Westminster Theological Seminary

Analysis

Westminster Theological Seminary is a registered charity in United States, based in Glenside, PA. It received its IRS tax-exemption ruling in October 1989, 37 years ago. 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 June 2023, Westminster Theological Seminary reported income of $30.4m and spending of $26.7m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $21.0m to $30.4m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Westminster Theological Seminary sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Serge Global Inc ($30.4m), Young Womens Christian Association of Metropolitan St Louis Missouri ($30.4m) and Missouri Coalition for Community Behavioral Healthcare ($30.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $1.2m (4.6% of expenses). Other salaries and wages came to $8.9m. At year end it held assets of $62.1m against liabilities of $7.5m, net assets of $54.7m. It reported 254 employees.