Biola University 
Summary
Biola University is a private Christian university in Southern California. The vision of Biola University is to be identified among the world's foremost Christ-centered universities - a community abiding in truth, abounding with grace and compelled by Christ's love to be a relevant and redemptive voice in a changing world.
Contact information
Mailing address:
Biola University
13800 Biola Ave
La Marida, CA 90639
Website: biola.edu
Phone: 562-903-6000
Email: admissions@biola.edu
Organization details
EIN: 950549600
CEO/President: Barry H. Corey
Chairman: Wayne Lowell
Board size: 26
Founder: Lyman Stewart
Year founded: 1946
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
For over 109 years, Biola has stood out as an institution grounded in biblically centered education, intentional spiritual development, and career preparation, where all faculty, staff and students are professing Christians. With more than 145 academic programs through its six schools, Biola offers degrees ranging from bachelor of arts to doctoral degree.
Mission statement
The mission of Biola University is biblically centered education, scholarship and service-equipping men and women in mind and character to impact the world for the Lord Jesus Christ.
Statement of faith
The Articles of Faith, presented here as originally conceived by the founders of the organization, have been and continue to be the stated theological position of Biola University and are an essential part of the Articles of Incorporation of the university. Where "man" is used referring to the human race it includes both genders. Inasmuch as the university is interdenominational and yet theologically conservative, the Articles of Incorporation contain a doctrinal statement which is given below: The Bible, consisting of all the books of the Old and New Testaments, is the Word of God, a supernaturally given revelation from God Himself, concerning Himself, His being, nature, character, will and purposes; and concerning man, his nature, need and duty and destiny. The Scriptures of the Old and New Testaments are without error or misstatement in their moral and spiritual teaching and record of historical facts. They are without error or defect of any kind. There is one God, eternally existing and manifesting Himself to us in three Persons: Father, Son and Holy Spirit. Our Lord Jesus was supernaturally conceived by the power of the Holy Spirit and born of a virgin - Mary, a lineal descendant of David. He lived and taught and wrought mighty works and wonders and signs exactly as is recorded in the four Gospels. He was put to death by crucifixion under Pontius Pilate. God raised from the dead the body that had been nailed to the cross. The Lord Jesus after His crucifixion showed Himself to be alive to His disciples, appearing unto them by the space of 40 days. After this, the Lord Jesus ascended into heaven, and the Father caused Him to sit at His right hand in the heavenly places, far above all rule and authority and power and dominion, and every name that is named, not only in this world, but also in that which is to come, and put all things in subjection under His feet, and gave Him to be Head over all things to the Church. The Lord Jesus, before His incarnation, existed in the form of God and of His own choice laid aside His divine glory and took upon Himself the form of a servant and was made in the likeness of men. In His pre-existent state, He was with God and was God. He is a divine person possessed of all the attributes of Deity, and should be worshiped as God by angels and man. "In Him dwelleth all the fullness of the Godhead bodily." All the words that He spoke during His earthly life were the words of God. There is absolutely no error of any kind in them, and by the words of Jesus Christ the words of all other teachers must be tested. The Lord Jesus became in every respect a real man, possessed of all the essential characteristics of human nature. By His death on the cross, the Lord Jesus made a perfect atonement for sin, by which the wrath of God against sinners is appeased and a ground furnished upon which God can deal in mercy with sinners. He redeemed us from the curse of the law by becoming a curse in our place. He who Himself was absolutely without sin was made to be sin on our behalf that we might become the righteousness of God in Him. The Lord Jesus is coming again to his earth, personally, bodily, and visibly. The return of our Lord is the blessed hope of the believer, and in it God's purposes of grace toward mankind will find their consummation. The Holy Spirit is a person, and is possessed of all the distinctively divine attributes. He is God. Man was created in the image of God, after His likeness, but the whole human race fell in the fall of the first Adam. All men, until they accept the Lord Jesus as their personal Savior, are lost, darkened in their understanding, alienated from the life of God through the ignorance that is in them, hardened in heart, morally and spiritually dead through their trespasses and sins. They cannot see, nor enter the Kingdom of God until they are born again of the Holy Spirit. Men are justified on the simple and single ground of the shed blood of Christ and upon the simple and single condition of faith in Him who shed the blood, and are born again by the quickening, renewing, cleansing work of the Holy Spirit, through the instrumentality of the Word of God. All those who receive Jesus Christ as their Savior and their Lord, and who confess Him as such before their fellow men, become children of God and receive eternal life. They become heirs of God and joint-heirs with Jesus Christ. At death their spirits depart to be with Christ in conscious blessedness, and at the Second Coming of Christ their bodies shall be raised and transformed into the likeness of the body of His glory. All those who persistently reject Jesus Christ in the present life shall be raised from the dead and throughout eternity exist in the state of conscious, unutterable, endless torment of anguish. The Church consists of all those who, in this present dispensation, truly believe in Jesus Christ. It is the body and bride of Christ, which Christ loves and for which He has given Himself. There is a personal devil, a being of great cunning and power: "The prince of the power of the air," "The prince of this world," "The god of this age." He can exert vast power only so far as God suffers him to do so. He shall ultimately be cast into the lake of fire and brimstone and shall be tormented day and night forever.
Transparency grade
C
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Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 419 of 726 | 60 of 87 |
| Fund acquisition rating | | 371 of 727 | 42 of 87 |
| Resource allocation rating | | 449 of 727 | 57 of 87 |
| Asset utilization rating | | 369 of 726 | 49 of 87 |
Financial ratios
| Funding ratios | Sector median | 2018 | 2017 | 2016 | 2015 | 2014 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 19% | 19% | 9% | 13% | 11% | 24% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 1% | 2% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 10% | 6% | 13% | 9% | 14% | 6% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 1% | 1% | 2% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 90% | 94% | 87% | 91% | 86% | 94% |
| Operating ratios | Sector median | 2018 | 2017 | 2016 | 2015 | 2014 |
Program expense ratio Program expense ratio = Program services / Total expenses | 86% | 82% | 81% | 82% | 80% | 80% |
Spending ratio Spending ratio = Total expenses / Total revenue | 97% | 96% | 94% | 90% | 84% | 93% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 79% | 76% | 74% | 68% | 74% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 3% | 4% | 6% | 10% | 16% | 7% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | 3% | 4% | 8% | 14% | 6% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 12% | 17% | 18% | 17% | 18% | 19% |
| Investing ratios | Sector median | 2018 | 2017 | 2016 | 2015 | 2014 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.46 | 0.47 | 0.46 | 0.45 | 0.47 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.01 | 2.39 | 2.37 | 2.12 | 2.04 | 1.97 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.64 | 1.11 | 1.10 | 0.98 | 0.93 | 0.92 |
| Liquidity ratios | Sector median | 2018 | 2017 | 2016 | 2015 | 2014 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.26 | 7.87 | 6.58 | 7.17 | 7.24 | 8.46 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.14 | 0.13 | 0.15 | 0.14 | 0.14 | 0.12 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.03 | 9.46 | 9.21 | 10.58 | 11.14 | 11.52 |
| Solvency ratios | Sector median | 2018 | 2017 | 2016 | 2015 | 2014 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 27% | 34% | 36% | 39% | 41% | 44% |
Debt ratio Debt ratio = Debt / Total assets | 18% | 27% | 28% | 31% | 31% | 35% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 143% | 143% | 136% | 131% | 130% | 120% |
Financials
| Balance sheet | |||||
| Assets | 2018 | 2017 | 2016 | 2015 | 2014 |
| Cash | $19,034,764 | $34,714,996 | $64,290,936 | $71,467,815 | $65,004,693 |
| Receivables, inventories, prepaids | $7,579,164 | $10,442,901 | $9,768,715 | $9,004,294 | $8,594,716 |
| Short-term investments | $166,035,181 | $146,712,239 | $131,051,411 | $128,365,021 | $129,029,900 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $192,649,109 | $191,870,136 | $205,111,062 | $208,837,130 | $202,629,309 |
| Long-term investments | $21,366,559 | $21,798,622 | $21,661,352 | $22,943,066 | $19,131,516 |
| Fixed assets | $231,932,800 | $225,828,630 | $195,703,351 | $184,344,941 | $158,898,510 |
| Other long-term assets | $15,039,106 | $14,547,104 | $11,518,629 | $10,677,418 | $18,763,775 |
| Total long-term assets | $268,338,465 | $262,174,356 | $228,883,332 | $217,965,425 | $196,793,801 |
| Total assets | $460,987,574 | $454,044,492 | $433,994,394 | $426,802,555 | $399,423,110 |
| Liabilities | 2018 | 2017 | 2016 | 2015 | 2014 |
| Payables and accrued expenses | $14,710,627 | $18,563,942 | $17,305,986 | $17,650,329 | $13,639,834 |
| Other current liabilities | $9,758,382 | $10,583,132 | $11,292,462 | $11,197,038 | $10,310,752 |
| Total current liabilities | $24,469,009 | $29,147,074 | $28,598,448 | $28,847,367 | $23,950,586 |
| Debt | $123,602,980 | $126,552,954 | $132,447,946 | $133,987,492 | $139,629,123 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $8,901,397 | $9,643,622 | $9,926,713 | $11,577,535 | $12,535,917 |
| Total long-term liabilities | $132,504,377 | $136,196,576 | $142,374,659 | $145,565,027 | $152,165,040 |
| Total liabilities | $156,973,386 | $165,343,650 | $170,973,107 | $174,412,394 | $176,115,626 |
| Net assets | 2018 | 2017 | 2016 | 2015 | 2014 |
| Unrestricted | $243,772,023 | $201,519,088 | $189,203,902 | $187,134,809 | $176,940,197 |
| Temporarily restricted | $31,297,237 | $61,553,110 | $50,413,815 | $43,696,262 | $26,370,055 |
| Permanently restricted | $28,944,928 | $25,628,644 | $23,403,570 | $21,559,090 | $19,997,232 |
| Net assets | $304,014,188 | $288,700,842 | $263,021,287 | $252,390,161 | $223,307,484 |
| Revenues and expenses | |||||
| Revenue | 2018 | 2017 | 2016 | 2015 | 2014 |
| Total contributions | $13,155,266 | $29,744,183 | $19,891,143 | $32,699,542 | $11,698,331 |
| Program service revenue | $201,199,762 | $195,847,632 | $191,840,874 | $189,090,169 | $181,551,782 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $8,520,142 | $6,173,067 | $9,251,308 | $7,344,779 | $6,460,953 |
| Other revenue | $395,779 | ($7,332,227) | $1,194,196 | $312,282 | $6,523 |
| Total other revenue | $210,115,683 | $194,688,472 | $202,286,378 | $196,747,230 | $188,019,258 |
| Total revenue | $223,270,949 | $224,432,655 | $222,177,521 | $229,446,772 | $199,717,589 |
| Expenses | 2018 | 2017 | 2016 | 2015 | 2014 |
| Program services | $175,327,563 | $171,012,377 | $163,512,290 | $155,416,275 | $148,730,942 |
| Management and general | $35,508,557 | $38,261,768 | $34,014,658 | $34,813,790 | $34,582,669 |
| Fundraising | $2,468,618 | $2,659,440 | $2,617,521 | $3,617,625 | $2,837,540 |
| Total expenses | $213,304,738 | $211,933,585 | $200,144,469 | $193,847,690 | $186,151,151 |
| Change in net assets | 2018 | 2017 | 2016 | 2015 | 2014 |
| Surplus (deficit) | $9,966,211 | $12,499,070 | $22,033,052 | $35,599,082 | $13,566,438 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $9,966,211 | $12,499,070 | $22,033,052 | $35,599,082 | $13,566,438 |
Compensation
| Name | Title | Compensation |
| Barry H Corey | President | $589,356 |
| Adam Morris | VP Advancement | $367,515 |
| Michael Pierce | Secretary, VP of University Operation and Finance | $301,331 |
| Deborah Taylor | Senior Vice President and Provost | $265,349 |
| Paul Ferguson | Dean of School Technology and Health | $245,713 |
| Andre Stephens | VP, Student Development | $243,996 |
| Richard E Bee | Senior Director of Alumni and Parents | $229,493 |
| Christoper Grace | Professor | $227,057 |
| Lee J Wilhite | VP UMC | $224,051 |
| Peter C Hill | PROFESSOR | $220,678 |
| Gregory Vaughan | VP Enrollment Management | $218,639 |
| Jerry Mackey | Corporate Legal | $205,197 |
| Sandra Weaver | Assistant Secretary | $185,583 |
| David Koontz | Assistant Secretary | $185,176 |
| Bryan Loritts | Trustee | $8,670 |
| Philip Paul | TRUSTEE | $7,339 |
| Adam Edgerly | Trustee | $1,400 |
Compensation data as of: 6/30/2018
Response from ministry
No response has been provided by this ministry.
History
Biola University traces its origins to the Bible Institute of Los Angeles established in 1908 by Lyman Stewart, founder and president of the Union Oil Company, and the Rev. T.C. Horton, two men of extraordinary vision and commitment to Christian higher education. Dedicated to sharing and defending the Christian faith, Stewart and Horton established the Institute to educate and equip men and women to impact society at home and abroad with the truth of the gospel. The Institute's influence was felt along the entire Western Seaboard from Mexico to Canada and across the Pacific to China. By 1909, over 540 extension courses were sponsored by the Bible Institute. In 1912, the school had grown sufficiently in its outreach and constituency to call R.A. Torrey, a leader in the field of Christian education, as its dean. The cornerstone of the original Bible Institute building in Los Angeles was laid on May 31, 1913, and dedicated with these words from Stewart: "For the teaching of the truths for which the Institute stands, its doors are to be open every day of the year, and all people, without reference to race, color or class will ever be welcome to its privileges." The following decades produced immense growth, development and outreach. Under the leadership of Dr. Louis T. Talbot, president from 1932 to 1935 and 1938 to 1952, the school moved from a two-year to a four-year program offering degrees in theology, Christian education and sacred music, and a one-year program in missionary medicine. By 1949, the Bible Institute expanded to include a Bible college and in 1952 launched Talbot Theological Seminary to further serve the Christian community. Under Dr. Samuel H. Sutherland, who became president in 1952, the college continued to grow in size, programs and reputation. The demands imposed by the growing student body and the enlarged curriculum prompted the purchase of a 75-acre site in La Mirada in 1959, the same year it received accreditation from the Western Association of Schools and Colleges. In the ensuing years, Biola College broadened its curricula in the arts, sciences, professions and seminary offerings while maintaining its strong foundation in biblical studies. Dr. J. Richard Chase became Biola's sixth president in 1970, and continued to expand the program base, acquiring the Rosemead Graduate School of Professional Psychology in 1977. Biola College became Biola University on July 1, 1981, composed of the School of Arts and Sciences, Rosemead School of Psychology and Talbot School of Theology. A year later, in 1982, Dr. Clyde Cook became the seventh president. The School of Intercultural Studies, with its outstanding program in world missions, was established in 1983 and renamed the Cook School of Intercultural Studies in 2009. The School of Business was added in 1993 and renamed the Crowell School of Business in 2007. The School of Education was added in 2007. On May 11, 2007, the Board of Trustees selected the university's eighth president, Dr. Barry H. Corey, to lead Biola into its second century. Today, nine schools comprise the university: Rosemead, Talbot, Cook School of Intercultural Studies, Crowell School of Business, the School of Education, the School of Fine Arts and Communication, the School of Humanities and Social Science, the School of Cinema and Media Arts and the School of Science, Technology and Health. Ranked by the Carnegie Commission on Higher Education as a Doctoral/Research-Intensive Institution, Biola University offers more than 150 academic programs at the bachelor's, master's and doctoral degree levels. With an outstanding faculty, the university has distinguished itself in scholarship and academic excellence. As it pursues an ambitious vision for the years ahead, the university continues to be recognized as a leader in Christian higher education. In 2014, Biola was ranked 10th on the list of America's "up and coming" national universities by U.S. News and World Report and earned a position in the top tier of the prestigious national rankings. Meanwhile, enrollment continues to surpass 6,000 students, with more students than ever seeking the benefits of a Biola education. Since 1908, Biola has stood as a beacon of hope for the intellectual, spiritual and moral growth of its students. As the only national university to require a Christian commitment of its faculty, students and staff, Biola University is building on its legacy of impacting the world for the Lord Jesus Christ.