Puritan Reformed Theological Seminary Foundation
- Assets
- $1.7m
- Revenue
- $128.6k
- Investments
- $1.7m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 11/2005
- Data as of
- 07/2022
- EIN
- 20-2394946
Organization Overview
Puritan Reformed Theological Seminary Foundation is located in Grand Rapids, MI. The organization was established in 2005. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Puritan Reformed Theological Seminary Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2022, Puritan Reformed Theological Seminary Foundation generated $128.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.6% each year . All expenses for the organization totaled $47.3k during the year ending 07/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO RECEIVE, INVEST, MANAGE AND DISTRIBUTE FUNDS IN SUPPORT OF PURITAN REFORMED THEOLOGICAL SEMINARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT OF THE EDUCATIONAL PROGRAMS AND ACTIVITIES OF PURITAN REFORMED THEOLOGICAL SEMINARY THROUGH GRANTS FROM THE FOUNDATION'S EARNINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Kwekel Chairman | OfficerTrustee | 1 | $0 |
William Ter Harmsel Vice Chairman | OfficerTrustee | 1 | $0 |
Peter Schenderling Member | Trustee | 1 | $0 |
Matt Stam Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,200 |
| Total Program Service Revenue | $0 |
| Investment income | $29,291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $69,150 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,641 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,265 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $30 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $47,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $993 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,747,631 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,748,674 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,544,890 |
| Net assets with donor restrictions | $203,784 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,748,674 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Puritan Reformed Theological Seminary Foundation has recieved totaling $0.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: SEMINARY SCHOLARSHIP | | $0 |
Organization Name not Listed PURPOSE: SEMINARY SCHOLARSHIP | | $0 |
Endowment Analysis
| Beg. Balance | $1,917,030 |
| Earnings | -$152,334 |
| Net Contributions | $30,200 |
| Grants | $47,265 |
| Ending Balance | $1,747,631 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Schools International Insurance Plan And Trust Fund Grandville, MI | $5,188,497 | $9,699,281 |
Saginaw Valley State University Foundation University Center, MI | $94,804,323 | $8,609,845 |
University Of Wisconsin-Eau Claire Foundation Inc Eau Claire, WI | $103,402,476 | $22,599,486 |
Detroit Public Schools Foundation Detroit, MI | $5,212,797 | $6,732,219 |
Clven National House Corporation Carmel, IN | $3,795,815 | $8,533,157 |
Wright State University Foundation Inc Dayton, OH | $166,064,682 | $13,302,016 |
Charles & Ellora Alliss Educational Foundation Milwaukee, WI | $87,576,345 | $9,781,011 |
Medical Educational And Development Foundation Coldwater, OH | $428,237 | $6,392,233 |
Sc Health Sciences Inc Livonia, MI | $92,182,712 | $5,946,054 |
Charles P Taft Memorial Fund Cincinnati, OH | $192,672,147 | $13,464,389 |
Indiana State University Foundation Inc Terre Haute, IN | $120,588,616 | $29,901,749 |
Science And Technology Campus Corporation Columbus, OH | $41,499,463 | $6,865,691 |