Reformed Theological Seminary
Reformed Theological Seminary reported $33.4 million in revenue and $30.3 million in expenses for the fiscal year ending May 31, 2025. Of every $100 it spent, $75.57 went to program services, $18.69 to management and general costs and $5.74 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 40.4% of the total. The highest compensation it reported for one person was $377,601 (CHANCELLOR/CEO). 38 people received more than $100,000 in reportable compensation. Revenue rose 25% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending May 31, 2025 · Form 990, Part IX, line 25 · total expenses $30MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending May 31, 2025 · Form 990, Part VIII · total revenue $33MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 75.6% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 18.7% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 5.7% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.16 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 32.8% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 2.5% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 40.4% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $377,601 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.25% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 38 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 51.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 19 of 20 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe 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…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHANCELLOR/CEO Officer, 40.00 hrs/week | $276,427 | $0 | $101,174 | $377,601 |
| PRESIDENT, DC CAMPUS Key employee, 40.00 hrs/week | $161,771 | $0 | $58,126 | $219,897 |
| EXECUTIVE DIRECTOR, DALLAS AND HOUSTON CAMPUSES Highest compensated employee, 40.00 hrs/week | $129,306 | $0 | $85,108 | $214,414 |
| PRESIDENT, ORLANDO CAMPUS Highest compensated employee, 40.00 hrs/week | $131,381 | $0 | $72,419 | $203,800 |
| PRESIDENT, CHARLOTTE CAMPUS Highest compensated employee, 40.00 hrs/week | $127,609 | $0 | $63,651 | $191,260 |
| PROVOST Officer, 40.00 hrs/week | $166,540 | $0 | $22,199 | $188,739 |
| PROFESSOR & ACADEMIC DEAN, ORLANDO Highest compensated employee, 40.00 hrs/week | $110,393 | $0 | $64,567 | $174,960 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $124,404 | $0 | $25,061 | $149,465 |
38 people received more than $100,000 in reportable compensation from Reformed Theological Seminary (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.7M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b20 · 19 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5358
- Volunteers Part I, line 620
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| TAX CREDIT CO LLC Calculation of employee retention credit | $237,068 |
| KERIOTH CORPORATION Office park management | $143,613 |
| THE FOCUS GROUP Fundraising campaign and other training | $138,373 |
| PENDLETON SECURITY Security services | $133,346 |
| FORVIS MAZARS Audit, accounting and tax form preparati | $115,774 |
Individuals listed as contractors are left out. 6 contractors were paid more than $100,000 in all.
Private foundation grants it received
23 private foundations reported grants to Reformed Theological Seminary totaling $299K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Reformed Theological Seminary's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Reformed Theological Seminary, you can publish a response that is linked from this page.
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Of every $100 Reformed Theological Seminary spent in FY2025, $75.57 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Ranney SchoolTinton Falls, NJ · revenue $33M · programs 77.9% · FY2025
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Questions people ask
How much of Reformed Theological Seminary's spending goes to programs?
In the fiscal year ending May 31, 2025, Reformed Theological Seminary reported that 75.6% of its $30.3 million in expenses went to program services, 18.7% to management and general and 5.7% to fundraising (Form 990, Part IX).
How much does Reformed Theological Seminary pay its top executive?
The largest total compensation Reformed Theological Seminary reported for one person in the fiscal year ending May 31, 2025 was $377,601, for the role of CHANCELLOR/CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Reformed Theological Seminary get its money?
Of $33.4 million in revenue in the fiscal year ending May 31, 2025, 32.8% came from contributions and grants (including 2.5% from government grants) and 40.4% from program service revenue (Form 990, Part VIII).
Is Reformed Theological Seminary a registered charity?
The IRS lists EIN 64-0428676 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending May 31, 2025, object 202641059349300434 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending May 31, 2024, object 202501009349300030 · read the filing
- FY2023: Form 990 for the fiscal year ending May 31, 2023, object 202401019349300030 · read the filing
- FY2022: Form 990 for the fiscal year ending May 31, 2022, object 202341039349300734 · read the filing
- FY2021: Form 990 for the fiscal year ending May 31, 2021, object 202220769349300527 · read the filing
- FY2020: Form 990 for the fiscal year ending May 31, 2020, object 202130829349301028 · read the filing
All filings for EIN 64-0428676: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.