Reformed Theological Seminary

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 10/27/2020. To update the information in this column, please email: info@ministrywatch.com


Summary

The purpose of RTS is to serve the church in all branches of evangelical Christianity, especially the Presbyterian and Reformed family, by preparing its leaders, with a priority on pastors, and including missionaries, educators, counselors, and others through a program of theological education on the graduate level, based upon the authority of the inerrant Word of God, the sixty-six books of the Bible, and committed to the Reformed faith as set forth in the Westminster Confession of Faith and the Larger and Shorter Catechisms as accepted by the Presbyterian Church in the United States of America as its standard of doctrine at its first General Assembly in 1789. This program shall be characterized by biblical fidelity, confessional integrity, and academic excellence, and committed to the promotion of the spiritual growth of the students. The breadth of this ministry will include multiple campuses and extensions as led by the Lord.


Contact information

Mailing address:
Reformed Theological Seminary
5422 Clinton Blvd
Jackson, MS 39209-3050

Website: rts.edu

Phone: 601-923-1600

Email: info@rts.edu


Organization details

EIN: 640428676

CEO/President: J Ligon Duncan III

Chairman: Richard L. Ridgeway

Board size: 12

Founder:

Year founded: 1964

Tax deductible: Yes

Fiscal year end: 05/31

Member of ECFA: Yes

Member of ECFA since: 1981


Purpose

Reformed Theological Seminary exists to glorify the Triune God and to serve His Church in all branches of evangelical Christianity, especially Presbyterian and Reformed churches, by providing Reformed graduate theological education that is globally accessible. RTS equips its students for ministry, primarily through pastoral preparation, to be servant leaders marked by "A Mind for Truth, A Heart for God."


Mission statement

The mission of Reformed Theological Seminary is to serve the Church by preparing its leaders, through a program of graduate theological education, based upon the authority of the inerrant Word of God, and committed to the Reformed Faith.


Statement of faith

To ensure that the original purpose and doctrinal distinctives of the seminary are maintained, each trustee, senior administrator, and voting faculty member, with solemn awareness of accountability to God in all that he feels, thinks, says, and does, engages in and subscribes to the following Statement of Belief and Covenant:

There is but one only, the living and true God; and there are three persons in the Godhead, the Father, the Son, and the Holy Spirit; and these three are one God, the same in substance, equal in power and glory.

Scripture is the inspired, inerrant Word of God, the final authority, and only infallible rule of faith and practice. As the Word of God written, all Scripture is self-attesting and is verbally inspired by Almighty God, and therefore without error as originally given.

Reformed theology as set forth in the Westminster Confession of Faith and the Larger and Shorter Catechisms as adopted by the Presbyterian Church in the United States of America as its subordinate standard of doctrine at its first General Assembly in 1789 is founded upon the Word of God, and therefore is to be learned, taught, and proclaimed for the edification of God's people, the government of the Church, the propagation of the faith, and the evangelization of the world by the power of the Gospel of our Lord Jesus Christ.

I sincerely own and believe the statements above, and I will firmly and constantly adhere unto them, and to the utmost of my power I will assert, maintain, and defend the same.

NOW THEREFORE, the undersigned, in the presence of God, states and signifies that he consents, agrees, and binds himself to all of the foregoing without any reservation whatsoever, and that he further obligates himself immediately to notify in writing the Provost should a change of any kind take place in his belief and feeling not in accord with this statement. Amen.

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating849 of 913106 of 111
Fund acquisition rating774 of 915101 of 111
Resource allocation rating758 of 91588 of 111
Asset utilization rating664 of 91393 of 111

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
15%19%22%15%17%7%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%6%7%5%5%5%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%31%29%30%31%65%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%7%7%6%6%8%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%69%71%70%69%35%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%75%75%75%76%75%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%86%100%76%93%60%
Program output ratio Program output ratio =
Program services /
Total revenue
81%65%75%57%71%45%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%14%0%24%7%40%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%4%0%7%2%14%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%18%18%19%18%18%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.510.220.220.200.200.21
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.732.222.522.512.222.16
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.620.490.560.500.440.45
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.0823.9119.6923.9222.7524.14
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.040.050.040.040.04
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.9523.3120.4322.9725.8925.60
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%4%3%3%3%3%
Debt ratio Debt ratio =
Debt /
Total assets
16%2%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
139%431%439%488%486%464%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$2,884,987$1,568,752$1,568,426$1,561,702$2,397,468
Receivables, inventories, prepaids$1,358,936$737,704$1,251,935$633,291$9,046,286
Short-term investments$42,515,507$38,366,240$39,736,392$43,085,711$32,123,130
Other current assets$0$0$0$0$0
Total current assets$46,759,430$40,672,696$42,556,753$45,280,704$43,566,884
Long-term investments$33,005,785$38,606,505$41,030,715$31,272,152$26,154,345
Fixed assets$19,658,047$20,367,673$20,450,282$21,693,022$22,060,542
Other long-term assets$4,487,584$2,816,356$2,747,757$2,484,502$2,279,073
Total long-term assets$57,151,416$61,790,534$64,228,754$55,449,676$50,493,960
Total assets$103,910,846$102,463,230$106,785,507$100,730,380$94,060,844
 
Liabilities20202019201820172016
Payables and accrued expenses$945,175$1,114,880$862,808$982,180$865,737
Other current liabilities$1,010,456$950,954$916,580$1,008,355$938,871
Total current liabilities$1,955,631$2,065,834$1,779,388$1,990,535$1,804,608
Debt$1,774,600$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$852,239$895,543$948,795$1,235,263$1,332,914
Total long-term liabilities$2,626,839$895,543$948,795$1,235,263$1,332,914
Total liabilities$4,582,470$2,961,377$2,728,183$3,225,798$3,137,522
 
Net assets20202019201820172016
Without donor restrictions$45,617,815$47,607,522$53,211,399$48,270,483$42,348,891
With donor restrictions$53,710,561$51,894,331$50,845,925$49,234,099$48,574,431
Net assets$99,328,376$99,501,853$104,057,324$97,504,582$90,923,322
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$8,386,434$6,656,122$8,395,056$6,714,609$21,326,698
Program service revenue$11,154,176$11,504,087$10,817,647$10,140,238$9,565,304
Membership dues$0$0$0$0$0
Investment income$6,770,039$4,221,054$8,885,328$4,130,210$1,315,745
Other revenue$451,393$288,175$24,458$644,352$518,902
Total other revenue$18,375,608$16,013,316$19,727,433$14,914,800$11,399,951
Total revenue$26,762,042$22,669,438$28,122,489$21,629,409$32,726,649
 
Expenses20202019201820172016
Program services$17,329,842$17,095,473$16,057,799$15,271,063$14,599,393
Management and general$4,154,397$4,104,228$3,957,043$3,627,568$3,466,543
Fundraising$1,577,538$1,480,863$1,289,115$1,166,328$1,512,105
Total expenses$23,061,777$22,680,564$21,303,957$20,064,959$19,578,041
 
Change in net assets20202019201820172016
Surplus (deficit)$3,700,265($11,126)$6,818,532$1,564,450$13,148,608
Other changes in net assets$0$0$0$0$0
Total change in net assets$3,700,265($11,126)$6,818,532$1,564,450$13,148,608

Compensation

NameTitleCompensation
J Ligon Duncan IIIChancellor/CEO$339,150
James L HarveyExecutive Director - Nyc$221,386
Robert J CaraProvost/CAO$188,862
Michael J KrugerPresident - Charlotte$180,813
E Bradley TisdaleChief Operations and Financial$173,567
Scott R SwainPresident - Orlando$171,375
John S Redd JrPresident - Washington$170,431
Guy L RichardsonPresident - Jackson$166,505
Matthew BryantSenior VP - Development$160,161
Pauline M StoneChief Institutional Assessment$67,491

Compensation data as of: 5/31/2020


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 10/27/2020. To update the information below, please email: info@ministrywatch.com


History

In June 1963, five ministers met in a Memphis hotel room to pray about the need to establish a new seminary. At that time there was no seminary in the southeastern United States holding to Reformed theology and committed to the Bible as God's inerrant Word, the final authority for faith and life. When the meeting ended, the seed that would become Reformed Theological Seminary had been planted. Through the Lord's provision, the original Jackson campus property was acquired. The property consisted of 14 acres on which was located a two-story white colonial home used for offices and classrooms in those early years. In the fall of 1966, RTS opened its doors for resident studies in Jackson, Mississippi. Seventeen students enrolled. On September 6, Dr. C. Darby Fulton, former Executive Secretary of the Board of World Missions of the Presbyterian Church in the United States, delivered the first convocation address entitled "The Relevancy of the Gospel." Since that time RTS has grown to nine degree-granting campuses: Jackson, MS; Orlando, FL; Charlotte, NC; Washington DC; Atlanta, GA; Houston, TX; Dallas, TX; Sao Paulo, Brazil; and Global Education (U.S. and International). RTS has one partial degree campus in New York, NY.


Program accomplishments


Needs