Indianapolis Theological Seminary
- Assets
- $469.3k
- Revenue
- $612.8k
- Investments
- $0.0
- Employees
- 10
- Location
- Indianapolis, IN
- Founding
- 03/2017
- Data as of
- 08/2021
- EIN
- 47-5669999
Organization Overview
Indianapolis Theological Seminary is located in Indianapolis, IN. The organization was established in 2017. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 08/2021, Indianapolis Theological Seminary employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indianapolis Theological 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 08/2021, Indianapolis Theological Seminary generated $612.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 69.4% each year . All expenses for the organization totaled $479.1k during the year ending 08/2021. While expenses have increased by 70.2% per year over the past 5 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
INDIANAPOLIS THEOLOGICAL SEMINARY EXISTS TO COLLABORATE WITH LOCAL CHURCHES FOR BIBLICAL AND THEOLOGICAL TRAINING BY PROVIDING SEMINARY LEVEL CLASSES AND CURRICULUM FOR CHRISTIANS SEEKING TO BE PASTORS AND OTHER LEADERS IN CHURCHES AND MINISTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDIANAPOLIS THEOLOGICAL SEMINARY (ITS) IS ONLY SIX YEARS OLD AND ENROLLMENT CONTINUES TO GROW. TUITION REVENUE ONLY COVERS 28% OF THE COST OF OPERATING THE SEMINARY. ACTIVE STUDENTS INCREASED SLIGHTLY OVER THE PREVIOUS YEAR IN SPITE OF COVID RELATED CHALLENGES, AVERGING 91. ITS HAD ITS FIRST GRADUATE IN THE SPRING OF 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Piotrowski President & Academic Dean | OfficerTrustee | 40 | $98,721 |
Kevin Mcclure Secretary & Adjunct Professor | OfficerTrustee | 1 | $4,050 |
Roger Williams Director & Adjunct Professor | Trustee | 20 | $4,050 |
Jym Gregory Director & Adjunct Professor | Trustee | 20 | $3,300 |
Ryan Griffith Director & Adjunct Professor | Trustee | 20 | $1,652 |
Rob Wingerter Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $38,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $440,590 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $478,790 |
| Total Program Service Revenue | $133,206 |
| Investment income | $840 |
| 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 | $612,836 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $98,722 |
| Compensation of current officers, directors, key employees. | $9,872 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $236,011 |
| Pension plan accruals and contributions | $3,764 |
| Other employee benefits | $673 |
| Payroll taxes | $22,165 |
| Fees for services: Management | $7,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,849 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,935 |
| Information technology | $12,767 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,748 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,968 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,577 |
| Insurance | $2,733 |
| All other expenses | $3,112 |
| Total functional expenses | $479,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $102,862 |
| Savings and temporary cash investments | $325,167 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,422 |
| 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 | $9,935 |
| Net Land, buildings, and equipment | $13,910 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $469,296 |
| Accounts payable and accrued expenses | $5,547 |
| Grants payable | $0 |
| Deferred revenue | $47,811 |
| 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 | $1,747 |
| Total liabilities | $55,105 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $414,191 |
| Total liabilities and net assets/fund balances | $469,296 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Indianapolis Theological Seminary has recieved totaling $103,000.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $92,250 |
Joshua Foundation Inc Zionsville, IN PURPOSE: GENERAL OPERATING EXPENSES | $10,000 |
The Palmer Family Foundation Carmel, IN PURPOSE: GENERAL FUND | $750 |
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