Skip to content
Nonprofiteer
← VIRGINIA BEACH THEOLOGICAL SEMINARY

Form 990 for tax year 2024

Filed by VIRGINIA BEACH THEOLOGICAL SEMINARY.

Totals

Total revenue
$760,547
Total expenses
$752,025
Contributions and grants received
$498,817
Grants paid
$32,923
Program service revenue
$166,907
Investment income
$72,138
Other revenue
$22,685
Total assets, end of year
$1,162,591
Total liabilities, end of year
$99,116
Net assets or fund balances, end of year
$1,063,475
Program services expenses (Part IX)
$533,379
Management and general expenses
$178,084
Fundraising expenses
$40,562
Program service expenses (Part III)
$533,379

Program services were 70.9% 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.

  • 1f · All other contributions, gifts and grants

    $498,817

  • 2a · Program service revenue: TUITION AND FEES

    total $166,907 · related or exempt $166,907

  • 3 · Investment income

    total $72,138 · excluded $72,138

  • 8a · Fundraising events: gross income

    $36,741

  • 8b · Fundraising events: direct expenses

    $15,504

  • 8c · Net income from fundraising events

    total $21,237

  • 11a · Other revenue: OTHER

    total $1,448 · excluded $1,448

  • 11e · Other revenue, total

    $1,448

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $32,923 · program services $32,923

  • 5 · Compensation of officers, directors and key employees

    total $13,862 · program services $10,610 · management and general $2,789 · fundraising $463

  • 7 · Other salaries and wages

    total $390,219 · program services $295,941 · management and general $83,247 · fundraising $11,031

  • 9 · Other employee benefits

    total $158,103 · program services $131,822 · management and general $13,555 · fundraising $12,726

  • 10 · Payroll taxes

    total $9,727 · program services $7,852 · management and general $1,858 · fundraising $17

  • 11c · Fees: accounting

    total $9,600 · management and general $9,600

  • 12 · Advertising and promotion

    total $2,628 · fundraising $2,628

  • 13 · Office expenses

    total $7,532 · management and general $7,532

  • 14 · Information technology

    total $46,777 · program services $24,158 · management and general $22,619

  • 16 · Occupancy

    total $22,820 · program services $2,270 · management and general $20,172 · fundraising $378

  • 17 · Travel

    total $3,628 · management and general $2,225 · fundraising $1,403

  • 19 · Conferences, conventions and meetings

    total $1,376 · fundraising $1,376

  • 20 · Interest

    total $9,354 · management and general $9,354

  • 22 · Depreciation, depletion and amortization

    total $13,023 · program services $11,031 · management and general $1,992

  • 23 · Insurance

    total $1,721 · program services $1,721

  • 24a · Other expenses: OTHER EXPENSES

    total $19,320 · program services $5,639 · management and general $3,141 · fundraising $10,540

  • 24b · Other expenses: ACCREDITATION EXPENSES

    total $8,000 · program services $8,000

  • 24c · Other expenses: STUDENTS SERVICES

    total $1,412 · program services $1,412

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,996 · end of year $66,026

  • 4 · Accounts receivable

    beginning of year $27,782 · end of year $17,470

  • 9 · Prepaid expenses and deferred charges

    end of year $14,342

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

    $191,973

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

    $169,022

  • 10c · Land, buildings and equipment, net

    beginning of year $30,653 · end of year $22,951

  • 11 · Investments: publicly traded securities

    beginning of year $1,024,780 · end of year $1,034,980

  • 15 · Other assets

    beginning of year $9,156 · end of year $6,822

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,778 · end of year $1,048

  • 19 · Deferred revenue

    beginning of year $16,230 · end of year $13,745

  • 24 · Unsecured notes and loans payable

    end of year $70,000

  • 25 · Other liabilities

    beginning of year $25,406 · end of year $14,323

  • 27 · Net assets without donor restrictions

    beginning of year $778,795 · end of year $792,509

  • 28 · Net assets with donor restrictions

    beginning of year $276,158 · end of year $270,966

Mission and programs · 2024

Mission

CHRISTIAN EDUCATION FOR MEN AND WOMEN INTERESTED IN CHRISTIAN WORK.

  • PRIMARY FOCUS IS TO PROVIDE A CHRISTIAN EDUCATION AND TRAINING FOR MINISTRIES, MISSIONARIES, AND OTHER CHRISTIAN WORKERS.

    Expenses $533,379 · Grants $32,923 · Revenue $166,907

As filed on the 2024 return.

Listed in Part VII

  • Daniel Davey

    PRESIDENT

    Total calculated
    $68,548
    From this org
    $13,862
    From related orgs
    $0
    Other
    $54,686
    Hours/week
    40
  • Steve Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jay Germon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Sean Godden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jeffrey Greene

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Doug Kint

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Terry Lackey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Keith Leonard

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Kirk Linahan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Dwayne Louk

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Pat McCarty

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Donald Roebuck

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Bradley Staley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Gary Whitelam

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Michael Wilburn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Ron Wright

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Anthony Brazas

    CFO

    Total calculated
    $0
    Hours/week
    40

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
2024
Filed
15 March 2026
IRS schema version
2024v5.0
Source object
202600779349300905

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.