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← PURITAN REFORMED THEOLOGICAL SEMINARY

Form 990 for tax year 2024

Filed by PURITAN REFORMED THEOLOGICAL SEMINARY.

Totals

Total revenue
$8,017,553
Total expenses
$6,818,909
Contributions and grants received
$6,813,857
Grants paid
$237,608
Program service revenue
$772,082
Investment income
$329,821
Other revenue
$101,793
Total assets, end of year
$20,109,949
Total liabilities, end of year
$445,308
Net assets or fund balances, end of year
$19,664,641
Program services expenses (Part IX)
$4,857,428
Management and general expenses
$1,395,648
Fundraising expenses
$565,833
Program service expenses (Part III)
$4,857,428

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

Listed in Part VII

  • BART ELSHOUT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GARY POSTMA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES BEEKE

    MINUTES/AGENDA SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • JOHN KOOPMAN

    CORRESPONDENCE SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN ENGELSMA

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • KEVIN ASH

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • PAUL GREENDYK

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • PETER KRANENDONK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID LIPSY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN PROCEE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ADRIAAN NEELE

    PRESIDENT

    Total calculated
    $184,259
    From this org
    $153,274
    From related orgs
    $0
    Other
    $30,985
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,274
    Bonus
    $0
    Other
    $0
    Deferred
    $5,985
    Nontaxable benefits
    $25,000
    Filer's total
    $184,259

  • KEVIN WALKOTTEN

    CFO

    Total calculated
    $145,163
    From this org
    $134,359
    From related orgs
    $0
    Other
    $10,804
    Hours/week
    40

  • GERALD BILKES

    VICE PRESIDENT

    Total calculated
    $150,049
    From this org
    $138,789
    From related orgs
    $0
    Other
    $11,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,789
    Bonus
    $0
    Other
    $0
    Deferred
    $4,407
    Nontaxable benefits
    $6,853
    Filer's total
    $150,049

  • DANIEL TIMMER

    EMPLOYEE

    Total calculated
    $151,805
    From this org
    $147,574
    From related orgs
    $0
    Other
    $4,231
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,574
    Bonus
    $0
    Other
    $0
    Deferred
    $4,231
    Nontaxable benefits
    $0
    Filer's total
    $151,805

  • MICHAEL BARRETT

    EMPLOYEE

    Total calculated
    $147,574
    From this org
    $113,343
    From related orgs
    $0
    Other
    $34,231
    Hours/week
    40

  • ZACHARY ASH

    EMPLOYEE

    Total calculated
    $136,192
    From this org
    $128,874
    From related orgs
    $0
    Other
    $7,318
    Hours/week
    40

  • STEPHEN MYERS

    EMPLOYEE

    Total calculated
    $130,932
    From this org
    $124,079
    From related orgs
    $0
    Other
    $6,853
    Hours/week
    40

  • KARLA SOULE

    EMPLOYEE

    Total calculated
    $123,954
    From this org
    $120,466
    From related orgs
    $0
    Other
    $3,488
    Hours/week
    40

  • JOEL BEEKE

    CHANCELLOR

    Total calculated
    $134,055
    From this org
    $109,055
    From related orgs
    $0
    Other
    $25,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,055
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $25,000
    Filer's total
    $134,055

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 · Written employment contract
  • 3 · Compensation survey or study
  • 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

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
2024
Filed
27 February 2026
IRS schema version
2024v5.5
Source object
202610619349300426

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