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Nonprofiteer
← FAITH BAPTIST BIBLE COLLEGE

Form 990 for tax year 2022

Filed by FAITH BAPTIST BIBLE COLLEGE.

Totals

Total revenue
$8,596,403
Total expenses
$9,286,281
Contributions and grants received
$1,782,559
Grants paid
$0
Program service revenue
$6,285,542
Investment income
$528,302
Other revenue
$0
Total assets, end of year
$19,602,397
Total liabilities, end of year
$2,208,185
Net assets or fund balances, end of year
$17,394,212
Program services expenses (Part IX)
$6,939,468
Management and general expenses
$2,147,713
Fundraising expenses
$199,100
Program service expenses (Part III)
$6,939,468

Program services were 74.7% 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.

  • 1f · All other contributions, gifts and grants

    $1,782,559

  • 2a · Program service revenue: Tuition and Fees

    total $3,032,312 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Auxiliary enterprises

    total $3,125,424 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Miscellaneous fees

    total $169,210 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total -$41,404 · unrelated business $0 · excluded -$41,404

  • 3 · Investment income

    total $216,842 · unrelated business $0 · excluded $216,842

  • 7a · Gross sales of assets other than inventory

    securities $1,758,683 · other assets $800

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

    securities $1,448,023 · other assets $0

  • 7c · Gain or loss

    securities $310,660 · other assets $800

  • 7d · Net gain or loss

    total $311,460 · related or exempt $800 · unrelated business $0 · excluded $310,660

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $612,415 · program services $241,659 · management and general $295,898 · fundraising $74,858

  • 7 · Other salaries and wages

    total $3,762,314 · program services $3,162,287 · management and general $569,072 · fundraising $30,955

  • 8 · Pension plan contributions

    total $53,921 · program services $41,956 · management and general $10,661 · fundraising $1,304

  • 9 · Other employee benefits

    total $520,337 · program services $418,088 · management and general $90,515 · fundraising $11,734

  • 10 · Payroll taxes

    total $236,001 · program services $170,413 · management and general $59,028 · fundraising $6,560

  • 11a · Fees: management

    total $10,289 · program services $0 · management and general $10,289 · fundraising $0

  • 11c · Fees: accounting

    total $98,460 · program services $64,815 · management and general $33,645 · fundraising $0

  • 11f · Fees: investment management

    total $79,041 · program services $0 · management and general $79,041 · fundraising $0

  • 13 · Office expenses

    total $343,605 · program services $249,928 · management and general $87,052 · fundraising $6,625

  • 14 · Information technology

    total $158,786 · program services $53,720 · management and general $94,681 · fundraising $10,385

  • 16 · Occupancy

    total $375,581 · program services $179,180 · management and general $196,401 · fundraising $0

  • 17 · Travel

    total $349,110 · program services $263,838 · management and general $58,634 · fundraising $26,638

  • 19 · Conferences, conventions and meetings

    total $335,033 · program services $233,177 · management and general $100,027 · fundraising $1,829

  • 20 · Interest

    total $20,414 · program services $2,799 · management and general $17,615 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $682,617 · program services $559,746 · management and general $122,871 · fundraising $0

  • 23 · Insurance

    total $121,368 · program services $34,607 · management and general $86,761 · fundraising $0

  • 24a · Other expenses: Food purchases

    total $411,837 · program services $411,837 · management and general $0 · fundraising $0

  • 24b · Other expenses: Books and publications

    total $442,906 · program services $415,207 · management and general $2,352 · fundraising $25,347

  • 24c · Other expenses: Repairs and maintenance

    total $235,667 · program services $56,448 · management and general $179,219 · fundraising $0

  • 24d · Other expenses: Miscellaneous expenses

    total $436,579 · program services $379,763 · management and general $53,951 · fundraising $2,865

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $576,405 · end of year $293,751

  • 4 · Accounts receivable

    beginning of year $183,526 · end of year $227,802

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $296,974 · end of year $307,111

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,712 · end of year $39,866

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

    $21,056,020

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

    $12,272,707

  • 10c · Land, buildings and equipment, net

    beginning of year $8,574,036 · end of year $8,783,313

  • 11 · Investments: publicly traded securities

    beginning of year $9,307,106 · end of year $9,950,554

  • 17 · Accounts payable and accrued expenses

    beginning of year $194,801 · end of year $293,128

  • 23 · Secured mortgages and notes payable

    end of year $800,000

  • 25 · Other liabilities

    beginning of year $1,202,312 · end of year $1,115,057

  • 27 · Net assets without donor restrictions

    beginning of year $12,744,755 · end of year $12,059,401

  • 28 · Net assets with donor restrictions

    beginning of year $4,861,891 · end of year $5,334,811

Mission and programs · 2022

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 2022-318); (Spring 2023-318) 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 $3,791,419 · Revenue $2,713,507

  • Graduate education institution - Seminary Students (Fall 2022 - 46); (Spring 2023 - 39) 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 $367,892 · Revenue $318,805

  • 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 $2,780,157 · Revenue $3,125,424

As filed on the 2022 return.

Listed in Part VII

  • Bernie Augsburger

    Director

    Total calculated
    $0
    Hours/week
    3

  • 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

  • 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
    $127,150
    From this org
    $127,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Martin T Herron

    Executive Vice President

    Total calculated
    $81,646
    From this org
    $81,646
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Daniel H Bjokne

    Vice President

    Total calculated
    $74,858
    From this org
    $74,858
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Mark L Davis

    Vice President

    Total calculated
    $71,323
    From this org
    $71,323
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Douglas E Brown

    Dean of Seminary

    Total calculated
    $74,985
    From this org
    $74,985
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kenneth D Rathbun

    Vice President, Academic Dean

    Total calculated
    $95,350
    From this org
    $95,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Paul Bray

    Vice President & CFO

    Total calculated
    $87,102
    From this org
    $87,102
    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
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349303560

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