Southern Evangelical Seminary Inc
- Assets
- $5.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 23
- Location
- Charlotte, NC
- Founding
- 09/1992
- Data as of
- 06/2022
- EIN
- 56-1764649
Organization Overview
Southern Evangelical Seminary Inc is located in Charlotte, NC. The organization was established in 1992. 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, Southern Evangelical Seminary Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Evangelical 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, Southern Evangelical Seminary Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 1.0% 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
EDUCATION - SEMINARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GRADUATE DEGREE PROGRAMS TO TRAIN CHRISTIANS FOR EVANGELISM AND APOLOGETICS
PROVIDE GRADUATE DEGREE PROGRAMS TO TRAIN CHRISTIANS FOR EVANGELISM AND APOLOGETICS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Ginn President | OfficerTrustee | 40 | $52,667 |
David Jamison Chair | OfficerTrustee | 1 | $0 |
Duke Hale Secretary Treasurer | OfficerTrustee | 1 | $0 |
Stacey Jacobs Director | Trustee | 1 | $0 |
Corey Furman Director | Trustee | 1 | $0 |
Steve Lundberg Director | Trustee | 1 | $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 | $893,710 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $893,710 |
| Total Program Service Revenue | $862,299 |
| Investment income | $60 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $125,096 |
| Net Gain/Loss on Asset Sales | $1,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,882,665 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,016,324 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $60,411 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,808 |
| Advertising and promotion | $87,860 |
| Office expenses | $24,867 |
| Information technology | $37,149 |
| Royalties | $0 |
| Occupancy | $20,599 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,294 |
| Interest | $6 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,083 |
| Insurance | $25,707 |
| All other expenses | $248,288 |
| Total functional expenses | $1,871,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,972 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,696 |
| 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 | $19,446 |
| Net Land, buildings, and equipment | $3,880,548 |
| Investments—publicly traded securities | $2,185 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $965,975 |
| Total assets | $5,069,822 |
| Accounts payable and accrued expenses | $21,043 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $200,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,200 |
| Total liabilities | $227,243 |
| Net assets without donor restrictions | $4,837,516 |
| Net assets with donor restrictions | $5,063 |
| 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 | $5,069,822 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Southern Evangelical Seminary Inc has recieved totaling $157,258.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $145,345 |
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $11,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $913 |
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 |