2021-07-06T12:48:50-05:00 2020-08-31 363990892 Capin Crouse LLP 1330 Avenue of the Americas Suite 23A New York NY 10019 990 2019-09-01 131810448 The King's College KING 2126597200 56 Broadway New York NY 10004 Frank Torino VP Finance/Treasurer 2126597200 2021-07-06 1 Ted R Batson Jr P00721951 5055022746 2019 2022-09-23 18:48:47Z Thomas Gibson 56 Broadway New York NY 10004 29723117 0 X www.tkc.edu X 1938 NY Christian college preparing students for principled leadership around the world. 10 9 384 179 0 0 3938560 6486740 22690104 22299040 49402 23979 264504 -821171 26942570 27988588 10620492 10754962 0 0 11004222 10687371 11050 0 1110833 11827345 10480070 33463109 31922403 -6520539 -3933815 38943152 33688942 8375287 7053213 30567865 26635729 X See Schedule O 0 0 28439672 10754962 22374212 Education of students - the College had enrollment of 520 degree seeking students for Fall 2019 and 466 degree seeking students for Spring 2020.Through its commitment to the truths of Christianity and a biblical worldview, The King's College seeks to transform society by preparing students for careers in which they help to shape and eventually to lead strategic public and private institutions, and by supporting faculty members as they directly engage culture through writing and speaking publicly on critical issues.(description continues on Schedule O)At The King's College, we seek to understand society, to strengthen and apply our intellect, and to develop Christian character, so that we may challenge, change, and improve our culture. For four years, our students are shaped by a relevant and sophisticated biblical worldview. Students become persuasive, influential graduates who communicate with clarity and force and who succeed in challenging professions. This is accomplished through our core curriculum and major courses leading to degrees in Politics, Philosophy and Economics; Media, Culture and the Arts; Finance; Business Management; Religious and Theological Studies; English; Philosophy; Humanities and Journalism, Culture and Society.We educate young leaders to seamlessly integrate their faith, ethics, and morality into their lives and careers. Students are immersed in challenging academic and spiritual study that demands thinking, communicating, and problem-solving with the mind, heart, and soul. We require engagement with complex ideas to guide the strategic institutions of society - government, commerce, law, media, civil society, education, the arts, and the Church. We participate in a demanding curriculum and present unique opportunities to students in the heart of New York City. We are not a college for the faint of heart - we call our students to be good, brave, and ready. 28439672 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 885 0 1 384 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 9 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 KY MA MD SC X Judy Barringer 2126597200 56 Broadway New York NY 10004 X Kevin Brown Senior VP of Advancement (part year) 65.00 X 215913 0 77240 Thomas Gibson President 63.00 X X 184434 0 75701 Brian Brenberg EVP/Assoc. Professor of Bus. & Econ. 50.00 X 145572 0 55840 Mark Hijleh Provost 50.00 X 171520 0 26922 Frank Torino VP Finance/Treasurer 60.00 X 169933 0 23233 Oluwadamilola Kabiawu Assistant Professor of Finance 52.00 X 145897 0 26625 Anthony Bradley Professor of Religious Studies 50.00 X 152060 0 11891 Paul Glader Assoc. Prof. of Journalism & Media 50.00 X 133160 0 25979 Joseph Loconte Assoc. Prof. of History (part year) 60.00 X 123825 0 8814 Eric Bennett VP of Student Dev. (part year) 60.00 X 100657 0 27577 Kimberly Thornbury VP of Inst. Research (part year) 40.00 X 106826 0 16761 Timothy Dunn Chairman 0.80 X X 0 0 0 Henry Morriello Trustee/Secretary 3.00 X X 0 0 0 Stephen Douglass Trustee 0.80 X 0 0 0 David A Palomares Trustee 0.70 X 0 0 0 Launa Stayer-Maloney Trustee 1.30 X 0 0 0 James Nathan Bond Trustee 1.00 X 0 0 0 Lisa Troutt Trustee 0.50 X 0 0 0 David L Bahnsen Trustee 0.80 X 0 0 0 Susie Wilson Trustee 0.50 X 0 0 0 1649797 0 376583 26 0 1 0 International Benefits Administrators L 100 Garden City Plaza Suite 110 Garden City NY 11530 Benefits Administration 297480 MSVT LLC 63 Emerald Street Suite 601 Keene NH 03431 Academic Consulting 231000 Allied Universal 161 Washington Street Suite 600 Conshohocken PA 19428 Security Services 174707 Royal Renovators Inc 2380 Ralph Ave Brooklyn NY 11234 Building Renovations 130000 Salvatore Caruso 166-47 23rd Ave Whitestone NY 11357 Building Renovations 105994 5 4700 2370575 4111465 35304 6486740 Tuition and fees 611600 18356248 18356248 Auxiliary enterprises 611710 3942792 3942792 22299040 24189 24189 159397 1055714 -896317 -896317 -896317 668998 669208 -210 -210 -210 3125 4700 3151 -26 -26 10368 6456 3912 3912 71260 71260 71260 27988588 22374212 0 -872364 10754962 10754962 974225 354165 382201 237859 8083698 6984428 624989 474281 88613 75775 9223 3615 930119 832784 54990 42345 610716 501136 65468 44112 63505 63495 10 90064 90064 978641 847370 90667 40604 78072 18640 59432 465601 407013 16681 41907 468307 392636 39558 36113 6485218 5990162 374828 120228 335805 279966 4507 51332 64647 56493 4822 3332 54229 46637 5748 1844 482227 453252 21938 7037 283116 77294 204382 1440 Bad debts expense 231900 231900 Equipment 72169 68847 2513 809 Dues and subscriptions 67171 55572 7644 3955 259398 242540 16848 10 31922403 28439672 2371898 1110833 1446685 1692811 2644283 2133433 12212763 7430845 415368 518405 16090 18316 399106 526649 22719128 2252531 20809055 20466597 583258 591049 416544 310837 38943152 33688942 1075211 1373795 4909244 3104572 2390832 2574846 8375287 7053213 X 17057053 17473795 13510812 9161934 30567865 26635729 38943152 33688942 X -3933815 1679 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 488981 6680 12729 482932 476964 12017 488981 476964 648 648 476964 476964 84 84 476964 476464 500 48 48 476964 1.00000 0 0 9338800 9338800 10891564 700416 10191148 903132 496022 407110 1473358 972422 500936 112274 83671 28603 20466597 Annuities payable 40851 Deferred rent liability 2533995 2574846 Part V, Line 4: Proceeds from the endowment funds are used to fund scholarships for students based on criteria set up when the endowment fund was established. Part V, lines 2a-2c In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 8/31/2020. To date, Schedule D has not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions Part V, column (b): The prior year endowment activity has been updated to reflect corrected balances per the audited financial statements. 1 0 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The College follows a racially nondiscriminatory policy as to students in its programs. The College's promotional activities for its programs are designed to inform all racial segments in the general communities within the area of the availability of the College. The College participated in the 'College Access Fair for African-American/Black and Hispanic/Latinx students and families' in the fall of 2020. The College placed a media advertisement in August 2020 of the nondiscrimination policy. A clause is also included in the College's catalog, and on the homepage of its website effective May 2020. Schedule E, Part I, Line 6 The King's College was approved on June 26, 2008 to participate in Title IV Federal Student Financial Aid programs. The King's College also received funding from the Payroll Protection Program and the Higher Education Emergency Relief Funds as part of the CARES Act funding. Line 2 - Explanation of Statement of Policy The statement of nondiscriminatory policy toward students was inadvertently not included in all of the brochures distributed during the College's filing year. However, it was included in the catalogue and in other written communications. The College is in the process of adding the policy to all of its brochures and this question will be answered "yes" on the 8/31/2021 tax return. 1 Scholarships and financial aid 513 10458098 HEERF grants 181 190692 Housing grants 36 106172 Part I, Line 2: The King's College continuously monitors the academic progress of students receiving scholarship and financial aid funds. All scholarships and financial aid and housing grants are applied directly to the student accounts and therefore, no cash changes hands. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Kevin Brown Senior VP of Advancement (part year) 179663 0 0 0 36250 0 3705 0 73535 0 293153 0 0 0 Thomas Gibson President 183659 0 0 0 775 0 0 0 75701 0 260135 0 0 0 Brian Brenberg EVP/Assoc. Professor of Bus. & Econ. 145382 0 0 0 190 0 2991 0 52849 0 201412 0 0 0 Mark Hijleh Provost 171090 0 0 0 430 0 3551 0 23371 0 198442 0 0 0 Frank Torino VP Finance/Treasurer 169010 0 0 0 923 0 3530 0 19703 0 193166 0 0 0 Oluwadamilola Kabiawu Assistant Professor of Finance 145690 0 0 0 207 0 3033 0 23592 0 172522 0 0 0 Anthony Bradley Professor of Religious Studies 151864 0 0 0 196 0 3077 0 8814 0 163951 0 0 0 Paul Glader Assoc. Prof. of Journalism & Media 132830 0 0 0 330 0 2608 0 23371 0 159139 0 0 0 Part I, Line 1a Gross-up payments are made to Joseph Loconte, Associate Professor of History, in relation to taxable travel reimbursements. Gross up payments are made to Kevin Brown, Senior VP of Advancement, in relation to taxable housing compensation. These amounts are reported in taxable compensation. As a condition of employment, and as a convenience to the College, a housing residence is provided to Thomas Gibson, President and Brian Brenberg, EVP/Assoc. Professor of Bus. & Econ., for his role as Residential Faculty Advisor. This was not included in taxable compensation. X 3 35304 Selling price 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part III, Line 1 Through its commitment to the truths of Christianity and a biblical worldview, The King's College seeks to transform society by preparing students for careers in which they help to shape and eventually lead strategic public and private institutions, and by supporting faculty members as they directly engage culture through writing and speaking publicly on critical issues. The King's College seeks to transform society as it educates students for the long-term goal of leading strategic public and private institutions by providing a foundation in classic social and political theory, Western history, economic analysis, philosophical inquiry, logic, abstract thought, theology, and the disciplines of writing and the spoken word. The College aims to equip students with life-long habits of mind, intellectual skills, and enduring motivations, rather than merely vocational skills or pre-professional training. We recognize the need to educate students as whole persons with the moral astuteness, intellectual insight, and personal discipline to become autonomous (literally, law-governed) adults. To that end, we aspire to a form of education that integrates classroom instruction, extra-curricular commitments, and service to the larger community. Even though our program is not in spirit vocational or pre-professional, we recognize that our graduates must be prepared to enter an economy and a society that already exists and cannot be made to order. To that end, we are committed to equipping students with a thorough understanding of the organization of contemporary society and the various professions that influence the "strategic institutions" (government, business, law, the media, civil society, education, the arts, and the church); to give them realistic maps of how careers in those fields typically advance; and to acquaint them with the proximate steps, whether through further education or entry-level positions, that will set them on a course towards longer-term success. The King's College serves students who seek a rigorous undergraduate education that is rooted in the Christian liberal arts tradition. The College is open to all students, regardless of their religious affiliations. The College is also committed to supporting faculty members as they provide a rigorous undergraduate education to students and also as they directly engage culture through writing and speaking publicly on critical issues. Form 990, Part VI, Section A, line 2 Launa Stayer-Maloney and David A. Palomares - Family relationship Form 990, Part VI, Section B, line 11b The first draft of the 990 will be reviewed by the Controller. A revised draft will then be submitted for review to the College's CFO. Once the above referenced individuals review and approve the draft 990, and any required changes are made, a final draft will be provided to the Audit Committee of the Board of Trustees, which has been delegated by the Board of Trustees, to review the Form 990. After review by the Audit Committee, a copy will be provided to the full Board of Trustees as well. The names and addresses of contributors are removed from Schedule B in the copy provided to the Audit Committee and Board of Trustees because the information is confidential. Form 990, Part VI, Section B, line 12c The conflict of interest policy is circulated yearly in connection with the annual meeting. The Board of Trustees, Officers, and Key Employees are asked to review the policy and provide updated information, disclose any potential conflicts of interest, and sign the form. The Board Secretary monitors and keeps track of the disclosures made. Any conflicts of interest are reported to the Governance Committee of the Board of Trustees, and are reflected in the minutes. If an issue that involves a conflict of interest were to arise at a board meeting, the interested person would abstain from voting. Form 990, Part VI, Section B, line 15 Line 15a - Compensation Process for Top Official The process for determining compensation for the President includes a review by the full Board, use of comparability data, and documentation of the deliberation and decision in the Board minutes. 15b - Compensation Process for Officers Final approval of Other Officer/Key Employee salaries is the responsibility of the Board of Trustees. Salary recommendations are initially prepared by the President based on his/her assessment of performance. In addition, the President and Board annually review compensation survey data collected by the College and University Professional Association for Human Resources (CUPA-HR) which reports higher education compensation levels on a national and regional basis. The deliberation and approval of the compensation is documented in the minutes of the Board. Form 990, Part VI, Section C, line 19 The King's College makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VII, Section A Calendar Year Reporting of Compensation The compensation data reflected in Part VII is reported based on the calendar year 2019 whereas most of the information provided in the Form 990 is for the fiscal year (9/1/19 - 8/31/20). Form 990, Part XI, line 9: Loss on beneficial interest in perpetual trust 1,679. Northeastern Bible College 56 Broadway New York NY 10004 221546174 College NJ 501(c)(3) Line 2 The King's College 1 New York Foundation for Leadership 818 West 7th Street Fleet 1004 Los Angeles CA 90017 460470325 Supporting Org CA 501(c)(3) Line 12a, I The King's College 1 Charitable Remainder Unitrust (1) Trust PA The King's College T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0