Free Lutheran Theological Seminary Corporation 
The information on this page was last updated 5/25/2023. If you see errors or omissions, please email: [email protected]
Summary
FLBC is a two-year Bible college designed to help students know and understand God's Word. FLS is a four-year pastoral training program at the gradual level. The campus is part of the greater Twin Cities metro area, located in Plymouth, Minnesota.
Contact information
Mailing address:
Free Lutheran Theological Seminary Corporation
3134 E. Medicine Lake Blvd
Plymouth, MN 55441-3308
Website: flbc.edu
Phone: 763-544-9501
Email: [email protected]
Organization details
EIN: 200052373
CEO/President: Dr. Wade Mobley
Chairman: Phil Johnson
Board size: 11
Founder: the Association of Free Lutheran Congregations
Ruling year: 2018
Tax deductible: Yes
Fiscal year end: 07/31
Member of ECFA: Yes
Member of ECFA since: 2018
Purpose
Our objectives are that graduates of the Free Lutheran Bible College and Seminary will:
Demonstrate a comprehensive understanding of Scripture, subscribing to its inspiration, infallibility, and inerrancy without reservation, confessing its authority and demonstrating the ability to accurately interpret it. Grow in spiritual maturity informed by the Law and motivated and empowered by the Gospel. Understand the function of the local congregation and the place of the individual believer in its fellowship and ministry as guided by the AFLC Fundamental Principles. Participate in making disciples of all nations, especially through involvement in the local congregation.
Mission statement
Our mission is to establish students in the eternal and inerrant Word of God for a life of faith in Jesus Christ and faithful service in His Kingdom.
Statement of faith
What we believe is foundational to everything we do at the Free Lutheran Schools. The Biblical Foundation Statement below outlines our core doctrines and beliefs found in Scripture.
We bear witness that the Bible is the only authentic and infallible source of God's revelation to mankind, and that it is the only inerrant and completely adequate source and norm of Christian doctrine and life. We hold that the Bible is inerrant in its original manuscripts, and as a whole and in all its parts, the Word of God under all circumstances regardless of one's attitude toward it. (AFLC "Declaration of Faith") Isaiah 40:8; John 5:39; John 10:35; 2 Timothy 3:16,17; John 14:26; John 15:26,27; Ephesians 2:20; Hebrews 1:1,2; 2 Peter 1:20,21; Revelation 22:18,19.
We bear witness that God is one divine essence, and that there are three persons in this one divine essence, equal in power and alike eternal: God the Father, God the Son, God the Holy Spirit. All three are one divine essence, eternal, without division, without end, of infinite power, holiness, wisdom, and goodness. (Augsburg Confession, Art. I) Deuteronomy 6:4; Isaiah 44:6; Matthew 3:16-17; Matthew 28:19; John 10:30; John 5:32 & 14:16-17; 2 Corinthians 13:4; 1 Timothy 1:17.
We bear witness that God is the Father Almighty, Maker of heaven and earth. We bear witness that the Genesis account of human origins is a faithful historical record in which God created the universe including Adam and Eve in six literal days. (Free Lutheran Seminary Corporation, June 13, 2007) Genesis 1:1-31; Exodus 31:17-18; Psalm 33:6, 9; Colossians 1:16; Revelation 4:11.
We bear witness that God the Son became man, born of the Virgin Mary, and that the two natures, divine and human, are so inseparably united in one person that there is one Christ, true God and true man, who was truly born, suffered, was crucified, died, and was buried in order to be a sacrifice not only for original sin but also for all other sins and to propitiate God's wrath. The same Christ also descended into hell, truly rose from the dead on the third day, ascended into heaven, and sits on the right hand of God that he may eternally rule and have dominion over all creatures. The same Lord Jesus Christ will return openly to judge the living and the dead. (Augsburg Confession, Art. III) Matthew 25:31-33; Luke 1:35; John 1:1,14; Romans 3:24,25; 1 Corinthians 15:3-4, 20; 2 Corinthians 5:21; Ephesians 4:4-6; Philippians 2:5-11; 1 Thessalonians 4:15-18.
We bear witness that the Holy Spirit is true God together with the God the Father and the God the Son. Through the Word of God, the Holy Spirit uses the Law to awaken in our hearts a deep sense of sin and He uses the Gospel in Word and Sacrament to cause us to receive the grace of God in Christ. Through the enlightenment of the Holy Spirit, one's knowledge of the Gospel becomes a true and living faith as a repentant sinner lays hold of Christ as his only Savior from sin, death, and the power of Satan. We bear witness that the Holy Spirit graciously sanctifies a believer in which He day by day renews him more and more after the image of God. Through the Word of God and the Lord's Supper, the Holy Spirit graciously preserves the believer through all temptations in the true and living faith until the end. (Luther's Small Catechism and Explanation, Questions 199, 202, 203, 210, 212, 229, 233) John 15:26; Acts 5:3-4; 2 Corinthians 3:5,6; Ephesians 1:13-14; Ephesians 6:17; 2 Thessalonians 2:13-14.
We bear witness that although Adam and Eve were created in the image of God, because of the temptation of Satan and their fall into sin, every person propagated according to nature is born in sin. We bear witness that this hereditary sin is truly sin and condemns to the eternal wrath of God all those who are not born again through Baptism and the Holy Spirit. (Augsburg Confession, Art. II) Genesis 1:27; Psalm 39:4-5; John 3:3,5; Romans 3:10-18; 5:12; Ephesians 2:1.
We bear witness that we cannot obtain forgiveness of sin and righteousness before God by our own merits, works, or satisfactions, but that in justification, we receive forgiveness of sin and become righteous before God by grace, for Christ's sake, through faith, when we believe that Christ suffered for us and that for his sake our sin is forgiven and righteousness and eternal life are given to us. We bear witness that God regards and reckons this faith as righteousness. (Augsburg Confession, Art. IV) Romans 3:21-24; Romans 5:1; 2 Corinthians 5:21; Galatians 3:16; Ephesians 2:8,9.
We bear witness that sanctification is the gracious work of the Holy Spirit whereby He day by day renews the believer more and more after the image of God. Empowered and motivated by the Holy Spirit and the Gospel of grace, the believer denies himself, strives against the devil, the world, and his own flesh and grows in love toward God and man and seeks to do the will of God in all things. (Luther's Small Catechism and Explanation, Questions 229, 231) Matthew 16:24; Galatians 5:22-25; 2 Corinthians 4:16; 2 Thessalonians 2:13; 1 John 3:9.
We bear witness that the Means of Grace, Gospel-Word and Sacraments (Baptism and the Lord's Supper), are the instruments through which the saving and sanctifying benefits of Christ's death on the cross are conveyed to a repentant and believing sinner. Through these means, God gives the Holy Spirit who creates faith in those who hear the Gospel. We bear witness that the Sacraments are holy ordinances made by God Himself, in which He gives and confirms His invisible grace through outward and visible means. We bear witness that since Baptism is offered to all and since all are born in a state of sin, infants too should be baptized, receiving therein the regeneration conveyed through water and the Spirit. We bear witness that the Lord's Supper is for true Christians wherein the forgiveness of sins, life and salvation are given through believing reception of the true Body and true Blood of Christ in, with, and under the bread and wine. (Augsburg Confession, Art.'s IX, X, XIII; Luther's Small Catechism and Explanation, Questions 333-357) Matthew 16:19; Matthew 26:27; John 20:22-23; Acts 2:38-39; Romans 1:16; Romans 10:17; Galatians 3:27; 2 Thessalonians 2:14; 2 Timothy 3:14-15; 1 Peter 1:23; 1 Peter 3:21.
We bear witness that the one holy Christian Church is the assembly of all believers among whom the Gospel is preached in its purity and the Sacraments are administered according to the Gospel. We bear witness that the holy Christian Church is found in the congregation which is the right form of the Kingdom of God on earth. We bear witness that the congregation consists of believers who, by using the Means of Grace and the spiritual gifts as directed by the Word of God, seek salvation and eternal blessedness for themselves and for their fellow men. We bear witness that the congregation is subject to the Word and Spirit of God, and acknowledges no other ecclesiastical authority or government above itself. (Augsburg Confession, Art. VII; AFLC Fundamental Principles, Nos. 1, 2, and 5) Psalm 32:1,2; Matthew 16:17-18; Acts 13:1-3; 2 Corinthians 3:17; Galatians 3:26; Ephesians 4:4-6; 1 Peter 2:9.
We bear witness that although every believer is a member of the "priesthood of all believers," the office of pastoral ministry has been instituted by the Lord Jesus Christ for the preaching and teaching of God's Word and the administration of the Sacraments. A pastor is first of all, a servant of Christ and His Word, and also a servant of the congregation as he administers these Means of Grace. We bear witness further that the order of Creation and the testimony of Scripture, together with the example of Christ and His apostles, teach that women should not hold the pastoral office. (Augsburg Confession, Art. V) Matthew 16:19; Ephesians 4:11-12; 1 Timothy 3:1-7; 1 Timothy 2:12-14; 1 Peter 5:1-4.
We bear witness that the Lord Jesus Christ will return on the last day for judgment and will raise up all the dead, to give eternal life and everlasting joy to those who believe and are elect but to condemn the ungodly and the devil to hell and eternal punishment. We bear witness that eternal life is the blessed state in which believers are free from all evil and live forever in fellowship with their God and Savior, praising God in the company of the holy angels, in everlasting peace and joy. We bear witness that eternal punishment is the dreadful state of separation from God, and everlasting anguish and suffering in hell. (Augsburg Confession, Art. XVII; Luther's Small Catechism and Explanation, Questions 259, 260) John 5:28,29; Acts 1:11; 1 Corinthians 15:23-24; 1 Thessalonians 4:13-18; Revelation 20:11-15.
We bear witness that the Apostolic, Nicene, and Athanasian Creeds, the Unaltered Augsburg Confession, and Luther's Small Catechism are faithful expositions of the truths of Scripture.
We bear witness that the "Fundamental Principles" of the Association of Free Lutheran Congregations are a faithful exposition of the truths of Scripture regarding the nature and mission of the Christian congregation.
Donor confidence score
Transparency grade
A
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Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 698 of 1106 | 95 of 129 |
| Fund acquisition rating | | 282 of 1107 | 31 of 129 |
| Resource allocation rating | | 656 of 1107 | 81 of 129 |
| Asset utilization rating | | 960 of 1106 | 124 of 129 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 7% | 8% | 10% | 12% | 11% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 4% | 4% | 4% | 5% | 5% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 22% | 50% | 52% | 41% | 39% | 41% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 4% | 5% | 5% | 4% | 5% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 78% | 50% | 48% | 59% | 61% | 59% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 81% | 77% | 78% | 79% | 76% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 98% | 89% | 85% | 105% | 94% |
Program output ratio Program output ratio = Program services / Total revenue | 78% | 80% | 69% | 66% | 84% | 72% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 2% | 11% | 15% | -5% | 6% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | 1% | 5% | 7% | -2% | 3% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 15% | 18% | 17% | 16% | 19% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.31 | 0.25 | 0.24 | 0.34 | 0.43 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.64 | 4.73 | 4.96 | 5.53 | 3.32 | 2.83 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.40 | 1.44 | 1.24 | 1.30 | 1.12 | 1.22 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.60 | 51.39 | 31.47 | 81.33 | 14.54 | 32.20 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.02 | 0.03 | 0.01 | 0.07 | 0.03 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.34 | 8.15 | 9.35 | 9.11 | 10.01 | 9.53 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 41% | 42% | 43% | 24% | 1% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 40% | 41% | 43% | 9% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 151% | 194% | 232% | 242% | 227% | 230% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $116,283 | $391,205 | $303,744 | $934,947 | $150,291 |
| Receivables, inventories, prepaids | $543,252 | $350,298 | $209,831 | $238,648 | $143,542 |
| Short-term investments | $2,941,777 | $2,718,661 | $2,483,256 | $2,271,002 | $2,893,732 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $3,601,312 | $3,460,164 | $2,996,831 | $3,444,597 | $3,187,565 |
| Long-term investments | $0 | $25,700 | $25,700 | $25,700 | $0 |
| Fixed assets | $13,183,703 | $13,261,296 | $13,139,696 | $5,084,927 | $5,325,613 |
| Other long-term assets | $234,022 | $400,000 | $400,000 | $2,871,787 | $517,084 |
| Total long-term assets | $13,417,725 | $13,686,996 | $13,565,396 | $7,982,414 | $5,842,697 |
| Total assets | $17,019,037 | $17,147,160 | $16,562,227 | $11,427,011 | $9,030,262 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $11,774 | $38,695 | $29,834 | $41,369 | $31,010 |
| Other current liabilities | $58,304 | $71,264 | $7,013 | $195,599 | $67,979 |
| Total current liabilities | $70,078 | $109,959 | $36,847 | $236,968 | $98,989 |
| Debt | $6,839,573 | $7,067,309 | $7,087,095 | $1,024,118 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $33,128 | $0 | $0 | $1,426,895 | $0 |
| Total long-term liabilities | $6,872,701 | $7,067,309 | $7,087,095 | $2,451,013 | $0 |
| Total liabilities | $6,942,779 | $7,177,268 | $7,123,942 | $2,687,981 | $98,989 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $8,589,467 | $8,609,476 | $8,643,631 | $7,826,378 | $6,203,429 |
| With donor restrictions | $1,486,791 | $1,360,416 | $794,654 | $912,652 | $2,727,844 |
| Net assets | $10,076,258 | $9,969,892 | $9,438,285 | $8,739,030 | $8,931,273 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $2,676,569 | $2,519,228 | $1,871,546 | $1,437,865 | $1,715,919 |
| Program service revenue | $2,489,516 | $2,251,999 | $2,550,991 | $2,078,181 | $2,351,208 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $141,956 | $58,848 | $174,203 | $137,011 | $90,095 |
| Other revenue | $0 | $0 | $0 | $0 | $0 |
| Total other revenue | $2,631,472 | $2,310,847 | $2,725,194 | $2,215,192 | $2,441,303 |
| Total revenue | $5,308,041 | $4,830,075 | $4,596,740 | $3,653,057 | $4,157,222 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $4,235,834 | $3,319,465 | $3,031,802 | $3,055,594 | $2,973,216 |
| Management and general | $779,284 | $766,831 | $678,525 | $622,696 | $724,687 |
| Fundraising | $186,557 | $212,172 | $187,158 | $167,010 | $189,826 |
| Total expenses | $5,201,675 | $4,298,468 | $3,897,485 | $3,845,300 | $3,887,729 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | $106,366 | $531,607 | $699,255 | ($192,243) | $269,493 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $106,366 | $531,607 | $699,255 | ($192,243) | $269,493 |
Compensation
| Name | Title | Compensation |
| Wade Mobley | President | $118,622 |
| James Molstre | Chief Academic OffDean of Se | $106,088 |
| Larry Myhrer | Vice President of Operations | $101,394 |
| Adam Osier | VP - Dean of Bible College | $86,839 |
Compensation data as of: 7/31/2023
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/25/2023. To update the information below, please email: [email protected]
History
The Free Lutheran Bible College and Seminary is a ministry of the Association of Free Lutheran Congregations (AFLC), which began in 1962. Immediately after the AFLC was formed, there was a desire to start a seminary and Bible school for the purpose of training pastors and equipping the laity.
After prayerful consideration, the AFLC proceeded to establish a theological seminary committed to historic Lutheran theology. The Free Lutheran Seminary opened its doors in September, 1964. The founding of the seminary grew out of the need for biblically-trained pastors and Christian workers in the tradition of orthodox Lutheran Pietism. Dr. Iver B. Olson served as the first dean of the seminary, beginning in 1965, followed by Rev. Amos O. Dyrud (1971 to 1981). Dr. Francis W. Monseth became the dean in 1981, and served until his death in 2013. Rev. Robert L. Lee served as interim dean from 2013 until 2015, when Rev. Wade Mobley was called to be the first president of the AFLC Schools and also dean of the seminary. In June 2017, Dr. James Molstre began as dean of the seminary while Mobley continued as president of the schools.
The Free Lutheran Bible College began in 1966 with 13 students. Patterned after the former Lutheran Bible Institute in Minneapolis (founded in 1919), the school's primary goal was to see God transform young people through the teaching of His Word. It was of primary concern among the founders of the AFLC to establish young Christians in the Word of God before college and help believers be equipped for life and ministry in local congregations and communities. Rev. John Strand was the first FLBC dean, followed by Rev. Richard Snipstead (1968 to 1974), Rev. Ken Moland (1975 to 1984), Rev. Donald Greven (1985 to 1996), Rev. James L. Johnson (1996 to 2006), Rev. Joel Rolf (2006 to 2018), Rev. Wade Mobley (2018-2019), and Rev. Adam Osier (2019-Present).
Both the Bible College and Seminary have experienced growth and development over the decades. Today, the Bible College enrollment averages about 100 students each year, with a vision for continued growth. Each year, the seminary student body consists of approximately 10-25 students training for pastoral ministry. The faculty includes 5 full-time instructors who teach in both programs - and several adjunct professors.
In 2018, the Free Lutheran Schools became a member of the Transnational Association of Christian Colleges and Schools (TRACS), having been awarded Accredited Status as a Category III institution by the TRACS Accreditation Commission on October 30, 2018. This status is effective for up to a period of five years. TRACS is recognized by the United States Department of Education, the Council for Higher Education Accreditation and the International Network for Quality Assurance Agencies in Higher Education (INQAAHE).
Program accomplishments
FLBC is a ministry of the Association of Free Lutheran Congregations (AFLC). It receives accreditation through the Transnational Association of Christian Colleges and Schools (TRACS) and is a proud member of the Association for Biblical Higher Education (ABHE).