Southern Reformed Theological Seminary Inc

Nonprofit profile at a glance

EIN
263214648
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Houston, TX, USA
Phone
2819449867
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Reported finances

Revenue
$73,779
Expenses
$220,266
Assets
$154,334
Liabilities
$1,192

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • STEVE HALL (PRESIDENT/CEO)

People named in this filing

  • CHULSUNG LIM (ACTING CHAIRMAN)
  • KENNETH WASHINGTON (CLEARK/ SECRETARY)
  • EDWARD SONG (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Seminary exists for the express purpose, through biblical higher education, to train men and women of varied ethnic origins for spiritual development and effective ministry in todays complex society of diverse cultures.

What it reported doing in 2023

Education Activities: providing programs that include Certificate, AA BA, MA, and MDiv in the areas of Biblical Studies, Christian Counseling, Minstry and Pastoral Ministry.

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 100% 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: 81
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 23
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: Limited

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: Limited
  • 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -198.5%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.7; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: -8% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $168K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.