Totals
- Total revenue
- $1,992,923
- Total expenses
- $2,094,549
- Contributions and grants received
- $613,121
- Grants paid
- $0
- Program service revenue
- $61,171
- Investment income
- $38,266
- Other revenue
- $1,280,365
- Total assets, end of year
- $1,890,851
- Total liabilities, end of year
- $1,024,810
- Net assets or fund balances, end of year
- $866,041
- Program services expenses (Part IX)
- $893,830
- Management and general expenses
- $1,200,424
- Fundraising expenses
- $295
- Program service expenses (Part III)
- $893,830
Program services were 42.7% 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
$613,121
-
2a · Program service revenue: TUITION
total $61,171
-
3 · Investment income
total $38,266
-
11a · Other revenue: SALES AND AUXILIARY ENTERPRISE
total $1,279,562
-
11b · Other revenue: OTHER INCOME
total $803
-
11e · Other revenue, total
$1,280,365
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
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 $921,279 · program services $589,632 · management and general $331,647
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $44,515 · program services $3,863 · management and general $40,652
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $179,064 · program services $21,083 · management and general $157,981
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $75,000 · management and general $75,000
-
12 · Advertising and promotion
total $95,897 · management and general $95,897
-
13 · Office expenses
total $97,838 · program services $21,969 · management and general $75,869
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $147,414 · program services $147,414
-
17 · Travel
total $105,578 · management and general $105,578
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $41,940 · management and general $41,940
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $115,617 · management and general $115,617
-
23 · Insurance
total $44,743 · program services $44,743
-
24a · Other expenses: FUNDRAISING
total $295 · fundraising $295
-
24b · Other expenses: BANK FEES
total $20,985 · management and general $20,985
-
24c · Other expenses: PRINTING PUBLICATION
total $20,523 · program services $20,523
-
24d · Other expenses: SCHOLARSHIP528
total $528 · program services $528
-
24e · All other expenses
total $183,333 · program services $44,075 · management and general $139,258
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $341,566 · end of year $127,330
-
4 · Accounts receivable
beginning of year $7,866 · end of year $24,296
-
10a · Land, buildings and equipment: cost or other basis
$2,419,370
-
10b · Land, buildings and equipment: accumulated depreciation
$1,085,166
-
10c · Land, buildings and equipment, net
beginning of year $1,012,105 · end of year $1,334,204
-
15 · Other assets
beginning of year $366,950 · end of year $405,021
-
17 · Accounts payable and accrued expenses
beginning of year $120,600 · end of year $71,371
-
19 · Deferred revenue
beginning of year $640,220 · end of year $19,000
-
25 · Other liabilities
end of year $934,439
-
27 · Net assets without donor restrictions
beginning of year $611,830 · end of year $524,376
-
28 · Net assets with donor restrictions
beginning of year $355,837 · end of year $341,665
Mission and programs · 2024
Mission
Turner Theological Seminary advances its mission by preparing Christian leaders through graduatetheological education, leadership development, spiritual formation, and lifelong learning. During thefiscal year ended June 30, 2025, the Seminary strengthened its academic, operational, and financialcapacity as an independent theological institution.
Activities or mission (Part I)
Turner Theological Seminary advances its mission by preparing Christian leaders through graduatetheological education, leadership development, spiritual formation, and lifelong learning.
-
Provided graduate theological education to 54 Master of Divinity students, preparing men and women for ecclesial leadership through theological scholarship, spiritual formation, and practical ministry preparation.
Expenses $893,830
-
Awarded approximately 668,132 in scholarships and fellowships while providing academic support, mentoring, leadership development, and spiritual formation to promote student success and ministerial preparation.
Grants $613,121
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ammie L Davis
President CEO
- Total calculated
- $120,000
- From this org
- $120,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Tar U Way R A Bright
Treasurer
- Total calculated
- $0
-
Gloria T Byrd
Secretary
- Total calculated
- $0
-
Michael Mitchell
Chair
- Total calculated
- $0
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.
Schedule J
Answered yes
- 3 · Written employment contract
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- IRS schema version
- 2024v5.2
- Source object
- 202622109349301857
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