Westminster Theological Seminary
- Assets
- $50.1m
- Revenue
- $28.7m
- Investments
- $3.2m
- Employees
- 269
- Location
- Glenside, PA
- Founding
- 10/1989
- Data as of
- 06/2021
- EIN
- 23-1352689
Organization Overview
Westminster Theological Seminary is located in Glenside, PA. The organization was established in 1989. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Westminster Theological Seminary employed 269 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster Theological Seminary 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 06/2021, Westminster Theological Seminary generated $28.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $22.3m during the year ending 06/2021. While expenses have increased by 8.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FORM CHRISTIAN LEADERS TO PROCLAIM THE WHOLE COUNSEL OF GOD THROUGHOUT A CHANGING WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POSTGRADUATE ACADEMIC PROGRAMSWESTMINSTER EXISTS TO TRAIN SPECIALISTS IN THE BIBLE TO PROCLAIM THE WHOLE COUNSEL OF GOD FOR CHRIST AND HIS GLOBAL CHURCH. IT IS OUR INTENTION TO CONTRIBUTE TO THE TRAINING AND SPIRITUAL FORMATION OF ALL OF OUR STUDENTS IN THE VARIOUS DEGREE PROGRAMS. WE CURRENTLY OFFER PROGRAMS LEADING TO THE MASTER OF DIVINITY (MDIV), MASTER OF ARTS IN RELIGION (MAR), MASTER OF ARTS IN COUNSELING (MAC), MASTER OF ARTS IN THEOLOGICAL STUDIES (MATS), MASTER OF THEOLOGY (THM), DOCTOR OF MINISTRY (DMIN), DOCTOR OF PHILOSOPHY (PHD), AND A CERTIFICATE IN CHRISTIAN STUDIES (CERT).FALL 2020 ENROLLMENT WAS 850 STUDENTS WITH 245 ENROLLED IN THE MDIV PROGRAM; 45 IN THE MAR; 272 IN THE MAC; 91 IN THE MATS, 41 IN THE THM; 50 IN THE PHD; 104 IN THE DMIN; AND 2 IN OTHERS. SPRING 2021 ENROLLMENT WAS 898 STUDENTS, WITH 248 IN THE MDIV PROGRAM; 55 IN THE MAR; 284 IN THE MAC; 112 IN THE MATS; 42 IN THE THM; 50 IN THE PHD; 103 IN THE DMIN; AND 4 IN OTHERS.
ONLINE LEARNING:ONLINE LEARNING PROVIDES MULTIPLE DEGREE PROGRAMS ONLINE TO TRAIN LEADERS IN MINISTRY ANYWHERE IN THE WORLD IN THEIR LOCAL MINISTRY CONTEXTS. IN ADDITION TO MASTER OF ARTS IN COUNSELING AND A MASTER OF ARTS IN CHRISTIAN STUDIES, WE HAVE STARTED OFFERING THE MASTER OF DIVINITY (MDIV) AND MASTER OF ARTS IN RELIGION (MAR) ONLINE. AS A RESULT WE NOW HAVE NEARLY 820 STUDENTS ENROLLED ONLINE.
WTSBOOKS.COMWESTMINSTER BOOKSTORE IS THE CAMPUS BOOKSTORE FOR WESTMINSTER THEOLOGICAL SEMINARY. WE EXIST TO SERVE THE KINGDOM OF GOD BY SERVING BOTH THE WESTMINSTER THEOLOGICAL SEMINARY COMMUNITY THROUGH THE DISTRIBUTION OF HIGH QUALITY, BIBLICALLY FAITHFUL, REFORMED BOOKS AND RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Timmis VP Of Adv.,eng And Stewardship | Officer | 45 | $189,506 |
Chun Lai VP Of Finance And Operations | Officer | 45 | $140,679 |
Israel Massincaud Director Of Finance & Hr (part Year) | Officer | 45 | $128,614 |
Yohan Kim Director Of Online Learning | 45 | $128,332 | |
Peter Lillback President | Officer | 45 | $124,900 |
Steve Carter VP Campus Life | Officer | 45 | $124,732 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Center Consulting Services | 6/29/21 | $250,000 |
Delran Construction Services | 6/29/21 | $3,034,273 |
Teamlogic It It Services | 6/29/21 | $238,058 |
Christian Counseling & Educational Fdn Teaching Fees | 6/29/21 | $953,214 |
Openbook Communications Capital Campaign Assistance | 6/29/21 | $403,970 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $63,488 |
| Government grants | $382,640 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,412,477 |
| Noncash contributions included in lines 1a–1f | $389,169 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,858,605 |
| Total Program Service Revenue | $12,934,149 |
| Investment income | $140,727 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,922 |
| Net Gain/Loss on Asset Sales | $655,343 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,664,746 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,164,618 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,301,922 |
| Compensation of current officers, directors, key employees. | $790,012 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,149,370 |
| Pension plan accruals and contributions | $366,607 |
| Other employee benefits | $784,773 |
| Payroll taxes | $461,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,096 |
| Fees for services: Accounting | $55,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,299 |
| Fees for services: Other | $2,561,819 |
| Advertising and promotion | $440,598 |
| Office expenses | $457,106 |
| Information technology | $646,633 |
| Royalties | $0 |
| Occupancy | $299,337 |
| Travel | $149,297 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $136,409 |
| Interest | $37,708 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,260,815 |
| Insurance | $0 |
| All other expenses | $667,001 |
| Total functional expenses | $22,346,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,770,971 |
| Savings and temporary cash investments | $2,117 |
| Pledges and grants receivable | $663,693 |
| Accounts receivable, net | $525,267 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,265 |
| Inventories for sale or use | $991,082 |
| Prepaid expenses and deferred charges | $358,061 |
| Net Land, buildings, and equipment | $12,340,358 |
| Investments—publicly traded securities | $11,275,537 |
| Investments—other securities | $3,232,526 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,912,970 |
| Total assets | $50,091,847 |
| Accounts payable and accrued expenses | $1,857,065 |
| Grants payable | $0 |
| Deferred revenue | $1,386,111 |
| 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 | $432,247 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $786,971 |
| Total liabilities | $4,462,394 |
| Net assets without donor restrictions | $12,917,691 |
| Net assets with donor restrictions | $32,711,762 |
| 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 | $50,091,847 |
Grants Recieved
Over the last fiscal year, we have identified 21 grants that Westminster Theological Seminary has recieved totaling $9,004,214.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $5,438,975 |
Servant Foundation Overland Park, KS PURPOSE: EDUCATION | $2,997,756 |
Faithful Servants Foundation Yorba Linda, CA PURPOSE: EDUCATIONAL ASSISTANCE | $130,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $122,850 |
Pete M Hanna Charitable Foundation Hoover, AL PURPOSE: SUPPORT OF PROGRAMS | $100,000 |
Ii Corinthians 9 7 Foundation 12021243 Powell, WY PURPOSE: UNRESTRICTED GIFT | $68,132 |
Endowment Analysis
| Beg. Balance | $9,036,869 |
| Earnings | $1,657,368 |
| Admin Expense | $47,676 |
| Net Contributions | $1,876,955 |
| Other Expense | $339,384 |
| Ending Balance | $12,184,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Geisinger Commonwealth School Of Medicine Danville, PA | $148,792,015 | $48,699,077 |
American College King of Prussia, PA | $101,126,239 | $39,801,880 |
Albany Law School Albany, NY | $122,483,245 | $40,164,228 |
Cairn University Langhorne, PA | $53,369,669 | $36,996,664 |
International Federation Of Accountants New York, NY | $24,926,636 | $31,445,814 |
Mount Carmel College Of Nursing Columbus, OH | $64,622,852 | $25,045,878 |
Union Theological Seminary New York, NY | $238,656,208 | $35,345,843 |
Cleveland Institute Of Music Cleveland, OH | $89,548,246 | $30,049,400 |
Urban Teacher Center Baltimore, MD | $9,319,490 | $29,990,040 |
Hackensack Meridian School Of Medicine A Nj Nonprofit Corporatio Edison, NJ | $53,683,933 | $22,703,274 |
Westminster Theological Seminary Glenside, PA | $50,091,847 | $28,664,746 |
New York College Of Podiatric Medicine New York, NY | $55,714,669 | $20,085,509 |