Carolina College Of Biblical Studies
- Assets
- $3.6m
- Revenue
- $2.0m
- Investments
- $569.6k
- Employees
- 54
- Location
- Fayetteville, NC
- Founding
- 01/1989
- Data as of
- 06/2021
- 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 06/2021, Carolina College Of Biblical Studies employed 54 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 06/2021, Carolina College Of Biblical Studies generated $2.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.5m during the year ending 06/2021. While expenses have increased by 5.9% per year over the past 6 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
2021
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 |
|---|---|---|---|
Bill Korver President | OfficerTrustee | 40 | $94,525 |
Fred Berkheimer Chairman | OfficerTrustee | 0.5 | $0 |
Todd C Conormon Vice-Chair | OfficerTrustee | 0.5 | $0 |
Deb Bruton Secretary | OfficerTrustee | 0.5 | $0 |
Claude Haley Jr Treasurer | OfficerTrustee | 1 | $0 |
Connie Brooks-Fernandez Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,000 |
| Related organizations | $0 |
| Government grants | $600,826 |
| All other contributions, gifts, grants, and similar amounts not included above | $444,004 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,048,830 |
| Total Program Service Revenue | $860,580 |
| Investment income | $19,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $30,070 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,960,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $48,079 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $126,400 |
| Compensation of current officers, directors, key employees. | $41,712 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $665,082 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,300 |
| Payroll taxes | $57,361 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,063 |
| Fees for services: Other | $6,445 |
| Advertising and promotion | $135,743 |
| Office expenses | $24,498 |
| Information technology | $54,618 |
| Royalties | $0 |
| Occupancy | $53,019 |
| Travel | $9,922 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,558 |
| Interest | $4,744 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,168 |
| Insurance | $12,903 |
| All other expenses | $0 |
| Total functional expenses | $1,481,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,047 |
| Savings and temporary cash investments | $917,481 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,849 |
| 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 | $1,990,582 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $569,570 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,801 |
| Total assets | $3,619,330 |
| Accounts payable and accrued expenses | $17,804 |
| Grants payable | $0 |
| Deferred revenue | $224,895 |
| 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 | $242,699 |
| Net assets without donor restrictions | $2,762,671 |
| Net assets with donor restrictions | $613,960 |
| 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 | $3,619,330 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Carolina College Of Biblical Studies has recieved totaling $21,745.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $12,400 |
Cumberland Community Foundation Inc Fayetteville, NC PURPOSE: CHARITABLE GIFT | $6,580 |
The Sharlene Riddle Williams Family Foundation Inc Fayetteville, NC PURPOSE: TO SUPPORT CHARITABLE MISSION | $1,500 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $1,150 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $115 |
Endowment Analysis
| Beg. Balance | $468,867 |
| Earnings | $125,446 |
| Admin Expense | $6,063 |
| Grants | $18,680 |
| Ending Balance | $569,570 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Mary Washington Foundation Fredericksburg, VA | $186,636,934 | $19,915,035 |
Lemoyne Owen College Memphis, TN | $53,577,456 | $23,441,931 |
Voorhees College Denmark, SC | $34,849,156 | $40,025,778 |
Patrick Henry College Purcellville, VA | $42,398,323 | $19,179,268 |
Brewton Parker College Inc Mount Vernon, GA | $26,983,767 | $18,922,646 |
Bennett College Greensboro, NC | $45,162,174 | $40,377,386 |
Morris College Sumter, SC | $47,268,567 | $16,212,901 |
Welch College Gallatin, TN | $41,634,056 | $11,542,139 |
Paine College Augusta, GA | $39,651,651 | $10,570,569 |
Fairfax University Of America Fairfax, VA | $12,151,860 | $8,266,608 |
Clayton State University Foundation Inc Morrow, GA | $97,218,630 | $15,697,742 |
American Baptist Theological Seminary Nashville, TN | $11,177,466 | $7,876,217 |