Mid-America Reformed Seminary
- Assets
- $9.9m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 31
- Location
- Dyer, IN
- Founding
- 09/1981
- Data as of
- 06/2022
- EIN
- 42-1164750
Organization Overview
Mid-America Reformed Seminary is located in Dyer, IN. The organization was established in 1981. According to its NTEE Classification (X02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Religion-Related and related organizations. As of 06/2022, Mid-America Reformed Seminary employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-America Reformed Seminary is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Mid-America Reformed Seminary generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 4.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE STUDENTS FOR THE MINISTRY OF THE GOSPEL IN REFORMED AND PRESBYTERIAN CHURCHES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL-COURSES OFFERED IN RELIGIOUS EDUCATION THE MASTER OF DIVINITY (M.DIV.) DEGREE PROGRAM PREPARES STUDENTS FOR THE ORDAINED GOSPEL MINISTRY AS PASTORS, CHAPLAINS, MISSIONARIES, AND EVANGELISTS. THE MASTER OF THEOLOGICAL STUDIES (MTS) DEGREE PROGRAM IS A TWO-YEAR PROGRAM FOR STUDENTS WHO DESIRE THEOLOGICAL EDUCATION BUT DO NOT SEEK ORDINATION. THE PURPOSE OF THE MTS DEGREE IS TO PREPARE STUDENTS FOR FURTHER GRADUATE STUDY OR TO IMPART THEOLOGICAL KNOWLEDGE THAT MAY SERVE TO ENHANCE TRAINING RECEIVED IN OTHER FIELDS.MID-AMERICA ALSO OFFERS ABBREVIATED AND INDIVIDUAL PROGRAMS OF STUDY THAT WILL ALLOW THE STUDENT TO RECEIVE A CERTIFICATE OF EDUCATION.
STUDENT SUPPORT PROGRAM INCLUDES FINANCIAL AID TO STUDENTS AND NUMEROUS STUDENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Cornelis P Venema President | Officer | 40 | $62,912 |
Rev James Sawtelle President | OfficerTrustee | 2 | $0 |
Rev Paul Murphy Vice President | OfficerTrustee | 2 | $0 |
Bryan Holstrom Treasurer | OfficerTrustee | 2 | $0 |
Dr Edwin Kreykes Secretary | OfficerTrustee | 2 | $0 |
Tim Beezhold Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,625 |
| Related organizations | $680,730 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,240,033 |
| Noncash contributions included in lines 1a–1f | $610 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,938,388 |
| Total Program Service Revenue | $269,433 |
| Investment income | $329,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $113,340 |
| Net Income from Fundraising Events | -$3,819 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,762 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,650,498 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $188,769 |
| Grants and other assistance to Foreign Orgs/Individuals | $21,692 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $153,894 |
| Compensation of current officers, directors, key employees. | $61,558 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,055,988 |
| Pension plan accruals and contributions | $83,975 |
| Other employee benefits | $261,576 |
| Payroll taxes | $38,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,439 |
| Fees for services: Accounting | $11,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,558 |
| Fees for services: Other | $137,345 |
| Advertising and promotion | $63,002 |
| Office expenses | $89,914 |
| Information technology | $76,340 |
| Royalties | $0 |
| Occupancy | $81,350 |
| Travel | $98,647 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91,331 |
| Insurance | $5,820 |
| All other expenses | $7,261 |
| Total functional expenses | $2,569,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401 |
| Savings and temporary cash investments | $1,219,061 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $42,334 |
| Inventories for sale or use | $37,021 |
| Prepaid expenses and deferred charges | $61,519 |
| Net Land, buildings, and equipment | $2,065,279 |
| Investments—publicly traded securities | $6,435,990 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,861,676 |
| Accounts payable and accrued expenses | $23,042 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $41,774 |
| Total liabilities | $64,816 |
| Net assets without donor restrictions | $9,363,603 |
| Net assets with donor restrictions | $433,257 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,861,676 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Mid-America Reformed Seminary has recieved totaling $133,930.
| Awarding Organization | Amount |
|---|---|
Stewardship Foundation Escondido, CA PURPOSE: CHARITABLE DONATION | $60,000 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: PATHWAYS FOR TOMORROW INITIATIVE | $49,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $22,400 |
Pella Rolscreen Foundation Pella, IA PURPOSE: GENERAL OPERATIONS | $1,300 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $730 |
Endowment Analysis
| Beg. Balance | $742,432 |
| Earnings | -$33,398 |
| Net Contributions | $339,440 |
| Other Expense | $615,217 |
| Ending Balance | $433,257 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Discipledata Inc Carmel, IN | $613,727 | $3,845,801 |
Mid-America Reformed Seminary Dyer, IN | $9,861,676 | $3,650,498 |
Cadre International Sycamore, IL | $365,868 | $485,412 |
Eternal Vision Inc Watertown, WI | $1,092,050 | $293,805 |
Christian Training And Missionary Fellowship Inc Madisonville, KY | $1,966,778 | $444,483 |
Bravingbird Nfp West Dundee, IL | $827,060 | $1,150,100 |
Lightrider Inc Upland, IN | $98,713 | $146,805 |
Per Mission Inc Mahomet, IL | $21,299 | $0 |
Nextgen Pastors Inc Waukesha, WI | $49,649 | $0 |
Steve Cassell Ministries Lena, IL | $26,599 | $100,607 |
Indeos Foundation Vernon Hills, IL | $119,162 | $0 |
Christian Bible College And Seminary Blue Springs, MO | $126,716 | $0 |