City Seminary Of New York
- Assets
- $8.5m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 15
- Location
- New York, NY
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 26-0030436
Organization Overview
City Seminary Of New York is located in New York, NY. The organization was established in 2002. 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 12/2021, City Seminary Of New York employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City Seminary Of New York 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 12/2021, City Seminary Of New York generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 9.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION ENGAGES IN THE TEACHING AND TRAINING OF URBAN MINISTRY IN NEW YORK CITY AND OTHER URBAN AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH COURSES, STUDENTS LEARN SKILLS AND TECHNIQUES TO HELP THEM AID AND ENCOURAGE THE SPIRITUAL GROWTH OF INDIVIDUALS IN URBAN SETTINGS. THE PROGRAM TARGETS INDIVIDUALS WHO LIVE IN THE OUTER BOROUGHS OF NEW YORK CITYAND OTHER URBAN AREAS, WHERE THESE STUDENTS CAN GIVE BACK DIRECTLY TO THEIR COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark R Gornik President | OfficerTrustee | 40 | $190,000 |
Jeff White Treasurer | OfficerTrustee | 1 | $0 |
Bola Oyesanya Chairperson | OfficerTrustee | 1 | $0 |
Biju George Director | Trustee | 1 | $0 |
Marjorie Calvert Director | Trustee | 1 | $0 |
Derrick Miu Secretary | 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 | $5,685,722 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,685,722 |
| Total Program Service Revenue | $31,032 |
| Investment income | $10,870 |
| 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 | $5,727,624 |
| 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. | $190,000 |
| Compensation of current officers, directors, key employees. | $28,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $773,849 |
| Pension plan accruals and contributions | $7,704 |
| Other employee benefits | $84,532 |
| Payroll taxes | $65,003 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,584 |
| Fees for services: Accounting | $14,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,000 |
| Advertising and promotion | $0 |
| Office expenses | $35,591 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $444,272 |
| Travel | $6,578 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,069 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,587 |
| Insurance | $38,618 |
| All other expenses | $95,680 |
| Total functional expenses | $2,396,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,753,525 |
| Savings and temporary cash investments | $4,008,308 |
| Pledges and grants receivable | $6,800 |
| 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 | $24,268 |
| Net Land, buildings, and equipment | $901,363 |
| Investments—publicly traded securities | $136,222 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $703,430 |
| Total assets | $8,533,916 |
| Accounts payable and accrued expenses | $22,018 |
| 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 | $69,650 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $405,613 |
| Total liabilities | $497,281 |
| Net assets without donor restrictions | $5,947,155 |
| Net assets with donor restrictions | $2,089,480 |
| 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 | $8,533,916 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that City Seminary Of New York has recieved totaling $125,000.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $100,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Architectural College Boston, MA | $43,735,977 | $21,122,754 |
Rabbi Isaac Elchanan Theological Seminary New York, NY | $154,914,739 | $24,312,479 |
Webb Institute Glen Cove, NY | $108,979,783 | $22,554,419 |
Clark Summit University Clarks Summit, PA | $12,253,431 | $11,847,715 |
Rosedale Technical College Pittsburgh, PA | $9,955,350 | $10,972,229 |
Sackler School Of Medicine New York, NY | $3,810,351 | $9,320,787 |
New York Academy Of Art New York, NY | $18,557,370 | $9,146,405 |
Auburn Theological Seminary New York, NY | $28,146,377 | $5,237,023 |
Hartford International University For Religion And Peace Hartford, CT | $70,630,501 | $3,322,795 |
Massachusetts School Of Law At Andover Andover, MA | $10,679,528 | $4,847,415 |
New York Theological Seminary New York, NY | $2,378,321 | $4,439,036 |
Yeshiva Derech Chaim Brooklyn, NY | $2,751,947 | $4,396,697 |