Covenant Baptist Theological Seminary

Analysis

Covenant Baptist Theological Seminary is a registered charity in United States, based in Owensboro, KY. It received its IRS tax-exemption ruling in August 2020, 6 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, Covenant Baptist Theological Seminary reported income of $1.0m and spending of $930k, spending 93% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $544k to $1.0m (+85%), an average of +23% a year. The sharpest change came in the year to December 2022, when income rose by 73%. 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, Covenant Baptist Theological Seminary sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within KY. Charities of a similar size with the same main cause include Resources USA Inc ($1.0m), Graduate School of the Stowers Institute for Medical Research ($1.0m) and Metro Louisville Harm Reduction Task Force ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $239k (26% of expenses). Other salaries and wages came to $175k. At year end it held assets of $635k against liabilities of $16k, net assets of $619k. It reported 9 employees.