Westminster Theological Seminary

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 5/24/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

For more than 90 years, Westminster has trained Bible specialists who have served with faithfulness and endurance. Today we're pairing Westminster's trademark excellence with renewed imagination for the cause of Christ and his global church-profound preparation for a profound call.


Contact information

Mailing address:
Westminster Theological Seminary
2960 Church Rd
Glenside, PA 19038

Website: wts.edu

Phone: 215-887-5511

Email: communications@wts.edu


Organization details

EIN: 231352689

CEO/President: Peter Lillback

Chairman:

Board size: 0

Founder: J. Gresham Machen

Year founded: 1989

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 1988


Purpose

An Integrated Curriculum: The Westminster curriculum is grounded in the Word of God. It is intentionally developed in beautiful sequence, with each course building on and informing one another.

An Integrated Delivery: To better equip the global church, Westminster offers programs online and on-campus. Both platforms are optimized to deliver the unique demands of our curriculum.

An Integrated Approach: Ministry is not one-dimensional-so neither can be your preparation. Westminster incorporates rigorous study with relational investment across the facets of ministry and calling.


Mission statement

Westminster Theological Seminary exists to train specialists in the Bible to proclaim the whole counsel of God for Christ and his global church.


Statement of faith

In pursuit of our mission, we value and uphold the following core tenets:

The triune God, Father, Son, and Holy Spirit, is worthy of the worship of all people in all places of his dominion, and this fact must be the fundamental motive for every human activity.

Scripture, as the very Word of God written, is absolutely authoritative and without error. The Bible-centered curriculum is developed on the basis of our motto, "the whole counsel of God."

Reformed orthodoxy, as informed by the system of doctrine contained in the Westminster Standards, and secondarily in other Reformed confessions, represents faithfully and accurately what Scripture teaches.

Biblical exegesis and biblical theology (in the tradition of Geerhardus Vos) in harmony with systematic theology and covenantal apologetics (in the tradition of Cornelius Van Til) are among the crucial methods to be used in interpreting and applying the teaching of Scripture and in developing a biblical worldview.

A learned ministry set in the lifestyle of humble and holy affection for Jesus Christ is essential in today's church and world and must be modeled by the board, administration, faculty, and students.

A fundamental mandate of the church, discipling the nations for the glory of Christ, requires culturally sensitive, theologically competent ministers who have both the ability and the passion to apply the eternal word of Scripture to the changing world in which God has placed us.

Because there is one body and one Spirit, all who would build up the whole body of Christ must make every effort to keep the unity of the Spirit in the bond of peace.

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating808 of 940102 of 112
Fund acquisition rating757 of 94297 of 112
Resource allocation rating802 of 94294 of 112
Asset utilization rating492 of 94059 of 112

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
15%16%19%23%12%23%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%7%7%7%6%8%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%44%39%32%52%35%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%8%8%7%8%8%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%56%61%68%48%65%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%74%74%75%70%69%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%92%90%106%78%101%
Program output ratio Program output ratio =
Program services /
Total revenue
81%68%67%80%55%70%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%8%10%-6%22%-1%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%5%6%-3%13%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%18%17%18%22%23%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.500.490.500.500.430.48
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.742.661.911.951.952.24
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.641.310.960.980.841.06
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.077.3113.7311.0619.8616.44
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.140.070.090.050.06
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.867.9111.5611.1313.5410.59
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%12%8%10%8%12%
Debt ratio Debt ratio =
Debt /
Total assets
16%4%2%2%3%5%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
140%179%184%180%213%186%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$7,070,007$5,799,282$3,855,000$2,578,509$1,759,479
Receivables, inventories, prepaids$1,506,724$1,334,276$1,159,956$1,236,679$866,905
Short-term investments$6,804,706$12,363,184$12,933,972$13,968,789$10,464,201
Other current assets$0$0$0$0$0
Total current assets$15,381,437$19,496,742$17,948,928$17,783,977$13,090,585
Long-term investments$4,297,159$19,280$19,280$19,280$19,280
Fixed assets$11,079,293$7,131,613$6,422,989$6,187,965$6,001,910
Other long-term assets$10,165,315$10,647,985$10,641,260$10,753,250$10,188,463
Total long-term assets$25,541,767$17,798,878$17,083,529$16,960,495$16,209,653
Total assets$40,923,204$37,295,620$35,032,457$34,744,472$29,300,238
 
Liabilities20202019201820172016
Payables and accrued expenses$1,142,372$633,606$933,014$587,168$576,214
Other current liabilities$962,290$786,556$690,372$308,454$220,134
Total current liabilities$2,104,662$1,420,162$1,623,386$895,622$796,348
Debt$1,816,886$585,779$873,038$915,290$1,403,805
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$851,926$817,002$849,746$1,038,695$1,197,759
Total long-term liabilities$2,668,812$1,402,781$1,722,784$1,953,985$2,601,564
Total liabilities$4,773,474$2,822,943$3,346,170$2,849,607$3,397,912
 
Net assets20202019201820172016
Without donor restrictions$11,462,419$7,864,347$6,576,318$6,056,083$5,484,575
With donor restrictions$24,687,311$26,608,330$25,109,969$25,838,782$20,417,751
Net assets$36,149,730$34,472,677$31,686,287$31,894,865$25,902,326
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$9,721,561$8,207,003$5,380,951$10,077,915$4,904,594
Program service revenue$11,881,850$12,107,967$10,743,267$8,707,201$8,668,785
Membership dues$0$0$0$0$0
Investment income$264,834$551,830$445,132$223,963$108,754
Other revenue$78,466$83,682$37,218$235,537$164,107
Total other revenue$12,225,150$12,743,479$11,225,617$9,166,701$8,941,646
Total revenue$21,946,711$20,950,482$16,606,568$19,244,616$13,846,240
 
Expenses20202019201820172016
Program services$14,962,273$13,946,510$13,233,690$10,531,709$9,636,518
Management and general$3,595,683$3,260,651$3,143,279$3,245,296$3,180,002
Fundraising$1,589,827$1,564,916$1,223,634$1,189,431$1,114,267
Total expenses$20,147,783$18,772,077$17,600,603$14,966,436$13,930,787
 
Change in net assets20202019201820172016
Surplus (deficit)$1,798,928$2,178,405($994,035)$4,278,180($84,547)
Other changes in net assets$0$0$0$0$0
Total change in net assets$1,798,928$2,178,405($994,035)$4,278,180($84,547)

Compensation

NameTitleCompensation
Peter LillbackPresident$215,243
Chun LaiVP of Finance and Operations$163,933
David GarnerVP of Advancement$156,619
Steve CarterVP Campus Life$136,983
Yohan KimDirector of Bookstore$123,591
Michael HalpinDirector of Continuing Education$118,339
James SweetProvost & General Counsel$116,700
Gregory BealeProfessor$112,585
Pau Ping Sze ToDirector of Finance$91,291
Jerry TimmisVP of Adv.,Eng and Stewardship$77,194
Israel MassincaudDirector of Finance & HR$28,559

Compensation data as of: 6/30/2020


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 5/24/2021. To update the information below, please email: info@ministrywatch.com


History

Over 90 years ago, our founders faced a choice: to stay in place or to boldly go. The founding of Westminster began in 1929 when J. Gresham Machen-who had spent 23 years as an esteemed scholar at Princeton Theological Seminary-resigned from his Princeton post. Princeton was the preeminent Reformed seminary of the day, but liberalism had been gaining a foothold there.

Machen-and others who soon joined him-felt convicted to oppose theological compromise. Instead, these men chose obedience to the truth of the Bible and centrality of Christ. This came with a cost. Together they sacrificed jobs, status, legacy, and financial security. Machen was even stripped of ministry credentials by his church.

With humble faith in the surpassing power of Christ, Westminster was founded. Amidst the upheaval of change and uncertainty of the future, these men persevered in faith. Just a month before the Great Crash of 1929, the founders opened the door to Westminster Theological Seminary. It held its first class on the first floor of someone's home in Philadelphia. The school had few resources, no land, and no name recognition. It had every worldly reason to fail.

"But to Christ, despite all, we hold." These words were the culmination of Machen's first convocation address. He extolled the glories of Christ and the truth of Scripture as the cause of their new school. He reminded them that their pursuit meant going against growing trends in culture and even in seminary education.

The legacy of faithfulness of the founding faculty continues to embolden us. Machen's faculty and their successors have equipped generations of incisive scholars and bold preachers throughout the 20th century. The scholarship and teaching of Westminster has heavily shaped Christian leaders in America and abroad.

Today, our expert faculty train students with the insight, conviction, and ingenuity they inherited from our founders. Westminster's distinct, robust teaching method empowers students with exegetically grounded systematic theology, biblical counseling, presuppositional apologetics, redemptive-historical hermeneutics, Christ-centered preaching, and extensive historical theology.

Meet some of Westminster's Founders:

J. Gresham Machen (Founder) - When Machen founded Westminster in 1929, he brought with him not only the Old Princeton tradition but confessional fidelity that has shaped our curriculum for over 90 years. Machen created a self-aware and integrated curriculum that is bound together by God's holy, inspired, and inerrant Word as confessed in the Westminster Standards. Machen's life's work was centered on the Gospel of God's Son. His dying telegram reads, "I am so thankful for the active obedience of Christ, there is no hope without it."

Cornelius Van Til (Apologetics and Systematic Theology) - Van Til brought covenantal apologetics to Westminster. He saw how Scripture was the rule of life in biblical studies and pastoral theology-and applied that same methodology to the art of apologetics. For Van Til, apologetics and evangelism were not at odds; the apologetic task was bringing the whole of Scripture to bear on the whole of life with evangelistic fervor.

John Murray (Systematic Theology) - John Murray was one of the first systematic theologians on faculty at Westminster, however, he is most widely known for his commentary on Romans. According to theologian and pastor John Piper, "no other commentary has surpassed Murray in theological depth and precision than Murray on the book of Romans." Murray brought an exegetically grounded systematic theology to Westminster. This means that special revelation controls systematic theology, just as it does with biblical theology, pastoral theology, and apologetics.

Edmund Clowney (Practical Theology) - Edmund Clowney taught practical theology and was Westminster's first president. He instructed his students to preach Christ from all of Scripture as Jesus models in Luke 24. Clowney equipped his students to use their exegetical, biblical, and systematic theology tools to show that "Christ is the author, interpreter, and substance of the whole counsel of God."

Ned Stonehouse (New Testament) - As a student of Geerhardus Vos, Ned Stonehouse emphasized the organic connection of God's one unfolding story of redemption in Scripture. He showed that the best way to understand the New Testament is to understand the Old Testament. Students today are still required to learn both Greek and Hebrew exegesis as prerequisites for all biblical studies classes.


Program accomplishments

By God's grace, our humble beginnings have resulted in great impact.

4,000+ alumni serve churches in over 50 countries

300+ alumni teach as professors around the world

60+ alumni have founded and led schools and seminaries

500+ books have been published by Westminster faculty


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