Fuller Theological Seminary (EIN 951699394) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1947

Legal Domicile

Phone

6255845453

Tax Period

2023-07-01 to 2024-06-30

Fuller Theological Seminary, founded in 1947, is a mid-sized nonprofit in the Education sector that reported $59.9M in total revenue in fiscal year 2023. Net assets of $256.2M represent 51 months of operating reserves.

Mission

Provides graduate degrees in Theology, Psychology, Intercultural Studies & operates Psych Center.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $20,666,320

Program Service Revenue $32,058,362

Investment Income $7,813,584

Other Revenue $-619,951

TOTAL REVENUE $59,918,315

Expense Breakdown

Grants Paid $7,363,952

Salaries & Benefits $34,621,861

Fundraising Expenses $2,845,908

Program Expenses $50,362,177

Other Expenses $22,870,219

TOTAL EXPENSES $64,856,032

Year-over-Year Comparison

	2023	2022	Change
Revenue	$59,918,315	$58,133,640	+0.0%
Expenses	$64,856,032	$64,107,578	+0.0%
Net Income	$-4,937,717	$-5,973,938	-0.2%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

1036

Volunteers

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

$1,596,028

Total Directors

$401,605

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Daniel D Meyer	Chair/Trustee	0.1	Officer Director	$0	$0	$0
Daniel L Villanueva	Treasurer/Trustee/Chair Ops	0.1	Officer Director	$0	$0	$0
David E Goatley	President/Trustee	40.0	Officer Director	$294,706	$106,899	$401,605
Mary Vermeer Andringa	Vice Chair/Trustee	0.1	Officer Director	$0	$0	$0
C Jeffrey Wright	Trustee	0.1	Director	$0	$0	$0
Clifford L Penner	Trustee/Chair TAC	0.1	Director	$0	$0	$0
Dale C Wong	Trustee/Chair JIC	0.1	Director	$0	$0	$0
Daniel Fong	Trustee	0.1	Director	$0	$0	$0
Daniel L Chun	Trustee	0.1	Director	$0	$0	$0
David Fung	Trustee	0.1	Director	$0	$0	$0
David L Bere	Trustee	0.1	Director	$0	$0	$0
Gregory L Headington	Trustee	0.1	Director	$0	$0	$0
Jim Mellado	Trustee	0.1	Director	$0	$0	$0
Jody A De Pree Vanderwel	Trustee	0.1	Director	$0	$0	$0
John Ortberg	Trustee	0.1	Director	$0	$0	$0
John Witvliet	Trustee	0.1	Director	$0	$0	$0
Kathy Drake	Trustee	0.1	Director	$0	$0	$0
Kevin T Chan	Trustee/Chair Audit	0.1	Director	$0	$0	$0
Larry A Smith	Trustee	0.1	Director	$0	$0	$0
Lip-Bu Tan	Trustee	0.1	Director	$0	$0	$0
Meritt Lohr Sawyer	Trustee	0.1	Director	$0	$0	$0
Nicholas E Brathwaite	Trustee	0.1	Director	$0	$0	$0
Nicholas Pearce	Trustee	0.1	Director	$0	$0	$0
Nicole Martin	Trustee	0.1	Director	$0	$0	$0
Samuel C Tolbert Jr	Trustee	0.1	Director	$0	$0	$0
Shirley A Mullen	Trustee	0.1	Director	$0	$0	$0
Stephen Aeschbacher	Trustee	0.1	Director	$0	$0	$0
Tom Hsieh	Trustee	0.1	Director	$0	$0	$0
Tom Lin	Trustee/Chair LFD	0.1	Director	$0	$0	$0
Wilma Jean Burch	Trustee	0.1	Director	$0	$0	$0
Alexis Abernathy	Chief Academic Officer	40.0	Officer	$196,948	$12,024	$208,972
Cynthia Blomquist Erikkson	Dean of School of Psychology	40.0	Officer	$138,598	$10,571	$149,169
Jeffrey Harwell	Chief Technology Officer	40.0	Officer	$134,095	$25,562	$159,657
Raymond M Asad	CFO and Secretary of the Board	40.0	Officer	$251,677	$5,631	$257,308
Sebastian Kim	Interim Dean of School of Mission and Theology	40.0	Officer	$101,472	$64,131	$165,603
Theopolis Cosse	Dean of School of Psychology (part year)	40.0	Officer	$246,941	$6,773	$253,714
Bernadette J O'Halloran	Chief of HR ganizational Development	40.0	Highest	$156,304	$26,084	$182,388
Jacob Mulder	Assistant Chief of Leadership Formation	40.0	Highest	$185,328	$28,343	$213,671
Kenneth Tzuchien Wang	Professor	40.0	Highest	$154,541	$26,372	$180,913
Lance Griffin	General Counsel	40.0	Highest	$211,377	$41,604	$252,981
Lisseth Rojas-Flores	Professor	40.0	Highest	$153,753	$25,145	$178,898
Mark Labberton	President Emeritus	0.0		$146,617	$138,770	$285,387

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	$59,918,315	$64,856,032	$296,847,896	$-4,937,717
2023	$58,133,640	$64,107,578	$297,698,059	$-5,973,938
2022	$67,640,860	$57,116,246	$285,986,246	$10,524,614
2021	$74,681,453	$56,005,313	$304,802,113	$18,676,140
2020	$48,939,173	$63,023,211	$257,080,633	$-14,084,038
2019	$52,971,104	$66,732,981	$265,062,633	$-13,761,877
2018	$53,143,149	$67,352,815	$272,224,260	$-14,209,666

Fuller Theological Seminary