Welch College
- Assets
- $41.6m
- Revenue
- $11.5m
- Investments
- $2.7m
- Employees
- 243
- Location
- Gallatin, TN
- Founding
- 11/1991
- Data as of
- 05/2022
- 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 05/2022, Welch College employed 243 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 05/2022, Welch College generated $11.5m 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 (7.2%) each year. All expenses for the organization totaled $10.2m during the year ending 05/2022. 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
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 |
|---|---|---|---|
J Matthew Pinson President | Officer | 40 | $73,164 |
Kevin Hester VP Institutional Effective | Officer | 40 | $67,356 |
Greg Ketteman VP Strategic Initiatives | Officer | 40 | $64,207 |
Jon Forlines VP Student Services/ Dean | Officer | 40 | $52,659 |
Craig Mahler Vp-Financial Affairs | Officer | 40 | $32,613 |
Matthew Bracey Vice Provost | Officer | 40 | $29,629 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pioneer College Caterers Inc Food Service | 5/30/22 | $374,606 |
Blue Cross Blue Shielt Of Tennessee Insurance Provider | 5/30/22 | $193,683 |
Gallatin Department Of Electricity Utilities | 5/30/22 | $152,934 |
White & Associates Management Maintenance | 5/30/22 | $255,798 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,878,066 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,531,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,409,192 |
| Total Program Service Revenue | $4,911,528 |
| Investment income | $161,975 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$23,245 |
| Net Income from Fundraising Events | $54,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,542,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,178,615 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $354,660 |
| Compensation of current officers, directors, key employees. | $66,334 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,529,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $766,400 |
| Payroll taxes | $7,681 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,400 |
| Fees for services: Accounting | $38,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,803 |
| Advertising and promotion | $177,057 |
| Office expenses | $373,016 |
| Information technology | $128,019 |
| Royalties | $0 |
| Occupancy | $568,978 |
| Travel | $502,456 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $736,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $775,512 |
| Insurance | $98,746 |
| All other expenses | $198,325 |
| Total functional expenses | $10,173,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $595,235 |
| Savings and temporary cash investments | $283,175 |
| Pledges and grants receivable | $392,635 |
| Accounts receivable, net | $49,647 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,331 |
| Prepaid expenses and deferred charges | $24,677 |
| Net Land, buildings, and equipment | $34,555,016 |
| Investments—publicly traded securities | $1,947,401 |
| Investments—other securities | $2,657,332 |
| Investments—program-related | $1,067,607 |
| Intangible assets | $0 |
| Other assets | $58,000 |
| Total assets | $41,634,056 |
| Accounts payable and accrued expenses | $352,635 |
| Grants payable | $0 |
| Deferred revenue | $83,821 |
| 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 | $17,130,111 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $143,347 |
| Total liabilities | $17,709,914 |
| Net assets without donor restrictions | $17,781,346 |
| Net assets with donor restrictions | $6,142,796 |
| 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 | $41,634,056 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Welch College has recieved totaling $628,960.
| Awarding Organization | Amount |
|---|---|
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI PURPOSE: IMPLEMENT APDP | $326,000 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI PURPOSE: IMPLEMENT APDP | $163,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $100,000 |
Organization Name not Listed PURPOSE: CAPITAL NEEDS | | $20,000 |
Newberry Family Foundation Inc Havana, FL PURPOSE: EDUCATION | $10,000 |
Columbus Phipps Fdn Dallas, TX PURPOSE: GRANT FOR SCHOLARSHIPS | $8,000 |
Endowment Analysis
| Beg. Balance | $4,878,527 |
| Earnings | $184,801 |
| Net Contributions | $58,137 |
| Grants | $182,078 |
| Ending Balance | $4,939,387 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Guilford College Greensboro, NC | $214,106,962 | $54,557,208 |
Covenant College Inc Lookout Mountain, GA | $98,255,603 | $50,724,767 |
Barton College Wilson, NC | $97,394,035 | $47,073,555 |
Reinhardt University Waleska, GA | $120,947,179 | $50,634,912 |
Milligan University Milligan, TN | $122,087,054 | $57,184,968 |
Miles College Fairfield, AL | $95,783,028 | $49,621,884 |
Carson-Newman University Jefferson City, TN | $160,428,637 | $65,286,029 |
Tusculum University Greeneville, TN | $114,694,317 | $47,879,632 |
King University Bristol, TN | $69,555,277 | $42,931,439 |
Warren Wilson College Asheville, NC | $113,155,084 | $40,910,763 |
Shaw University Raleigh, NC | $72,503,111 | $66,988,324 |
Missouri Valley College Marshall, MO | $51,178,599 | $44,171,288 |