Totals
- Total revenue
- $10,107,714
- Total expenses
- $10,397,018
- Contributions and grants received
- $1,839,126
- Grants paid
- $0
- Program service revenue
- $7,339,348
- Investment income
- $929,240
- Other revenue
- $0
- Total assets, end of year
- $19,924,252
- Total liabilities, end of year
- $2,819,344
- Net assets or fund balances, end of year
- $17,104,908
- Program services expenses (Part IX)
- $7,695,017
- Management and general expenses
- $2,434,826
- Fundraising expenses
- $267,175
- Program service expenses (Part III)
- $7,695,017
Program services were 74.0% 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
$1,839,126
-
2a · Program service revenue: Tuition and Fees
total $3,624,651 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Auxiliary enterprises
total $3,500,567 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Miscellaneous fees
total $210,564 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $3,566 · unrelated business $0 · excluded $3,566
-
3 · Investment income
total $591,313 · unrelated business $0 · excluded $591,313
-
7a · Gross sales of assets other than inventory
securities $1,510,517
-
7b · Less cost or other basis and sales expenses
securities $1,172,590
-
7c · Gain or loss
securities $337,927
-
7d · Net gain or loss
total $337,927 · related or exempt $0 · unrelated business $0 · excluded $337,927
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $641,675 · program services $255,649 · management and general $307,057 · fundraising $78,969
-
7 · Other salaries and wages
total $3,968,415 · program services $3,304,915 · management and general $592,064 · fundraising $71,436
-
8 · Pension plan contributions
total $64,016 · program services $49,442 · management and general $12,485 · fundraising $2,089
-
9 · Other employee benefits
total $890,887 · program services $688,069 · management and general $173,753 · fundraising $29,065
-
10 · Payroll taxes
total $277,905 · program services $214,638 · management and general $54,201 · fundraising $9,066
-
11b · Fees: legal
total $9,315 · program services $0 · management and general $9,315 · fundraising $0
-
11c · Fees: accounting
total $74,240 · program services $0 · management and general $74,240 · fundraising $0
-
11f · Fees: investment management
total $85,277 · program services $0 · management and general $85,277 · fundraising $0
-
11g · Fees: other
total $118,772 · program services $118,772 · management and general $0 · fundraising $0
-
13 · Office expenses
total $355,229 · program services $244,008 · management and general $105,784 · fundraising $5,437
-
14 · Information technology
total $189,802 · program services $73,070 · management and general $111,978 · fundraising $4,754
-
16 · Occupancy
total $379,503 · program services $189,100 · management and general $190,403 · fundraising $0
-
17 · Travel
total $406,793 · program services $284,443 · management and general $79,577 · fundraising $42,773
-
19 · Conferences, conventions and meetings
total $308,903 · program services $233,904 · management and general $73,546 · fundraising $1,453
-
20 · Interest
total $75,334 · program services $11,134 · management and general $64,200 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $699,223 · program services $573,363 · management and general $125,860 · fundraising $0
-
23 · Insurance
total $124,135 · program services $36,091 · management and general $88,044 · fundraising $0
-
24a · Other expenses: Food purchases
total $489,101 · program services $489,101 · management and general $0 · fundraising $0
-
24b · Other expenses: Books and publications
total $364,810 · program services $342,280 · management and general $1,917 · fundraising $20,613
-
24c · Other expenses: Repairs and maintenance
total $286,729 · program services $51,232 · management and general $235,497 · fundraising $0
-
24d · Other expenses: Miscellaneous expenses
total $586,954 · program services $535,806 · management and general $49,628 · fundraising $1,520
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $293,751 · end of year $380,577
-
4 · Accounts receivable
beginning of year $227,802 · end of year $221,858
-
8 · Inventories for sale or use
beginning of year $307,111 · end of year $306,498
-
9 · Prepaid expenses and deferred charges
beginning of year $39,866 · end of year $44,503
-
10a · Land, buildings and equipment: cost or other basis
$21,493,283
-
10b · Land, buildings and equipment: accumulated depreciation
$12,944,254
-
10c · Land, buildings and equipment, net
beginning of year $8,783,313 · end of year $8,549,029
-
11 · Investments: publicly traded securities
beginning of year $9,950,554 · end of year $10,421,787
-
17 · Accounts payable and accrued expenses
beginning of year $293,128 · end of year $195,063
-
23 · Secured mortgages and notes payable
beginning of year $800,000 · end of year $1,500,000
-
25 · Other liabilities
beginning of year $1,115,057 · end of year $1,124,281
-
27 · Net assets without donor restrictions
beginning of year $12,059,401 · end of year $11,353,032
-
28 · Net assets with donor restrictions
beginning of year $5,334,811 · end of year $5,751,876
Mission and programs · 2023
Mission
Post secondary and graduate educational institution The mission of Faith Baptist Bible College and Theological Seminary is to equip vocational Christian workers and other servant leaders while inspiring them to take the Word to the world.
-
Post secondary educational institution - College Students (Fall 2023-399); (Spring 2024-375) The mission of Faith Baptist Bible College is to equip vocational Christian workers and other servant leaders while inspiring them to take the Word to the world. convictions.
Expenses $4,327,586 · Revenue $3,351,693
-
Graduate education institution - Seminary Students (Fall 2023 - 31); (Spring 2024 - 37) The mission of Faith Baptist Theological Seminary is to equip vocational Christian workers and other servant leaders while inspiring them to take the Word to the world.
Expenses $389,802 · Revenue $272,958
-
Auxiliary Operation The auxiliary operations provide essential services to support the college and seminary including residential housing, food services, a book store, and athletic activities in support of the students.
Expenses $2,977,629 · Revenue $3,500,567
As filed on the 2023 return.
Listed in Part VII
-
Michael Blackstone
Director
- Total calculated
- $0
- Hours/week
- 3
-
Steven Bohn
Director
- Total calculated
- $0
- Hours/week
- 3
-
David Burman Jr
Director & Secretary
- Total calculated
- $0
- Hours/week
- 3
-
Tim Capon
Director & Chairman
- Total calculated
- $0
- Hours/week
- 3
-
Samuel Choi
Director
- Total calculated
- $0
- Hours/week
- 3
-
Kenneth R Hansen
Director
- Total calculated
- $0
- Hours/week
- 3
-
Paul Mann
Director
- Total calculated
- $0
- Hours/week
- 3
-
Alberto Marquest
Director
- Total calculated
- $0
- Hours/week
- 3
-
Patrick Odle
Director
- Total calculated
- $0
- Hours/week
- 3
-
Jason Pilchard
Director
- Total calculated
- $0
- Hours/week
- 3
-
James Randolph
Director & Vice Chairman
- Total calculated
- $0
- Hours/week
- 3
-
Dan E Walker
Director
- Total calculated
- $0
- Hours/week
- 3
-
Anthony Wilson
Director
- Total calculated
- $0
- Hours/week
- 3
-
James R Tillotson
President
- Total calculated
- $119,847
- From this org
- $119,847
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Martin T Herron
Executive Vice President
- Total calculated
- $80,917
- From this org
- $80,917
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Daniel H Bjokne
Vice President
- Total calculated
- $49,518
- From this org
- $49,518
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Mark L Davis
Vice President
- Total calculated
- $71,266
- From this org
- $71,266
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Douglas E Brown
Dean of Seminary
- Total calculated
- $60,965
- From this org
- $60,965
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Kenneth D Rathbun
Vice President, Academic Dean
- Total calculated
- $86,491
- From this org
- $86,491
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Paul Bray
Vice President & CFO
- Total calculated
- $79,460
- From this org
- $79,460
- From related orgs
- $0
- Other
- $0
- 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.
Schedule J
Itemized on Schedule J with no Part VII listing of the same name on this return:
-
None
Schedule J breakdown
- Base
- $0
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0
Answered yes
- 1a · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Pt I Line 1b
- Faith Baptist Bible College designates a Housing Allowance, as provided in 26 U.S. Code 107. Rental value of parsonages, for qualified, ordained officers and professors of the Bible college and Seminary.
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 31 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443179349307359
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