Welch College
- Assets
- $39.3m
- Revenue
- $8.0m
- Investments
- $2.2m
- Employees
- 210
- Location
- Gallatin, TN
- Founding
- 11/1991
- Data as of
- 05/2023
- EIN
- 62-0481463
Organization Overview
Welch College is located in Gallatin, TN. The organization was established in 1991. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Welch College employed 210 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Welch 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 05/2023, Welch College generated $8.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $10.4m during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WELCH COLLEGE IS A CHRISTIAN HIGHER EDUCATION INSTITUTION THAT EDUCATES LEADERS TO SERVE CHRIST, HIS CHURCH, AND HIS WORLD THROUGH BIBLICAL THOUGHT AND LIFE
Describe the Organization's Program Activity:
Part 3 - Line 4a
WELCH COLLEGE IS A CHRISTIAN HIGHER EDUCATION INSTITUTION THAT EDUCATES LEADERS TO SERVE CHRIST, HIS CHURCH, AND HIS WORLD THROUGH BIBLICAL THOUGHT AND LIFE. WE PROVIDE OUR STUDENTS A UNIQUE OPPORTUNITY TO PREPARE FOR LEADERSHIP IN THE PLACE OF SERVICE TO WHICH GOD IS CALLING THEM. WE DO THIS BY TEACHING STUDENTS TO CONFRONT THE INESCAPABLE QUESTIONS OF LIFE FROM THE VANTAGE POINT OF A CHRISTIAN WORLDVIEW, REALISING THE IMPLICATIONS OF CHRISTIAN FAITH FOR THE WORLD AROUND THEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Will Beauchamp Board Of Trustees Member | Trustee | 1 | $0 |
Dr Jeff Crabtree Chairman | OfficerTrustee | 1 | $0 |
Rev Shiloh Hackett Board Of Trustees Member | Trustee | 1 | $0 |
Rev Wayne Miracle Secretary | OfficerTrustee | 1 | $0 |
Rev Brad Ryan Board Of Trustees Member | Trustee | 1 | $0 |
Rev Tim Campbell Board Of Trustees Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Cross Blue Shielt Of Tennessee Insurance Provider | 5/30/23 | $534,703 |
Pioneer College Caterers Inc Food Service | 5/30/23 | $450,609 |
White & Associates Management Maintenance | 5/30/23 | $297,303 |
Servpro Of Sumner County Water Damage Restorer | 5/30/23 | $242,087 |
Gallatin Department Of Electricity Utilities | 5/30/23 | $179,099 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $920,195 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,675,201 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,595,396 |
| Total Program Service Revenue | $5,275,410 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$918,786 |
| Net Income from Fundraising Events | $106,371 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,976,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,999,995 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $364,874 |
| Compensation of current officers, directors, key employees. | $73,064 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,342,928 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $803,948 |
| Payroll taxes | $8,491 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,796 |
| Fees for services: Accounting | $48,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,079 |
| Advertising and promotion | $152,668 |
| Office expenses | $366,679 |
| Information technology | $158,032 |
| Royalties | $0 |
| Occupancy | $700,575 |
| Travel | $555,575 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $741 |
| Interest | $847,669 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $721,066 |
| Insurance | $105,832 |
| All other expenses | $171,893 |
| Total functional expenses | $10,398,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,822 |
| Savings and temporary cash investments | $447,277 |
| Pledges and grants receivable | $200,564 |
| Accounts receivable, net | $27,693 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,800,000 |
| Inventories for sale or use | $3,924 |
| Prepaid expenses and deferred charges | $117,863 |
| Net Land, buildings, and equipment | $30,303,944 |
| Investments—publicly traded securities | $1,625,493 |
| Investments—other securities | $2,226,996 |
| Investments—program-related | $1,067,607 |
| Intangible assets | $0 |
| Other assets | $58,000 |
| Total assets | $39,288,183 |
| Accounts payable and accrued expenses | $592,377 |
| Grants payable | $0 |
| Deferred revenue | $70,049 |
| 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 | $17,372,297 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $176,731 |
| Total liabilities | $18,211,454 |
| Net assets without donor restrictions | $15,708,676 |
| Net assets with donor restrictions | $5,368,053 |
| 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 | $39,288,183 |