The King's College

Summary

The King's College is a Christian liberal arts college in New York City's Financial District founded in 1938. We choose to engage our culture at its heart, providing students with opportunities they won't find elsewhere. The College's Core Curriculum gives students a robust intellectual foundation for principled leadership throughout society. Under the mentorship of our distinguished faculty, students learn to seamlessly integrate their faith and morality into their lives and careers. We are not a college for the faint of heart-we call our students to be good, brave, and ready.


Contact information

Mailing address:
The King's College
56 Broadway
New York, NY 10004

Website: tkc.edu

Phone: 212-659-7200

Email: www.tkc.edu/about/contact/


Organization details

EIN: 131810448

CEO/President: Thomas Gibson

Chairman: Timothy Dunn

Board size: 10

Founder:

Year founded: 1965

Tax deductible: Yes

Fiscal year end: 08/31

Member of ECFA: No

Member of ECFA since:


Purpose

The King's College seeks ambitious students who want to make a difference in the world. The college aims to contribute to American society by producing graduates who command the important intellectual traditions, who think lucidly about the social and political issues that confront them today, who write with force and flair, who speak with eloquence, and who are eager to exchange ideas in open debate with those who espouse different views. The King's College educates students to lead with principle as they aspire to make America better. We prepare students for principled leadership. And nothing else.


Mission statement

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.


Statement of faith

The sole basis of our beliefs is the Bible, God's infallible written Word, the 66 books of the Old and New Testaments. We believe that it was uniquely, verbally and fully inspired by the Holy Spirit, and that it was written without error (inerrant) in the original manuscripts. It is the supreme and final authority in all matters on which it speaks. We accept those areas of doctrinal teaching on which, historically, there has been general agreement among all true Christians. Because of the specialized calling of our movement, we desire to allow for freedom of conviction on other doctrinal matters, provided that any interpretation is based upon the Bible alone, and that no such interpretation shall become an issue which hinders the ministry to which God has called us. We explicitly affirm our belief in basic Bible teachings, as follows: There is one true God, eternally existing in three persons-Father, Son and Holy Spirit-each of whom possesses equally all the attributes of Deity and the characteristics of personality. Jesus Christ is God the living Word, who became flesh through His miraculous conception by the Holy Spirit and His virgin birth. Hence, He is perfect Deity and true humanity united in one person forever. He lived a sinless life and voluntarily atoned for the sins of men by dying on the cross as their substitute, thus satisfying divine justice and accomplishing salvation for all who trust in Him alone. He rose from the dead in the same body, though glorified, in which He lived and died. He ascended bodily into heaven and sat down at the right hand of God the Father, where He, the only mediator between God and man, continually makes intercession for His own. Man was originally created in the image of God. He sinned by disobeying God; thus, he was alienated from his Creator. That historic fall brought all mankind under divine condemnation. Man's nature is corrupted, and he is thus totally unable to please God. Every man is in need of regeneration and renewal by the Holy Spirit. The salvation of man is wholly a work of God's free grace and is not the work, in whole or in part, of human works or goodness or religious ceremony. God imputes His righteousness to those who put their faith in Christ alone for their salvation, and thereby justified them in His sight. It is the privilege of all who are born again of the Spirit to be assured of their salvation from the very moment in which they trust Christ as their Savior. This assurance is not based upon any kind of human merit, but is produced by the witness of the Holy Spirit, who confirms in the believer the testimony of God in His written Word. The Holy Spirit has come into the world to reveal and glorify Christ and to apply the saving work of Christ to men. He convicts and draws sinners to Christ, imparts new life to them, continually indwells them from the moment of spiritual birth and seals them until the day of redemption. His fullness, power and control are appropriated in the believer's life by faith. Every believer is called to live so in the power of the indwelling Spirit that he will not fulfill the lust of the flesh, but will bear fruit to the glory of God. Jesus Christ is the Head of the Church, His Body, which is composed of all men, living and dead, who have been joined to Him through saving faith. God admonishes His people to assemble together regularly for worship, for participation in ordinances, for edification through the Scripture and for mutual encouragement. At physical death the believer enters immediately into eternal, conscious fellowship with the Lord and awaits the resurrection of his body to everlasting glory and blessing. At physical death the unbeliever enters immediately into eternal, conscious separation from the Lord and awaits the resurrection of his body to everlasting judgment and condemnation. Jesus Christ will come again to the earth-personally, visibly and bodily-to consummate history and the eternal plan of God. The Lord Jesus Christ commanded all believers to proclaim the gospel throughout the world and to disciple men of every nation. The fulfillment of that Great Commission requires that all worldly and personal ambitions be subordinated to a total commitment to "Him who loved us and gave Himself for us."

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating70 of 7252 of 87
Fund acquisition rating1 of 7261 of 87
Resource allocation rating268 of 72633 of 87
Asset utilization rating219 of 72523 of 87

Financial ratios

Funding ratiosSector median20182017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
19%3%10%10%8%14%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%2%3%4%3%5%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
10%63%34%35%40%32%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%4%4%4%4%4%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
90%37%66%65%60%68%
 
Operating ratiosSector median20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
86%90%89%88%89%88%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%55%95%100%89%102%
Program output ratio Program output ratio =
Program services /
Total revenue
81%49%84%88%79%90%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%45%5%0%11%-2%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%76%19%1%49%-15%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
12%7%8%8%8%7%
 
Investing ratiosSector median20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.510.741.741.811.812.39
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.011.961.171.151.121.15
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.641.462.042.082.022.75
 
Liquidity ratiosSector median20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
7.263.862.632.472.742.36
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.140.260.380.410.360.42
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.036.113.653.433.782.51
 
Solvency ratiosSector median20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%19%50%56%55%68%
Debt ratio Debt ratio =
Debt /
Total assets
18%1%3%5%6%10%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
143%109%29%24%25%13%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$2,916,446$4,066,377$4,696,178$4,134,326$3,246,929
Receivables, inventories, prepaids$19,944,883$10,826,185$9,093,523$9,642,980$6,473,302
Short-term investments$570,112$569,363$669,722$569,209$580,075
Other current assets$0$0$0$0$0
Total current assets$23,431,441$15,461,925$14,459,423$14,346,515$10,300,306
Long-term investments$0$0$0$0$0
Fixed assets$20,854,201$1,255,575$1,295,635$1,024,730$1,035,491
Other long-term assets$1,632,167$1,421,671$904,237$663,095$517,838
Total long-term assets$22,486,368$2,677,246$2,199,872$1,687,825$1,553,329
Total assets$45,917,809$18,139,171$16,659,295$16,034,340$11,853,635
 
Liabilities20182017201620152014
Payables and accrued expenses$1,536,856$1,132,596$1,163,774$1,064,914$1,014,665
Other current liabilities$4,534,218$4,752,703$4,695,307$4,167,030$3,354,358
Total current liabilities$6,071,074$5,885,299$5,859,081$5,231,944$4,369,023
Debt$250,000$500,000$750,000$1,000,000$1,200,000
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$2,498,818$2,679,980$2,721,571$2,536,535$2,542,642
Total long-term liabilities$2,748,818$3,179,980$3,471,571$3,536,535$3,742,642
Total liabilities$8,819,892$9,065,279$9,330,652$8,768,479$8,111,665
 
Net assets20182017201620152014
Unrestricted$16,886,455($2,178,203)($1,465,099)($2,438,053)($1,997,675)
Temporarily restricted$19,654,992$10,695,973$8,241,136$9,152,341$5,180,435
Permanently restricted$556,470$556,122$552,606$551,573$559,210
Net assets$37,097,917$9,073,892$7,328,643$7,265,861$3,741,970
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$39,073,556$11,349,417$10,645,596$13,131,493$8,898,123
Program service revenue$22,709,758$21,628,811$19,653,729$18,797,370$18,795,147
Membership dues$0$0$0$0$0
Investment income$11,268$6,705$15,322$11,914$18,642
Other revenue$330,530$249,663($179,778)$546,104$87,147
Total other revenue$23,051,556$21,885,179$19,489,273$19,355,388$18,900,936
Total revenue$62,125,112$33,234,596$30,134,869$32,486,881$27,799,059
 
Expenses20182017201620152014
Program services$30,606,150$27,946,187$26,576,519$25,705,654$25,091,185
Management and general$2,234,600$2,386,863$2,380,938$2,189,949$2,010,891
Fundraising$1,260,685$1,159,622$1,113,921$1,059,250$1,257,111
Total expenses$34,101,435$31,492,672$30,071,378$28,954,853$28,359,187
 
Change in net assets20182017201620152014
Surplus (deficit)$28,023,677$1,741,924$63,491$3,532,028($560,128)
Other changes in net assets$0$0$0$0$0
Total change in net assets$28,023,677$1,741,924$63,491$3,532,028($560,128)

Compensation

NameTitleCompensation
Kevin BrownSenior VP of Advancement$327,328
Gregory A ThornburyPresident (part year)$293,630
Frank TorinoVP Finance/Treasurer$194,217
Brian BrenbergEVP/Assoc. Professor of Bus. & Econ.$191,157
Eric BennettVP of Student Development$190,915
Mark HijlehVP of Academic Affairs$188,703
Thomas GibsonExecutive Vice President/President$184,980
Oluwadamilola KabiawuAssistant Professor of Finance$167,586
Kimberly ThornburyVP of Inst. Research$161,193
Paul GladerAssoc. Professor Jour./Media/Entr.$145,597
Anthony BradleyProfessor of Religious Studies$139,010
Joseph LoconteAssociate Professor of History$136,478

Compensation data as of: 8/31/2018


Response from ministry

No response has been provided by this ministry.


History

www.tkc.edu/about/history/


Program accomplishments


Needs