Heritage Bible College
- Assets
- $272.4k
- Revenue
- $448.2k
- Investments
- $0.0
- Employees
- 21
- Location
- Dunn, NC
- Founding
- 03/1980
- Data as of
- 06/2022
- EIN
- 56-1212691
Organization Overview
Heritage Bible College is located in Dunn, NC. The organization was established in 1980. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Heritage Bible College employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage 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 06/2022, Heritage Bible College generated $448.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $437.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.7%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE COLLEGE PROVIDES POST-SECONDARY CHRISTIAN EDUCATION TO MEN AND WOMEN IN THE MINISTRY OR THOSE INDIVIDUALS THAT PLAN TO GO INTO THE MINISTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLEGE TRAINED NUMEROUS STUDENTS FOR ENTRY INTO THE MINISTRY BY OFFERING ASSOCIATE AND BACHELOR DEGREES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Rzonca President | Officer | 40 | $56,336 |
Matthew Clark Treasurer | OfficerTrustee | 0.4 | $16,484 |
Teresa Alphin Vice Chair | OfficerTrustee | 0.4 | $0 |
Randy Barker Chair | OfficerTrustee | 0.4 | $0 |
Kimberly Hargrove Secretary | OfficerTrustee | 0.4 | $0 |
Kelvin Blackman Trustee | Trustee | 0.4 | $0 |
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 | $214,087 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,087 |
| Total Program Service Revenue | $233,889 |
| Investment income | $36 |
| 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 | $448,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,718 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $56,543 |
| Compensation of current officers, directors, key employees. | $56,543 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $234,967 |
| Pension plan accruals and contributions | $5,965 |
| Other employee benefits | $350 |
| Payroll taxes | $21,035 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,551 |
| Advertising and promotion | $5,353 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198 |
| Insurance | $4,027 |
| All other expenses | $15,192 |
| Total functional expenses | $437,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,249 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $182 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $272,431 |
| Accounts payable and accrued expenses | $6,760 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,760 |
| Net assets without donor restrictions | $237,162 |
| Net assets with donor restrictions | $28,509 |
| 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 | $272,431 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Heritage Bible College has recieved totaling $15,582.
| Awarding Organization | Amount |
|---|---|
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: EDUCATION | $15,582 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Hampden-Sydney College Hampdensydney, VA | $332,900,116 | $118,845,969 |
Oglethorpe University Inc Atlanta, GA | $134,446,425 | $78,800,641 |
Virginia Wesleyan University Virginia Beach, VA | $159,824,749 | $67,002,662 |
Claflin University Orangeburg, SC | $159,550,066 | $90,488,927 |
Emory & Henry College Emory, VA | $275,319,124 | $70,928,101 |
Catawba College Salisbury, NC | $404,243,208 | $275,797,439 |
Benedict College Columbia, SC | $122,453,279 | $61,010,211 |