Biola University INC FY2021 filing

Tax-deductible

La Mirada, CA501(c)(3)Since 1908Colleges & UniversitiesEIN 95-0549600

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Biola University is a private christian University located in southern california. For over 116 years, Biola has stood out as an institution grounded on biblically centered education, intentional spiritual development, and career preparation, (see sch o)where all faculty, staff and students are professing christians. With more than 145 academic programs through its six schools, Biola offers degrees ranging from bachelor of arts to doctoral degree.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$3.7M 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

FY2021 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $5.5M a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.7M
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
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $98K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$147.3M
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 27 voting members
Looks good: 22 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$217.2M
-17% vs prior year
Spent
$225.4M
To programs
83%
Net assets
$348.1M
By yearFY2020–FY2024
Revenue
$217.2M
FY2021▼ -17%
Revenue by fiscal year
FY2020$260.7M
FY2021$217.2M
FY2022$249.4M
FY2023$223.7M
FY2024$250.2M
FY2024$257.5M
Expenses
$225.4M
FY2021▼ -1%
Expenses by fiscal year
FY2020$227.7M
FY2021$225.4M
FY2022$242.7M
FY2023$236.1M
FY2024$241.8M
FY2024$242.4M
Net assets
$348.1M
FY2021▲ +10%
Net assets by fiscal year
FY2020$317.4M
FY2021$348.1M
FY2022$323.2M
FY2023$320.8M
FY2024$375.1M
FY2024$401.9M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1946.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $186.2M Management & general 16% · $36.3M Fundraising 1% · $2.9M

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

41 people listed on the 990; $3.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$580,691Pt VII · Sec A
Dean, Cinema & Media Arts
$296,785Pt VII · Sec A
Secretary/EVP, Univ Ops & Finance
$293,588Pt VII · Sec A
Provost and Senior Vice President
$264,587Pt VII · Sec A
Chief Advancement Officer
$263,453Pt VII · Sec A
General Counsel
$236,965Pt VII · Sec A
Provost, Academic Affairs
$226,744Pt VII · Sec A
Director, Center for Marriage
$220,363Pt VII · Sec A

Barry Corey’s $607K as President is at the 52nd 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Barry Corey$607,094$643,382$584,175$562,889$580,691$598,030
Thomas Halleen$349,620$348,995$344,566$328,812$296,785—
Michael Pierce—$345,283————
Michael Pierce Former$336,941—————
Matthew Hall$332,901$326,939$292,163———
Michael a Pierce——$316,107$297,627$293,588$291,509
David Shynn—$280,630$176,930———
Deborah Taylor Former Provost——$280,489———

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 Biola University INC executive salaries →

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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
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Provides biblically-centered higher education, academic scholarship, and community service, supported by comprehensive on-campus residential, dining, and auxiliary services.

Provided by the organization

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3 programs · $120.5M · in their own filed words · FY2020
01

School of Arts & SciencesThe School of Arts & Sciences consists of four schools: School of Cinema & Media Arts; School of Fine Arts & Communication; School of Humanities & Social Sciences; and School of Science, Technology, and Health.The School of Cinema & Media Arts focuses on equipping students to serve as an observer, interpreter…

$66.2Mprogram expense
02

Talbot School of TheologyThe mission of Talbot School of Theology is the development of disciples of Jesus Christ whose thought processes, character, and lifestyles reflect those of our Lord, and who are dedicated to disciple making throughout the world.

$33.4Mprogram expense
03

Student ServicesStudent Services includes Student Development and Intercollegiate Athletics. This includes a variety of student support, such as student communications, Title IX administration, student engagement and wellness, housing personnel, career development, academic advising, and the counseling center for students.

$21.0Mprogram 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 · FY2025
Total grants receivedfrom 5 funders$98K
See all 5 funders →
Grants paid · 6 grants · $434.4M · 2019–2024
Unitemized GrantFY2024$79,353,893
Unitemized GrantFY2023$74,402,983
Unitemized GrantFY2022$70,073,071
Unitemized GrantFY2021$67,617,341
Unitemized GrantFY2020$77,133,494
Unitemized GrantFY2019$65,844,714

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$217.2M
Ln 12
Fees for servicesLn 2g$176.0M
Gifts and grantsLn 1h$32.0M
Investment incomeLn 3$8.5M
Money outPt IX
$225.4M
Ln 25
Programscol B$186.2M
Managementcol C$36.3M
Fundraisingcol D$2.9M
Owns and owesPt X
$348.1M
net assets · Ln 32
Cash and savingsLn 1–2$15.9M
Total assetsLn 16$495.4M
LiabilitiesLn 26$147.3M
PeoplePt VI, VII
41
listed · VII A
PaidVII A20
Voting boardVI 1a27
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$32.0M
Government grantsLn 1e$14.0M
Noncash giftsLn 1g$439K
Fees for servicesLn 2g$176.0M
Investment incomeLn 3$8.5M
Other incomeLn 4–11$565K
Gains on assetsLn 7$5.8M
Total revenueLn 12$217.2M
Assets in detailPt X, end of year
CashLn 1$9.5M
SavingsLn 2$6.3M
Cash and savings togetherLn 1–2$15.9M
InvestmentsLn 11–13$220.3M
Land, buildings, equipmentLn 10c$242.3M
Other assetsLn 15$11K
Total assetsLn 16$495.4M
LiabilitiesLn 26$147.3M
Net assetsLn 32$348.1M
OperationsPt I, VI
EmployeesI 53,248
VolunteersI 627
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$43.5M$15.9M
InvestmentsLn 11–13$197.5M$220.3M
Land, buildings, equipmentLn 10c$237.2M$242.3M
Total assetsLn 16$488.7M$495.4M
LiabilitiesLn 26$171.3M$147.3M
Net assetsLn 32$317.4M$348.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$77.1M$77.1M
Pay of current officers, directors and key staffLn 5$2.4M$2.4M
Pay of disqualified personsLn 6$206K$206K
Other salaries and wagesLn 7$75.9M$56.5M$17.4M$2.0M
Pension plan contributionsLn 8−$383−$276−$98−$9
Other employee benefitsLn 9$13.5M$9.8M$3.3M$335K
Payroll taxesLn 10$5.8M$4.2M$1.5M$144K
Legal feesLn 11b$75K$75K
Accounting feesLn 11c$110K$110K
Professional fundraising feesLn 11e$79K$79K
Investment management feesLn 11f$823K$823K
Other fees for servicesLn 11g$14.8M$5.4M$9.4M
Advertising and promotionLn 12$3.6M$224K$3.3M$57K
Office expensesLn 13$755K$495K$221K$40K
Information technologyLn 14$3.2M$630K$2.5M$47K
OccupancyLn 16$2.5M$1.5M$1.0M
TravelLn 17$230K$176K$39K$15K
Conferences, conventions and meetingsLn 19$79K$27K$50K$2K
InterestLn 20$4.5M$4.4M$133K$11K
Depreciation, depletion and amortizationLn 22$11.2M$10.2M$993K$78K
InsuranceLn 23$1.1M$123K$927K
Other expenses (24a–d)Ln 24$2.0M$11.3M−$9.4M$77K
All other expensesLn 24e$5.4M$4.2M$1.2M$41K
Total functional expensesLn 25$225.4M$186.2M$36.3M$2.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $250.2M$241.8M$8.3M$375.1M 990 PDF
FY2023 $223.7M$236.1M−$12.4M$320.8M 990 PDF
FY2022 $249.4M$242.7M$6.7M$323.2M 990 PDF
FY2021 Viewing $217.2M$225.4M−$8.2M$348.1M 990 PDF
FY2020 $260.7M$227.7M$32.9M$317.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (5 parts)
Part I · Summary $217,190,577 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $24,716,657$32,043,524
I-9 Program service revenuePrior year $203,454,858$176,035,254
I-10 Investment incomePrior year $31,824,703$8,546,784
I-11 Other revenuePrior year $668,926$565,015
I-12 Total revenuePrior year $260,665,144$217,190,577
I-13 Grants and similar amounts paidPrior year $65,844,714$77,133,494
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $110,818,817$97,842,968
I-16a Professional fundraising feesPrior year $136,142$78,814
I-17 Other expensesPrior year $50,938,365$50,309,762
I-18 Total expensesPrior year $227,738,038$225,365,038
I-19 Revenue less expensesPrior year $32,927,106−$8,174,461
Part VIII · Statement of revenue $217,190,577 across 11 lines filed
Lines not itemized here account for $816,548 of total revenue; see the IRS return.
VIII-1e Government grants$14,012,320
VIII-1f All other contributions, gifts and grants$18,031,204
VIII-1g Noncash contributions (included above)$439,304
VIII-1h Total contributions, gifts and grants$32,043,524
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $175,656,997$175,656,997
VIII-3 Investment incomeExcluded from tax $2,737,082$2,737,082
VIII-5 RoyaltiesExcluded from tax $12,466$12,466
VIII-6 Net rental income or lossExcluded from tax $114,138$114,138
VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,809,702$5,809,702
VIII-8 Net income from fundraising eventsExcluded from tax $120$120
VIII-12 Total revenueRelated to mission $176,035,254 · Unrelated business $0 · Excluded from tax $9,111,799$217,190,577
Part IX · Statement of functional expenses $225,365,038 across 23 lines filed
IX-2 Grants to domestic individualsPrograms $77,133,494$77,133,494
IX-5 Pay of current officers, directors and key staffManagement $2,427,525$2,427,525
IX-6 Pay of disqualified personsManagement $205,828$205,828
IX-7 Other salaries and wagesPrograms $56,530,904 · Management $17,393,961 · Fundraising $1,982,843$75,907,708
IX-8 Pension plan contributionsPrograms −$276 · Management −$98 · Fundraising −$9−$383
IX-9 Other employee benefitsPrograms $9,812,988 · Management $3,316,138 · Fundraising $335,117$13,464,243
IX-10 Payroll taxesPrograms $4,203,137 · Management $1,491,371 · Fundraising $143,539$5,838,047
IX-11b Legal feesManagement $74,883$74,883
IX-11c Accounting feesManagement $110,021$110,021
IX-11e Professional fundraising feesFundraising $78,814$78,814
IX-11f Investment management feesManagement $823,203$823,203
IX-11g Other fees for servicesPrograms $5,391,573 · Management $9,381,876$14,773,449
IX-12 Advertising and promotionPrograms $223,683 · Management $3,343,785 · Fundraising $56,928$3,624,396
IX-13 Office expensesPrograms $494,714 · Management $220,575 · Fundraising $39,983$755,272
IX-14 Information technologyPrograms $630,069 · Management $2,493,059 · Fundraising $46,687$3,169,815
IX-16 OccupancyPrograms $1,476,632 · Management $1,013,165$2,489,797
IX-17 TravelPrograms $176,304 · Management $38,584 · Fundraising $14,873$229,761
IX-19 Conferences, conventions and meetingsPrograms $27,084 · Management $49,909 · Fundraising $2,033$79,026
IX-20 InterestPrograms $4,351,922 · Management $132,852 · Fundraising $11,479$4,496,253
IX-22 Depreciation, depletion and amortizationPrograms $10,177,170 · Management $993,149 · Fundraising $78,143$11,248,462
IX-23 InsurancePrograms $123,402 · Management $926,952$1,050,354
IX-24 Other expenses (24a–d)Programs $11,293,245 · Management −$9,372,161 · Fundraising $76,614$1,997,698
IX-24e All other expensesPrograms $4,153,429 · Management $1,192,484 · Fundraising $41,459$5,387,372
IX-25 Total functional expensesPrograms $186,199,474 · Management $36,257,061 · Fundraising $2,908,503$225,365,038
Part X · Balance sheet $495,437,445 assets, 21 lines filed
Asset lines not itemized here account for $1,163,003; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $25,568,239$9,529,506
X-2 Savings and temporary cash investmentsStart of year $17,925,238$6,342,039
X-3 Pledges and grants receivableStart of year $3,813,415$2,573,696
X-4 Accounts receivableStart of year $4,106,976$11,376,595
X-8 Inventories for sale or useStart of year $258,101$235,569
X-9 Prepaid expenses and deferred chargesStart of year $1,130,174$1,594,466
X-10c Land, buildings and equipment, netStart of year $237,202,083$242,313,652
X-11 Publicly traded securitiesStart of year $130,447,265$140,799,063
X-12 Other securitiesStart of year $51,793,011$65,413,883
X-13 Program-related investmentsStart of year $15,221,264$14,084,710
X-15 Other assetsStart of year $11,263$11,263
X-16 Total assetsStart of year $488,716,476$495,437,445
X-17 Accounts payable and accrued expensesStart of year $14,474,492$14,841,248
X-19 Deferred revenueStart of year $11,636,193$9,211,981
X-20 Tax-exempt bond liabilitiesStart of year $116,004,536$113,095,153
X-25 Other liabilitiesStart of year $10,219,694$10,178,079
X-26 Total liabilitiesStart of year $171,334,915$147,326,461
X-27 Net assets without donor restrictionsStart of year $237,814,215$251,441,845
X-28 Net assets with donor restrictionsStart of year $79,567,346$96,669,139
X-32 Total net assets or fund balancesStart of year $317,381,561$348,110,984
X-33 Total liabilities and net assetsStart of year $488,716,476$495,437,445
Part XI · Reconciliation of net assets $348,110,984 net assets at year end
XI-1 Total revenue$217,190,577
XI-2 Total expenses$225,365,038
XI-3 Revenue less expenses−$8,174,461
XI-4 Net assets at start of year$317,381,561
XI-5 Net unrealized gains (losses) on investments$38,395,773
XI-9 Other changes in net assets$508,111
XI-10 Net assets at end of year$348,110,984

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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