Totals
- Total revenue
- $7,976,509
- Total expenses
- $10,398,858
- Contributions and grants received
- $3,595,396
- Grants paid
- $1,999,995
- Program service revenue
- $5,275,410
- Investment income
- -$918,786
- Other revenue
- $24,489
- Total assets, end of year
- $39,288,183
- Total liabilities, end of year
- $18,211,454
- Net assets or fund balances, end of year
- $21,076,729
- Program services expenses (Part IX)
- $8,604,351
- Management and general expenses
- $1,192,068
- Fundraising expenses
- $602,439
- Program service expenses (Part III)
- $8,604,351
Program services were 82.7% 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.
-
1e · Government grants (contributions)
$920,195
-
1f · All other contributions, gifts and grants
$2,675,201
-
2a · Program service revenue: TUITION AND FEES
total $4,116,784 · related or exempt $4,116,784
-
2b · Program service revenue: DINING HALL
total $634,790 · related or exempt $634,790
-
2c · Program service revenue: DORMITORY
total $422,764 · related or exempt $422,764
-
2d · Program service revenue: SNACKSHOP AND BOOKSTORE
total $55,831 · related or exempt $55,831
-
2e · Program service revenue: OTHER PROGRAM SERVICES
total $45,241 · related or exempt $45,241
-
7a · Gross sales of assets other than inventory
other assets $3,538,646
-
7b · Less cost or other basis and sales expenses
other assets $4,457,432
-
7c · Gain or loss
other assets -$918,786
-
7d · Net gain or loss
total -$918,786 · excluded -$918,786
-
8a · Fundraising events: gross income
$128,277
-
8b · Fundraising events: direct expenses
$21,906
-
8c · Net income from fundraising events
total $106,371 · excluded $106,371
-
11a · Other revenue: OTHER INCOME
total $24,703 · related or exempt $24,703
-
11b · Other revenue: LOSS ON INVESTMENT
total -$106,585 · excluded -$106,585
-
11e · Other revenue, total
-$81,882
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,999,995 · program services $1,999,995
-
5 · Compensation of officers, directors and key employees
total $364,874 · program services $255,356 · management and general $73,064 · fundraising $36,454
-
7 · Other salaries and wages
total $2,342,928 · program services $1,639,695 · management and general $469,158 · fundraising $234,075
-
9 · Other employee benefits
total $803,948 · program services $562,642 · management and general $160,986 · fundraising $80,320
-
10 · Payroll taxes
total $8,491 · program services $3,014 · management and general $5,477
-
11b · Fees: legal
total $36,796 · program services $36,796
-
11c · Fees: accounting
total $48,810 · program services $48,810
-
11g · Fees: other
total $45,079 · program services $45,079
-
12 · Advertising and promotion
total $152,668 · program services $110,830 · fundraising $41,838
-
13 · Office expenses
total $366,679 · program services $171,184 · management and general $148,732 · fundraising $46,763
-
14 · Information technology
total $158,032 · program services $158,032
-
16 · Occupancy
total $700,575 · program services $699,765 · management and general $810
-
17 · Travel
total $555,575 · program services $364,168 · management and general $56,969 · fundraising $134,438
-
19 · Conferences, conventions and meetings
total $741 · fundraising $741
-
20 · Interest
total $847,669 · program services $847,669
-
22 · Depreciation, depletion and amortization
total $721,066 · program services $719,474 · fundraising $1,592
-
23 · Insurance
total $105,832 · program services $105,832
-
24a · Other expenses: FOOD SERVICE
total $403,721 · program services $403,721
-
24b · Other expenses: OTHER EXPENSES
total $367,251 · program services $128,818 · management and general $221,440 · fundraising $16,993
-
24c · Other expenses: ON-CAMPUS EVENTS
total $105,486 · program services $90,180 · management and general $6,081 · fundraising $9,225
-
24d · Other expenses: ATHLETICS
total $90,749 · program services $90,749
-
24e · All other expenses
total $171,893 · program services $122,542 · management and general $49,351
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $595,235 · end of year $408,822
-
2 · Savings and temporary cash investments
beginning of year $283,175 · end of year $447,277
-
3 · Pledges and grants receivable
beginning of year $392,635 · end of year $200,564
-
4 · Accounts receivable
beginning of year $49,647 · end of year $27,693
-
7 · Other notes and loans receivable
end of year $2,800,000
-
8 · Inventories for sale or use
beginning of year $3,331 · end of year $3,924
-
9 · Prepaid expenses and deferred charges
beginning of year $24,677 · end of year $117,863
-
10a · Land, buildings and equipment: cost or other basis
$36,755,302
-
10b · Land, buildings and equipment: accumulated depreciation
$6,451,358
-
10c · Land, buildings and equipment, net
beginning of year $34,555,016 · end of year $30,303,944
-
11 · Investments: publicly traded securities
beginning of year $1,947,401 · end of year $1,625,493
-
12 · Investments: other securities
beginning of year $2,657,332 · end of year $2,226,996
-
13 · Investments: program-related
beginning of year $1,067,607 · end of year $1,067,607
-
15 · Other assets
beginning of year $58,000 · end of year $58,000
-
17 · Accounts payable and accrued expenses
beginning of year $352,635 · end of year $592,377
-
19 · Deferred revenue
beginning of year $83,821 · end of year $70,049
-
23 · Secured mortgages and notes payable
beginning of year $17,130,111 · end of year $17,372,297
-
25 · Other liabilities
beginning of year $143,347 · end of year $176,731
-
27 · Net assets without donor restrictions
beginning of year $17,781,346 · end of year $15,708,676
-
28 · Net assets with donor restrictions
beginning of year $6,142,796 · end of year $5,368,053
Mission and programs · 2022
Mission
WELCH COLLEGE IS A CHRISTIAN HIGHER EDUCATION INSTITUTION THAT EDUCATES LEADERS TO SERVE CHRIST, HIS CHURCH, AND HIS WORLD THROUGH BIBLICAL THOUGHT AND LIFE
-
WELCH COLLEGE IS A CHRISTIAN HIGHER EDUCATION INSTITUTION THAT EDUCATES LEADERS TO SERVE CHRIST, HIS CHURCH, AND HIS WORLD THROUGH BIBLICAL THOUGHT AND LIFE. WE PROVIDE OUR STUDENTS A UNIQUE OPPORTUNITY TO PREPARE FOR LEADERSHIP IN THE PLACE OF SERVICE TO WHICH GOD IS CALLING THEM. WE DO THIS BY TEACHING STUDENTS TO CONFRONT THE INESCAPABLE QUESTIONS OF LIFE FROM THE VANTAGE POINT OF A CHRISTIAN WORLDVIEW, REALISING THE IMPLICATIONS OF CHRISTIAN FAITH FOR THE WORLD AROUND THEM.
Expenses $8,604,351 · Grants $1,999,995 · Revenue $7,976,509
As filed on the 2022 return.
Listed in Part VII
-
Rev Will BeauchampREV WILL BEAUCHAMP
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Jeff CrabtreeDR JEFF CRABTREE
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Rev Shiloh HackettREV SHILOH HACKETT
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rev Wayne MiracleREV WAYNE MIRACLE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Rev Brad RyanREV BRAD RYAN
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rev Tim CampbellREV TIM CAMPBELL
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rev Theron ScottREV THERON SCOTT
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Chris TruettCHRIS TRUETT
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rusty CampbellRUSTY CAMPBELL
BOARD OF TRUSTEES MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Craig MahlerCRAIG MAHLER
VP-FINANCIAL AFFAIRS
- Total calculated
- $65,595
- From this org
- $30,605
- From related orgs
- $0
- Other
- $34,990
- Hours/week
- 40
-
J Matthew PinsonJ MATTHEW PINSON
PRESIDENT
- Total calculated
- $104,274
- From this org
- $79,610
- From related orgs
- $0
- Other
- $24,664
- Hours/week
- 40
-
Greg KettemanGREG KETTEMAN
VP STRATEGIC INITIATIVES
- Total calculated
- $67,187
- From this org
- $65,350
- From related orgs
- $0
- Other
- $1,837
- Hours/week
- 40
-
Jon ForlinesJON FORLINES
VP STUDENT SERVICES/ DEAN
- Total calculated
- $55,122
- From this org
- $46,336
- From related orgs
- $0
- Other
- $8,786
- Hours/week
- 40
-
David WillifordDAVID WILLIFORD
VP-INSTITUTIONAL ADVANCEME
- Total calculated
- $43,946
- From this org
- $16,496
- From related orgs
- $0
- Other
- $27,450
- Hours/week
- 40
-
Matthew BraceyMATTHEW BRACEY
VICE PROVOST
- Total calculated
- $70,157
- From this org
- $19,838
- From related orgs
- $0
- Other
- $50,319
- Hours/week
- 40
-
Kevin HesterKEVIN HESTER
VP INSTITUTIONAL EFFECTIVE
- Total calculated
- $94,040
- From this org
- $66,474
- From related orgs
- $0
- Other
- $27,566
- Hours/week
- 40
-
Matthew McAffeeMATTHEW MCAFFEE
PROVOST
- Total calculated
- $87,940
- From this org
- $20,563
- From related orgs
- $0
- Other
- $67,377
- Hours/week
- 40
-
Todd ParishTODD PARISH
VP FOR INSTITUTIONAL ADVANCEMENT
- Total calculated
- $60,640
- From this org
- $19,602
- From related orgs
- $0
- Other
- $41,038
- Hours/week
- 40
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.
-
NATIONAL ASSOC OF FREE WILL BAPTISTS
501(C)(3) · SPONSORING CHURCH/ DENOMINATION · TN
-
501(C)(3) · INVESTMENTS AND HOLDER OF COLLEGE DEBT · TN
-
501(C)(3) · DENOMINATIONAL PUBLISHER · TN
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 partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
FREE WILL BAPTIST MINISTRIES PARTNERSHIP
NONE AT PRESENT · LAND PURCHASE · TN · 38.05% owned · general or managing partner
Directly controlled by WELCH COLLEGE
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 12 April 2024
- IRS schema version
- 2022v5.0
- Source object
- 202421039349300647
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