Skip to content
Nonprofiteer
← ASBURY THEOLOGICAL SEMINARY

Form 990 for tax year 2024

Filed by ASBURY THEOLOGICAL SEMINARY.

Totals

Total revenue
$50,655,245
Total expenses
$44,324,886
Contributions and grants received
$13,787,006
Grants paid
$12,421,029
Program service revenue
$24,603,494
Investment income
$12,264,745
Other revenue
$0
Total assets, end of year
$375,021,059
Total liabilities, end of year
$4,612,129
Net assets or fund balances, end of year
$370,408,930
Program services expenses (Part IX)
$36,807,743
Management and general expenses
$6,224,326
Fundraising expenses
$1,292,817
Program service expenses (Part III)
$36,807,743

Program services were 83.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Timothy Tennent

    Facalty

    Total calculated
    $246,714
    From this org
    $246,714
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,476
    Bonus
    $0
    Other
    $29,238
    Deferred
    $14,185
    Nontaxable benefits
    $10,026
    Filer's total
    $270,925

  • Jay Mansur

    Vice President

    Total calculated
    $201,866
    From this org
    $201,866
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,341
    Bonus
    $0
    Other
    $525
    Deferred
    $15,076
    Nontaxable benefits
    $14,035
    Filer's total
    $230,977

  • Kevin Bish

    Vice President

    Total calculated
    $177,530
    From this org
    $177,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,530
    Bonus
    $15,000
    Other
    $0
    Deferred
    $11,693
    Nontaxable benefits
    $4,510
    Filer's total
    $193,733

  • Jay Barnes

    Vice President

    Total calculated
    $159,243
    From this org
    $159,243
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,354
    Bonus
    $0
    Other
    $42,889
    Deferred
    $9,013
    Nontaxable benefits
    $12,406
    Filer's total
    $180,662

  • Bryan P Blankenship

    Vice President & Treasurer

    Total calculated
    $157,566
    From this org
    $157,566
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,166
    Bonus
    $0
    Other
    $400
    Deferred
    $12,135
    Nontaxable benefits
    $16,186
    Filer's total
    $185,887

  • Emilio Alvarez

    Faculty

    Total calculated
    $148,171
    From this org
    $148,171
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $101,846
    Bonus
    $0
    Other
    $46,325
    Deferred
    $8,788
    Nontaxable benefits
    $7,222
    Filer's total
    $164,181

  • Gregg Okesson

    Faculty

    Total calculated
    $146,442
    From this org
    $146,442
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,934
    Bonus
    $0
    Other
    $28,508
    Deferred
    $9,481
    Nontaxable benefits
    $10,006
    Filer's total
    $165,929

  • John Ragsdale

    Vice President

    Total calculated
    $145,446
    From this org
    $145,446
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,446
    Bonus
    $0
    Other
    $24,000
    Deferred
    $8,761
    Nontaxable benefits
    $3,708
    Filer's total
    $157,915

  • David Gyertson

    President

    Total calculated
    $125,360
    From this org
    $125,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,998
    Bonus
    $0
    Other
    $362
    Deferred
    $8,750
    Nontaxable benefits
    $0
    Filer's total
    $134,110

  • Rurel Ausley

    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

  • E Dale Locke

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Joao Carlos Lopes

    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

  • Kenneth Werlein

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James Dunn

    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

  • Rodney Adams

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Robin Lim

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lyndol Loyd

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Peter Marra

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Amy Wasserbauer

    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

The 10 largest by cash amount. The API serves every itemized grant.

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
13 May 2026
IRS schema version
2024v5.0
Source object
202611339349302426

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.