Asbury Theological Seminary

Analysis

Asbury Theological Seminary is a registered charity in United States, based in Wilmore, KY. It received its IRS tax-exemption ruling in November 1943, 83 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, Asbury Theological Seminary reported income of $34.6m and spending of $38.8m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $33.4m to $34.6m (+3.7%), an average of +0.9% a year. The sharpest change came in the year to June 2021, when income rose by 59%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Asbury Theological Seminary sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Washburn University Foundation ($34.6m), National Association of State Procurement Officials ($34.7m) and Cate School ($34.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 65% of the total. Other salaries and wages came to $14.2m. At year end it held assets of $359.3m against liabilities of $4.4m, net assets of $354.9m. It reported 567 employees.