Texas Independent Baptist Seminary

Analysis

Texas Independent Baptist Seminary is a registered charity in United States, based in Longview, TX. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2022, Texas Independent Baptist Seminary reported income of $762k and spending of $1.8m, spending 238% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $634k to $762k (+20%), an average of +6.3% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 152% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Texas Independent Baptist Seminary sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include The Thanks-Giving Foundation ($762k), Jersey Shore Orthodox Rabbinate Inc ($763k) and Hope for the World Foundation Inc ($762k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 35% and program service revenue 35% of the total. Other salaries and wages came to $658k. At year end it held assets of $822k against liabilities of $1.9m, net assets of -$1.1m. It reported 40 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.