Puritan Reformed Theological Seminary

Analysis

Puritan Reformed Theological Seminary is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in November 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Puritan Reformed Theological Seminary reported income of $6.7m and spending of $4.7m, leaving 29% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $4.4m to $6.7m (+50%), an average of +11% a year. The sharpest change came in the year to July 2022, when income rose by 74%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Puritan Reformed Theological Seminary sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include Memphis Teacher Residency Inc ($6.7m), Young Scholars of Greater Allegheny Charter School ($6.7m) and Creative Inspiration Journey School of St Cloud Inc ($6.7m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 90% and program service revenue 8.7% of the total. Compensation of current officers, directors and key employees was $414k (8.7% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $15.2m against liabilities of $189k, net assets of $15.0m. It reported 55 employees.