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Nonprofiteer
← CALVIN THEOLOGICAL SEMINARY

Form 990 for tax year 2022

Filed by CALVIN THEOLOGICAL SEMINARY.

Totals

Total revenue
$15,339,909
Total expenses
$11,282,615
Contributions and grants received
$7,731,320
Grants paid
$1,233,543
Program service revenue
$2,499,498
Investment income
$5,063,548
Other revenue
$45,543
Total assets, end of year
$88,012,471
Total liabilities, end of year
$2,677,007
Net assets or fund balances, end of year
$85,335,464
Program services expenses (Part IX)
$8,032,331
Management and general expenses
$2,510,203
Fundraising expenses
$740,081
Program service expenses (Part III)
$8,032,331

Program services were 71.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $263,592

  • 1d · Related organizations

    $1,675,251

  • 1f · All other contributions, gifts and grants

    $5,792,477

  • 2a · Program service revenue: Tuition & fees

    total $1,854,845 · related or exempt $1,854,845

  • 2b · Program service revenue: Auxiliary enterprises

    total $644,653 · related or exempt $644,653

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,140,845 · excluded $1,140,845

  • 5 · Royalties

    total $10,262 · excluded $10,262

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $14,371,680 · other assets $5,200,000

  • 7b · Less cost or other basis and sales expenses

    securities $14,069,667 · other assets $1,579,310

  • 7c · Gain or loss

    securities $302,013 · other assets $3,620,690

  • 7d · Net gain or loss

    total $3,922,703 · excluded $3,922,703

  • 8a · Fundraising events: gross income

    $102,459

  • 8a · Fundraising events: contributions included on line 1c

    $263,592

  • 8b · Fundraising events: direct expenses

    $102,459

  • 8c · Net income from fundraising events

    total $0 · excluded $0

  • 11a · Other revenue: Misc. revenue

    total $35,281 · related or exempt $35,281

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $35,281

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,233,543 · program services $1,233,543

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $427,472 · program services $70,858 · management and general $287,840 · fundraising $68,774

  • 6 · Compensation of disqualified persons

    total $3,000 · management and general $3,000

  • 7 · Other salaries and wages

    total $3,806,634 · program services $2,942,293 · management and general $636,385 · fundraising $227,956

  • 8 · Pension plan contributions

    total $344,586 · program services $267,927 · management and general $56,247 · fundraising $20,412

  • 9 · Other employee benefits

    total $354,850 · program services $262,538 · management and general $68,262 · fundraising $24,050

  • 10 · Payroll taxes

    total $142,722 · program services $102,451 · management and general $30,407 · fundraising $9,864

  • 11b · Fees: legal

    total $9,279 · management and general $9,279

  • 11c · Fees: accounting

    total $47,612 · management and general $47,612

  • 11f · Fees: investment management

    total $262,112 · management and general $262,112

  • 11g · Fees: other

    total $582,696 · program services $388,961 · management and general $79,465 · fundraising $114,270

  • 12 · Advertising and promotion

    total $299,963 · program services $150,360 · management and general $13,539 · fundraising $136,064

  • 13 · Office expenses

    total $201,624 · program services $138,635 · management and general $40,962 · fundraising $22,027

  • 14 · Information technology

    total $299,341 · program services $224,506 · management and general $59,868 · fundraising $14,967

  • 16 · Occupancy

    total $1,248,149 · program services $743,009 · management and general $505,140 · fundraising $0

  • 17 · Travel

    total $385,659 · program services $250,019 · management and general $78,183 · fundraising $57,457

  • 19 · Conferences, conventions and meetings

    total $116,093 · program services $95,437 · management and general $17,422 · fundraising $3,234

  • 22 · Depreciation, depletion and amortization

    total $734,515 · program services $550,886 · management and general $146,903 · fundraising $36,726

  • 24a · Other expenses: Misc expenses

    total $491,228 · program services $373,009 · management and general $113,939 · fundraising $4,280

  • 24b · Other expenses: Equipment and maintenance

    total $269,180 · program services $226,784 · management and general $42,396

  • 24c · Other expenses: Subscriptions and memberships

    total $22,357 · program services $11,115 · management and general $11,242

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,436,329 · end of year $479,897

  • 2 · Savings and temporary cash investments

    beginning of year $912,954 · end of year $27,329

  • 4 · Accounts receivable

    beginning of year $235,209 · end of year $182,226

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $400,849 · end of year $173,587

  • 10a · Land, buildings and equipment: cost or other basis

    $24,830,320

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,265,642

  • 10c · Land, buildings and equipment, net

    beginning of year $16,342,769 · end of year $15,564,678

  • 11 · Investments: publicly traded securities

    beginning of year $52,501,684 · end of year $54,966,618

  • 12 · Investments: other securities

    beginning of year $5,988,969 · end of year $14,550,528

  • 13 · Investments: program-related

    beginning of year $1,088,710 · end of year $951,886

  • 15 · Other assets

    beginning of year $0 · end of year $1,115,722

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,671,070 · end of year $1,363,420

  • 19 · Deferred revenue

    beginning of year $125,855 · end of year $111,712

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $172,302 · end of year $1,201,875

  • 27 · Net assets without donor restrictions

    beginning of year $19,407,743 · end of year $28,520,445

  • 28 · Net assets with donor restrictions

    beginning of year $57,530,503 · end of year $56,815,019

Mission and programs · 2022

Mission

Calvin Theological Seminary exists to serve the Christian Reformed Church in North America and wider constituencies by preparing persons for biblically faithful and contextually effective ministry of the Word and by offering reformed theological scholarship and counsel.

Activities or mission (Part I)

Calvin Theological Seminary exists to serve the Christian Reformed Church by preparing persons for biblically faithful and contextually effective ministry of the Word.

  • The Seminary's primary purpose is the education and training of over 300 students to prepare them for ministry and leadership in the church.

    Expenses $7,342,076 · Grants $1,210,553 · Revenue $1,885,926

  • Auxiliary Revenues include activities for student housing. This is only housing revenues and expenditures.

    Expenses $567,745 · Grants $22,990 · Revenue $644,653

  • The Calvin Theological Journal and CTS Forum provide opportunities for students and faculty.

    Expenses $62,098 · Revenue $4,200

  • The Faculty Heritage Fund provides funds for research and professional development for seminary faculty.

    Expenses $60,412

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Morren

    Board Chairman

    Total calculated
    $0
    Hours/week
    5

  • Scott Greenway

    Board Vice Chairman

    Total calculated
    $0
    Hours/week
    4

  • Susan Keesen

    Board Secretary

    Total calculated
    $0
    Hours/week
    2

  • Brian Verhuel

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Charles Veenstra

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Hessel Kielstra

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Julius Umawing

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Kristin Vos

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Mark Verbruggen

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Mr Frank Zee

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ms Heather Garretson

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ms Louise Boutin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ms Sue Imig

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ms Susan Strikwerda

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Paul Boersma

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Rev Alan E van der Woerd

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Rev Arthur J Van Wolde

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Rev Christian Oh

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Rev James Jones

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Rev Robert Drenten

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Theresa Rottschafer

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Christopher Dinh

    Director of Finance (part year)

    Total calculated
    $98,504
    From this org
    $89,758
    From related orgs
    $0
    Other
    $8,746
    Hours/week
    40

  • Margaret Mwenda

    Chief Operating Officer

    Total calculated
    $128,783
    From this org
    $105,127
    From related orgs
    $0
    Other
    $23,656
    Hours/week
    40

  • Randy DeVries

    Controller

    Total calculated
    $0
    Hours/week
    40

  • Rev Julius T Medenblik JD

    President

    Total calculated
    $209,732
    From this org
    $179,910
    From related orgs
    $0
    Other
    $29,822
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,514
    Bonus
    $0
    Other
    $396
    Deferred
    $17,991
    Nontaxable benefits
    $11,831
    Filer's total
    $209,732

  • Danjuma Gibson

    Professor of Pastoral Theology, Care and Counseling

    Total calculated
    $143,135
    From this org
    $111,168
    From related orgs
    $0
    Other
    $31,967
    Hours/week
    40

  • Robert Knoor

    Director of Development

    Total calculated
    $130,819
    From this org
    $114,746
    From related orgs
    $0
    Other
    $16,073
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use
Pursuant to Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. Rev Julius T Medenblik, JD, President and Danjuma Gibson, Professor of Pastoral Theology, Care and Counseling met the qualifications for and received a ministerial housing allowance during the tax year.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
16 January 2025
IRS schema version
2022v5.0
Source object
202520169349301242

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