Reformed Theological Seminary

Nonprofit profile at a glance

EIN
640428676
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Jackson, MS, USA
Phone
6019231600
Rating
79
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Graduate, Professional Schools (Separate Entities)
Affiliation
Christianity

Reported finances

Revenue
$33,374,775
Expenses
$30,318,391
Assets
$133,736,170
Liabilities
$4,346,083

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

34 people listed

Executive titles in this filing

  • J LIGON DUNCAN III (CHANCELLOR/CEO)
  • J SCOTT REDD JR (PRESIDENT, DC CAMPUS)
  • MARK MCDOWELL (EXECUTIVE DIRECTOR, DALLAS AND HOUSTON CAMPUSES)
  • SCOTT SWAIN (PRESIDENT, ORLANDO CAMPUS)
  • MICHAEL KRUGER (PRESIDENT, CHARLOTTE CAMPUS)
  • DAVID JOHN (EXECUTIVE DIRECTOR, GLOBAL AND DISTANCE)

Highest reported compensation

  • J LIGON DUNCAN III (CHANCELLOR/CEO): $377,601 total reported compensation
  • J SCOTT REDD JR (PRESIDENT, DC CAMPUS): $219,897 total reported compensation
  • MARK MCDOWELL (EXECUTIVE DIRECTOR, DALLAS AND HOUSTON CAMPUSES): $214,414 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Reformed theological seminary (rts) 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 (continued on schedule o) globally accessible. Reformed theological seminary equips its students for ministry, primarily through pastoral training, to be servant leaders marked by a mind for truth. A heart for god.

What it reported doing in 2024

The seminary serves approximately 1,800 students through campuses in jackson, ms, orlando, fl, charlotte, nc, metro Washington, dc, atlanta, ga, houston, tx, dallas, tx, New York, ny, distance education programs, and an extension site in sao paulo, brazil. In addition, the seminary is enhancing reformed theology curriculum with organizations in indonesia. Students at rts are enrolled in the following academic degree programs: master of divinity, master of arts (theological studies), master of arts (biblical studies), master of arts (religion), master of arts in counseling, master of arts in christian counseling, master of theology, and doctor of ministry.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 70
  • Accountability: 97
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.1%; rating input score 85
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: $6.29 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95.2%; rating input score 95; 25th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 41st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 28th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.2%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 4.41; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 85.1% of revenue deployed · 75.6% of spending went to programs
  • Governance: 19 of 20 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $22.9M in reported program spending
  • Leadership: top reported pay $378K · 34 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $768K reported
  • Consistency: 46 of 47 current checks pass · 1 finding to review
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.