Inter-Lutheran Theological Seminary

Analysis

Inter-Lutheran Theological Seminary is a registered charity in United States, based in Hancock, MI. It received its IRS tax-exemption ruling in February 1985, 41 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Inter-Lutheran Theological Seminary reported income of $262k and spending of $189k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $317k to $262k (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2022, when income rose by 36%. Over the whole period it spent 67% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Inter-Lutheran Theological Seminary sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within MI. Charities of a similar size with the same main cause include Duncan Ministries ($262k), Catedral Da Familia ($263k) and Club 180 ($262k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $99k (52% of expenses). Other salaries and wages came to $26k. At year end it held assets of $777k against liabilities of $0, net assets of $777k. It reported 2 employees.