Mid-America Baptist Theological Seminary
- Assets
- $25.5m
- Revenue
- $5.4m
- Investments
- $81.7k
- Employees
- 99
- Location
- Cordova, TN
- Founding
- 09/1972
- Data as of
- 06/2022
- EIN
- 71-0430687
Organization Overview
Mid-America Baptist Theological Seminary is located in Cordova, TN. The organization was established in 1972. 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 06/2022, Mid-America Baptist Theological Seminary employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-America Baptist 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 06/2022, Mid-America Baptist Theological Seminary generated $5.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $5.4m during the year ending 06/2022. 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
TO PROVIDE RELIGIOUS EDUCATION TO STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC TRAINING IN MINISTRY - A COMBINED TOTAL OF 614 STUDENTS REGISTERED FOR THE FALL, SPRING AND SUMMER TERMS, TAKING A TOTAL FOR THE YEAR OF 5,066 CREDIT HOURS.
OTHER PROGRAM ACTIVITIES (510 STUDENTS) - MISCELLANEOUS ACTIVITIES DIRECTLY RELATED TO OVERALL MISSION OF ORGANIZATION.
LIBRARY AND BOOKSTORE - PROVIDED RESEARCH AND INFORMATION TO STUDENTS (614 COMBINED FALL, SPRING AND SUMMER REGISTRATION) AND FACULTY.
STUDENT SERVICES - ASSISTED STUDENTS (614 COMBINED FALL, SPRING AND SUMMER REGISTRATION) AND FAMILIES WITH ALL AREAS PERTAINING TO CAMPUS LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael Spradlin President | Officer | 40 | $226,988 |
Dr Bradley Thompson Executive Vi | Officer | 40 | $216,273 |
Dr Randy Redd VP For Finan | Officer | 40 | $166,600 |
Dr Mikey Newborn VP For Insti | Officer | 40 | $154,132 |
Terry Brimhall Trustee | Trustee | 1 | $0 |
Curtiss Doss Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $704,804 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,346,815 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,051,619 |
| Total Program Service Revenue | $1,265,131 |
| Investment income | $41,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,422,482 |
| 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. | $941,339 |
| Compensation of current officers, directors, key employees. | $218,383 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,554,991 |
| Pension plan accruals and contributions | $21,551 |
| Other employee benefits | $193,119 |
| Payroll taxes | $106,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,327 |
| Office expenses | $58,988 |
| Information technology | $65,659 |
| Royalties | $0 |
| Occupancy | $325,669 |
| Travel | $47,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $54,226 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $492,136 |
| Insurance | $116,277 |
| All other expenses | $405,082 |
| Total functional expenses | $5,431,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,089 |
| Savings and temporary cash investments | $1,672,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,180 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $593,146 |
| Inventories for sale or use | $105,839 |
| Prepaid expenses and deferred charges | $15,238 |
| Net Land, buildings, and equipment | $19,527,243 |
| Investments—publicly traded securities | $3,161,478 |
| Investments—other securities | $81,699 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $218,620 |
| Total assets | $25,540,580 |
| Accounts payable and accrued expenses | $275,047 |
| 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 | $2,146,601 |
| Total liabilities | $2,421,648 |
| Net assets without donor restrictions | $18,743,823 |
| Net assets with donor restrictions | $4,375,109 |
| 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 | $25,540,580 |