Grace Schools

Nonprofit profile at a glance

EIN
350868095
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Winona Lake, IN, USA
Phone
5743725100
Rating
77
Verdict
SUPPORTED
Rating confidence
Standard
Affiliation
Christianity

Official website

Reported finances

Revenue
$102,992,240
Expenses
$67,180,744
Assets
$128,905,473
Liabilities
$30,533,116

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • DR ANDREW FLAMM (PRESIDENT OF GRACE COLLEGE)

Highest reported compensation

  • DR ANDREW FLAMM (PRESIDENT OF GRACE COLLEGE): $298,723 total reported compensation
  • DR KEVIN ROBERTS (VP ACADEMIC AFFAIRS/PROVOST): $185,917 total reported compensation
  • DR NATHAN BOSCH (DIRECTOR LCFLS): $177,360 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Grace college is an evangelical christian community of higher education which applies biblical values in strengthening character, sharpening competence, and preparing for service. Grace theological seminary is a learning community dedicated to teaching, training, and transforming the whole person for local church and global ministry. At grace, the students, administration, faculty, and staff aim together to make christ preeminent in all things. Students learn this by living, studying, working, worshiping and achieving academic success with other young people who share similar christian ideals in a setting where the community lifestyle fosters devotion to serious academic inquiry, wholesome recreation and relaxation, and mature spiritual growth.

What it reported doing in 2024

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. Emphasis on a biblical world view and student ownership of personal faith that rightly handles the scriptures as the inerrant and verbally inspired word of god.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 82
  • Accountability: 95
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.9%; rating input score 56
  • Program expense ratio: 84.4%; rating input score 84
  • Fundraising efficiency: $42.68 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.8%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 1.92; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 55.9% of revenue deployed · 84.4% of spending went to programs
  • Governance: 24 of 24 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $56.7M in reported program spending
  • Leadership: top reported pay $299K · 31 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $8.9M reported
  • Consistency: 38 of 40 current checks pass · 2 findings to review
  • Schedules: 12 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 57/100.