Great Lakes Bible College
- Assets
- $3.3m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 161
- Location
- Lansing, MI
- Founding
- 06/1959
- Data as of
- 06/2021
- EIN
- 38-6080947
Organization Overview
Great Lakes Bible College is located in Lansing, MI. The organization was established in 1959. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Great Lakes Bible College employed 161 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Lakes Bible 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 06/2021, Great Lakes Bible College generated $3.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $3.3m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BIBLE-ORIENTED SYSTEMATIC TRAINING, RESULTING IN A TWO OR FOUR YEAR DEGREE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AUXILIARY AND SUPPORT SERVICES INCLUDING CAFETERIA, BOOKSTORE AND HOUSING FACILITIES. STUDENT HOUSING WAS PROVIDED FOR APPROXIMATELY 98 STUDENTS FOR THE 2020 FALL SEMESTER AND THE 2021 SPRING SEMESTER.
EDUCATIONAL - INCLUDING TWO AND FOUR YEAR DEGREES. MAIN EMPHASIS ON BIBLICAL STUDIES. 2020-2021 FALL SEMESTER ENROLLMENT WAS APPROX. 170 STUDENTS. 2020-2021 SPRING SEMESTER ENROLLMENT WAS APPROX. 146 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence L Carter President | Officer | 40 | $98,046 |
Timothy Wynsma VP Finance/operations Star | Officer | 40 | $63,014 |
James Platner Secretary | OfficerTrustee | 5 | $0 |
Frank Weller Chair | OfficerTrustee | 5 | $0 |
Brian Wood Treasurer | OfficerTrustee | 5 | $0 |
William Gray Vice Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Creative Dining Services Food Service | 6/29/20 | $141,901 |
Gordon Food Service Food Service | 6/29/20 | $101,914 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,912,920 |
| Investment income | $48,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,193,047 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $105,557 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $160,596 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $998,004 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $194,189 |
| Payroll taxes | $76,264 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,146 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $227,823 |
| Advertising and promotion | $103,284 |
| Office expenses | $267,167 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $447,710 |
| Travel | $96,255 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,317 |
| Interest | $51,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,499 |
| Insurance | $31,470 |
| All other expenses | $0 |
| Total functional expenses | $3,276,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,514 |
| Savings and temporary cash investments | $1,448,208 |
| Pledges and grants receivable | $10,163 |
| Accounts receivable, net | $130,586 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,624 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $646,800 |
| Other assets | $200,000 |
| Total assets | $3,326,303 |
| Accounts payable and accrued expenses | $37,352 |
| Grants payable | $0 |
| Deferred revenue | $330,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $980,228 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $67,149 |
| Total liabilities | $1,414,729 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,911,574 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Great Lakes Bible College has recieved totaling $5,150.
| Awarding Organization | Amount |
|---|---|
Matthew 28 18-20 Charitable Foundation South Bend, IN PURPOSE: GENERAL SUPPORT | $5,150 |
Endowment Analysis
| Beg. Balance | $1,117,863 |
| Earnings | -$4,984 |
| Net Contributions | $8,583 |
| Other Expense | $21,418 |
| Ending Balance | $1,100,044 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baker College Flint, MI | $33,908,610 | $19,974,450 |
Baker College Flint, MI | $26,174,553 | $16,788,668 |
Calumet College Whiting, IN | $23,910,768 | $16,116,296 |
Bellin College Inc Green Bay, WI | $39,042,736 | $15,163,582 |
Wilberforce University Wilberforce, OH | $28,180,485 | $40,652,171 |
Grace Christian University Wyoming, MI | $13,530,874 | $15,083,160 |
Art Academy Of Cincinnati Cincinnati, OH | $6,583,513 | $9,495,180 |
Pontifical College Josephinum Columbus, OH | $57,627,425 | $9,311,900 |
Baker College Flint, MI | $15,732,306 | $4,978,817 |
Kuyper College Grand Rapids, MI | $13,506,417 | $6,841,093 |
Gods Bible School College And Missionary Training Home Cincinnati, OH | $9,412,262 | $6,100,308 |
Michigan Colleges Alliance Southfield, MI | $5,177,739 | $4,811,451 |