Seminary Covenant Community
- Assets
- $3.6m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Melbourne, FL
- Founding
- 02/1998
- Data as of
- 12/2022
- EIN
- 27-3236662
Organization Overview
Seminary Covenant Community is located in Melbourne, FL. The organization was established in 1998. 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 12/2022, Seminary Covenant Community employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Seminary Covenant Community 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, Seminary Covenant Community generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 20.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE SPIRITUAL EDUCATION, HOUSING AND COMMUNITY DEVELOPMENT THROUGH MUSIC, AVIATION AND OUTREACH IN AN INTERDENOMINATIONAL MINISTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINISTRY PROVIDES ASSISTANCE TO THOSE STRUGGLING WITH HOUSING AND EMPLOYMENT. MINISTRY OWNED RENTAL PROPERTIES ARE RENTED AT A RATE WHICH IS EQUAL TO OR BELOW HUD GUIDELINES TO TENANTS WHO HAVE TROUBLE FIND HOUSING DUE TO INCOME, POOR CREDIT AND CRIMINAL HISTORY. THE MINISTRY ALSO PROVIDES HOUSING FOR TEENAGERS AGING OUT OF THE FOSTER CARE SYSTEM AND PROVIDES JOB TRAINING THROUGH THE WINGS OF GRACE THRIFT & MORE THRIFT STORE.
TO TEACH YOUNG PEOPLE LIFE LESSONS THROUGH AVIATION AND ASSIST IN COMMUNITY DEVELOPMENT, 131 MINISTRY-RELATED HOURS WERE FLOWN IN AIRPLANES TO PROVIDE APPROXIMATELY 131 FLIGHT INSTRUCTION LESSONS, BENEFITING 35 STUDENTS; 25 MINISTRY-RELATED HOURS WERE FLOWN IN AIRPLANES TO PROVODE INTERNATIONAL DISASTER RELIEF. CLASSES WERE HELD FOR 1.5 HOURS PER WEEK FOR 8 MONTHS TO TEACH TEENAGERS THE PRINCIPLES OF FLIGHT AND AERONAUTICAL DECISION MAKING, AND HOW USING THESE PROCESSES WILL WORK IN EVERY DAY LIFE, AND THAT THEY ARE ALL BIBLICAL PRINCIPLES. THIRTY-FIVE TEEN STUDENTS WERE BENEFITED.
THE MUSIC MINISTRY CONDUCTED 6 OUTREACH EVENTS, 10 CHURCH EVENTS, 8 COMMUNITY EVENTS, AND 2 FUND-RAISING EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwight Bell President | OfficerTrustee | 40 | $0 |
L Angelia Bell Secretary | OfficerTrustee | 20 | $0 |
Paul Rosbury Treasurer | OfficerTrustee | 0.5 | $0 |
Tanya Salter Vice President | Officer | 40 | $52,000 |
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 | $586,938 |
| Noncash contributions included in lines 1a–1f | $165,454 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $586,938 |
| Total Program Service Revenue | $413,290 |
| Investment income | $171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,986 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $75 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,002,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,434 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $52,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,347 |
| Advertising and promotion | $20,371 |
| Office expenses | $9,466 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,532 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,011 |
| Interest | $39,558 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $266,846 |
| Insurance | $42,432 |
| All other expenses | $55,514 |
| Total functional expenses | $1,215,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,011 |
| Savings and temporary cash investments | $713 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,994 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,573 |
| Inventories for sale or use | $31,000 |
| Prepaid expenses and deferred charges | $35,295 |
| Net Land, buildings, and equipment | $3,469,381 |
| Investments—publicly traded securities | $12,573 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,856 |
| Total assets | $3,598,396 |
| Accounts payable and accrued expenses | $24,146 |
| Grants payable | $0 |
| Deferred revenue | $7,000 |
| 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 | $2,022,938 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,654 |
| Total liabilities | $2,078,738 |
| Net assets without donor restrictions | $1,519,658 |
| 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 | $3,598,396 |