Westminster Theological Seminary

The information on this page was last updated 1/12/2023. If you see errors or omissions, please email: [email protected]


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) 402-5268

Email: [email protected]


Organization details

EIN: 231352689

CEO/President: Peter Lillback

Chairman: John Weiser

Board size: 15

Founder: J. Gresham Machen

Ruling year: 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.

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Transparency grade

A

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Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating831 of 1021102 of 118
Fund acquisition rating651 of 102480 of 118
Resource allocation rating905 of 1024100 of 118
Asset utilization rating564 of 102162 of 118

Financial ratios

Funding ratiosSector median20212020201920182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
12%13%16%19%23%12%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%7%7%7%7%6%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
14%52%44%39%32%52%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%9%8%8%7%8%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
86%48%56%61%68%48%
 
Operating ratiosSector median20212020201920182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%70%74%74%75%70%
Spending ratio Spending ratio =
Total expenses /
Total revenue
95%78%92%90%106%78%
Program output ratio Program output ratio =
Program services /
Total revenue
79%55%68%67%80%55%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
5%22%8%10%-6%22%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%14%5%6%-3%13%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%21%18%17%18%22%
 
Investing ratiosSector median20212020201920182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.490.450.490.500.500.43
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.682.222.661.911.951.95
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.550.991.310.960.980.84
 
Liquidity ratiosSector median20212020201920182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
7.246.967.3113.7311.0619.86
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.140.140.140.070.090.05
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.2110.397.9111.5611.1313.54
 
Solvency ratiosSector median20212020201920182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
25%9%12%8%10%8%
Debt ratio Debt ratio =
Debt /
Total assets
15%1%4%2%2%3%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
142%204%179%184%180%213%

Financials

Balance sheet
 
Assets20212020201920182017
Cash$8,773,088$7,070,007$5,799,282$3,855,000$2,578,509
Receivables, inventories, prepaids$2,538,103$1,506,724$1,334,276$1,159,956$1,236,679
Short-term investments$11,275,537$6,804,706$12,363,184$12,933,972$13,968,789
Other current assets$0$0$0$0$0
Total current assets$22,586,728$15,381,437$19,496,742$17,948,928$17,783,977
Long-term investments$3,232,526$4,297,159$19,280$19,280$19,280
Fixed assets$12,340,358$11,079,293$7,131,613$6,422,989$6,187,965
Other long-term assets$11,932,235$10,165,315$10,647,985$10,641,260$10,753,250
Total long-term assets$27,505,119$25,541,767$17,798,878$17,083,529$16,960,495
Total assets$50,091,847$40,923,204$37,295,620$35,032,457$34,744,472
 
Liabilities20212020201920182017
Payables and accrued expenses$1,857,065$1,142,372$633,606$933,014$587,168
Other current liabilities$1,386,111$962,290$786,556$690,372$308,454
Total current liabilities$3,243,176$2,104,662$1,420,162$1,623,386$895,622
Debt$432,247$1,816,886$585,779$873,038$915,290
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$786,971$851,926$817,002$849,746$1,038,695
Total long-term liabilities$1,219,218$2,668,812$1,402,781$1,722,784$1,953,985
Total liabilities$4,462,394$4,773,474$2,822,943$3,346,170$2,849,607
 
Net assets20212020201920182017
Without donor restrictions$12,917,691$11,462,419$7,864,347$6,576,318$6,056,083
With donor restrictions$32,711,762$24,687,311$26,608,330$25,109,969$25,838,782
Net assets$45,629,453$36,149,730$34,472,677$31,686,287$31,894,865
 
Revenues and expenses
 
Revenue20212020201920182017
Total contributions$14,858,605$9,721,561$8,207,003$5,380,951$10,077,915
Program service revenue$12,934,149$11,881,850$12,107,967$10,743,267$8,707,201
Membership dues$0$0$0$0$0
Investment income$796,070$264,834$551,830$445,132$223,963
Other revenue$75,922$78,466$83,682$37,218$235,537
Total other revenue$13,806,141$12,225,150$12,743,479$11,225,617$9,166,701
Total revenue$28,664,746$21,946,711$20,950,482$16,606,568$19,244,616
 
Expenses20212020201920182017
Program services$15,723,916$14,962,273$13,946,510$13,233,690$10,531,709
Management and general$4,706,508$3,595,683$3,260,651$3,143,279$3,245,296
Fundraising$1,915,682$1,589,827$1,564,916$1,223,634$1,189,431
Total expenses$22,346,106$20,147,783$18,772,077$17,600,603$14,966,436
 
Change in net assets20212020201920182017
Surplus (deficit)$6,318,640$1,798,928$2,178,405($994,035)$4,278,180
Other changes in net assets$0$0$0$0$0
Total change in net assets$6,318,640$1,798,928$2,178,405($994,035)$4,278,180

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 1/12/2023. To update the information below, please email: [email protected]


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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