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Nonprofiteer
← HOBE SOUND BIBLE COLLEGE INC

Form 990 for tax year 2023

Filed by HOBE SOUND BIBLE COLLEGE INC.

Totals

Total revenue
$5,924,257
Total expenses
$5,890,824
Contributions and grants received
$1,307,148
Grants paid
$1,034,644
Program service revenue
$4,206,263
Investment income
$6,427
Other revenue
$404,419
Total assets, end of year
$6,525,887
Total liabilities, end of year
$695,799
Net assets or fund balances, end of year
$5,830,088
Program services expenses (Part IX)
$5,158,452
Management and general expenses
$707,023
Fundraising expenses
$25,349
Program service expenses (Part III)
$5,158,452

Program services were 87.6% 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

    $1,307,148

  • 2a · Program service revenue: TUITION

    total $3,101,956 · related or exempt $3,101,956

  • 2b · Program service revenue: AUXILIARY

    total $721,013 · related or exempt $721,013

  • 2c · Program service revenue: FEES

    total $383,294 · related or exempt $383,294

  • 3 · Investment income

    total $6,427 · related or exempt $6,427

  • 8a · Fundraising events: gross income

    $48,784

  • 8b · Fundraising events: direct expenses

    $21,545

  • 8c · Net income from fundraising events

    total $27,239

  • 11a · Other revenue: OTHER INCOME

    total $377,180 · excluded $377,180

  • 11e · Other revenue, total

    $377,180

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,034,644 · program services $1,034,644

  • 5 · Compensation of officers, directors and key employees

    total $122,668 · program services $98,135 · management and general $24,533

  • 7 · Other salaries and wages

    total $1,922,448 · program services $1,537,962 · management and general $384,486

  • 9 · Other employee benefits

    total $569,410 · program services $458,654 · management and general $110,756

  • 10 · Payroll taxes

    total $153,877 · program services $123,946 · management and general $29,931

  • 11g · Fees: other

    total $18,900 · program services $18,900

  • 12 · Advertising and promotion

    total $24,991 · program services $17,493 · fundraising $7,498

  • 13 · Office expenses

    total $209,378 · program services $189,270 · management and general $20,108

  • 14 · Information technology

    total $56,341 · program services $50,930 · management and general $5,411

  • 16 · Occupancy

    total $584,615 · program services $528,471 · management and general $56,144

  • 17 · Travel

    total $120,964 · program services $81,857 · management and general $26,071 · fundraising $13,036

  • 19 · Conferences, conventions and meetings

    total $10,945 · program services $7,407 · management and general $2,359 · fundraising $1,179

  • 20 · Interest

    total $47,224 · management and general $47,224

  • 22 · Depreciation, depletion and amortization

    total $300,874 · program services $300,874

  • 23 · Insurance

    total $78,706 · program services $78,706

  • 24a · Other expenses: STUDENT SERVICES

    total $467,911 · program services $467,911

  • 24b · Other expenses: OTHER EXPENSES

    total $137,617 · program services $133,981 · fundraising $3,636

  • 24c · Other expenses: ACCREDITATION EXPENSES

    total $29,311 · program services $29,311

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31,029 · end of year $140,365

  • 2 · Savings and temporary cash investments

    beginning of year $74,655

  • 4 · Accounts receivable

    beginning of year $151,044 · end of year $227,123

  • 8 · Inventories for sale or use

    beginning of year $27,490 · end of year $24,058

  • 9 · Prepaid expenses and deferred charges

    beginning of year $36,858 · end of year $38,329

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

    $8,926,909

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

    $3,090,796

  • 10c · Land, buildings and equipment, net

    beginning of year $5,414,573 · end of year $5,836,113

  • 11 · Investments: publicly traded securities

    beginning of year $422,393 · end of year $52,821

  • 15 · Other assets

    beginning of year $121,590 · end of year $207,078

  • 17 · Accounts payable and accrued expenses

    beginning of year $244,615 · end of year $353,427

  • 19 · Deferred revenue

    end of year $12,786

  • 25 · Other liabilities

    beginning of year $238,362 · end of year $329,586

  • 27 · Net assets without donor restrictions

    beginning of year $1,837,965 · end of year $1,884,905

  • 28 · Net assets with donor restrictions

    beginning of year $3,958,690 · end of year $3,945,183

Mission and programs · 2023

Mission

CHRISTIAN EDUCATION FROM PRE-KINDERGARTEN THROUGH THE FOURTH YEAR OF COLLEGE.

  • EDUCATIONAL INSTRUCTION PROVIDED FOR UP TO 200 COLLEGE STUDENTS IN FOUR- YEAR COLLEGE PROGRAMS AND 260 ACADEMY STUDENTS IN PRE-K THROUGH 12TH GRADE.

    Expenses $5,158,452 · Grants $1,034,644 · Revenue $4,212,690

As filed on the 2023 return.

Listed in Part VII

  • Matt Maloyed

    PRESIDENT

    Total calculated
    $68,060
    From this org
    $68,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    40
  • Aaron Hamilton

    CFO

    Total calculated
    $54,608
    From this org
    $54,608
    From related orgs
    $0
    Other
    $0
    Hours/week
    40
  • Charles Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • John Beardslee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Cliff Churchill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Leslie Crawford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Chad Damon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Matt Ellison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Rebecca Hoard

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Paul Kaufman

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Wesley Knapp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Brant Luther

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    1
  • Harold Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Dave Morgan

    DIRECTOR1

    Total calculated
    $0
    Hours/week
    1
  • Larry Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • James Plank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Benjamin Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Dale Stratton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
1 May 2025
IRS schema version
2023v6.0
Source object
202501339349303370

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