Hobe Sound Bible College Inc

Nonprofit profile at a glance

EIN
591407629
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Hobe Sound, FL, USA
Phone
7725465534
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)
Affiliation
Christianity

Official website

Reported finances

Revenue
$5,908,307
Expenses
$5,756,000
Assets
$6,611,901
Liabilities
$629,506

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

Leadership & pay

19 people listed

Executive titles in this filing

  • MATT MALOYED (PRESIDENT)

Highest reported compensation

  • MATT MALOYED (PRESIDENT): $69,994 total reported compensation
  • AARON HAMILTON (CFO (NOW CAO): $57,112 total reported compensation

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

Overview

Mission

Christian education from pre-kindergarten through the fourth year of college.

What it reported doing in 2024

Educational instruction provided for up to 200 college students in four- year college programs and 260 academy students in pre-k through 12th grade.

Operating model

Revenue model
Earned-program. 74% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 82% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 83
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: $44.22 raised per $1 spent on fundraising; rating input score 76; 76th 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; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.1%; rating input score 94; 24th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.6%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 1.15; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 88.3% of spending went to programs
  • Governance: 16 of 17 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.1M in reported program spending
  • Leadership: top reported pay $70K · 19 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 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.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.