Third Millennium Ministries / Thirdmill

The information on this page was last updated 10/27/2022. 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: 8

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

Our goal is to make seminary-level education available to Evangelical Christians in their own lands, in their own languages, for free.


Mission statement

Biblical Education. For the World. For Free.


Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Educational Media

CategoryRatingOverall rankSector rank
Overall efficiency rating813 of 102537 of 53
Fund acquisition rating852 of 102746 of 53
Resource allocation rating579 of 102731 of 53
Asset utilization rating609 of 102523 of 53

Financial ratios

Funding ratiosSector median202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%14%28%16%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
7%13%26%15%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
94%95%94%97%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
7%13%20%18%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
6%5%6%3%
 
Operating ratiosSector median202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
80%78%73%75%
Spending ratio Spending ratio =
Total expenses /
Total revenue
95%101%134%84%
Program output ratio Program output ratio =
Program services /
Total revenue
74%79%98%63%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
5%-1%-34%16%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
10%-1%-26%14%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%9%8%6%
 
Investing ratiosSector median202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.790.890.950.70
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.351.031.051.04
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.740.921.000.73
 
Liquidity ratiosSector median202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
10.59136.9045.95130.78
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.090.010.020.01
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.9312.9811.7316.41
 
Solvency ratiosSector median202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
12%16%5%3%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
92%95%100%140%

Financials

Balance sheet
 
Assets202020192018
Cash$1,185,486$508,150$762,491
Receivables, inventories, prepaids$37,086$74,457$48,125
Short-term investments$3,604,090$4,122,614$4,960,653
Other current assets$0$0$0
Total current assets$4,826,662$4,705,221$5,771,269
Long-term investments$0$0$0
Fixed assets$164,549$227,598$232,721
Other long-term assets$0$0$0
Total long-term assets$164,549$227,598$232,721
Total assets$4,991,211$4,932,819$6,003,990
 
Liabilities202020192018
Payables and accrued expenses$35,256$102,405$44,129
Other current liabilities$0$0$0
Total current liabilities$35,256$102,405$44,129
Debt$0$0$0
Due to (from) affiliates$0$0$0
Other long-term liabilities$759,333$126,961$112,026
Total long-term liabilities$759,333$126,961$112,026
Total liabilities$794,589$229,366$156,155
 
Net assets202020192018
Without donor restrictions$1,532,797$1,982,332$3,188,224
With donor restrictions$2,663,825$2,721,121$2,659,611
Net assets$4,196,622$4,703,453$5,847,835
 
Revenues and expenses
 
Revenue202020192018
Total contributions$4,129,488$3,286,849$4,841,947
Program service revenue$0$0$0
Membership dues$0$0$0
Investment income$194,465$212,892$161,496
Other revenue$43,814$1,694$2,086
Total other revenue$238,279$214,586$163,582
Total revenue$4,367,767$3,501,435$5,005,529
 
Expenses202020192018
Program services$3,443,987$3,421,515$3,157,296
Management and general$405,376$365,116$262,914
Fundraising$579,782$922,154$767,819
Total expenses$4,429,145$4,708,785$4,188,029
 
Change in net assets202020192018
Surplus (deficit)($61,378)($1,207,350)$817,500
Other changes in net assets$0$0$0
Total change in net assets($61,378)($1,207,350)$817,500

Compensation

NameTitleCompensation
James David PillowVP of Global Distribution$107,450
Richard L Pratt JrPresident$72,479

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 10/27/2022. To update the information below, please email: [email protected]


History


Program accomplishments

Our curriculum is currently used by a wide variety of seminaries, Bible colleges, churches, mission organizations and institutions in: North, Central and South America; Europe; Asia; Africa; the Middle East; and Australia.


Needs