Westminster Theological Seminary
- Assets
- $54.4m
- Revenue
- $33.7m
- Investments
- $3.4m
- Employees
- 263
- Location
- Glenside, PA
- Founding
- 10/1989
- Data as of
- 06/2022
- 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 06/2022, Westminster Theological Seminary employed 263 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 06/2022, Westminster Theological Seminary generated $33.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $26.9m during the year ending 06/2022. While expenses have increased by 9.8% per year over the past 7 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
2022
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 2021 ENROLLMENT WAS 904 STUDENTS WITH 322 IN THE RESIDENTIAL PROGRAM, 472 IN ONLINE LEARNING, 110 IN THE KOREAN CAMPUS, AND 7 VISITING STUDENTS. WITH RESPECT TO SPRING 2022, ENROLLMENT WAS 998 WITH 315 IN THE RESIDENTIAL PROGRAM, 556 IN ONLINE LEARNING, 127 IN THE KOREAN CAMPUS AND 6 VISITING STUDENTS.RESIDENTIAL PROGRAMS: FALL 2021 - 165 IN MDIV, 27 IN MAR, 31 IN THM, 46 IN PHD, 53 IN DMIN; SPRING 2022 - 155 IN MDIV, 24 IN MAR, 38 IN THM, 45 IN PHD, 53 IN DMIN.
ONLINE LEARNINGONLINE 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 THEOLOGICAL STUDIES, WE HAVE STARTED OFFERING THE MASTER OF DIVINITY (MDIV) AND MASTER OF ARTS IN RELIGION (MAR) ONLINE. IN FALL 2021, WE HAD 114 STUDENTS IN THE MATS PROGRAM, 256 IN MAC, 26 IN MAR, 61 IN THE MDIV, AND 15 CERTIFICATE STUDENTS. IN SPRING 2022, 129 IN MATS, 303 IN MAC, 34 IN MAR, 70 IN MDIV, AND 20 CERTIFICATE STUDENTS.
WTSBOOKS.COMWESTMINSTER BOOKSTORE IS THE CAMPUS BOOKSTORE FOR WESTMINSTER THEOLOGICAL SEMINARY. WE EXIST TO SERVE THE KINGDOM OF GOD BY SERVING 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 |
|---|---|---|---|
John Weiser Board Chairman | OfficerTrustee | 5 | $0 |
M Douglas Hart Board Vice Chairman | OfficerTrustee | 5 | $0 |
Francis Mcgowen Board Treasurer | OfficerTrustee | 5 | $0 |
John Maynard Trustee | Trustee | 5 | $0 |
Harry Reeder Trustee | Trustee | 5 | $0 |
Larry Puls Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Christian Counseling & Educational Fdn Teaching Fees | 6/29/22 | $1,085,472 |
Buxmont Services Llc Contractor Services | 6/29/22 | $365,635 |
Kell Partners Llc Software Services | 6/29/22 | $227,900 |
Cliftonlarsonallen Llp Accounting Services | 6/29/22 | $323,582 |
Open Book Communications Marketing Services | 6/29/22 | $223,649 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $458,672 |
| Related organizations | $69,310 |
| Government grants | $39,615 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,472,046 |
| Noncash contributions included in lines 1a–1f | $338,593 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,039,643 |
| Total Program Service Revenue | $14,868,480 |
| Investment income | $164,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $89,549 |
| Net Gain/Loss on Asset Sales | $591,994 |
| Net Income from Fundraising Events | -$25,474 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,728,567 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,625,504 |
| Grants and other assistance to Foreign Orgs/Individuals | $168,518 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,143,810 |
| Compensation of current officers, directors, key employees. | $679,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,046,050 |
| Pension plan accruals and contributions | $399,177 |
| Other employee benefits | $624,962 |
| Payroll taxes | $558,898 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $113,121 |
| Fees for services: Accounting | $72,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $61,478 |
| Fees for services: Other | $2,558,085 |
| Advertising and promotion | $839,991 |
| Office expenses | $451,513 |
| Information technology | $851,962 |
| Royalties | $0 |
| Occupancy | $295,872 |
| Travel | $316,912 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $616,374 |
| Interest | $42,102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,419,307 |
| Insurance | $0 |
| All other expenses | $340,310 |
| Total functional expenses | $26,877,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,818,143 |
| Savings and temporary cash investments | $2,121 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $632,160 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $116,185 |
| Inventories for sale or use | $1,056,191 |
| Prepaid expenses and deferred charges | $358,939 |
| Net Land, buildings, and equipment | $12,778,569 |
| Investments—publicly traded securities | $8,769,310 |
| Investments—other securities | $3,361,565 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,538,237 |
| Total assets | $54,431,420 |
| Accounts payable and accrued expenses | $1,349,723 |
| Grants payable | $0 |
| Deferred revenue | $1,981,325 |
| 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 | $392,958 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $646,023 |
| Total liabilities | $4,370,029 |
| Net assets without donor restrictions | $14,218,817 |
| Net assets with donor restrictions | $35,842,574 |
| 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 | $54,431,420 |