Civic Intelligence

Welch College

990 • Fiscal year 2016 • EIN 62-0481463

Jun 01, 2015 to May 31, 2016 • Filed on Apr 12, 2017

PO Box 479 1045 Bison TrailGallatin, TN 37066

(615) 844-5000

Siviq Scores

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

Liabilities / Assets

37th percentile

0.12x

Higher debt load relative to assets than 37% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

36th percentile

0.14x

Higher debt load relative to revenue than 36% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

94th percentile

64%

Higher net margin than 94% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

18th percentile

$84,358

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

96th percentile

73%

Faster asset growth than 96% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

97th percentile

179%

Faster revenue growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$23,052,886

Up $9,716,667 (+73%) from 2015

Net Assets

Up

$20,325,061

Up $12,941,328 (+175%) from 2015

Liabilities

Down

$2,727,825

Down $3,224,661 (-54%) from 2015

Revenue

Up

$19,442,138

Up $12,484,989 (+179%) from 2015

Expenses

Up

$7,050,263

Up $351,569 (+5.2%) from 2015

Net Income

Up

$12,391,875

Up $12,133,420 (+4695%) from 2015

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $12,934,731Liabilities 2010: $5,432,104Net Assets 2010: $7,502,6272010Assets 2011: $13,222,063Liabilities 2011: $6,054,992Net Assets 2011: $7,167,0712011Assets 2012: $13,829,336Liabilities 2012: $6,705,533Net Assets 2012: $7,123,8032012Assets 2013: $12,755,966Liabilities 2013: $5,638,160Net Assets 2013: $7,117,8062013Assets 2014: $12,789,946Liabilities 2014: $5,669,711Net Assets 2014: $7,120,2352014Assets 2015: $13,336,219Liabilities 2015: $5,952,486Net Assets 2015: $7,383,7332015Assets 2016: $23,052,886Liabilities 2016: $2,727,825Net Assets 2016: $20,325,0612016Assets 2017: $35,747,178Liabilities 2017: $14,982,553Net Assets 2017: $20,764,6252017Assets 2018: $40,560,195Liabilities 2018: $18,449,928Net Assets 2018: $22,110,2672018Assets 2019: $39,628,221Liabilities 2019: $17,659,581Net Assets 2019: $21,968,6402019Assets 2020: $39,743,438Liabilities 2020: $18,423,213Net Assets 2020: $21,320,2252020Assets 2021: $40,121,490Liabilities 2021: $17,549,119Net Assets 2021: $22,572,3712021Assets 2022: $41,634,056Liabilities 2022: $17,709,914Net Assets 2022: $23,924,1422022Assets 2023: $39,288,183Liabilities 2023: $18,211,454Net Assets 2023: $21,076,7292023Assets 2024: $40,318,191Liabilities 2024: $18,525,742Net Assets 2024: $21,792,4492024

Highlighted filing

2016

Assets$23,052,886
Liabilities$2,727,825
Net Assets$20,325,061

Operations Trend

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

$20M$10M$0-$10MExpenses 2010: $5,890,9262010Expenses 2011: $5,831,1802011Expenses 2012: $6,188,3372012Revenue 2013: $6,677,333Expenses 2013: $5,916,718Net Income 2013: $760,6152013Revenue 2014: $6,435,205Expenses 2014: $6,579,626Net Income 2014: -$144,4212014Revenue 2015: $6,957,149Expenses 2015: $6,698,694Net Income 2015: $258,4552015Revenue 2016: $19,442,138Expenses 2016: $7,050,263Net Income 2016: $12,391,8752016Revenue 2017: $7,899,343Expenses 2017: $7,684,022Net Income 2017: $215,3212017Revenue 2018: $10,586,174Expenses 2018: $9,329,921Net Income 2018: $1,256,2532018Revenue 2019: $10,121,935Expenses 2019: $10,125,199Net Income 2019: -$3,2642019Revenue 2020: $9,056,133Expenses 2020: $9,861,960Net Income 2020: -$805,8272020Revenue 2021: $10,496,744Expenses 2021: $9,422,990Net Income 2021: $1,073,7542021Revenue 2022: $11,542,139Expenses 2022: $10,173,970Net Income 2022: $1,368,1692022Revenue 2023: $7,976,509Expenses 2023: $10,398,858Net Income 2023: -$2,422,3492023Revenue 2024: $10,593,286Expenses 2024: $9,940,128Net Income 2024: $653,1582024

Highlighted filing

2016

Revenue$19,442,138
Expenses$7,050,263
Net Income$12,391,875
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Apr 12, 2017
Return Version
2015v3.0
Gross Receipts
$19,442,138
Mission and Program Overview

Mission

Welch college is a christian higher education institution that educates leaders to serve christ, his church, and his world through biblical thought and life

Welch college is a christian higher education institution that educates leaders to serve christ, his church, and his world through biblical thought and life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,858,039$12,203,652▲ $2,345,613
Savings and Temporary Cash Investments$1,577,297$8,094,724▲ $6,517,427
Investments Other Securities$1,554,163$1,514,493▼ $39,670
Pledges and Grants Receivable$239,317$109,493▼ $129,824
Accounts Receivable$59,124$40,525▼ $18,599
Other Notes and Loans Receivable, Net$46,879$11,172▼ $35,707
Prepaid Expenses and Deferred Charges$1,400$2,594▲ $1,194
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$13,336,219$23,052,886▲ $9,716,667
Other Assets Total$0$1,076,233▲ $1,076,233
Liabilities
Accounts Payable and Accrued Expenses$162,258$2,060,623▲ $1,898,365
Mortgage Notes Payable Secured by Investment Property$4,546,396$331,221▼ $4,215,175
Other Liabilities$986,458$153,969▼ $832,489
Unsecured Notes Loans Payable$127,265$125,278▼ $1,987
Deferred Revenue$130,109$56,734▼ $73,375
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,952,486$2,727,825▼ $3,224,661
Net Assets / Fund Balance
Unrestricted Net Assets$4,776,115$11,105,462▲ $6,329,347
Temporarily Rstr Net Assets$806,223$6,724,976▲ $5,918,753
Permanently Rstr Net Assets$1,801,395$2,494,623▲ $693,228
Total Net Assets Fund Balance$7,383,733$20,325,061▲ $12,941,328
Total Liabilities and Net Assets / Fund Balance$13,336,219$23,052,886▲ $9,716,667

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,180,973$315,283$4,496,256
Other Land Buildings$3,882,904-$3,882,904
Land$3,465,000-$3,435,000
Equipment$674,775$2,621,511$3,296,286
Other Securities$1,514,493--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$1,648,773$707,084▼ $102,387$-12,580$2,167,387
2014$1,599,585$58,043▲ $58,189$13,239$1,648,773
2013$1,468,170$51,861▲ $144,616$13,239$1,599,585
2012$1,369,010$29,917▲ $132,797$13,239$1,468,170
2011$1,344,698$155,479▼ $77,224$8,001$1,369,010
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
J Matthew PinsonPresidentFT$71,734$12,624$84,358
David WillifordVP-institutional AdvancementFT$55,772$8,731$64,503
Craig MahlerVP-financial AffairsFT$51,806$4,151$55,957
Greg KettemanProvostFT$54,260-$54,260
Jon ForlinesVP-student Services/deanFT$42,737$4,151$46,888
Gary FryVP-church RelationsFT$37,959$5,050$43,009

Board Members and Trustees

NameTitle
Terry PierceChairman
Ken SimpsonVice-chairman
Billy HannaBoard of Trustees
Eddie MoodyBoard of Trustees
Jeff CrabtreeBoard of Trustees
Mike ArmstrongBoard of Trustees
Shiloh HackettBoard of Trustees
Will BeauchampBoard of Trustees
Mark StriplingSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$7,933,064
Program Service Revenue
$5,074,642
Investment Income
$6,434,432
Other Revenue
$0
All Other Contributions
$7,933,064
Change in Net Assets
$12,391,875

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,189,839
Revenue Not Reported on Financial Statements
$1,252,299
Revenue Not Reported on Form 990
$-35,107
Other Revenue Adjustments
$1,252,299
Total Revenue per Audited Statements
$18,154,732
Total Revenue per Form 990
$19,442,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,923,198
Salaries, Compensation, and Employee Benefits$2,874,766
Grants and Similar Amounts Paid$1,252,299
Total Fundraising Expense$497,200
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,303,572$501,374$200,549$2,005,495
Grants to Domestic Individuals$1,252,299--$1,252,299
Occupancy$565,510$217,504$87,002$870,016
Other Employee Benefits$338,192$130,074$52,030$520,296
Office Expenses$274,632$105,628$42,251$422,511
Current Officers, Directors, Trustees, and Key Employees$226,834$87,244$34,897$348,975
Travel$131,823$50,701$20,280$202,804
Other Expenses$183,073--$183,073
All Other Expenses$116,213$44,697$17,879$178,789
Fees for Services Other-$147,945-$147,945
Advertising$94,676$36,414$14,566$145,656
Depreciation Depletion$88,772$34,143$13,657$136,572
Insurance$47,312$18,197$7,279$72,788
Information Technology$32,072$12,336$4,934$49,342
Interest$12,197$4,691$1,876$18,764
Conferences and Meetings-$7,760-$7,760
Total Functional Expenses$5,154,355$1,398,708$497,200$7,050,263

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,050,263
Total Expenses per Audited Statements$5,902,314
Expenses per Audited Statements$5,797,964
Expenses Not Reported on Financial Statements$1,252,299
Other Expense Adjustments$1,252,299
Expenses Not Reported on Form 990$104,350
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Student Deposits and Agency Funds$153,969
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 review the form 990 is prepared by an outside public accounting firm. The return is reviewed in detail by the vp for financial affairs and the president of the college. The draft is emailed to members of the board of trustees for their review and approval prior to filing the return with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Conflict of interest monitoring all board members are required to annually disclose certain financial interests and fiduciary relationships. Responses are reviewed to determine if further investigation is necessary and to determine if a conflict exists with respect to a certain transaction. If a conflict exists, the transaction is not to be entered into unless alternatives are fully investigated, and in their absence, the board, without the participation of the interested member(s), determines that the transaction is in the best interest of the organization. Plans to manage the conflict during the relationship are implemented. All discussions are appropriately documented. All other employees are required to disclose any circumstances, including family and business relationships, which may create a conflict of interest for the organization.

Form 990, Part VI, Section B, Line 15A & 15B

Compensation approval process in determining compensation of the organization's officers and key employees, the annual process performed by welch college included: a compensation survey or study and approval by the board of trustees. Additionally, all discussions and decisions are contemporaneously documented.

Form 990, Part VI, Section C, Line 19

Documents upon written request the college makes it governing documents, conflict of interest policy, and financial statements available. The college's financial statements are published for the denomination at large and presented annually to the free will baptist convention. Form 990 is also available on the guidestar website.

Filing and Contact Details

Filer

Filer Name
Welch College
EIN
62-0481463
In Care Of
% CRAIG MAHLER
Phone
6158445000
Address
PO BOX 479 1045 BISON TRAIL, GALLATIN, TN 37066

Signing Officer

Name
Craig Mahler
Title
VP-financial Affairs
Phone
6158445000
Signed
2017-04-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Matthew Pinson
Formed
1945
Legal Domicile
Tn
Voting Board Members
9
Independent Board Members
9
Employees
243

Preparer

Firm
Bkd Llp
Address
312 WALNUT STREET SUITE 3000, CINCINNATI, OH 45202
Preparer
Aaron Hershberger
Phone
5136218300
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other changes in fund balance prior year / unbudgeted amounts: $104,350

Financial Statement Notes

Schedule D, Part V, Line 4

Endowment use endowments consist of numerous individual funds established to benefit unrestricted operations and to provide scholarships to eligble students who meet individual donor requirements. All endowments are donor restricted, with no board designated (quasi) funds.

Schedule D, Part X, Line 2

Income taxes the college is exempt from income taxes under section 501(c)(3) of the internal revenue code and a similar provision of state law. However, the college is subject to federal income tax on any unrelated business taxable income.

Schedule D, Part XI, Line 4B

Other revenue items netted to revenue in the audited financial statements per gaap consist of scholarships and other allowances against student fees amounting to $1,252,299.

Schedule D, Part XII, Line 4B

Other expenses items netted to expenses in the audited financial statements per gaap consist of scholarships and other allowances against student fees amounting to $1,252,299.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD OF TRUSTEES
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IRS990/Form990PartVIISectionAGrp/TitleTxt11PROVOST
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP-STUDENT SERVICES/DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP-INSTITUTIONAL ADVANCEMENT
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IRS990/OtherExpensesGrp/Desc1ONLINE & LIFETIME LEARNING FEE
IRS990/OtherExpensesGrp/Desc2ATHLETICS
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IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$40.3$18.5$21.8$10.6$9.94$0.65
2023Detailed filing. Detailed filing data is available for this year.$39.3$18.2$21.1$7.98$10.4$2.42
2022Detailed filing. Detailed filing data is available for this year.$41.6$17.7$23.9$11.5$10.2$1.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.1$17.5$22.6$10.5$9.42$1.07
2020Detailed filing. Detailed filing data is available for this year.$39.7$18.4$21.3$9.06$9.86$0.81
2019Detailed filing. Detailed filing data is available for this year.$39.6$17.7$22.0$10.1$10.1$0.00
2018Detailed filing. Detailed filing data is available for this year.$40.6$18.4$22.1$10.6$9.33$1.26
2017Detailed filing. Detailed filing data is available for this year.$35.7$15.0$20.8$7.90$7.68$0.22
2016Detailed filing. Detailed filing data is available for this year.$23.1$2.73$20.3$19.4$7.05$12.4
2015Detailed filing. Detailed filing data is available for this year.$13.3$5.95$7.38$6.96$6.70$0.26
2014Detailed filing. Detailed filing data is available for this year.$12.8$5.67$7.12$6.44$6.58$0.14
2013Summary only. Only limited summary data is available for this year.$12.8$5.64$7.12$6.68$5.92$0.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$6.71$7.12$6.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$6.05$7.17$5.83
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.9$5.43$7.50$5.89