Hood Theological Seminary

Analysis

Hood Theological Seminary is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in September 2001, 25 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 2024, Hood Theological Seminary reported income of $3.6m and spending of $3.4m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.5m to $3.6m (+2.7%), an average of +0.7% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hood Theological Seminary sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Edu Futuro ($3.6m), Florida High School for Accelerated Learning-Palm Beach County Campus ($3.6m) and Steam Academy of Cleveland ($3.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 43% and program service revenue 36% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $20.0m against liabilities of $1.9m, net assets of $18.0m. It reported 65 employees.