Civic Intelligence

Central Baptist Theological Seminary

990 • Fiscal year 2014 • EIN 41-0789397

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 08, 2014

Organization Profilewww.centralseminary.edu
900 Forestview Lane North55441-5934

(763) 417-8250

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

32nd percentile

0.03x

Higher debt load relative to assets than 32% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

41st percentile

0.07x

Higher debt load relative to revenue than 41% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

50th percentile

2.8%

Higher net margin than 50% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

66th percentile

$92,410

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

59th percentile

4.8%

Faster asset growth than 59% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

59th percentile

7.4%

Faster revenue growth than 59% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$3,628,676

Up $164,965 (+4.8%) from 2013

Net Assets

Up

$3,533,033

Up $99,740 (+2.9%) from 2013

Liabilities

Up

$95,643

Up $65,225 (+214%) from 2013

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin50th percentile

Revenue

$1,329,183

No earlier filing loaded for comparison.

Expenses

Up

$1,292,030

Up $161,701 (+14%) from 2013

Net Income

$37,153

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $4,139,040Liabilities 2011: $33,650Net Assets 2011: $4,105,3902011Assets 2012: $3,487,377Liabilities 2012: $40,711Net Assets 2012: $3,446,6662012Assets 2013: $3,463,711Liabilities 2013: $30,418Net Assets 2013: $3,433,2932013Assets 2014: $3,628,676Liabilities 2014: $95,643Net Assets 2014: $3,533,0332014Assets 2015: $3,552,491Liabilities 2015: $28,961Net Assets 2015: $3,523,5302015Assets 2016: $3,573,117Liabilities 2016: $28,172Net Assets 2016: $3,544,9452016Assets 2017: $3,657,024Liabilities 2017: $23,393Net Assets 2017: $3,633,6312017Assets 2018: $3,446,665Liabilities 2018: $29,008Net Assets 2018: $3,417,6572018Assets 2019: $3,889,792Liabilities 2019: $26,385Net Assets 2019: $3,863,4072019Assets 2020: $4,293,491Liabilities 2020: $190,753Net Assets 2020: $4,102,7382020Assets 2021: $4,705,041Liabilities 2021: $18,134Net Assets 2021: $4,686,9072021Assets 2022: $4,526,141Liabilities 2022: $29,187Net Assets 2022: $4,496,9542022Assets 2023: $5,883,782Liabilities 2023: $73,862Net Assets 2023: $5,809,9202023Assets 2024: $6,003,175Liabilities 2024: $46,532Net Assets 2024: $5,956,6432024Assets 2025: $6,220,390Liabilities 2025: $47,887Net Assets 2025: $6,172,5032025

Highlighted filing

2014

Assets$3,628,676
Liabilities$95,643
Net Assets$3,533,033
Open 2014 Filing

Operations Trend

Revenue Growth59th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,071,769Expenses 2011: $1,347,026Net Income 2011: -$275,2572011Expenses 2012: $1,526,7412012Expenses 2013: $1,130,3292013Revenue 2014: $1,329,183Expenses 2014: $1,292,030Net Income 2014: $37,1532014Revenue 2015: $1,216,653Expenses 2015: $1,215,265Net Income 2015: $1,3882015Revenue 2016: $1,275,312Expenses 2016: $1,214,761Net Income 2016: $60,5512016Revenue 2017: $1,267,660Expenses 2017: $1,267,349Net Income 2017: $3112017Revenue 2018: $1,080,047Expenses 2018: $1,281,597Net Income 2018: -$201,5502018Revenue 2019: $1,652,119Expenses 2019: $1,240,416Net Income 2019: $411,7032019Revenue 2020: $1,451,613Expenses 2020: $1,259,223Net Income 2020: $192,3902020Revenue 2021: $1,539,130Expenses 2021: $1,298,113Net Income 2021: $241,0172021Revenue 2022: $1,553,983Expenses 2022: $1,465,368Net Income 2022: $88,6152022Revenue 2023: $2,622,195Expenses 2023: $1,558,109Net Income 2023: $1,064,0862023Revenue 2024: $1,306,784Expenses 2024: $1,523,288Net Income 2024: -$216,5042024Revenue 2025: $1,553,162Expenses 2025: $1,732,192Net Income 2025: -$179,0302025

Highlighted filing

2014

Revenue$1,329,183
Expenses$1,292,030
Net Income$37,153
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 8, 2014
Return Version
2013v3.1
Gross Receipts
$1,333,297
Mission and Program Overview

Mission

The mission of Central Baptist Theological Seminary is to assist New Testament churches in equipping spiritual leaders for Christ-exalting biblical ministry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,381,132$1,434,431▲ $53,299
Land, Buildings, and Equipment, Net$923,110$1,120,021▲ $196,911
Cash and Non-Interest-Bearing Accounts$411,773$344,504▼ $67,269
Accounts Receivable$14,884$34,408▲ $19,524
Total Assets$3,463,711$3,628,676▲ $164,965
Other Assets Total$732,812$695,312▼ $37,500
Liabilities
Accounts Payable and Accrued Expenses$30,418$95,643▲ $65,225
Total Liabilities$30,418$95,643▲ $65,225
Net Assets / Fund Balance
Unrestricted Net Assets$2,965,324$3,069,748▲ $104,424
Permanently Rstr Net Assets$311,000$311,000→ $0
Temporarily Rstr Net Assets$156,969$152,285▼ $4,684
Total Net Assets Fund Balance$3,433,293$3,533,033▲ $99,740
Total Liabilities and Net Assets / Fund Balance$3,463,711$3,628,676▲ $164,965

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$135,923$729,367$865,290
Other Land Buildings$809,098$13,229$809,098
Land$175,000-$175,000
Other Assets Org$695,312--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$467,969$131,922▲ $44,279$56,434$463,285
2012$507,785$22,957▲ $29,464$72,457$467,969
2011$505,964$28,953▲ $11,572$14,661$507,785
2010$412,344$108,894▲ $43,430$34,391$505,964
2009$333,171$110,257▲ $19,839$24,948$412,344
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Samuel HornPresidentFT$35,000$57,410$92,410
Gary BlessmanTreasurer and SecretaryPT$58,393$15,463$73,856
Ronald GroschelBoard Member-$1,050-$1,050

Board Members and Trustees

NameTitle
Matt MorrellChairman of Board
Craig MuriVice Chairman
Daniel MillerBoard Member
Don SteinhartBoard Member
Donald OgilivieBoard Member
Emmanuel MaloneBoard Member
Gerald WebberBoard Member
Gregory AdamsBoard Member
Jeff KingBoard Member
John BarchBoard Member
Jon TuttleBoard Member
Julian SuarezBoard Member
Les LeithBoard Member
Mark StuckeyBoard Member
Milton AndrewsBoard Member
Randall QuiringBoard Member
Tim EmslieBoard Member
Timothy GrahamBoard Member
Charles Hauser JrBoard Member Emeritus
Charles JohnstonBoard Member Emeritus
James MartinBoard Member Emeritus
Ralph MartinBoard Member Emeritus
Revenue and Support

Revenue Composition

Contributions and Grants
$925,601
Program Service Revenue
$378,577
Investment Income
$25,005
Other Revenue
$0
All Other Contributions
$909,926
Change in Net Assets
$37,153

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,321,179
Revenue Not Reported on Financial Statements
$8,004
Revenue Not Reported on Form 990
$500,442
Other Revenue Adjustments
$8,004
Total Revenue per Audited Statements
$1,821,621
Total Revenue per Form 990
$1,329,183
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$788,722
Other Expenses$432,455
Grants and Similar Amounts Paid$70,853
Total Fundraising Expense$38,010
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$597,743$99,574-$697,317
Fees for Services Other$76,471$19,586$8,746$104,803
Current Officers, Directors, Trustees, and Key Employees-$91,405-$91,405
Travel$16,086$56,912$17,951$90,949
Depreciation Depletion$72,172--$72,172
Grants to Domestic Individuals$70,853--$70,853
Office Expenses$43,630$11,132$173$54,935
Occupancy$45,915$4,060$474$50,449
Advertising$510$2,495$1,629$4,634
Other Expenses$2,322$1,950$6,606$2,322
All Other Expenses$1,398--$1,398
Total Functional Expenses$962,484$291,536$38,010$1,292,030

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,721,881
Total Expenses per Form 990$1,292,030
Expenses per Audited Statements$1,284,027
Expenses Not Reported on Form 990$437,854
Expenses Not Reported on Financial Statements$8,003
Other Expense Adjustments$8,003
International Activity

International Summary

Offices
1
Employees
2
Spending
$13,317

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeProgram ServicesTheological Training12$13,317
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$4,114
Fundraising Gross Income$4,114
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$19,789$4,114$544$3,570
Total Events$19,789$4,114$4,114-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Susan BlessmanFamily Member of OfficerCompensationNo$23,282
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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 family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Key officers review the Form 990 before filing.”

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

“The conflict of interest policy was reviewed and signed by board members at the annual November meeting.”

Form 990, Part VI, Section B, Line 15A

“The presidents compensation was reviewed by a compensation committee and approved by the board at the time of hiring.”

Form 990, Part VI, Section C, Line 19

“The Seminary discloses these items upon request as available.”

Form 990, Part VI, Section A, Line 2

“Directors James Martin and Ralph Martin have a family relationship.”

Filing and Contact Details

Filer

EIN
41-0789397
Phone
7634178250

Signing Officer

Name
Gary Blessman
Title
Treasurer
Signed
2014-12-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sam Horn
Formed
1956
Legal Domicile
Mn
Voting Board Members
20
Independent Board Members
19
Employees
21
Volunteers
247

Preparer

Preparer
Corey Pfaffe
Phone
9202617012
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

“The amount of 62,587 includes 62,588 for unrealized gains on securities carried at market value and a -1 adjustment.”

Form 990, Part XI, Line 6 and 9

“The audited financial statements include 437,854 of donated services and use of facilities.”

Form 990, Part III, Line 3

“The Seminary ceased Romanian program service operations in October 2013.”

Financial Statement Notes

V 1C

“- Reduced in 2014, 2013, and 2012 by 4,214, 4,857, and 737, respectfully, for gains of underwater endowments recorded in unrestricted net assets.”

V 4

“- All permanent endowments are held for student scholarships.”

V 4

“- Temporarily restricted funds are held for student assistance and radio.”

XI 4B

“- Includes 1,398 of miscellaneous expenses other expenses greater than other revenue and 6,606 of Promo Banquet expenses greater than revenues”

XII 4B

“- Includes 1,398 of miscellaneous expenses other expenses greater than other revenue, 6,606 of Promo Banquet expenses greater than revenues, and -1 rounding adjustment.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
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IRS990/MembersOrStockholdersInd0false
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,628,676
Liabilities
$95,643
Net assets
$3,533,033
Revenue
$1,329,183
Expenses
$1,292,030
Net income
$37,153
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.22$0.05$6.17$1.55$1.73$0.18
2024Summary only. Only limited summary data is available for this year.$6.00$0.05$5.96$1.31$1.52$0.22
2023Summary only. Only limited summary data is available for this year.$5.88$0.07$5.81$2.62$1.56$1.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.53$0.03$4.50$1.55$1.47$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.71$0.02$4.69$1.54$1.30$0.24
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.29$0.19$4.10$1.45$1.26$0.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.89$0.03$3.86$1.65$1.24$0.41
2018Summary only. Only limited summary data is available for this year.$3.45$0.03$3.42$1.08$1.28$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.66$0.02$3.63$1.27$1.27$0.00
2016Summary only. Only limited summary data is available for this year.$3.57$0.03$3.54$1.28$1.21$0.06
2015Detailed filing. Detailed filing data is available for this year.$3.55$0.03$3.52$1.22$1.22$0.00
2014Detailed filing. Detailed filing data is available for this year.$3.63$0.10$3.53$1.33$1.29$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.46$0.03$3.43$1.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.49$0.04$3.45$1.53
2011Summary only. Only limited summary data is available for this year.$4.14$0.03$4.11$1.07$1.35$0.28