Virginia Beach Theological Seminary

Analysis

Virginia Beach Theological Seminary is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in August 1996, 30 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, Virginia Beach Theological Seminary reported income of $815k and spending of $696k, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $431k to $815k (+89%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 72%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Beach Theological Seminary sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within VA. Charities of a similar size with the same main cause include Neighborhood Preschool Inc ($814k), Buildingcommunity Workshop ($815k) and Foundation of Yakima Valley Community College ($814k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $66k (9.4% of expenses). Other salaries and wages came to $335k. At year end it held assets of $1.2m against liabilities of $30k, net assets of $1.1m. It reported 16 employees.