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Nonprofiteer
← KINGS COLLEGE

Form 990 for tax year 2023

Filed by KINGS COLLEGE.

Totals

Total revenue
-$469,991
Total expenses
$6,896,378
Contributions and grants received
$266,642
Grants paid
$0
Program service revenue
$108,530
Investment income
-$1,077,831
Other revenue
$232,668
Total assets, end of year
$22,940,456
Total liabilities, end of year
$28,750,864
Net assets or fund balances, end of year
-$5,810,408
Program services expenses (Part IX)
$5,437,940
Management and general expenses
$1,312,908
Fundraising expenses
$145,530
Program service expenses (Part III)
$5,437,940

Program services were 78.9% 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

    $6,973

  • 1f · All other contributions, gifts and grants

    $259,669

  • 2a · Program service revenue: Auxiliary enterprises

    total $108,530 · related or exempt $108,530

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $41,901 · excluded $41,901

  • 6a · Gross rents

    real property $215,564

  • 6b · Less rental expenses

    real property $18,723

  • 6c · Rental income or loss

    real property $196,841 · personal property $0

  • 6d · Net rental income or loss

    total $196,841 · excluded $196,841

  • 7a · Gross sales of assets other than inventory

    securities $308,462 · other assets $15,250,000

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

    securities $308,462 · other assets $16,369,732

  • 7c · Gain or loss

    securities $0 · other assets -$1,119,732

  • 7d · Net gain or loss

    total -$1,119,732 · excluded -$1,119,732

  • 10a · Gross sales of inventory

    $77

  • 10b · Cost of goods sold

    $44

  • 10c · Net income from sales of inventory

    total $33 · excluded $33

  • 11d · All other revenue

    total $35,794 · related or exempt $35,794 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $35,794

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $207,177 · program services $108,506 · management and general $93,567 · fundraising $5,104

  • 7 · Other salaries and wages

    total $310,785 · program services $180,176 · management and general $128,334 · fundraising $2,275

  • 8 · Pension plan contributions

    total $3,513 · program services $1,197 · management and general $2,286 · fundraising $30

  • 9 · Other employee benefits

    total $170,200 · program services $150,396 · management and general $16,082 · fundraising $3,722

  • 10 · Payroll taxes

    total $42,190 · program services $21,242 · management and general $20,402 · fundraising $546

  • 11a · Fees: management

    total $30,100 · management and general $22,575 · fundraising $7,525

  • 11b · Fees: legal

    total $102,537 · program services $3,379 · management and general $99,077 · fundraising $81

  • 11c · Fees: accounting

    total $57,136 · management and general $57,136

  • 11g · Fees: other

    total $105,341 · program services $34,797 · management and general $70,500 · fundraising $44

  • 13 · Office expenses

    total $42,397 · program services $29,084 · management and general $4,269 · fundraising $9,044

  • 14 · Information technology

    total $6,155 · program services $3,442 · management and general $2,698 · fundraising $15

  • 16 · Occupancy

    total $3,509,022 · program services $3,053,087 · management and general $383,091 · fundraising $72,844

  • 17 · Travel

    total $10,589 · program services $2,591 · management and general $4,428 · fundraising $3,570

  • 19 · Conferences, conventions and meetings

    total $109 · program services $109

  • 20 · Interest

    total $1,700,115 · program services $1,475,700 · management and general $188,713 · fundraising $35,702

  • 22 · Depreciation, depletion and amortization

    total $292,400 · program services $266,200 · management and general $22,032 · fundraising $4,168

  • 23 · Insurance

    total $181,529 · program services $90,426 · management and general $91,103

  • 24a · Other expenses: Bad debt expense

    total $91,481 · management and general $91,481

  • 24b · Other expenses: Dues & subscriptions

    total $1,322 · program services $1,173 · management and general $75 · fundraising $74

  • 24c · Other expenses: Equipment

    total $865 · program services $865

  • 24e · All other expenses

    total $31,415 · program services $15,570 · management and general $15,059 · fundraising $786

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $762,492 · end of year $329,015

  • 2 · Savings and temporary cash investments

    beginning of year $1,728,430 · end of year $98,631

  • 3 · Pledges and grants receivable

    beginning of year $18,522 · end of year $10,850

  • 4 · Accounts receivable

    beginning of year $892,120 · end of year $22,676

  • 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

  • 8 · Inventories for sale or use

    beginning of year $10,262 · end of year $10,217

  • 9 · Prepaid expenses and deferred charges

    beginning of year $49,627 · end of year $66,904

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

    $1,004,494

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

    $1,004,494

  • 10c · Land, buildings and equipment, net

    beginning of year $14,745,401 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $616,756 · end of year $553,319

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $24,572,703 · end of year $21,848,844

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,488,258 · end of year $3,397,740

  • 22 · Loans and payables to officers and key people

    beginning of year $1,914,573 · end of year $400,000

  • 23 · Secured mortgages and notes payable

    beginning of year $9,000,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $27,437,521 · end of year $24,953,124

  • 27 · Net assets without donor restrictions

    beginning of year $734,874 · end of year -$6,618,781

  • 28 · Net assets with donor restrictions

    beginning of year $821,087 · end of year $808,373

Mission and programs · 2023

Mission

See Schedule O

Activities or mission (Part I)

Christian college preparing students for principled leadership around the world.

  • Education of students - the College had no degree-seeking students for Fall 2023 or Spring 2024. Through its commitment to the truths of Christianity and a biblical worldview, The King's College seeks to transform society by preparing students for careers in which they help to shape and eventually to lead strategic public and private institutions, and by supporting faculty members as they directly engage culture through writing and speaking publicly on critical issues. At The King's College, we seek to understand society, to strengthen and apply our intellect, and to develop Christian character, so that we may challenge, change, and improve our culture. For four years, our students are shaped by a relevant and sophisticated biblical worldview. Students become persuasive, influential graduates who communicate with clarity and force and who succeed in challenging professions. This is accomplished through our core curriculum and major courses leading to degrees in Politics, Philosophy and Economics; Media, Culture and the Arts; Finance; Business Management; Religious and Theological Studies; English; Philosophy; Humanities and Journalism, Culture and Society. We educate young leaders to seamlessly integrate their faith, ethics, and morality into their lives and careers. Students are immersed in challenging academic and spiritual study that demands thinking, communicating, and problem-solving with the mind, heart, and soul. We require engagement with complex ideas to guide the strategic institutions of society - government, commerce, law, media, civil society, education, the arts, and the Church. We participate in a demanding curriculum and present unique opportunities to students in the heart of New York City. We are not a college for the faint of heart - we call our students to be good, brave, and ready.

    Expenses $5,437,940 · Revenue $144,324

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Henry Morriello

    Chairman

    Total calculated
    $0
    Hours/week
    7

  • Alexandra Harrison Gaiser

    Trustee (part year)

    Total calculated
    $0
    Hours/week
    4

  • Andrew G Mills

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Bethany Pickett Shah

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Christopher Ross

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • David A Palomares

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • John Urban

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Matthew Dieterle

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Susie Wilson

    Trustee (part year)

    Total calculated
    $0
    Hours/week
    0.5

  • Henry Bleattler

    Associate Professor of History and the Humanties/ Interim Provost

    Total calculated
    $190,183
    From this org
    $177,197
    From related orgs
    $0
    Other
    $12,986
    Hours/week
    19

    Schedule J breakdown matched by us

    Base
    $114,822
    Bonus
    $0
    Other
    $62,375
    Deferred
    $2,454
    Nontaxable benefits
    $10,532
    Filer's total
    $190,183

  • Jennifer Anderson

    VP Finance/Treasurer

    Total calculated
    $167,052
    From this org
    $155,081
    From related orgs
    $0
    Other
    $11,971
    Hours/week
    26

    Schedule J breakdown matched by us

    Base
    $131,993
    Bonus
    $0
    Other
    $23,088
    Deferred
    $2,783
    Nontaxable benefits
    $9,188
    Filer's total
    $167,052

  • Steven S French

    Interim President

    Total calculated
    $0
    Hours/week
    20

  • David Tubbs

    Associate Professor of Politics

    Total calculated
    $139,165
    From this org
    $130,273
    From related orgs
    $0
    Other
    $8,892
    Hours/week
    40

  • Dawn Fotopulos

    Professor of Business

    Total calculated
    $138,697
    From this org
    $129,851
    From related orgs
    $0
    Other
    $8,846
    Hours/week
    40

  • Judy Barringer

    AVP and Controller

    Total calculated
    $151,671
    From this org
    $138,996
    From related orgs
    $0
    Other
    $12,675
    Hours/week
    31

    Schedule J breakdown matched by us

    Base
    $118,189
    Bonus
    $0
    Other
    $20,807
    Deferred
    $2,532
    Nontaxable benefits
    $10,143
    Filer's total
    $151,671

  • Oluwadamilola Kabiawu

    Associate Professor of Finance

    Total calculated
    $201,840
    From this org
    $173,370
    From related orgs
    $0
    Other
    $28,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $93,117
    Bonus
    $0
    Other
    $80,253
    Deferred
    $2,184
    Nontaxable benefits
    $26,286
    Filer's total
    $201,840

  • Paul Glader

    Professor of Journalism, Media & Entrepreneurship

    Total calculated
    $166,379
    From this org
    $145,722
    From related orgs
    $0
    Other
    $20,657
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $77,889
    Bonus
    $0
    Other
    $67,833
    Deferred
    $1,681
    Nontaxable benefits
    $18,976
    Filer's total
    $166,379

  • Brian Brenberg

    Former EVP/Assoc. Professor of Bus. & Econ.

    Total calculated
    $128,451
    From this org
    $112,336
    From related orgs
    $0
    Other
    $16,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,234
    Bonus
    $0
    Other
    $102
    Deferred
    $2,454
    Nontaxable benefits
    $13,661
    Filer's total
    $128,451

  • Kimberly Reeve

    Former Associate Professor of Business/ Interim Provost

    Total calculated
    $125,657
    From this org
    $111,556
    From related orgs
    $0
    Other
    $14,101
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $86,391
    Bonus
    $25,000
    Other
    $165
    Deferred
    $1,913
    Nontaxable benefits
    $12,188
    Filer's total
    $125,657

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment
During calendar year 2023, the following individuals received a severance payment of the noted amount: Oluwadamilola Kabiawu, Associate Professor of Finance - $80,064. Paul Glader, Professor of Journalism, Media and Entrepreneurship - $67,663 Dawn Fotopulos, Professor of Business - $64,889 Henry Bleattler, Assoc. Professor of History and Humanities/Interim Provost - $61,865 David Tubbs, Associate Professor of Politics - $57,363 Jennifer Anderson, VP Finance/Treasurer - $22,904 Judy Barringer, AVP and Controller - $20,299
Schedule J, Part I, Line 7 Non-fixed payments
The organization made non-fixed payments in the form of discretionary bonuses.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 102 SPE LLC

    Holds Property and Debt · NY · income $0 · assets $0

    Directly controlled by The King's College

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

3 distributions to recipients named as people, $15,315,393 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
14 July 2025
IRS schema version
2023v6.0
Source object
202541959349301274

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