Third Millennium Ministries / Thirdmill

The information on this page was last updated 1/3/2024. If you see errors or omissions, please email: [email protected]


Summary

Most pastors in the world have no theological education and no way to obtain one. Thirdmill is working to meet this global need by creating and distributing a high-quality, multimedia seminary curriculum in the major languages of the world.


Contact information

Mailing address:
Thirdmill
316 Live Oaks Boulevard
Casselberry, FL 32707

Website: thirdmill.org

Phone: 407-830-0222

Email: [email protected]


Organization details

EIN: 311598585

CEO/President: Dr. Richard L. Pratt, Jr.

Chairman: Steven Stallard

Board size: 9

Founder: Janie P. Pillow

Ruling year: 1998

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 2005


Purpose

In many areas around the globe, biblical resources are either scarce or simply unavailable to Christians who desire a seminary education. Without sound theology, pastors can easily be influenced by deceptive philosophies or other religions, and their idea of Christianity can be corrupted. As a result, pastors unknowingly lead their congregations astray. According to Third Mill's President, Dr. Richard Pratt, "Although pastors may love the Lord and mean well, they lack the basic training to discern the truths of their new faith from the lies of their former paganism. It's precisely where the Church is growing most rapidly that the resources available for training are least sufficient."

At Third Mill, we believe God's servants who desire to learn shouldn't be hindered by circumstances. By designing, creating, and distributing a free, multimedia seminary curriculum in multiple languages, we're able to equip church leaders in their own lands and languages at no cost to them.


Mission statement

We believe all who desire to learn about the Bible and Christian theology should not be hindered by their circumstances. We are responding directly to the scarcity of sound Christian education through our mission-Biblical Education. For the World. For Free..


Statement of faith

We believe that Scripture consists of the 39 books of the Old Testament and the 27 books of the New Testament as originally inspired and given by the Holy Spirit. We believe that Scripture is infallible, inerrant, and to be received, read, believed and obeyed as the written Word of God.

We believe Scripture reveals only one living and true God, who exists in the three persons of the Godhead: the Father, the Son and the Holy Spirit. These three are one God, the same in substance, equal in power and glory.

We believe in the full deity and full humanity of Jesus Christ, in his virgin birth, his sinless life, his miracles, his substitutionary and atoning death, his bodily resurrection, his ascension to the right hand of God the Father, his present rule over and intercession for the Church, and his visible return in power and glory.

We believe in the present ministry of the Holy Spirit, whose work of regeneration is essential for salvation. By the Spirit's sanctifying power, which indwells all believers in Christ, we are enabled to live godly lives of worship and service.

We believe in the bodily resurrection of every person for the final day of judgment before the Lord Jesus Christ - the lost unto eternal punishment and the saved unto eternal life.

Doctrinal Standards

A more complete statement of our doctrinal standards can be found in the Westminster Confession of Faith together with its Larger and Shorter Catechisms.

Donor confidence score

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Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Educational Media

CategoryRatingOverall rankSector rank
Overall efficiency rating531 of 110421 of 47
Fund acquisition rating553 of 110524 of 47
Resource allocation rating476 of 110524 of 47
Asset utilization rating593 of 110421 of 47

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%8%7%8%14%28%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
7%7%6%7%13%26%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
93%92%93%95%95%94%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%8%8%10%13%20%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
7%8%7%5%5%6%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%82%82%82%78%73%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%92%76%71%101%134%
Program output ratio Program output ratio =
Program services /
Total revenue
74%75%63%58%79%98%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%8%24%29%-1%-34%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
8%7%22%27%-1%-26%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%10%10%8%9%8%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.730.710.680.600.890.95
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.481.041.021.021.031.05
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.400.740.690.610.921.00
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
13.4785.0681.4395.19136.9045.95
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.010.010.010.010.02
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
7.4916.0617.1519.5812.9811.73
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
8%7%6%11%16%5%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
120%132%139%149%95%100%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$2,897,963$2,837,735$1,726,860$1,185,486$508,150
Receivables, inventories, prepaids$122,663$71,572$65,857$37,086$74,457
Short-term investments$5,780,360$5,215,288$5,741,657$3,604,090$4,122,614
Other current assets$0$0$0$0$0
Total current assets$8,800,986$8,124,595$7,534,374$4,826,662$4,705,221
Long-term investments$0$0$0$0$0
Fixed assets$95,247$123,905$127,534$164,549$227,598
Other long-term assets$284,962$0$0$0$0
Total long-term assets$380,209$123,905$127,534$164,549$227,598
Total assets$9,181,195$8,248,500$7,661,908$4,991,211$4,932,819
 
Liabilities20232022202120202019
Payables and accrued expenses$103,473$99,779$79,152$35,256$102,405
Other current liabilities$0$0$0$0$0
Total current liabilities$103,473$99,779$79,152$35,256$102,405
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$507,464$354,172$755,591$759,333$126,961
Total long-term liabilities$507,464$354,172$755,591$759,333$126,961
Total liabilities$610,937$453,951$834,743$794,589$229,366
 
Net assets20232022202120202019
Without donor restrictions$6,691,688$5,915,979$4,590,213$1,532,797$1,982,332
With donor restrictions$1,878,570$1,878,570$2,236,952$2,663,825$2,721,121
Net assets$8,570,258$7,794,549$6,827,165$4,196,622$4,703,453
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$6,484,964$6,857,889$6,119,098$4,129,488$3,286,849
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$233,039$285,010$217,762$194,465$212,892
Other revenue$356,247$206,192$98,702$43,814$1,694
Total other revenue$589,286$491,202$316,464$238,279$214,586
Total revenue$7,074,250$7,349,091$6,435,562$4,367,767$3,501,435
 
Expenses20232022202120202019
Program services$5,325,523$4,619,246$3,730,418$3,443,987$3,421,515
Management and general$678,867$544,591$366,641$405,376$365,116
Fundraising$495,344$451,880$471,274$579,782$922,154
Total expenses$6,499,734$5,615,717$4,568,333$4,429,145$4,708,785
 
Change in net assets20232022202120202019
Surplus (deficit)$574,516$1,733,374$1,867,229($61,378)($1,207,350)
Other changes in net assets$0$0$0$0$0
Total change in net assets$574,516$1,733,374$1,867,229($61,378)($1,207,350)

Compensation

NameTitleCompensation
Eric LinaresExecutive Director$124,883
James David PillowVP of Global Distribution$109,919
Richard L Pratt JrPresident/Board Vice-Chair$71,021

Compensation data as of: 6/30/2023


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 1/3/2024. To update the information below, please email: [email protected]


History


Program accomplishments

Our goal has been to produce and distribute seminary-level curriculum commensurate with the needs of pastors and Christian leaders worldwide. In 2012, we completed the English curriculum necessary to award a one-year certificate in Christian Ministry. In 2017, we completed the curriculum necessary for a two-year degree in English. We are now focusing on our distribution efforts and completing the two-year curriculum in additional languages.

Christians on every continent have asked for our lessons, and, we are working hard to meet their needs. Millions of lesson hours have been distributed worldwide by request, and our distribution networks significantly increase every year.


Needs