Reformed Theological Seminary

The information on this page was last updated 3/22/2023. If you see errors or omissions, please email: [email protected]


Summary

Reformed Theological Seminary exists to glorify the Triune God and to serve His Church in all branches of evangelical Christianity, especially Presbyterian and Reformed churches, by providing Reformed graduate theological education that is globally accessible. RTS equips its students for ministry, primarily through pastoral preparation, to be servant leaders marked by "A Mind for Truth, A Heart for God."


Contact information

Mailing address:
Reformed Theological Seminary
5422 Clinton Blvd.
Jackson, MS 39209-3050

Website: rts.edu

Phone: 601-923-1600

Email: [email protected]


Organization details

EIN: 640428676

CEO/President: J Ligon Duncan III

Chairman: Richard L. Ridgeway

Board size: 20

Founder:

Ruling year: 1964

Tax deductible: Yes

Fiscal year end: 05/31

Member of ECFA: Yes

Member of ECFA since: 1981


Purpose

The purpose of RTS is to serve the church in all branches of evangelical Christianity, especially the Presbyterian and Reformed family, by preparing its leaders, with a priority on pastors, and including missionaries, educators, counselors, and others through a program of theological education on the graduate level, based upon the authority of the inerrant Word of God, the sixty-six books of the Bible, and committed to the Reformed faith as set forth in the Westminster Confession of Faith and the Larger and Shorter Catechisms as accepted by the Presbyterian Church in the United States of America as its standard of doctrine at its first General Assembly in 1789.

This program shall be characterized by biblical fidelity, confessional integrity, and academic excellence, and committed to the promotion of the spiritual growth of the students. The breadth of this ministry will include multiple campuses and extensions as led by the Lord.


Mission statement

The mission of Reformed Theological Seminary is to serve the Church by preparing its leaders, through a program of graduate theological education, based upon the authority of the inerrant Word of God, and committed to the Reformed Faith.


Statement of faith

To ensure that the original purpose and doctrinal distinctives of the seminary are maintained, each trustee, senior administrator, and voting faculty member, with solemn awareness of accountability to God in all that he feels, thinks, says, and does, engages in and subscribes to the following Statement of Belief and Covenant:

There is but one only, the living and true God; and there are three persons in the Godhead, the Father, the Son, and the Holy Spirit; and these three are one God, the same in substance, equal in power and glory.

Scripture is the inspired, inerrant Word of God, the final authority, and only infallible rule of faith and practice. As the Word of God written, all Scripture is self-attesting and is verbally inspired by Almighty God, and therefore without error as originally given.

Reformed theology as set forth in the Westminster Confession of Faith and the Larger and Shorter Catechisms as adopted by the Presbyterian Church in the United States of America as its subordinate standard of doctrine at its first General Assembly in 1789 is founded upon the Word of God, and therefore is to be learned, taught, and proclaimed for the edification of God's people, the government of the Church, the propagation of the faith, and the evangelization of the world by the power of the Gospel of our Lord Jesus Christ.

I sincerely own and believe the statements above, and I will firmly and constantly adhere unto them, and to the utmost of my power I will assert, maintain, and defend the same.

NOW THEREFORE, the undersigned, in the presence of God, states and signifies that he consents, agrees, and binds himself to all of the foregoing without any reservation whatsoever, and that he further obligates himself immediately to notify in writing the Provost should a change of any kind take place in his belief and feeling not in accord with this statement. Amen.

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Transparency grade

A

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Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating1085 of 1112129 of 130
Fund acquisition rating1064 of 1113124 of 130
Resource allocation rating1035 of 1113118 of 130
Asset utilization rating822 of 1112111 of 130

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%23%27%14%19%22%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%8%8%5%6%7%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
20%36%31%37%31%29%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%9%9%6%7%7%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
80%64%69%63%69%71%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%69%66%76%75%75%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%94%91%83%86%100%
Program output ratio Program output ratio =
Program services /
Total revenue
79%65%60%63%65%75%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%6%9%17%14%0%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%1%2%4%4%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%23%25%18%18%18%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.240.210.190.220.22
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.702.332.052.162.222.52
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.450.560.430.410.490.56
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.0815.2520.1720.4823.9119.69
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.120.070.050.050.040.05
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
7.2219.9226.3328.0023.3120.43
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
25%4%3%3%4%3%
Debt ratio Debt ratio =
Debt /
Total assets
11%0%0%0%2%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
148%399%458%515%431%439%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$532,246$11,128,471$1,910,730$2,884,987$1,568,752
Receivables, inventories, prepaids$5,455,832$3,350,283$2,069,736$1,358,936$737,704
Short-term investments$46,357,796$46,388,722$54,351,466$42,515,507$38,366,240
Other current assets$0$0$0$0$0
Total current assets$52,345,874$60,867,476$58,331,932$46,759,430$40,672,696
Long-term investments$33,397,349$41,489,005$44,574,304$33,005,785$38,606,505
Fixed assets$32,481,092$18,207,094$18,222,845$19,658,047$20,367,673
Other long-term assets$3,936,554$4,212,968$4,998,699$4,487,584$2,816,356
Total long-term assets$69,814,995$63,909,067$67,795,848$57,151,416$61,790,534
Total assets$122,160,869$124,776,543$126,127,780$103,910,846$102,463,230
 
Liabilities20232022202120202019
Payables and accrued expenses$1,996,882$1,629,565$1,555,103$945,175$1,114,880
Other current liabilities$1,435,872$1,388,902$1,292,783$1,010,456$950,954
Total current liabilities$3,432,754$3,018,467$2,847,886$1,955,631$2,065,834
Debt$0$0$0$1,774,600$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$1,220,938$1,097,167$812,215$852,239$895,543
Total long-term liabilities$1,220,938$1,097,167$812,215$2,626,839$895,543
Total liabilities$4,653,692$4,115,634$3,660,101$4,582,470$2,961,377
 
Net assets20232022202120202019
Without donor restrictions$62,464,149$64,471,393$66,636,399$45,617,815$47,607,522
With donor restrictions$55,043,028$56,189,516$55,831,280$53,710,561$51,894,331
Net assets$117,507,177$120,660,909$122,467,679$99,328,376$99,501,853
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$11,236,072$8,889,897$10,680,692$8,386,434$6,656,122
Program service revenue$13,767,199$13,630,060$13,111,573$11,154,176$11,504,087
Membership dues$0$0$0$0$0
Investment income$4,065,326$6,354,812$4,733,592$6,770,039$4,221,054
Other revenue$2,128,658$180,129$283,838$451,393$288,175
Total other revenue$19,961,183$20,165,001$18,129,003$18,375,608$16,013,316
Total revenue$31,197,255$29,054,898$28,809,695$26,762,042$22,669,438
 
Expenses20232022202120202019
Program services$20,269,203$17,311,330$18,015,003$17,329,842$17,095,473
Management and general$6,665,310$6,646,404$4,321,745$4,154,397$4,104,228
Fundraising$2,536,695$2,402,267$1,445,626$1,577,538$1,480,863
Total expenses$29,471,208$26,360,001$23,782,374$23,061,777$22,680,564
 
Change in net assets20232022202120202019
Surplus (deficit)$1,726,047$2,694,897$5,027,321$3,700,265($11,126)
Other changes in net assets$0$0$0$0$0
Total change in net assets$1,726,047$2,694,897$5,027,321$3,700,265($11,126)

Compensation

NameTitleCompensation
J Ligon Duncan IIIChancellor/CEO$354,974
James HarveyExecutive Director - Nyc$252,701
J Scott Redd JrPresident - Washington Dc$202,311
Michael KrugerPresident - Charlotte$199,326
Robert J CaraProvost/CAO$192,401
Douglas BakerChancellor's Chief of Staff$189,389
Scott SwainPresident - Orlando$187,544
Mark McDowellExecutive Director - Dallas$172,186
Guy RichardPresident of Atlanta Campus$162,554
David JohnExecutive Director of Global$141,138
Matthew BryantChief Development Officer$131,373
David VeldkampChief Enrollment Officer$122,486
Michael CopeningChief IT Officer$93,803
Phillip HolmesChief Communications Officer$30,567
Jessica ShortChief Financial Officer$25,195

Compensation data as of: 5/31/2023


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 3/22/2023. To update the information below, please email: [email protected]


History

In June 1963, five ministers met in a Memphis hotel room to pray about the need to establish a new seminary. At that time there was no seminary in the southeastern United States holding to Reformed theology and committed to the Bible as God's inerrant Word, the final authority for faith and life. When the meeting ended, the seed that would become Reformed Theological Seminary had been planted.

Through the Lord's provision, the original Jackson campus property was acquired. The property consisted of 14 acres on which was located a two-story white colonial home used for offices and classrooms in those early years. In the fall of 1966, RTS opened its doors for resident studies in Jackson, Mississippi. Seventeen students enrolled. On September 6, Dr. C. Darby Fulton, former Executive Secretary of the Board of World Missions of the Presbyterian Church in the United States, delivered the first convocation address entitled "The Relevancy of the Gospel." Since that time RTS has grown to nine degree-granting campuses: Jackson, MS; Orlando, FL; Charlotte, NC; Washington DC; Atlanta, GA; Houston, TX; Dallas, TX; Sao Paulo, Brazil; and Global Education (U.S. and International). RTS has one partial degree campus in New York, NY.


Program accomplishments

6200 graduates serving worldwide in 65 countries

60 denominations currently represented by students worldwide

93% placement for graduates within six months of graduation

78% students with some form of financial aid


Needs