Grace School of Theology

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 3/15/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

Grace School of Theology offers graduate & undergraduate degree programs and certificate programs. Students can choose to take courses at one of our six sites throughout Texas or online.


Contact information

Mailing address:
Grace School of Theology
3705 College Park Drive
The Woodlands, TX 77384

Website: gsot.edu

Phone: 877-476-8674

Email: info@gsot.edu


Organization details

EIN: 760690847

CEO/President: Dave Anderson

Chairman: Glenn Darby

Board size: 8

Founder: Drs. Charles Ryrie, Dave Anderson, Glenn Darby

Year founded: 2002

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 2009


Purpose

Global vision: Grace School of Theology develops spiritual leaders in every nation who can teach others about the love of Christ, a love that cannot be earned and cannot be lost.


Mission statement

Grace School of Theology is an evangelical Christian institution of higher learning and has as its purpose the offering of programs of study in an environment where academic excellence is emphasized and a biblically based perspective is maintained. Grace is committed to enriching its students spiritually, intellectually, and professionally, and to preparing students to serve God in a global and culturally diverse society.


Statement of faith

The Bible

We believe that the words of the Bible, the 66 books of the Old and New Testaments, are "God-breathed." They give humankind His authoritative revelation, wholly without error of any kind on every topic discussed in the original writings. We believe that the Bible must be interpreted as language is normally used, recognizing the importance of dispensational distinctions.

(Psalm 12:6; 119:89, 130; 160; Isaiah 40:8; 55:8-11; Luke 24:27, 44-47; John 5:39, 17:17; Romans 15:4; 1 Corinthians 2:9-10, 13; Ephesians 1:10; 3:9; 2 Timothy 3:16-17; James 1:21; 1 Peter 1:10-12, 23-25; 2 Peter 1:19-21).

God

We believe in one God eternally existing in three persons: Father, Son, and Holy Spirit, each of whom possess equally all the attributes of deity and characteristics of personality and with each having specific work to perform. We believe that God is a personal being who is the Creator and Sustainer of the universe.

(Matthew 3:16; John 10:30; 14:10; 14:26; 15:26; Ephesians 1:3-4; 6-7; 13-14)

Jesus Christ

We believe that God the Son, Jesus Christ, became flesh through His miraculous conception in a virgin by the Holy Spirit and His birth. He is, therefore, perfect and complete deity and perfect humanity, these being united without mixture in one person forever. We believe that He lived a sinless life and voluntarily and vicariously paid for the sins of all mankind by dying on the cross. We believe in the resurrection of His crucified body, in His ascension to heaven, in His present ministries in heaven, and in his future literal return to the earth.

(Psalm 2:7; 110; Isaiah 7:14; 9:6; Micah 5:2; Matthew 1:18-25; 28:19; Luke 1:26-35; 2:52; John 1:1-3, 14, 18; 3:16; 8:58; 10:30; 17:5; 20:28; 1 Corinthians 15:1-20; Galatians 4:4; Philippians 2:5-8; Colossians 1:14, 15-17; 2:9; 1 Timothy 2:5; Titus 2:13; Hebrews 1:1-3, 6, 8-12; 4:15; 13:8; 1 Peter 1:1; 2:22; 1 John 2:1-2; 3:16; 4:10, 5:20; Revelation 1:17-18; 19-20)

The Holy Spirit

We believe that the Holy Spirit is God and that He has come to reveal and glorify Christ, to convict sinners of sin, righteousness, and judgment, to regenerate, indwell, seal, and baptize believers into the body of Christ, impart gifts to believers, and to enable them to live holy lives.

(Genesis 1:2; Psalm 139:7; Isaiah 40:13-14; Matthew 1:18- 20; 28:19; Luke 1:35; John 1:13; 3:3-8; 6:63; 14:16-17, 26; 15:26; 16:7-15, 13; Acts 2:1-4; 5:3-4; Romans 8:9; 1 Corinthians 2:9,10, 12; 6:19; 12:13; 2 Corinthians 13:14; Ephesians 1:13-14; 2:22; 4:30; 5:18; 2 Thessalonians 2:7; 2 Timothy 3:16- 17; Titus 3:5; Hebrews 9:14; 2 Peter 1:20-21; 1 John 2:20, 27)

Creation

We believe that the Genesis account of creation is to be understood historically and literally and not allegorically or figuratively. We believe that man was created in the image of God and that the first man, Adam, sinned, bringing spiritual death to all, who, therefore, stand condemned and in need of Christ's salvation.

(Genesis 1; Romans 1:20; Colossians 1:15-20; Romans 5:12; Romans 7)

Salvation

We believe that God saves by grace alone, apart from works (whether past or future), those who put their faith in Christ alone as God and Savior from sin. Initial faith resulting in justification and regeneration is not a gift of God. That is, fallen humanity when persuaded by the illuminating and convicting ministry of the Holy Spirit and the drawing ministry of the Father still possesses the capacity to believe in Christ. Such faith precedes regeneration. At the moment of belief, Christ imputes His righteousness to believers and keeps them secure eternally. Based on the promises of God (not works), we believe a person can and should have complete assurance of his or her Eternal Life the moment he or she believes in Christ.

(Isaiah 55:8- 11; Matthew 4:4; 26:28; John 1:4, 9, 12; 3:5, 16, 18, 36; 5:24; 6:29; 14:6; 16:8; 17:17; Acts 4:12; 13:38-39; 16:31; Romans 1:7, 16-17; 3:22, 26; 4:4-5; 5:1, 6-9; 6:11-13, 23; 8:2-4, 9, 12-13, 29-30, 32; 10:4, 17; 1 Corinthians 1:2, 8; 6:11; 12:13; 15:1-4; 2 Corinthians 3:18; 5:21; 7:1; Galatians 2:16; 5:13-26; 6:15; Ephesians 1:3, 7; 2:8-9; 4:22-24; Philippians 3:4-9; Colossians 1:22; 2:6, 10; 3:1- 7, 16; 1 Thessalonians 2:13; 4:3-4; 5:23; Titus 3:5-7; Hebrews 4:12, 10:10, 14; 12:14; James 1:18; 1 Peter 1:18-19, 23; 2:2, 11; 1 John 1:5- 7; 3:2, 5-9; 5:13; Jude 24)

The Christian Walk

We believe that although sinless perfection is not possible in this life, all believers are called to live holy lives in the power of the indwelling Holy Spirit.

(John 17:17; Romans 8:1-17; Galatians 5:13-25; Ephesians 5:26-27; 1 Thessalonians 4:3-4; Hebrews 10:10, 14; 1 John 3:2)

Marriage and Human Sexuality

We believe that all matters of faith and conduct must be evaluated on the basis of Holy Scripture, which is our infallible guide. (2 Timothy 3:16-17) Since the Holy Bible does speak to the nature of human beings and their sexuality, it is imperative that we correctly understand and articulate what the Bible teaches on these matters.

We are committed to the home and family as set forth in Holy Scripture. We believe God has ordained and created marriage to exist between one man and one woman, with absolute marital fidelity. The Bible sets forth specific home and family values, which include the distinct roles of husbands and wives, fathers and mothers, and children. It is our firm conviction that we uphold the dignity of each individual as we embrace the unchanging and longstanding principles of scriptural truth.

Based on Holy Scripture and the constant moral teaching of the universal Church, we believe:

Marriage

We define marriage as the legal, permanent, exclusive, comprehensive, and conjugal "one flesh" union of one man and one woman, intrinsically ordered to procreation and biological family, and in furtherance of the moral, spiritual, and public good of binding father, mother, and child. (Genesis 1:27-28, Genesis 2:18-24, Matthew 19:4-9, Mark 10:5- 9, Ephesians 5:31-33)

Sexual Immorality

We believe that sexual acts outside marriage are prohibited as sinful. Consequently, GRACE members must resist and refrain from any and all sexual acts outside marriage - including but not limited to adultery, fornication, incest, zoophilia, pornography, prostitution, voyeurism, pedophilia, exhibitionism, sodomy, polygamy, polyamory, sologamy, or same-sex sexual acts. (Exodus 20:14, Leviticus 18:7-23, Leviticus 20:10-21, Deuteronomy 5:18, Matthew 15:19, Matthew 5:27-28, Romans 1:26-27, 1 Corinthians 6:9-13, 1 Thessalonians 4:3, Hebrews 13:4, Galatians 5:19, Ephesians 4:17-19, Colossians 3:5)

Sexual Identity

We believe that God created mankind in His image: male (man) and female (woman), sexually different but with equal personal dignity. Consequently, GRACE members must affirm their biological sex and refrain from any and all attempts to physically change, alter, or disagree with their predominant biological sex - including but not limited to elective sex-reassignment, transvestite, transgender, or non- binary "genderqueer" acts or conduct.(Genesis 1:26-28, Romans 1:26-32, 1 Corinthians 6:9-11)

Sexual Orientation

We believe that God created and ordered human sexuality to the permanent, exclusive, comprehensive, and conjugal "one flesh" union of man and woman, intrinsically ordered to procreation and biological family, and in furtherance of the moral, spiritual, and public good of binding father, mother, and child. Consequently, GRACE members must affirm the sexual complementarity of man and woman and resist any and all same-sex sexual attractions and refrain from any and all same- sex sexual acts or conduct, which are intrinsically disordered.(Genesis 1:27, Genesis 2:24, Matthew 19:4-6, Mark 10:5-9, Romans 1:26-27, 1 Corinthians 6:9- 11, Ephesians 5:25-27, Revelation 19:7-9, Revelation 21:2)

Sexual Redemption

We believe that all have sinned and fall short of the glory of God and should seek redemption and harmonious relationship with God through confession, repentance, baptism, and faith in Jesus Christ. Consequently, GRACE members must welcome and treat with respect, compassion, and sensitivity all who experience same-sex attractions or confess sexually immoral acts but are committed to resisting sexual temptation, refraining from sexual immorality, and conforming their behavior to GRACE's Statement of Faith.(Matthew 11:28-30, Romans 3:23, Ephesians 2:1-10, I Corinthians 10:13, Hebrews 2:17-18, Hebrews 4:14-16)

Celibacy

We believe that Holy Scripture grants two life-enhancing options for human sexual behavior: (1) the conjugal "one flesh" marital union of one man and one woman, and (2) celibacy. Either is a gift from God, given as He wills for His glory and the good of those who receive and rejoice in His gift to them. Celibacy and faithful singleness is to be celebrated and affirmed within Grace School of Theology.(Genesis 1:27-28; 2:18, 21-24; Matthew 19:4-6; Mark 10:5-8; Hebrews 13:4; 1 Corinthians 7:1- 8; Matthew 19:12; 1 Corinthians 12:12-13; Romans 12:10; 1 Timothy 5:1-2)

The Church

We believe that the church, the body of Christ, began on the day of Pentecost and is composed of all who receive Christ through faith. We believe God's program for the Church is distinguished from His program for Israel described in Daniel 9. We believe that all believers should assemble regularly in local churches for worship, for observing the ordinances of water baptism and the Lord's Supper, for mutual encouragement and discipline, and for carrying out God's purposes in this world.

(Acts 2:41-42; 10:44-47; 11:15-17; Romans 6:4-5; 12:3-8; 16:1, 5; 1 Corinthians 11:23-31; 12:12-13, 27; 16:19; Galatians 3:27-28; 6:2; Ephesians 1:22-23; 2:16-22; 5:24-25, 30; Philippians 1:1; Colossians 1:18; 1 Thessalonians 1:1; 5:11; Hebrews 10:24-25)

The Future

We believe that the personal and imminent return of Christ to rapture His church will be followed by a period of tribulation on this earth. At the conclusion of this period, Christ will return triumphantly and inaugurate His millennial reign over this earth. We believe in the everlasting conscious blessedness of the saved in the New Jerusalem and the everlasting conscious punishment of the unsaved in the lake of fire.

(Matthew 24:21, 29-30; 25:31, 46; 1 Thessalonians 1:10; 4:13-18; 5:4-10; Titus 2:13; Revelation 3:10; 20:1-6,11-15)

Satan

We believe that at some time in the past Satan led a rebellion, including a host of angels, against God and was expelled from the heavenly kingdom. Satan, also called other names including the Devil, is a real being who has tremendous, but limited power, and is the true adversary to God's people. Satan is destined to be judged and will endure eternal punishment in the lake of fire.

(Ephesians 6:12; 1 John 3:8; Revelation 20: 1-3)

Transparency grade

A

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Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating15 of 9401 of 112
Fund acquisition rating8 of 9423 of 112
Resource allocation rating155 of 9426 of 112
Asset utilization rating51 of 9403 of 112

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
15%6%5%5%8%11%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%4%3%5%6%10%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%60%69%89%85%85%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%4%3%5%6%9%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%40%31%11%15%15%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%92%92%89%87%82%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%98%99%96%104%103%
Program output ratio Program output ratio =
Program services /
Total revenue
81%90%92%86%91%84%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%2%1%4%-4%-3%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%14%7%27%-28%-21%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%4%4%6%6%9%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.504.026.904.796.365.49
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.741.191.421.632.371.63
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.644.779.827.8215.108.97
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.075.072.782.672.274.61
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.200.360.370.440.22
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.862.020.780.960.451.05
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
27%50%29%26%22%16%
Debt ratio Debt ratio =
Debt /
Total assets
16%33%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
140%12%10%15%12%15%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$344,506$596,007$514,448$232,061$416,368
Receivables, inventories, prepaids$1,024,661$92,438$51,717$35,232$46,252
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,369,167$688,445$566,165$267,293$462,620
Long-term investments$0$0$0$0$0
Fixed assets$119,712$157,117$214,178$258,777$244,959
Other long-term assets$137,227$134,215$143,778$108,470$48,667
Total long-term assets$256,939$291,332$357,956$367,247$293,626
Total assets$1,626,106$979,777$924,121$634,540$756,246
 
Liabilities20202019201820172016
Payables and accrued expenses$208,231$247,539$212,118$117,551$100,417
Other current liabilities$62,021$0$0$0$0
Total current liabilities$270,252$247,539$212,118$117,551$100,417
Debt$541,362$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$34,469$30,400$20,503$20,225
Total long-term liabilities$541,362$34,469$30,400$20,503$20,225
Total liabilities$811,614$282,008$242,518$138,054$120,642
 
Net assets20202019201820172016
Without donor restrictions$814,492$697,769$681,603$496,486$635,604
With donor restrictions$0$0$0$0$0
Net assets$814,492$697,769$681,603$496,486$635,604
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$3,973,335$4,700,384$4,087,871$3,323,783$3,418,096
Program service revenue$2,658,443$2,091,792$435,143$479,805$458,459
Membership dues$0$0$0$0$0
Investment income$0$94$0$888$0
Other revenue$18,055$16,458$90,812$91,341$137,329
Total other revenue$2,676,498$2,108,344$525,955$572,034$595,788
Total revenue$6,649,833$6,808,728$4,613,826$3,895,817$4,013,884
 
Expenses20202019201820172016
Program services$6,002,583$6,239,250$3,955,509$3,528,049$3,382,383
Management and general$283,369$297,242$259,282$253,691$382,719
Fundraising$247,158$225,041$213,918$253,195$383,794
Total expenses$6,533,110$6,761,533$4,428,709$4,034,935$4,148,896
 
Change in net assets20202019201820172016
Surplus (deficit)$116,723$47,195$185,117($139,118)($135,012)
Other changes in net assets$0$0$0$0$0
Total change in net assets$116,723$47,195$185,117($139,118)($135,012)

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 3/15/2021. To update the information below, please email: info@ministrywatch.com


History

American Christian higher education has deep religious roots. In the nation's early development, it was churches and denominations that led in establishing the first seminaries. Grace School of Theology, a direct product of that history, is founded on a free grace tradition based upon Biblical principles and the conviction that individuals have freedom of conscience before God and humankind. This freedom, absent from many traditions, affirms each person's ability to read and understand the Scripture without the mediation of other human beings. This emphasis ultimately led Grace School of Theology to challenge any teaching that does not recognize free grace as the only means to eternal salvation.

Grace School of Theology is, therefore, founded upon the belief that eternal salvation is received solely as a free gift from God by believing in Jesus Christ as the Son of God and the Savior for mankind. Grace is committed to Christian scholarly endeavors in the free grace tradition.

Grace School of Theology is a private, non-denominational, institution of higher learning governed by a dedicated Board of Trustees. The institution had its beginnings in early 2002 when a pastor and laypersons in the Houston area committed themselves to realize their vision of a local evangelical Christian institution emphasizing free grace. At the encouragement and advice of Dr. Charles Ryrie, Grace School of Theology began as Houston Theological Seminary as the result of the planning and visionary work of seven men who constituted the initial Board of Trustees:

Dr. Dave Anderson, Dr. Glenn Darby, Mr. Larry Allbritton, Mr. Mark Rae, Mr. Jeffe Ready, Mr. Bill Diamond, and Mr. Bob Winslow. Of the original seven Trustees, Dr. Dave Anderson now serves as the President of Grace and a member of the Board and Dr. Glenn Darby is Chairman of the current Board of Trustees.

Grace School of Theology is a work of God's grace. God placed the burden for this educational ministry upon the heart of Dr. Dave Anderson who, for twelve (12) years planted churches in southern Texas and then, for eighteen (18) years, served as Senior Pastor of Faith Bible Church of The Woodlands, Texas. The discussions between Drs. Anderson and Darby with the full Board of Trustees led to the beginning of Houston Theological Seminary. The first seminary classes were held in Faith Bible Church of The Woodlands, Texas, and Cypress Bible Church of Cypress, Texas.

Houston Theological Seminary received its certificate of incorporation from the State of Texas effective May 29, 2001. The first students began classes in the fall of 2002. After Texas enacted a state law prohibiting the use of the term "seminary" in an institution's title without state approval, the name Houston Theological Seminary was changed to Grace School of Theology in a Certificate of Amend-ment issued by the State of Texas in March 2003. The Texas Supreme Court overruled this unconstitutional law in the fall of 2007, but the seminary elected to retain its current name.

Grace is strategically located in the Houston, Texas, metropolitan area. The main administrative offices are located in The Woodlands, Texas, and include classrooms, faculty offices, and the main Library.

As Grace has begun to significantly grow, teaching sites have been developed in areas near Houston (Beaumont) and as far away as Midland and San Antonio where much support and encouragement from Christian leaders has developed. International initiatives have become priority directives by the institution's Board of Trustees. Many world-region opportunities have emerged, which are each evaluated by administrators and faculty. Current international teaching sites include Honduras, Mexico, Panama, and the Philippines.


Program accomplishments


Needs