GREAT LAKES BIBLE COLLEGE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1972

Legal Domicile

Principal Officer

BRYAN C TARRANT

Phone

5173210242

Tax Period

2023-07-01 to 2024-06-30

GREAT LAKES BIBLE COLLEGE, founded in 1972, is a community nonprofit in the Education sector that reported $4.6M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $4.5M left a modest 3% surplus.

Mission

GREAT LAKES CHRISTIAN COLLEGE, AN INSTITUTION OF HIGHER EDUCATION AFFILIATED WITH CHRISTIAN CHURCHES/CHURCHES OF CHRIST, SEEKS TO GLORIFY GOD BY PREPARING STUDENTS TO BE SERVANT-LEADERS IN THE CHURCH AND WORLD.

Program Service Accomplishments

Program 1

Expenses: $1,769,941 Revenue: $892,090

AUXILIARY AND SUPPORT SERVICES INCLUDING CAFETERIA, BOOKSTORE AND HOUSING FACILITIES. STUDENT HOUSING WAS PROVIDED FOR APPROXIMATELY 212 STUDENTS FOR THE 2023 FALL SEMESTER AND THE 2024 SPRING...

AUXILIARY AND SUPPORT SERVICES INCLUDING CAFETERIA, BOOKSTORE AND HOUSING FACILITIES. STUDENT HOUSING WAS PROVIDED FOR APPROXIMATELY 212 STUDENTS FOR THE 2023 FALL SEMESTER AND THE 2024 SPRING SEMESTER.

Program 2

Expenses: $1,400,620 Revenue: $1,033,418

EDUCATIONAL - INCLUDING TWO AND FOUR YEAR DEGREES. MAIN EMPHASIS ON BIBLICAL STUDIES. 2023-2024 FALL SEMESTER ENROLLMENT WAS APPROX. 192 STUDENTS. 2023-2024 SPRING SEMESTER ENROLLMENT WAS APPROX. 157...

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,656,980

Program Service Revenue $1,925,508

Investment Income $46,860

Other Revenue $20,240

TOTAL REVENUE $4,649,588

Expense Breakdown

Grants Paid $249,110

Salaries & Benefits $1,929,356

Fundraising Expenses $200,990

Program Expenses $3,170,561

Other Expenses $2,321,552

TOTAL EXPENSES $4,500,018

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,649,588	$4,244,852	+0.1%
Expenses	$4,500,018	$4,151,415	+0.1%
Net Income	$149,570	$93,437	+0.6%

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

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

188

Volunteers

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

$141,089

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK WELLER	PRESIDENT	40.00	Officer	$68,258	$12,000	$80,258
BRYAN TARRANT	VP OF FINANCE OPERATIONS	40.00	Officer	$57,916	$2,915	$60,831
ANDY GERHART	TRUSTEE	5.00	Director	$0	$0	$0
COREY BAILEY	TRUSTEE	5.00	Director	$0	$0	$0
DAVID LUND	TRUSTEE	5.00	Director	$0	$0	$0
KELLY BENTLEY	TRUSTEE	5.00	Director	$0	$0	$0
TIM ST LOUIS	TRUSTEE	5.00	Director	$0	$0	$0
KEITH LAYMAN	TRUSTEE	5.00	Director	$0	$0	$0
STEVE YOUNG	TRUSTEE	5.00	Director	$0	$0	$0
CHUCK MARKEL	TRUSTEE	5.00	Director	$0	$0	$0
STEVE HIGGS	TRUSTEE	5.00	Director	$0	$0	$0
DENISE TIMM	TRUSTEE	5.00	Director	$0	$0	$0
DAVID LAUTZENHEISER	TRUSTEE	5.00	Director	$0	$0	$0
DAVID STACY	TRUSTEE	5.00	Director	$0	$0	$0
ROB FOWLER	TRUSTEE	5.00	Director	$0	$0	$0
TED BOLEMA	TRUSTEE	5.00	Director	$0	$0	$0
EVE KALTZ	SECRETARY	5.00	Officer Director	$0	$0	$0
MATT WESAW	TREASURER	5.00	Officer Director	$0	$0	$0
RICK STACY	VICE CHAIR	5.00	Officer Director	$0	$0	$0
WILLIAM GRAY	CHAIR	5.00	Officer Director	$0	$0	$0

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	No data	No data	No data	No data
2024	$4,649,588	$4,500,018	$4,345,257	$149,570
2023	$4,244,852	$4,151,415	$4,128,914	$93,437
2022	$3,739,090	$4,009,893	$2,935,573	$-270,803
2021	$3,193,047	$3,276,583	$3,326,303	$-83,536
2020	$2,631,290	$3,156,455	$3,341,460	$-525,165
2019	$2,844,694	$3,386,469	$3,521,119	$-541,775
2018	$3,230,554	$3,150,030	$3,779,831	$80,524