Carolina College of Biblical Studies
Nonprofit profile at a glance
- EIN
- 561388743
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Fayetteville, NC, USA
- Phone
- 9103235614
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Undergraduate College (4-year)
- Affiliation
- Christianity
Reported finances
- Revenue
- $1,808,122
- Expenses
- $1,635,885
- Assets
- $4,108,910
- Liabilities
- $118,797
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- BILL KORVER (PRESIDENT)
Highest reported compensation
- BILL KORVER (PRESIDENT): $141,060 total reported compensation
- RICHARD HOVATER (VP OF FINANCE): $67,056 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Carolina college of biblical studies exists to disciple christ-followers, through biblical higher education, for a lifetime of effective servant leadership.
What it reported doing in 2024
To educate individuals to know and apply god's word in the context of effective local church ministry.
Operating model
- Revenue model
- Earned-program. 68% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 52
- Transparency & Controls: 94
- Accountability: 95
- Sustainability: 59
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 54%; rating input score 54
- Program expense ratio: 61.5%; rating input score 62
- Fundraising efficiency: $4.26 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 9.5%; rating input score 60; 60th percentile among comparable filings
- Total-asset coverage ratio: 2.51; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
- Officer compensation ratio: 12.7%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
- Revenue growth: 6% per year; rating input score 100; 49th percentile among comparable filings
- Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings
Details
- Where the money goes: 54% of revenue deployed · 61.5% of spending went to programs
- Governance: 10 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1M in reported program spending
- Leadership: top reported pay $141K · 12 people listed
- Consistency: 34 of 34 current checks pass
- Schedules: 7 filed schedules · includes major donors and grants
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Financial Efficiency: Mission deployment rate scored 54/100.
- High — Financial Efficiency: Fundraising efficiency scored 14/100.
- High — Sustainability: Officer compensation ratio scored 28/100.
- Review — Sustainability: Liabilities to assets ratio scored 59/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.