Kings College
- Assets
- $43.4m
- Revenue
- $13.6m
- Investments
- $0.0
- Employees
- 298
- Location
- New York, NY
- Founding
- 05/1965
- Data as of
- 08/2023
- EIN
- 13-1810448
Organization Overview
Kings College is located in New York, NY. The organization was established in 1965. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 08/2023, Kings College employed 298 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Kings College generated $13.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $24.5m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CHRISTIAN COLLEGE PREPARING STUDENTS FOR PRINCIPLED LEADERSHIP AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION OF STUDENTS - THE COLLEGE HAD ENROLLMENT OF 270 DEGREE SEEKING STUDENTS FOR FALL 2022 AND 237 DEGREE SEEKING STUDENTS FOR SPRING 2023. THROUGH ITS COMMITMENT TO THE TRUTHS OF CHRISTIANITY AND A BIBLICAL WORLDVIEW, THE KING'S COLLEGE SEEKS TO TRANSFORM SOCIETY BY PREPARING STUDENTS FOR CAREERS IN WHICH THEY HELP TO SHAPE AND EVENTUALLY TO LEAD STRATEGIC PUBLIC AND PRIVATE INSTITUTIONS, AND BY SUPPORTING FACULTY MEMBERS AS THEY DIRECTLY ENGAGE CULTURE THROUGH WRITING AND SPEAKING PUBLICLY ON CRITICAL ISSUES. AT THE KING'S COLLEGE, WE SEEK TO UNDERSTAND SOCIETY, TO STRENGTHEN AND APPLY OUR INTELLECT, AND TO DEVELOP CHRISTIAN CHARACTER, SO THAT WE MAY CHALLENGE, CHANGE, AND IMPROVE OUR CULTURE. FOR FOUR YEARS, OUR STUDENTS ARE SHAPED BY A RELEVANT AND SOPHISTICATED BIBLICAL WORLDVIEW. STUDENTS BECOME PERSUASIVE, INFLUENTIAL GRADUATES WHO COMMUNICATE WITH CLARITY AND FORCE AND WHO SUCCEED IN CHALLENGING PROFESSIONS. THIS IS ACCOMPLISHED THROUGH OUR CORE CURRICULUM AND MAJOR COURSES LEADING TO DEGREES IN POLITICS, PHILOSOPHY AND ECONOMICS; MEDIA, CULTURE AND THE ARTS; FINANCE; BUSINESS MANAGEMENT; RELIGIOUS AND THEOLOGICAL STUDIES; ENGLISH; PHILOSOPHY; HUMANITIES AND JOURNALISM, CULTURE AND SOCIETY. IN 2021, THE COLLEGE ENTERED INTO AN AGREEMENT TO PROMOTE AND SUPPORT KING'S ONLINE DEGREE PROGRAMS IN POLITICS, PHILOSOPHY AND ECONOMICS; LIBERAL STUDIES; BUSINESS MANAGEMENT; AND RELIGIOUS AND THEOLOGICAL STUDIES. THE FIRST STUDENTS BEGAN A COURSE OF STUDIES IN APRIL 2022. IN APRIL 2023 THE COLLEGE ENDED ITS AGREEMENT WITH THE EXTERNAL ORGANIZATION AND MOVED ALL ONLINE DEGREE PROGRAMS BACK UNDER REGULAR INTERNAL OPERATIONS. WE EDUCATE YOUNG LEADERS TO SEAMLESSLY INTEGRATE THEIR FAITH, ETHICS, AND MORALITY INTO THEIR LIVES AND CAREERS. STUDENTS ARE IMMERSED IN CHALLENGING ACADEMIC AND SPIRITUAL STUDY THAT DEMANDS THINKING, COMMUNICATING, AND PROBLEM-SOLVING WITH THE MIND, HEART, AND SOUL. WE REQUIRE ENGAGEMENT WITH COMPLEX IDEAS TO GUIDE THE STRATEGIC INSTITUTIONS OF SOCIETY - GOVERNMENT, COMMERCE, LAW, MEDIA, CIVIL SOCIETY, EDUCATION, THE ARTS, AND THE CHURCH. WE PARTICIPATE IN A DEMANDING CURRICULUM AND PRESENT UNIQUE OPPORTUNITIES TO STUDENTS IN THE HEART OF NEW YORK CITY. WE ARE NOT A COLLEGE FOR THE FAINT OF HEART - WE CALL OUR STUDENTS TO BE GOOD, BRAVE, AND READY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chairman | OfficerTrustee | 7 | $0 |
Name Not Listed Trustee (part Year), Interim President | OfficerTrustee | 20 | $0 |
Name Not Listed Interim President (part Year) | OfficerTrustee | 0.8 | $0 |
Name Not Listed Trustee | Trustee | 4 | $0 |
Name Not Listed Trustee | Trustee | 4 | $0 |
Name Not Listed Trustee | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tkc Operations Inc Admissions And Marketing Services | 8/30/23 | $673,500 |
Savills Studley Inc Real Estate Broker Services | 8/30/23 | $126,090 |
Allied Universal Security Services | 8/30/23 | $112,395 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,138,036 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,850,217 |
| Noncash contributions included in lines 1a–1f | $106,869 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,988,253 |
| Total Program Service Revenue | $10,221,328 |
| Investment income | $176,708 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $206,462 |
| Net Gain/Loss on Asset Sales | -$102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,155 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,626,438 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,086,060 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,048,666 |
| Compensation of current officers, directors, key employees. | $392,476 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,028,448 |
| Pension plan accruals and contributions | $67,006 |
| Other employee benefits | $830,711 |
| Payroll taxes | $559,020 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $507,717 |
| Fees for services: Accounting | $8,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,152,443 |
| Advertising and promotion | $4,556 |
| Office expenses | $187,560 |
| Information technology | $249,557 |
| Royalties | $0 |
| Occupancy | $5,663,950 |
| Travel | $174,960 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,542 |
| Interest | $1,911,224 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $231,774 |
| Insurance | $335,892 |
| All other expenses | $191,299 |
| Total functional expenses | $24,506,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $762,492 |
| Savings and temporary cash investments | $1,728,430 |
| Pledges and grants receivable | $18,522 |
| Accounts receivable, net | $892,120 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,262 |
| Prepaid expenses and deferred charges | $49,627 |
| Net Land, buildings, and equipment | $14,745,401 |
| Investments—publicly traded securities | $616,756 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,572,703 |
| Total assets | $43,396,313 |
| Accounts payable and accrued expenses | $3,488,258 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,914,573 |
| Secured mortgages and notes payable | $9,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,437,521 |
| Total liabilities | $41,840,352 |
| Net assets without donor restrictions | $734,874 |
| Net assets with donor restrictions | $821,087 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $43,396,313 |