Union Theological Seminary

Analysis

Union Theological Seminary is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1934, 92 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Union Theological Seminary reported income of $46.6m and spending of $38.9m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.8m to $46.6m (+81%), an average of +16% a year. The sharpest change came in the year to June 2020, when income rose by 225%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Union Theological Seminary sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Kids in Need Foundation ($46.4m), Maryland School for the Blind ($46.6m) and Greens Farms Academy Inc ($46.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 28% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $1.5m (3.9% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $217.8m against liabilities of $34.7m, net assets of $183.1m. It reported 246 employees.