Faith School Of Theology
- Assets
- $3.9m
- Revenue
- $1.5m
- Investments
- $9.3k
- Employees
- 73
- Location
- Charleston, ME
- Founding
- 03/1983
- Data as of
- 05/2022
- EIN
- 01-0377494
Organization Overview
Faith School Of Theology, operating under the name Faith Bible College International, is located in Charleston, ME. The organization was established in 1983. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 05/2022, Faith Bible College International employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith Bible College International is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Faith Bible College International generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $1.5m during the year ending 05/2022. While expenses have increased by 10.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MENTOR STUDENTS FOR SPIRIT-FILLED LEADERSHIP IN MINISTRY, IN LIGHT OF THE GREAT COMMISSION. WHILE ACADEMICS ARE IMPORTANT, THE CLASSROOMS ARE NOT THE ONLY LEARNING PLACE. THROUGH A COMBINATION OF FORMAL INSTRUCTION, CHAPEL SERVICES, PRACTICAL EXPERIENCE, PERSONAL INTERACTION, AND DISCIPLESHIP, FAITH AIMS TO DEVELOP THE INNER MAN. FAITH 'S PURPOSE IS TO PRODUCE SPIRIT-FILLED LEADERS. AT FAITH, THE BIBLE IS THE CHIEF TEXTBOOK AND JESUS IS THE SOVEREIGN LORD. SPECIAL EMPHASIS IS PLACED UPON THE STUDENT'S RELATIONSHIP WITH GOD AND THE SANCTIFYING PROCESS WHICH OCCURS IN THE BELIEVER'S HEART. A CONSTANT SPIRIT OF REVIVAL PERVADES THE ATMOSPHERE. THE NAME OF JESUS CHRIST IS MAGNIFIED. THE HOLY SPIRIT IS INVITED TO INTERRUPT THE DAILY ROUTINE AT ANY TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THEOLOGICAL STUDIES THROUGH FORMAL INSTRUCTION, CHAPEL SERVICES, PRACTICAL EXPERIENCE, PERSONAL INTERACTION, AND DISCIPLESHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Matthew M Ward President | OfficerTrustee | 40 | $26,463 |
Rev Gary A Stearn Secretary | OfficerTrustee | 1 | $0 |
Rev Garry L Hamilton Vice Chair | OfficerTrustee | 1 | $0 |
Dr Jeffery Williams Chair | OfficerTrustee | 1 | $0 |
Rev Greg Dunlop Treasurer | OfficerTrustee | 1 | $0 |
Rev Edward C Michael Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $983,867 |
| Noncash contributions included in lines 1a–1f | $7,320 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $983,867 |
| Total Program Service Revenue | $551,827 |
| Investment income | $246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,531,230 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $52,181 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $26,463 |
| Compensation of current officers, directors, key employees. | $9,262 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $624,961 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $49,834 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,566 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,589 |
| Advertising and promotion | $27,378 |
| Office expenses | $54,015 |
| Information technology | $6,495 |
| Royalties | $0 |
| Occupancy | $208,682 |
| Travel | $2,124 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,154 |
| Interest | $7,895 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,940 |
| Insurance | $17,549 |
| All other expenses | $53,561 |
| Total functional expenses | $1,485,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,026 |
| Savings and temporary cash investments | $422,840 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,448 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,772,763 |
| Investments—publicly traded securities | $27,965 |
| Investments—other securities | $9,327 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $345,255 |
| Total assets | $3,890,624 |
| Accounts payable and accrued expenses | $88,712 |
| Grants payable | $0 |
| Deferred revenue | $19,114 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $557,313 |
| Other liabilities | $20,550 |
| Total liabilities | $685,689 |
| Net assets without donor restrictions | $2,781,873 |
| Net assets with donor restrictions | $423,062 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,890,624 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Faith School Of Theology has recieved totaling $28.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $28 |
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