Episcopal Divinity School
- Assets
- $87.6m
- Revenue
- $2.5m
- Investments
- $19.1m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1962
- Data as of
- 06/2022
- EIN
- 04-2105768
Organization Overview
Episcopal Divinity School is located in New York, NY. The organization was established in 1962. 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. Episcopal Divinity School 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, Episcopal Divinity School generated $2.5m 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 (10.7%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 5 years. 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 OF PERSONS FOR POSITIONS OF LEADERSHIP IN THE CHRISTIAN DENOMINATIONS, AND PARTICULARLY THE EPISCOPAL CHURCH, AND FOR THE MINISTRY THEREOF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EPISCOPAL THEOLOGICAL SEMINARY WAS ESTABLISHED IN 1867, AND IN 1974 RESTATED ITS ARTICLES OF ORGANIZATION TO CHANGE ITS NAME TO EPISCOPAL DIVINITY SCHOOL UPON ITS MERGER WITH PHILADELPHIA DIVINITY SCHOOL. THE PURPOSE OF THE SCHOOL IS TO EDUCATE LAY AND ORDAINED LEADERS FOR CHRIST'S CHURCH AND FOR THE WORLD WHO SERVE AND ADVANCE GOD'S MISSION OF JUSTICE, COMPASSION, AND RECONCILIATION. THE SCHOOL'S BOARD OF TRUSTEES VOTED ON JULY 21, 2016 TO CEASE GRANTING DEGREES AFTER THE 2016-2017 ACADEMIC YEAR. THE SCHOOL ENTERED INTO AN AFFILIATION AGREEMENT, EFFECTIVE JULY 1, 2017, WITH UNION THEOLOGICAL SEMINARY (UNION). UNION IS A SEMINARY AND A GRADUATE SCHOOL OF THEOLOGY IN NEW YORK CITY. THE AFFILIATION AGREEMENT HAS AN INITIAL TERM THROUGH JUNE 30, 2028, AND ALLOWS FOR RENEWALS FOR SUCCESSIVE TEN-YEAR PERIODS. THE AFFILIATION AGREEMENT PROVIDES FOR THE ESTABLISHMENT OF A PROGRAM AT UNION ENTITLED EPISCOPAL DIVINITY SCHOOL AT UNION THEOLOGICAL SEMINARY (THE PROGRAM). STUDENTS WHO ENROLL IN THE PROGRAM AT UNION WILL EARN GRADUATE DEGREES FROM UNION AND ALSO FULFILL REQUIREMENTS FOR ORDINATION IN THE EPISCOPAL CHURCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
The Canon Dr Bonnie Anderson Trustee | Trustee | 1 | $0 |
Robert Bottoms Trustee | Trustee | 1 | $0 |
Mr J Ralph Cole Trustee | Trustee | 1 | $0 |
The Rev Victor Conrado Trustee | Trustee | 1 | $0 |
The Very Rev Gary Hall PHD Trustee | Trustee | 1 | $0 |
The Rev Matthew Heyd Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Llc Consulting Services | 6/29/22 | $224,583 |
Union Theological Seminary Uts Program Fees | 6/29/22 | $2,589,596 |
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 | $321,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $321,788 |
| Total Program Service Revenue | $0 |
| Investment income | $707,163 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $612,002 |
| Net Gain/Loss on Asset Sales | $809,307 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,466,761 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,601 |
| Fees for services: Accounting | $64,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $323,806 |
| Fees for services: Other | $26,000 |
| Advertising and promotion | $0 |
| Office expenses | $5,757 |
| Information technology | $40 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,462 |
| 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 | $9,981 |
| Insurance | $42,950 |
| All other expenses | $21,539 |
| Total functional expenses | $3,141,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,605,517 |
| Savings and temporary cash investments | $3,567,009 |
| 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 | $1,000 |
| Net Land, buildings, and equipment | $10,978 |
| Investments—publicly traded securities | $48,138,921 |
| Investments—other securities | $19,143,407 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,171,379 |
| Total assets | $87,638,211 |
| Accounts payable and accrued expenses | $257,540 |
| Grants payable | $0 |
| Deferred revenue | $3,186,001 |
| 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 | $0 |
| Total liabilities | $3,443,541 |
| Net assets without donor restrictions | $48,691,236 |
| Net assets with donor restrictions | $35,503,434 |
| 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 | $87,638,211 |