Bsk Theological Seminary Inc

Nonprofit profile at a glance

EIN
611312812
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Lexington, KY, USA
Phone
5028638300
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Graduate, Professional Schools (Separate Entities)
Affiliation
Christianity

Official website

Reported finances

Revenue
$966,283
Expenses
$1,364,862
Assets
$2,500,550
Liabilities
$523,899

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • DAVID CASSADY (PRESIDENT)

Highest reported compensation

  • DAVID CASSADY (PRESIDENT): $111,508 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The baptist seminary of Kentucky provides christian theological education committed to spiritual depth, intellectual honesty and moral integrity.

What it reported doing in 2024

Educational training provided for students enrolled in master of divinity program.fall enrollment 50 students spring enrollment 46 students

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 88% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 65
  • Accountability: 79
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 73.7%; rating input score 74
  • Fundraising efficiency: $6.07 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 13th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -41.2%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 73.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $112K · 17 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.