Mount Olive Bible Institute and Seminary Inc

Analysis

Mount Olive Bible Institute and Seminary Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2019, 7 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 December 2023, Mount Olive Bible Institute and Seminary Inc reported income of $187k and spending of $211k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $312k to $187k (-40%), an average of -12% a year. The sharpest change came in the year to December 2020, when income dropped by 32%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mount Olive Bible Institute and Seminary Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within NY. Charities of a similar size with the same main cause include District Foxtrot of the Clemson Alumni Association ($187k), New Hope Vocational Technical Institute Inc ($187k) and Parent Booster USA Inc ($187k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $49k (23% of expenses). Other salaries and wages came to $20k. At year end it held assets of $318k against liabilities of $0, net assets of $318k. It reported 4 employees.