Crossway/ Good News Publishers 
The information on this page was last updated 12/6/2023. If you see errors or omissions, please email: [email protected]
Summary
Crossway is a not-for-profit ministry that exists solely for the purpose of proclaiming the gospel and the truth of God's Word through publishing and all other means.
Contact information
Mailing address:
Crossway
1300 Crescent St.
Wheaton, IL 60187
Website: www.crossway.org
Phone: 630-682-4300
Email: [email protected]
Organization details
EIN: 361143987
CEO/President: Josh Dennis
Chairman: Lane Dennis
Board size: 11
Founder: Clyde Dennis
Ruling year: 1942
Tax deductible: Yes
Fiscal year end: 05/31
Member of ECFA: No
Member of ECFA since:
Purpose
The purpose of Crossway has been, from its founding as a not-for-profit ministry in 1938, to publish gospel-centered, Bible-based content that will honor our Savior and serve his church. We seek to help people understand the massive implications of the gospel and the truth of God's Word, for all of life, for all eternity, and for the glory of God.
Mission statement
To proclaim the gospel and the truth of God's Word through publishing and all other means.
Statement of faith
The Bible, consisting of the 66 books of the Old and New Testaments, is the inspired Word of God, inerrant in the original documents, and the only final authority in all matters of faith and practice.
There is one God, the Creator of all things, infinitely holy and eternally existent in three persons-Father, Son, and Holy Spirit.
The Lord Jesus Christ is fully God and fully Man, conceived by the Holy Spirit, born of the virgin Mary, and sinlessly perfect. His sacrificial death on the cross is substitutionary and representative. He rose bodily from the dead and ascended to his Father's right hand, where he now ministers as our Great High Priest. He will come again to receive his own unto himself and to reign in power and glory for all eternity.
Every man, woman, and child is created by God in God's image, as either male or female. Therefore, each person, from conception to death-whether male or female (Genesis 1:27), of every race, ethnicity, age, and ability-has intrinsic dignity and value, and should not be subject to discrimination or exploitation. Each member of the human race is fallen, sinful and lost, and regeneration by the Holy Spirit is absolutely essential for salvation. Redemption is wholly by the blood of Christ, and salvation is by grace alone through faith alone in our Lord Jesus Christ.
The Holy Spirit indwells the believer, who is sealed until the day of redemption and empowered to live a godly life, through the ongoing sanctification of the Holy Spirit.
The church is composed of all true believers in the Lord Jesus Christ. All believers are united to him and one another by the indwelling Holy Spirit. Thus, the church is a living body, the Body of Christ.
There are two Christian ordinances, baptism and the Lord's Supper. Baptism signifies that the believer is buried with Christ and is risen with him to walk in newness of life. The Lord's Supper is instituted by the Lord himself exclusively for his own. In the observance of the Lord's Supper, believers remember him, they show his death until he comes, and they profess their union with Christ and ongoing faith in him as their only Savior.
Every true child of God possesses eternal life and-being justified, sanctified, and sealed with the Holy Spirit-is safe and secure for all eternity. However, a Christian can, through sin, lose his fellowship, joy, power, testimony, and reward; and can incur the Father's discipline. The believer's relationship with God is eternal, being established by new birth; daily fellowship, however, is dependent upon obedience.
There will be a bodily resurrection of the saved and of the lost-of the saved, unto eternal life, and of the lost, unto eternal and conscious judgment in hell.
When Christ returns at the end of the age, all true believers will see his face and be with him forever, reigning with him in splendor and great glory, through all eternity, in the new heavens and new earth.
Donor confidence score
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Christian Growth
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 637 of 1102 | 36 of 63 |
| Fund acquisition rating | | 561 of 1103 | 30 of 63 |
| Resource allocation rating | | 460 of 1103 | 23 of 63 |
| Asset utilization rating | | 767 of 1102 | 49 of 63 |
Financial ratios
| Funding ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 8% | 19% | 22% | 20% | 10% | 25% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 5% | 1% | 1% | 1% | 1% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 85% | 4% | 4% | 4% | 6% | 1% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 5% | 1% | 1% | 1% | 1% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 15% | 96% | 96% | 96% | 94% | 99% |
| Operating ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Program expense ratio Program expense ratio = Program services / Total expenses | 81% | 83% | 78% | 79% | 76% | 77% |
Spending ratio Spending ratio = Total expenses / Total revenue | 99% | 85% | 91% | 87% | 75% | 92% |
Program output ratio Program output ratio = Program services / Total revenue | 80% | 71% | 71% | 69% | 57% | 71% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 1% | 15% | 9% | 13% | 25% | 8% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | 14% | 7% | 12% | 23% | 7% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 16% | 21% | 20% | 23% | 23% |
| Investing ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.05 | 0.59 | 0.59 | 0.60 | 0.51 | 0.59 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.44 | 1.35 | 1.25 | 1.21 | 1.22 | 1.31 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.56 | 0.80 | 0.74 | 0.73 | 0.63 | 0.77 |
| Liquidity ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Current ratio Current ratio = Total current assets / Total current liabilities | 11.30 | 5.65 | 6.41 | 5.20 | 4.61 | 6.11 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.08 | 0.18 | 0.16 | 0.19 | 0.22 | 0.16 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.79 | 12.42 | 13.72 | 13.36 | 14.99 | 13.08 |
| Solvency ratios | Sector median | 2024 | 2023 | 2022 | 2021 | 2020 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 15% | 29% | 20% | 19% | 25% | 27% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 3% | 11% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 78% | 120% | 136% | 134% | 147% | 124% |
Financials
| Balance sheet | |||||
| Assets | 2024 | 2023 | 2022 | 2021 | 2020 |
| Cash | $13,417,090 | $10,305,064 | $8,913,679 | $12,134,747 | $6,692,975 |
| Receivables, inventories, prepaids | $33,389,567 | $28,074,883 | $27,594,434 | $22,135,279 | $18,861,972 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $46,806,657 | $38,379,947 | $36,508,113 | $34,270,026 | $25,554,947 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $7,760,800 | $6,942,592 | $7,003,089 | $6,743,862 | $7,051,891 |
| Other long-term assets | $8,448,322 | $2,662,201 | $630,035 | $758,035 | $759,026 |
| Total long-term assets | $16,209,122 | $9,604,793 | $7,633,124 | $7,501,897 | $7,810,917 |
| Total assets | $63,015,779 | $47,984,740 | $44,141,237 | $41,771,923 | $33,365,864 |
| Liabilities | 2024 | 2023 | 2022 | 2021 | 2020 |
| Payables and accrued expenses | $8,278,819 | $5,988,296 | $7,017,285 | $7,434,232 | $4,185,064 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $8,278,819 | $5,988,296 | $7,017,285 | $7,434,232 | $4,185,064 |
| Debt | $0 | $0 | $0 | $1,258,919 | $3,708,474 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $9,951,726 | $3,588,531 | $1,495,737 | $1,552,799 | $1,161,266 |
| Total long-term liabilities | $9,951,726 | $3,588,531 | $1,495,737 | $2,811,718 | $4,869,740 |
| Total liabilities | $18,230,545 | $9,576,827 | $8,513,022 | $10,245,950 | $9,054,804 |
| Net assets | 2024 | 2023 | 2022 | 2021 | 2020 |
| Without donor restrictions | $42,652,168 | $36,529,747 | $34,132,113 | $29,586,533 | $23,751,248 |
| With donor restrictions | $2,133,066 | $1,878,166 | $1,496,102 | $1,939,440 | $559,812 |
| Net assets | $44,785,234 | $38,407,913 | $35,628,215 | $31,525,973 | $24,311,060 |
| Revenues and expenses | |||||
| Revenue | 2024 | 2023 | 2022 | 2021 | 2020 |
| Total contributions | $1,953,304 | $1,200,722 | $1,215,251 | $1,839,556 | $218,449 |
| Program service revenue | $73,509 | $62,406 | $29,979 | $20,920 | $22,707 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $529,577 | $179,199 | ($77,853) | $4,226 | ($30,128) |
| Other revenue | $41,045,307 | $29,659,410 | $29,429,808 | $26,830,163 | $21,014,976 |
| Total other revenue | $41,648,393 | $29,901,015 | $29,381,934 | $26,855,309 | $21,007,555 |
| Total revenue | $43,601,697 | $31,101,737 | $30,597,185 | $28,694,865 | $21,226,004 |
| Expenses | 2024 | 2023 | 2022 | 2021 | 2020 |
| Program services | $30,846,955 | $22,021,767 | $21,057,151 | $16,412,366 | $15,000,579 |
| Management and general | $6,009,189 | $6,031,976 | $5,191,875 | $4,881,725 | $4,546,641 |
| Fundraising | $368,232 | $268,296 | $245,917 | $185,861 | $53,543 |
| Total expenses | $37,224,376 | $28,322,039 | $26,494,943 | $21,479,952 | $19,600,763 |
| Change in net assets | 2024 | 2023 | 2022 | 2021 | 2020 |
| Surplus (deficit) | $6,377,321 | $2,779,698 | $4,102,242 | $7,214,913 | $1,625,241 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $6,377,321 | $2,779,698 | $4,102,242 | $7,214,913 | $1,625,241 |
Compensation
| Name | Title | Compensation |
| Josh Dennis | President, CEO | $359,498 |
| Donald Jones | Chief Publishing Officer | $273,671 |
| Andrew Tebbe | Chief Communications Officer | $273,561 |
| Anthony Gosling | Chief Operating Officer | $268,709 |
| Justin Taylor | Exec. VP Book Publishing | $263,329 |
| Dan Kok | Sr. VP Operations & Asst. Secretary | $261,216 |
| Daniel Bush | Exec. VP Sales & Marketing | $260,387 |
| Paul Thomas | Sr. VP Finance & Asst. Treasurer | $248,516 |
| Randall D Jahns | Sr. VP Global Ministry | $246,805 |
| Douglas O'Donnell | Sr. VP Bible Publishing | $237,581 |
| Mark Hendrie | VP of Information Technology | $196,796 |
| Daniel Farrell | Sr VP of Creative | $193,417 |
| Robert Ratleph | VP of Software Development | $191,805 |
| Matt Tully | Sr VP of Marketing and Communications | $189,296 |
| Kenneth Winkelmann | VP of Operations | $185,106 |
| Lane T Dennis | Chairman, Executive Advisor | $182,457 |
| M Ebeth Dennis | Secretary, Associate Consultant | $41,500 |
| R Kent Hughes | Board Member | $2,958 |
| Dane Ortland | Board Member | $2,220 |
| Wayne Grudem | Board Member | $720 |
| Eric Channing | Board Member | $250 |
Compensation data as of: 5/31/2024
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 12/6/2023. To update the information below, please email: [email protected]
History
In 1938 America was still struggling from the Great Depression and the winds of war were stirring in Europe. It didn't seem like a favorable time to start a new publishing ministry.
Clyde Dennis, a young Christian printer, had a passion to proclaim the gospel and the faith to take a step. That initial ambition has grown into a multi-faceted publishing ministry that, by God's grace, continues to impact millions around the world.
In 1938 Clyde and Muriel began Good News Publishers working out of their spare bedroom in Minneapolis, MN.
Clyde had often participated in street meetings, speaking and passing out tracts. But most Christian literature at that time was poorly printed, poorly designed-and often poorly received. Because the gospel is God's greatest message, Clyde reasoned, the good news should be published in a manner worthy of the message, with beauty and creativity as well as fidelity to God's Word. Clyde promised God that he would dedicate his life to this end if God gave him the opportunity.
That opportunity came to Clyde and his new bride, Muriel, in 1938. Trusting God's leading, they set aside part of their income for a new ministry. With his savings of $20, Clyde bought 200 pounds of paper to write and design the first few tracts. He then persuaded the printing company where he worked to let him use their presses after hours. He began by printing 40,000 tracts, sending samples to a list of 600 Christian workers.
The response was immediate and remarkable. Within a few days, orders and letters of encouragement came flowing in. Within six months, the tract ministry had grown to the point that Clyde and Muriel's back bedroom could no longer serve as office, shipping room, and warehouse. Believing God had brought them this far, Clyde quit his full-time job and dedicated his time to writing, designing, and publishing tracts and other Christian literature. Muriel became assistant and shipping clerk, folding thousands of tracts by hand.
The ministry of Good News Publishers grew. Within the first five years, Good News was distributing more than 50 million tracts each year.
Although the 1950s presented serious health challenges for Clyde and Muriel, the ministry continued to expand in God's kindness. After Clyde's homegoing in 1962, Muriel stepped in as president and remained active in the ministry until her own death in 1993. Paul Benson-who had been with the publishing company from the beginning-accepted responsibility as vice president and general manager. Under their leadership, the passion for proclaiming the gospel stayed at the center of the ministry.
In 1979, another major step of faith was taken to expand the ministry of Good News by starting a book publishing division-Crossway Books.
Under the leadership of Dr. Lane Dennis, Clyde and Muriel's son, Crossway has become one of today's leading publishers of evangelical Christian books focused on proclaiming the gospel and applying God's Word to every area of life.
Since the inception of the book division in 1979, Crossway has been privileged to publish more than 1,500 different titles, including books by Francis A. Schaeffer, Martyn Lloyd-Jones, John Piper, John MacArthur, J. I. Packer, Chuck Colson, Frank Peretti, Max Lucado, Joni Eareckson Tada, and D. A. Carson.
A significant new step of faith for Crossway was the publication of The Holy Bible, English Standard Version in the fall of 2001.
The vision for the ESV Bible began in the early 1990s as many evangelical Christian leaders saw a need for a new "word-for-word" Bible translation-one that would be characterized by precision and literary excellence, in the classic stream of the Tyndale New Testament and the King James Version Bible.
The ESV was created by a sixty-member team of the finest evangelical Bible scholars from around the world, with additional review and input provided by the sixty-member ESV Advisory Council. A twelve-member Translation Oversight Committee, with Dr. J. I. Packer as the General Editor, carried out the overall work of revision, review, and final approval.
In the years since its initial publication, the ESV has become the translation choice for many churches, denominations, ministries, and families around the world. It is one of the fastest growing English translations and continues to be published in new editions both in the United States and internationally.
The fall of 2008 marked the next significant step in the development of the ESV with the publication of the ESV Study Bible. Created by a team of ninety-five evangelical Bible scholars and teachers, the Study Bible includes twenty thousand notes and two million words in over 2,700 pages. It became a bestselling Bible and was the first Bible to be named the "Christian Book of the Year" by the ECPA.
Crossway has been at the forefront of digital media and technology in Christian publishing. When the ESV Bible was launched in 2001, it was the first Bible published simultaneously in both print and digital formats, and is widely recognized today for its ongoing mobile app development and availability worldwide via ESV.org.
Our goal for the ESV Bible is to provide it free through digital media everywhere and at any time throughout the world-free online and via every major tablet and smartphone device.
As we look to the future, our aim at Crossway is to remain faithful to the "gospel-centered" vision that the Lord has entrusted to us-via the printed page but equally by means of every new digital medium.
Additionally, opportunities for international partnerships continue to grow. Through partnerships with Bible Societies and ministry partners like The Gideons and Awana, new ESV Bible versions are being developed and distributed to tens of millions worldwide.
Crossway's goal is to continue seeking the glory of God in everything we do-to proclaim his truth in power; to reflect his glory in content and design; and to express something of his holiness and grace to a fallen world.