Carolina College Of Biblical Studies
- Assets
- $3.5m
- Revenue
- $1.4m
- Investments
- $489.8k
- Employees
- 55
- Location
- Fayetteville, NC
- Founding
- 01/1989
- Data as of
- 06/2022
- EIN
- 56-1388743
Organization Overview
Carolina College Of Biblical Studies is located in Fayetteville, NC. The organization was established in 1989. 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, Carolina College Of Biblical Studies employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina College Of Biblical Studies 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, Carolina College Of Biblical Studies generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. 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
CAROLINA COLLEGE OF BIBLICAL STUDIES EXISTS TO DISCIPLE CHRIST-FOLLOWERS, THROUGH BIBLICAL HIGHER EDUCATION, FOR A LIFETIME OF EFFECTIVE SERVANT LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE INDIVIDUALS TO KNOW AND APPLY GOD'S WORD IN THE CONTEXT OF EFFECTIVE LOCAL CHURCH MINISTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Barrett Director | Trustee | 0.5 | $0 |
Bill Korver President | OfficerTrustee | 40 | $121,600 |
Brad Haley Director | Trustee | 1 | $0 |
Claude Haley Jr Treasurer | OfficerTrustee | 1 | $0 |
Connie Brooks-Fernandez Director | Trustee | 0.5 | $0 |
David Tauber Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $51,423 |
| Related organizations | $0 |
| Government grants | $81,069 |
| All other contributions, gifts, grants, and similar amounts not included above | $383,730 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $516,222 |
| Total Program Service Revenue | $841,619 |
| Investment income | $45,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$357 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,405,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $39,881 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $173,997 |
| Compensation of current officers, directors, key employees. | $57,419 |
| Compensation to disqualified persons | $27,955 |
| Other salaries and wages | $561,168 |
| Pension plan accruals and contributions | $10,050 |
| Other employee benefits | $275 |
| Payroll taxes | $47,802 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,322 |
| Fees for services: Other | $6,478 |
| Advertising and promotion | $105,610 |
| Office expenses | $20,396 |
| Information technology | $53,751 |
| Royalties | $0 |
| Occupancy | $50,285 |
| Travel | $18,307 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,435 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,545 |
| Insurance | $14,209 |
| All other expenses | $0 |
| Total functional expenses | $1,352,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $205,059 |
| Savings and temporary cash investments | $813,867 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,065 |
| 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 | $1,941,347 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $489,776 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,122 |
| Total assets | $3,505,236 |
| Accounts payable and accrued expenses | $42,837 |
| Grants payable | $0 |
| Deferred revenue | $150,407 |
| 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 | $193,244 |
| Net assets without donor restrictions | $2,800,413 |
| Net assets with donor restrictions | $511,579 |
| 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 | $3,505,236 |