Michigan Lutheran Seminary Foundation
- Assets
- $2.1m
- Revenue
- $604.7k
- Investments
- $416.0k
- Employees
- 3
- Location
- Saginaw, MI
- Founding
- 05/2003
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Michigan Lutheran Seminary Foundation generated $604.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $461.4k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Michigan Lutheran Seminary Foundation has awarded 30 individual grants totaling $1,973,163. 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
2022
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 |
David Eddy Board Member | Trustee | 0.5 | $0 |
Susan Weir Board Member | Trustee | 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 | $546,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $546,871 |
| Total Program Service Revenue | $0 |
| Investment income | $196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $27,951 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $604,739 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $201,627 |
| 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 | $136,366 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,750 |
| Payroll taxes | $9,296 |
| Fees for services: Management | $15,304 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,686 |
| Advertising and promotion | $1,835 |
| Office expenses | $24,905 |
| Information technology | $10,931 |
| Royalties | $0 |
| Occupancy | $10,264 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $627 |
| Interest | $4,163 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,900 |
| All other expenses | $0 |
| Total functional expenses | $461,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,089 |
| Savings and temporary cash investments | $1,541,284 |
| 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 | $139,002 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $415,978 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,136,063 |
| 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 | $517,648 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,040 |
| Total liabilities | $518,688 |
| Net assets without donor restrictions | $1,617,375 |
| 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 | $2,136,063 |
Grants Awarded
Over the last fiscal year, Michigan Lutheran Seminary Foundation has awarded $201,627 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MICHIGAN LUTHERAN SEMINARY PURPOSE: SHOLARSHIPS/TUITION | $128,576 |
MICHIGAN LUTHERAN SEMINARY PURPOSE: CAPITAL PROJECTS | $35,707 |
MICHIGAN LUTHERAN SEMINARY PURPOSE: OTHER SPECIAL GRANTS | $25,203 |
MICHIGAN LUTHERAN SEMINARY PURPOSE: OPERATIONAL SUPPORT | $12,141 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Michigan Lutheran Seminary Foundation has recieved totaling $23,062.
| Awarding Organization | Amount |
|---|---|
Thrivent Financial For Lutherans Minneapolis, MN PURPOSE: General Support | $11,396 |
George & Marion Buerkel Oscar & Ella Zoellner Foundation North Powder, OR PURPOSE: SCHOLARSHIP | $10,000 |
Fred C Rutz Foundation Brooklyn, OH PURPOSE: SCHOLARSHIPS | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $666 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bon Secours Mercy Health Foundation Cincinnati, OH | $455,909,792 | $66,888,886 |
Youngstown Area Jewish Foundation Youngstown, OH | $57,003,895 | $4,586,174 |
Sisters Of Charity Foundation Of Cleveland Cleveland, OH | $104,281,419 | $3,700,315 |
Catholic Foundation Of Michigan Bloomfield Hills, MI | $29,975,322 | $12,618,743 |
Stone Table Inc Plainfield, IN | $3,350,339 | $2,332,694 |
Catholic Community Foundation Ofmid Michigan Saginaw, MI | $39,952,577 | $3,035,436 |
Cpps Heritage Mission Fund Dayton, OH | $17,862,945 | $6,205,362 |
Amish Mutual Mortgage Fund Nappanee, IN | $84,844,116 | $2,126,511 |
Brightmoor Christian Church Endowment Fund Novi, MI | $509,422 | $1,829,016 |
Cabc Usa Inc Waukesha, WI | $822,280 | $1,932,888 |
Our Daily Bread Ministries Foundation Grand Rapids, MI | $34,200,268 | $7,896,868 |
West Michigan Christian Foundation Ada, MI | $4,282,532 | $1,262,702 |