HERITAGE BIBLE COLLEGE INC

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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

1971

Legal Domicile

Principal Officer

CHRIS SCHAEFER

Phone

9108923178

Tax Period

2024-07-01 to 2025-06-30

HERITAGE BIBLE COLLEGE INC, founded in 1971, is a small nonprofit in the Education sector that reported $279K in total revenue in fiscal year 2024. Expenses of $348K exceeded revenue, resulting in a 25% operating deficit.

Mission

THE COLLEGE PROVIDES POST-SECONDARY CHRISTIAN EDUCATION TO MEN AND WOMEN IN THE MINISTRY OR THOSE INDIVIDUALS THAT PLAN TO GO INTO THE MINISTRY.

Program Service Accomplishments

Program 1

Expenses: $229,196 Revenue: $216,015

THE COLLEGE TRAINED NUMEROUS STUDENTS FOR ENTRY INTO THE MINISTRY BY OFFERING ASSOCIATE, BACHELOR, AND MASTER'S DEGREES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $63,232

Program Service Revenue $215,191

Investment Income $547

Other Revenue $277

TOTAL REVENUE $279,247

Expense Breakdown

Grants Paid $2,700

Salaries & Benefits $280,842

Fundraising Expenses $47,529

Program Expenses $229,196

Other Expenses $64,483

TOTAL EXPENSES $348,025

Year-over-Year Comparison

	2024	2023	Change
Revenue	$279,247	$291,883	0.0%
Expenses	$348,025	$417,986	-0.2%
Net Income	$-68,778	$-126,103	-0.5%

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

Volunteers

N/A

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

$44,782

Total Directors

$16,309

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEANNE PAGE	CFO	40.00	Officer	$44,782	$0	$44,782
MATT CLARK	TRUSTEE	1.00	Director	$16,309	$0	$16,309
KELVIN BLACKMAN	TRUSTEE	1.00	Director	$0	$0	$0
JAY BOYD	TRUSTEE	1.00	Director	$0	$0	$0
MIKE JACKSON	TRUSTEE	1.00	Director	$0	$0	$0
BEN JUSTESEN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MCGILL	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CAROLYN SPILLERS-CARTER	TRUSTEE	1.00	Director	$0	$0	$0
WESLEY C HAMILTON SR	TRUSTEE	1.00	Director	$0	$0	$0
MARLENE J STRONGS	TRUSTEE	1.00	Director	$0	$0	$0
BRANDON TEACHEY	TRUSTEE	1.00	Director	$0	$0	$0
CAROLYN WEEKS	TRUSTEE	1.00	Director	$0	$0	$0
CHRIS SCHAEFER	PRESIDENT	40.00	Officer	$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	$279,247	$348,025	$83,102	$-68,778
2024	$291,883	$417,986	$133,681	$-126,103
2023	$413,968	$427,875	$262,467	$-13,907
2022	$448,247	$437,475	$272,431	$10,772
2021	$399,189	$386,066	$260,141	$13,123
2020	$457,040	$407,357	$267,565	$49,683
2019	$381,509	$375,861	$198,338	$5,648
2018	$176,426	$814,973	$193,064	$-638,547