Covenant Baptist Theological Seminary Inc (EIN 841978807) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

Samuel Waldron

Phone

2709256992

Tax Period

2025-01-01 to 2025-12-31

Covenant Baptist Theological Seminary Inc, founded in 2019, is a community nonprofit in the Education sector that reported $1.5M in total revenue in fiscal year 2025. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $1.4M left a modest 5% surplus.

Mission

Helping the church to prepare men to undertake the full range of pastoral responsibilities in serving Christ and His kingdom

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $810,472

Program Service Revenue $673,246

Investment Income $28,815

Other Revenue $0

TOTAL REVENUE $1,512,533

Expense Breakdown

Grants Paid $97,727

Salaries & Benefits $724,451

Fundraising Expenses $55,292

Program Expenses $1,262,678

Other Expenses $618,965

TOTAL EXPENSES $1,441,143

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,512,533	$1,323,815	+0.1%
Expenses	$1,441,143	$1,212,445	+0.2%
Net Income	$71,390	$111,370	-0.4%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$204,036

Total Directors

$17,255

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAMUEL E WALDRON	President	40.00	Officer	$92,599	$0	$92,599
LINDSAY B BIGHAM JR	Treasurer	40.00	Officer	$91,077	$0	$91,077
JOHN MILLER	Vice President	20.00	Officer	$20,360	$0	$20,360
LEE MCKINNON	Director	0.00	Director	$9,415	$0	$9,415
MIKE WATERS	Director	0.00	Director	$2,180	$0	$2,180
TOM HICKS	Director	0.00	Director	$1,805	$0	$1,805
BEN CARLSON	Board Secretary	0.00	Director	$1,455	$0	$1,455
JIM SAVASTIO	Director	0.00	Director	$1,200	$0	$1,200
RON MILLER	Chairman	0.00	Director	$1,200	$0	$1,200
FRED MALONE	Director	0.00	Director	$0	$0	$0
JON HUENI	Director	0.00	Director	$0	$0	$0
DANIEL WOLFORD	Director	0.00	Director	$0	$0	$0
MICHAEL VILLA	Director	0.00	Director	$0	$0	$0
EDUARDO F RIVERA	Director	0.00	Director	$0	$0	$0
JUSTIN MILLER	Director	0.00	Director	$0	$0	$0
JAMES SMITH	Director	0.00	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	$1,512,533	$1,441,143	$836,005	$71,390
2024	No data	No data	No data	No data
2023	$1,004,739	$929,807	$635,339	$74,932
2022	$1,062,168	$833,481	$573,906	$228,687
2021	$613,155	$572,387	$333,424	$40,768
2020	$543,935	$447,219	$291,816	$96,716

Covenant Baptist Theological Seminary Inc