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Nonprofiteer
← MID-AMERICA BAPTIST THEOLOGICAL SEMINARY

Form 990 for tax year 2022

Filed by MID-AMERICA BAPTIST THEOLOGICAL SEMINARY.

Totals

Total revenue
$3,401,936
Total expenses
$6,342,391
Contributions and grants received
$1,717,923
Grants paid
$0
Program service revenue
$1,535,639
Investment income
$87,276
Other revenue
$61,098
Total assets, end of year
$23,539,749
Total liabilities, end of year
$3,337,656
Net assets or fund balances, end of year
$20,202,093
Program services expenses (Part IX)
$2,939,352
Management and general expenses
$2,651,364
Fundraising expenses
$751,675
Program service expenses (Part III)
$2,939,352

Program services were 46.3% 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

    $1,717,923

  • 2a · Program service revenue: TUITION & FEES

    total $1,431,106 · related or exempt $1,431,106

  • 2b · Program service revenue: AUXILIARY REVENUE

    total $97,207 · related or exempt $97,207

  • 2c · Program service revenue: MISC REVENUE:SPECIAL EVENTS

    total $7,325 · related or exempt $7,325

  • 2d · Program service revenue: MISC REVENUE

    total $1 · related or exempt $1

  • 3 · Investment income

    total $199,124 · excluded $199,124

  • 7b · Less cost or other basis and sales expenses

    other assets $111,848

  • 7c · Gain or loss

    other assets -$111,848

  • 7d · Net gain or loss

    total -$111,848 · related or exempt -$111,848

  • 11a · Other revenue: ADMIN.REIMBURSEMENT - MASH

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

  • 11b · Other revenue: MISC REVENUE

    total $6,098 · related or exempt $6,098

  • 11e · Other revenue, total

    $61,098

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $708,263 · program services $387,490 · management and general $279,197 · fundraising $41,576

  • 7 · Other salaries and wages

    total $2,102,175 · program services $1,150,113 · management and general $828,581 · fundraising $123,481

  • 8 · Pension plan contributions

    total $50,625 · program services $29,214 · management and general $19,147 · fundraising $2,264

  • 9 · Other employee benefits

    total $187,699 · program services $108,314 · management and general $70,989 · fundraising $8,396

  • 10 · Payroll taxes

    total $113,733 · program services $59,420 · management and general $41,994 · fundraising $12,319

  • 11c · Fees: accounting

    total $88,378 · program services $640 · management and general $87,738

  • 12 · Advertising and promotion

    total $20,263 · program services $1,614 · management and general $7,516 · fundraising $11,133

  • 13 · Office expenses

    total $77,994 · program services $18,706 · management and general $8,466 · fundraising $50,822

  • 14 · Information technology

    total $196,552 · program services $83,613 · management and general $102,669 · fundraising $10,270

  • 16 · Occupancy

    total $293,019 · management and general $289,681 · fundraising $3,338

  • 17 · Travel

    total $94,847 · program services $25,133 · management and general $48,818 · fundraising $20,896

  • 20 · Interest

    total $157,276 · program services $157,276

  • 22 · Depreciation, depletion and amortization

    total $504,562 · program services $233,837 · management and general $210,926 · fundraising $59,799

  • 23 · Insurance

    total $133,116 · management and general $133,116

  • 24a · Other expenses: CONTRACT LABOR OR SERVICE

    total $436,799 · program services $27,072 · management and general $226,579 · fundraising $183,148

  • 24b · Other expenses: SUBSIDIZED EXPENSES

    total $421,976 · program services $232,804 · management and general $66,552 · fundraising $122,620

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $143,484 · program services $143,484

  • 24d · Other expenses: PERIODICALS & JOURNALS

    total $92,528 · program services $92,528

  • 24e · All other expenses

    total $519,102 · program services $188,094 · management and general $229,395 · fundraising $101,613

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $86,089 · end of year $1,369

  • 2 · Savings and temporary cash investments

    beginning of year $1,672,048 · end of year $149,819

  • 4 · Accounts receivable

    beginning of year $79,180 · end of year $147,352

  • 7 · Other notes and loans receivable

    beginning of year $593,146 · end of year $575,896

  • 8 · Inventories for sale or use

    beginning of year $105,839 · end of year $80,378

  • 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

    $29,438,791

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

    $10,052,298

  • 10c · Land, buildings and equipment, net

    beginning of year $19,527,243 · end of year $19,386,493

  • 11 · Investments: publicly traded securities

    beginning of year $3,161,478 · end of year $3,070,641

  • 12 · Investments: other securities

    beginning of year $81,699 · end of year $51,202

  • 14 · Intangible assets

    end of year $58,064

  • 15 · Other assets

    beginning of year $218,620 · end of year $3,297

  • 17 · Accounts payable and accrued expenses

    beginning of year $275,047 · end of year $250,273

  • 25 · Other liabilities

    beginning of year $2,146,601 · end of year $3,087,383

  • 27 · Net assets without donor restrictions

    beginning of year $18,743,823 · end of year $15,582,082

  • 28 · Net assets with donor restrictions

    beginning of year $4,375,109 · end of year $4,620,011

Mission and programs · 2022

Mission

TO PROVIDE RELIGIOUS EDUCATION TO STUDENTS

  • ACADEMIC TRAINING IN MINISTRY - A COMBINED TOTAL OF 665 STUDENTS REGISTERED FOR THE FALL, SPRING AND SUMMER TERMS, TAKING A TOTAL FOR THE YEAR OF 5,686 CREDIT HOURS.

    Expenses $2,115,819 · Revenue $1,431,105

  • LIBRARY AND BOOKSTORE - PROVIDED RESEARCH AND INFORMATION TO STUDENTS (665 COMBINED FALL, SPRING AND SUMMER REGISTRATION) AND FACULTY.

    Expenses $351,104 · Revenue $104,534

  • STUDENT SERVICES - ASSISTED STUDENTS (665) COMBINED FALL, SPRING AND SUMMER REGISTRATION) AND FAMILIES WITH ALL AREAS PERTAINING TO CAMPUS LIFE.

    Expenses $454,657

  • OTHER PROGRAM ACTIVITIES (510 STUDENTS) - MISCELLANEOUS ACTIVITIES DIRECTLY RELATED TO OVERALL MISSION OF ORGANIZATION.

    Expenses $17,772

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Michael Spradlin

    PRESIDENT

    Total calculated
    $259,613
    From this org
    $243,076
    From related orgs
    $0
    Other
    $16,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,426
    Bonus
    $27,650
    Other
    $42,000
    Deferred
    $3,997
    Nontaxable benefits
    $12,540
    Filer's total
    $259,613

  • Dr Bradley Thompson

    EXECUTIVE VI

    Total calculated
    $256,210
    From this org
    $243,588
    From related orgs
    $0
    Other
    $12,622
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,938
    Bonus
    $57,650
    Other
    $36,000
    Deferred
    $4,127
    Nontaxable benefits
    $8,495
    Filer's total
    $256,210

  • Dr Randy Redd

    VP FOR FINAN

    Total calculated
    $195,654
    From this org
    $184,487
    From related orgs
    $0
    Other
    $11,167
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,080
    Bonus
    $18,781
    Other
    $49,626
    Deferred
    $2,672
    Nontaxable benefits
    $8,495
    Filer's total
    $195,654

  • Dr Mikey Newborn

    VP FOR INSTI

    Total calculated
    $195,345
    From this org
    $184,152
    From related orgs
    $0
    Other
    $11,193
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $98,902
    Bonus
    $37,250
    Other
    $48,000
    Deferred
    $2,698
    Nontaxable benefits
    $8,495
    Filer's total
    $195,345

  • Terry Brimhall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Curtiss Doss

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Eugene Howard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Roland Maddox

    VICE-CHAIRMA

    Total calculated
    $0
    Hours/week
    1

  • Keith Noble

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Richard Proctor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ray Skinner

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jimmie Williams

    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

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
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202411349349304381

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