2025-03-14T12:23:59-05:00 2024-04-30 390859910 BAKER TILLY ADVISORY GROUP LP 1 HIGHWOOD DRIVE TEWKSBURY MA 01876 990 2023-05-01 056015988 NORTHPOINT BIBLE COLLEGE NORT 9784783450 320 S MAIN STREET HAVERHILL MA 01835 DR DANIEL HOWELL PROVOST & CHIEF ACADEMIC OFFIC 9784783450 2025-03-13 1 1 MATTHEW KALIL CPA MBA P01517069 9785575300 2025-03-13 2023 2025-03-06 01:10:19Z REV TIFF SHUTTLESWORTH 320 S MAIN STREET HAVERHILL MA 01835 4631054 0 X WWW.NORTHPOINT.EDU X 1941 MA MINISTRY EDUCATION AND TRAINING 21 21 127 23 0 0 1727222 1778589 2486826 2694430 32841 26707 71673 0 4318562 4499726 898426 713655 0 0 2648852 2403695 0 0 102737 2949818 2800223 6497096 5917573 -2178534 -1417847 17395570 17038200 1974067 2984292 15421503 14053908 X NORTHPOINT BIBLE COLLEGE EXISTS TO TEACH AND TRAIN STUDENTS FOR PENTECOSTAL MINISTRY, IN FULFILLMENT OF THE GREAT COMMISSION. 0 0 3847435 713655 2694430 NORTHPOINT BIBLE COLLEGE'S ACCOMPLISHMENTS DURING THE FISCAL YEAR INCLUDED - 1 - PROVIDING EDUCATIONAL SERVICES AT THE CERTIFICATE, ASSOCIATES, BACHELORS, AND MASTER'S LEVEL TO 132 STUDENTS IN PREPARATION FOR VOCATIONAL MINISTRY. NORTHPOINT GRADUATED 33 STUDENTS.2 - STARTED NEW 2 GRADUATE LEVEL COHORTS IN PASTORAL LEADERSHIP THAT ARE BEING TAUGHT IN SPANISH.3 - STARTED A NEW GRADUATE SITE FOR HISPANIC STUDENTS IN LAREDO, TX4 - STARTED A NEW UNDERGRADUATE SITE IN CINCINNATI, OHIO 3847435 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 127 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 0 1 1 0 0 MA X THE ORGANIZATION 9784783450 320 S MAIN STREET HAVERHILL MA 01835 REV CHRIS HURTADO TRUSTEE 1.00 X 0 0 0 REV PASCO MANZO TRUSTEE 1.00 X 0 0 0 DR DUANE DURST TRUSTEE 1.00 X 0 0 0 DR GILBERTO VELEZ TRUSTEE 1.00 X 0 0 0 REV DAN MCLAUGHLIN TRUSTEE 1.00 X 0 0 0 REV MANUEL ALVAREZ TRUSTEE 1.00 X 0 0 0 DR WALKER TZENG TRUSTEE 1.00 X 0 0 0 REV DAN ABBATIELLO TRUSTEE 1.00 X 0 0 0 REV PAUL YACOVONE TRUSTEE 1.00 X 0 0 0 REV DENNIS MARQUARDT TRUSTEE 1.00 X 0 0 0 REV JARED BERRY TRUSTEE 1.00 X 0 0 0 REV MARK EVANS TRUSTEE 1.00 X 0 0 0 MARK BALDWIN TRUSTEE 1.00 X 0 0 0 REV KAREN RYDWANSKY TRUSTEE 1.00 X 0 0 0 REV TRAVIS NICHELSON TRUSTEE 1.00 X 0 0 0 MRS RITA LAMBERGS-TOMES TRUSTEE 1.00 X 0 0 0 REV CHRIS DELMADGE SECRETARY 1.00 X X 0 0 0 REV ED SHEARER TREASURER 1.00 X X 0 0 0 REV NICK FATATO VICE CHAIR 1.00 X X 0 0 0 REV ROBERT REEVES CHAIR 1.00 X X 0 0 0 REV TIFF SHUTTLESWORTH PRESIDENT 1.00 X X 0 0 0 DR DANIEL HOWELL PROVOST/CHIEF ACADEMIC OFFICER 40.00 X 66836 0 41458 PAMELA PERRON CFO (UNTIL 10.30.23) 40.00 X 88335 0 2877 155171 0 44335 0 0 0 0 0 554478 1224111 1778589 TUITION & RELATED FEES 611710 2694430 2694430 2694430 13373 13373 144662 131328 13334 13334 13334 4499726 2694430 0 26707 713655 713655 168025 79376 85262 3387 1860961 1438500 408576 13885 29812 23674 5942 196 263026 197034 63763 2229 81871 61305 19871 695 31240 31240 122846 122846 4953 4953 43036 43036 118522 47444 64293 6785 233618 179169 54449 810812 440242 342686 27884 35278 23403 8615 3260 65071 65071 597796 466281 101625 29890 123444 12495 104785 6164 BAD DEBT 248179 248179 DUES & MEMBERSHIP 112730 52747 56983 3000 BANK FEES 102827 5354 95575 1898 FOOD COSTS 60492 59518 405 569 89379 47238 39246 2895 5917573 3847435 1967401 102737 294979 344037 80059 261861 282378 50000 50000 14319 49238 23374640 7791895 16036556 15582745 657796 729802 17395570 17038200 841227 801274 13418 50865 1744331 450000 250000 531600 137822 137822 1974067 2984292 X 14412987 12774505 1008516 1279403 15421503 14053908 17395570 17038200 -1417847 50252 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 707796 72006 779802 703509 4287 707796 713018 -9509 703509 570331 142687 713018 608608 -36531 1746 570331 0.47210 0.52790 0 0 4377600 4377600 17058387 6000980 11057407 1938653 1790915 147738 15582745 REFUNDABLE ADVANCE 137822 137822 X 3824118 50252 -7252 43000 3781118 4953 713655 718608 4499726 5191713 0 5191713 4953 720907 725860 5917573 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED WITH CONTRIBUTIONS TO PROVIDE SCHOLARSHIP AND FINANCIAL AID TO STUDENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING ANY FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE COLLEGE CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND IS CLASSIFIED AS NET ASSETS WITH DONOR RESTRICTIONS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE COLLEGE IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE COLLEGE MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS; THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE COLLEGE AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE COLLEGE; AND THE INVESTMENT POLICIES OF THE COLLEGE. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE A FIXED STREAM OF INCOME WHILE ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE COLLEGE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST, DIVIDENDS, AND NET RENTAL INCOME). THE COLLEGE HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE COLLEGE HAS A POLICY OF REINVESTING 25% OF THE INCOME GENERATED BY THE ENDOWMENT FUND'S INVESTMENTS INTO THE ENDOWMENT. IN ESTABLISHING THIS POLICY, THE COLLEGE CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE COLLEGE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR-IMPOSED RESTRICTIONS REQUIRE THE COLLEGE TO RETAIN AS A FUND OF PERPETUAL DURATION. THERE WERE NO SUCH DEFICIENCIES AS OF APRIL 30, 2023. PART X, LINE 2: THE COLLEGE IS A NONPROFIT COLLEGE AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON TRADE OR BUSINESS PROFITS GENERATED BY ACTIVITIES RELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. THE COLLEGE MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES FOR PROFITS GENERATED FROM TRADE OR BUSINESS ACTIVITIES UNRELATED TO THE COLLEGE'S EXEMPT FUNCTION. AS OF APRIL 30, 2024, MANAGEMENT BELIEVES THAT THE COLLEGE HAS NOT GENERATED ANY UNRELATED BUSINESS TAXABLE INCOME. THE COLLEGE ASSESSES THE RECORDING OF UNCERTAIN TAX POSITIONS BY EVALUATING THE MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT REQUIREMENTS A TAX POSITION MUST MEET BEFORE BEING RECOGNIZED AS A BENEFIT IN THE FINANCIAL STATEMENTS. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNCERTAIN TAX POSITIONS AS A COMPONENT OF INCOME TAX EXPENSE, IF ANY, IN ITS STATEMENTS OF ACTIVITIES. THE COLLEGE HAS NOT RECOGNIZED ANY LIABILITIES FOR UNCERTAIN TAX POSITIONS OR UNRECOGNIZED BENEFITS AS OF APRIL 30, 2024. THE COLLEGE DOES NOT EXPECT ANY MATERIAL CHANGE IN UNCERTAIN TAX BENEFITS WITHIN THE NEXT 12 MONTHS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST EXPENSE -7,252. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AWARDED TO STUDENTS 713,655. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AWARDED TO STUDENTS 713,655. INTEREST EXPENSE 7,252. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NORTHPOINT'S NONDISCRIMINATORY POLICY IS STATED IN THE SCHOOL CATALOG, WHICH IS AVAILABLE ON THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL AWARDS, INCLUDING GRANTS, CONTRACTS AND SIMILAR AGREEMENTS ENTERED INTO DIRECTLY BETWEEN THE COLLEGE AND DEPARTMENTS OF THE FEDERAL GOVERNMENT. FOR THE TWELVE MONTHS ENDED APRIL 30, 2024, THE COLLEGE REPORTED EXPENDITURES OF FEDERAL AWARDS RELATING TO FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT, FEDERAL FAMILY EDUCATION LOANS, FEDERAL WORK STUDY PROGRAM AND FEDERAL PELL GRANT PROGRAM. TOTAL FEDERAL EXPENDITURES FOR THE YEAR WERE APPROXIMATELY $780,000. 1 SCHOLARSHIPS AND FINANCIAL AID 75 713655 0 LOST LAMB EVANGELISTIC (LLE) REV. TIFF SHUTTLESWORTH IS THE PRESIDENT OF LLE & NORTHPOINT BIBLE COLLEGE TO ASSIST WITH THE ORGANIZATION'S DAILY OPERATIONS X 2000000 1744331 0 1 1 1744331 SCHEDULE L, PART II, LINE ONE: THE LENDER GRANTED AN INTEREST-FREE LOAN TO THE ORGANIZATION. THE ACTUAL BALANCE DUE ON THIS LOAN AT THE END OF THE FISCAL YEAR IS $2,000,000. THE BALANCE DUE REFLECTED ON SCHEDULE L, PART II, LINE 1 IN COLUMN F OF $1,744,331 IS SHOWN NET OF A PRESENT VALUE DISCOUNT OF $255,669. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE INTERNAL FINANCE COMMITTEE AND THE BOARD OF ADMINISTRATION PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY EVALUATING SITUATIONS AS THEY ARISE FOR POSSIBLE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES STUDIES COST OF LIVING IN LOCAL AREA AS WELL AS COMPENSATION SURVEYS FOR HIGHER EDUCATION INSTITUTIONS. THE BOARD OF ADMINISTRATION MAKES BUDGET RECOMMENDATIONS THAT THE BOARD OF TRUSTEES APPROVES. FORM 990, PART VI, SECTION C, LINE 19 ALL COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE HELD IN THE FINANCE OFFICE UNDER THE CUSTODY OF THE COMPTROLLER. SHOULD A PUBLIC REQUEST BE MADE, THE VALIDITY OF THE REQUEST WOULD BE REVIEWED BY THE BOARD OF ADMINISTRATION BEFORE THE INFORMATION IS RELEASED. FORM 990; PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT FOR THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED DURING THE YEAR.