Fuller Theological Seminary 
The information on this page was last updated 9/17/2024. If you see errors or omissions, please email: [email protected]
Summary
Fuller Seminary is an evangelical, multidenominational graduate institution committed to providing indispensable, formational education for diverse Christian leaders everywhere.
Contact information
Mailing address:
Fuller Theological Seminary
135 N. Oakland Ave
Pasadena, CA 91182
Website: fuller.edu
Phone: 626-584-5200
Email: [email protected]
Organization details
EIN: 951699394
CEO/President: David Emmanuel Goatley
Chairman: Daniel Dominick Meyer
Board size: 29
Founder: Charles Fuller and Harold John Ockenga
Ruling year: 1952
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Providing indispensable formational education for diverse Christian leaders everywhere
Mission statement
Fuller Theological Seminary, embracing the School of Theology, School of Psychology and Marriage and Family Therapy, and School of Intercultural Studies, is an evangelical, multidenominational, international, and multiethnic community dedicated to the equipping of men and women for the manifold ministries of Christ and his church. Under the authority of Scripture we seek to fulfill our commitment to ministry through graduate education, professional development, and spiritual formation. In all of our activities, including instruction, nurture, worship, service, research, and publication, Fuller Theological Seminary strives for excellence in the service of Jesus Christ, under the guidance and power of the Holy Spirit, to the glory of the Father.
Statement of faith
Under God, and subject to biblical authority, the faculty, managers/administrators, and trustees of Fuller Theological Seminary bear concerted witness to the following articles, to which they subscribe, which they hold to be essential to their ministry, and which are the foundation upon which the seminary is based.
I. God has revealed himself to be the living and true God, perfect in love and righteous in all his ways, one in essence, existing eternally in the three persons of the Trinity: Father, Son, and Holy Spirit.
II. God, who discloses himself to humankind through his creation, has savingly spoken in the words and events of redemptive history. This history is fulfilled in Jesus Christ, the incarnate Word, who is made known to us by the Holy Spirit in sacred Scripture.
III. Scripture is an essential part and trustworthy record of this divine self-disclosure. All the books of the Old and New Testaments, given by divine inspiration, are the written word of God, the only infallible rule of faith and practice. They are to be interpreted according to their context and purpose and in reverent obedience to the Lord who speaks through them in living power.
IV. God, by his word and for his glory, freely created the world out of nothing. He made man and woman in his own image, as the crown of creation, that they might have fellowship with him. Tempted by Satan, they rebelled against God. Being estranged from their Maker, yet responsible to him, they became subject to divine wrath, inwardly depraved and, apart from grace, incapable of returning to God.
V. The only mediator between God and humankind is Christ Jesus our Lord, God's eternal son, who, being conceived by the Holy Spirit and born of the Virgin Mary, fully shared and fulfilled our humanity in a life of perfect obedience. By his death in our stead, he revealed the divine love and upheld divine justice, removing our guilt and reconciling us to God. Having redeemed us from sin, the third day he rose bodily from the grave, victorious over death and the powers of darkness. He ascended into heaven where, at God's right hand, he intercedes for his people and rules as Lord over all.
VI. The Holy Spirit, through the proclamation of the gospel, renews our hearts, persuading us to repent of our sins and confess Jesus as Lord. By the same Spirit we are led to trust in divine mercy, whereby we are forgiven all our sins, justified by faith alone through the merit of Christ our Savior, and granted the free gift of eternal life.
VII. God graciously adopts us into his family and enables us to call him Father. As we are led by the Spirit, we grow in the knowledge of the Lord, freely keeping his commandments and endeavoring so to live in the world that all may see our good works and glorify our Father who is in heaven.
VIII. God, by his Word and Spirit creates the one holy catholic and apostolic Church, calling sinners out of the whole human race into the fellowship of Christ's Body. By the same Word and Spirit, he guides and preserves for eternity that new, redeemed humanity, which, being formed in every culture, is spiritually one with the people of God in all ages.
IX. The Church is summoned by Christ to offer acceptable worship to God and to serve him by preaching the gospel and making disciples of all nations, by tending the flock through the ministry of the word and sacraments and through daily pastoral care, by striving for social justice, and by relieving human distress and need.
X. God's redemptive purpose will be consummated by the return of Christ to raise the dead, to judge all people according to the deeds done in the Body, and to establish his glorious kingdom. The wicked shall be separated from God's presence, but the righteous, in glorious bodies, shall live and reign with him forever. Then shall the eager expectation of the creation be fulfilled and the whole earth shall proclaim the glory of God who makes all things new.
Donor confidence score
Transparency grade
D
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Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 746 of 1118 | 99 of 130 |
| Fund acquisition rating | | 338 of 1119 | 38 of 130 |
| Resource allocation rating | | 860 of 1119 | 99 of 130 |
| Asset utilization rating | | 782 of 1118 | 106 of 130 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 10% | 8% | 10% | 17% | 16% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 4% | 4% | 3% | 6% | 5% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 18% | 43% | 51% | 30% | 32% | 30% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 4% | 5% | 4% | 4% | 4% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 82% | 57% | 49% | 70% | 68% | 70% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 78% | 77% | 73% | 71% | 73% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 110% | 84% | 75% | 129% | 126% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 86% | 65% | 55% | 92% | 92% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | -10% | 16% | 25% | -29% | -26% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | -2% | 4% | 7% | -7% | -7% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 18% | 18% | 23% | 24% | 23% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.22 | 0.20 | 0.18 | 0.25 | 0.25 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.61 | 1.87 | 1.90 | 1.99 | 2.28 | 2.43 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.41 | 0.40 | 0.38 | 0.37 | 0.56 | 0.61 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.92 | 6.48 | 8.84 | 12.16 | 10.43 | 10.62 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.13 | 0.15 | 0.11 | 0.08 | 0.10 | 0.09 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.43 | 25.17 | 28.08 | 30.14 | 19.41 | 17.79 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 18% | 16% | 15% | 23% | 20% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 9% | 10% | 10% | 16% | 15% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 380% | 419% | 462% | 316% | 317% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $48,672,878 | $43,060,909 | $33,710,313 | $17,891,299 | $14,081,055 |
| Receivables, inventories, prepaids | $11,430,597 | $15,281,601 | $7,291,062 | $7,161,879 | $10,859,662 |
| Short-term investments | $98,918,905 | $92,348,196 | $112,244,723 | $87,679,856 | $84,285,757 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $159,022,380 | $150,690,706 | $153,246,098 | $112,733,034 | $109,226,474 |
| Long-term investments | $7,750,157 | $7,958,360 | $11,958,189 | $10,865,237 | $14,180,267 |
| Fixed assets | $79,056,662 | $80,187,613 | $81,704,250 | $87,081,778 | $89,020,978 |
| Other long-term assets | $51,868,860 | $47,149,567 | $57,893,576 | $46,400,584 | $52,634,914 |
| Total long-term assets | $138,675,679 | $135,295,540 | $151,556,015 | $144,347,599 | $155,836,159 |
| Total assets | $297,698,059 | $285,986,246 | $304,802,113 | $257,080,633 | $265,062,633 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $5,201,915 | $5,459,735 | $5,351,591 | $5,090,780 | $6,078,902 |
| Other current liabilities | $19,338,733 | $11,578,392 | $7,250,435 | $5,720,584 | $4,210,132 |
| Total current liabilities | $24,540,648 | $17,038,127 | $12,602,026 | $10,811,364 | $10,289,034 |
| Debt | $27,962,907 | $28,701,226 | $29,185,316 | $41,094,939 | $39,922,169 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1,551,801 | $876,775 | $4,193,465 | $5,948,872 | $3,417,832 |
| Total long-term liabilities | $29,514,708 | $29,578,001 | $33,378,781 | $47,043,811 | $43,340,001 |
| Total liabilities | $54,055,356 | $46,616,128 | $45,980,807 | $57,855,175 | $53,629,035 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $63,843,360 | $65,229,335 | $63,215,767 | $45,878,644 | $52,732,622 |
| With donor restrictions | $179,799,343 | $174,140,783 | $195,605,539 | $153,346,814 | $158,700,976 |
| Net assets | $243,642,703 | $239,370,118 | $258,821,306 | $199,225,458 | $211,433,598 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $24,848,265 | $34,166,059 | $22,284,163 | $15,640,022 | $15,641,451 |
| Program service revenue | $32,884,362 | $33,305,571 | $34,421,493 | $32,936,129 | $35,110,201 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $627,364 | $329,612 | $17,825,202 | $624,883 | $1,265,953 |
| Other revenue | ($226,351) | ($160,382) | $150,595 | ($261,861) | $953,499 |
| Total other revenue | $33,285,375 | $33,474,801 | $52,397,290 | $33,299,151 | $37,329,653 |
| Total revenue | $58,133,640 | $67,640,860 | $74,681,453 | $48,939,173 | $52,971,104 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $49,998,875 | $44,078,950 | $41,013,076 | $44,987,418 | $48,665,398 |
| Management and general | $11,540,917 | $10,406,220 | $12,742,005 | $15,326,787 | $15,576,666 |
| Fundraising | $2,567,786 | $2,631,076 | $2,250,232 | $2,709,006 | $2,490,917 |
| Total expenses | $64,107,578 | $57,116,246 | $56,005,313 | $63,023,211 | $66,732,981 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | ($5,973,938) | $10,524,614 | $18,676,140 | ($14,084,038) | ($13,761,877) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($5,973,938) | $10,524,614 | $18,676,140 | ($14,084,038) | ($13,761,877) |
Compensation
| Name | Title | Compensation |
| Mark Labberton Presidentprt yr | Trustee (part year)/Pres. Emeritus | $373,137 |
| Theopolis Cosse | Dean of School of Psychology | $284,787 |
| Raymond M Asad | CFO / Secretary | $257,346 |
| Lance Griffin | General Counsel | $218,812 |
| Alexis Abernathy | Chief Academic Officer | $209,865 |
| Jacob Mulder | Exec Dir of LFD & Sr Dir Strategy | $198,656 |
| Amos Yong | Dean School of Mission and Theology (part year) | $193,845 |
| Bernadette J O'Halloran | Chief of HR | $178,658 |
| Kenneth Tzuchien Wang | Professor | $173,796 |
| Steven Simpson | Associate Professor | $165,630 |
| Jeffrey Harwell | Chief Technology Officer | $159,445 |
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 9/17/2024. To update the information below, please email: [email protected]
History
In the mid-1940s, a gifted evangelist named Charles E. Fuller was reaching thousands through his popular radio broadcast, The Old Fashioned Revival Hour. But Fuller began to dream of a way to spread the gospel even further: through a new school on the West Coast that would train young evangelists and missionaries.
Harold John Ockenga, pastor of Boston's Park Street Church and an erudite theologian, shared Fuller's vision but encouraged him to broaden it. The church not only needed evangelists, he said, it needed pastors who were intellectually sound and culturally attuned as well as solidly evangelical.
In May 1947, the two men and four other evangelical scholars met in downtown Chicago, Illinois, to seek God's will together about the idea of a new theological seminary. So strong was the spirit of prayer that they were convinced God was indeed leading them into this venture of faith, and Fuller Theological Seminary was born. This "center for evangelical scholarship," they envisioned, would resist the separatism of the time and be a force for the renewal and broadening of fundamentalism and evangelicalism.
With Ockenga contributing his scholarly proficiency to Fuller's folksy charisma and astute business sense, the new seminary-named not for Charles E. Fuller but for his father, Henry Fuller-planned to open its doors in September 1947 at the beautiful Cravens Estate in Pasadena. City zoning ordinances prohibited the estate's use for instruction, however, so Fuller Seminary's inaugural group of 39 students found themselves attending classes in the kindergarten Sunday school rooms of Lake Avenue Congregational Church-sitting in child-sized chairs as they learned from a charter faculty of theological giants: Everett Harrison, Carl F. H. Henry, Harold Lindsell, and Wilbur Smith.
In subsequent years the student body grew rapidly, and in 1953 the seminary-with enrollment now at 250-moved to the newly constructed Payton Hall on Oakland Avenue, its first and now iconic building at the center of the Pasadena campus. In the 70 years since its founding, Fuller Theological Seminary has become a place of rich diversity and theological leadership beyond what its founders could ever have imagined. Now the largest multidenominational seminary in the world, Fuller's more than 3,500 students come from 90 countries and 110 denominations. Three schools and multiple locations allow Fuller to offer a full range of master's and doctoral programs in both traditional classrooms and virtual environments. More than 43,000 alumni serve in churches and communities across the globe.
Yet from Charles E. Fuller's original vision until now, Fuller Seminary's core commitment has remained the same: equipping leaders with minds for careful scholarship and hearts for the unchanging, saving gospel of Jesus Christ.