Free Lutheran Theological Seminary

Education organization based in Minneapolis, MN. 104 employees. Exempt under §501(c)(3).

MissionThe organization operates the Free Lutheran Bible College (FLBC) and the Free Lutheran Seminary (FLS) to provide a faith based education.

EIN
20-0052373
State
MN
Sector
Education
Budget band
$5M–$10M
Latest filing
TY 2023
Records
4 officers · 5 years

Financial snapshot · TY 2023

$6.0M
Total revenue
$5.9M
Total expenses
$17.1M
Net assets

Financial health · TY 2023

95
Strong financial health
Composite score out of 100 based on reserve ratio, program efficiency, and revenue diversification.
Reserve ratio
97
17.5 months of expenses
Program efficiency
91
86.6% spent on programs
Revenue diversity
99
Mix of program fees, grants & contributions

Leadership compensation

Wade Mobley
President
$130,059
28th percentile vs. peers
James Molstre
Chief Academic OffDean of Se
$116,070
19th percentile vs. peers
Larry Myhrer
Vice President of Operations
$108,414
16th percentile vs. peers
Adam Osier
VP - Dean of Bible College
$96,617
19th percentile vs. peers

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Free Lutheran Theological Seminary Executive Compensation | 990 Data | DoubleNine