Faith Baptist Bible College
- Assets
- $19.9m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 397
- Location
- Ankeny, IA
- Founding
- 10/1967
- Data as of
- 06/2024
- EIN
- 47-0394397
Organization Overview
Faith Baptist Bible College is located in Ankeny, IA. The organization was established in 1967. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2024, Faith Baptist Bible College employed 397 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith Baptist 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 06/2024, Faith Baptist Bible College generated $10.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $10.4m during the year ending 06/2024. While expenses have increased by 5.7% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POST SECONDARY EDUCATIONAL INSTITUTION - COLLEGE STUDENTS (FALL 2023-399); (SPRING 2024-375) 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.
GRADUATE EDUCATION INSTITUTION - SEMINARY STUDENTS (FALL 2023 - 31); (SPRING 2024 - 37) 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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Blackstone Director | Trustee | 3 | $0 |
Steven Bohn Director | Trustee | 3 | $0 |
David Burman Jr Director & Secretary | OfficerTrustee | 3 | $0 |
Tim Capon Director & Chairman | OfficerTrustee | 3 | $0 |
Samuel Choi Director | Trustee | 3 | $0 |
Kenneth R Hansen Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wells Fargo Visa Credit Card Payments | 6/29/18 | $489,718 |
Wellmark Bluecross Blueshield Group Medical Insurance Premiums | 6/29/18 | $352,667 |
Midamerican Energy Company Utilities - Gas And Electricity | 6/29/18 | $192,843 |
Sysco Food Services Of Iowa Wholesale Food Distribution | 6/29/18 | $170,238 |
Lmc Insurance & Risk Management Insurance Premimums | 6/29/18 | $121,487 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,839,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,839,126 |
| Total Program Service Revenue | $7,339,348 |
| Investment income | $591,313 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $337,927 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,107,714 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $641,675 |
| Compensation of current officers, directors, key employees. | $307,057 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,968,415 |
| Pension plan accruals and contributions | $64,016 |
| Other employee benefits | $890,887 |
| Payroll taxes | $277,905 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,315 |
| Fees for services: Accounting | $74,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $85,277 |
| Fees for services: Other | $118,772 |
| Advertising and promotion | $0 |
| Office expenses | $355,229 |
| Information technology | $189,802 |
| Royalties | $0 |
| Occupancy | $379,503 |
| Travel | $406,793 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $308,903 |
| Interest | $75,334 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $699,223 |
| Insurance | $124,135 |
| All other expenses | $0 |
| Total functional expenses | $10,397,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,577 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $221,858 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $306,498 |
| Prepaid expenses and deferred charges | $44,503 |
| Net Land, buildings, and equipment | $8,549,029 |
| Investments—publicly traded securities | $10,421,787 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,924,252 |
| Accounts payable and accrued expenses | $195,063 |
| 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 | $0 |
| Secured mortgages and notes payable | $1,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,124,281 |
| Total liabilities | $2,819,344 |
| Net assets without donor restrictions | $11,353,032 |
| Net assets with donor restrictions | $5,751,876 |
| 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 | $19,924,252 |