Free Lutheran Theological Seminary Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2017 | 3,338,321 | 3,286,055 | 52,266 | 24.4 | 51% |
| 2018 | 5,338,243 | 3,871,036 | 1,467,207 | 25.2 | 48% |
| 2019 | 4,157,222 | 3,887,729 | 269,493 | 27.6 | 46% |
| 2020 | 3,653,057 | 3,845,300 | −192,243 | 27.3 | 47% |
| 2021 | 4,596,740 | 3,897,485 | 699,255 | 29.1 | 47% |
| 2022 | 4,830,075 | 4,298,468 | 531,607 | 27.8 | 47% |
| 2023 | 5,308,041 | 5,201,675 | 106,366 | 23.2 | 43% |
In its most recent public year (2023), this organization brought in $106,366 more than it spent. Its reserves stood at about 23.2 months of spending, down from 24.4 in 2017. Staff pay was 43% of spending. $1,486,791 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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