Central Baptist Theological Seminary

Nonprofit profile at a glance

EIN
410789397
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Plymouth, MN, USA
Phone
7634178250
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,553,162
Expenses
$1,732,192
Assets
$6,220,390
Liabilities
$47,887

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

Leadership & pay

23 people listed

Executive titles in this filing

  • Matt Morrell (President)

Highest reported compensation

  • Luke Forman (Treasurer): $19,434 total reported compensation
  • Matt Morrell (President): $15,512 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 mission of Central Baptist Theological Seminary is to assist New Testament churches in equipping spiritual leaders for Christ-exalting biblical ministry.

What it reported doing in 2024

WCTS-Develop and deliver broadcast programming to inform and edify Christians and encourage others to consider the claims of Jesus Christ. Broadcasting in an AM, non- commercial station format to the great Twin Cities and also via the internet 24 hours per day. Long term goals include the increasing of night time power for the greater Twin Cities area as well as continue providing quality programming covering biblical preaching/teaching and God honoring music.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 95% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 79
  • Accountability: 76
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84%; rating input score 84
  • Program expense ratio: 74.3%; rating input score 74
  • Fundraising efficiency: $69.42 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.3%; rating input score 91; 23rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.5%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 3.59; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 84% of revenue deployed · 74.3% of spending went to programs
  • Governance: 21 of 23 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $19K · 23 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 15/100.