Omega Bible Institute & Seminary
EIN: 721298218 · Swartz, LA
| Metric | Value |
|---|---|
| Total Revenue | $48K |
| Total Expenses | $55K |
| Net Assets | $2K |
Is Omega Bible Institute & Seminary Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Omega Bible Institute & Seminary
Omega Bible Institute & Seminary (EIN: 721298218) is a nonprofit organization based in Swartz, LA. The organization reported total revenue of $48K and total assets of $4K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Omega Bible Institute & Seminary's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Omega Bible Institute & Seminary is a micro nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $48K |
| Total Expenses | $55K |
| Surplus / Deficit | $-7,203 |
| Total Assets | $3K |
| Total Liabilities | $735 |
| Net Assets | $2K |
| Operating Margin | -15.1% |
| Debt-to-Asset Ratio | 23.2% |
| Months of Reserves | 0.7 months |
Financial Health Grade: C
In 2023, Omega Bible Institute & Seminary reported a deficit of $7K with expenses exceeding revenue, holds 0.7 months of operating reserves (limited), has a debt-to-asset ratio of 23.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Omega Bible Institute & Seminary's revenue has declined at a compound annual growth rate (CAGR) of -3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.9% | +9.2% | -72.6% |
| 2022 | -8.6% | -11.1% | +38.9% |
| 2021 | -2.3% | +8.5% | +2.1% |
| 2020 | +15.4% | +4.0% | +278.1% |
| 2019 | -6.6% | -18.1% | +5.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Omega Bible Institute & Seminary has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Omega Bible Institute & Seminary with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $7K, with expenses exceeding revenue.
- Debt-to-asset ratio: 23.2%.
Frequently Asked Questions about Omega Bible Institute & Seminary
Is Omega Bible Institute & Seminary a legitimate charity?
Based on AI analysis of IRS 990 filings, Omega Bible Institute & Seminary (EIN: 721298218) insufficient data. 0 red flags identified, 0 strengths noted.
How does Omega Bible Institute & Seminary spend its money?
Detailed spending breakdown data is not yet available for Omega Bible Institute & Seminary. Check back for updated IRS 990 analysis.
Are donations to Omega Bible Institute & Seminary tax-deductible?
Omega Bible Institute & Seminary is registered as a tax-exempt nonprofit (EIN: 721298218). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Omega Bible Institute & Seminary located?
Omega Bible Institute & Seminary is headquartered in Swartz, Louisiana and files with the IRS under EIN 721298218.
How many years of IRS 990 filings does Omega Bible Institute & Seminary have?
Omega Bible Institute & Seminary has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $48K in total revenue.
Filing History
IRS 990 filing history for Omega Bible Institute & Seminary showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Omega Bible Institute & Seminary's revenue has declined by 34.2%, moving from $73K to $48K. Total assets decreased by 17.8% over the same period, from $4K to $3K. Total functional expenses fell by 25.9%, from $74K to $55K. In its most recent filing year (2023), Omega Bible Institute & Seminary reported a deficit of $7K, with expenses exceeding revenue. The organization holds $735 in liabilities against $3K in assets (debt-to-asset ratio: 23.2%), resulting in net assets of $2K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $48K | $55K | $3K | $735 | — | — |
| 2022 | $52K | $50K | $12K | $2K | — | View 990 |
| 2021 | $57K | $57K | $8K | $225 | — | — |
| 2020 | $58K | $52K | $8K | $209 | — | — |
| 2019 | $50K | $50K | $2K | $155 | — | View 990 |
| 2018 | $54K | $61K | $2K | $248 | — | View 990 |
| 2017 | $46K | $48K | $10K | $1K | — | View 990 |
| 2016 | $39K | $30K | $12K | $283 | — | View 990 |
| 2015 | $41K | $41K | $3K | $411 | — | View 990 |
| 2014 | $45K | $48K | $3K | $1K | — | View 990 |
| 2013 | $64K | $62K | $6K | $99 | — | View 990 |
| 2012 | $106K | $104K | $6K | $2K | — | View 990 |
| 2011 | $73K | $74K | $4K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $48K, expenses of $55K, and assets of $3K (revenue -7.9% year-over-year).
- 2022: Revenue of $52K, expenses of $50K, and assets of $12K (revenue -8.6% year-over-year).
- 2021: Revenue of $57K, expenses of $57K, and assets of $8K (revenue -2.3% year-over-year).
- 2020: Revenue of $58K, expenses of $52K, and assets of $8K (revenue +15.4% year-over-year).
- 2019: Revenue of $50K, expenses of $50K, and assets of $2K (revenue -6.6% year-over-year).
- 2018: Revenue of $54K, expenses of $61K, and assets of $2K (revenue +17.8% year-over-year).
- 2017: Revenue of $46K, expenses of $48K, and assets of $10K (revenue +16.8% year-over-year).
- 2016: Revenue of $39K, expenses of $30K, and assets of $12K (revenue -5.2% year-over-year).
- 2015: Revenue of $41K, expenses of $41K, and assets of $3K (revenue -8.4% year-over-year).
- 2014: Revenue of $45K, expenses of $48K, and assets of $3K (revenue -29.1% year-over-year).
- 2013: Revenue of $64K, expenses of $62K, and assets of $6K (revenue -40.0% year-over-year).
- 2012: Revenue of $106K, expenses of $104K, and assets of $6K (revenue +46.2% year-over-year).
- 2011: Revenue of $73K, expenses of $74K, and assets of $4K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Omega Bible Institute & Seminary:
Data Sources and Methodology
This transparency report for Omega Bible Institute & Seminary is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.