Grace Schools
- Assets
- $85.9m
- Revenue
- $65.0m
- Investments
- $0.0
- Employees
- 1,138
- Location
- Winona Lake, IN
- Founding
- 03/1941
- Data as of
- 04/2023
- EIN
- 35-0868095
Organization Overview
Grace Schools is located in Winona Lake, IN. The organization was established in 1941. As of 04/2023, Grace Schools employed 1,138 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Schools 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 04/2023, Grace Schools generated $65.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $61.4m during the year ending 04/2023. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GRACE COLLEGE AND SEMINARY STRIVES TO BE AN EVANGELICAL CHRISTIAN COMMUNITY OF HIGHER EDUCATION.
Describe the Organization's Program Activity:
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr William Katip Senior Advisor | 40 | $261,544 | |
Dr Andrew Flammstart 0622 President Of Grace College | Officer | 40 | $201,682 |
Dr Kevin Roberts VP Academic Affiars/provost | 40 | $164,568 | |
Dr Tim Ziebarth Dean Of Online Education | 40 | $155,858 | |
Dr Roger Stichter Professor Accounting & Finance | 40 | $136,421 | |
Mr Doug Baumgardner CFO | Officer | 40 | $134,816 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc And Affiliates Food Service | 4/29/23 | $2,793,211 |
Aramark Services Inc Maintenance | 4/29/23 | $2,191,167 |
Harmony Marketing Group Printing Services | 4/29/23 | $349,325 |
Winona It Llc It Services | 4/29/23 | $371,399 |
Slingshot Lp Book Supplier | 4/29/23 | $978,151 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,287 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,940,639 |
| Noncash contributions included in lines 1a–1f | $3,211,414 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,948,926 |
| Total Program Service Revenue | $55,904,787 |
| Investment income | $184,248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,302 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,010,659 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,155,791 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $307,877 |
| Compensation of current officers, directors, key employees. | $53,024 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,997,728 |
| Pension plan accruals and contributions | $556,374 |
| Other employee benefits | $2,494,631 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,169,054 |
| Fees for services: Legal | $15,043 |
| Fees for services: Accounting | $73,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $54,503 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,375,032 |
| Advertising and promotion | $247,329 |
| Office expenses | $1,657,790 |
| Information technology | $954,500 |
| Royalties | $0 |
| Occupancy | $2,275,514 |
| Travel | $1,837,332 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,705 |
| Interest | $1,123,840 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,835,890 |
| Insurance | $315,682 |
| All other expenses | $0 |
| Total functional expenses | $61,412,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,671 |
| Savings and temporary cash investments | $8,547,780 |
| Pledges and grants receivable | $738,500 |
| Accounts receivable, net | $622,019 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,762,271 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $677,114 |
| Net Land, buildings, and equipment | $50,382,429 |
| Investments—publicly traded securities | $21,987,897 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $212,168 |
| Total assets | $85,935,849 |
| Accounts payable and accrued expenses | $4,776,123 |
| Grants payable | $1,005,191 |
| Deferred revenue | $141,784 |
| Tax-exempt bond liabilities | $14,585,316 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,941,239 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $275,313 |
| Total liabilities | $30,724,966 |
| Net assets without donor restrictions | $18,509,342 |
| Net assets with donor restrictions | $36,701,541 |
| 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 | $85,935,849 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grace Schools Winona Lake, IN | $85,935,849 | $65,010,659 |
Kentucky Christian University Inc Grayson, KY | $38,563,521 | $22,232,558 |
Eden Theological Seminary St Louis, MO | $27,218,689 | $4,465,389 |
Tyndale Theological Seminary Inc Fka Tyndale International Mission Wheaton, IL | $1,602,285 | $1,326,704 |
Northland Mission Inc Dunbar, WI | $2,771,352 | $719,452 |
Southland Bible Institute Ashland, KY | $1,463,888 | $413,201 |
Divinity School Asso Of The Univ Chicago Chicago, IL | $63,114 | $115,793 |
Pilgrim Institute Mishawaka, IN | $74,150 | $0 |