Totals
- Total revenue
- $4,709,932
- Total expenses
- $4,256,953
- Contributions and grants received
- $275,150
- Grants paid
- $264,259
- Program service revenue
- $3,593,701
- Investment income
- $236,372
- Other revenue
- $604,709
- Total assets, end of year
- $8,279,540
- Total liabilities, end of year
- $942,821
- Net assets or fund balances, end of year
- $7,336,719
- Program services expenses (Part IX)
- $3,047,692
- Management and general expenses
- $1,136,552
- Fundraising expenses
- $72,709
- Program service expenses (Part III)
- $2,783,433
Program services were 71.6% 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.
-
1e · Government grants (contributions)
$49,163
-
1f · All other contributions, gifts and grants
$225,987
-
1g · Noncash contributions included above
$100
-
2a · Program service revenue: Tuition and Fees
total $3,593,701 · related or exempt $3,593,701
-
3 · Investment income
total $235,622 · related or exempt $235,622
-
6a · Gross rents
real property $150
-
6c · Rental income or loss
real property $150
-
6d · Net rental income or loss
total $150 · excluded $150
-
7a · Gross sales of assets other than inventory
other assets $750
-
7c · Gain or loss
other assets $750
-
7d · Net gain or loss
total $750 · excluded $750
-
11a · Other revenue: Other Income
total $604,559 · related or exempt $604,559
-
11e · Other revenue, total
$604,559
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $214,628 · program services $214,628
-
3 · Grants to foreign organizations and individuals
total $49,631 · program services $49,631
-
5 · Compensation of officers, directors and key employees
total $464,223 · program services $103,694 · management and general $333,725 · fundraising $26,804
-
6 · Compensation of disqualified persons
total $75,359 · program services $75,359
-
7 · Other salaries and wages
total $1,778,119 · program services $1,637,626 · management and general $114,790 · fundraising $25,703
-
9 · Other employee benefits
total $119,392 · program services $108,917 · management and general $8,997 · fundraising $1,478
-
10 · Payroll taxes
total $110,580 · program services $81,237 · management and general $27,037 · fundraising $2,306
-
11b · Fees: legal
total $1,042 · management and general $1,042
-
11c · Fees: accounting
total $44,585 · management and general $44,585
-
11g · Fees: other
total $171,482 · management and general $171,482
-
12 · Advertising and promotion
total $197,603 · management and general $197,603
-
13 · Office expenses
total $12,577 · program services $10,584 · management and general $1,970 · fundraising $23
-
14 · Information technology
total $212,070 · program services $190,863 · management and general $14,845 · fundraising $6,362
-
16 · Occupancy
total $106,213 · program services $98,778 · management and general $7,435
-
17 · Travel
total $19,967 · program services $6,636 · management and general $13,313 · fundraising $18
-
19 · Conferences, conventions and meetings
total $11,733 · program services $9,996 · management and general $1,484 · fundraising $253
-
20 · Interest
total $213 · management and general $213
-
22 · Depreciation, depletion and amortization
total $229,356 · program services $213,301 · management and general $16,055
-
23 · Insurance
total $58,520 · program services $40,246 · management and general $18,194 · fundraising $80
-
24a · Other expenses: Repairs and Maintenance
total $25,224 · program services $23,458 · management and general $1,766
-
24b · Other expenses: Student Bad Debts
total $26,298 · management and general $26,298
-
24c · Other expenses: Merchant Fees
total $40,753 · management and general $40,753
-
24d · Other expenses: Student Grants HEERF
total $6,000 · program services $6,000
-
24e · All other expenses
total $281,385 · program services $176,738 · management and general $94,965 · fundraising $9,682
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,108,233 · end of year $878,812
-
4 · Accounts receivable
beginning of year $113,278 · end of year $118,637
-
9 · Prepaid expenses and deferred charges
beginning of year $186,363 · end of year $184,205
-
10a · Land, buildings and equipment: cost or other basis
$5,607,105
-
10b · Land, buildings and equipment: accumulated depreciation
$4,441,335
-
10c · Land, buildings and equipment, net
beginning of year $1,123,874 · end of year $1,165,770
-
11 · Investments: publicly traded securities
beginning of year $20,352
-
12 · Investments: other securities
beginning of year $25,088 · end of year $4,691,427
-
13 · Investments: program-related
beginning of year $966,962
-
15 · Other assets
beginning of year $205,150 · end of year $1,240,689
-
17 · Accounts payable and accrued expenses
beginning of year $140,427 · end of year $181,784
-
19 · Deferred revenue
beginning of year $519,983 · end of year $571,776
-
25 · Other liabilities
beginning of year $205,150 · end of year $189,261
-
27 · Net assets without donor restrictions
beginning of year $5,572,603 · end of year $6,032,518
-
28 · Net assets with donor restrictions
beginning of year $1,311,137 · end of year $1,304,201
Mission and programs · 2022
Mission
The mission of Luther Rice College & Seminary is to serve the church and community by providing biblically based on-campus and distance education to Christian men and women for ministry and the marketplace with an end to granting undergraduate and graduate degrees.
-
Instruction
Expenses $1,529,656
-
Academic Support
Expenses $650,613
-
Student Services
Expenses $603,164 · Grants $6,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Steven Steinhilber
President
- Total calculated
- $143,414
- From this org
- $98,627
- From related orgs
- $0
- Other
- $44,787
- Hours/week
- 40
-
Ken Stokes
V P for Information Technol
- Total calculated
- $114,629
- From this org
- $113,805
- From related orgs
- $0
- Other
- $824
- Hours/week
- 40
-
Evan Posey
Executive V P and Provost
- Total calculated
- $103,874
- From this org
- $97,833
- From related orgs
- $0
- Other
- $6,041
- Hours/week
- 40
-
Kenneth Kuffrey
V P for Financial Affairs
- Total calculated
- $94,399
- From this org
- $86,534
- From related orgs
- $0
- Other
- $7,865
- Hours/week
- 40
-
Robert Williams
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Darrell Whilddon
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Brent Purvis
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Deborah Wilson
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Tom Powell
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Daryl Edwards
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Pete Rockett
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Mark Riser
Trustee
- 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
- 2022
- Filed
- 3 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202410299349301571
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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