Southern Evangelical Seminary Inc
- Assets
- $4.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 25
- Location
- Charlotte, NC
- Founding
- 09/1992
- Data as of
- 06/2023
- EIN
- 56-1764649
Organization Overview
Southern Evangelical Seminary Inc is located in Charlotte, NC. The organization was established in 1992. 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 06/2023, Southern Evangelical Seminary Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Evangelical Seminary Inc 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, Southern Evangelical Seminary Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $2.2m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION - SEMINARY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GRADUATE DEGREE PROGRAMS TO TRAIN CHRISTIANS FOR EVANGELISM AND APOLOGETICS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Furman Director | Trustee | 1 | $0 |
Phil Ginn President | OfficerTrustee | 40 | $54,833 |
David Jamison Chair | OfficerTrustee | 1 | $0 |
Stephen Cutchins Director | Trustee | 1 | $0 |
Steve Lundberg Director | Trustee | 1 | $0 |
James Little Director | Trustee | 1 | $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 | $468,978 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,978 |
| Total Program Service Revenue | $969,867 |
| Investment income | $60,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $53,675 |
| Net Gain/Loss on Asset Sales | $440,041 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,993,291 |
| 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 | $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 | $1,305,014 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $76,137 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,146 |
| Advertising and promotion | $65,984 |
| Office expenses | $41,307 |
| Information technology | $44,664 |
| Royalties | $0 |
| Occupancy | $154,018 |
| Travel | $3,899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,511 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,387 |
| Insurance | $22,389 |
| All other expenses | $154,807 |
| Total functional expenses | $2,166,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $258,039 |
| Savings and temporary cash investments | $3,230,386 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $126,560 |
| 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 | $130,052 |
| Net Land, buildings, and equipment | $15,252 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $919,506 |
| Total assets | $4,679,795 |
| Accounts payable and accrued expenses | $6,846 |
| 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 | $3,995 |
| Total liabilities | $10,841 |
| Net assets without donor restrictions | $4,663,309 |
| Net assets with donor restrictions | $5,645 |
| 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 | $4,679,795 |