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Nonprofiteer
← MID-AMERICA BAPTIST THEOLOGICAL SEMINARY

Form 990 for tax year 2024

Filed by MID-AMERICA BAPTIST THEOLOGICAL SEMINARY.

Totals

Total revenue
$20,877,241
Total expenses
$6,774,832
Contributions and grants received
$19,122,416
Grants paid
$0
Program service revenue
$1,208,597
Investment income
$123,721
Other revenue
$422,507
Total assets, end of year
$32,820,545
Total liabilities, end of year
$276,936
Net assets or fund balances, end of year
$32,543,609
Program services expenses (Part IX)
$2,929,024
Management and general expenses
$3,166,336
Fundraising expenses
$679,472
Program service expenses (Part III)
$2,929,024

Program services were 43.2% 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.

  • 1d · Related organizations

    $17,504,452

  • 1f · All other contributions, gifts and grants

    $1,617,964

  • 1g · Noncash contributions included above

    $23,435

  • 2a · Program service revenue: Tuition and fees

    total $1,144,705 · related or exempt $1,144,705

  • 2b · Program service revenue: Auxiliary revenue

    total $63,892 · related or exempt $63,892

  • 3 · Investment income

    total $123,721 · excluded $123,721

  • 11a · Other revenue: ERC Credit

    total $399,348 · related or exempt $399,348

  • 11b · Other revenue: Miscellaneous revenue

    total $23,159 · related or exempt $23,159

  • 11e · Other revenue, total

    $422,507

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $860,305 · program services $446,742 · management and general $352,694 · fundraising $60,869

  • 7 · Other salaries and wages

    total $2,269,414 · program services $1,178,468 · management and general $930,378 · fundraising $160,568

  • 9 · Other employee benefits

    total $360,186 · program services $222,750 · management and general $126,462 · fundraising $10,974

  • 10 · Payroll taxes

    total $134,952 · program services $70,881 · management and general $51,795 · fundraising $12,276

  • 11c · Fees: accounting

    total $54,135 · program services $3,517 · management and general $50,618

  • 12 · Advertising and promotion

    total $2,282 · program services $1,350 · fundraising $932

  • 13 · Office expenses

    total $97,207 · program services $22,115 · management and general $24,332 · fundraising $50,760

  • 16 · Occupancy

    total $452,111 · program services $1,122 · management and general $450,989

  • 17 · Travel

    total $68,344 · program services $27,327 · management and general $35,464 · fundraising $5,553

  • 20 · Interest

    total $220,467 · program services $220,467

  • 22 · Depreciation, depletion and amortization

    total $507,122 · program services $219,377 · management and general $236,907 · fundraising $50,838

  • 23 · Insurance

    total $104,265 · program services $877 · management and general $103,388

  • 24a · Other expenses: Subsidized expenses

    total $548,403 · program services $205,353 · management and general $343,050

  • 24b · Other expenses: Contract labor

    total $389,538 · program services $26,279 · management and general $148,169 · fundraising $215,090

  • 24c · Other expenses: Computer/Software

    total $165,815 · program services $69,909 · management and general $75,677 · fundraising $20,229

  • 24d · Other expenses: Meals & entertainment

    total $78,470 · program services $32,947 · management and general $20,820 · fundraising $24,703

  • 24e · All other expenses

    total $461,816 · program services $179,543 · management and general $215,593 · fundraising $66,680

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,070 · end of year $545

  • 2 · Savings and temporary cash investments

    beginning of year $534,261 · end of year $11,447,356

  • 4 · Accounts receivable

    beginning of year $98,567 · end of year $37,467

  • 7 · Other notes and loans receivable

    beginning of year $557,944 · end of year $6,255

  • 8 · Inventories for sale or use

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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,238 · end of year $11,238

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

    $29,608,613

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

    $11,065,736

  • 10c · Land, buildings and equipment, net

    beginning of year $18,958,917 · end of year $18,542,877

  • 11 · Investments: publicly traded securities

    beginning of year $2,892,817 · end of year $2,522,538

  • 14 · Intangible assets

    beginning of year $43,835 · end of year $28,915

  • 15 · Other assets

    beginning of year $3,297 · end of year $116,511

  • 17 · Accounts payable and accrued expenses

    beginning of year $377,082 · end of year $208,995

  • 25 · Other liabilities

    beginning of year $4,566,122 · end of year $67,941

  • 27 · Net assets without donor restrictions

    beginning of year $13,628,482 · end of year $27,887,199

  • 28 · Net assets with donor restrictions

    beginning of year $4,642,103 · end of year $4,656,410

Mission and programs · 2024

Mission

To provide religious education to students

  • Academic training in ministry - A combined total of 231 students registered for the Fall, Spring and Summer terms, taking a total for the year of 4,498 credit hours.

    Expenses $2,030,672 · Revenue $1,544,053

  • Library and Bookstore - Provided research and information to students (231) combined Fall, Spring, and Summer registration) and faculty.

    Expenses $298,858 · Revenue $63,892

  • Student services - Assisted students (231 combined Fall, Spring, and Summer registration) and families with all the areas pertaining to campus life.

    Expenses $560,312

  • Miscellaneous activities directly related to overall mission of organization.

    Expenses $39,182 · Revenue $23,159

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • 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
    $167,307
    From this org
    $150,971
    From related orgs
    $0
    Other
    $16,336
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,721
    Bonus
    $25,250
    Other
    $0
    Deferred
    $4,106
    Nontaxable benefits
    $12,230
    Filer's total
    $167,307

  • Bradley Thompson

    Executive VP

    Total calculated
    $184,159
    From this org
    $170,617
    From related orgs
    $0
    Other
    $13,542
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $85,367
    Bonus
    $85,250
    Other
    $0
    Deferred
    $4,467
    Nontaxable benefits
    $9,075
    Filer's total
    $184,159

  • Mikey Mewborn

    VP, Seminary Dean

    Total calculated
    $128,307
    From this org
    $116,365
    From related orgs
    $0
    Other
    $11,942
    Hours/week
    40

  • Randy Redd

    VP for Institutional Advancement

    Total calculated
    $133,120
    From this org
    $118,557
    From related orgs
    $0
    Other
    $14,563
    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. 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

  • 1a · Housing allowance or residence for personal use

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Part I, Line 1a
Housing Allowance inlcuded in W-2 wages for Officers in the 2024 Calendar Year Mike Spradlin $42,000 Brad Thomson $36,000 Mikey Mewborn $31,100 Randy Redd $50,253

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
2024
Filed
26 February 2026
IRS schema version
2024v5.5
Source object
202640619349301049

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