Civic Intelligence

Virginia Beach Theological Seminary

990 • Fiscal year 2015 • EIN 54-1776238

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 21, 2015

2221 Centerville TurnpikeVirginia Beach, VA 23464

(757) 479-3706

Siviq Scores

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

Liabilities / Assets

55th percentile

0.06x

Higher debt load relative to assets than 55% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

63rd percentile

0.10x

Higher debt load relative to revenue than 63% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

86th percentile

32%

Higher net margin than 86% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

9th percentile

-20%

Faster asset growth than 9% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

51st percentile

3.6%

Faster revenue growth than 51% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Down

$964,771

Down $237,504 (-20%) from 2014

Net Assets

Down

$902,754

Down $253,126 (-22%) from 2014

Liabilities

Up

$62,017

Up $15,622 (+34%) from 2014

Revenue

Up

$635,171

Up $21,888 (+3.6%) from 2014

Expenses

Down

$431,397

Down $122,484 (-22%) from 2014

Net Income

Up

$203,774

Up $144,372 (+243%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $598,241Liabilities 2011: $70,695Net Assets 2011: $527,5462011Assets 2012: $1,027,698Liabilities 2012: $6,105Net Assets 2012: $1,021,5932012Assets 2013: $1,058,456Liabilities 2013: $17,798Net Assets 2013: $1,040,6582013Assets 2014: $1,202,275Liabilities 2014: $46,395Net Assets 2014: $1,155,8802014Assets 2015: $964,771Liabilities 2015: $62,017Net Assets 2015: $902,7542015Assets 2016: $899,650Liabilities 2016: $25,313Net Assets 2016: $874,3372016Assets 2017: $972,015Liabilities 2017: $94,645Net Assets 2017: $877,3702017Assets 2018: $866,891Liabilities 2018: $100,723Net Assets 2018: $766,1682018Assets 2019: $825,907Liabilities 2019: $110,191Net Assets 2019: $715,7162019Assets 2020: $856,647Liabilities 2020: $126,047Net Assets 2020: $730,6002020Assets 2021: $1,213,498Liabilities 2021: $30,977Net Assets 2021: $1,182,5212021Assets 2022: $1,041,638Liabilities 2022: $35,086Net Assets 2022: $1,006,5522022Assets 2023: $1,155,247Liabilities 2023: $29,923Net Assets 2023: $1,125,3242023Assets 2024: $1,105,367Liabilities 2024: $50,414Net Assets 2024: $1,054,9532024Assets 2025: $1,162,591Liabilities 2025: $99,116Net Assets 2025: $1,063,4752025

Highlighted filing

2015

Assets$964,771
Liabilities$62,017
Net Assets$902,754

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $530,7462011Expenses 2012: $585,1412012Revenue 2013: $580,662Expenses 2013: $578,031Net Income 2013: $2,6312013Revenue 2014: $613,283Expenses 2014: $553,881Net Income 2014: $59,4022014Revenue 2015: $635,171Expenses 2015: $431,397Net Income 2015: $203,7742015Revenue 2016: $548,973Expenses 2016: $513,202Net Income 2016: $35,7712016Revenue 2017: $496,706Expenses 2017: $529,414Net Income 2017: -$32,7082017Revenue 2018: $431,087Expenses 2018: $583,642Net Income 2018: -$152,5552018Revenue 2019: $431,425Expenses 2019: $551,268Net Income 2019: -$119,8432019Revenue 2020: $584,080Expenses 2020: $609,048Net Income 2020: -$24,9682020Revenue 2021: $1,002,113Expenses 2021: $660,248Net Income 2021: $341,8652021Revenue 2022: $873,149Expenses 2022: $739,984Net Income 2022: $133,1652022Revenue 2023: $814,501Expenses 2023: $695,729Net Income 2023: $118,7722023Revenue 2024: $676,493Expenses 2024: $746,864Net Income 2024: -$70,3712024Revenue 2025: $760,547Expenses 2025: $752,025Net Income 2025: $8,5222025

Highlighted filing

2015

Revenue$635,171
Expenses$431,397
Net Income$203,774
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 21, 2015
Return Version
2014v5.0
Gross Receipts
$649,956
Mission and Program Overview

Mission

Christian education for men and women interested in christian work.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$791,005-
Investments Other Securities$768,763$0▼ $768,763
Savings and Temporary Cash Investments$15,608$126,757▲ $111,149
Land, Buildings, and Equipment, Net$398,777$32,565▼ $366,212
Accounts Receivable$11,364$9,561▼ $1,803
Cash and Non-Interest-Bearing Accounts$3,188$4,883▲ $1,695
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,202,275$964,771▼ $237,504
Other Assets Total$4,575$0▼ $4,575
Liabilities
Mortgage Notes Payable Secured by Investment Property$32,000$35,000▲ $3,000
Deferred Revenue-$17,684-
Accounts Payable and Accrued Expenses$5,370$9,333▲ $3,963
Other Liabilities$9,025--
Total Liabilities$46,395$62,017▲ $15,622
Net Assets / Fund Balance
Unrestricted Net Assets$1,147,449$860,937▼ $286,512
Temporarily Rstr Net Assets$8,431$41,817▲ $33,386
Total Net Assets Fund Balance$1,155,880$902,754▼ $253,126
Total Liabilities and Net Assets / Fund Balance$1,202,275$964,771▼ $237,504

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,937$84,084$102,021
Other Land Buildings$14,628$42,063$56,691
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jason GrahameAcademic Chair
Dwayne LoukChairman
Donald RoebuckFinance Chair
Daniel DaveyPresident
Gary WhitelamVice Chairman
Doug KintTrustee
Gary BryantTrustee
Jay GermonTrustee
Keith DaveyTrustee
Michael BeelerTrustee
Michael WilburnTrustee
PAT McCARTYTrustee
Ross OlsonTrustee
Scott Van BeverenTrustee
Sean GoddenTrustee
Stacy PottsTrustee
Steve BrownTrustee
Terry LackeyTrustee
Ron WrightSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$359,117
Program Service Revenue
$175,716
Investment Income
$94,113
Other Revenue
$6,225
All Other Contributions
$359,117
Change in Net Assets
$203,774

Audited Revenue Reconciliation

Revenue per Audited Statements
$635,171
Revenue Not Reported on Form 990
$76,182
Total Revenue per Audited Statements
$711,353
Total Revenue per Form 990
$635,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$324,929
Other Expenses$106,468
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$214,661$34,945-$249,606
Other Employee Benefits$62,762$10,217-$72,979
All Other Expenses$2,147$17,045-$19,192
Depreciation Depletion$10,694$1,741-$12,435
Fees for Services Accounting-$12,001-$12,001
Other Expenses$8,355$12,269-$8,355
Office Expenses$4,769$776-$5,545
Insurance$3,003$489-$3,492
Payroll Taxes$2,016$328-$2,344
Interest-$2,115-$2,115
Travel$734$119-$853
Total Functional Expenses$339,352$92,045$0$431,397

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$583,145
Expenses per Audited Statements$431,397
Total Expenses per Form 990$431,397
Expenses Not Reported on Form 990$151,748
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$21,010
Fundraising Direct Expenses$14,785
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Classic$21,010$21,010$14,785$6,225
Total Events$21,010$21,010$14,785$6,225
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The finance committee will review the form 990 before filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Annually each member is required to sign a document stating there are no conflicts of interest relating to the organization.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The compensation process for top official annual salaries are reviewed with proposed salaries for the ensuing year. Recommendations are sent to the board for approval. Once approved, contracts are issued to the employees.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The compensation process for officers or key employee's annual salaries are reviewed with proposed salaries for the ensuing year. Recommendations are sent to the board for approval. Once approved, contracts are issue to employees.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All governing documents are available at the organization's location upon request by the public.

Filing and Contact Details

Filer

Filer Name
Virginia Beach Theological Seminary
EIN
54-1776238
Phone
7574793706
Address
2221 CENTERVILLE TURNPIKE, VIRGINIA BEACH, VA 23464

Signing Officer

Name
Dr Daniel Davey
Title
President
Signed
2015-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Daniel Davey
Formed
1995
Legal Domicile
Va
Voting Board Members
19
Independent Board Members
19
Employees
10
Volunteers
8

Preparer

Firm
Knutte & Associates Pc
Address
7900 S CASS AVE STE 210, DARIEN, IL 60561-5066
Preparer
Joseph Knutte CPA
Phone
6309603317
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Fundraising expense $14785

Part XII, Line 2D: Other expenses and losses per audited F/S

Net unrealized losses $75566 fundraising expense $14785

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13ACADEMIC CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt14FINANCE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt15Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt17Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt18President
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IRS990/Form990TFiledInd0false
IRS990/FormationYr01995
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0true
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IRS990/FundraisingGrossIncomeAmt021010
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
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IRS990/InsuranceGrp/ManagementAndGeneralAmt0489
IRS990/InsuranceGrp/ProgramServicesAmt03003
IRS990/InsuranceGrp/TotalAmt03492
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt02115
IRS990/InterestGrp/TotalAmt02115
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt094113
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
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IRS990/LegalDomicileStateCd0VA
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0CHRISTIAN EDUCATION FOR MEN AND WOMEN INTERESTED IN CHRISTIAN WORK.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt035000
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt06225
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-75566
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0776
IRS990/OfficeExpensesGrp/ProgramServicesAmt04769
IRS990/OfficeExpensesGrp/TotalAmt05545
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt010217
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt062762
IRS990/OtherEmployeeBenefitsGrp/TotalAmt072979
IRS990/OtherExpensesGrp/Desc0REPAIR AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1LIBRARY EXPENSES
IRS990/OtherExpensesGrp/Desc2Student Activities
IRS990/OtherExpensesGrp/Desc3SCHOLARSHIPS
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IRS990/OtherExpensesGrp/ProgramServicesAmt08233
IRS990/OtherExpensesGrp/ProgramServicesAmt112985
IRS990/OtherExpensesGrp/ProgramServicesAmt28993
IRS990/OtherExpensesGrp/ProgramServicesAmt38355
IRS990/OtherExpensesGrp/TotalAmt020502
IRS990/OtherExpensesGrp/TotalAmt112985
IRS990/OtherExpensesGrp/TotalAmt28993
IRS990/OtherExpensesGrp/TotalAmt38355
IRS990/OtherLiabilitiesGrp/BOYAmt09025
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt034945
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0214661
IRS990/OtherSalariesAndWagesGrp/TotalAmt0249606
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt02016
IRS990/PayrollTaxesGrp/TotalAmt02344
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0DR DANIEL DAVEY
IRS990/PriorPeriodAdjustmentsAmt0-381334
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0Tuition, Fees and Service
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0175716
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0391762
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IRS990/PYInvestmentIncomeAmt040005
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0125998
IRS990/PYOtherRevenueAmt03880
IRS990/PYProgramServiceRevenueAmt0177636
IRS990/PYRevenuesLessExpensesAmt059402
IRS990/PYSalariesCompEmpBnftPaidAmt0427883
IRS990/PYTotalExpensesAmt0553881
IRS990/PYTotalRevenueAmt0613283
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0203774
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0175716
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt015608
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0126757
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.16$0.10$1.06$0.76$0.75$0.01
2024Detailed filing. Detailed filing data is available for this year.$1.11$0.05$1.05$0.68$0.75$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.16$0.03$1.13$0.81$0.70$0.12
2022Detailed filing. Detailed filing data is available for this year.$1.04$0.04$1.01$0.87$0.74$0.13
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.03$1.18$1.00$0.66$0.34
2020Detailed filing. Detailed filing data is available for this year.$0.86$0.13$0.73$0.58$0.61$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.83$0.11$0.72$0.43$0.55$0.12
2018Detailed filing. Detailed filing data is available for this year.$0.87$0.10$0.77$0.43$0.58$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.97$0.09$0.88$0.50$0.53$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.90$0.03$0.87$0.55$0.51$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.96$0.06$0.90$0.64$0.43$0.20
2014Detailed filing. Detailed filing data is available for this year.$1.20$0.05$1.16$0.61$0.55$0.06
2013Summary only. Only limited summary data is available for this year.$1.06$0.02$1.04$0.58$0.58$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.01$1.02$0.59
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.07$0.53$0.53