2024-07-15T11:27:51+00:00 2023-08-31 363990892 Capin Crouse LLP 1330 Avenue of the Americas Suite 2 3A New York NY 10019 990 2022-09-01 131810448 The King's College KING 2126597200 112 West 34th Street 18th Floor New York NY 10120 Steven French Interim President 2126597200 2024-07-15 true Jennifer Anderson 999009999 true Daren Daiga P01074795 5055022746 2022 2023-04-26 12:10:37Z X Steven French 112 West 34th Street 18th Floor New York NY 10120 14061966 false X www.tkc.edu X 1938 NY Christian college preparing students for principled leadership around the world. 9 9 298 95 0 0 4530128 2988253 14589198 10221328 13543 176606 128054 240251 19260923 13626438 7670578 5086060 0 0 8847527 8533851 0 0 399155 9853308 10887001 26371413 24506912 -7110490 -10880474 24121511 43396313 12645351 41840352 11476160 1555961 X See Schedule O false true 21366223 5086060 10251962 Education of students - the College had enrollment of 270 degree seeking students for Fall 2022 and 237 degree seeking students for Spring 2023. 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. 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. In 2021, the College entered into an agreement to promote and support King's online degree programs in Politics, Philosophy and Economics; Liberal Studies; Business Management; and Religious and Theological Studies. The first students began a course of studies in April 2022. In April 2023 the College ended its agreement with the external organization and moved all online degree programs back under regular internal operations. 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. 21366223 true true false false false false false false true true false false true true false false true true false false false false false false false false false true true false false false true false false false true true false false false true true true false false false true 569 0 true 298 true false false false false false false false false false false false false X 9 9 false false true false false false false true true false false false true true true true true true true false MD MA MI PA SC X Judy Barringer 2126597200 112 West 34th Street 18th Floor New York NY 10120 Henry Morriello Chairman 7.0 X X 0 0 0 Steven S French Trustee (part year), Interim President 20.0 X X 0 0 0 Stockwell Day Interim President (part year) 0.8 X X 0 0 0 Alexandra Harrison Gaiser Trustee 4.0 X 0 0 0 Andrew G Mills Trustee 4.0 X 0 0 0 Bethany Pickett Shah Trustee 4.0 X 0 0 0 Christopher Ross Trustee 4.0 X 0 0 0 David A Palomares Trustee 0.5 X 0 0 0 Jim Cunningham Trustee (part year) 1.0 X 0 0 0 John D Beckett Trustee (part year) 4.0 X 0 0 0 John Urban Trustee 4.0 X 0 0 0 Marvin Kehler Trustee (part year) 1.0 X 0 0 0 Matthew Dieterle Trustee 4.0 X 0 0 0 Rodney Bergen Trustee (part year) 1.0 X 0 0 0 Soon Chung Trustee (part year) 1.0 X 0 0 0 Stephen Douglass Trustee (part year) 0.8 X 0 0 0 Susie Wilson Trustee 0.5 X 0 0 0 Brian Brenberg EVP/Assoc. Professor of Bus. & Econ. (part year) 50.0 X 193998 0 29161 Bridget Rogers Chief Development Officer (part year) 61.0 X 146261 0 2789 David Leedy VP of Student Development (part year) 40.0 X 74992 0 36083 Frank Torino VP Finance/Treasurer (part year) 60.0 X 115504 0 14152 Henry Bleattler Associate Professor of History and the Humanties/ Interim Provost 50.0 X 128709 0 12379 Jennifer Anderson VP Finance/Treasurer 55.0 X 111259 0 10434 Kimberly Reeve Associate Professor of Business/ Interim Provost (part year) 50.0 X 143348 0 20726 Matthew Parks Chief Academic Officer, Int. Provost (part year) 55.0 X 159740 0 26662 Megan Dishman Chief of Staff & Board Secretary (part year) 50.0 X 94232 0 17769 Bracey Fuenzalida Director of Information Technology 52.0 X 123235 0 51621 David Tubbs Associate Professor of Politics 56.0 X 118834 0 11843 Dawn Fotopulos Professor of Business 60.0 X 125320 0 11890 Oluwadamilola Kabiawu Associate Professor of Finance 50.0 X 167051 0 27241 Paul Glader Professor of Journalism, Media & Entrepreneurship 50.0 X 160297 0 26701 Thomas Gibson Former President 67.5 X 434222 0 49544 2297002 0 348995 24 true true false TKC Operations Inc 960 Quayside Drive Suite 300 New Westminster British Columbia CA V3M6G2 Admissions and marketing services 673500 Savills Studley Inc 399 Park Avenue 11th Floor New York NY 10022 Real Estate Broker Services 126090 Allied Universal 161 Washington Street Conshohocken PA 19428 Security Services 112395 3 1138036 1850217 106869 2988253 Tuition and fees 611600 8606953 8606953 Auxiliary enterprises 611710 1614375 1614375 0 0 0 0 10221328 176708 176708 384566 178104 206462 0 206462 206462 250993 251095 -102 0 -102 -102 9484 6329 3155 3155 30634 30634 0 0 30634 13626438 10251962 0 386223 5086060 5086060 0 0 1048666 613367 392476 42823 6028448 5674799 353649 67006 61436 5165 405 830711 750024 74923 5764 559020 496147 54176 8697 507717 507717 8950 8950 1152443 762003 210405 180035 4556 3865 691 187560 169604 10154 7802 249557 187235 32981 29341 5663950 5183662 403879 76409 174960 167952 4161 2847 40542 36673 3723 146 1911224 1658942 212146 40136 231774 207385 20509 3880 335892 74986 260305 601 Bad debt expense 160909 160909 Dues & subscriptions 52537 51708 650 179 Equipment 13131 12567 474 90 191299 167808 23491 0 24506912 21366223 2741534 399155 3983753 762492 1655335 1728430 650790 18522 1056822 892120 0 0 14484 10262 946346 49627 18012536 3267135 14976267 14745401 592776 616756 0 0 244938 24572703 24121511 43396313 1349346 3488258 1513064 0 1914573 8528537 9000000 1254404 27437521 12645351 41840352 X 8661993 734874 2814167 821087 11476160 1555961 24121511 43396313 -10880474 6690 953585 0 X false true X true true true X 3938560 6486740 7050102 4530128 2988253 24993783 0 0 3938560 6486740 7050102 4530128 2988253 24993783 3158436 21835347 1033127 183586 976803 1085844 561274 3840634 789 789 93092 71260 67462 21896 30634 284344 29119550 0 0.7499 0.3325 X Schedule A, Part II The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. Schedule A, Part II, Line 10 Other Income DESCRIPTION - MISC INCOME, COLUMN A - 93092.0, COLUMN B - 71260.0, COLUMN C - 67462.0, COLUMN D - 21896.0, COLUMN E - 30634.0, COLUMN F - 284344.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 484100 20563 14771 489892 483006 1389 295 484100 482932 94 20 483006 488981 6680 12729 482932 476964 12017 488981 0.0 1.0 0.0 false false 9338800 9338800 6361333 40000 1277632 5123701 903132 844973 58159 1300221 1090873 209348 69050 53657 15393 14745401 Operating lease - right-of-use assets 24341983 Deposits 230720 24572703 Operating lease liabilities 27407792 Annuities payable 29729 Deferred rent liability 0 27437521 Schedule D, Part V, Line 4 Intended uses of endowment funds Proceeds from the endowment funds are used to fund scholarships for students based on criteria set up when the endowment fund was established. true true true true true true true false false false false false false false false true true true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY 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. This included participating in several college fairs that were part of the National Hispanic College Fair Circuit and Infinite Scholars. A clause is included in the College's catalog, and also on the homepage of its website effective May 2020. A statement of non-discrimination is also included in the email signature of recruitment emails to prospective students. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT 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 Employee Retention Credit as part of the CARES Act funding. Schedule E, Part I, Line 6(b) REVOCATION OR SUSPENSION OF GOVERNMENTAL AID OR ASSISTANCE Due to the cessation of classes beginning with Fall 2023, in September 2023, the College received notification from the US Department of Education that it was no longer eligible to participate in Title IV Federal Student Aid programs effective August 31, 2023. true Scholarships and financial aid 293 5006560 Housing grants 28 79500 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. 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 true true X X true false false false false false false false false Brian Brenberg EVP/Assoc. Professor of Bus. & Econ. (part year) 193823 0 0 0 175 0 3834 0 25327 0 223159 0 0 0 Matthew Parks Chief Academic Officer, Int. Provost (part year) 159531 0 0 0 209 0 3143 0 23519 0 186402 0 0 0 Kimberly Reeve Associate Professor of Business/ Interim Provost (part year) 143090 0 0 0 258 0 2860 0 17866 0 164074 0 0 0 Oluwadamilola Kabiawu Associate Professor of Finance 166799 0 0 0 252 0 3295 0 23946 0 194292 0 0 0 Paul Glader Professor of Journalism, Media & Entrepreneurship 160101 0 0 0 196 0 3182 0 23519 0 186998 0 0 0 Bracey Fuenzalida Director of Information Technology 122975 0 0 0 260 0 2445 0 49176 0 174856 0 0 0 Thomas Gibson Former President 135732 0 0 0 298490 0 0 0 49544 0 483766 0 0 0 Schedule J, Part I, Line 1a Travel for companions On occasion, President Gibson's wife accompanied him as a volunteer representative of the College at specific events when appropriate. The travel for companions was for a business purpose and was not included in taxable income. Schedule J, Part I, Line 1a Housing allowance or residence for personal use As a condition of employment, and as a convenience to the College, a housing residence was provided to Thomas Gibson, President through August 2022. This was not included in taxable compensation. Pursuant to Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. David Leedy met the qualifications for and received a ministerial housing allowance during the tax year. Schedule J, Part I, Line 4a Severance or change-of-control payment During calendar year 2022, President Thomas Gibson received severance of $298,192. Burnaby Investments LLC Greater than 35% controlled entity of a substantial donor, family member of Soon Chung, Trustee Bridge loan for general operations X 2000000 1914573 false true true 1914573 TKC Operations Inc Greater than 35% controlled entity of a substantial donor, family member of Soon Chung, Trustee 692565 Payment for admissions and marketing services as well as online program support and fundraising support true X 5 106869 Selling cost 0 false true false Schedule M, Part I 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 III, Line 3 Significant changes in program services The College operated classes through August 2023. In July 2023, the Board of Trustees announced the college would not be offering classes beginning with the Fall 2023 semester. As a result, most of the staff and faculty were laid off at the end of July 2023. Form 990, Part VI, Line 4 Significant changes to organizational documents The bylaws were amended to reflect the termination of the collaboration agreement with Primacorp Ventures. Consequently, the provision allowing Primacorp Ventures to nominate several board members was removed, leading to the resignation of existing board members associated with the collaboration. Form 990, Part VI, Line 11b Review of form 990 by governing body 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 VP Finance/Treasurer. 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, Line 12c Conflict of interest policy 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, Line 15a Process to establish compensation of top management 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. Form 990, Part VI, Line 15b Process to establish compensation of other employees 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, Line 19 Required documents available to the public 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 2022 whereas most of the information provided in the Form 990 is for the fiscal year (9/1/22 - 8/31/23). Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Misc revenue - Total Revenue: 30634, Related or Exempt Function Revenue: 30634, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; 102 SPE LLC 102 Greenwich Street New York NY 10006 131810448 Holds Property and Debt NY 0 14467750 The King's College Northeastern Bible College 112 West 34th Street 18th Floor New York NY 10120 221546174 College NJ 501(c)(3) 2 The King's College true New York Foundation for Leadership 818 West 7th Street Fleet 1004 Los Angeles CA 90017 460470325 Supporting Org CA 501(c)(3) Type I The King's College true false false false false false false false false false false false false false false false false false false false