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Nonprofiteer
← MID-AMERICA BAPTIST THEOLOGICAL SEMINARY

Form 990 for tax year 2023

Filed by MID-AMERICA BAPTIST THEOLOGICAL SEMINARY.

Totals

Total revenue
$4,032,635
Total expenses
$6,197,471
Contributions and grants received
$2,353,673
Grants paid
$0
Program service revenue
$1,485,442
Investment income
$132,935
Other revenue
$60,585
Total assets, end of year
$23,213,789
Total liabilities, end of year
$4,943,204
Net assets or fund balances, end of year
$18,270,585
Program services expenses (Part IX)
$2,914,750
Management and general expenses
$2,701,305
Fundraising expenses
$581,416
Program service expenses (Part III)
$2,914,750

Program services were 47.0% 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.

  • 1f · All other contributions, gifts and grants

    $2,353,673

  • 2a · Program service revenue: Tuition and fees

    total $1,399,672 · related or exempt $1,399,672

  • 2b · Program service revenue: Auxiliary revenue

    total $85,770 · related or exempt $85,770

  • 3 · Investment income

    total $132,935 · excluded $132,935

  • 11a · Other revenue: Admin Reimbursement

    total $55,000 · related or exempt $55,000

  • 11b · Other revenue: Miscellaneous revenue

    total $5,585 · related or exempt $5,585

  • 11e · Other revenue, total

    $60,585

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $866,706 · program services $466,655 · management and general $344,560 · fundraising $55,491

  • 7 · Other salaries and wages

    total $2,186,863 · program services $1,177,460 · management and general $869,388 · fundraising $140,015

  • 8 · Pension plan contributions

    total $64,889 · program services $43,499 · management and general $19,858 · fundraising $1,532

  • 9 · Other employee benefits

    total $251,600 · program services $146,747 · management and general $96,043 · fundraising $8,810

  • 10 · Payroll taxes

    total $124,723 · program services $63,236 · management and general $46,658 · fundraising $14,829

  • 11c · Fees: accounting

    total $50,454 · program services $2,426 · management and general $48,028

  • 12 · Advertising and promotion

    total $4,724 · program services $1,250 · fundraising $3,474

  • 13 · Office expenses

    total $67,325 · program services $17,373 · management and general $6,850 · fundraising $43,102

  • 14 · Information technology

    total $186,088 · program services $71,836 · management and general $99,436 · fundraising $14,816

  • 16 · Occupancy

    total $392,369 · program services $377 · management and general $391,934 · fundraising $58

  • 17 · Travel

    total $52,658 · program services $22,403 · management and general $24,610 · fundraising $5,645

  • 20 · Interest

    total $181,345 · program services $159,199 · management and general $22,146

  • 22 · Depreciation, depletion and amortization

    total $506,316 · program services $238,127 · management and general $220,689 · fundraising $47,500

  • 23 · Insurance

    total $102,555 · program services -$10 · management and general $102,565

  • 24a · Other expenses: Contract labor

    total $308,476 · program services $30,347 · management and general $95,427 · fundraising $182,702

  • 24b · Other expenses: Subsidized expenses

    total $287,691 · program services $192,118 · management and general $95,573

  • 24c · Other expenses: Periodicals & journals

    total $100,655 · program services $100,655

  • 24d · Other expenses: Bad debt expense

    total $86,628 · program services $86,628

  • 24e · All other expenses

    total $375,406 · program services $94,424 · management and general $217,540 · fundraising $63,442

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,369 · end of year $2,070

  • 2 · Savings and temporary cash investments

    beginning of year $149,819 · end of year $534,261

  • 4 · Accounts receivable

    beginning of year $147,352 · end of year $98,567

  • 7 · Other notes and loans receivable

    beginning of year $575,896 · end of year $557,944

  • 8 · Inventories for sale or use

    beginning of year $80,378 · end of year $106,843

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,238 · end of year $15,238

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

    $29,517,531

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

    $10,558,614

  • 10c · Land, buildings and equipment, net

    beginning of year $19,386,493 · end of year $18,958,917

  • 11 · Investments: publicly traded securities

    beginning of year $3,121,843 · end of year $2,892,817

  • 14 · Intangible assets

    beginning of year $58,064 · end of year $43,835

  • 15 · Other assets

    beginning of year $3,297 · end of year $3,297

  • 17 · Accounts payable and accrued expenses

    beginning of year $250,273 · end of year $377,082

  • 25 · Other liabilities

    beginning of year $3,087,383 · end of year $4,566,122

  • 27 · Net assets without donor restrictions

    beginning of year $15,582,082 · end of year $13,628,482

  • 28 · Net assets with donor restrictions

    beginning of year $4,620,011 · end of year $4,642,103

Mission and programs · 2023

Mission

To provide religious education to students

  • Academic training in ministry - A combined total of 642 students registered for the Fall, Spring and Summer terms, taking a total for the year of 5,500 credit hours.

    Expenses $2,001,659 · Revenue $1,399,672

  • Library and Bookstore - Provided research and information to students (642 combined Fall, Spring, and Summer registration) and faculty.

    Expenses $325,417 · Revenue $85,770

  • Student services - Assisted students (642 combined Fall, Spring, and Summer registration) and families with all the areas pertaining to campus life.

    Expenses $536,794

  • Miscellaneous activities directly related to overall mission of organization.

    Expenses $50,880 · Revenue $60,585

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Glenda Norville

    Director

    Total calculated
    $0
    Hours/week
    1

  • Terry Brown

    Director

    Total calculated
    $0
    Hours/week
    1

  • Betsy Wade

    DIrector

    Total calculated
    $0
    Hours/week
    1

  • Rose Mink

    Director

    Total calculated
    $0
    Hours/week
    1

  • Karen Nelson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Candi Finch

    Director

    Total calculated
    $0
    Hours/week
    1

  • Nick Brown

    Director

    Total calculated
    $0
    Hours/week
    1

  • Van Gray

    Chief Development Officer

    Total calculated
    $0
    Hours/week
    1

  • Al Santos

    Director

    Total calculated
    $0
    Hours/week
    1

  • Scott Colter

    Director

    Total calculated
    $0
    Hours/week
    1

  • Donn Arms

    Director

    Total calculated
    $0
    Hours/week
    1

  • Zac Sandiford

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ray Skinner

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Roland Maddox

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Eugene Howard

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Terry Brimhall

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Keith Noble

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jimmie Williams

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Richard Proctor

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Curtiss Doss

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Michael Spradlin

    President

    Total calculated
    $224,271
    From this org
    $211,594
    From related orgs
    $0
    Other
    $12,677
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,660
    Bonus
    $31,934
    Other
    $42,000
    Deferred
    $4,133
    Nontaxable benefits
    $8,544
    Filer's total
    $224,271

  • Bradley Thompson

    Executive VP

    Total calculated
    $238,210
    From this org
    $225,187
    From related orgs
    $0
    Other
    $13,023
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,437
    Bonus
    $69,750
    Other
    $36,000
    Deferred
    $4,479
    Nontaxable benefits
    $8,544
    Filer's total
    $238,210

  • Soo Geun Song

    VP Institutional Assessment

    Total calculated
    $32,003
    From this org
    $31,400
    From related orgs
    $0
    Other
    $603
    Hours/week
    40

  • Mikey Mewborn

    VP Student Life

    Total calculated
    $148,129
    From this org
    $136,873
    From related orgs
    $0
    Other
    $11,256
    Hours/week
    40

  • Randy Redd

    VP for Finance

    Total calculated
    $182,957
    From this org
    $171,018
    From related orgs
    $0
    Other
    $11,939
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $80,515
    Bonus
    $40,250
    Other
    $50,253
    Deferred
    $3,395
    Nontaxable benefits
    $8,544
    Filer's total
    $182,957

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202521359349310247

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