Wesley Biblical Seminary
- Assets
- $4.7m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 26
- Location
- Ridgeland, MS
- Founding
- 10/1976
- Data as of
- 06/2022
- EIN
- 64-0579585
Organization Overview
Wesley Biblical Seminary is located in Ridgeland, MS. The organization was established in 1976. As of 06/2022, Wesley Biblical Seminary employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Biblical 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 06/2022, Wesley Biblical Seminary generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $3.2m during the year ending 06/2022. While expenses have increased by 11.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WESLEY BIBLICAL SEMINARY IS A MULTI-DENOMINATIONAL SCHOOL OF THEOLOGY THAT PROVIDES UNDERGRADUATE, GRADUATE AND DOCTORATE LEVEL EDUCATION FOR INDIVIDUALS WHO ARE PREPARING FOR CHRISTIAN SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNDERGRADUATE, GRADUATE AND DOCTORATE LEVEL EDUCATION PROVIDED FOR INDIVIDUALS WHO ARE PREPARING FOR CHRISTIAN SERVICE.
STUDENT SERVICES CONSISTING OF ADMISSIONS, REGISTRAR ACTIVITIES, AND ACTIVITIES WHOSE PRIMARY PURPOSE IS TO CONTRIBUTE TO STUDENTS' WELL-BEING AND DEVELOPMENT OUTSIDE THE CONTEXT OF THE FORMAL INSTRUCTIONAL PROGRAM.
AUXILIARY ENTERPRISES CONSIST OF STUDENT HOUSING AND OTHER ESSENTIALLY SELF-SUPPORTING OPERATIONS THAT EXIST TO PROVIDE SERVICES TO STUDENTS, FACULTY OR STAFF, AND THAT CHARGE A FEE THAT IS RELATED TO THE COST OF THE SERVICE.
AUXILIARY ENTERPRISES CONSIST OF STUDENT HOUSING AND OTHER ESSENTIALLY SELF-SUPPORTING OPERATIONS THAT EXIST TO PROVIDE SERVICES TO STUDENTS, FACULTY OR STAFF, AND THAT CHARGE A FEE THAT IS RELATED TO THE COST OF THE SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Matt Ayars President | Officer | 40 | $121,875 |
J David Chandler Jr Chairman | OfficerTrustee | 1 | $0 |
James Renfroe Vice Chairma | OfficerTrustee | 1 | $0 |
Bob Mcelroy Treasurer | OfficerTrustee | 1 | $0 |
Morgan Roberts Secretary | OfficerTrustee | 1 | $0 |
Scott King Bd Of Truste | 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 | $1,226,488 |
| Noncash contributions included in lines 1a–1f | $119,203 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,226,488 |
| Total Program Service Revenue | $2,074,456 |
| Investment income | $67,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,500 |
| Net Gain/Loss on Asset Sales | -$2,214 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,371,777 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,271,550 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,537 |
| Compensation of current officers, directors, key employees. | $150,537 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,092,891 |
| Pension plan accruals and contributions | $30,082 |
| Other employee benefits | $4,091 |
| Payroll taxes | $44,697 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,477 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,281 |
| Advertising and promotion | $16,809 |
| Office expenses | $67,593 |
| Information technology | $58,021 |
| Royalties | $0 |
| Occupancy | $29,231 |
| Travel | $33,915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,264 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,809 |
| Insurance | $25,301 |
| All other expenses | $21,511 |
| Total functional expenses | $3,151,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,717 |
| Savings and temporary cash investments | $1,423,045 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $122,822 |
| 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 | $11,201 |
| Net Land, buildings, and equipment | $841,365 |
| Investments—publicly traded securities | $1,998,334 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,519 |
| Total assets | $4,673,003 |
| Accounts payable and accrued expenses | $41,848 |
| Grants payable | $0 |
| Deferred revenue | $57,308 |
| 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 | $3,563 |
| Total liabilities | $102,719 |
| Net assets without donor restrictions | $1,845,209 |
| Net assets with donor restrictions | $2,725,075 |
| 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 | $4,673,003 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wesley Biblical Seminary has recieved totaling $17,216.
| Awarding Organization | Amount |
|---|---|
Howard & Zetta Orchard Charitable Tr 031887 Wilmington, DE PURPOSE: GENERAL OPERATING | $11,147 |
Mitchell Foundation Inc Mobile, AL PURPOSE: PROGRAM COSTS | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $69 |
Endowment Analysis
| Beg. Balance | $2,928,940 |
| Earnings | -$376,473 |
| Net Contributions | $433,330 |
| Grants | -$35,889 |
| Ending Balance | $2,949,908 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky Christian University Inc Grayson, KY | $38,563,521 | $22,232,558 |
Oblate School Of Theology San Antonio, TX | $56,887,314 | $9,892,922 |
Phillips Theological Seminary Corporation Tulsa, OK | $139,965,847 | $9,611,504 |
Eden Theological Seminary Webster Groves, MO | $30,107,980 | $3,814,121 |
African Bible Colleges Inc Clinton, MS | $2,795,358 | $3,615,247 |
Wesley Biblical Seminary Ridgeland, MS | $4,673,003 | $3,371,777 |