Irbs Theological Seminary
- Assets
- $518.4k
- Revenue
- $423.4k
- Investments
- $294.6k
- Employees
- 6
- Location
- Mansfield, TX
- Founding
- 06/2018
- Data as of
- 06/2021
- EIN
- 82-4445833
Organization Overview
Irbs Theological Seminary is located in Mansfield, TX. The organization was established in 2018. 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 06/2021, Irbs Theological Seminary employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Irbs 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 06/2021, Irbs Theological Seminary generated $423.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $390.0k during the year ending 06/2021. 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
THE SEMINARY IS COMMITTED TO ASSISTING REFORMED BAPTIST CHURCHES, AND OTHERS, IN PREPARING MEN FOR THE GOSPEL MINISTRY. IT WILL SERVE A GLOBAL CONSTITUENCY, OFFERING THE MASTER OF DIVINITY DEGREE, PROVIDING ROBUST ACADEMIC PREPARATION IN THE NECESSARY THEOLOGICAL AND MINISTERIAL DISCIPLINES. EMPLOYING A THREE-FOLD STRATEGY OF LECTURE-BASED COURSES, INTERNSHIPS, AND APPRENTICESHIPS, IT WILL GRADUATE MEN READY TO SERVE IN CHURCHES AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SEMINARY COMMENCED INITIATION OF COURSE OFFERINGS AND DEGREE PROGRAMS. THE SEMINARY SERVES STUDENTS THROUGH DISTANCE EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Renihan President | Officer | 40 | $56,426 |
Stephen Means Treasurer Of The Board | Officer | 1 | $0 |
Fred Pugh Chairman Of The Board | Officer | 1 | $0 |
Jason Walter Secretary Of The Board | Officer | 1 | $0 |
Frank Strickland Accountant And Business Ma | Trustee | 1 | $0 |
Ben Scofield Accountant And Business Manager | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $322,257 |
| Investment income | $2,148 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,272 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $423,384 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $208,322 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $56,287 |
| Payroll taxes | $6,077 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,496 |
| Fees for services: Other | $1,795 |
| Advertising and promotion | $368 |
| Office expenses | $2,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,113 |
| Insurance | $906 |
| All other expenses | $0 |
| Total functional expenses | $389,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,855 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $294,556 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $518,379 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $38,434 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,160 |
| Total liabilities | $80,594 |
| 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 | $437,785 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Irbs Theological Seminary has recieved totaling $534.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $534 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Parker University Dallas, TX | $134,020,772 | $70,650,236 |
Dallas Theological Seminary Dallas, TX | $131,702,199 | $46,931,578 |
South Texas College Of Law Houston Inc Houston, TX | $112,553,219 | $46,352,158 |
Baptist Community Ministries New Orleans, LA | $0 | $15,001,748 |
Brite Divinity School Fort Worth, TX | $131,791,900 | $16,856,485 |
Dallas Seminary Foundation Vision Fund Dallas, TX | $4,584,823 | $10,722,757 |
Grace School Of Theology The Woodlands, TX | $1,343,724 | $6,038,036 |
Rio Grande Bible Institute Inc Edinburg, TX | $14,715,494 | $6,700,846 |
Robert O Anderson School And Graduate School Of Management Foun Albuquerque, NM | $0 | $273,602 |
Academy For The Love Of Learning Inc Santa Fe, NM | $22,846,093 | $2,334,127 |
Ayurvedic Institute Albuquerque, NM | $4,339,366 | $2,514,881 |
Dallas International University Dallas, TX | $5,420,803 | $2,599,528 |