Grace Schools FY2023 filing

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Grace college and seminary strives to be an evangelical christian community of higher education.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$1.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $8.8M a year · 13% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.2M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $22.0M in investments, Pt X · Ln 11–13
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $28K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$30.7M
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$65.0M
+0.4% vs prior year
Spent
$61.4M
To programs
86%
Net assets
$55.2M
By yearFY2020–FY2025
Revenue
$65.0M
FY2023+0.4%
Tap a bar for its year
Revenue by fiscal year
FY2020$51.0M
FY2021$54.9M
FY2022$64.8M
FY2023$65.0M
FY2024$68.6M
FY2025$103.0M
Expenses
$61.4M
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$52.2M
FY2021$53.5M
FY2022$57.3M
FY2023$61.4M
FY2024$63.0M
FY2025$67.2M
Net assets
$55.2M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$40.1M
FY2021$44.8M
FY2022$51.4M
FY2023$55.2M
FY2024$62.7M
FY2025$98.4M

From the FY2023 Form 990 (year ending April 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1941.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $53.0M Management & general 12% · $7.4M Fundraising 2% · $1.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

31 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Senior Advisor
$261,544Pt VII · Sec A
President of Grace College
$201,682Pt VII · Sec A
VP Academic Affiars/Provost
$164,568Pt VII · Sec A
Dean of Online Education
$155,858Pt VII · Sec A
Professor Accounting & Finance
$136,421Pt VII · Sec A
Director Lcfls
$135,686Pt VII · Sec A
$134,816Pt VII · Sec A
Interm President
$44,286Pt VII · Sec A

Dr Andrew Flamm’s $274K as President of Grace College is at the 10th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Andrew Flamm$273,581$245,093—$168,396$148,902$158,901
Dr William Katip End 0122———$268,259——
Dr William Katip—$164,327$261,544—$210,284$238,215
Dr Andrew Flammstart 0622——$201,682———
Dr Kevin Roberts$176,168$172,261$164,568———
Dr Nathan Bosch$168,158$154,143$135,686$109,891——
Dr Tim Ziebarth$161,805$154,497$155,858$138,115$122,903$155,111
Mr Doug Baumgardner$155,378$140,343$134,816$130,214$56,969—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Grace Schools executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students in an evangelical Christian community.

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2 programs · $53.0M · in their own filed words · FY2022
01

Instructional programs located on a 180 acre campus with 2 satellite campuses serving approximately 2,000 undergraduate and graduate students in 100+ majors, minors, certificates and graduate programs. Grace offers a 3 year degree program with opportunity to earn a masters degree in the 4TH year.

$45.3Mprogram expense
02

Auxiliary programs offering residential housing and meals on 180 acre campus. Grace offers 18 varsity sports and a vibrant intramural and club sporting program. Grace has 15 primary student organizations and many academic clubs.

$7.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 3 funders$28K
See all 3 funders →
Grants paid · 6 grants · $114.2M · 2019–2024
Unitemized GrantFY2024$21,809,703
Unitemized GrantFY2023$20,983,191
Unitemized GrantFY2022$21,155,791
Unitemized GrantFY2021$18,441,804
Unitemized GrantFY2020$16,838,525
Unitemized GrantFY2019$14,923,316

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jul 2025 · $16.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$11.0M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.0M
Federal Perkins Loan Program_federal Capital ContributionsDepartment of Education · ALN 84.038 · Direct$1.0M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$162K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$161K

Plus 1 smaller program.

The auditor reported no findings.

Year ending Jul 2024 · $15.9M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$11.2M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$3.0M
Federal Perkins Loan Program_federal Capital ContributionsDepartment of Education · ALN 84.038 · Direct$1.3M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$179K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$161K

Plus 1 smaller program.

The auditor reported no findings.

Year ending Apr 2023 · $14.8M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$10.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.5M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.8M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$188K
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$154K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Apr 2022 · $19.4M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$8.9M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$5.4M
Federal Perkins LoanDepartment of Education · ALN 84.038 · Direct$2.6M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.2M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$180K

Plus 2 smaller programs.

The auditor reported no findings.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$65.0M
Ln 12
Fees for servicesLn 2g$55.9M
Gifts and grantsLn 1h$8.9M
Investment incomeLn 3$157K
Money outPt IX
$61.4M
Ln 25
Programscol B$53.0M
Managementcol C$7.4M
Fundraisingcol D$1.1M
Owns and owesPt X
$55.2M
net assets · Ln 32
Cash and savingsLn 1–2$8.6M
Total assetsLn 16$85.9M
LiabilitiesLn 26$30.7M
PeoplePt VI, VII
31
listed · VII A
PaidVII A8
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.9M
Noncash giftsLn 1g$3.2M
Fees for servicesLn 2g$55.9M
Investment incomeLn 3$157K
Gains on assetsLn 7−$27K
Total revenueLn 12$65.0M
Assets in detailPt X, end of year
CashLn 1$6K
SavingsLn 2$8.5M
Cash and savings togetherLn 1–2$8.6M
InvestmentsLn 11–13$22.0M
Land, buildings, equipmentLn 10c$50.4M
Other assetsLn 15$212K
Total assetsLn 16$85.9M
LiabilitiesLn 26$30.7M
Net assetsLn 32$55.2M
OperationsPt I, VI
EmployeesI 51,163
VolunteersI 6300
Fiscal year endsHeaderApril
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$14.6M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$20.9M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$3.2M
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$28.5M$25.4M$22.9M$19.0M$18.9M
Given inLn 1b$3.4M$3.2M$480K$578K$216K
SpentLn 1d–1f$814K$272K$205K$487K$1.3M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$6.1M$8.6M
InvestmentsLn 11–13$18.6M$22.0M
Land, buildings, equipmentLn 10c$51.7M$50.4M
Total assetsLn 16$83.2M$85.9M
LiabilitiesLn 26$31.8M$30.7M
Net assetsLn 32$51.4M$55.2M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$21.2M$21.2M
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$308K$247K$53K$8K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$14.0M$10.8M$2.7M$476K
Pension plan contributionsLn 8$556K$478K$67K$11K
Other employee benefitsLn 9$2.5M$1.8M$577K$101K
Payroll taxesLn 10$0
Management feesLn 11a$2.2M$2.2M
Legal feesLn 11b$15K$15K
Accounting feesLn 11c$73K$73K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$55K$55K
Investment management feesLn 11f$0
Other fees for servicesLn 11g$4.4M$3.8M$525K$88K
Advertising and promotionLn 12$247K$142K$105K
Office expensesLn 13$1.7M$1.3M$324K$74K
Information technologyLn 14$954K$507K$418K$29K
RoyaltiesLn 15$0
OccupancyLn 16$2.3M$1.4M$873K$3K
TravelLn 17$1.8M$1.6M$236K$43K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$73K$55K$17K$825
InterestLn 20$1.1M$967K$135K$22K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$2.8M$2.4M$340K$57K
InsuranceLn 23$316K$25K$291K
Other expenses (24a–d)Ln 24$4.9M$4.2M$594K$86K
Total functional expensesLn 25$61.4M$53.0M$7.4M$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jan 26, 2026 $103.0M$67.2M$35.8M$98.4M 990 PDF
FY2024Filed with the IRS Mar 5, 2025 $68.6M$63.0M$5.6M$62.7M 990 PDF
FY2023 ViewingFiled with the IRS Dec 18, 2023 $65.0M$61.4M$3.6M$55.2M 990 PDF
FY2022Filed with the IRS Dec 22, 2022 $64.8M$57.3M$7.5M$51.4M 990 PDF
FY2021Filed with the IRS Jan 12, 2022 $54.9M$53.5M$1.4M$44.8M 990 PDF
FY2020Filed with the IRS Jan 29, 2021 $51.0M$52.2M−$1.2M$40.1M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $65,010,659 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,840,043$8,948,926
I-9 Program service revenuePrior year $50,744,403$55,904,787
I-10 Investment incomePrior year $178,202$156,946
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $64,762,648$65,010,659
I-13 Grants and similar amounts paidPrior year $18,441,804$21,155,791
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $16,255,201$17,356,610
I-16a Professional fundraising feesPrior year $0$54,503
I-17 Other expensesPrior year $22,571,718$22,845,574
I-18 Total expensesPrior year $57,268,723$61,412,478
I-19 Revenue less expensesPrior year $7,493,925$3,598,181
Part VI · Governance 23 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $65,010,659 across 11 lines filed
VIII-1d Related organizations$8,287
VIII-1f All other contributions, gifts and grants$8,940,639
VIII-1g Noncash contributions (included above)$3,211,414
VIII-1h Total contributions, gifts and grants$8,948,926
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $55,904,787$55,904,787
VIII-3 Investment incomeExcluded from tax $184,248$184,248
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$27,302−$27,302
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $55,904,787 · Excluded from tax $156,946$65,010,659
Part IX · Statement of functional expenses $61,412,478 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $21,155,791$21,155,791
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $246,695 · Management $53,024 · Fundraising $8,158$307,877
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $10,797,757 · Management $2,724,026 · Fundraising $475,945$13,997,728
IX-8 Pension plan contributionsPrograms $478,482 · Management $66,765 · Fundraising $11,127$556,374
IX-9 Other employee benefitsPrograms $1,816,388 · Management $577,048 · Fundraising $101,195$2,494,631
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $2,169,054$2,169,054
IX-11b Legal feesManagement $15,043$15,043
IX-11c Accounting feesManagement $73,050$73,050
IX-11d Lobbying fees$0
IX-11e Professional fundraising feesFundraising $54,503$54,503
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $3,762,527 · Management $525,004 · Fundraising $87,501$4,375,032
IX-12 Advertising and promotionPrograms $142,283 · Management $105,046$247,329
IX-13 Office expensesPrograms $1,258,957 · Management $324,471 · Fundraising $74,362$1,657,790
IX-14 Information technologyPrograms $507,038 · Management $418,102 · Fundraising $29,360$954,500
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,399,932 · Management $872,825 · Fundraising $2,757$2,275,514
IX-17 TravelPrograms $1,558,321 · Management $236,445 · Fundraising $42,566$1,837,332
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $55,349 · Management $16,531 · Fundraising $825$72,705
IX-20 InterestPrograms $966,502 · Management $134,861 · Fundraising $22,477$1,123,840
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $2,438,865 · Management $340,307 · Fundraising $56,718$2,835,890
IX-23 InsurancePrograms $24,901 · Management $290,781$315,682
IX-24 Other expenses (24a–d)Programs $4,212,217 · Management $594,344 · Fundraising $86,252$4,892,813
IX-25 Total functional expensesPrograms $52,991,059 · Management $7,367,673 · Fundraising $1,053,746$61,412,478
Part X · Balance sheet $85,935,849 assets, 24 lines filed
Asset lines not itemized here account for $2,762,271; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,672$5,671
X-2 Savings and temporary cash investmentsStart of year $6,112,035$8,547,780
X-3 Pledges and grants receivableStart of year $841,789$738,500
X-4 Accounts receivableStart of year $1,963,457$622,019
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $541,269$677,114
X-10c Land, buildings and equipment, netStart of year $51,732,966$50,382,429
X-11 Publicly traded securitiesStart of year $18,640,786$21,987,897
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $231,851$212,168
X-16 Total assetsStart of year $83,215,559$85,935,849
X-17 Accounts payable and accrued expensesStart of year $4,811,195$4,776,123
X-18 Grants payableStart of year $678,310$1,005,191
X-19 Deferred revenueStart of year $45,417$141,784
X-20 Tax-exempt bond liabilitiesStart of year $15,438,973$14,585,316
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $379,533$275,313
X-26 Total liabilitiesStart of year $31,794,714$30,724,966
X-27 Net assets without donor restrictionsStart of year $19,886,187$18,509,342
X-28 Net assets with donor restrictionsStart of year $31,534,658$36,701,541
X-32 Total net assets or fund balancesStart of year $51,420,845$55,210,883
X-33 Total liabilities and net assetsStart of year $83,215,559$85,935,849
Part XI · Reconciliation of net assets $55,210,883 net assets at year end
XI-1 Total revenue$65,010,659
XI-2 Total expenses$61,412,478
XI-3 Revenue less expenses$3,598,181
XI-4 Net assets at start of year$51,420,845
XI-5 Net unrealized gains (losses) on investments$184,889
XI-9 Other changes in net assets$6,968
XI-10 Net assets at end of year$55,210,883

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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