Great Lakes Bible College

Analysis

Great Lakes Bible College is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in June 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Great Lakes Bible College reported income of $4.2m and spending of $4.2m, spending 98% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.6m to $4.2m (+61%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Great Lakes Bible College sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within MI. Charities of a similar size with the same main cause include Unthsc Foundation ($4.2m), Action Based Enterprises Inc ($4.2m) and Herbert H Lehman College Foundation Inc ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $155k (3.7% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $4.1m against liabilities of $2.4m, net assets of $1.7m. It reported 181 employees.