SHEPHERDS THEOLOGICAL SEMINARY INC

EIN: 200180768 501(c)(3) Education

CARY, NC

Total Revenue
$7,598,959
Total Expenses
$4,767,870
Total Assets
$5,566,534
Net Assets
$5,259,333
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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
NC
Principal Officer
EWART HODGINS
Phone
9195735350
Tax Period
2024-07-01 to 2025-06-30

SHEPHERDS THEOLOGICAL SEMINARY INC, founded in 2003, is a community nonprofit in the Education sector that reported $7.6M in total revenue in fiscal year 2024. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.8M, a strong 37% operating margin.

Mission

TO TRAIN MEN AND WOMEN FOR MINISTRY.

Program Service Accomplishments

Program 1
Expenses: $3,634,869 Revenue: $1,968,801

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...

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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.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,463,007
Program Service Revenue $1,968,801
Investment Income $150,933
Other Revenue $16,218
TOTAL REVENUE $7,598,959

Expense Breakdown

Grants Paid $218,443
Salaries & Benefits $2,542,211
Fundraising Expenses $136,408
Program Expenses $3,634,869
Other Expenses $2,007,216
TOTAL EXPENSES $4,767,870

Year-over-Year Comparison

2024 2023 Change
Revenue $7,598,959 $4,864,504 +0.6%
Expenses $4,767,870 $3,649,130 +0.3%
Net Income $2,831,089 $1,215,374 +1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
11
Employees
33
Volunteers
16

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$183,539
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID BURGGRAFF PROVOST DEAN 40.00
Highest
$144,510 $0 $144,510
THOMAS PITTMAN VP OF ACADEM 40.00
Officer
$100,827 $0 $100,827
EWART HODGINS CFO 20.00
Officer
$82,712 $0 $82,712
THOMAS BABER BOARD MEMBER 1.00
Director
$0 $0 $0
ALAN CROPSEY BOARD MEMBER 1.00
Director
$0 $0 $0
STEPHEN DAVEY PRESIDENT 5.00
Officer Director
$0 $0 $0
PAM GERACE SECRETARY 2.00
Officer Director
$0 $0 $0
BOBBY GODFREY CHAIRMAN OF 1.00
Officer Director
$0 $0 $0
DON HONG BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID GIBBS III BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL MARTIN BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL NEWBY BOARD MEMBER 1.00
Director
$0 $0 $0
ARNE NEWMAN BOARD MEMBER 1.00
Director
$0 $0 $0
JACK OWEN BOARD MEMBER 1.00
Director
$0 $0 $0
WAYNE WITT TREASURER 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $7,598,959 $4,767,870 $5,566,534 $2,831,089
2024 $4,864,504 $3,649,130 $2,986,406 $1,215,374
2023 $3,691,999 $3,532,885 $1,717,921 $159,114
2022 $3,082,209 $2,949,881 $1,634,882 $132,328
2021 $3,230,898 $2,701,715 $1,562,546 $529,183
2020 $2,615,396 $2,510,776 $1,702,408 $104,620
2019 $2,039,632 $1,964,703 $922,245 $74,929
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