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← GRACE SCHOOLS

Form 990 for tax year 2022

Filed by GRACE SCHOOLS.

Totals

Total revenue
$65,010,659
Total expenses
$61,412,478
Contributions and grants received
$8,948,926
Grants paid
$21,155,791
Program service revenue
$55,904,787
Investment income
$156,946
Other revenue
$0
Total assets, end of year
$85,935,849
Total liabilities, end of year
$30,724,966
Net assets or fund balances, end of year
$55,210,883
Program services expenses (Part IX)
$52,991,059
Management and general expenses
$7,367,673
Fundraising expenses
$1,053,746
Program service expenses (Part III)
$52,991,059

Program services were 86.3% 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

    $8,287

  • 1f · All other contributions, gifts and grants

    $8,940,639

  • 1g · Noncash contributions included above

    $3,211,414

  • 2a · Program service revenue: TUITION & FEES

    total $44,400,230 · related or exempt $44,400,230

  • 2b · Program service revenue: ROOM, BOARD, FEES

    total $11,504,557 · related or exempt $11,504,557

  • 3 · Investment income

    total $184,248 · excluded $184,248

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $3,482,471

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

    securities $3,509,773

  • 7c · Gain or loss

    securities -$27,302

  • 7d · Net gain or loss

    total -$27,302 · excluded -$27,302

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $21,155,791 · program services $21,155,791

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $307,877 · program services $246,695 · management and general $53,024 · fundraising $8,158

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $13,997,728 · program services $10,797,757 · management and general $2,724,026 · fundraising $475,945

  • 8 · Pension plan contributions

    total $556,374 · program services $478,482 · management and general $66,765 · fundraising $11,127

  • 9 · Other employee benefits

    total $2,494,631 · program services $1,816,388 · management and general $577,048 · fundraising $101,195

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $2,169,054 · program services $2,169,054

  • 11b · Fees: legal

    total $15,043 · management and general $15,043

  • 11c · Fees: accounting

    total $73,050 · management and general $73,050

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $54,503 · fundraising $54,503

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $4,375,032 · program services $3,762,527 · management and general $525,004 · fundraising $87,501

  • 12 · Advertising and promotion

    total $247,329 · program services $142,283 · management and general $105,046

  • 13 · Office expenses

    total $1,657,790 · program services $1,258,957 · management and general $324,471 · fundraising $74,362

  • 14 · Information technology

    total $954,500 · program services $507,038 · management and general $418,102 · fundraising $29,360

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $2,275,514 · program services $1,399,932 · management and general $872,825 · fundraising $2,757

  • 17 · Travel

    total $1,837,332 · program services $1,558,321 · management and general $236,445 · fundraising $42,566

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $72,705 · program services $55,349 · management and general $16,531 · fundraising $825

  • 20 · Interest

    total $1,123,840 · program services $966,502 · management and general $134,861 · fundraising $22,477

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,835,890 · program services $2,438,865 · management and general $340,307 · fundraising $56,718

  • 23 · Insurance

    total $315,682 · program services $24,901 · management and general $290,781

  • 24a · Other expenses: FOOD

    total $702,704 · program services $624,327 · management and general $59,793 · fundraising $18,584

  • 24b · Other expenses: MEMBERSHIP & DUES

    total $335,705 · program services $176,492 · management and general $154,831 · fundraising $4,382

  • 24c · Other expenses: TEXTBOOKS

    total $690,057 · program services $690,057

  • 24d · Other expenses: OTHER

    total $3,164,347 · program services $2,721,341 · management and general $379,720 · fundraising $63,286

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,672 · end of year $5,671

  • 2 · Savings and temporary cash investments

    beginning of year $6,112,035 · end of year $8,547,780

  • 3 · Pledges and grants receivable

    beginning of year $841,789 · end of year $738,500

  • 4 · Accounts receivable

    beginning of year $1,963,457 · end of year $622,019

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $3,145,734 · end of year $2,762,271

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $541,269 · end of year $677,114

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

    $92,925,249

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

    $42,542,820

  • 10c · Land, buildings and equipment, net

    beginning of year $51,732,966 · end of year $50,382,429

  • 11 · Investments: publicly traded securities

    beginning of year $18,640,786 · end of year $21,987,897

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $231,851 · end of year $212,168

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,811,195 · end of year $4,776,123

  • 18 · Grants payable

    beginning of year $678,310 · end of year $1,005,191

  • 19 · Deferred revenue

    beginning of year $45,417 · end of year $141,784

  • 20 · Tax-exempt bond liabilities

    beginning of year $15,438,973 · end of year $14,585,316

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $10,441,286 · end of year $9,941,239

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $379,533 · end of year $275,313

  • 27 · Net assets without donor restrictions

    beginning of year $19,886,187 · end of year $18,509,342

  • 28 · Net assets with donor restrictions

    beginning of year $31,534,658 · end of year $36,701,541

Mission and programs · 2022

Mission

GRACE COLLEGE IS AN EVANGELICAL CHRISTIAN COMMUNITY OF HIGHER EDUCATION WHICH APPLIES BIBLICAL VALUES IN STRENGTHENING CHARACTER, SHARPENING COMPETENCE, AND PREPARING FOR SERVICE. GRACE THEOLOGICAL SEMINARY IS A LEARNING COMMUNITY DEDICATED TO TEACHING, TRAINING, AND TRANSFORMING THE WHOLE PERSON FOR LOCAL CHURCH AND GLOBAL MINISTRY. AT GRACE, THE STUDENTS, ADMINISTRATION, FACULTY, AND STAFF AIM TOGETHER TO MAKE CHRIST PREEMINENT IN ALL THINGS. STUDENTS LEARN THIS BY LIVING, STUDYING, WORKING, WORSHIPING AND ACHIEVING ACADEMIC SUCCESS WITH OTHER YOUNG PEOPLE WHO SHARE SIMILAR CHRISTIAN IDEALS IN A SETTING WHERE THE COMMUNITY LIFESTYLE FOSTERS DEVOTION TO SERIOUS ACADEMIC INQUIRY, WHOLESOME RECREATION AND RELAXATION, AND MATURE SPIRITUAL GROWTH.

Activities or mission (Part I)

GRACE COLLEGE AND SEMINARY STRIVES TO BE AN EVANGELICAL CHRISTIAN COMMUNITY OF HIGHER EDUCATION.

  • INSTRUCTIONAL PROGRAMS LOCATED ON A 180 ACRE CAMPUS WITH 2 SATELLITE CAMPUSES SERVING APPROXIMATELY 2,000 UNDERGRADUATE AND GRADUATE STUDENTS IN 100+ MAJORS, MINORS, CERTIFICATES AND GRADUATE PROGRAMS. GRACE OFFERS A 3 YEAR DEGREE PROGRAM WITH OPPORTUNITY TO EARN A MASTERS DEGREE IN THE 4TH YEAR. EMPHASIS ON A BIBLICAL WORLD VIEW AND STUDENT OWNERSHIP OF PERSONAL FAITH THAT RIGHTLY HANDLES THE SCRIPTURES AS THE INERRANT AND VERBALLY INSPIRED WORD OF GOD.

    Expenses $45,286,750 · Grants $21,155,791 · Revenue $44,400,230

  • AUXILIARY PROGRAMS OFFERING RESIDENTIAL HOUSING AND MEALS ON 180 ACRE CAMPUS. GRACE OFFERS 18 VARSITY SPORTS AND A VIBRANT INTRAMURAL AND CLUB SPORTING PROGRAM. GRACE HAS 15 PRIMARY STUDENT ORGANIZATIONS AND MANY ACADEMIC CLUBS.

    Expenses $7,704,309 · Revenue $11,504,557

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR WILLIAM KATIP

    SENIOR ADVISOR

    Total calculated
    $287,002
    From this org
    $261,544
    From related orgs
    $0
    Other
    $25,458
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,591
    Bonus
    $10,622
    Other
    $16,331
    Deferred
    $25,458
    Nontaxable benefits
    $0
    Filer's total
    $287,002

  • DR ANDREW FLAMMSTART 0622

    PRESIDENT OF GRACE COLLEGE

    Total calculated
    $224,395
    From this org
    $201,682
    From related orgs
    $0
    Other
    $22,713
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $193,740
    Bonus
    $4,000
    Other
    $3,942
    Deferred
    $22,713
    Nontaxable benefits
    $0
    Filer's total
    $224,395

  • DR KEVIN ROBERTS

    VP ACADEMIC AFFIARS/PROVOST

    Total calculated
    $174,102
    From this org
    $164,568
    From related orgs
    $0
    Other
    $9,534
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,506
    Bonus
    $2,000
    Other
    $62
    Deferred
    $9,534
    Nontaxable benefits
    $0
    Filer's total
    $174,102

  • DR TIM ZIEBARTH

    DEAN OF ONLINE EDUCATION

    Total calculated
    $165,253
    From this org
    $155,858
    From related orgs
    $0
    Other
    $9,395
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,720
    Bonus
    $0
    Other
    $138
    Deferred
    $9,395
    Nontaxable benefits
    $0
    Filer's total
    $165,253

  • DR ROGER STICHTER

    PROFESSOR ACCOUNTING & FINANCE

    Total calculated
    $144,166
    From this org
    $136,421
    From related orgs
    $0
    Other
    $7,745
    Hours/week
    40

  • MR DOUG BAUMGARDNER

    CFO

    Total calculated
    $143,608
    From this org
    $134,816
    From related orgs
    $0
    Other
    $8,792
    Hours/week
    40 + 5 related

  • DR NATHAN BOSCH

    DIRECTOR LCFLS

    Total calculated
    $143,432
    From this org
    $135,686
    From related orgs
    $0
    Other
    $7,746
    Hours/week
    40

  • DR JON TEEVAN LEFT 0622

    INTERM PRESIDENT

    Total calculated
    $64,612
    From this org
    $44,286
    From related orgs
    $0
    Other
    $20,326
    Hours/week
    40

  • MR SCOTT SILVEUS

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MR DANIEL SANDOVAL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR RAY SHOOK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR MATT ABERNETHY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR ROBERT BISHOP

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • REV KIP CONE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MR GREG DOSMANN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DR KELLY GEISLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR JAMES GRADY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MRS JENNIFER HOLLAR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MR RANDY LAKE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR LAMARR LARK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MS PHYLLIS MARWAH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • REV JOHN MCINTOSH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR SETH NASH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR DANIEL W RENNER

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MR ANDREW SERAFINI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DR JOHN F SMITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MRS LETITIA WILLIAMS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • REV MICHAEL YODER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MS JANINE ZELTWANGER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MR JONATHAN ALLAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MRS MONICA MORRISON

    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. 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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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)

PART I, LINE 1A
THE PRESIDENT RECEIVED A MINIMAL GROSS UP PAYMENT TO HIS BASE PAY. GRACE SCHOOLS PROVIDED COMPENSATION TO COVER PART OF THE COST OF THE INDIVIDUAL EXPENSE FOR THE MEDI-SHARE PLAN. THIS AMOUNT WAS TAXABLE IN BOX 1 ON THE PRESIDENT'S W-2.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST

    CHAR. REM. TR · IN

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
15 September 2023
IRS schema version
2022v5.0
Source object
202343529349300134

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