Northeastern Seminary
- Assets
- $9.3m
- Revenue
- $3.1m
- Investments
- $4.2m
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 09/1999
- Data as of
- 06/2023
- 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 06/2023, Northeastern Seminary generated $3.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. While expenses have increased by 5.8% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
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:
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 |
|---|---|---|---|
Deana Porterfield President (left 06/23) | Officer | 4 | $0 |
Laurie Leo VP Of Finance And CFO | Officer | 6 | $0 |
Alexander Jones VP Institutional Advancement | Officer | 2 | $0 |
Kristen Brown VP For Student And Organzation | Officer | 40 | $0 |
Benjamin Espinozastart 722 VP And Dean Of Northeastern Se | Officer | 40 | $0 |
Kevin W Mannoia Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,825 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,545,631 |
| Noncash contributions included in lines 1a–1f | $24,965 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,573,456 |
| Total Program Service Revenue | $1,392,176 |
| 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 | $3,063,769 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $153,164 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,084,431 |
| Pension plan accruals and contributions | $15,690 |
| Other employee benefits | $204,855 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,408 |
| Fees for services: Accounting | $14,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,599 |
| Advertising and promotion | $134,089 |
| Office expenses | $20,619 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,100 |
| Travel | $28,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,518 |
| Interest | $1,848 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,024 |
| Insurance | $5,400 |
| All other expenses | $139,392 |
| Total functional expenses | $2,733,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,127 |
| Savings and temporary cash investments | $1,013,622 |
| Pledges and grants receivable | $2,337,732 |
| Accounts receivable, net | $263,604 |
| 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 | $1,092,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,223,956 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $355,321 |
| Total assets | $9,289,773 |
| Accounts payable and accrued expenses | $675,248 |
| Grants payable | $0 |
| Deferred revenue | $83,707 |
| 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 | $1,348,549 |
| Total liabilities | $2,107,504 |
| Net assets without donor restrictions | $991,121 |
| Net assets with donor restrictions | $6,191,148 |
| 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 | $9,289,773 |