Shepherds Theological Seminary Inc
- Assets
- $1.6m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 25
- Location
- Cary, NC
- Founding
- 09/2004
- Data as of
- 06/2022
- EIN
- 20-0180768
Organization Overview
Shepherds Theological Seminary Inc is located in Cary, NC. The organization was established in 2004. 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 06/2022, Shepherds Theological Seminary Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shepherds Theological Seminary Inc 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 06/2022, Shepherds Theological Seminary Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $2.9m during the year ending 06/2022. While expenses have increased by 12.5% 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 TRAIN MEN AND WOMEN FOR MINISTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHEPHERDS THEOLOGICAL SEMINARY IS AN ACCREDITED GRADUATE SCHOOL PROVIDING QUALITY ACADEMIC AND THEOLOGICAL TRAINING FOR STUDENTS DESIRING TO SERVE IN LEADERSHIP ROLES AT CHURCHES, NON-PROFITS, AND OTHER FAITH-BASED ORGANIZATIONS. DURING THE 2021-2022 ACADEMIC YEAR, STS WAS ENGAGED IN GRADUATE EDUCATION AT THREE SITES. AT ITS CARY, NC CAMPUS, STS PROVIDED A TOTAL OF 62 COURSES RANGING FROM 1 TO 21 STUDENTS ENROLLED. THESE COURSES INCLUDE TRADITIONAL ACADEMIC COURSES ON THEOLOGY, HISTORY, PHILOSOPHY, AND BIBLICAL LANGUAGES, THESES COURSES, PRACTICAL MINISTRY COURSES, INDIVIDUAL INTERSHIPS, AND INDEPENDENT STUDY COURSES. THE WEST INSTITUTE OF STS, A TEACHING SITE LOCATED IN LARAMIE WY, PROVIDED A TOTAL OF 17 CLASSROOM COURSES RANGING FROM 5 TO 23 STUDENTS ENROLLED. ADDITIONALLY, THE STS TEACHING SITE IN BRYAN, TX, PROVIDED A TOTAL OF 2 COURSES WITH 6 STUDENTS ENROLLED IN EACH. IN TOTAL, THE FOLLOWING NUMBERS OF STUDENTS PARTICIPATED IN PROGRAMS AT STS: 132 GRADUATE STUDENTS (DEGREE/CREDIT SEEKING) AND 34 NON-DEGREE-SEEKING/AUDIT STUDENT. STS DELIVERED 2,044 TOTAL CREDIT HOURS OF INSTRUCTION, OF WHICH 298 CREDITS WERE TAUGHT VIA DISTANCE EDUCATION. STS HAD 8 GRADUATES IN MAY, 24 GRADUATES IN AUGUST, AND 1 IN DECEMBER WHO WERE PARTICIPATING IN A VARIETY OF MINISTRIES, INCLUDING THE FOLLOWING: PASTORS, ASSISTANT PASTORS, CHURCH PLANTERS, MISSIONARIES, BIBLICAL COUNSELORS, LAY-COUNSELORS, NON-PROFIT WORKERS, AND LOCAL-CHURCH VOLUNTEERS. SIMILARLY, STS'S ALUMNI SERVE IN ALL AREAS OF LOCAL CHURCH MINISTRY, PARA-CHURCH MINISTRIES, FOREIGN MINISTRIES, AND DOCTORAL PROGRAMS AND ACADEMIC APPOINTMENTS.
OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Sigler Provost Dean | 40 | $113,300 | |
Thomas Pittman VP Of Academ | Officer | 40 | $85,000 |
Ewart Hodgins CFO | Officer | 20 | $63,040 |
Al Potter VP Of Advanc | Officer | 40 | $37,937 |
Bobby Godfrey Chairman Of | OfficerTrustee | 1 | $0 |
Pam Gerace Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $736,261 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,235,047 |
| Noncash contributions included in lines 1a–1f | $396,070 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,971,308 |
| Total Program Service Revenue | $1,022,628 |
| 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 | $79,563 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,082,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $72,978 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $185,977 |
| Compensation of current officers, directors, key employees. | $63,040 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,337,100 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $213,060 |
| Payroll taxes | $132,814 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $130,334 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $273,714 |
| Travel | $33,970 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,990 |
| Insurance | $0 |
| All other expenses | $9,104 |
| Total functional expenses | $2,949,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,147,686 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,193 |
| 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 | $79,107 |
| Net Land, buildings, and equipment | $287,096 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $86,800 |
| Total assets | $1,634,882 |
| Accounts payable and accrued expenses | $496,564 |
| Grants payable | $0 |
| Deferred revenue | $22,445 |
| 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 | $62,127 |
| Total liabilities | $581,136 |
| Net assets without donor restrictions | $488,889 |
| Net assets with donor restrictions | $564,857 |
| 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 | $1,634,882 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Shepherds Theological Seminary Inc has recieved totaling $152,510.
| Awarding Organization | Amount |
|---|---|
Ludwig Family Foundation Cary, NC PURPOSE: GENERAL FUNDS | $60,000 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $49,500 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $35,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $7,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $940 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $70 |
Endowment Analysis
| Beg. Balance | $123,204 |
| Net Contributions | $17,292 |
| Other Expense | -$17,947 |
| Ending Balance | $122,549 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Memorial College Of Health Sciences Inc Memphis, TN | $55,747,053 | $20,446,298 |
Sherman College Of Straight Chiropractic Inc Spartanburg, SC | $45,133,899 | $16,948,617 |
Interdenominational Theological Center Inc Atlanta, GA | $16,432,791 | $10,752,474 |
Middle Tennessee School Of Anesthesia Inc Madison, TN | $22,533,334 | $7,937,391 |
Johnson University Knoxville, TN | $1,750,926 | $5,010,332 |
Mid-America Baptist Theological Seminary Cordova, TN | $25,540,580 | $5,422,482 |
Luther Rice University Inc Lithonia, GA | $7,749,300 | $4,580,851 |
Hood Theological Seminary Salisbury, NC | $17,605,409 | $4,185,310 |
Nashville School Of Law Nashville, TN | $7,415,202 | $3,898,792 |
Shepherds Theological Seminary Inc Cary, NC | $1,634,882 | $3,082,209 |
Hartland Institute Of Health And Education Rapidan, VA | $6,024,120 | $2,045,096 |
Watts College Of Nursing Inc Durham, NC | $19,579 | $1,750,259 |