Shepherds Theological Seminary

The information on this page was last updated 3/29/2023. If you see errors or omissions, please email: [email protected]


Summary

A Seminary for the Local Church, in the Local Church


Contact information

Mailing address:
Shepherds Theological Seminary
6051 Tryon Road
Cary, NC 27518

Website: shepherds.edu

Phone: (919) 573-5350

Email: [email protected]


Organization details

EIN: 200180768

CEO/President: Stephen Davey

Chairman:

Board size: 0

Founder: Stephen Davey

Ruling year: 2004

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 2015


Purpose

Our vision is to transform the way seminary is done, with a focus on scholarship, leadership, and discipleship, both in and for the local church. We are the local-church seminary with a global impact.


Mission statement

Our mission is to impact the world for Christ by equipping servant leaders for life and ministry, strategically shaping both intellect and character through biblical scholarship and personal mentoring.


Statement of faith

Visit: https://shepherds.edu/sts-doctrinal-statement/

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating258 of 110423 of 129
Fund acquisition rating366 of 110539 of 129
Resource allocation rating718 of 110589 of 129
Asset utilization rating69 of 11045 of 129

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
9%7%8%4%5%5%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%4%5%2%4%3%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
22%51%64%64%66%59%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%4%5%3%4%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
78%49%36%36%34%41%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%80%78%82%81%82%
Spending ratio Spending ratio =
Total expenses /
Total revenue
95%96%96%84%96%96%
Program output ratio Program output ratio =
Program services /
Total revenue
77%76%75%69%78%79%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
5%4%4%16%4%4%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
5%13%13%57%27%26%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%16%17%15%15%15%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.512.061.801.731.472.13
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.611.961.301.311.231.53
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.404.032.342.271.813.27
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.631.842.431.991.081.06
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.120.540.410.500.920.94
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
7.371.363.022.640.500.21
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
24%29%36%41%77%69%
Debt ratio Debt ratio =
Debt /
Total assets
11%0%0%0%0%6%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
151%34%36%34%16%15%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$813,298$1,147,686$1,097,768$821,425$369,358
Receivables, inventories, prepaids$63,307$113,300$94,095$562,145$72,519
Short-term investments$0$0$0$0$159,665
Other current assets$0$0$0$0$0
Total current assets$876,605$1,260,986$1,191,863$1,383,570$601,542
Long-term investments$0$0$0$0$0
Fixed assets$743,675$287,096$283,883$233,038$234,903
Other long-term assets$97,641$86,800$86,800$85,800$85,800
Total long-term assets$841,316$373,896$370,683$318,838$320,703
Total assets$1,717,921$1,634,882$1,562,546$1,702,408$922,245
 
Liabilities20232022202120202019
Payables and accrued expenses$476,274$496,564$571,112$965,980$531,788
Other current liabilities$0$22,445$27,035$313,628$36,041
Total current liabilities$476,274$519,009$598,147$1,279,608$567,829
Debt$0$0$0$0$55,000
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$28,777$62,127$42,981$30,565$11,801
Total long-term liabilities$28,777$62,127$42,981$30,565$66,801
Total liabilities$505,051$581,136$641,128$1,310,173$634,630
 
Net assets20232022202120202019
Without donor restrictions$641,641$488,889$366,612$11,585($81,891)
With donor restrictions$571,229$564,857$554,806$380,650$369,506
Net assets$1,212,870$1,053,746$921,418$392,235$287,615
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$1,888,617$1,971,308$2,081,190$1,727,161$1,208,334
Program service revenue$1,758,264$1,022,628$1,064,534$864,890$803,226
Membership dues$0$0$0$0$0
Investment income$0$0$916$0$170
Other revenue$45,118$88,273$84,258$23,345$27,902
Total other revenue$1,803,382$1,110,901$1,149,708$888,235$831,298
Total revenue$3,691,999$3,082,209$3,230,898$2,615,396$2,039,632
 
Expenses20232022202120202019
Program services$2,819,034$2,298,049$2,228,632$2,031,105$1,614,383
Management and general$573,637$496,573$395,349$387,905$285,093
Fundraising$140,214$155,259$77,734$91,766$65,227
Total expenses$3,532,885$2,949,881$2,701,715$2,510,776$1,964,703
 
Change in net assets20232022202120202019
Surplus (deficit)$159,114$132,328$529,183$104,620$74,929
Other changes in net assets$0$0$0$0$0
Total change in net assets$159,114$132,328$529,183$104,620$74,929

Compensation

NameTitleCompensation
Tim SiglerProvost Dean$134,038
Thomas PittmanVP of Academ$86,830
Ewart HodginsCFO$65,420

Compensation data as of: 6/30/2023


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/29/2023. To update the information below, please email: [email protected]


History

Shepherds Theological Seminary was birthed in the local church in 2003 by Stephen Davey, pastor/teacher of The Shepherd's Church (formerly called, Colonial Baptist Church) with the vision ". . . to produce a generation of servant leaders who are equipped for effective ministry within their local church, and to prepare those who will serve vocationally as pastors, teachers, global workers, educators, and ministry leaders." Over the years, Shepherds has grown from a handful of graduate students in one degree program to a vibrant accredited seminary now offering seven degrees and three diploma studies. Our graduates are serving Christ and His church in 18 countries abroad as well as 30 states here in our own country. We remain a local-church-based seminary with a passion to train the minds, impact the hearts, and prepare the hands of our students for the calling of God in their lives.


Program accomplishments

Celebrating 20 Years of Equipping Servant Leaders for Life and Ministry


Needs