Civic Intelligence

Grace University

990 • Fiscal year 2020 • EIN 47-0384159

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 13, 2020

Organization ProfileN/A

View Organization Page

4309 N 142nd StreetOmaha, NE 68164-5038

(402) 676-7617

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.12x

Higher debt load relative to assets than 53% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

9.29x

Higher debt load relative to revenue than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

1st percentile

-404%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

41st percentile

$19,925

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 42.2% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

3rd percentile

-28%

Faster asset growth than 3% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

3rd percentile

-74%

Faster revenue growth than 3% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Down

$3,680,521

Down $1,422,022 (-28%) from 2019

Net Assets

Down

$3,242,026

Down $590,653 (-15%) from 2019

Liabilities

Down

$438,495

Down $831,369 (-65%) from 2019

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin1st percentile

Revenue

Down

$47,219

Down $132,812 (-74%) from 2019

Expenses

Up

$237,892

Up $57,861 (+32%) from 2019

Net Income

Down

-$190,673

Down $190,673 from 2019

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2010: $16,468,323Liabilities 2010: $4,101,614Net Assets 2010: $12,366,7092010Assets 2011: $16,361,041Liabilities 2011: $3,961,966Net Assets 2011: $12,399,0752011Assets 2012: $16,723,405Liabilities 2012: $3,747,333Net Assets 2012: $12,976,0722012Assets 2013: $16,580,553Liabilities 2013: $4,638,559Net Assets 2013: $11,941,9942013Assets 2014: $15,757,612Liabilities 2014: $5,278,435Net Assets 2014: $10,479,1772014Assets 2015: $13,927,239Liabilities 2015: $5,648,537Net Assets 2015: $8,278,7022015Assets 2016: $11,838,922Liabilities 2016: $4,790,852Net Assets 2016: $7,048,0702016Assets 2017: $6,686,684Liabilities 2017: $1,244,440Net Assets 2017: $5,442,2442017Assets 2018: $4,373,093Liabilities 2018: $717,360Net Assets 2018: $3,655,7332018Assets 2019: $5,102,543Liabilities 2019: $1,269,864Net Assets 2019: $3,832,6792019Assets 2020: $3,680,521Liabilities 2020: $438,495Net Assets 2020: $3,242,0262020Assets 2021: $1,715,138Liabilities 2021: $0Net Assets 2021: $1,715,1382021

Highlighted filing

2020

Assets$3,680,521
Liabilities$438,495
Net Assets$3,242,026
Open 2020 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $9,054,8432010Expenses 2011: $9,475,9572011Expenses 2012: $9,687,4972012Revenue 2013: $9,040,882Expenses 2013: $10,233,402Net Income 2013: -$1,192,5202013Revenue 2014: $12,325,038Expenses 2014: $13,417,142Net Income 2014: -$1,092,1042014Revenue 2015: $11,380,324Expenses 2015: $13,473,545Net Income 2015: -$2,093,2212015Revenue 2016: $11,982,411Expenses 2016: $13,096,517Net Income 2016: -$1,114,1062016Revenue 2017: $7,424,125Expenses 2017: $9,035,363Net Income 2017: -$1,611,2382017Revenue 2018: $5,583,064Expenses 2018: $7,380,021Net Income 2018: -$1,796,9572018Revenue 2019: $180,031Expenses 2019: $180,031Net Income 2019: $02019Revenue 2020: $47,219Expenses 2020: $237,892Net Income 2020: -$190,6732020Revenue 2021: $14,095Expenses 2021: $1,540,983Net Income 2021: -$1,526,8882021

Highlighted filing

2020

Revenue$47,219
Expenses$237,892
Net Income-$190,673
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$47,219
Mission and Program Overview

Mission

Grace university exists to develop servant leaders for the home, the church, and the world through excellence in biblically-integrated education and through life change in a personal, discipling environment, all for the glory of god.

Grace university exists to develop leaders for the home, the church, and the world through excellence in biblically-integrated education and through life change in a personal, discipling environment, all for the glory of god.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,213,385$2,908,362▼ $305,023
Savings and Temporary Cash Investments$946,673$766,356▼ $180,317
Investments in Publicly Traded Securities$12,955$5,803▼ $7,152
Total Assets$5,102,543$3,680,521▼ $1,422,022
Other Assets Total$929,530$0▼ $929,530
Liabilities
Other Liabilities$1,055,864$423,463▼ $632,401
Unsecured Notes Loans Payable$214,000--
Accounts Payable and Accrued Expenses-$15,032-
Total Liabilities$1,269,864$438,495▼ $831,369
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,832,679$3,242,026▼ $590,653
Total Net Assets Fund Balance$3,832,679$3,242,026▼ $590,653
Total Liabilities and Net Assets / Fund Balance$5,102,543$3,680,521▼ $1,422,022

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,334,165$-2,334,165---
2017$2,692,680-▲ $153,534-$2,334,165
2016$2,580,744$2,000▲ $109,936-$2,692,680
2015$2,537,255-▲ $92,620-$2,580,744
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michael GodingCEOPT$19,925$19,925
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$46,546
Other Revenue
$673
Change in Net Assets
$-190,673
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$237,892
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance-$7,541-$7,541
Fees for Services Accounting-$5,300-$5,300
Other Expenses-$4,653-$4,653
Fees for Services Management-$3,285-$3,285
Fees for Services Legal-$1,991-$1,991
Office Expenses-$1,883-$1,883
All Other Expenses-$-150,356-$-150,356
Total Functional Expenses$0$237,892$0$237,892
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable$423,463
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization adopted a plan of dissolution effective april 2, 2019. As part of the plan of dissolution, certain of the prior board of trustees were designated as representatives to wind down the activities of the organization and to take all necessary and reasonable actions to effect the dissolution of the organization.”

Form 990, Part VI, Section A, Line 8B

“Grace university does not have any formal committees whereas the committee has the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“Grace university's form 990 is reviewed by the chief executive officer of the institution.”

Form 990, Part VI, Section B, Line 12

“Not applicable - the institution is closed and there is no board.”

Form 990, Part VI, Section C, Line 19

“Grace university does not make their governing documents, conflict of interest policy, or financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
Grace University
EIN
47-0384159
Phone
4026767617
Address
4309 N 142ND STREET, OMAHA, NE 68164-5038

Signing Officer

Name
Michael Goding
Title
CEO
Phone
4026767617
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Goding
Formed
1943
Legal Domicile
Ne
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Lutz and Company Pc
Address
13616 CALIFORNIA ST STE 300, OMAHA, NE 68154-5336
Preparer
Deyna C Rouse
Phone
4024968800
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“As part of the organization's plan of dissolution, funds that were previously considered endowed were no longer deemed to be endowed. Communication occurred with the donors that previously endowed those funds to obtain their consent to utilize the funds to settle the organization's wind down obligations and transfer any remaining funds to other colleges (all 501(c)(3) entities) with missions similar to that of the organization.”

Raw XML Appendix320 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum04026767617
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IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt07541
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IRS990/InvestmentIncomeGrp/ExclusionAmt046546
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IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt012955
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IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc0PENALTIES & STUDENT LOA
IRS990/OtherExpensesGrp/Desc1ANNUITY PAYABLE LIQUIDA
IRS990/OtherExpensesGrp/Desc2CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc3OTHER EXPENSES
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ANNUITIES PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AS PART OF THE ORGANIZATION'S PLAN OF DISSOLUTION, FUNDS THAT WERE PREVIOUSLY CONSIDERED ENDOWED WERE NO LONGER DEEMED TO BE ENDOWED. COMMUNICATION OCCURRED WITH THE DONORS THAT PREVIOUSLY ENDOWED THOSE FUNDS TO OBTAIN THEIR CONSENT TO UTILIZE THE FUNDS TO SETTLE THE ORGANIZATION'S WIND DOWN OBLIGATIONS AND TRANSFER ANY REMAINING FUNDS TO OTHER COLLEGES (ALL 501(C)(3) ENTITIES) WITH MISSIONS SIMILAR TO THAT OF THE ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt0423463
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd01
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0IT IS STATED IN THE CATALOGUE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE UNIVERSITY RECEIVED ASSISTANCE FROM VARIOUS U.S. DEPARTMENT OF EDUCATION PROGRAMS. THE UNIVERSITY HAS SINCE BEEN UNABLE TO CONTINUE OPERATIONS DUE TO FINANCIAL HARDSHIP.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ADOPTED A PLAN OF DISSOLUTION EFFECTIVE APRIL 2, 2019. AS PART OF THE PLAN OF DISSOLUTION, CERTAIN OF THE PRIOR BOARD OF TRUSTEES WERE DESIGNATED AS REPRESENTATIVES TO WIND DOWN THE ACTIVITIES OF THE ORGANIZATION AND TO TAKE ALL NECESSARY AND REASONABLE ACTIONS TO EFFECT THE DISSOLUTION OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GRACE UNIVERSITY DOES NOT HAVE ANY FORMAL COMMITTEES WHEREAS THE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GRACE UNIVERSITY'S FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER OF THE INSTITUTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NOT APPLICABLE - THE INSTITUTION IS CLOSED AND THERE IS NO BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GRACE UNIVERSITY DOES NOT MAKE THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,680,521
Liabilities
$438,495
Net assets
$3,242,026
Revenue
$47,219
Expenses
$237,892
Net income
-$190,673
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$1.72$0.00$1.72$0.01$1.54$1.53
2020Detailed filing. Detailed filing data is available for this year.$3.68$0.44$3.24$0.05$0.24$0.19
2019Detailed filing. Detailed filing data is available for this year.$5.10$1.27$3.83$0.18$0.18$0.00
2018Detailed filing. Detailed filing data is available for this year.$4.37$0.72$3.66$5.58$7.38$1.80
2017Detailed filing. Detailed filing data is available for this year.$6.69$1.24$5.44$7.42$9.04$1.61
2016Detailed filing. Detailed filing data is available for this year.$11.8$4.79$7.05$12.0$13.1$1.11
2015Detailed filing. Detailed filing data is available for this year.$13.9$5.65$8.28$11.4$13.5$2.09
2014Detailed filing. Detailed filing data is available for this year.$15.8$5.28$10.5$12.3$13.4$1.09
2013Summary only. Only limited summary data is available for this year.$16.6$4.64$11.9$9.04$10.2$1.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$3.75$13.0$9.69
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.4$3.96$12.4$9.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.5$4.10$12.4$9.05