FAITH BIBLE COLLEGE

EIN: 541779894 501(c)(3) Education

NORFOLK, VA

Total Revenue
$248,443
Total Expenses
$277,167
Total Assets
$109,831
Net Assets
$1,983
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
VA
Principal Officer
DR KEVIN NEWMAN
Phone
7574232095
Tax Period
2023-07-01 to 2024-06-30

FAITH BIBLE COLLEGE, founded in 1995, is a small nonprofit in the Education sector that reported $322K in total revenue in fiscal year 2021. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $97K, a strong 30% operating margin.

Mission

FBC EXISTS TO EQUIP CHRISTIAN STUDENTS TO BE GROUNDED IN THE WORD, GROWING IN CHRIST, AND GIVING BACK TO THE CHURCH.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $161,995
Program Service Revenue $67,032
Investment Income $0
Other Revenue $19,416
TOTAL REVENUE $248,443

Expense Breakdown

Grants Paid $9,444
Salaries & Benefits $170,885
Fundraising Expenses $26,772
Program Expenses $210,237
Other Expenses $96,838
TOTAL EXPENSES $277,167

Year-over-Year Comparison

2023 2022 Change
Revenue $248,443 $135,320 +0.8%
Expenses $277,167 $270,292 +0.0%
Net Income $-28,724 $-134,972 -0.8%
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
9
Independent Members
8
Employees
9
Volunteers
11

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
3
$50,898
Total Directors
9
$50,898
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR KEVIN NEWMAN PRESIDENT 40.00
Officer Director
$23,400 $27,498 $50,898
BARBARA ADAMS BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID BATES BOARD MEMBER 1.00
Director
$0 $0 $0
GREG JOHNSON SECRETARY 1.00
Officer Director
$0 $0 $0
MOGUO SUN BOARD MEMBER 1.00
Director
$0 $0 $0
SHANNON TERHUNE CHAIRMAN 1.00
Officer Director
$0 $0 $0
CONLEY WHITE BOARD MEMBER 1.00
Director
$0 $0 $0
M ANN WRIGHT BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID ZACHARIAS BOARD MEMBER 1.00
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 $248,443 $277,167 $109,831 $-28,724
2022 $322,004 $224,539 $152,537 $97,465
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