Shepherds Theological Seminary Inc
Nonprofit profile at a glance
- EIN
- 200180768
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Cary, NC, USA
- Phone
- 9195735350
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Graduate, Professional Schools (Separate Entities)
- Affiliation
- Christianity
Reported finances
- Revenue
- $7,598,959
- Expenses
- $4,767,870
- Assets
- $5,566,534
- Liabilities
- $307,201
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- STEPHEN DAVEY (PRESIDENT)
Highest reported compensation
- DAVID BURGGRAFF (PROVOST DEAN): $144,510 total reported compensation
- THOMAS PITTMAN (VP OF ACADEM): $100,827 total reported compensation
- EWART HODGINS (CFO): $82,712 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To train men and women for ministry.
What it reported doing in 2024
Shepherds theological seminary is an accredited graduate school providing quality academic and theological training for students desiring to serve in leadership roles at churches, non-profits, and other faith-based organizations. During the 2023-2024 academic year, sts was engaged in graduate education at three sites. At its cary, nc campus, sts provided a total of 62 courses ranging from 1 to 21 students enrolled. These courses include traditional academic courses on theology, history, philosophy, and biblical languages, theses courses, practical ministry courses, individual interships, and independent study courses. The west institute of sts, a teaching site located in laramie wy, provided a total of 17 classroom courses ranging from 5 to 23 students enrolled. Additionally, the sts teaching site in bryan, tx, provided a total of 2 courses with 6 students enrolled in each. In total, the following numbers of students participated in programs at sts: 132 graduate students (degree/credit seeking) and 34 non-degree-seeking/audit student. Sts delivered 2,044 total credit hours of instruction, of which 298 credits were taught via distance education. Sts had 8 graduates in may, 24 graduates in august, and 1 in december who were participating in a variety of ministries, including the following: pastors, assistant pastors, church planters, missionaries, biblical counselors, lay-counselors, non-profit workers, and local-church volunteers. Similarly, sts's alumni serve in all areas of local church ministry, para-church ministries, foreign ministries, and doctoral programs and academic appointments.
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 94% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 61
- Transparency & Controls: 94
- Accountability: 95
- Sustainability: 67
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 48.9%; rating input score 49
- Program expense ratio: 76.2%; rating input score 76
- Fundraising efficiency: $40.05 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 91.7%; rating input score 92; 22nd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: 37.3%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 1.17; rating input score 42; 42nd percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 6.9%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 12.8% per year; rating input score 100; 72nd percentile among comparable filings
- Revenue growth: 15.2% per year; rating input score 100; 82nd percentile among comparable filings
- Asset growth: 17.3% per year; rating input score 100; 79th percentile among comparable filings
Details
- Where the money goes: 48.9% of revenue deployed · 76.2% of spending went to programs
- Governance: 11 of 12 board members independent · 8 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $3.6M in reported program spending
- Leadership: top reported pay $145K · 15 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 7 filed schedules · includes major donors and grants
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.