Civic Intelligence

New York Theological Seminary

EIN 13-1628150 • 501(c)3 • New York, NY

Profile

New york theological seminary is a diverse and inclusive community of learning with a historic urban focus. With christ at its center, and with a curriculum informed by biblical witness and christian thought and tradition, the seminary prepares women and men for the practice of ministry in congregations, educational institutions, urban communities, the city, and the world.

475 Riverside Drive No 500New York, NY 10115

www.nyts.edu

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.50x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

72nd percentile

0.27x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

47th percentile

3.0%

Higher net margin than 47% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

86th percentile

$169,351

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

56th percentile

5.8%

Faster asset growth than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

53rd percentile

8.6%

Faster revenue growth than 53% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$2,378,321

Up $130,367 (+5.8%) from 2020

Liabilities

Down

$1,184,872

Down $144,694 (-11%) from 2020

Net Assets

Up

$1,193,449

Up $275,061 (+30%) from 2020

Revenue

Up

$4,439,036

Up $351,896 (+8.6%) from 2020

Expenses

Down

$4,304,912

Down $451,894 (-9.5%) from 2020

Net Income

Up

$134,124

Up $803,790 (+120%) from 2020

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,181,837Liabilities 2011: $631,686Net Assets 2011: $3,550,1512011Assets 2012: $2,970,803Liabilities 2012: $703,549Net Assets 2012: $2,267,2542012Assets 2013: $4,665,723Liabilities 2013: $1,762,544Net Assets 2013: $2,903,1792013Assets 2014: $5,442,169Liabilities 2014: $2,026,339Net Assets 2014: $3,415,8302014Assets 2015: $4,447,530Liabilities 2015: $1,448,915Net Assets 2015: $2,998,6152015Assets 2016: $3,142,246Liabilities 2016: $945,701Net Assets 2016: $2,196,5452016Assets 2017: $2,977,036Liabilities 2017: $998,026Net Assets 2017: $1,979,0102017Assets 2018: $3,068,220Liabilities 2018: $861,253Net Assets 2018: $2,206,9672018Assets 2019: $2,583,030Liabilities 2019: $956,121Net Assets 2019: $1,626,9092019Assets 2020: $2,247,954Liabilities 2020: $1,329,566Net Assets 2020: $918,3882020Assets 2021: $2,378,321Liabilities 2021: $1,184,872Net Assets 2021: $1,193,4492021

Highlighted filing

2021

Assets$2,378,321
Liabilities$1,184,872
Net Assets$1,193,449

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $5,672,8762011Expenses 2012: $5,859,2382012Revenue 2013: $6,065,443Expenses 2013: $5,961,698Net Income 2013: $103,7452013Revenue 2014: $5,957,549Expenses 2014: $6,051,722Net Income 2014: -$94,1732014Revenue 2015: $6,116,322Expenses 2015: $5,941,597Net Income 2015: $174,7252015Revenue 2016: $6,153,649Expenses 2016: $5,623,330Net Income 2016: $530,3192016Revenue 2017: $5,193,344Expenses 2017: $5,402,206Net Income 2017: -$208,8622017Revenue 2018: $5,763,674Expenses 2018: $5,586,146Net Income 2018: $177,5282018Revenue 2019: $4,650,453Expenses 2019: $5,296,925Net Income 2019: -$646,4722019Revenue 2020: $4,087,140Expenses 2020: $4,756,806Net Income 2020: -$669,6662020Revenue 2021: $4,439,036Expenses 2021: $4,304,912Net Income 2021: $134,1242021

Highlighted filing

2021

Revenue$4,439,036
Expenses$4,304,912
Net Income$134,124

Filings

Latest Detailed Filing

The latest 2021 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.2
Gross Receipts
$4,087,140
Mission and Program Overview

Mission

New york theological seminary is a diverse and inclusive community of learning grounded in biblical witness and christian tradition, with a historic urban focus. The seminary prepares women and men for faith-based ministries in the city and throughout the world. Values.

New york theological seminary is a diverse and inclusive community of learning, grounded in biblical witness and christian tradition, with a historic urban focus.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,029,311$1,261,398▼ $767,913
Accounts Receivable$317,045$547,270▲ $230,225
Cash and Non-Interest-Bearing Accounts$182,982$417,938▲ $234,956
Prepaid Expenses and Deferred Charges$39,870$16,605▼ $23,265
Pledges and Grants Receivable$7,735--
Land, Buildings, and Equipment, Net$6,087$4,743▼ $1,344
Total Assets$2,583,030$2,247,954▼ $335,076
Liabilities
Unsecured Notes Loans Payable-$584,613-
Accounts Payable and Accrued Expenses$672,545$472,704▼ $199,841
Deferred Revenue$275,328$264,495▼ $10,833
Other Liabilities$8,248$7,754▼ $494
Total Liabilities$956,121$1,329,566▲ $373,445
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,707,991$1,277,103▼ $430,888
Net Assets Without Donor Restrictions$-81,082$-358,715▼ $277,633
Total Net Assets Fund Balance$1,626,909$918,388▼ $708,521
Total Liabilities and Net Assets / Fund Balance$2,583,030$2,247,954▼ $335,076

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$557,690$557,690
Equipment$0$9,985$9,985
Other Land Buildings$4,743$1,186$5,929

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$2,029,311-▲ $125,911$789,437$1,261,398
2018$2,010,990$67,237▲ $137,956-$2,029,311
2017$2,013,100$40,272▲ $100,152-$2,010,990
2016$2,102,854$30,262▲ $25,848-$2,013,100
2015$2,475,247-▼ $147,885$88,586$2,102,784
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lakeesha N WalrondPresidentFT$140,400$21,600$162,000
Craig KingControllerFT$99,390$6,180$105,570
Tamara HenryAcademic Dean & VP of Academ AffairsFT$61,904$4,952$66,856
Tony LinVP of Dev & Institutional AdvancementFT$42,526-$42,526

Board Members and Trustees

NameTitle
Lawrence HammondBoard Chair
Sharon DavisonVice Chair
David VidalBoard Member
Douglas KrantzBoard Member
Ebone CarringtonBoard Member
Ed TownsBoard Member
Edison JacksonBoard Member
Jeff BoyceBoard Member
Karim HutsonBoard Member
Kenneth MorrisonBoard Member
Laura Pires-hesterBoard Member
Nadja FideliaBoard Member
Quay WatkinsBoard Member
Susan ReedBoard Member
Willa Rose JohnsonBoard Member
William WeisenbachBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,144,637
Program Service Revenue
$2,777,243
Investment Income
$165,260
Other Revenue
$0
All Other Contributions
$1,144,637
Change in Net Assets
$-669,666

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,087,140
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-38,855
Total Revenue per Audited Statements
$4,048,285
Total Revenue per Form 990
$4,087,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,973,312
Other Expenses$1,287,557
Grants and Similar Amounts Paid$495,937
Total Fundraising Expense$165,539
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,528,081$510,435$95,000$2,133,516
Occupancy$429,633$143,469$22,850$595,952
Grants to Domestic Individuals$495,937--$495,937
Comp Disqual Persons$258,165$86,054-$344,219
Other Employee Benefits$241,646$80,694$12,852$335,192
Advertising$83,795$30,731$5,082$119,608
Payroll Taxes$84,820$28,324$4,511$117,655
All Other Expenses$57,603$15,086$2,495$75,184
Other Expenses$39,963$14,656$2,424$57,043
Pension Plan Contributions$30,805$10,287$1,638$42,730
Office Expenses$27,877$10,224$1,691$39,792
Insurance$27,251$9,994$1,653$38,898
Interest$16,482$6,045$1,000$23,527
Depreciation Depletion$940$344$57$1,341
Total Functional Expenses$3,558,539$1,032,728$165,539$4,756,806

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,756,806
Total Expenses per Audited Statements$4,756,806
Total Expenses per Form 990$4,756,806
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Annuity Principal$7,754
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Upon completion, a copy is sent electronically to each board member for review at the board meeting. Members of senior management collaborated in completing the 990. Members of the board audit committee were asked to comment on its specifically prior to being submitted, with the full board allowed time to review at the board meeting.

Form 990, Part VI, Section B, Line 12C

Board members are asked to sign a conflict of interest statement each year which is kept on file. Seminary legal counsel regularly reviews all board activities and advises of any potential conflicts of interest. The board's executive committee would review any potential conflict of interest which has not been resolved by person recusing themselves or resigning from the board. The primary restriction is that no board member may participate in discussion or vote for any action which will result in financial gain, or which entails financial relationships with another institution in which they are involved, be it another seminary or church body. A key element in the new york theological seminary process is transparency and full disclosure.

Form 990, Part VI, Section B, Line 15

Compensation for senior management is reviewed annually by the budget and strategic planning committee with board members only involved.

Form 990, Part VI, Section C, Line 19

The seminary makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on www.guidestar.org and other similiar websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by laws are maintained in a public file in the office of the president, at 475 riverside drive, new york, ny, and available during office hours through the administrative assistant.

Filing and Contact Details

Filer

Filer Name
New York Theological Seminary
EIN
13-1628150
Phone
2128701238
Address
475 RIVERSIDE DRIVE NO 500, NEW YORK, NY 10115

Signing Officer

Name
Craig King
Title
CFO
Phone
2128701238
Signed
2021-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig King
Formed
1903
Legal Domicile
Ny
Voting Board Members
21
Independent Board Members
21
Employees
37
Volunteers
0

Preparer

Firm
Prager Metis Cpas LLC
Address
100 SUNNYSIDE BLVD SUITE 200, WOODBURY, NY 11797
Preparer
Thomas Gallo
Phone
5169218900
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 13A

NY

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination bytaxing authorities. Management has analyzed the tax positions taken and has concluded that as of june 30, 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the accompanying consolidated financial statements. The seminary is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods pending or in progress. The seminary has not incurred any unrelated business income.

Raw XML AppendixShowing 400 of 642 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/Desc0THE FIRST PROFESSION DEGREE PROGRAM (LEADING TO VARIOUS MASTER'S DEGREES) REMAINS THE LARGEST PROGRAM OF THE SEMINARY IN TERMS OF BOTH REVENUE AND EXPENSES. THE REVENUE CONTINUES TO COME THROUGH TUITION AND FEES. MOST OF THE FACULTY RESOURCES ARE DEVOTED ON THIS PROGRAM. WECURRENTLY OFFER FIVE DEGREES AT THE MASTERS LEVEL. THE MASTER OF ARTS IN PASTORAL CARE AND COUNSELING (MAPCC), THE MASTER OF ARTS IN RELIGIOUS EDUCATION (MARE), MASTER OF ARTS IN YOUTH MINISTRY (MAYM), THE MASTER OF ARTS IN LEADERSHIP AND ADMINISTRATION (MARLA), AND THEMASTER OF PROFESSIONAL STUDY (MPS) OFFERED AT SING SING CORRECTIONAL FACILITIES. ALL OUR DEGREES ARE APPROVED BY OUR NATIONAL ACCREDITATION BODY, AND COMMISSION FOR ACCREDITATION OF THE ASSOCIATION OF THEOLOGICAL SCHOOLS. THE SEMINARY'S MAIN FIRST PROFESSIONAL DEGREE CONTINUES TO BE THE MASTER OF DIVINITY (MDIV).
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IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt16CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt17PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP OF DEV & INSTITUTIONAL ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19ACADEMIC DEAN & VP OF ACADEM AFFAIRS
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IRS990/MissionDesc0NEW YORK THEOLOGICAL SEMINARY IS A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNING GROUNDED IN BIBLICAL WITNESS AND CHRISTIAN TRADITION, WITH A HISTORIC URBAN FOCUS. THE SEMINARY PREPARES WOMEN AND MEN FOR FAITH-BASED MINISTRIES IN THE CITY AND THROUGHOUT THE WORLD. VALUES.
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IRS990/OtherExpensesGrp/Desc1PROFESSIONAL DEVELOPMEN
IRS990/OtherExpensesGrp/Desc2OTHER
IRS990/OtherExpensesGrp/Desc3REPAIRS AND MAINTENANCE
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IRS990/ProgramServiceRevenueGrp/Desc0TUITION & FEES - DOCTOR OF MINIST
IRS990/ProgramServiceRevenueGrp/Desc1TUITION & FEES - MASTER'S DEGREES
IRS990/ProgramServiceRevenueGrp/Desc2TUITION & FEES - NON ACCREDITED
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE DOCTOR OF MINISTRY (DMIN) IS THE HIGHEST RECOGNIZED PROFESSIONAL DEGREE IN THE UNITED STATES IN THE FIELD OF MINISTRY. NYTS CONTINUES TO OFFER THE DMIN. IN BOTH RESIDENTIAL AND INTENSIVE FORMATS, WITH SEVERAL TRACKS (CONGREGATIONAL MINISTRIES, PASTORAL CARE, MULTIFAITH MINISTRY,LEADERSHIP) IN ENGLISH AND KOREAN (NYTS IS APPROVED TO OFFER THE DEGREE IN HISPANIC MINISTRIES, BUT NO SPANISH LANGUAGE GROUP FORMED THIS PAST YEAR).
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IRS990/ProgSrvcAccomActy3Grp/Desc0THE CERTIFICATE IN CHRISTIAN MINISTRY PROGRAM (CP), A NON-ACCREDITED PROGRAM FOR MINISTRY STUDIES, IS THE THIRD LARGEST SOURCE OF INCOME IN THE FORM OF TUITION AND FEES. THE CP IS NOW OPERATION IN SIXTEEN CHURCHES. THE PROGRAM IS DESIGNED TO MEET THE EDUCATIONAL NEEDS OFCLERGY WHO ARE SERVING CHURCHES THAT DO NOT REQUIRE THE MDIV FOR ORDINATION AND OF LAITY WHO SERVE IN VARIOUS CAPACITIES WITHIN THE CHURCH. THE CP IS DESIGNED TO BE COMPLETED IN TWO YEARS. SEVERAL COLLEGES IN THE NY AREA RECOGNIZE IT FOR CREDIT, ALLOWING THE NYTS CP TO BE A FEEDER INTO COLLEGE DEGREE PROGRAMS. CLASSES COVER THE BASIC AREAS OF MINISTRY STUDIES, INCLUDING BIBLE, THEOLOGY, HISTORY, ETHICS, AND THE ARTS OF MINISTRY. FACULTY IS ENTIRELY ADJUNCT AND MOST ARE DRAWN FROM THE RANKS OF THE SEMINARY'S GRADUATE.
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