Welch College in Nashville, Tennessee (TN)

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Welch College
Employer Identification Number (EIN)620481463
Name of OrganizationWelch College
Address3606 W End Ave, Nashville, TN 37205-2403
ActivitiesReligious publishing activities
SubsectionReligious Organization
Ruling Date11/1991
DeductibilityContributions are deductible
FoundationChurch
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period05/2014
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$12,789,946
Amount of Income$6,435,205
Form 990 Revenue Amount$6,435,205
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2014: $6,435,205
Welch College: 

 $6,435,205
Other organizations performing similar types of work: 

 $66,253,053

Assets in 2014: $12,789,946
Welch College: 

 $12,789,946
Other organizations performing similar types of work: 

 $118,174,264

Expenses in 2014: $6,579,626
This organization: 

 $6,579,626
Other organizations performing similar types of work: 

 $52,716,293

Income to expenses ratio in 2014: 1.0
Welch College: 

 1.0
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 78.5%
Welch College: 

 78.5%
Other organizations performing similar types of work: 

 83.2%

Number of employees in 2014: 229
This organization: 

 229
Other organizations performing similar types of work: 

 1,113

Grants share in income in 2014: 22.8%
Welch College: 

 22.8%
Other organizations performing similar types of work: 

 4.4%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYesYes
Did the organization report an amount for land, buildings, and equipment?YesYesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other liabilities?YesYesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?YesYesYes
Did the organization maintain an office, employees, or agents outside of the United States?NoNoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNoNo
Did the organization operate one or more hospital facilities?NoNoNo
Did the organization attach a copy of its audited financial statements?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?YesNoYes
A family member of a current or former officer, director, trustee, or key employee?NoNoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNoNo
Was the organization related to any tax-exempt or taxable entity?YesYesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 1096131819
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return297291229
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNoNo
Did the organization notify the donor of the value of the goods or services provided?NoNoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoYes
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoYes
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$307,265$323,380$328,428
Total reportable compensation from related organizations$0$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization000
Total number of independent contractors who received more than $100,000 of compensation from the organization000
Statement of Revenue
2011201220132014
Total revenue$5,925,972$6,881,842$6,677,333$6,435,205
Contributions, Gifts, Grants and Other Similar Amounts$1,590,848$1,871,012$1,577,398$1,468,688
Program Service Revenue$4,057,992$3,949,715$4,025,355$4,858,747
900099$3,029,322$3,055,582$3,649,111
900099$390,047$400,281$491,068
900099$508,093$533,564$674,874
900099$22,253$35,928$43,694
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$248,848$62,567$17,335$18,424
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$0$763,599$1,034,254$0
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$28,284$234,949$22,991$89,346
900099$200,000$10,156$3,671
900099$0$12,835$85,675
All other revenue$34,949$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$5,831,180$6,188,337$5,916,718$6,579,626
Grants and other assistance to domestic organizations and domestic governments$0$0$0
Grants and other assistance to domestic individuals$1,009,520$1,094,864$1,298,807
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$221,938$307,265$323,380$328,428
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$0$1,952,395$1,768,141$1,809,175
Pension plan accruals and contributions$0$0$0
Other employee benefits$599,030$614,224$444,489
Payroll taxes$0$0$0$0
Fees for services (non-employees)
Management$0$0$0
Legal$0$0$42,207
Accounting$26,000$25,366$27,618
Lobbying$0$0$0
Professional fundraising services$7,910$10,300$6,597$5,500
Investment management fees$0$0$0
Other$75,248$14,080$31,200
Advertising and promotion$53,168$48,052$52,882
Office expenses$344,535$304,378$296,834
Information technology$26,178$24,470$3,074
Royalties$0$0$0
Occupancy$296,330$256,437$349,375
Travel$201,117$178,614$229,721
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$17,324$9,423$7,888
Interest$162,185$204,365$222,242
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$230,210$226,526$196,251
Insurance$57,829$42,857$56,408
Other expenses$254,933$242,205$316,544
Other expenses$114,583$118,980$120,847
Other expenses$110,211$86,370$167,327
Other expenses$236,145$0$572,809
Balance Sheet
2011201220132014
Total assets$13,222,063$13,829,336$12,755,966$12,789,946
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$1,171,427$1,271,645$1,224,017
Pledges and grants receivable, net$565,977$431,962$367,870
Accounts receivable, net$352,612$40,046$88,509
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$184,324$169,955$45,200
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$460,368$14,544$7,309
Land, buildings, and equipment: cost or other basis$9,733,355$9,326,055$9,398,107
Investments - publicly traded securities$213,481$230,706$248,038
Investments - other securities$1,147,792$1,271,053$1,410,896
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$0$0$0
Total liabilities$6,054,992$6,705,533$5,638,160$5,669,711
Accounts payable and accrued expenses$126,174$196,047$202,384
Grants payable$0$0$0
Deferred revenue$0$40,001$51,179
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$3,832,050$3,460,598$4,818,715$4,711,564
Unsecured notes and loans payable to unrelated third parties$143,506$138,061$140,516$125,319
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$2,980,700$442,881$579,265
Total net assets or fund balances$7,167,071$7,123,803$7,117,806$7,120,235
Unrestricted net assets$4,767,240$4,669,021$4,588,738
Temporarily restricted net assets$590,571$664,905$813,865
Permanently restricted net assets$1,765,992$1,783,880$1,717,632
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$4,220,963$4,166,088$4,755,506$5,581,408$5,917,518$6,232,727$6,451,939$6,042,205
Contributions, gifts, grants, and similar amounts received$1,601,192$1,459,884$1,560,807$1,560,291$1,316,777$1,524,038$1,523,104$1,693,899
Contributions to donor advised funds$0$0
Direct public support$1,565,227$1,427,675$1,517,777$41,628$1,231,136$1,485,656$1,482,198$1,653,453
Indirect public support$0$0$0$0$50,284$0$0$0
Government contributions (grants)$35,965$32,209$43,030$1,518,663$35,357$38,382$40,906$40,446
Program service revenue including government fees and contracts$2,584,441$2,731,762$3,194,008$3,699,213$4,232,144$4,584,823$4,740,019$4,179,716
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$38,478$19,963$14,090$21,484$43,640$59,159$148,439$115,613
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-61,214$-88,367$-35,340$293,691$289,570$43,558$20,706$24,962
Gross amount from sales of assets other than inventory$460,219$220,925$0$720,954$330,599$43,558$874,898$24,962
Less: cost or other basis and sales expenses$521,433$309,292$35,340$427,263$41,029$0$854,192$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$13,385$3,131$3,531$-20,695$24,577$670$0$0
Gross sales of inventory, less returns and allowances$107,506$96,152$101,497$100,088$99,650$11,466$0$0
Less: cost of goods sold$94,121$93,021$97,966$120,783$75,073$10,796$0$0
Other revenue$44,681$39,715$18,410$27,424$10,810$20,479$19,671$28,015
Total expenses$4,030,014$4,279,648$4,779,210$5,237,664$5,451,861$5,993,444$6,205,037$6,085,981
Program services$3,312,299$3,434,337$3,888,889$4,160,605$4,379,987$4,566,805$4,805,162$4,775,715
Management and general$348,344$402,257$451,145$624,593$633,237$891,358$810,023$770,411
Fundraising$369,371$443,054$439,176$452,466$438,637$535,281$589,852$539,855
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$5,372,402$5,258,842$5,235,138$5,578,882$6,044,539$6,283,822$6,381,657$6,337,881
Excess or (deficit) for the year$190,949$-113,560$-23,704$343,744$465,657$239,283$246,902$-43,776
Net assets or fund balances at beginning of year$5,181,453$5,372,402$5,258,842$5,235,138$5,578,882$6,044,539$6,283,822$6,381,657
Other changes in net assets or fund balances$0$0$0$0$0$0$-149,067$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$6,085,981$4,775,715$770,411$539,855
Grants paid from donor advised funds$0
Other grants and allocations$670,799
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$322,255$98,029$175,406$48,820
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$2,211,425$1,609,001$467,795$134,629
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$678,678$468,939$177,119$32,620
Payroll taxes$0$0$0$0
Professional fundraising fees$9,556$0$0$9,556
Accounting fees$15,535$0$15,535$0
Legal fees$0$0$0$0
Supplies$129,590$76,232$53,358$0
Telephone$9,410$9,410$0$0
Postage and shipping$0$0$0$0
Occupancy$630,720$458,248$172,472$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$57,966$0$57,966$0
Travel$132,938$43,405$15,313$74,220
Conferences, conventions, and meetings$14,252$0$14,252$0
Interest$89,801$0$89,801$0
Depreciation, depletion, etc.$238,185$172,876$60,144$5,165
Other expenses not covered above$874,871$1,168,776$-528,750$234,845
Balance Sheets
20002001200220032004200520062007
Total assets$5,853,884$6,023,296$6,312,525$7,678,433$8,242,525$8,418,307$8,682,132$8,627,809
Cash - non-interest-bearing$0$0$0$0$0$0$1$0
Savings and temporary cash investments$954,737$1,035,276$1,001,926$1,422,536$1,921,283$1,891,362$2,750,896$2,567,061
Accounts receivable less allowance for doubtful accounts$61,808$55,703$138,890$278,820$171,894$337,942$292,124$150,474
Pledges receivable less allowance for doubtful accounts$281,600$145,900$59,300$50,000$98,855$92,744$174,354$253,684
Grants receivable$0$0$0$0$0$19,107$20,086$20,026
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$200,000$200,000
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$171,989$161,726$163,059$135,954$149,975$162,678$157,869$128,766
Inventories for sale or use$43,822$61,215$60,724$38,311$29,430$0$0$0
Prepaid expenses and deferred charges$32,036$5,496$63,640$37,611$6,275$53,644$13,394$28,360
Investments - publicly-traded securities$283,215$304,448
Investments - other securities$579,520$501,718$484,148$519,800$557,036$567,766$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$854,192$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$3,728,372$4,056,262$4,340,838$5,195,401$5,307,777$4,438,872$4,790,193$4,974,990
Other assets, including program-related investments$0$0$0$0$0$0$0$0
Total liabilities$481,482$764,454$1,077,387$2,099,551$2,197,986$2,134,485$2,300,475$2,289,928
Accounts payable and accrued expenses$73,807$223,634$205,181$281,153$394,989$332,196$369,707$391,601
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$23,910$12,323$18,333$47,230$78,284$68,381$54,866$42,433
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$203,743$458,397$737,865$1,608,975$1,603,214$1,572,123$1,554,174$1,482,159
Other liabilities$180,022$70,100$116,008$162,193$121,499$161,785$321,728$373,735
Total liabilities and net assets/fund balances$5,853,884$6,023,296$6,312,525$7,678,433$8,242,525$8,418,307$8,682,132$8,627,809
Total net assets or fund balances$5,372,402$5,258,842$5,235,138$5,578,882$6,044,539$6,283,822$6,381,657$6,337,881
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$4,220,963$4,166,088$4,755,506$5,581,408$5,917,518$6,232,727$6,451,939$6,042,205
Total revenue, gains, and other support per audited financial statements$4,303,489$3,975,768$4,502,644$5,277,070$5,563,606$5,695,668$5,826,430$5,332,021
Other expenses$94,121$93,021$97,967$120,783$75,073$10,796$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$94,121$93,021$97,967$120,783$75,073$10,796$0$0
Other revenue$11,595$283,341$350,829$425,121$428,985$547,855$625,509$710,184
Investment expenses$0$0$0$0$0$0$0$0
Other$11,595$283,341$350,829$425,121$428,985$547,855$625,509$710,184
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$4,030,014$4,279,648$4,779,210$5,237,664$5,451,861$5,993,444$6,205,037$6,085,981
Total expenses and losses per audited financial statements$4,112,540$4,089,328$4,526,348$4,933,326$5,097,949$5,456,385$5,579,528$5,375,797
Other revenue$94,121$93,021$97,967$120,783$75,073$10,796$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$94,121$93,021$97,967$120,783$75,073$10,796$0$0
Other expenses$11,595$283,341$350,829$425,121$428,985$547,855$625,509$710,184
Investment expenses$0$0$0$0$0$0$0$0
Other$11,595$283,341$350,829$425,121$428,985$547,855$625,509$710,184
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$67,531$0$0
40$53,080$0$0
40$54,795$0$0
40$54,795$0$0
40$43,234$0$0
40$48,820$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings9
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$168,590$4,179,716
Program service revenue
Program service revenue 1000000$000$0$3,195,167
Program service revenue 2000000$000$0$430,156
Program service revenue 3000000$000$0$542,839
Program service revenue 4000000$000$0$9,738
Program service revenue 5000000$000$0$1,816
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$115,613$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$24,962$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$28,015$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$50,257$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0001
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Franklin W Olin College Of Engineering IncOlin Way Mh314, Needham, MA 02492MA1998-09$1,397,497,296
2Swarthmore College500 College Ave, Swarthmore, PA 19081-1306PA1950-03$1,340,708,741
3Wellesley College106 Central Street, Wellesley, MA 02481-8203MA1946-04$761,881,340
4Rhodes College2000 N Parkway, Memphis, TN 38112-1690TN1946-07$169,018,364
5Union University1050 Union University Dr, Jackson, TN 38305-3656TN1968-03$94,502,091
6Lee University1120 N Ocoee St, Cleveland, TN 37311-4458TN1951-10$92,490,665
7Freed-Hardeman University158 E Main St, Henderson, TN 38340-2306TN1975-03$88,401,094
8Trevecca Nazarene University333 Murfreesboro Pike, Nashville, TN 37210-2834TN1946-07$64,983,282
9Carson-Newman UniversityPO BOX 557, Jefferson Cty, TN 37760-0557TN1933-11$58,514,913
10Maryville College502 E Lamar Alexander Pkwy, Maryville, TN 37804-5907TN1941-02$53,695,016
11King University1350 King College Rd, Bristol, TN 37620-2632TN1979-07$48,161,787
12Tusculum CollegePO BOX 5100, Greeneville, TN 37743-0002TN1934-02$41,542,396
13Bryan College721 Bryan Dr, Dayton, TN 37321-6275TN1941-02$18,895,482
14Talladega College627 Battle St W, Talladega, AL 35160-2354AL1945-05$18,799,314
15Welch College3606 W End Ave, Nashville, TN 37205-2403TN1991-11$6,435,205
16Knoxville College901 Knoxville College Dr, Knoxville, TN 37921-4868TN1944-03$1,405,213
17Breakthrough Bible Institute College Inc4305 St Barnabas Rd 402 4305 St Barnabas Rd, Temple Hill, MD 20748MD2007-03$408,000
18Campbell Bible CollegePO BOX 12567, Charleston, SC 29422-2567SC2007-07$8,700
19Martin College11469 Olive Blvd Pmb 116, St Louis, MO 63141-7108MO1999-05$0
20Williams Baptist College60 W Fulbright Ave, Walnut Ridge, AR 72476-9000AR2002-06$0
Number of organizations performing similar types of work
Alabama8
Arkansas8
California16
Connecticut5
District of Columbia2
Florida11
Georgia13
Iowa15
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania36
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total440
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateWelch College3606 W End Ave, Nashville, TN 37205-2403TN1991-11$6,435,205
SubordinateHillsdale Free Will Baptist College3701 South I-35 Service Rd, Moore, OK 73160-2929OK1991-11$3,999,795
CentralNational Association Of Free Will Baptists Inc, Executive Office Of Nafwb IncPO BOX 5002, Antioch, TN 37011-5002TN1991-11$0
SubordinateRandall House Publications Of The National Assn Of Free Will Baptist, Randall House Publications114 Bush Rd, Nashville, TN 37217-2904TN1991-11$4,950,139
SubordinateBethel Free Will Baptist Church4621 Pelham St, Dearborn Hts, MI 48125-3124MI1991-11$0
SubordinateBeacon Baptist Church Inc2110 Trawick Rd, Raleigh, NC 27604-3843NC1991-11$0
SubordinateBethel Free Will Baptist Church, Bethel Christian Academy1936 Banks School Rd, Kinston, NC 28504-9187NC1991-11$0
SubordinateBoard Of Intl Missions Of The Natl Assn Of Free Will Baptists Inc5233 Mount View Rd, Antioch, TN 37013-2306TN1991-11$0
SubordinateBoard Of Retirement & Insurance Natl Assoc Of Free Will BaptistsPO BOX 5002, Antioch, TN 37011-5002TN1991-11$0
SubordinateBrockland Free Will Baptist Church6515 Nw Maple Ave, Lawton, OK 73505-4318OK1991-11$0
SubordinateCalvary Freewill Baptist Church Hwy 701 N1663 N Fraser St, Georgetown, SC 29440-7757SC1991-01$0
SubordinateCross Timbers Free Will Baptist ChurchPO BOX 185, Konawa, OK 74849-0185OK1991-11$0
SubordinateCofers Chapel Free Will Baptist Church3915 Franklin Pike, Nashville, TN 37204-3599TN1991-11$0
SubordinateEast Kansas Quarterly Conference Of Free Will Baptists5864 Sw 26th St, Topeka, KS 66614-2404KS1991-11$0
SubordinateFairview Freewill Baptist Church2058 Chesnee Hwy, Spartanburg, SC 29303-3322SC1991-11$0
SubordinateFirst Freewill Baptist Of Tampa, Seffner Christian Academy11605 Highway 92 East, Seffner, FL 33584FL1991-11$0
SubordinateFirst Free Will Baptist Church4314 W 5th Street Rd, Owensboro, KY 42301-8202KY1991-11$0
SubordinateFree Will Baptist Family Ministries Inc90 Stanley Ln, Greeneville, TN 37743-6066TN1991-11$0
SubordinateFree Will Baptist Foundation Inc5233 Mount View Rd, Antioch, TN 37013-2306TN1991-11$0
SubordinateGood Springs Free Will Baptist Church2330 Goodsprings Rd, Pleasant View, TN 37146-8031TN1991-01$0
Number of affiliated organizations
Arizona1
California1
Delaware1
Florida1
Kansas1
Kentucky3
Michigan1
North Carolina9
New Mexico1
Ohio3
Oklahoma3
South Carolina4
Tennessee12
Texas3
Utah1
Virginia1
Washington1
West Virginia3
Total50

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