Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $173,230

• 1f · All other contributions, gifts and grants

  $7,804,810

• 1g · Noncash contributions included above

  $326,700

• 2a · Program service revenue: Student Tuition & Fees

  total $14,555,040 · related or exempt $14,555,040

• 2b · Program service revenue: Auxiliary Enterprises

  total $2,326,244 · related or exempt $2,326,244

• 2c · Program service revenue: Contracts & Subscriptions

  total $1,135,744 · related or exempt $1,135,744

• 2d · Program service revenue: Government Fees

  total $123,245 · related or exempt $123,245

• 2e · Program service revenue: Other Revenue

  total $22,447 · related or exempt $22,447

• 3 · Investment income

  total $1,681,378 · excluded $1,681,378

• 6a · Gross rents

  real property $106,704

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $106,704

• 6d · Net rental income or loss

  total $106,704 · excluded $106,704

• 7a · Gross sales of assets other than inventory

  securities $9,066,095

• 7b · Less cost or other basis and sales expenses

  securities $8,145,538

• 7c · Gain or loss

  securities $920,557

• 7d · Net gain or loss

  total $920,557 · excluded $920,557

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $65,656 · program services $65,656

• 2 · Grants to domestic individuals

  total $5,704,980 · program services $5,704,980

• 3 · Grants to foreign organizations and individuals

  total $1,073,692 · program services $1,073,692

• 5 · Compensation of officers, directors and key employees

  total $412,369 · management and general $412,369

• 7 · Other salaries and wages

  total $10,466,387 · program services $8,382,351 · management and general $1,447,425 · fundraising $636,611

• 8 · Pension plan contributions

  total $399,590 · program services $320,025 · management and general $55,260 · fundraising $24,305

• 9 · Other employee benefits

  total $1,461,462 · program services $1,129,861 · management and general $253,934 · fundraising $77,667

• 10 · Payroll taxes

  total $660,700 · program services $510,651 · management and general $106,154 · fundraising $43,895

• 11b · Fees: legal

  total $106,074 · program services $25,613 · management and general $80,461

• 11c · Fees: accounting

  total $61,000 · management and general $61,000

• 11e · Fees: professional fundraising services

  total $13,000 · fundraising $13,000

• 11f · Fees: investment management

  total $84,912 · program services $84,912

• 11g · Fees: other

  total $3,296,076 · program services $2,573,295 · management and general $707,380 · fundraising $15,401

• 12 · Advertising and promotion

  total $215,622 · program services $50,244 · management and general $165,378

• 13 · Office expenses

  total $957,043 · program services $787,150 · management and general $139,371 · fundraising $30,522

• 14 · Information technology

  total $636,275 · program services $31,251 · management and general $563,080 · fundraising $41,944

• 16 · Occupancy

  total $1,597,353 · program services $1,517,164 · management and general $76,405 · fundraising $3,784

• 17 · Travel

  total $579,004 · program services $451,810 · management and general $93,423 · fundraising $33,771

• 19 · Conferences, conventions and meetings

  total $170,072 · program services $147,869 · management and general $20,874 · fundraising $1,329

• 20 · Interest

  total $650,956 · program services $649,239 · management and general $1,717

• 22 · Depreciation, depletion and amortization

  total $1,351,150 · program services $878,460 · management and general $472,690

• 23 · Insurance

  total $83,084 · fundraising $83,084

• 24a · Other expenses: Purchases for Resale

  total $79,445 · program services $73,797 · management and general $5,648

• 24e · All other expenses

  total $437,510 · program services $424,818 · management and general $12,416 · fundraising $276

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $864,595 · end of year $1,188,697

• 2 · Savings and temporary cash investments

  beginning of year $1,899,431 · end of year $4,885,403

• 3 · Pledges and grants receivable

  beginning of year $2,906,748 · end of year $1,466,994

• 4 · Accounts receivable

  beginning of year $2,342,555 · end of year $2,041,809

• 5 · Loans and receivables from officers and key people

  beginning of year $250,000 · end of year $250,000

• 7 · Other notes and loans receivable

  beginning of year $1,834,687 · end of year $1,726,274

• 8 · Inventories for sale or use

  beginning of year $207,568 · end of year $213,621

• 9 · Prepaid expenses and deferred charges

  beginning of year $609,063 · end of year $591,490

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

  $65,836,993

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

  $33,680,821

• 10c · Land, buildings and equipment, net

  beginning of year $33,411,720 · end of year $32,156,172

• 11 · Investments: publicly traded securities

  beginning of year $58,091,534 · end of year $59,225,200

• 15 · Other assets

  beginning of year $3,479,448 · end of year $3,697,054

• 17 · Accounts payable and accrued expenses

  beginning of year $1,717,009 · end of year $1,736,435

• 19 · Deferred revenue

  beginning of year $1,284,364 · end of year $1,367,132

• 21 · Escrow or custodial account liability

  beginning of year $2,260,168 · end of year $2,139,422

• 23 · Secured mortgages and notes payable

  beginning of year $7,144,057 · end of year $7,747,277

• 25 · Other liabilities

  beginning of year $356,908 · end of year $318,542

• 27 · Net assets without donor restrictions

  beginning of year $16,834,030 · end of year $15,324,833

• 28 · Net assets with donor restrictions

  beginning of year $76,300,813 · end of year $78,809,073

The filer's explanations (Part III)

Part I, Line 1a

Travel for companions is restricted to spouses and only in accordance with the Spousal Travel Policy. Housing allowance is restricted to eligible ordained or licensed ministers who are connected with a church or denomination that exercises significant oversight and supervision over their ministerial duties at the Seminary. The parsonage allowance, which is a portion of the minister's total salary, is approved annually by the Audit Committee.