The Washington Theological Seminary
- Assets
- $511.0k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 19
- Location
- Annandale, VA
- Founding
- 11/1994
- Data as of
- 06/2021
- EIN
- 54-1694588
Organization Overview
The Washington Theological Seminary is located in Annandale, VA. The organization was established in 1994. 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 06/2021, Washington Theological Seminary employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Theological 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 06/2021, Washington Theological Seminary generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 72.9% each year . All expenses for the organization totaled $1.6m during the year ending 06/2021. While expenses have increased by 69.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A BIBLICALLY INTEGRATED EDUCATION TO EQUIP STUDENTS AND HIS PEOPLE FOR WORKS OF SERVICE, IN THE NAME OF LORD JESUS CHRIST, THROUGH MINISTRY AND PROFESSIONAL OCCUPATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXEMPT PURPOSE OF THIS ORGANIZATION IS TO PROVIDE EDUCATION AND ACADEMIC DEVELOPMENT FOR STUDENTS WHO ARE INTERESTED IN CHRISTIANITY AND ORGANIZATIONAL CHURCH TO BE A BETTER COMMUNICATORS WITH GOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Moon President | Officer | 40 | $13,710 |
Sun H Lee Board Chair | Trustee | 1 | $0 |
Tae O Kim Secretary | Trustee | 1 | $0 |
Robert Cavanaugh Board Member | Trustee | 1 | $0 |
John K Kim Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $84,240 |
| Investment income | $12 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,636,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $655,931 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $16,210 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,643 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,209 |
| Payroll taxes | $18,140 |
| Fees for services: Management | $73,050 |
| Fees for services: Legal | $7,987 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,125 |
| Advertising and promotion | $8,241 |
| Office expenses | $28,813 |
| Information technology | $16,643 |
| Royalties | $0 |
| Occupancy | $262,481 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,094 |
| Insurance | $877 |
| All other expenses | $0 |
| Total functional expenses | $1,575,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,713 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $118,660 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,113 |
| Other assets | $0 |
| Total assets | $511,043 |
| Accounts payable and accrued expenses | $911 |
| 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 | $1,000 |
| Secured mortgages and notes payable | $44,864 |
| Unsecured mortgages and notes payable | $192,211 |
| Other liabilities | $1,000 |
| Total liabilities | $239,986 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $271,057 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Washington Theological Seminary has recieved totaling $36.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Memorial College Of Health Sciences Inc Memphis, TN | $55,747,053 | $20,446,298 |
The Chicago School-Washington Dc Inc Washington, DC | $8,957,032 | $17,481,521 |
West Virginia School Of Osteopathic Medicine Clinic Inc Lewisburg, WV | $1,527,498 | $9,302,119 |
Middle Tennessee School Of Anesthesia Inc Madison, TN | $22,533,334 | $7,937,391 |
Johnson University Knoxville, TN | $1,750,926 | $5,010,332 |
Mid-America Baptist Theological Seminary Cordova, TN | $25,540,580 | $5,422,482 |
Hood Theological Seminary Salisbury, NC | $17,605,409 | $4,185,310 |
Nashville School Of Law Nashville, TN | $7,415,202 | $3,898,792 |
Shepherds Theological Seminary Inc Cary, NC | $1,634,882 | $3,082,209 |
Kentucky College Of Art And Design Inc Louisville, KY | $5,558,325 | $2,801,398 |
Hartland Institute Of Health And Education Rapidan, VA | $6,024,120 | $2,045,096 |
Watts College Of Nursing Inc Durham, NC | $19,579 | $1,750,259 |