New Orleans Baptist Seminary Foundation is located in New Orleans, LA. The organization was established in 1964. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. New Orleans Baptist Seminary Foundation 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 07/2022, New Orleans Baptist Seminary Foundation generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $1.4m during the year ending 07/2022. 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 SUPPORT THE ACTIVITIES OF THE NEW ORLEANS BAPTIST THEOLOGICAL SEMINARY AS A CHURCH SCHOOL FOR THE SOUTHERN BAPTIST CONVENTION PRIMARILY THROUGH ENDOWMENTS AND GIFTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FUNDING FOR 19 PROFESSORSHIPS AT THE NEW ORLEANS BAPTIST THEOLOGICAL SEMINARY. ALSO TO PROVIDE FOR STUDENT AID AND OTHER SEMINARY CAPITAL AND OPERATIONAL SUPPORT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Mike Haley Chairman | OfficerTrustee | 0.3 | $0 |
Dr Ron Mccaskill Vice Chairman | OfficerTrustee | 0.25 | $0 |
Brett Allen Treasurer | OfficerTrustee | 0.3 | $0 |
Cory Armand Secretary | OfficerTrustee | 0.25 | $0 |
Dr Mike Wetzel Executive Secretary | OfficerTrustee | 0.1 | $0 |
Stacy Adams Board Member | Trustee | 0.1 | $0 |
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 | $3,286,770 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $3,286,770 |
Total Program Service Revenue | $0 |
Investment income | $1,782,652 |
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 | $5,069,422 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $10,750 |
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 | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $1,396,959 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $1,407,709 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $101,699 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $287,100 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $9,173,865 |
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 | $19,513,745 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $29,076,409 |
Accounts payable and accrued expenses | $759,531 |
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 | $0 |
Total liabilities | $759,531 |
Net assets without donor restrictions | $4,077,617 |
Net assets with donor restrictions | $24,239,261 |
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 | $29,076,409 |
Over the last fiscal year, we have identified 2 grants that New Orleans Baptist Seminary Foundation has recieved totaling $18,732.
Awarding Organization | Amount |
---|---|
Hollis Foundation Inc Columbus, MS PURPOSE: EDUCATION OF MINISTRIAL STUDENTS | $18,693 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $39 |
Beg. Balance | $26,373,220 |
Earnings | $1,507,478 |
Admin Expense | $10,750 |
Other Expense | $1,496,728 |
Ending Balance | $26,373,220 |
Organization Name | Assets | Revenue |
---|---|---|
University Of Louisiana At Lafayette Foundation Lafayette, LA | $292,703,277 | $46,235,918 |
Louisiana Tech University Foundation Inc Ruston, LA | $117,962,998 | $18,845,072 |
America Can Cars For Kids Dallas, TX | $4,240,577 | $12,374,341 |
University Of Southern Mississippi Foundation Hattiesburg, MS | $151,472,857 | $19,113,544 |
Robert M Hearin Support Foundation Jackson, MS | $193,382,417 | $17,750,137 |
Friends Of Imagine International Academy Of North Texas Mckinney, TX | $32,038,501 | $13,231,420 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX | $379,261,425 | $375,406 |
University Of Texas Law School Foundation Austin, TX | $263,458,115 | $22,437,207 |
Dallas Seminary Foundation Dallas, TX | $76,216,359 | $8,000,736 |
Sul Ross State University Foundation Alpine, TX | $1,687,998 | $1,230,429 |
University Of New Orleans Foundation New Orleans, LA | $129,213,862 | $21,783,517 |
Grambling High Foundation Grambling, LA | $36,491,619 | $11,923,300 |