Grace Schools

EIN: 350868095 501(c)(3) Education

WINONA LAKE, IN

Total Revenue
$102,992,240
Total Expenses
$67,180,744
Total Assets
$128,905,473
Net Assets
$98,372,357
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1948
Legal Domicile
IN
Phone
5743725100
Tax Period
2024-08-01 to 2025-07-31

Grace Schools, founded in 1948, is a major nonprofit in the Education sector that reported $103.0M in total revenue in fiscal year 2024. Revenue surged 1868% from the prior year, signaling strong growth momentum. The organization ran a surplus of $35.8M, a strong 35% operating margin.

Mission

GRACE COLLEGE IS AN EVANGELICAL CHRISTIAN COMMUNITY OF HIGHER EDUCATION WHICH APPLIES BIBLICAL VALUES IN STRENGTHENING CHARACTER, SHARPENING COMPETENCE, AND PREPARING FOR SERVICE. GRACE THEOLOGICAL SEMINARY IS A LEARNING COMMUNITY DEDICATED TO TEACHING, TRAINING, AND TRANSFORMING THE WHOLE PERSON FOR LOCAL CHURCH AND GLOBAL MINISTRY. AT GRACE, THE STUDENTS, ADMINISTRATION, FACULTY, AND STAFF AIM TOGETHER TO MAKE CHRIST PREEMINENT IN ALL THINGS. STUDENTS LEARN THIS BY LIVING, STUDYING, WORKING, WORSHIPING AND ACHIEVING ACADEMIC SUCCESS WITH OTHER YOUNG PEOPLE WHO SHARE SIMILAR CHRISTIAN IDEALS IN A SETTING WHERE THE COMMUNITY LIFESTYLE FOSTERS DEVOTION TO SERIOUS ACADEMIC INQUIRY, WHOLESOME RECREATION AND RELAXATION, AND MATURE SPIRITUAL GROWTH.

Program Service Accomplishments

Program 1
Expenses: $47,974,307 Revenue: $49,068,543

INSTRUCTIONAL PROGRAMS LOCATED ON A 180 ACRE CAMPUS WITH 2 SATELLITE CAMPUSES SERVING APPROXIMATELY 2,000 UNDERGRADUATE AND GRADUATE STUDENTS IN 100+ MAJORS, MINORS, CERTIFICATES AND GRADUATE...

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INSTRUCTIONAL PROGRAMS LOCATED ON A 180 ACRE CAMPUS WITH 2 SATELLITE CAMPUSES SERVING APPROXIMATELY 2,000 UNDERGRADUATE AND GRADUATE STUDENTS IN 100+ MAJORS, MINORS, CERTIFICATES AND GRADUATE PROGRAMS. GRACE OFFERS A 3 YEAR DEGREE PROGRAM WITH OPPORTUNITY TO EARN A MASTERS DEGREE IN THE 4TH YEAR. EMPHASIS ON A BIBLICAL WORLD VIEW AND STUDENT OWNERSHIP OF PERSONAL FAITH THAT RIGHTLY HANDLES THE SCRIPTURES AS THE INERRANT AND VERBALLY INSPIRED WORD OF GOD.

Program 2
Expenses: $8,706,116 Revenue: $13,642,011

AUXILIARY PROGRAMS OFFERING RESIDENTIAL HOUSING AND MEALS ON 180 ACRE CAMPUS. GRACE OFFERS 18 VARSITY SPORTS AND A VIBRANT INTRAMURAL AND CLUB SPORTING PROGRAM. GRACE HAS 15 PRIMARY STUDENT...

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AUXILIARY PROGRAMS OFFERING RESIDENTIAL HOUSING AND MEALS ON 180 ACRE CAMPUS. GRACE OFFERS 18 VARSITY SPORTS AND A VIBRANT INTRAMURAL AND CLUB SPORTING PROGRAM. GRACE HAS 15 PRIMARY STUDENT ORGANIZATIONS AND MANY ACADEMIC CLUBS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $38,231,850
Program Service Revenue $62,554,802
Investment Income $1,939,346
Other Revenue $266,242
TOTAL REVENUE $102,992,240

Expense Breakdown

Grants Paid $21,579,488
Salaries & Benefits $20,104,327
Fundraising Expenses $895,778
Program Expenses $56,680,423
Other Expenses $25,467,602
TOTAL EXPENSES $67,180,744

Year-over-Year Comparison

2024 2023 Change
Revenue $102,992,240 $5,234,116 +18.7%
Expenses $67,180,744 $9,115,272 +6.4%
Net Income $35,811,496 $-3,881,156 -10.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
24
Independent Members
24
Employees
1160
Volunteers
300

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$463,808
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR DANIEL W RENNER CHAIR 1.0
Officer Director
$0 $0 $0
MR SETH NASH VICE CHAIR 1.0
Officer Director
$0 $0 $0
MS JANINE ZELTWANGER SECRETARY 1.0
Officer Director
$0 $0 $0
DR KAREN WHITE TRUSTEE 1.0
Director
$0 $0 $0
MR CORY COLMAN TRUSTEE 1.0
Director
$0 $0 $0
MR DANIEL SANDOVAL TRUSTEE 1.0
Director
$0 $0 $0
MR GREG DOSMANN TRUSTEE 1.0
Director
$0 $0 $0
MR JAMES GRADY TRUSTEE 1.0
Director
$0 $0 $0
MR JONATHON ALLEN TRUSTEE 1.0
Director
$0 $0 $0
MR KEITH MINIER TRUSTEE 1.0
Director
$0 $0 $0
MR LAMARR LARK TRUSTEE 1.0
Director
$0 $0 $0
MR LOREN NEUENSCHWANDER TRUSTEE 1.0
Director
$0 $0 $0
MR MATT ABERNETHY TRUSTEE 1.0
Director
$0 $0 $0
MR MIKE YODER TRUSTEE 1.0
Director
$0 $0 $0
MR QUENTIN BLACKFORD TRUSTEE 1.0
Director
$0 $0 $0
MR RANDY LAKE TRUSTEE 1.0
Director
$0 $0 $0
MR ROBERT BISHOP TRUSTEE 1.0
Director
$0 $0 $0
MR SCOTT SILVEUS ASSISTANT SECRETARY 1.0
Director
$0 $0 $0
MRS JENN AVEY TRUSTEE 1.0
Director
$0 $0 $0
MRS JESSICA BRICKER TRUSTEE 1.0
Director
$0 $0 $0
MRS LETITIA WILLIAMS TRUSTEE 1.0
Director
$0 $0 $0
MS PHYLLIS MARWAH TRUSTEE 1.0
Director
$0 $0 $0
REV ADAM COPENHAVER TRUSTEE 1.0
Director
$0 $0 $0
REV KIP CONE TRUSTEE 1.0
Director
$0 $0 $0
DR ANDREW FLAMM PRESIDENT OF GRACE COLLEGE 40.0
Officer
$273,581 $25,142 $298,723
MR DOUG BAUMGARDNER CFO 40.0
Officer
$155,378 $9,707 $165,085
DR KEVIN ROBERTS VP ACADEMIC AFFAIRS/PROVOST 40.0
Highest
$176,168 $9,749 $185,917
DR NATHAN BOSCH DIRECTOR LCFLS 40.0
Highest
$168,158 $9,202 $177,360
DR ROGER STICHTER PROF OF ACCOUNTING & FINANCE 40.0
Highest
$143,944 $8,061 $152,005
DR TIM ZIEBARTH DEAN OF ONLINE EDUCATION 40.0
Highest
$161,805 $10,116 $171,921
DR TRENT LAMBERT DIRECTOR OF THE CENTER FOR THRIVING LEADERS 40.0
Highest
$145,417 $6,274 $151,691
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $102,992,240 $67,180,744 $128,905,473 $35,811,496
2024 No data No data No data No data
2024 $68,609,939 $63,019,377 $91,468,346 $5,590,562
2023 $65,010,659 $61,412,478 $85,935,849 $3,598,181
2022 $64,762,648 $57,268,723 $83,215,559 $7,493,925
2021 $54,935,662 $53,545,999 $81,086,720 $1,389,663
2020 $51,027,031 $52,248,694 $78,967,749 $-1,221,663
2019 $49,643,446 $52,647,573 $77,353,144 $-3,004,127
2018 $53,616,565 $51,728,901 $77,334,763 $1,887,664
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