Form 990 for tax year 2023
Filed by AMERICAN BAPTIST THEOLOGICAL SEMINARY.
Totals
- Total revenue
- $6,031,269
- Total expenses
- $5,970,121
- Contributions and grants received
- $5,000,676
- Grants paid
- $299,538
- Program service revenue
- $826,140
- Investment income
- -$10,739
- Other revenue
- $215,192
- Total assets, end of year
- $10,924,598
- Total liabilities, end of year
- $4,845,239
- Net assets or fund balances, end of year
- $6,079,359
- Program services expenses (Part IX)
- $2,926,214
- Management and general expenses
- $2,469,669
- Fundraising expenses
- $574,238
- Program service expenses (Part III)
- $2,926,214
Program services were 49.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$3,997,002
-
1f · All other contributions, gifts and grants
$1,003,674
-
2a · Program service revenue: HOUSING
total $79,032 · related or exempt $79,032
-
2b · Program service revenue: MEALS
total $54,459 · related or exempt $54,459
-
2c · Program service revenue: OTHER PROGRAM REVENUE
total $93,153 · related or exempt $93,153
-
2d · Program service revenue: TUITION AND FEES
total $599,496 · related or exempt $599,496
-
3 · Investment income
total $6,448 · excluded $6,448
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $58,041
-
6c · Rental income or loss
real property $58,041
-
6d · Net rental income or loss
total $58,041 · related or exempt $58,041
-
7a · Gross sales of assets other than inventory
securities $879,248
-
7b · Less cost or other basis and sales expenses
securities $896,435
-
7c · Gain or loss
securities -$17,187
-
7d · Net gain or loss
total -$17,187 · excluded -$17,187
-
8a · Fundraising events: gross income
$29,125
-
8b · Fundraising events: direct expenses
$28,102
-
8c · Net income from fundraising events
total $1,023
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: INSURANCE PROCEEDS
total $152,370 · related or exempt $152,370
-
11b · Other revenue: VENDING COMMISSIONS
total $3,758 · related or exempt $3,758
-
11e · Other revenue, total
$156,128
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $140,676 · program services $140,676
-
2 · Grants to domestic individuals
total $158,862 · program services $158,862
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $659,838 · program services $85,298 · management and general $363,340 · fundraising $211,200
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,491,167 · program services $893,163 · management and general $473,195 · fundraising $124,809
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $237,198 · program services $38,552 · management and general $194,047 · fundraising $4,599
-
10 · Payroll taxes
total $165,247 · program services $60,076 · management and general $89,807 · fundraising $15,364
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $19,850 · management and general $19,850
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $500 · fundraising $500
-
13 · Office expenses
total $19,361 · program services $2,127 · management and general $17,234
-
14 · Information technology
total $89,800 · program services $53,583 · management and general $36,217
-
15 · Royalties
total $0
-
16 · Occupancy
total $363,653 · program services $290,922 · management and general $72,731
-
17 · Travel
total $75,094 · program services $39,661 · management and general $30,727 · fundraising $4,706
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $7,422 · program services $7,422
-
20 · Interest
total $207,519 · management and general $207,519
-
21 · Payments to affiliates
total $48,697 · program services $3,798 · management and general $40,818 · fundraising $4,081
-
22 · Depreciation, depletion and amortization
total $689,101 · program services $549,423 · management and general $139,678
-
23 · Insurance
total $0
-
24a · Other expenses: Contracted Services
total $1,345,519 · program services $489,326 · management and general $695,227 · fundraising $160,966
-
24b · Other expenses: Other expenses
total $116,199 · program services $3,011 · management and general $65,175 · fundraising $48,013
-
24c · Other expenses: BAD DEBT
total $57,888 · program services $57,888
-
24d · Other expenses: Minor Repairs
total $37,286 · program services $37,286
-
24e · All other expenses
total $39,244 · program services $15,140 · management and general $24,104
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $267,921 · end of year $496,483
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $618,208
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$14,207,746
-
10b · Land, buildings and equipment: accumulated depreciation
$6,747,399
-
10c · Land, buildings and equipment, net
beginning of year $6,976,286 · end of year $7,460,347
-
11 · Investments: publicly traded securities
beginning of year $2,618,414 · end of year $2,349,560
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $1,692 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $397,215 · end of year $483,435
-
19 · Deferred revenue
beginning of year $439,217 · end of year $696,061
-
23 · Secured mortgages and notes payable
beginning of year $2,679,319 · end of year $2,579,077
-
24 · Unsecured notes and loans payable
beginning of year $166,670 · end of year $602,646
-
25 · Other liabilities
beginning of year $419,020 · end of year $484,020
-
27 · Net assets without donor restrictions
beginning of year $3,757,761 · end of year $4,178,450
-
28 · Net assets with donor restrictions
beginning of year $2,005,111 · end of year $1,900,909
Mission and programs · 2023
Mission
Is to provide educational opportunities for gifted students who have limited academic experiences and resources but unlimited potential for leadership in society.
Activities or mission (Part I)
The mission of American Baptist College, a Historically Black College with a liberal arts emphasis, is to educate, graduate, and prepare diverse students for Christian leadership, service, and social justice in the world.
-
ON CAMPUS 4-YEAR PROGRAM CONFERRING COLLEGE DEGREES
Expenses $2,926,214
As filed on the 2023 return.
Listed in Part VII
-
Forrest E Harris Sr DMinFORREST E HARRIS SR DMIN
President
- Total calculated
- $160,000
- From this org
- $160,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,000
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $160,000
-
Phyllis Dk Hildreth JDPHYLLIS DK HILDRETH JD
VP STRAT & ACAD
- Total calculated
- $111,250
- From this org
- $111,250
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Richard Jackson JDRICHARD JACKSON JD
Vice President
- Total calculated
- $110,000
- From this org
- $110,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Febbie Dickerson PhDFEBBIE DICKERSON PHD
Vice President
- Total calculated
- $85,298
- From this org
- $85,298
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Mrs Donnetta ButlerMRS DONNETTA BUTLER
CFO
- Total calculated
- $14,722
- From this org
- $14,722
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Bishop Lawrence KirbyBISHOP LAWRENCE KIRBY
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dr John W Crittle IIDR JOHN W CRITTLE II
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Rev Tellis J ChapmanREV TELLIS J CHAPMAN
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Atty James A Crumlin JrATTY JAMES A CRUMLIN JR
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dr Darrell DrumwrightDR DARRELL DRUMWRIGHT
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Mr Dennie MarshallMR DENNIE MARSHALL
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Mrs Lamel Bandy NealMRS LAMEL BANDY NEAL
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Edward BranchEDWARD BRANCH
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Rev Trajean JadoretteREV TRAJEAN JADORETTE
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dorothy BerryDOROTHY BERRY
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Gail Carr-WilliamsGAIL CARR-WILLIAMS
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Christopher DavisCHRISTOPHER DAVIS
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Rev Jonny H Flakes IIIREV JONNY H FLAKES III
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Brenda GilmoreBRENDA GILMORE
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Don HardinDON HARDIN
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Derrick Jackson LDERRICK JACKSON L
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
William B KingWILLIAM B KING
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Rosetta Miller-PerryROSETTA MILLER-PERRY
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Rev Brian Lamont MonREV BRIAN LAMONT MON
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Cynthia Turner-Graham MDCYNTHIA TURNER-GRAHAM MD
Trustee
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$140,676
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 4 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540359349301954
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