Bible Seminary
- Assets
- $336.5k
- Revenue
- $962.4k
- Investments
- $0.0
- Employees
- 10
- Location
- Katy, TX
- Founding
- 08/2010
- Data as of
- 05/2023
- EIN
- 27-2190032
Organization Overview
Bible Seminary is located in Katy, TX. The organization was established in 2010. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 05/2023, Bible Seminary employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bible 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 05/2023, Bible Seminary generated $962.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $966.0k during the year ending 05/2023. While expenses have increased by 5.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEMINARY EDUCATION ROOTED IN THE WORD OF GOD. SEE EXPANDED MISSION STATEMENT (ATTACHED).
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION ACTIVITIES: PROVIDING PROGRAMS THAT INCLUDE BIBLE CERTIFICATE, VOCATIONAL MINISTRY, DUAL DEGREE COMPLETION, MASTER OF ARTS, AND MASTER OF DIVINITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Peters Chair | OfficerTrustee | 2 | $0 |
Julia Dean Vice Chair | OfficerTrustee | 2 | $0 |
Mickey Ellis Sec, Treas | OfficerTrustee | 2 | $0 |
George Armistead Director | Trustee | 1 | $0 |
Robert Button Director | Trustee | 1 | $0 |
Harry Chapman 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 | $800,920 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $800,920 |
| Total Program Service Revenue | $158,815 |
| Investment income | -$2,401 |
| 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 | $5,085 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $962,419 |
| 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. | $117,806 |
| Compensation of current officers, directors, key employees. | $32,238 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,339 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $135,501 |
| Payroll taxes | $35,098 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,863 |
| Advertising and promotion | $31,838 |
| Office expenses | $55,251 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $79,146 |
| Travel | $11,439 |
| 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 | $10,792 |
| Insurance | $10,018 |
| All other expenses | $0 |
| Total functional expenses | $966,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,757 |
| Savings and temporary cash investments | $42,273 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,835 |
| 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 | $19,682 |
| Net Land, buildings, and equipment | $17,176 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,765 |
| Total assets | $336,488 |
| Accounts payable and accrued expenses | $5,741 |
| 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 | $81,163 |
| Total liabilities | $86,904 |
| Net assets without donor restrictions | $188,119 |
| Net assets with donor restrictions | $61,465 |
| 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 | $336,488 |
Grants Awarded
Over the last fiscal year, Bible Seminary has awarded $22,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF WATS PURPOSE: Missions | $15,000 |
ANTIOCH COMMUNITY CHURCH PURPOSE: Missions | $7,500 |