Eastern University

Summary

Eastern University is a comprehensive Christian university that enrolls about 3,500 students in its undergraduate, graduate, Seminary, international, urban and professional degree programs. All education at Eastern University is rooted in its core values of faith, reason and justice.


Contact information

Mailing address:
Eastern University
1300 Eagle Road
St. Davids, PA 19087-3696

Website: eastern.edu

Phone: 610-341-5800

Email: admissions@eastern.edu


Organization details

EIN: 231409675

CEO/President: Dr. Ronald A. Matthews

Chairman: Steve Clemens

Board size: 26

Founder:

Year founded: 1953

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

Eastern University is dedicated to ideas, inquiry, and the development of people of faith who will enhance the quality of society and the church. Toward that end, Eastern will continue to expand its formative role in the world as a university in which knowledge and wisdom are imbued, Christlike engagement is inspired, and stewardship is modeled.


Mission statement

Eastern University is a Christian university dedicated to the preparation of undergraduate, theological and graduate students for thoughtful and productive lives of Christian faith, leadership and service. The mission is confirmed and celebrated when graduates believe their way into knowledgeable action that influences the world in substantive ways.


Statement of faith

Scripture: We believe that the Bible, composed of Old and New Testaments, is inspired by God and serves as the rule of faith and practice, being the authoritative witness to the truth of God embodied in Jesus Christ. God: We believe in one God eternally existing as Three Persons. We believe in God the Creator, author of all life and our salvation. We believe that God created human beings, male and female, in the image of God as an expression of God's eternal love, to live in God's perfect will. As such, human beings are called to be faithful stewards of God's creation and to live in relations with God, each other, and the created world. We believe in God the Spirit, Lord and giver of life, who reveals Jesus Christ to human beings to transform them through conversion and sanctification to full humanity as willed by the Creator. We believe that Jesus Christ was conceived through the power of the Holy Spirit, born of the Virgin Mary, and is truly God and truly human. We believe that he lived a fully human life as Jesus of Nazareth, who walked with us, ministered to us, and proclaimed the Reign of God. Because human beings sinned and suffered the penalty of death, we further believe in the life and death of the Lord for our sins, in the resurrection of his body, in his ascension to heaven, and in his personal and visible future return to the earth. Salvation: We believe that our salvation is received through faith by grace through Jesus Christ, the only and sufficient mediator between God and humanity. Baptism & the Lord's Supper: We believe that Jesus Christ commanded us to be baptized and to partake of the Supper in his name. We believe that baptism is the immersion of a believer in water in the name of God the Father, God the Son, and God the Holy Spirit, signifying redemption through the death and resurrection of Jesus Christ together with the believer's death to sin and resurrection to newness of life. We believe that the Lord's Supper is a commemoration of the Lord's death until he returns. The Church: We believe that the Church is Jesus Christ's body on earth, called to witness and proclaim the good news of God's Reign and salvation to the world. The Church consists of believers, called by Jesus Christ to worship God, serve one another in a spirit of love and truth, and to proclaim God's Reign-not only through word, but also through deeds of love and justice. As a witness to the Reign of God, the Church embodies God's will to be one in diversity, to care for "the least of these," and to proclaim hope. Therefore, the Church is a light unto the world at all times and in all places.

Transparency grade

This ministry has not been assigned a transparency grade.

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating229 of 5865 of 53
Fund acquisition rating290 of 58633 of 53
Resource allocation rating130 of 58619 of 53
Asset utilization rating368 of 5864 of 53

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20182017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%27%38%40%32%21%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%2%2%2%2%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
94%6%5%5%5%6%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%2%2%2%2%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
6%94%95%95%95%94%
 
Operating ratiosMedian % for
all ministries in
MW database
20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%87%87%88%87%89%
Spending ratio Spending ratio =
Total expenses /
Total revenue
98%94%100%106%100%100%
Program output ratio Program output ratio =
Program services /
Total revenue
80%82%88%93%87%89%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
2%6%0%-6%0%0%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%9%-1%-9%0%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%11%11%10%11%10%
 
Investing ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.070.820.820.830.800.76
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.692.212.202.222.092.20
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.181.811.811.851.681.67
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.797.287.887.798.736.63
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.110.140.130.130.110.15
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.715.725.795.656.336.09
 
Solvency ratiosMedian % for
all ministries in
MW database
20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%40%40%42%40%41%
Debt ratio Debt ratio =
Debt /
Total assets
0%32%32%34%33%32%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
75%73%73%70%75%78%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$8,891,083$13,340,467$13,930,873$18,898,864$22,167,127
Receivables, inventories, prepaids$6,590,136$4,880,850$6,257,858$6,545,883$6,928,457
Short-term investments$29,912,412$28,279,659$26,394,499$27,680,918$24,024,619
Other current assets$0$0$0$0$0
Total current assets$45,393,631$46,500,976$46,583,230$53,125,665$53,120,203
Long-term investments$879,734$948,814$1,037,034$1,222,808$5,890,521
Fixed assets$52,371,548$52,507,546$53,559,387$54,408,916$55,459,129
Other long-term assets$1,833,296$2,303,465$2,281,504$2,499,066$2,329,634
Total long-term assets$55,084,578$55,759,825$56,877,925$58,130,790$63,679,284
Total assets$100,478,209$102,260,801$103,461,155$111,256,455$116,799,487
 
Liabilities20182017201620152014
Payables and accrued expenses$4,285,721$4,165,359$4,066,188$4,520,235$4,882,729
Other current liabilities$1,952,534$1,736,058$1,916,549$1,567,404$3,133,424
Total current liabilities$6,238,255$5,901,417$5,982,737$6,087,639$8,016,153
Debt$31,746,645$33,141,825$35,057,805$36,302,534$37,519,579
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$2,199,266$2,243,865$2,497,136$2,308,887$1,805,943
Total long-term liabilities$33,945,911$35,385,690$37,554,941$38,611,421$39,325,522
Total liabilities$40,184,166$41,287,107$43,537,678$44,699,060$47,341,675
 
Net assets20182017201620152014
Unrestricted$30,090,210$31,976,031$32,283,621$37,892,831$40,568,335
Temporarily restricted$1,915,689$2,004,718$2,598,714$2,450,860$2,622,724
Permanently restricted$28,288,144$26,992,945$25,041,142$26,213,704$26,266,753
Net assets$60,294,043$60,973,694$59,923,477$66,557,395$69,457,812
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$5,031,784$4,060,832$3,871,210$4,905,983$5,368,864
Program service revenue$72,250,040$76,058,767$74,131,531$79,455,480$78,828,479
Membership dues$0$0$0$0$0
Investment income$8,218,558$1,730,384$1,393,222$3,366,814$2,518,251
Other revenue$1,873,444$1,896,057$1,658,729$1,618,476$1,873,269
Total other revenue$82,342,042$79,685,208$77,183,482$84,440,770$83,219,999
Total revenue$87,373,826$83,746,040$81,054,692$89,346,753$88,588,863
 
Expenses20182017201620152014
Program services$71,762,281$73,443,989$75,630,343$77,600,654$79,016,719
Management and general$8,985,368$9,110,745$9,039,942$9,997,510$8,780,013
Fundraising$1,367,861$1,535,506$1,543,070$1,560,012$1,132,736
Total expenses$82,115,510$84,090,240$86,213,355$89,158,176$88,929,468
 
Change in net assets20182017201620152014
Surplus (deficit)$5,258,316($344,200)($5,158,663)$188,577($340,605)
Other changes in net assets$0$0$0$0$0
Total change in net assets$5,258,316($344,200)($5,158,663)$188,577($340,605)

Response from ministry

No response has been provided by this ministry.


History

Over 90 years ago, on March 19, 1925, at 1:30 p.m. in the headquarters of the American Baptist Publication Society on Chestnut Street in Philadelphia, six Baptist ministers founded what was then called the Eastern Baptist Theological Seminary. According to Gordon Baker, Pastor of First Baptist Church of Schenectady, NY at the time, and one of the six founders at that meeting ninety years ago that afternoon, the seminary was founded to provide Baptist churches with pastors who were both biblically informed and also culturally relevant. Soon thereafter, college courses were added to the seminary curriculum to upgrade the academic qualifications of prospective ministerial students. A Collegiate Department of Eastern Baptist Theological Seminary was officially established in 1932, which originally offered a two-year liberal arts program. In 1951, Eastern Baptist College was organized as a separate institution and relocated to the former Charles S. Walton estate in St. Davids, PA. Early in 1972, the legal name of the school was changed to Eastern College: A Baptist Institution. In 1951, Eastern Baptist College was organized as a separate institution and relocated to St. Davids, PA. A few years later, a correspondence school was added. It was an attempt to meet the educational needs of those who could neither travel to Philadelphia nor whose current life situation made theological education feasible to access. Eastern's commitment to shaping education and curriculum to the adult learner continues through its graduate and adult undergraduate programs today. The first Eastern College graduate program (MBA) was approved in 1981. Eastern College was granted University status in December 2001. In 2003, the University was reunited with the Seminary. Because of its growing complexity and expansion into international venues, Eastern College was granted University status in December, 2001. In 2003, the University was reunited with its mother institution, Eastern Baptist Theological Seminary. Honoring the legacy of its longest-serving president, Gordon Palmer, Eastern Baptist Theological Seminary was renamed Palmer Theological Seminary on July 1, 2005. Today, the University enrolls approximately 3,300 students in undergraduate, graduate, urban, professional, international and seminary programs both on-ground and online. Its core values of faith, reason and justice are woven into all of its educational programs.


Program accomplishments

Eastern University was named to the Templeton Honor Roll of Character-building Colleges and the Honor Roll of Exemplary First-year Programs.


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