Faith Evangelical Lutheran Seminary

Analysis

Faith Evangelical Lutheran Seminary is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in February 1996, 30 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, Faith Evangelical Lutheran Seminary reported income of $2.4m and spending of $2.7m, spending 115% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.3m to $2.4m (+3.6%), an average of +1.2% a year. The sharpest change came in the year to June 2021, when income rose by 34%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Faith Evangelical Lutheran Seminary sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within WA. Charities of a similar size with the same main cause include South Central Lutheran Association for Secondary Education Inc ($2.4m), Exodus School ($2.4m) and North American Coalition for Christian Admissions Professionals ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $332k (12% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.4m against liabilities of $3.1m, net assets of $1.3m. It reported 47 employees.