Calvin Theological Seminary
- Assets
- $78.9m
- Revenue
- $13.5m
- Investments
- $5.8m
- Employees
- 119
- Location
- Grand Rapids, MI
- Founding
- 06/1993
- Data as of
- 06/2022
- EIN
- 38-3001876
Organization Overview
Calvin Theological Seminary is located in Grand Rapids, MI. The organization was established in 1993. As of 06/2023, Calvin Theological Seminary employed 119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Calvin 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, Calvin Theological Seminary generated $13.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $10.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CALVIN THEOLOGICAL SEMINARY EXISTS TO SERVE THE CHRISTIAN REFORMED CHURCH BY PREPARING PERSONS FOR BIBLICALLY FAITHFUL AND CONTEXTUALLY EFFECTIVE MINISTRY OF THE WORD.
Describe the Organization's Program Activity:
THE SEMINARY'S PRIMARY PURPOSE IS THE EDUCATION AND TRAINING OF OVER 300 STUDENTS TO PREPARE THEM FOR MINISTRY AND LEADERSHIP IN THE CHURCH.
THE FACULTY HERITAGE FUND PROVIDES FUNDS FOR RESEARCH AND PROFESSIONAL DEVELOPMENT FOR SEMINARY FACULTY.
AUXILIARY REVENUES INCLUDE ACTIVITIES FOR STUDENT HOUSING. THIS IS ONLY HOUSING REVENUES AND EXPENDITURES.
THE CALVIN THEOLOGICAL JOURNAL AND CTS FORUM PROVIDE OPPORTUNITIES FOR STUDENTS AND FACULTY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Chairman | OfficerTrustee | 5 | $0 |
Name Not Listed Board Vice Chairman | OfficerTrustee | 4 | $0 |
Name Not Listed Board Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rockford Construction Remodeling Services | 6/29/22 | $643,300 |
Integrated Architecture Architectural Design Services | 6/29/22 | $221,543 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $219,569 |
| Related organizations | $1,920,528 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,268,254 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,408,351 |
| Total Program Service Revenue | $2,559,573 |
| Investment income | $1,073,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,034 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,385,497 |
| Net Income from Fundraising Events | -$34,029 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,491,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,195,980 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $430,368 |
| Compensation of current officers, directors, key employees. | $96,575 |
| Compensation to disqualified persons | $3,000 |
| Other salaries and wages | $4,066,579 |
| Pension plan accruals and contributions | $340,484 |
| Other employee benefits | $200,460 |
| Payroll taxes | $136,105 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,709 |
| Fees for services: Accounting | $51,326 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $307,284 |
| Fees for services: Other | $326,074 |
| Advertising and promotion | $341,574 |
| Office expenses | $178,369 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,423,806 |
| Travel | $311,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $137,824 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $422,316 |
| Insurance | $0 |
| All other expenses | $620,136 |
| Total functional expenses | $10,741,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,436,329 |
| Savings and temporary cash investments | $912,954 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $235,209 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $400,849 |
| Net Land, buildings, and equipment | $16,342,769 |
| Investments—publicly traded securities | $52,707,491 |
| Investments—other securities | $5,783,162 |
| Investments—program-related | $1,088,710 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $78,907,473 |
| Accounts payable and accrued expenses | $1,671,070 |
| Grants payable | $0 |
| Deferred revenue | $125,855 |
| 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 | $172,302 |
| Total liabilities | $1,969,227 |
| Net assets without donor restrictions | $19,407,743 |
| Net assets with donor restrictions | $57,530,503 |
| 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 | $78,907,473 |
Grants Awarded
Over the last fiscal year, Calvin Theological Seminary has awarded $414,949 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CALVIN COLLEGE PURPOSE: Calvin Prison initiative | $374,949 |
CALVIN COLLEGE PURPOSE: Calvin Institute for Christian Worship, annual Worship Symposium | $40,000 |