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Nonprofiteer
← SHEPHERDS THEOLOGICAL SEMINARY INC

Form 990 for tax year 2022

Filed by SHEPHERDS THEOLOGICAL SEMINARY INC.

Totals

Total revenue
$3,691,999
Total expenses
$3,532,885
Contributions and grants received
$1,888,617
Grants paid
$48,582
Program service revenue
$1,758,264
Investment income
$0
Other revenue
$45,118
Total assets, end of year
$1,717,921
Total liabilities, end of year
$505,051
Net assets or fund balances, end of year
$1,212,870
Program services expenses (Part IX)
$2,819,034
Management and general expenses
$573,637
Fundraising expenses
$140,214
Program service expenses (Part III)
$2,819,034

Program services were 79.8% 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)

    $570,247

  • 1f · All other contributions, gifts and grants

    $1,318,370

  • 1g · Noncash contributions included above

    $617,000

  • 2a · Program service revenue: TUITION

    total $1,758,264 · related or exempt $1,758,264

  • 8a · Fundraising events: gross income

    $34,095

  • 8c · Net income from fundraising events

    total $34,095 · excluded $34,095

  • 11a · Other revenue: MISCELLENEOUS

    total $11,023 · related or exempt $11,023

  • 11e · Other revenue, total

    $11,023

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $48,582 · program services $48,582

  • 5 · Compensation of officers, directors and key employees

    total $152,250 · program services $86,830 · management and general $65,420

  • 7 · Other salaries and wages

    total $1,659,895 · program services $1,354,724 · management and general $259,396 · fundraising $45,775

  • 9 · Other employee benefits

    total $234,366 · program services $194,524 · management and general $35,155 · fundraising $4,687

  • 10 · Payroll taxes

    total $146,095 · program services $121,259 · management and general $21,914 · fundraising $2,922

  • 12 · Advertising and promotion

    total $136,162 · program services $69,291 · management and general $15,579 · fundraising $51,292

  • 16 · Occupancy

    total $281,434 · program services $265,222 · management and general $10,808 · fundraising $5,404

  • 17 · Travel

    total $53,629 · program services $27,998 · management and general $18,566 · fundraising $7,065

  • 20 · Interest

    total $4,134 · program services $2,480 · management and general $827 · fundraising $827

  • 22 · Depreciation, depletion and amortization

    total $41,171 · program services $37,993 · management and general $2,120 · fundraising $1,058

  • 24a · Other expenses: TRAINING & EDUCATION

    total $342,479 · program services $329,136 · management and general $12,694 · fundraising $649

  • 24b · Other expenses: BANK, PROFESSIONAL, CC FE

    total $268,750 · program services $181,118 · management and general $83,851 · fundraising $3,781

  • 24c · Other expenses: OTHER

    total $81,349 · program services $38,655 · management and general $37,880 · fundraising $4,814

  • 24d · Other expenses: COMPUTER & SOFTWARE

    total $57,792 · program services $46,792 · management and general $1,404 · fundraising $9,596

  • 24e · All other expenses

    total $24,797 · program services $14,430 · management and general $8,023 · fundraising $2,344

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,147,686 · end of year $813,298

  • 4 · Accounts receivable

    beginning of year $34,193 · end of year $41,579

  • 9 · Prepaid expenses and deferred charges

    beginning of year $79,107 · end of year $21,728

  • 10a · Land, buildings and equipment: cost or other basis

    $1,522,365

  • 10b · Land, buildings and equipment: accumulated depreciation

    $778,690

  • 10c · Land, buildings and equipment, net

    beginning of year $287,096 · end of year $743,675

  • 15 · Other assets

    beginning of year $86,800 · end of year $97,641

  • 17 · Accounts payable and accrued expenses

    beginning of year $496,564 · end of year $476,274

  • 19 · Deferred revenue

    beginning of year $22,445

  • 25 · Other liabilities

    beginning of year $62,127 · end of year $28,777

  • 27 · Net assets without donor restrictions

    beginning of year $488,889 · end of year $641,641

  • 28 · Net assets with donor restrictions

    beginning of year $564,857 · end of year $571,229

Mission and programs · 2022

Mission

TO TRAIN MEN AND WOMEN FOR MINISTRY.

  • SHEPHERDS THEOLOGICAL SEMINARY IS AN ACCREDITED GRADUATE SCHOOL PROVIDING QUALITY ACADEMIC AND THEOLOGICAL TRAINING FOR STUDENTS DESIRING TO SERVE IN LEADERSHIP ROLES AT CHURCHES, NON-PROFITS, AND OTHER FAITH-BASED ORGANIZATIONS. DURING THE 2022-2023 ACADEMIC YEAR, STS WAS ENGAGED IN GRADUATE EDUCATION AT THREE SITES. AT ITS CARY, NC CAMPUS, STS PROVIDED A TOTAL OF 62 COURSES RANGING FROM 1 TO 21 STUDENTS ENROLLED. THESE COURSES INCLUDE TRADITIONAL ACADEMIC COURSES ON THEOLOGY, HISTORY, PHILOSOPHY, AND BIBLICAL LANGUAGES, THESES COURSES, PRACTICAL MINISTRY COURSES, INDIVIDUAL INTERSHIPS, AND INDEPENDENT STUDY COURSES. THE WEST INSTITUTE OF STS, A TEACHING SITE LOCATED IN LARAMIE WY, PROVIDED A TOTAL OF 17 CLASSROOM COURSES RANGING FROM 5 TO 23 STUDENTS ENROLLED. ADDITIONALLY, THE STS TEACHING SITE IN BRYAN, TX, PROVIDED A TOTAL OF 2 COURSES WITH 6 STUDENTS ENROLLED IN EACH. IN TOTAL, THE FOLLOWING NUMBERS OF STUDENTS PARTICIPATED IN PROGRAMS AT STS: 132 GRADUATE STUDENTS (DEGREE/CREDIT SEEKING) AND 34 NON-DEGREE-SEEKING/AUDIT STUDENT. STS DELIVERED 2,044 TOTAL CREDIT HOURS OF INSTRUCTION, OF WHICH 298 CREDITS WERE TAUGHT VIA DISTANCE EDUCATION. STS HAD 8 GRADUATES IN MAY, 24 GRADUATES IN AUGUST, AND 1 IN DECEMBER WHO WERE PARTICIPATING IN A VARIETY OF MINISTRIES, INCLUDING THE FOLLOWING: PASTORS, ASSISTANT PASTORS, CHURCH PLANTERS, MISSIONARIES, BIBLICAL COUNSELORS, LAY-COUNSELORS, NON-PROFIT WORKERS, AND LOCAL-CHURCH VOLUNTEERS. SIMILARLY, STS'S ALUMNI SERVE IN ALL AREAS OF LOCAL CHURCH MINISTRY, PARA-CHURCH MINISTRIES, FOREIGN MINISTRIES, AND DOCTORAL PROGRAMS AND ACADEMIC APPOINTMENTS.

    Expenses $2,532,175 · Grants $48,582 · Revenue $1,758,264

  • OTHER

    Expenses $286,859

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tim Sigler

    PROVOST DEAN

    Total calculated
    $134,038
    From this org
    $134,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Thomas Pittman

    VP OF ACADEM

    Total calculated
    $86,830
    From this org
    $86,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ewart Hodgins

    CFO

    Total calculated
    $65,420
    From this org
    $65,420
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Thomas Baber

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alan Cropsey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Stephen Davey

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Pam Gerace

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Bobby Godfrey

    CHAIRMAN OF

    Total calculated
    $0
    Hours/week
    1

  • Don Hong

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Gibbs III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Paul Martin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Paul Newby

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Arne Newman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jack Owen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Wayne Witt

    TREASURER

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
26 October 2023
IRS schema version
2022v5.0
Source object
202343109349302724

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