Welch College

Analysis

Welch College is a registered charity in United States, based in Gallatin, TN. It received its IRS tax-exemption ruling in November 1991, 35 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Welch College reported income of $8.0m and spending of $10.4m, spending 130% of what it took in. Across the 4 years on record, from May 2020 to May 2023, income fell from $9.1m to $8.0m (-12%), an average of -4.1% a year. The sharpest change came in the year to May 2023, when income dropped by 31%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Welch College sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within TN. Charities of a similar size with the same main cause include Cedars Academy ($8.0m), Magnolia Heights School Inc ($8.0m) and St Petersburg College Foundation Inc ($8.0m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 45% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $365k (3.5% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $39.3m against liabilities of $18.2m, net assets of $21.1m. It reported 210 employees.