Michigan Lutheran Seminary Foundation
- Assets
- $2.3m
- Revenue
- $596.6k
- Investments
- $1.9m
- Employees
- 3
- Location
- Saginaw, MI
- Founding
- 05/2003
- Data as of
- 06/2023
- EIN
- 35-2159001
Organization Overview
Michigan Lutheran Seminary Foundation is located in Saginaw, MI. The organization was established in 2003. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Michigan Lutheran Seminary Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Lutheran Seminary 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 06/2023, Michigan Lutheran Seminary Foundation generated $596.6k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $466.1k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Michigan Lutheran Seminary Foundation has awarded 34 individual grants totaling $2,184,656. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT CHRISTIAN EDUCATION AT ALL LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT CHRISTIAN EDUCATION AT ALL LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Krueger President | OfficerTrustee | 0.5 | $0 |
Mark Eubank Vice Preside | OfficerTrustee | 0.5 | $0 |
Mike Wiltse Secretary | OfficerTrustee | 0.5 | $0 |
Lee Miller Treasurer | OfficerTrustee | 0.5 | $0 |
George Barrett Board Member | OfficerTrustee | 0.5 | $0 |
Julie Barrett Board Member | OfficerTrustee | 0.5 | $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 | $385,995 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,995 |
| Total Program Service Revenue | $0 |
| Investment income | $156,251 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,403 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $596,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $211,493 |
| 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 | $143,447 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,566 |
| Payroll taxes | $10,974 |
| Fees for services: Management | $135 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $507 |
| Advertising and promotion | $0 |
| Office expenses | $14,568 |
| Information technology | $10,708 |
| Royalties | $0 |
| Occupancy | $13,076 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,600 |
| Interest | $7,121 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,931 |
| All other expenses | -$3,934 |
| Total functional expenses | $466,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,356 |
| Savings and temporary cash investments | $191,007 |
| Pledges and grants receivable | -$36,410 |
| 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 | $120 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $222,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,856,346 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,299,224 |
| 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 | $574,463 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,526 |
| Total liabilities | $578,989 |
| Net assets without donor restrictions | $1,720,235 |
| 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 | $2,299,224 |
Grants Awarded
Over the last fiscal year, Michigan Lutheran Seminary Foundation has awarded $211,493 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MICHIGAN LUTHERAN SEMINARY PURPOSE: OPERATIONAL SUPPORT | $38,217 |
MICHIGAN LUTHERAN SEMINARY PURPOSE: CAPITAL PROJECTS | $32,731 |
MICHIGAN LUTHERAN SEMINARY PURPOSE: SHOLARSHIPS/TUITION | $130,717 |
MICHIGAN LUTHERAN SEMINARY PURPOSE: OTHER SPECIAL GRANTS | $9,828 |