Chafer Theological Seminary
- Assets
- $620.3k
- Revenue
- $403.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Albuquerque, NM
- Founding
- 01/2005
- Data as of
- 12/2022
- EIN
- 20-0403281
Organization Overview
Chafer Theological Seminary is located in Albuquerque, NM. The organization was established in 2005. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical 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. Chafer 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 12/2022, Chafer Theological Seminary generated $403.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $254.5k during the year ending 12/2022. While expenses have increased by 9.7% per year over the past 6 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
CHAFER THEOLOGICAL SEMINARY EXISTS TO TRAIN STUDENTS IN THE USE OF THE ORIGINAL LANGUAGES OF SCRIPTURE AND DOING THEOLOGY BASED ON THEIR EXEGESIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFERED TWO FULL SEMESTERS OF EDUCATION FOR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Clough Chairman | OfficerTrustee | 2 | $0 |
Hal Hagemeier Secretary | OfficerTrustee | 2 | $0 |
Daniel Inghram Director | Trustee | 2 | $0 |
Robert Dean Jr Vice-Chairma | OfficerTrustee | 2 | $0 |
Jim Macgillivray Director | Trustee | 2 | $0 |
Bradley Maston Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $133,654 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $213,892 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $347,546 |
| Total Program Service Revenue | $55,355 |
| Investment income | $159 |
| 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 | $403,060 |
| 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 | $55,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,221 |
| Payroll taxes | $4,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $150,530 |
| Advertising and promotion | $400 |
| Office expenses | $2,375 |
| Information technology | $14,602 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $4,092 |
| All other expenses | $0 |
| Total functional expenses | $254,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,434 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,523 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,332 |
| Total assets | $620,289 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,440 |
| Total liabilities | $6,440 |
| Net assets without donor restrictions | $613,849 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $620,289 |