Civic Intelligence

Bethel Theological Seminary Inc

EIN 88-2318646 • 501(c)3 • Ellicott City, MD

Profile

Form 990, part i, line 1; form 990, part iii, line 1 the company was founded with a mission to educate and equip christians of all nations to become faithful disciples of christ by teaching them to follow the word of god. Its mission is to help all laity members grow in their faith on sound biblical and theological foundations and serve their families, churches, and communities by providing a theological training program, combining academic theories with practical ministry experiences to equip the students to serve their local churches and global missions.

3165 St Johns LaneEllicott City, MD 21042

goelseminary.com

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

68th percentile

0.01x

Higher debt load relative to revenue than 68% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

91st percentile

57%

Higher net margin than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

79th percentile

28%

Faster asset growth than 79% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-54%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$338,556

Up $73,086 (+28%) from 2023

Liabilities

Down

$1,087

Down $2,227 (-67%) from 2023

Net Assets

Up

$337,469

Up $75,313 (+29%) from 2023

Operations
Liabilities / Revenue68th percentileNet Margin91st percentile

Revenue

Down

$132,442

Down $154,823 (-54%) from 2023

Expenses

Up

$57,129

Up $32,020 (+128%) from 2023

Net Income

Down

$75,313

Down $186,843 (-71%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth79th percentile

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

$400K$300K$200K$100K$0Assets 2023: $265,470Liabilities 2023: $3,314Net Assets 2023: $262,1562023Assets 2024: $338,556Liabilities 2024: $1,087Net Assets 2024: $337,4692024

Highlighted filing

2024

Assets$338,556
Liabilities$1,087
Net Assets$337,469
Open 2024 Filing

Operations Trend

Revenue Growth17th percentile

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

$300K$200K$100K$0Revenue 2023: $287,265Expenses 2023: $25,109Net Income 2023: $262,1562023Revenue 2024: $132,442Expenses 2024: $57,129Net Income 2024: $75,3132024

Highlighted filing

2024

Revenue$132,442
Expenses$57,129
Net Income$75,313
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$338,556
Liabilities
$1,087
Net assets
$337,469
Revenue
$132,442
Expenses
$57,129
Net income
$75,313
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.39$0.01$3.37$1.32$0.57$0.75
2023Detailed filing. Detailed filing data is available for this year.$2.65$0.03$2.62$2.87$0.25$2.62
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$132,442
Mission and Program Overview

Mission

Form 990, part i, line 1; form 990, part iii, line 1 the company was founded with a mission to educate and equip christians of all nations to become faithful disciples of christ by teaching them to follow the word of god. Its mission is to help all laity members grow in their faith on sound biblical and theological foundations and serve their families, churches, and communities by providing a theological training program, combining academic theories with practical ministry experiences to equip the students to serve their local churches and global missions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$265,470$236,267▼ $29,203
Savings and Temporary Cash Investments-$102,042-
Prepaid Expenses and Deferred Charges-$247-
Total Assets$265,470$338,556▲ $73,086
Liabilities
Other Liabilities$3,314$1,087▼ $2,227
Total Liabilities$3,314$1,087▼ $2,227
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$262,156$337,469▲ $75,313
Total Net Assets Fund Balance$262,156$337,469▲ $75,313
Total Liabilities and Net Assets / Fund Balance$265,470$338,556▲ $73,086
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Bryan S KhimChair of Tru
Gyung Ho SongVicechair of
Daniel Shinjong BaeqPresident
Bong Jin ShinTrustee
Hak Seon KimTrustee
Se Ung KimTrustee
Shawn Sungjoo KohTrustee
Song Suck ChungTrustee
Young ChoTrustee
Young Sung SongTrustee
Christopher K YooClerk
Jung M KhimTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$126,800
Program Service Revenue
$3,600
Investment Income
$2,042
Other Revenue
$0
All Other Contributions
$126,800
Change in Net Assets
$75,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$43,598
Other Expenses$13,531
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$40,500--$40,500
Fees for Services Accounting-$6,075-$6,075
Payroll Taxes$3,098--$3,098
Office Expenses-$2,983-$2,983
Conferences and Meetings$1,754--$1,754
Other Expenses$1,000$889-$889
Advertising-$830-$830
Total Functional Expenses$46,352$10,777$0$57,129
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
Payroll Tax Payable$1,087
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Page 6, Part VI, Line 2

“Bryan s khim jung m khim chair treasurer spouse”

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

“A complete copy of the form 990 was provided to all member of trustees via electronic file at the board meeting and it was approved.”

Form 990, Page 6, Part VI, Line 12C

“A written conflict of interest policy is regularly and consistently monitored by the board of trustees.”

Form 990, Page 6, Part VI, Line 15B

“The process is reviewed by independent person, volunteer legal advisor.”

Form 990, Page 6, Part VI, Line 19

“The organization made its governing documents and conflict interest policy on its website. Financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Bethel Theological Seminary Inc
EIN
88-2318646
Phone
7037893636
Address
3165 ST JOHNS LANE, ELLICOTT CITY, MD 21042
Doing Business As
Goel Theological Seminary

Signing Officer

Name
Daniel Shinjong Baeq
Title
President
Phone
7037893636
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Shinjong Baeq
Formed
2022
Legal Domicile
Md
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
3

Preparer

Firm
Chough Oh Gill Chae & Co Pa Cpas
Address
8609 2ND AVENUE SUITE 304-B, SILVER SPRING, MD 20910-3361
Preparer
Daniel C Gill
Phone
3015895500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Form 990, part i, line 1; form 990, part iii, line 1 the company was founded with a mission to educate and equip christians of all nations to become faithful disciples of christ by teaching them to follow the word of god. Its mission is to help all laity members grow in their faith on sound biblical and theological foundations and serve their families, churches, and communities by providing a theological training program, combining academic theories with practical ministry experiences to equip the students to serve their local churches and global missions.”

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PUBLICIZED RACIALLY NONDISCRIMINATORY POLICY ON HOMEPAGE HTTPS://GOELSEMINARY.COM
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART I, LINE 1; FORM 990, PART III, LINE 1 THE COMPANY WAS FOUNDED WITH A MISSION TO EDUCATE AND EQUIP CHRISTIANS OF ALL NATIONS TO BECOME FAITHFUL DISCIPLES OF CHRIST BY TEACHING THEM TO FOLLOW THE WORD OF GOD. ITS MISSION IS TO HELP ALL LAITY MEMBERS GROW IN THEIR FAITH ON SOUND BIBLICAL AND THEOLOGICAL FOUNDATIONS AND SERVE THEIR FAMILIES, CHURCHES, AND COMMUNITIES BY PROVIDING A THEOLOGICAL TRAINING PROGRAM, COMBINING ACADEMIC THEORIES WITH PRACTICAL MINISTRY EXPERIENCES TO EQUIP THE STUDENTS TO SERVE THEIR LOCAL CHURCHES AND GLOBAL MISSIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BRYAN S KHIM JUNG M KHIM CHAIR TREASURER SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COMPLETE COPY OF THE FORM 990 WAS PROVIDED TO ALL MEMBER OF TRUSTEES VIA ELECTRONIC FILE AT THE BOARD MEETING AND IT WAS APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A WRITTEN CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS IS REVIEWED BY INDEPENDENT PERSON, VOLUNTEER LEGAL ADVISOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS AND CONFLICT INTEREST POLICY ON ITS WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL SHINJONG BAEQ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BETHEL THEOLOGICAL SEMINARY INC
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ReturnHeader/Filer/USAddress/CityNm0ELLICOTT CITY
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521349299
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHOUGH OH GILL CHAE & CO PA CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08609 2ND AVENUE SUITE 304-B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SILVER SPRING
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ReturnHeader/PreparerPersonGrp/PhoneNum03015895500
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL C GILL
ReturnHeader/ReturnTs02024-11-15T15:13:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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