Overview
What is Covenant Baptist Theological Seminary Inc?
Covenant Baptist Theological Seminary Inc is a nonprofit organization dedicated to supporting the church by preparing men for various pastoral duties. With a mission to serve Christ and His kingdom, they offered 736 classes to 270 students in 2022, resulting in eight graduates and a total of 1,830 credits earned. In 2022, they introduced a new academic program, the Master of Arts in Theological Studies in Counseling, to equip Christians with a hands-on service approach. The seminary focuses on fostering face-to-face service, ensuring its graduates are well-prepared to contribute to the church.
Official website here: www.cbtseminary.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two Stars)
Covenant Baptist Theological Seminary Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating that there is room for improvement in its accountability and financial practices. The organization achieved a score of 73%, reflecting a strong commitment to maintaining an independent board and adherence to certain governance policies. However, critical areas, such as financial statements and documentation retention, significantly impacted its overall rating.
The seminary excels in having a majority of independent board members and a favorable liabilities to assets ratio, which are positive indicators of governance and financial health. With a program expense ratio of over 81%, it shows that a significant portion of its expenditures supports its mission-related activities. Nonetheless, the lack of transparency in financial documentation and the absence of certain policy implementations may pose concerns for potential donors and stakeholders.
Limitations in financial reporting and missing key policies like a whistleblower and document retention policy highlight weaknesses in governance that need addressing. Improving these aspects could enhance the organization’s credibility and transparency, thereby increasing public trust and support.
This AI summary has been generated from information found on Charity Navigator.
Is Covenant Baptist Theological Seminary Inc legitimate?
Covenant Baptist Theological Seminary Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covenant Baptist Theological Seminary Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $226,181
Professional Fundraising Fees: $0
Other Salaries and Wages: $159,707
For more financial information, click here
Official website here: www.cbtseminary.org
What is the mission statement of Covenant Baptist Theological Seminary Inc?
Covenant Baptist Theological Seminary Inc's mission is centered around aiding the church in preparing men for various pastoral duties in the service of Christ and His kingdom. The seminary accomplishes this by offering a wide range of educational programs. In 2022, a significant number of students completed their courses, totaling 736 classes and 1,830 credits. Eight students graduated during the same year. Additionally, the seminary introduced a new academic program, the Master of Arts in Theological Studies in Counseling, in 2022. This program is designed to equip Christians with the necessary skills for face-to-face service in the realm of Christ and His kingdom.
Official website here: www.cbtseminary.org
Who is the CEO of Covenant Baptist Theological Seminary Inc?
Samuel Waldron is the Principal Officer of Covenant Baptist Theological Seminary Inc.
Official website here: www.cbtseminary.org
What is the revenue of Covenant Baptist Theological Seminary Inc?
Covenant Baptist Theological Seminary Inc's revenue in 2022 was $1,062,168.
Official website here: www.cbtseminary.org
Who are the executives of Covenant Baptist Theological Seminary Inc and what are their salaries?
The average compensation at Covenant Baptist Theological Seminary Inc during 2022 was $48,236. There are 8 employees at Covenant Baptist Theological Seminary Inc.
Here are 16 key members and their salaries:
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- Compensation: $12,000
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Official website here: www.cbtseminary.org
Where can I find the form 990 for Covenant Baptist Theological Seminary Inc?
Covenant Baptist Theological Seminary Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cbtseminary.org
Learn more at the official website: www.cbtseminary.org
Mission Statement of Covenant Baptist Theological Seminary Inc
Covenant Baptist Theological Seminary, a nonprofit organization, is dedicated to assisting the church in preparing men to fulfill various pastoral responsibilities in the service of Christ and His kingdom. Their mission is multifaceted, encompassing the education and equipping of individuals to serve Christ effectively. In 2022, the seminary saw 270 students complete 736 classes, totaling 1,830 credits. This year also marked the launch of a new academic program: the Master of Arts in Theological Studies in Counseling. This program is designed to equip Christians with the skills necessary for face-to-face service in Christ's kingdom. The seminary's programs focus on fostering a strong commitment to service in the context of Christ's kingdom, thereby helping to prepare men for their pastoral roles.
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Impact
July, 2024
Covenant Baptist Theological Seminary Inc's impact can be seen in the significant contribution it makes towards helping the church prepare men for a full range of pastoral responsibilities in service to Christ and His kingdom. In 2022 alone, the seminary had 270 students complete 736 classes, earning a total of 1,830 credits, with eight students successfully graduating. Moreover, CBTS launched a new academic program, the Master of Arts in Theological Studies in Counseling, further expanding its offerings to equip Christians for effective ministry. The programs offered by CBTS are focused on training individuals to serve Christ and His kingdom in a face-to-face manner, ensuring that graduates are well-prepared to make a meaningful impact in their communities.
This information is meant to be a general summary of Covenant Baptist Theological Seminary Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $55
- Program Service Revenue: $370,049
- Gross Receipts: $1,062,168
Assets and Liabilities:
- Total Assets: $573,906
- Total Liabilities: $30,482
- Net Assets: $543,424
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition and fees
Revenue
$336,704
Book Merchandise Sal
Revenue
$9,890
Conference Income
Revenue
$23,455
Organization Details
Founding Year
2019
Phone
(270) 925-6992Principal Officer
Samuel Waldron
Main Address
800 Chuck Gray Ct, Owensboro, KY, 42303
Website
www.cbtseminary.orgNTEE Category
Code: B50 - Education
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