Baptist Seminary Of Kentucky
- Assets
- $3.2m
- Revenue
- $829.0k
- Investments
- $0.0
- Employees
- 17
- Location
- Lexington, KY
- Founding
- 08/2000
- Data as of
- 07/2023
- EIN
- 61-1312812
Organization Overview
Baptist Seminary Of Kentucky is located in Lexington, KY. The organization was established in 2000. 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 07/2023, Baptist Seminary Of Kentucky employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baptist Seminary Of Kentucky 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 07/2023, Baptist Seminary Of Kentucky generated $829.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $1.3m during the year ending 07/2023. 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
THE BAPTIST SEMINARY OF KENTUCKY PROVIDES CHRISTIAN THEOLOGICAL EDUCATION COMMITTED TO SPIRITUAL DEPTH, INTELLECTUAL HONESTY AND MORAL INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL TRAINING PROVIDED FOR STUDENTS ENROLLED IN MASTER OF DIVINITY PROGRAM.FALL ENROLLMENT 50 STUDENTS SPRING ENROLLMENT 46 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Fowler Trustee | OfficerTrustee | 2 | $0 |
Ann Mcmahan Trustee | OfficerTrustee | 2 | $0 |
Micah Spicer Secretary | OfficerTrustee | 2 | $0 |
Melody Chaney Trustee | Trustee | 1 | $0 |
Don Colliver Treasurer | Trustee | 1 | $0 |
Larry Gray Trustee | 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 | $604,386 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $604,386 |
| Total Program Service Revenue | $96,645 |
| Investment income | $59,539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $63,619 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $829,014 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $48,950 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,308 |
| Compensation of current officers, directors, key employees. | $53,481 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $785,479 |
| Pension plan accruals and contributions | $46,522 |
| Other employee benefits | $19,356 |
| Payroll taxes | $38,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,932 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,806 |
| Office expenses | $26,936 |
| Information technology | $22,294 |
| Royalties | $0 |
| Occupancy | $40,400 |
| Travel | $25,691 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,694 |
| Insurance | $2,462 |
| All other expenses | $33,887 |
| Total functional expenses | $1,306,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,325 |
| Savings and temporary cash investments | $531,195 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,325 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $348 |
| Prepaid expenses and deferred charges | $13,255 |
| Net Land, buildings, and equipment | $40,965 |
| Investments—publicly traded securities | $2,426,536 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,866 |
| Total assets | $3,176,815 |
| Accounts payable and accrued expenses | $17,189 |
| 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 | $424,120 |
| Other liabilities | $71,866 |
| Total liabilities | $513,175 |
| Net assets without donor restrictions | -$110,028 |
| Net assets with donor restrictions | $2,773,668 |
| 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 | $3,176,815 |