Covenant Theological Seminary

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 5/25/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

Most people don't last in ministry because they feel frustrated and under-prepared. At Covenant Theological Seminary our unique whole-person training produces capable pastors and ministry leaders. The result is that you have an impact and can flourish for a lifetime of ministry while the church gets the faithful leadership it deserves.


Contact information

Mailing address:
Covenant Theological Seminary
12330 Conway Road
St. Louis, MO 63141

Website: covenantseminary.edu

Phone: 314-434-4044

Email: inbox@covenantseminary.edu


Organization details

EIN: 430863116

CEO/President:

Chairman: Dr. Miles Gresham

Board size: 0

Founder:

Year founded: 1974

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 1987


Purpose

Foundational Emphases: Our Core Values

Christ-Centered Ministry: We believe that a seminary education is successful only if, at its end, the student knows Jesus Christ more intimately than at its beginning. Our approach to ministry training finds both its source and its goal in the person and work of Christ-and in the knowledge that the ultimate end of one's education is not for oneself alone, but for the sake of the church and the glory of God.

Biblical Authority: We believe that the Bible is the Word of God and therefore it is our only infallible rule of faith and practice. We believe in the plenary, verbal inspiration of the Scriptures by the Holy Spirit, and thus we affirm the inerrancy of the original manuscripts whose objective truth it is our responsibility to interpret and proclaim in accord with the principles of Scripture.

Grace Foundation - We believe that the foundation for all that we do must be the gospel of grace-our absolute confidence in God's acceptance of us provided through his redemptive work in Jesus Christ as the supreme motivation and enablement for love and holiness. We aim to embody this gospel life as we live, learn, worship, and work together in a covenantal community of grace.

Relational Emphasis: We believe that the teaching of content is only part of a seminary education. Meaningful relationships between students and professors must be nurtured both in and out of the classroom so that the entire character of the student-head, hands, and heart-might be transformed for ministry.

Ministry Training: We believe that our primary task is to train students for pastoral and ministry leadership-including counseling, church planting, campus ministry, chaplaincy, and missionary service. To accomplish this purpose, we have gathered a faculty of pastor-scholars who are not only first-rate educators but also experienced ministry practitioners.

Church Leadership: We believe that, as the seminary of the Presbyterian Church in America (PCA), it is our responsibility to provide pastoral training that is grounded in the Westminster Standards and the historic distinctives of Presbyterian orthodoxy while equipping the next generation of Christian servants for effective church leadership in a changing world.

Kingdom Perspective: We believe that God's ultimate purpose is the gathering of his people from every nation and the renewal of all things. He calls his church to active involvement with the world's peoples and cultures to carry out the mission of bringing the gospel to those who do not believe and expressing Christ's lordship across generations, geography, and into every area of life.


Mission statement

We equip pastors, counselors and ministry leaders for a lifetime of faithful ministry. See what makes our biblical whole-person training unique.


Statement of faith

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating517 of 89483 of 111
Fund acquisition rating15 of 8948 of 111
Resource allocation rating871 of 894109 of 111
Asset utilization rating593 of 89483 of 111

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
15%10%8%12%13%11%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%6%6%8%9%7%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%63%74%72%67%69%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%6%7%9%9%8%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%37%26%28%33%31%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%63%62%60%58%64%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%102%81%96%97%90%
Program output ratio Program output ratio =
Program services /
Total revenue
81%65%50%57%56%57%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%-2%19%4%3%10%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%0%4%1%1%2%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%31%31%31%32%28%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.510.170.160.190.180.19
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.731.451.451.591.781.91
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.620.240.240.300.330.36
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.0859.9251.6442.4530.3918.19
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.020.020.020.030.05
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.9548.5749.4139.1835.1731.18
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%2%3%3%5%6%
Debt ratio Debt ratio =
Debt /
Total assets
16%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
139%582%593%516%514%492%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$1,370,324$5,383,524$2,182,976$976,827$2,148,708
Receivables, inventories, prepaids$509,389$538,821$417,745$520,614$539,241
Short-term investments$34,862,326$31,423,178$28,844,811$25,665,264$21,241,385
Other current assets$0$0$0$0$0
Total current assets$36,742,039$37,345,523$31,445,532$27,162,705$23,929,334
Long-term investments$0$3,957,817$1,238,784$0$0
Fixed assets$15,939,297$12,343,535$16,863,528$18,719,723$19,414,511
Other long-term assets$448,231$500,972$601,743$2,596,922$2,353,702
Total long-term assets$16,387,528$16,802,324$18,704,055$21,316,645$21,768,213
Total assets$53,129,567$54,147,847$50,149,587$48,479,350$45,697,547
 
Liabilities20202019201820172016
Payables and accrued expenses$356,576$514,792$482,523$696,907$860,795
Other current liabilities$256,612$208,364$258,289$196,807$454,473
Total current liabilities$613,188$723,156$740,812$893,714$1,315,268
Debt$20,139$68,472$116,806$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$570,851$635,898$718,049$1,484,866$1,537,760
Total long-term liabilities$590,990$704,370$834,855$1,484,866$1,537,760
Total liabilities$1,204,178$1,427,526$1,575,667$2,378,580$2,853,028
 
Net assets20202019201820172016
Unrestricted$22,083,665$21,455,561$16,260,663$13,882,336$13,062,877
Temporarily restricted$29,841,724$31,264,760$7,575,265$7,855,227$5,876,987
Permanently restricted$0$0$24,737,992$24,363,207$23,904,655
Net assets$51,925,389$52,720,321$48,573,920$46,100,770$42,844,519
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$5,511,806$8,114,304$7,059,179$6,227,601$6,621,323
Program service revenue$3,204,632$2,844,094$2,762,836$3,053,110$3,045,387
Membership dues$0$0$0$0$0
Investment income($521)($617)($6,868)($1,933)($7,624)
Other revenue$0$0$0$0$0
Total other revenue$3,204,111$2,843,477$2,755,968$3,051,177$3,037,763
Total revenue$8,715,917$10,957,781$9,815,147$9,278,778$9,659,086
 
Expenses20202019201820172016
Program services$5,639,196$5,508,551$5,634,466$5,229,851$5,544,400
Management and general$2,753,250$2,728,058$2,937,040$2,898,047$2,458,651
Fundraising$534,402$657,015$833,760$835,511$699,807
Total expenses$8,926,848$8,893,624$9,405,266$8,963,409$8,702,858
 
Change in net assets20202019201820172016
Surplus (deficit)($210,931)$2,064,157$409,881$315,369$956,228
Other changes in net assets($584,001)$2,082,244$2,063,269$2,940,882($1,135,237)
Total change in net assets($794,932)$4,146,401$2,473,150$3,256,251($179,009)

Compensation

Compensation data for this ministry has not been collected.


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 5/25/2021. To update the information below, please email: info@ministrywatch.com


History

Per Wikipedia: "The seminary was established by Christians in the Evangelical Presbyterian Church, (which later merged with the Reformed Presbyterian Church, General Synod to form Reformed Presbyterian Church-Evangelical Synod), who believed that their denomination, born out of resistance to rising liberal influences, needed a strong theological school of its own. In 1956, Covenant College and Seminary began with eleven students on a plot of land a few miles west of St. Louis, Missouri (having split from Faith Theological Seminary[5]). The seminary continued to grow in both size and reputation in the years that followed. In 1964, having outgrown its space, the liberal arts undergraduate school, Covenant College, along with its students, faculty, and staff, moved to Lookout Mountain, Georgia to the site of a former luxury hotel.[6] In 1966, the two institutions formally divided. In 1982, following another denominational merger (known as the "joining and receiving") between the Reformed Presbyterian Church and the Presbyterian Church in America, Covenant Seminary became the national seminary of the PCA, which elects and oversees the work of the seminary's Board of Trustees."


Program accomplishments


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