Seminary Covenant Community

Analysis

Seminary Covenant Community is a registered charity in United States, based in Titusville, FL. It received its IRS tax-exemption ruling in February 1998, 28 years ago. 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, Seminary Covenant Community reported income of $448k and spending of $396k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $239k to $448k (+87%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 60%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Seminary Covenant Community sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 71st percentile within FL. Charities of a similar size with the same main cause include National Society of the Daughters of the American Revolution ($448k), New York Institute of Credit ($448k) and Believe in Students Inc ($448k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $34k (8.5% of expenses). At year end it held assets of $872k against liabilities of $282k, net assets of $591k.