Logos University Inc
- Assets
- $583.9k
- Revenue
- $171.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Ocala, FL
- Founding
- 04/1996
- Data as of
- 06/2024
- EIN
- 59-3300248
Organization Overview
Logos University Inc is located in Ocala, FL. The organization was established in 1996. As of 06/2024, Logos University Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Logos University 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 06/2024, Logos University Inc generated $171.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $170.6k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING QUALITY CHRISTIAN COLLEGE EDUCATION FROM ASSOCIATES DEGREES TO GRADUATE AND POST GRADUATE DEGREES USING BOTH LOCAL AND DISTANCE LEARNING PLATFORMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRINGING A BIBLICALLY-BASED COLLEGE EDUCATION TO LAY MINISTERS AND MINISTERS AND HELPING CHURCHES ESTABLISH INTERNSHIP MODULES TO PROVIDE AFFORDABLE EDUCATION TO THE STUDENTS WHILE CREATING AN INCOME STREAM FOR CHURCHES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Shearer President | OfficerTrustee | 40 | $47,875 |
Ronald Johnson Vice President-Treasurer | OfficerTrustee | 5 | $0 |
Eric Shonebarger Secretary | OfficerTrustee | 5 | $0 |
Todd Steffy 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 | $950 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $950 |
| Total Program Service Revenue | $170,927 |
| Investment income | $0 |
| 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 | $171,877 |
| 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. | $72,177 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,552 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,745 |
| Information technology | $6,844 |
| Royalties | $0 |
| Occupancy | $18,723 |
| Travel | $10,157 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,409 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $170,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,899 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $350,000 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $186,000 |
| Other assets | $0 |
| Total assets | $583,899 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $2,692 |
| Other liabilities | $1,688 |
| Total liabilities | $4,380 |
| Net assets without donor restrictions | $579,519 |
| 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 | $583,899 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Fort Lauderdale Inc Fort Lauderdale, FL | $761,850 | $3,324,876 |
Torah Ore Seminary Boca Raton, FL | $1,536,496 | $3,590,865 |
Andersonville Baptist Seminary Inc Camilla, GA | $615,811 | $904,056 |
Birmingham Theological Seminary Birmingham, AL | $698,787 | $830,358 |
Florida School Of Preaching Lakeland, FL | $1,585,831 | $969,197 |
Griffith Theological Research Foundation Inc Decatur, GA | $5,054,537 | $323,065 |
Logos University Inc Ocala, FL | $583,899 | $171,877 |
American University Of Biblical Studies Inc Douglasville, GA | $0 | $0 |
Florida Center For Theological Studies Inc West Palm Beach, FL | $46,913 | $0 |