Faith Bible College

Analysis

Faith Bible College is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in February 1998, 28 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, Faith Bible College reported income of $169k and spending of $270k, spending 160% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $322k to $169k (-47%), an average of -47% a year. The sharpest change came in the year to June 2023, when income dropped by 47%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Faith Bible College sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 49th percentile within VA. Charities of a similar size with the same main cause include Ufcw Leukemia Lymphoma Charity Golf Foundation ($169k), Luke Homan Foundation Inc ($169k) and Amani Partners Kenya ($169k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 22% of the total. At year end it held assets of $162k against liabilities of $131k, net assets of $31k.