Faith School of Theology

Analysis

Faith School of Theology is a registered charity in United States, based in Charleston, ME. It received its IRS tax-exemption ruling in March 1983, 43 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Faith School of Theology reported income of $1.6m and spending of $1.9m, spending 121% of what it took in. Across the 5 years on record, from July 2019 to May 2023, income grew from $1.2m to $1.6m (+33%), an average of +7.4% a year. The sharpest change came in the year to July 2021, when income rose by 70%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faith School of Theology sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within ME. Charities of a similar size with the same main cause include Vatican Observatory Foundation a Nonprofit Corporation ($1.6m), Columbus Youth Foundation ($1.6m) and Gamaliel Foundation ($1.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 65% and program service revenue 36% of the total. Other salaries and wages came to $776k. At year end it held assets of $3.8m against liabilities of $926k, net assets of $2.9m. It reported 83 employees.