Southern Evangelical Seminary Inc

Analysis

Southern Evangelical Seminary Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in September 1992, 34 years ago. 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, Southern Evangelical Seminary Inc reported income of $2.0m and spending of $2.2m, spending 109% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.6m to $2.0m (+23%), an average of +7.1% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southern Evangelical Seminary Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Cancer Support Community South Bay ($2.0m), Colorado Lifted Foundation ($2.0m) and Vision Loss Alliance of New Jersey Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 49% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $4.7m against liabilities of $11k, net assets of $4.7m. It reported 25 employees.