Reformation Bible College Inc
Nonprofit profile at a glance
- EIN
- 463103295
- IRS 990 coverage
- 2015–2020
- Forms available
- Form 990 2020
- Location
- Sanford, FL, USA
- Phone
- 4073334244
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Higher Education Institutions
- Affiliation
- Christianity
Reported finances
- Revenue
- $12,390,616
- Expenses
- $3,276,694
- Assets
- $392,858
- Liabilities
- $255,186
Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- Dr Stephen Nichols (Chairman/President RBC)
Highest reported compensation
- Christopher Larson (Director): $334,441 total reported compensation
- Dr Stephen Nichols (Chairman/President RBC): $265,995 total reported compensation
- James Moore (VP Operations/Secretary): $186,896 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Reformation Bible College exists to provide a place for learning devoted to serving both laymen and pastors, offering both undergraduate and graduate degree programs based on Reformed Christian doctrine.
What it reported doing in 2020
Reformation Bible College ("the College") is a place for both laypeople and pastors to study God's Word. Through undergraduate degrees and certificates based on Reformed Christian doctrine, the College prepares students for real-world ministry and service in any vocation.The College's classically based undergraduate degree program's curriculum includes courses on theology, biblical studies, literature, and more. During the Fall 2020 semester, there were eighty-one full-time students and twenty-two part-time students enrolled. During the Spring 2020 semester, there were seventy-one full-time students and twenty-three part-time students enrolled.Doctor of Ministry Program - The Doctor of Ministry (D.Min) program was a professional degree for pastors, missionaries, and others involved in full-time ministry who desire a deep knowledge of and greater competence in the practice of ministry. During 2020, the College's D.Min program had one part-time student. The College stopped accepting new D.Min students in spring 2017.Conferences - The College seeks to help as many people as possible to grow in their knowledge of God and His holiness. The College firmly believes that people must have a clear understanding of the biblical doctrine of salvation. During its 2020 Winter Conference, attendees explored the sufficiency of scripture.
Operating model
- Revenue model
- Affiliate-supported. 85% of the money available for current operations came from contributions from related organizations.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.
The verdict
SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 50
- Transparency & Controls: 91
- Accountability: 67
- Sustainability: 51
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 22.4%; rating input score 22
- Program expense ratio: 84.6%; rating input score 85
- Fundraising efficiency: $185.43 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 42.9%; rating input score 43; 8th 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: 73.6%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 0.12; rating input score 3; 3rd percentile among comparable filings
- Liabilities to assets ratio: 0.65; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 10.9%; rating input score 16; 16th percentile among comparable filings
Growth
- Program expense growth: 8.4% per year; rating input score 100; 70th percentile among comparable filings
- Revenue growth: 54% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 42.4% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 22.4% of revenue deployed · 84.6% of spending went to programs
- Governance: 3 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $2.8M in reported program spending
- Leadership: top reported pay $334K · 9 people listed · 5 of 6 pay-setting controls reported
- Consistency: 25 of 25 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 6 filing years from 2015 to 2020
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
- High — Financial Efficiency: Mission deployment rate scored 22/100.
- Moderate — Accountability: Independent voting board scored 43/100.
- High — Sustainability: Total-asset coverage ratio scored 3/100.
- High — Sustainability: Officer compensation ratio scored 16/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.