MID-AMERICA REFORMED SEMINARY

EIN: 421164750 501(c)(3)

DYER, IN

Total Revenue
$4,418,583
Total Expenses
$3,026,036
Total Assets
$13,894,778
Net Assets
$12,623,620
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
IA
Principal Officer
REV TODD JOLING
Phone
2198642400
Tax Period
2023-07-01 to 2024-06-30

MID-AMERICA REFORMED SEMINARY, founded in 1981, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.4M, a strong 32% operating margin.

Mission

MID-AMERICA REFORMED SEMINARY SEEKS TO SERVE THE CHURCH BY PREPARING STUDENTS FOR GOSPEL MINISTRY AS PASTORS, OR THOSE WHOSE SERVICE TO THE CHURCH MAY BE ENHANCED BY THEOLOGICAL EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $1,725,878 Revenue: $253,629

INSTRUCTIONAL-COURSES OFFERED IN RELIGIOUS EDUCATIOINTHE MASTER OF DIVINITY (M. DIV.) DEGREE PROGRAM PREPARES STUDENTS FOR THE ORDAINED GOSPEL MINISTRY AS PASTORS, CHAPLAINS, MISSIONARIES, AND...

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INSTRUCTIONAL-COURSES OFFERED IN RELIGIOUS EDUCATIOINTHE MASTER OF DIVINITY (M. DIV.) DEGREE PROGRAM PREPARES STUDENTS FOR THE ORDAINED GOSPEL MINISTRY AS PASTORS, CHAPLAINS, MISSIONARIES, AND EVANGELISTS.THE MASTER OF THEOLOGICAL STUDIES (MTS) DEGREE PROGRAM IS A TWO-YEAR PROGRAM FOR STUDENTS WHO DESIRE THEOLOGICAL EDUCATION BUT DO NOT SEEK ORDINATION. THE PURPOSE OF THE MTS DEGREE IS TO PREPARE STUDENTS FOR FURTHER GRADUATE STUDY OR TO IMPART THEOLOGICAL KNOWLEDGE THAT MAY SERVE TO ENHANCE TRAINING RECEIVED IN OTHER FIELDS.MID-AMERICA ALSO OFFERS ABBREVIATED AND INDIVIDUAL PROGRAMS OF STUDY THAT WILL ALLOW THE STUDENT TO RECEIVE A CERTIFICATE OF EDUCATION.

Program 2
Expenses: $331,508

STUDENT SUPPORT PROGRAM INCLUDES FINANCIAL AID TO STUDENTS AND NUMEROUS STUDENT ACTIVITIES.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,572,301
Program Service Revenue $248,722
Investment Income $586,546
Other Revenue $11,014
TOTAL REVENUE $4,418,583

Expense Breakdown

Grants Paid $317,185
Salaries & Benefits $1,809,593
Fundraising Expenses $232,178
Program Expenses $2,057,386
Other Expenses $899,258
TOTAL EXPENSES $3,026,036

Year-over-Year Comparison

2023 2022 Change
Revenue $4,418,583 $3,755,000 +0.2%
Expenses $3,026,036 $2,880,953 +0.1%
Net Income $1,392,547 $874,047 +0.6%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
18
Independent Members
18
Employees
35
Volunteers
28

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$170,608
Total Directors
19
$170,608
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR CORNELIS P VENEMA PRESIDENT 1.00
Officer Director
$151,971 $18,637 $170,608
REV TODD JOLING PRESIDENT 0.00
Officer Director
$0 $0 $0
REV PAUL MURPHY VICE PRESIDENT 0.00
Officer Director
$0 $0 $0
BRYAN HOLSTROCM TREASURER 0.00
Officer Director
$0 $0 $0
DR EDWIN KREYKES SECRETARY 0.00
Officer Director
$0 $0 $0
REV VALENTIN ALPUCHE DIRECTOR 0.00
Director
$0 $0 $0
TIM BEEZHOLD DIRECTOR 0.00
Director
$0 $0 $0
JOHN BOEKESTYN DIRECTOR 0.00
Director
$0 $0 $0
DR CAMDEN BUCEY DIRECTOR 0.00
Director
$0 $0 $0
BOB CLAUSING DIRECTOR 0.00
Director
$0 $0 $0
JEFF HUIZENGA DIRECTOR 0.00
Director
$0 $0 $0
PAUL HUIZENGA DIRECTOR 0.00
Director
$0 $0 $0
REV EDWARD MARCUSSE DIRECTOR 0.00
Director
$0 $0 $0
REV BILL POLS DIRECTOR 0.00
Director
$0 $0 $0
DR TIMOTHY SCHEUERS DIRECTOR 0.00
Director
$0 $0 $0
DENIIS SCHREUR DIRECTOR 0.00
Director
$0 $0 $0
HERB SINKE DIRECTOR 0.00
Director
$0 $0 $0
REV HARRY ZEKVELD DIRECTOR 0.00
Director
$0 $0 $0
REV RICHARD ZEKVELD DIRECTOR 0.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $4,418,583 $3,026,036 $13,894,778 $1,392,547
2023 $3,755,000 $2,880,953 $11,083,474 $874,047
2022 $3,650,498 $2,569,235 $9,861,676 $1,081,263
2021 $3,153,033 $2,171,046 $9,916,012 $981,987
2020 $3,853,861 $2,051,084 $7,914,414 $1,802,777
2019 $2,436,331 $2,112,438 $6,266,498 $323,893
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