New York Theological Seminary

Nonprofit profile at a glance

EIN
131628150
IRS 990 coverage
2009–2020
Forms available
Form 990 2020
Location
New York, NY, USA
Phone
2128701238
Rating
70
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Graduate, Professional Schools (Separate Entities)
Affiliation
Christianity

Official website

Reported finances

Revenue
$4,439,036
Expenses
$4,304,912
Assets
$2,378,321
Liabilities
$1,184,872

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • LAKEESHA N WALROND (PRESIDENT)

Highest reported compensation

  • LAKEESHA N WALROND (PRESIDENT): $169,351 total reported compensation
  • CRAIG KING (CONTROLLER): $104,959 total reported compensation
  • LENIER THOMAS (VP OF DEV & INSTITUTIONAL): $84,171 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

New York theological seminary is a diverse and inclusive community of learning grounded in biblical witness and christian tradition, with a historic urban focus. The seminary prepares women and men for faith-based ministries in the city and throughout the world. Values.

What it reported doing in 2020

The first professional degree program (leading to various master's degrees) remains the largest program of the seminary in terms of both revenue and expenses. The revenue continues to come through tuition and fees. Most of the faculty resources are devoted on this program. Wecurrently offer five degrees at the masters level. The master of arts in pastoral care and counseling (mapcc), the master of arts in religious education (mare), master of arts in youth ministry (maym), the master of arts in leadership and administration (marla), and themaster of professional study (mps) offered at sing sing correctional facilities. All our degrees are approved by our national accreditation body, and commission for accreditation of the association of theological schools. The seminary's main first professional degree continues to be the master of divinity (mdiv).

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 82% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 26
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.3%; rating input score 68
  • Program expense ratio: 69.3%; rating input score 69
  • Fundraising efficiency: $16.46 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st 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; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: -3.1% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -5.7% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 68.3% of revenue deployed · 69.3% of spending went to programs
  • Governance: 21 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $169K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2009 to 2020
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.