Graduate Theological Foundation
- Assets
- $172.3k
- Revenue
- $595.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Sarasota, FL
- Founding
- 06/1985
- Data as of
- 12/2022
- EIN
- 35-1622256
Organization Overview
Graduate Theological Foundation is located in Sarasota, FL. The organization was established in 1985. As of 12/2022, Graduate Theological Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Graduate Theological Foundation 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, Graduate Theological Foundation generated $595.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $679.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 8 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
THE GRADUATE THEOLOGICAL FOUNDATION IS AN INTERRELIGIOUS DEGREE GRANTING EDUCATIONAL INSTITUTION THAT PROVIDES CONTINUING EDUCATION AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR MINISTRY PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS AN INTERRELIGIOUS DEGREE GRANTING EDUCATIONAL INSTITUTION THAT PROVIDES CONTINUING EDUCATION AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR MINISTRY PROFESSIONALS. ALL EDUCATIONAL DEGREE PROGRAMS ARE DESIGNED FOR ADVANCED LEARNING THAT IS SELF IMPROVING AND MOTIVATIONAL IN NATURE FOR FULLY CREDENTIALED PROFESSIONALS IN MINISTRY. STUDENTS MAY COMPLETE THE ACADEMIC REQUIREMENTS OF THEIR DOCTORAL, MASTERS, OR UNDERGRADUATE DEGREES THROUGH ENDORSED PROGRAMS AND VENUES THROUGHOUT THE U.S. AND ABROAD, AND ALSO DIRECTLY THROUGH THE FOUNDATION IN THE FORM OF ONLINE, DISTANCE OR ON-SITE STUDY. BOTH PROFESSIONAL (PRAXIS-ORIENTED) AND ACADEMIC (RESEARCH ORIENTED) DEGREES ARE OFFERED. DOCTORAL DEGREE PROGRAMS OFFERED BY THE FOUNDATION REQUIRE THE COMPLETION OF AN APPROVED COURSE CURRICULUM AND THE DEVELOPMENT OF A FINAL PRAXIS-BASED DOCTORAL PROJECT (PROFESSIONAL DOCTORATES) OR A RESEARCH BASED DOCTORAL THESIS (ACADEMIC DOCTORATES) THAT IS EVALUATED BY FACULTY MEMBERS. DURING THE YEAR 2022, THE FOUNDATION GRADUATED 25 DOCTORAL STUDENTS. OF THE 216 STUDENTS ENROLLED AT DECEMBER 31, 2022 (END OF YEAR TOTAL ENROLLMENT), 178 WERE IN DOCTORAL PROGRAMS.
MASTERS DEGREE PROGRAMS REQUIRE THE COMPLETION OF AN APPROVED COURSE CURRICULUM AND THE DEVELOPMENT OF A FINAL PRAXIS-BASED MASTERS PROJECT (PROFESSIONAL MASTERS) OR A RESEARCH-BASED MASTERS THESIS (ACADEMIC MASTERS) THAT IS EVALUATED BY FOUNDATION FACULTY. DURING THE YEAR 2022, THE FOUNDATION GRADUATED 1 MASTERS STUDENT. OF THE 216 STUDENTS ENROLLED AT DECEMBER 31, 2022 (END OF YEAR TOTAL ENROLLMENT), 20 WERE IN MASTERS PROGRAMS.
UNDERGRADUATE PROGRAMS REQUIRE THE COMPLETION OF AN APPROVED COURSE CURRICULUM AND A FINAL PAPER THAT IS EVALUATED BY FACULTY MEMBERS. DURING THE YEAR 2022, THE FOUNDATION GRADUATED 2 UNDERGRADUATE STUDENTS. OF THE 216 STUDENTS ENROLLED AT DECEMBER 31, 2022 (END OF YEAR TOTAL ENROLLMENT), 14 STUDENTS WERE IN UNDERGRADUATE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Kirbas Provost | Trustee | 0.19 | $101,310 |
Kendra E Clayton Director | Trustee | 0.19 | $0 |
Glenn Dunn Director | Trustee | 0.19 | $0 |
Pastor Carlos E Ham Director | Trustee | 0.19 | $0 |
Dr Dennis Reid Director | Trustee | 0.19 | $0 |
Paul Kirbas Chairman Of The Board | OfficerTrustee | 15 | $132,144 |
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 | $61,868 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,868 |
| Total Program Service Revenue | $534,464 |
| Investment income | $873 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,777 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $595,428 |
| 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 | $500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $281,261 |
| Compensation of current officers, directors, key employees. | $140,631 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,356 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,639 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27 |
| Fees for services: Accounting | $7,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $163,884 |
| Advertising and promotion | $119 |
| Office expenses | $32,632 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,471 |
| Travel | $7,662 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,536 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,456 |
| All other expenses | $139 |
| Total functional expenses | $679,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,086 |
| Savings and temporary cash investments | $78,395 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,230 |
| 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 | $542 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $172,253 |
| Accounts payable and accrued expenses | $400 |
| 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 | $0 |
| Total liabilities | $400 |
| Net assets without donor restrictions | $149,508 |
| Net assets with donor restrictions | $22,345 |
| 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 | $172,253 |