Civic Intelligence

Faith School of Theology

EIN 01-0377494 • 501(c)3 • Charleston, ME

Profile

Faith's purpose is to mentor students for spirit-filled leadership in ministry, in light of the great commission. While academics are important, the classrooms are not the only learning place. Through a combination of formal instruction, chapel services, practical experience, personal interaction, and discipleship, faith aims to develop the inner man. Faith's purpose is to produce spirit-filled leaders. At faith, the bible is the chief textbook and jesus is the sovereign lord. Special emphasis is place upon the student's relationship with god and the sanctifying process which occurs in the believer's heart. A constant spirit of revival pervades the atmosphere. The name of jesus christ is magnified. The holy spirit is invited to interrupt the daily routine at any time.

29 Main RoadCharleston, ME 04422

www.faithschool.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

67th percentile

0.21x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

76th percentile

23%

Higher net margin than 76% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

47th percentile

$43,121

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

39th percentile

-0.0%

Faster asset growth than 39% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

82nd percentile

47%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Down

$3,975,259

Down $925 (-0.0%) from 2024

Liabilities

Down

$581,219

Down $659,425 (-53%) from 2024

Net Assets

Up

$3,394,040

Up $658,500 (+24%) from 2024

Revenue

Up

$2,813,583

Up $904,752 (+47%) from 2024

Expenses

Up

$2,161,847

Up $92,048 (+4.4%) from 2024

Net Income

Up

$651,736

Up $812,704 (+505%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $2,208,773Liabilities 2014: $152,539Net Assets 2014: $2,056,2342014Assets 2015: $2,430,124Liabilities 2015: $174,545Net Assets 2015: $2,255,5792015Assets 2016: $2,407,545Liabilities 2016: $234,158Net Assets 2016: $2,173,3872016Assets 2017: $2,392,828Liabilities 2017: $192,696Net Assets 2017: $2,200,1322017Assets 2018: $2,470,279Liabilities 2018: $234,086Net Assets 2018: $2,236,1932018Assets 2019: $2,613,833Liabilities 2019: $244,906Net Assets 2019: $2,368,9272019Assets 2020: $2,873,817Liabilities 2020: $483,261Net Assets 2020: $2,390,5562020Assets 2021: $3,765,333Liabilities 2021: $541,246Net Assets 2021: $3,224,0872021Assets 2022: $3,890,624Liabilities 2022: $685,689Net Assets 2022: $3,204,9352022Assets 2023: $3,781,923Liabilities 2023: $926,441Net Assets 2023: $2,855,4822023Assets 2024: $3,976,184Liabilities 2024: $1,240,644Net Assets 2024: $2,735,5402024Assets 2025: $3,975,259Liabilities 2025: $581,219Net Assets 2025: $3,394,0402025

Highlighted filing

2025

Assets$3,975,259
Liabilities$581,219
Net Assets$3,394,040

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $564,277Expenses 2014: $698,514Net Income 2014: -$134,2372014Revenue 2015: $574,931Expenses 2015: $712,802Net Income 2015: -$137,8712015Revenue 2016: $659,381Expenses 2016: $726,614Net Income 2016: -$67,2332016Revenue 2017: $787,097Expenses 2017: $783,043Net Income 2017: $4,0542017Revenue 2018: $854,442Expenses 2018: $835,197Net Income 2018: $19,2452018Revenue 2019: $1,202,891Expenses 2019: $1,075,244Net Income 2019: $127,6472019Revenue 2020: $1,361,854Expenses 2020: $1,346,779Net Income 2020: $15,0752020Revenue 2021: $2,320,018Expenses 2021: $1,560,718Net Income 2021: $759,3002021Revenue 2022: $1,531,230Expenses 2022: $1,485,292Net Income 2022: $45,9382022Revenue 2023: $1,598,096Expenses 2023: $1,927,764Net Income 2023: -$329,6682023Revenue 2024: $1,908,831Expenses 2024: $2,069,799Net Income 2024: -$160,9682024Revenue 2025: $2,813,583Expenses 2025: $2,161,847Net Income 2025: $651,7362025

Highlighted filing

2025

Revenue$2,813,583
Expenses$2,161,847
Net Income$651,736

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.98$0.58$3.39$2.81$2.16$0.65
2024Detailed filing. Detailed filing data is available for this year.$3.98$1.24$2.74$1.91$2.07$0.16
2023Detailed filing. Detailed filing data is available for this year.$3.78$0.93$2.86$1.60$1.93$0.33
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.89$0.69$3.20$1.53$1.49$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.77$0.54$3.22$2.32$1.56$0.76
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.87$0.48$2.39$1.36$1.35$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.61$0.24$2.37$1.20$1.08$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$0.23$2.24$0.85$0.84$0.02
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$0.19$2.20$0.79$0.78$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.23$2.17$0.66$0.73$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.43$0.17$2.26$0.57$0.71$0.14
2014Summary only. Only limited summary data is available for this year.$2.21$0.15$2.06$0.56$0.70$0.13
Latest Detailed Filing

The latest 2025 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2024 below.

Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Apr 11, 2025
Return Version
2023v6.0
Gross Receipts
$1,933,831
Mission and Program Overview

Mission

Faith's purpose is to mentor students for spirit-filled leadership in ministry, in light of the great commission. While academics are important, the classrooms are not the only learning place. Through a combination of formal instruction, chapel services, practical experience, personal interaction, and discipleship, faith aims to develop the inner man. Faith's purpose is to produce spirit-filled leaders. At faith, the bible is the chief textbook and jesus is the sovereign lord. Special emphasis is place upon the student's relationship with god and the sanctifying process which occurs in the believer's heart. A constant spirit of revival pervades the atmosphere. The name of jesus christ is magnified. The holy spirit is invited to interrupt the daily routine at any time.

To mentor students for spirit-filled leadership in ministry, in light of the great commission. While academics are important, the classrooms are not the only learning place. Through a combination of formal instruction, chapel services, practical experience, personal interaction, and discipleship, faith aims to develop the inner man. Faith 's purpose is to produce spirit-filled leaders. At faith, the bible is the chief textbook and jesus is the sovereign lord. Special emphasis is placed upon the student's relationship with god and the sanctifying process which occurs in the believer's heart. A constant spirit of revival pervades the atmosphere. The name of jesus christ is magnified. The holy spirit is invited to interrupt the daily routine at any time.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,233,739$3,406,918▲ $173,179
Cash and Non-Interest-Bearing Accounts$125,065$107,957▼ $17,108
Accounts Receivable$33,124$49,777▲ $16,653
Investments in Publicly Traded Securities$27,835$32,876▲ $5,041
Savings and Temporary Cash Investments$37,064$21,779▼ $15,285
Total Assets$3,781,923$3,976,184▲ $194,261
Other Assets Total$325,096$356,877▲ $31,781
Liabilities
Unsecured Notes Loans Payable$675,463$1,047,396▲ $371,933
Accounts Payable and Accrued Expenses$200,897$150,347▼ $50,550
Other Liabilities$35,894$32,300▼ $3,594
Deferred Revenue$14,187$10,601▼ $3,586
Total Liabilities$926,441$1,240,644▲ $314,203
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,345,805$2,189,309▼ $156,496
Net Assets With Donor Restrictions$509,677$546,231▲ $36,554
Total Net Assets Fund Balance$2,855,482$2,735,540▼ $119,942
Total Liabilities and Net Assets / Fund Balance$3,781,923$3,976,184▲ $194,261

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,069,510$1,802,336$4,871,846
Equipment$124,836$412,064$536,900
Land$212,572-$212,572
Other Assets Org$4,545--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rev Matthew M WardPresidentFT$41,560$41,560
Revenue and Support

Revenue Composition

Contributions and Grants
$1,217,892
Program Service Revenue
$672,812
Investment Income
$4,159
Other Revenue
$13,968
All Other Contributions
$1,217,892
Change in Net Assets
$-160,968

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,908,831
Revenue Not Reported on Form 990
$41,026
Total Revenue per Audited Statements
$1,949,857
Total Revenue per Form 990
$1,908,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,170,464
Salaries, Compensation, and Employee Benefits$877,243
Total Fundraising Expense$73,972
Grants and Similar Amounts Paid$22,092
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$498,823$248,321$15,036$762,180
Occupancy$270,502$4,122-$274,624
Depreciation Depletion$85,580$57,053-$142,633
Payroll Taxes$46,634$23,676$1,435$71,745
Fees for Services Other$51,218$10,717$6,622$68,557
Advertising-$38,038$26,436$64,474
Insurance$52,714$6,889$418$60,021
Interest-$47,924-$47,924
Current Officers, Directors, Trustees, and Key Employees$28,373$14,078$867$43,318
Fees for Services Accounting-$34,106-$34,106
Office Expenses$1,656$18,564$13,240$33,460
All Other Expenses$678$27,607$4,327$32,612
Grants to Domestic Individuals$22,092--$22,092
Other Expenses$18,106$37,831$2,232$18,106
Information Technology$3,066$3,462$136$6,664
Travel$1,205$1,961$3,223$6,389
Total Functional Expenses$1,421,478$574,349$73,972$2,069,799

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,069,799
Total Expenses per Audited Statements$2,069,799
Total Expenses per Form 990$2,069,799
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$21,883
Capital Lease Liability$10,417
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy is e-mailed to all board members for review and approval.

Form 990, Page 6, Part VI, Line 19

Copies of the financial statements and form 990 are available upon request.

Filing and Contact Details

Filer

Filer Name
Faith School of Theology
EIN
01-0377494
Phone
2072853373
Address
29 MAIN ROAD, CHARLESTON, ME 04422
Doing Business As
Faith Bible College International

Signing Officer

Name
Rev Matthew M Ward
Title
President
Phone
2072853373
Signed
2025-04-11

Organization Details

Principal Officer
Rev Matthew M Ward
Formed
1959
Legal Domicile
Me
Voting Board Members
10
Independent Board Members
9
Employees
84
Volunteers
11

Preparer

Firm
Lg&h
Address
12 STILLWATER AVE STE 5, BANGOR, ME 04401
Preparer
Shawn L Charest CPA
Phone
2079904585
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

Faith bible college international

FORM 990 - ORGANIZATION'S MISSION

Faith's purpose is to mentor students for spirit-filled leadership in ministry, in light of the great commission. While academics are important, the classrooms are not the only learning place. Through a combination of formal instruction, chapel services, practical experience, personal interaction, and discipleship, faith aims to develop the inner man. Faith's purpose is to produce spirit-filled leaders. At faith, the bible is the chief textbook and jesus is the sovereign lord. Special emphasis is place upon the student's relationship with god and the sanctifying process which occurs in the believer's heart. A constant spirit of revival pervades the atmosphere. The name of jesus christ is magnified. The holy spirit is invited to interrupt the daily routine at any time.

Form 990, Part XI, Line 9

Change in beneficial interest 36,554

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Change in benefical interest 36,554

Raw XML AppendixShowing 400 of 478 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/MissionDesc0FAITH'S PURPOSE IS TO MENTOR STUDENTS FOR SPIRIT-FILLED LEADERSHIP IN MINISTRY, IN LIGHT OF THE GREAT COMMISSION. WHILE ACADEMICS ARE IMPORTANT, THE CLASSROOMS ARE NOT THE ONLY LEARNING PLACE. THROUGH A COMBINATION OF FORMAL INSTRUCTION, CHAPEL SERVICES, PRACTICAL EXPERIENCE, PERSONAL INTERACTION, AND DISCIPLESHIP, FAITH AIMS TO DEVELOP THE INNER MAN. FAITH'S PURPOSE IS TO PRODUCE SPIRIT-FILLED LEADERS. AT FAITH, THE BIBLE IS THE CHIEF TEXTBOOK AND JESUS IS THE SOVEREIGN LORD. SPECIAL EMPHASIS IS PLACE UPON THE STUDENT'S RELATIONSHIP WITH GOD AND THE SANCTIFYING PROCESS WHICH OCCURS IN THE BELIEVER'S HEART. A CONSTANT SPIRIT OF REVIVAL PERVADES THE ATMOSPHERE. THE NAME OF JESUS CHRIST IS MAGNIFIED. THE HOLY SPIRIT IS INVITED TO INTERRUPT THE DAILY ROUTINE AT ANY TIME.
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IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3MISSIONS & UPROAR
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IRS990/PrincipalOfficerNm0REV MATTHEW M WARD
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IRS990/ProgramServiceRevenueGrp/Desc0ROOM, BOARD, TUITION, & FEES
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IRS990/ProgramServiceRevenueGrp/Desc2STUDENT SERVICES REVENUE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1227775
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0412064
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt14545
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ASSET HELD FOR SALE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt110417
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
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IRS990ScheduleD/RevenueNotReportedAmt041026
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CHANGE IN BENEFICAL INTEREST 36,554
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0356877
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NONDISCRIMINATORY POLICY FROM THE ORGANIZATIONS ON-LINE COURSE CATALOG: "IT IS THE POLICY AND COMMITMENT OF FAITH BCI THAT IS DOES NOT DISCRIMINATE AGAINST MEMBERS, APPLICANTS, STUDENTS, AND OTHERS ON THE BASIS OF RACE, AGE, COLOR, SEX, NATIONAL ORIGIN, PHYSICAL OR MENTAL DISABILITY."
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0STUDENTS DO NOT RECEIVE CASH BENEFITS, GRANTS ARE SCHOLARSHIPS APPLIED DIRECTLY TO STUDENT TUITION BILLS BY THE SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FAITH BIBLE COLLEGE INTERNATIONAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FAITH'S PURPOSE IS TO MENTOR STUDENTS FOR SPIRIT-FILLED LEADERSHIP IN MINISTRY, IN LIGHT OF THE GREAT COMMISSION. WHILE ACADEMICS ARE IMPORTANT, THE CLASSROOMS ARE NOT THE ONLY LEARNING PLACE. THROUGH A COMBINATION OF FORMAL INSTRUCTION, CHAPEL SERVICES, PRACTICAL EXPERIENCE, PERSONAL INTERACTION, AND DISCIPLESHIP, FAITH AIMS TO DEVELOP THE INNER MAN. FAITH'S PURPOSE IS TO PRODUCE SPIRIT-FILLED LEADERS. AT FAITH, THE BIBLE IS THE CHIEF TEXTBOOK AND JESUS IS THE SOVEREIGN LORD. SPECIAL EMPHASIS IS PLACE UPON THE STUDENT'S RELATIONSHIP WITH GOD AND THE SANCTIFYING PROCESS WHICH OCCURS IN THE BELIEVER'S HEART. A CONSTANT SPIRIT OF REVIVAL PERVADES THE ATMOSPHERE. THE NAME OF JESUS CHRIST IS MAGNIFIED. THE HOLY SPIRIT IS INVITED TO INTERRUPT THE DAILY ROUTINE AT ANY TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY IS E-MAILED TO ALL BOARD MEMBERS FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHANGE IN BENEFICIAL INTEREST 36,554
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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