Heritage Bible College
- Assets
- $262.5k
- Revenue
- $414.0k
- Investments
- $0.0
- Employees
- 19
- Location
- Dunn, NC
- Founding
- 03/1980
- Data as of
- 06/2023
- 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 06/2023, Heritage Bible College employed 19 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 06/2023, Heritage Bible College generated $414.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $427.9k during the year ending 06/2023. 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
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Barker Chair | OfficerTrustee | 0.4 | $0 |
Wesley C Hamilton Vice Chair | OfficerTrustee | 0.4 | $0 |
Marlene Strongs Secretary | OfficerTrustee | 0.4 | $0 |
Carolyn Weeks Treasurer | OfficerTrustee | 0.4 | $0 |
Teresa Alphin Trustee | Trustee | 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 | $179,499 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $179,499 |
| Total Program Service Revenue | $232,595 |
| Investment income | $1,400 |
| 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 | $413,968 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,893 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $59,602 |
| Compensation of current officers, directors, key employees. | $57,920 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $241,984 |
| Pension plan accruals and contributions | $5,507 |
| Other employee benefits | $0 |
| Payroll taxes | $22,892 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,480 |
| Advertising and promotion | $4,739 |
| 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 | $182 |
| Insurance | $3,664 |
| All other expenses | $9,832 |
| Total functional expenses | $427,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,613 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,854 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $262,467 |
| Accounts payable and accrued expenses | $10,703 |
| 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 | $10,703 |
| Net assets without donor restrictions | $215,465 |
| Net assets with donor restrictions | $36,299 |
| 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 | $262,467 |