Heritage Bible College

Analysis

Heritage Bible College is a registered charity in United States, based in Dunn, NC. It received its IRS tax-exemption ruling in March 1980, 46 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 2024, Heritage Bible College reported income of $292k and spending of $418k, spending 143% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $457k to $292k (-36%), an average of -11% a year. The sharpest change came in the year to June 2024, when income dropped by 29%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heritage Bible College sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within NC. Charities of a similar size with the same main cause include Andys Angels ($292k), Circle Time Child Development Center Inc ($292k) and Preparatory School of the District of Columbia Inc ($292k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 28% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $59k (14% of expenses). Other salaries and wages came to $239k. At year end it held assets of $134k against liabilities of $8,020, net assets of $126k. It reported 21 employees.