $16,500 · management and general $16,500

  • 11e · Fees: professional fundraising services

    total $600 · fundraising $600

  • 11g · Fees: other

    total $815,878 · program services $118,261 · management and general $696,395 · fundraising $1,222

  • 12 · Advertising and promotion

    total $158,789 · program services $62,145 · management and general $96,644

  • 13 · Office expenses

    total $417,272 · program services $306,114 · management and general $103,317 · fundraising $7,841

  • 14 · Information technology

    total $229,381 · program services $94,536 · management and general $123,625 · fundraising $11,220

  • 16 · Occupancy

    total $499,812 · program services $248,926 · management and general $250,471 · fundraising $415

  • 17 · Travel

    total $482,418 · program services $410,495 · management and general $58,690 · fundraising $13,233

  • 19 · Conferences, conventions and meetings

    total $19,639 · program services $16,804 · management and general $1,857 · fundraising $978

  • 20 · Interest

    total $274,240 · program services $274,240

  • 22 · Depreciation, depletion and amortization

    total $745,914 · program services $745,914

  • 23 · Insurance

    total $153,307 · program services $33,491 · management and general $119,816

  • 24a · Other expenses: FOOD

    total $188,818 · program services $146,707 · management and general $37,922 · fundraising $4,189

  • 24b · Other expenses: MEMBERSHIPS & DUES

    total $70,330 · program services $39,249 · management and general $31,017 · fundraising $64

  • 24c · Other expenses: TEXTBOOKS

    total $213,168 · program services $213,168

  • 24d · Other expenses: OTHER

    total $293,942 · program services $173,221 · management and general $116,518 · fundraising $4,203

  • 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 $5,821 · end of year $5,819

  • 2 · Savings and temporary cash investments

    beginning of year $11,795,239 · end of year $10,066,385

  • 3 · Pledges and grants receivable

    beginning of year $304,711 · end of year $637,327

  • 4 · Accounts receivable

    beginning of year $232,077 · end of year $209,796

  • 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 $2,354,932 · end of year $2,295,424

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $54,051

  • 9 · Prepaid expenses and deferred charges

    beginning of year $520,345 · end of year $954,610

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

    $97,199,054

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

    $46,172,985

  • 10c · Land, buildings and equipment, net

    beginning of year $50,950,296 · end of year $51,026,069

  • 11 · Investments: publicly traded securities

    beginning of year $25,089,254 · end of year $26,633,510

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $215,671 · end of year $227,233

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,735,500 · end of year $3,822,406

  • 18 · Grants payable

    beginning of year $620,031 · end of year $617,749

  • 19 · Deferred revenue

    beginning of year $62,284 · end of year $4,848,394

  • 20 · Tax-exempt bond liabilities

    beginning of year $13,718,565 · end of year $13,496,002

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end 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 $9,375,934 · end of year $9,007,181

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $271,710 · end of year $274,738

  • 27 · Net assets without donor restrictions

    beginning of year $23,111,949 · end of year $18,958,358

  • 28 · Net assets with donor restrictions

    beginning of year $39,572,373 · end of year $41,085,396

Mission and programs · 2023

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 $5,438,838 · Grants $97,096 · Revenue $2,478,259

  • 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 $925,270 · Revenue $883,132

As filed on the 2023 return.

Listed in Part VII

  • Mr Daniel W Renner

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mr Greg Dosmann

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mr Scott Silveus

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ms Janine Zeltwanger

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dr Karen White

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Andrew Serafini

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Cory Colman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Daniel Sandoval

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr James Grady

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Jonathon Allen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Keith Minier

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Lamarr Lark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Loren Neuenschwander

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Matt Abernethy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Randy Lake

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Ray Shook

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Robert Bishop

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mr Seth Nash

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Jennifer Hollar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Jessica Bricker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Letitia Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mrs Monica Morrison

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ms Phyllis Marwah

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Adam Copenhaver

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev John McIntosh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Kip Cone

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Andrew Flamm

    PRESIDENT OF GRACE COLLEGE

    Total calculated
    $0
    Hours/week
    40

  • Mr Doug Baumgardner

    CFO

    Total calculated
    $0
    Hours/week
    40 + 1 related

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.

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.

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
2023
Filed
22 May 2025
IRS schema version
2023v6.0
Source object
202541429349301504

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.