Asbury Theological Seminary
81% goes to programs $10 to raise $100 Strong reserves
Asbury Theological Seminary is a 501(c)(3) organization based in Wilmore, Kentucky, registered in 1943, with $45,282,439 in FY2023 revenue. CharityIndex grades it A, and it directs about 81% of spending to programs.
204 N Lexington Ave, Wilmore, KY, 40390 EIN 61-0445823 Since 1943
Revenue (FY2023)
$45.3M
▲ 30.8% vs prior year
Education median: $200K
Expenses (FY2023)
$43.4M
Net assets
$359.4M
Employees
539
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating81% to programs · $10 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Asbury Theological Seminary: 81% to programs · $10 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating99 mo reserves · +4% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Asbury Theological Seminary: 99 mo reserves · +4% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Asbury Theological Seminary: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Asbury Theological Seminary: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Asbury theological seminary is a community called to prepare theologically educated, sanctified, spirit-filled men and women to evangelize and to spread scriptural holiness throughout the world through the love of jesus christ, in the power of the holy spirit and to the glory of god the father.
Contact & location
- Address
- 204 N Lexington Ave, Wilmore, KY, 40390
- City
- Wilmore
- State
- Kentucky
- Category
- Education
- Subcategory
- Graduate & Professional Schools
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $37.4M (FY2013) to $45.3M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $4.4MNet assets $359.4M
Operating margin
4.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$363.8M
Total liabilities
$4.4M
Net assets
$359.4M
Salaries & benefits
$19.2M
44% of expenses
Board members
25
25 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $45,282,439▲30.8% | $43,353,684▲11.7% | $359,437,140▲1.3% | $363,833,537▲1.3% | 990 |
| 2022 | $34,624,370▼55.5% | $38,815,722▼1.6% | $354,934,314▼0.9% | $359,303,307▼1.2% | 990 |
| 2021 | $77,871,146▲47.5% | $39,441,449▲6.3% | $358,236,379▲10.6% | $363,518,683▲8.9% | 990 |
| 2020 | $52,800,131▲59.2% | $37,102,998▲27.4% | $323,784,443▲20.1% | $333,796,449▲19.4% | 990 |
| 2019 | $33,165,613▼0.7% | $29,118,589▼0.8% | $269,569,129▲1.1% | $279,583,970▲0.8% | 990 |
| 2018 | $33,402,302▲0.3% | $29,347,647 | $266,568,114▲1.4% | $277,244,548▲0.6% | 990 |
| 2017 | $33,289,997▲35.3% | $29,348,904▲2.7% | $262,888,522▲3.4% | $275,579,338▲1.9% | 990 |
| 2016 | $24,603,210▼4.1% | $28,589,741▼0.9% | $254,238,039▲4.4% | $270,552,532▲3.9% | 990 |
| 2015 | $25,644,020▼25.4% | $28,861,406▲8.8% | $243,511,470▼4.9% | $260,320,361▼4.7% | 990 |
| 2014 | $34,378,900▼8.2% | $26,535,112▲8.0% | $255,960,087▲1.5% | $273,162,169▲1.2% | 990 |
| 2013 | $37,449,478 | $24,579,280▲2.8% | $252,192,447▲9.6% | $270,036,406▲9.1% | 990 |
| 2012 | — | $23,906,051▼0.8% | $230,092,361▼0.4% | $247,489,072▼1.1% | 990 |
| 2011 | — | $24,089,704▲7.4% | $231,007,367▲7.7% | $250,144,641▲7.7% | 990 |
| 2010 | — | $22,422,993 | $214,587,653 | $232,278,589 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Timothy C Tennent — $394,193 (0.91% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Timothy C Tennent | President | 40 | $394,193 |
| Jay Mansur | Vice President | 40 | $209,840 |
| Gregg Okesson | Vice President | 40 | $182,924 |
| Bryan P Blankenship | Vice President & Treasurer | 40 | $165,265 |
| Kevin Bish | Vice President | 40 | $161,215 |
| Tammy Hogan | Vice President | 40 | $149,248 |
| Jay Barnes | Vice President | 40 | $140,673 |
| Thomas Mccall | Faculty | 40 | $131,173 |
| Amy Wasserbauer | Trustee | 1 | — |
| Andy Hurst | Trustee | 1 | — |
| Anna Jackson | Trustee & Secretary | 1 | — |
| Charles Savage II | Trustee | 1 | — |
| Dale S Ditto | Trustee | 1 | — |
| David Olshine | Trustee | 1 | — |
| Debra Mckenna Blews | Trustee | 1 | — |
| E Dale Locke | Trustee | 1 | — |
| Elaine Friedrich | Trustee | 1 | — |
| Greg Spillyards | Trustee | 1 | — |
| Helen Rhea Stumbo | Trustee | 1 | — |
| James Dunn | Trustee | 1 | — |
Top vendors & contractors (FY2020)
| Contractor | Services | Paid |
|---|---|---|
| Jonathan Edwards | Video Producer | $122,549 |
Grants received · $4.7M total
106 grants to Asbury Theological Seminary totaling $4.7M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Grants made · $827K in FY2023
8 grants totaling $827K in FY2023. All grants made by Asbury Theological Seminary →
| Recipient | Purpose | Amount |
|---|---|---|
| Asbury Foundation For Theological Education Inc | Support the organization | $732,262 |
| Magnolia Avenue Umc | Church support | $20,000 |
| Awaken City Church | Church support | $20,000 |
| Wesleyan Church Corporation | Church support | $15,000 |
| Christ Our Life Anglican Church | Church support | $10,000 |
| Perception Funding Inc | Church support | $10,000 |
| Resilience Church | Church support | $10,000 |
| Foundry Church | Church support | $10,000 |
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Frequently asked questions
- Is Asbury Theological Seminary a legitimate nonprofit?
- Yes. Asbury Theological Seminary is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 61-0445823, based in Wilmore, Kentucky. Donations are tax-deductible.
- What is Asbury Theological Seminary's EIN?
- Asbury Theological Seminary's Employer Identification Number (EIN) is 61-0445823.
- How much revenue does Asbury Theological Seminary report?
- Asbury Theological Seminary reported $45,282,439 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Asbury Theological Seminary's spending goes to programs?
- Asbury Theological Seminary spends about 81% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Asbury Theological Seminary have?
- CharityIndex grades Asbury Theological Seminary A, based on program efficiency and fundraising cost.
- How much does Asbury Theological Seminary's highest-paid employee make?
- The highest reported compensation on Asbury Theological Seminary's latest Form 990 is $394,193, paid to Timothy C Tennent (President).
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Data for Asbury Theological Seminary (EIN 61-0445823) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.