Knox Theological Seminary

Analysis

Knox Theological Seminary is a registered charity in United States, based in Fort Lauderdale, FL. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Knox Theological Seminary reported income of $1.5m and spending of $2.0m, spending 131% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.0m to $1.5m (-24%), an average of -6.5% a year. The sharpest change came in the year to June 2020, when income dropped by 28%. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Knox Theological Seminary sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Wyoming Valley Alcohol & Drug Services Inc ($1.5m), Cedar Springs Christian Retreat Center ($1.5m) and Hillel the Foundation for Jewish Campus Life ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $251k (12% of expenses). Other salaries and wages came to $903k. At year end it held assets of $2.6m against liabilities of $155k, net assets of $2.5m. It reported 22 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.