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Nonprofiteer
← ASBURY THEOLOGICAL SEMINARY

Form 990 for tax year 2023

Filed by ASBURY THEOLOGICAL SEMINARY.

Totals

Total revenue
$45,282,439
Total expenses
$43,353,684
Contributions and grants received
$14,185,582
Grants paid
$10,916,121
Program service revenue
$24,872,767
Investment income
$6,224,090
Other revenue
$0
Total assets, end of year
$363,833,537
Total liabilities, end of year
$4,396,397
Net assets or fund balances, end of year
$359,437,140
Program services expenses (Part IX)
$35,026,767
Management and general expenses
$6,949,621
Fundraising expenses
$1,377,296
Program service expenses (Part III)
$35,026,767

Program services were 80.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Timothy C Tennent

    President

    Total calculated
    $394,193
    From this org
    $394,193
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,674
    Bonus
    $50,000
    Other
    $19,519
    Deferred
    $20,100
    Nontaxable benefits
    $10,330
    Filer's total
    $424,623

  • Jay Mansur

    Vice President

    Total calculated
    $209,840
    From this org
    $209,840
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,817
    Bonus
    $12,023
    Other
    $0
    Deferred
    $13,592
    Nontaxable benefits
    $11,283
    Filer's total
    $234,715

  • Gregg Okesson

    Vice President

    Total calculated
    $182,924
    From this org
    $182,924
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,201
    Bonus
    $12,023
    Other
    $12,700
    Deferred
    $10,958
    Nontaxable benefits
    $9,797
    Filer's total
    $203,679

  • Bryan P Blankenship

    Vice President & Treasurer

    Total calculated
    $165,265
    From this org
    $165,265
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,042
    Bonus
    $12,023
    Other
    $200
    Deferred
    $10,940
    Nontaxable benefits
    $15,258
    Filer's total
    $191,463

  • Kevin Bish

    Vice President

    Total calculated
    $161,215
    From this org
    $161,215
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,192
    Bonus
    $2,023
    Other
    $0
    Deferred
    $10,542
    Nontaxable benefits
    $2,988
    Filer's total
    $174,745

  • Tammy Hogan

    Vice President

    Total calculated
    $149,248
    From this org
    $149,248
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,315
    Bonus
    $12,423
    Other
    $1,510
    Deferred
    $9,009
    Nontaxable benefits
    $2,757
    Filer's total
    $161,014

  • Jay Barnes

    Vice President

    Total calculated
    $140,673
    From this org
    $140,673
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,406
    Bonus
    $12,023
    Other
    $12,244
    Deferred
    $8,125
    Nontaxable benefits
    $8,598
    Filer's total
    $157,396

  • Thomas McCall

    Faculty

    Total calculated
    $131,173
    From this org
    $131,173
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $91,800
    Bonus
    $3,023
    Other
    $36,350
    Deferred
    $5,967
    Nontaxable benefits
    $0
    Filer's total
    $137,140

  • Rurel Ausley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Debra McKenna Blews

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Michael W Burkhart

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dale S Ditto

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sherree Funk

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ricardo Gomez

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Andy Hurst

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Anna Jackson

    Trustee & Secretary

    Total calculated
    $0
    Hours/week
    1

  • Scott Lees

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • E Dale Locke

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Joao Carlos Lopes

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Steven G W Moore

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kyle Ray

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Charles Savage II

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Prabhu Singh

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Helen Rhea Stumbo

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Karen Thomas

    Trustee - Chair

    Total calculated
    $0
    Hours/week
    1

  • Amy Wasserbauer

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Werlein

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Linda Adams

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James Dunn

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Steve Elliott

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Elaine Friedrich

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • David Olshine

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Raglin

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jill Brue

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Greg Spillyards

    Trustee

    Total calculated
    $0
    Hours/week
    1

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 · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
The board of trustees approves the president's spouse salary and travel to assist in hospitality services. In addition, as a condition of employment and for convenience of the Seminary, the president is required to maintain housing at Rose Hill, the school owned home for the president. This condition is required so that the president and his wife can use the house for hospitality events involving Seminary guests. In addition, Rose Hill is used on occasion to house overnight guests of the Seminary. In exchange for this relationship, the use of Rose Hill as a residence is provided as a non-taxable fringe benefit for as long as this arrangement meets the requirements of the Internal Revenue Service

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

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
8 May 2025
IRS schema version
2023v6.0
Source object
202531289349303223

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

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