Westminster Theological Seminary

Nonprofit profile at a glance

EIN
231352689
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Glenside, PA, USA
Phone
888-691-8569
Rating
77
Verdict
SUPPORTED
Rating confidence
Standard
Affiliation
Christianity

Official website

Reported finances

Revenue
$32,134,115
Expenses
$30,037,172
Assets
$77,992,810
Liabilities
$10,718,127

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

Leadership & pay

27 people listed

Executive titles in this filing

  • PETER LILLBACK (PRESIDENT)

Highest reported compensation

  • PETER LILLBACK (PRESIDENT): $240,279 total reported compensation
  • JERRY TIMMIS (VP OF STEWARDSHIP): $219,176 total reported compensation
  • DAVID GARNER (CHIEF ACADEMIC OFFICER): $189,212 total reported compensation

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

Overview

Mission

Westminster Theological Seminary exists to serve Christ and His church by providing theological education rooted in the inerrant Word of God and the Reformed faith, equipping students for faithful ministry in the church and the world.

What it reported doing in 2024

Postgraduate academic programswestminster exists to train specialists in the bible to proclaim the whole counsel of god for christ and his global church. It is our intention to contribute to the training and spiritual formation of all of our students in the various degree programs. We currently offer programs leading to the master of divinity (mdiv), master of arts in religion (mar), master of arts in counseling (mac), master of arts in theological studies (mats), master of theology (thm), doctor of ministry (dmin), doctor of philosophy (phd), and a certificate in christian studies (cert).(continued on schedule o)fall 2024 enrollment was 1,183 students with 185 in the residential program, 770 in online learning, 168 in the korean campus, 54 in the spanish campus, and 6 visiting students. With respect to spring 2025, enrollment was 1,171 with 167 in the residential program, 753 in online learning, 77 in the spanish program, 170 in the korean campus, and 4 visiting students.residential programs: fall 2024 - 85 in mdiv, 17 in mar, 14 in thm, 29 in phd, 40 in dmin; spring 2025 - 82 in mdiv, 15 in mar, 10 in thm, 29 in phd, 31 in dmin.

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 76% for direct work, and 24% 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: 67
  • Transparency & Controls: 73
  • Accountability: 100
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72%; rating input score 72
  • Program expense ratio: 76.1%; rating input score 76
  • Fundraising efficiency: $4.31 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 6.5%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 2.6; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 8.1% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 60th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 72% of revenue deployed · 76.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $22.9M in reported program spending
  • Leadership: top reported pay $240K · 27 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.8M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 4 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 17/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.