GRAND RAPIDS, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)PURITAN REFORMED THEOLOGICAL SEMINARY, founded in 2004, is a community nonprofit in the Education sector that reported $8.0M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. Expenses of $6.8M left a modest 15% surplus.
TO PREPARE STUDENTS TO SERVE CHRIST AND HIS CHURCH THROUGH BIBLICAL, EXPERIENTIAL AND PRACTICAL MINISTRY. PRTS PROVIDES THEOLOGICAL TRAINING AND INSTRUCTION IN ACCORDANCE WITH THE SCRIPTURES AND THE HISTORIC REFORMED CREEDS FOR PROMOTION AND DEFENSE OF THE GOSPEL OF JESUS CHRIST.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $8,017,553 | $9,252,660 | -0.1% |
| Expenses | $6,818,909 | $6,039,740 | +0.1% |
| Net Income | $1,198,644 | $3,212,920 | -0.6% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| BART ELSHOUT | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| GARY POSTMA | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JAMES BEEKE | MINUTES/AGENDA SECRETARY | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| JOHN KOOPMAN | CORRESPONDENCE SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| JONATHAN ENGELSMA | VICE CHAIRMAN | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| KEVIN ASH | CHAIRMAN | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| PAUL GREENDYK | TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| PETER KRANENDONK | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID LIPSY | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| JOHN PROCEE | TRUSTEE | 1.00 |
Director
|
$0 | $0 | $0 |
| ADRIAAN NEELE | PRESIDENT | 40.00 |
Officer
|
$153,274 | $30,985 | $184,259 |
| KEVIN WALKOTTEN | CFO | 40.00 |
Officer
|
$134,359 | $10,804 | $145,163 |
| GERALD BILKES | VICE PRESIDENT | 40.00 |
Officer
|
$138,789 | $11,260 | $150,049 |
| DANIEL TIMMER | EMPLOYEE | 40.00 |
Highest
|
$147,574 | $4,231 | $151,805 |
| MICHAEL BARRETT | EMPLOYEE | 40.00 |
Highest
|
$113,343 | $34,231 | $147,574 |
| ZACHARY ASH | EMPLOYEE | 40.00 |
Highest
|
$128,874 | $7,318 | $136,192 |
| STEPHEN MYERS | EMPLOYEE | 40.00 |
Highest
|
$124,079 | $6,853 | $130,932 |
| KARLA SOULE | EMPLOYEE | 40.00 |
Highest
|
$120,466 | $3,488 | $123,954 |
| JOEL BEEKE | CHANCELLOR | 40.00 |
|
$109,055 | $25,000 | $134,055 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $8,017,553 | $6,818,909 | $20,109,949 | $1,198,644 |
| 2024 | $9,252,660 | $6,039,740 | $18,692,646 | $3,212,920 |
| 2023 | $6,666,827 | $4,737,212 | $15,209,895 | $1,929,615 |
| 2022 | $7,247,093 | $4,350,593 | $13,368,431 | $2,896,500 |
| 2021 | $4,158,234 | $3,833,498 | $10,309,102 | $324,736 |
| 2020 | $4,584,096 | $3,693,458 | $10,456,885 | $890,638 |
| 2019 | $4,429,975 | $3,573,538 | $9,466,742 | $856,437 |
| 2018 | $4,374,093 | $3,340,653 | $8,257,020 | $1,033,440 |
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