George Stone Adventist School FY2023 filing

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To offer a college experience including education, housing, and associated programs in lincoln, ne

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$579K 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
4 of 6
filings with a surplus
Average surplus $3.6M a year · 10% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$579K
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
<1 mo
of spending, in cash
Plus $18.3M in investments, Pt X · Ln 11–13
Fine: 0.8 months of spending in cash, plus $18.3M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $3.4M
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$8.4M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 31 voting members
Looks good: 30 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27.6M
-23% vs prior year
Spent
$29.6M
To programs
81%
Net assets
$55.7M
By yearFY2020–FY2025
Revenue
$27.6M
FY2023▼ -23%
Tap a bar for its year
Revenue by fiscal year
FY2020$32.5M
FY2021$31.5M
FY2022$35.9M
FY2023$27.6M
FY2024$28.0M
FY2025$56.6M
Expenses
$29.6M
FY2023▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$31.0M
FY2021$30.5M
FY2022$32.5M
FY2023$29.6M
FY2024$31.6M
FY2025$35.3M
Net assets
$55.7M
FY2023▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$53.9M
FY2021$56.6M
FY2022$57.9M
FY2023$55.7M
FY2024$52.8M
FY2025$74.3M

From the FY2023 Form 990 (year ending May 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 Apr 1947.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $23.9M Management & general 17% · $5.2M Fundraising 2% · $537K

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

35 people listed on the 990; $579K 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
$140,026Pt VII · Sec A
President/Secretary
$128,255Pt VII · Sec A
$108,748Pt VII · Sec A
VP for Financial Admin
$101,653Pt VII · Sec A
PA Faculty
$100,811Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Megan Heidtbrink’s $148K as PA Program Director is at the 14th percentile of top reported officer pay among 3683 $10–100M 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
Megan Heidtbrink$147,873$144,453$140,026$134,780$125,581$151,267
Emily Rumery————$138,315—
Vinita Sauder$75,068$132,289$128,255$93,152$86,338$89,732
Michelle Petersen$113,072$112,446————
Michelle Peterson——$108,748$107,172$105,491$108,695
Austin Young$107,356$105,255$100,811———
Steven Trana$107,352—————
Debra Eno$106,172—————

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 George Stone Adventist School 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides a college experience with education and housing in Lincoln, NE.

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3 programs · $23.9M · in their own filed words · FY2022
01

Instructional & Public Service

Union college provides an exceptional liberal arts education with 669 undergraduate students and 88 master's level students. The 10 to 1 student teacher ratio allows for excellent STUDENT/TEACHER interaction.

$12.7Mprogram expense
02

Academic Support & Student Services

Academic support includes the library, academic administration, institutional research, and academic institutional technology. Student services supports students through counseling, records office, admissions and other student support.

$6.3Mprogram expense
03

Auxiliary Services

Auxiliary services at union college exist to furnish goods or services to students, faculty, staff, institutional departments and the public. The most prominent of these services provide support to our students and include residence halls, bookstore, and campus housing.

$5.0Mprogram 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 · FY2024
See all 8 funders →
Grants paid · 9 grants · $33.5M · 2019–2024
Unitemized GrantFY2024$5,488,823
Unitemized GrantFY2023$4,529,043
Unitemized GrantFY2022$4,901,040
Unitemized GrantFY2021$5,981,290
Unitemized GrantFY2021$1,095,399
Unitemized GrantFY2020$5,545,319
Unitemized GrantFY2020$562,938
Unitemized GrantFY2019$5,169,116
Unitemized GrantFY2019$183,180

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending May 2024 · $8.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$6.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$981K
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$803K
Nursing Student LoansDepartment of Health and Human Services · ALN 93.364 · Direct$248K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$145K

Plus 1 smaller program.

The auditor reported 6 findings: a material weakness in money controls.

Year ending May 2023 · $9.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$6.4M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.1M
Federal Perkins Loan Program - Beginning BalanceDepartment of Education · ALN 84.038 · Direct$909K
Nursing Student LoansDepartment of Health and Human Services · ALN 93.364 · Direct$263K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$145K

Plus 1 smaller program.

The auditor reported 3 findings: a material weakness in money controls, questioned costs.

Year ending May 2022 · $11.8M federal money spent
Federal Direct Loan ProgramDepartment of Education · ALN 84.268 · Direct$6.9M
Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.1M
Heerf Institutional PortionDepartment of Education · ALN 84.425F · Direct$1.1M
Federal Perkins Loan Program - Beginning BalanceDepartment of Education · ALN 84.038 · Direct$1.1M
Heerf Student Aid PortionDepartment of Education · ALN 84.425E · Direct$1.1M

Plus 4 smaller programs.

The auditor reported 12 findings: a weakness in money controls.

Year ending May 2021 · $11.9M federal money spent
Federal Direct Loan ProgramDepartment of Education · ALN 84.268 · Direct$7.8M
Heerf Institutional PortionDepartment of Education · ALN 84.425 · Direct$1.4M
Federal Perkins Loan Program - Beginning BalanceDepartment of Education · ALN 84.038 · Direct$1.3M
Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.2M
Federal Work Study ProgramDepartment of Education · ALN 84.033 · Direct$145K

Plus 1 smaller program.

The auditor reported 10 findings: a weakness in money controls.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$27.6M
Ln 12
Fees for servicesLn 2g$19.3M
Gifts and grantsLn 1h$7.4M
Other incomeLn 4–11$609K
Money outPt IX
$29.6M
Ln 25
Programscol B$23.9M
Managementcol C$5.2M
Fundraisingcol D$537K
Owns and owesPt X
$55.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$64.1M
LiabilitiesLn 26$8.4M
PeoplePt VI, VII
35
listed · VII A
PaidVII A5
Voting boardVI 1a31
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.4M
Government grantsLn 1e$653K
Noncash giftsLn 1g$320K
Fees for servicesLn 2g$19.3M
Investment incomeLn 3$340K
Other incomeLn 4–11$609K
Gains on assetsLn 7−$222K
Total revenueLn 12$27.6M
Assets in detailPt X, end of year
SavingsLn 2$2.0M
Cash and savings togetherLn 1–2$2.0M
Pledges and grants receivableLn 3$2.8M
Accounts receivableLn 4$1.7M
Inventories for sale or useLn 8$120K
Prepaid expenses and deferred chargesLn 9$397K
Land, buildings, equipmentLn 10c$38.8M
InvestmentsLn 11–13$18.3M
Total assetsLn 16$64.1M
LiabilitiesLn 26$8.4M
Net assetsLn 32$55.7M
OperationsPt I, VI
EmployeesI 51,023
VolunteersI 635
Fiscal year endsHeaderMay
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$1.2M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$5.5M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$320K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$90K
Share of the $14.3M endowmentSch D 1g0.62%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$14.3M$14.0M$14.4M$10.0M$10.0M
Given inLn 1b$1.4M$676K$1.3M$1.8M$1.1M
SpentLn 1d–1f$1.2M$978K$866K$697K$690K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$8.9M$2.0M
InvestmentsLn 11–13$17.9M$18.3M
Land, buildings, equipmentLn 10c$33.1M$38.8M
Total assetsLn 16$65.6M$64.1M
LiabilitiesLn 26$7.7M$8.4M
Net assetsLn 32$57.9M$55.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$4.9M$4.9M
Pay of current officers, directors and key staffLn 5$258K$229K$29K
Other salaries and wagesLn 7$6.8M$6.2M$421K$163K
Pension plan contributionsLn 8$1.7M$1.4M$215K$44K
Other employee benefitsLn 9$6.5M$5.2M$1.1M$180K
Payroll taxesLn 10$953K$728K$202K$24K
Legal feesLn 11b$30K$30K
Accounting feesLn 11c$102K$102K
Investment management feesLn 11f$90K$90K
Other fees for servicesLn 11g$1.3M$1.2M$118K$15K
Advertising and promotionLn 12$218K$153K$63K$2K
Office expensesLn 13$2.4M$1.9M$399K$33K
Information technologyLn 14$149K$112K$16K$21K
OccupancyLn 16$1.1M$1.1M$10K$2K
TravelLn 17$527K$425K$81K$22K
Conferences, conventions and meetingsLn 19$104K$88K$15K$2K
InterestLn 20$185K$71K$114K
Depreciation, depletion and amortizationLn 22$1.4M$220K$1.2M
InsuranceLn 23$900K$220K$680K
Other expenses (24a–d)Ln 24$76K$76K
Total functional expensesLn 25$29.6M$23.9M$5.2M$537K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 6, 2026 $56.6M$35.3M$21.3M$74.3M 990 PDF
FY2024Filed with the IRS Feb 28, 2025 $28.0M$31.6M−$3.6M$52.8M 990 PDF
FY2023 ViewingFiled with the IRS Mar 4, 2024 $27.6M$29.6M−$2.0M$55.7M 990 PDF
FY2022Filed with the IRS Apr 17, 2023 $35.9M$32.5M$3.4M$57.9M 990 PDF
FY2021Filed with the IRS Apr 18, 2022 $31.5M$30.5M$1.0M$56.6M 990 PDF
FY2020Filed with the IRS Apr 15, 2021 $32.5M$31.0M$1.5M$53.9M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $27,571,257 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,510,627$7,357,356
I-9 Program service revenuePrior year $21,917,760$19,264,919
I-10 Investment incomePrior year $1,782,994$339,565
I-11 Other revenuePrior year $694,273$609,417
I-12 Total revenuePrior year $35,905,654$27,571,257
I-13 Grants and similar amounts paidPrior year $7,076,689$4,901,040
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $16,057,559$16,166,111
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,325,403$8,542,654
I-18 Total expensesPrior year $32,459,651$29,609,805
I-19 Revenue less expensesPrior year $3,446,003−$2,038,548
Part VI · Governance 30 of 31 board members independent, 1 to look at
VI-1a Voting members of the governing body31
VI-1b Independent voting members30
VI-2 Family or business relationship among officers or directorsYes
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 $27,571,257 across 10 lines filed
Lines not itemized here account for $446,057 of total revenue; see the IRS return.
VIII-1d Related organizations$2,704,376
VIII-1e Government grants$652,535
VIII-1f All other contributions, gifts and grants$4,000,445
VIII-1g Noncash contributions (included above)$320,099
VIII-1h Total contributions, gifts and grants$7,357,356
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $19,212,710 · Unrelated business $52,209$19,264,919
VIII-3 Investment incomeExcluded from tax $561,440$561,440
VIII-6 Net rental income or lossUnrelated business $163,360$163,360
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$221,875−$221,875
VIII-12 Total revenueRelated to mission $19,212,710 · Unrelated business $215,569 · Excluded from tax $785,622$27,571,257
Part IX · Statement of functional expenses $29,609,805 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $4,901,040$4,901,040
IX-5 Pay of current officers, directors and key staffManagement $228,983 · Fundraising $28,911$257,894
IX-7 Other salaries and wagesPrograms $6,213,695 · Management $420,725 · Fundraising $162,622$6,797,042
IX-8 Pension plan contributionsPrograms $1,421,998 · Management $214,542 · Fundraising $44,182$1,680,722
IX-9 Other employee benefitsPrograms $5,167,986 · Management $1,129,302 · Fundraising $180,272$6,477,560
IX-10 Payroll taxesPrograms $727,529 · Management $201,727 · Fundraising $23,637$952,893
IX-11b Legal feesManagement $30,219$30,219
IX-11c Accounting feesManagement $101,711$101,711
IX-11f Investment management feesManagement $89,539$89,539
IX-11g Other fees for servicesPrograms $1,205,054 · Management $118,117 · Fundraising $15,455$1,338,626
IX-12 Advertising and promotionPrograms $152,713 · Management $63,173 · Fundraising $2,006$217,892
IX-13 Office expensesPrograms $1,926,388 · Management $398,829 · Fundraising $32,925$2,358,142
IX-14 Information technologyPrograms $111,863 · Management $16,269 · Fundraising $21,060$149,192
IX-16 OccupancyPrograms $1,065,066 · Management $9,836 · Fundraising $2,460$1,077,362
IX-17 TravelPrograms $425,220 · Management $80,514 · Fundraising $21,633$527,367
IX-19 Conferences, conventions and meetingsPrograms $87,564 · Management $14,587 · Fundraising $2,110$104,261
IX-20 InterestPrograms $70,869 · Management $114,486$185,355
IX-22 Depreciation, depletion and amortizationPrograms $219,924 · Management $1,167,213$1,387,137
IX-23 InsurancePrograms $220,137 · Management $679,763$899,900
IX-24 Other expenses (24a–d)Management $75,951$75,951
IX-25 Total functional expensesPrograms $23,917,046 · Management $5,155,486 · Fundraising $537,273$29,609,805
Part X · Balance sheet $64,077,340 assets, 21 lines filed
X-2 Savings and temporary cash investmentsStart of year $8,942,488$2,049,725
X-3 Pledges and grants receivableStart of year $3,541,452$2,793,117
X-4 Accounts receivableStart of year $1,857,782$1,661,604
X-8 Inventories for sale or useStart of year $112,671$120,071
X-9 Prepaid expenses and deferred chargesStart of year $165,021$396,711
X-10c Land, buildings and equipment, netStart of year $33,104,386$38,786,722
X-11 Publicly traded securitiesStart of year $16,033,903$16,483,184
X-13 Program-related investmentsStart of year $1,876,696$1,786,206
X-16 Total assetsStart of year $65,634,399$64,077,340
X-17 Accounts payable and accrued expensesStart of year $2,611,642$3,313,027
X-18 Grants payableStart of year $850,002$604,235
X-19 Deferred revenueStart of year $441,195$658,954
X-20 Tax-exempt bond liabilitiesStart of year $1,224,972$1,207,433
X-21 Escrow or custodial accountsStart of year $467,664$498,762
X-23 Secured mortgages and notes payableStart of year $1,016,370$984,286
X-25 Other liabilitiesStart of year $1,088,193$1,146,133
X-26 Total liabilitiesStart of year $7,700,038$8,412,830
X-27 Net assets without donor restrictionsStart of year $33,911,698$30,129,927
X-28 Net assets with donor restrictionsStart of year $24,022,663$25,534,583
X-32 Total net assets or fund balancesStart of year $57,934,361$55,664,510
X-33 Total liabilities and net assetsStart of year $65,634,399$64,077,340
Part XI · Reconciliation of net assets $55,664,510 net assets at year end
XI-1 Total revenue$27,571,257
XI-2 Total expenses$29,609,805
XI-3 Revenue less expenses−$2,038,548
XI-4 Net assets at start of year$57,934,361
XI-5 Net unrealized gains (losses) on investments−$247,227
XI-9 Other changes in net assets$15,924
XI-10 Net assets at end of year$55,664,510

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

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