Northeastern Seminary
- Assets
- $8.4m
- Revenue
- $2.0m
- Investments
- $4.9m
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 09/1999
- Data as of
- 06/2021
- EIN
- 16-1554414
Organization Overview
Northeastern Seminary is located in Rochester, NY. The organization was established in 1999. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeastern Seminary 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 06/2021, Northeastern Seminary generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $2.1m during the year ending 06/2021. While expenses have increased by 2.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ROOTED IN BIBLICAL AND HISTORIC CHRISTIAN FAITH, NORTHEASTERN SEMINARY PREPARES CHRIST-CENTERED MEN AND WOMEN FOR FAITHFUL, EFFECTIVE MINISTRY TO THE CHURCH AND WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PREPARE MEN AND WOMEN FOR CHRISTIAN MINISTRY, BOTH LAY AND ORDAINED ROOTED IN CLASSICAL CHRISTIAN FAITH, THE SEMINARY CREATIVELY SEEKS TO EQUIP ITS STUDENTS FOR MINISTRY TO CONTEMPORARY CULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy J Harner Secretary | OfficerTrustee | 2 | $0 |
Holly M Hillberg Vice Chair | OfficerTrustee | 2 | $0 |
Terry R Taber Vice Chair | OfficerTrustee | 2 | $0 |
Deana Porterfield President | Officer | 4 | $0 |
Laurie Leo Chief Financial Officer | Officer | 5 | $0 |
Alexander Jones VP For Institutional Adv | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $429,862 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,030,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $170,930 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,092,735 |
| Pension plan accruals and contributions | $7,914 |
| Other employee benefits | $195,935 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,734 |
| Fees for services: Accounting | $13,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,539 |
| Advertising and promotion | $117,109 |
| Office expenses | $45,458 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,459 |
| Travel | $5,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $431 |
| Interest | $108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,306 |
| Insurance | $5,113 |
| All other expenses | $0 |
| Total functional expenses | $2,103,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,125 |
| Savings and temporary cash investments | $450,813 |
| Pledges and grants receivable | $1,215,603 |
| Accounts receivable, net | $290,117 |
| 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 | $302 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,865,892 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $420,150 |
| Total assets | $8,384,762 |
| Accounts payable and accrued expenses | $84,621 |
| Grants payable | $0 |
| Deferred revenue | $128,262 |
| 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 | $0 |
| Other liabilities | $1,020,191 |
| Total liabilities | $1,233,074 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $7,151,688 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Northeastern Seminary has recieved totaling $80,668.
| Awarding Organization | Amount |
|---|---|
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $49,995 |
Guidestream Charitable Gift Fund Spring Arbor, MI PURPOSE: Charitable Grant | $20,650 |
Chatlos Foundation Inc New York, NY PURPOSE: TO PROVIDE SCHOLARSHIP SUPPORT FOR FEMALE AND MINORITY STUDENTS | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $23 |
Endowment Analysis
| Beg. Balance | $6,277,744 |
| Earnings | -$365,125 |
| Net Contributions | $21,781 |
| Grants | $194,198 |
| Ending Balance | $5,740,202 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Architectural College Boston, MA | $43,735,977 | $21,122,754 |
Rabbi Isaac Elchanan Theological Seminary New York, NY | $154,914,739 | $24,312,479 |
Webb Institute Glen Cove, NY | $108,979,783 | $22,554,419 |
Clark Summit University Clarks Summit, PA | $12,253,431 | $11,847,715 |
Rosedale Technical College Pittsburgh, PA | $9,955,350 | $10,972,229 |
Sackler School Of Medicine New York, NY | $3,810,351 | $9,320,787 |
New York Academy Of Art New York, NY | $18,557,370 | $9,146,405 |
Auburn Theological Seminary New York, NY | $28,146,377 | $5,237,023 |
Hartford International University For Religion And Peace Hartford, CT | $70,630,501 | $3,322,795 |
Massachusetts School Of Law At Andover Andover, MA | $10,679,528 | $4,847,415 |
New York Theological Seminary New York, NY | $2,378,321 | $4,439,036 |
Yeshiva Derech Chaim Brooklyn, NY | $2,751,947 | $4,396,697 |