Nonprofit · EIN 64-0428676
REFORMED THEOLOGICAL SEMINARY
Tax-exempt · JACKSON, MS 39211
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $33,374,775 | $30,318,391 | $3,056,384 | $133,736,170 | $4,346,083 | $129,390,087 |
| May 31, 2024 | 990 | $33,027,981 | $30,146,830 | $2,881,151 | $130,756,934 | $4,130,644 | $126,626,290 |
| May 31, 2023 | 990 | $31,197,255 | $29,471,208 | $1,726,047 | $122,160,869 | $4,653,692 | $117,507,177 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $10,957,073
- of which government grants
- $827,830
- Program service revenue
- $13,488,775
- Investment income
- $7,813,608
- Net rental income
- $1,050,605
- Net gain from sales of assets
- $6,067,765
- Net income from fundraising events
- -$39,393
- Net income from sales of inventory
- $47,881
- Other revenue
- $1,115,319
Expenses
- Grants and similar amounts paid
- $6,218,475
- Compensation of officers, directors and key employees
- $1,659,575
- Other salaries and wages
- $11,043,353
- Salaries, compensation and benefits (total)
- $14,742,830
- Professional fundraising fees
- $254,115
- Legal fees
- $41,179
- Accounting fees
- $131,224
- Occupancy
- $2,496,758
- Travel
- $737,254
- Depreciation
- $2,408,708
- Program services (functional)
- $22,910,332
- Management and general (functional)
- $5,666,135
- Fundraising (functional)
- $1,741,924
Balance sheet and other
- Total assets, start of year
- $130,756,934
- Total assets, end of year
- $133,736,170
- Total liabilities, end of year
- $4,346,083
- Net assets, end of year
- $129,390,087
- Land, buildings and equipment
- $37,518,442
- Publicly traded securities
- $50,287,084
- Net assets without donor restrictions
- $70,931,180
- Net assets with donor restrictions
- $58,458,907
- Gross unrelated business income
- $331,165
- Gross receipts
- $54,371,520
- Employees
- 358
- Volunteers
- 20
- Year formed
- 1964
- State of legal domicile
- MS
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| J LIGON DUNCAN III | CHANCELLOR/CEO Officer | 40 | $276,427 | $101,174 |
| J SCOTT REDD JR | PRESIDENT, DC CAMPUS Key employee | 40 | $161,771 | $58,126 |
| MARK MCDOWELL | EXECUTIVE DIRECTOR, DALLAS AND HOUSTON CAMPUSES Highest-paid employee | 40 | $129,306 | $85,108 |
| SCOTT SWAIN | PRESIDENT, ORLANDO CAMPUS Highest-paid employee | 40 | $131,381 | $72,419 |
| MICHAEL KRUGER | PRESIDENT, CHARLOTTE CAMPUS Highest-paid employee | 40 | $127,609 | $63,651 |
| ROBERT CARA | PROVOST Officer | 40 | $166,540 | $22,199 |
| ROBERT ALLEN | PROFESSOR & ACADEMIC DEAN, ORLANDO Highest-paid employee | 40 | $110,393 | $64,567 |
| RICKY RAYBORN | CHIEF OPERATING OFFICER Officer | 40 | $124,404 | $25,061 |
| JESSICA SHORT | CHIEF FINANCIAL OFFICER Officer | 40 | $134,532 | $14,327 |
| DAVID VELDKAMP | CHIEF ENROLLMENT MANAGEMENT OFFICER Officer | 40 | $116,715 | $24,386 |
| DAVID JOHN | EXECUTIVE DIRECTOR, GLOBAL AND DISTANCE Highest-paid employee | 40 | $116,022 | $22,533 |
| RICHARD DOGGETT | CHIEF OF STAFF Officer | 40 | $115,354 | $12,486 |
| KIMBERLY SHIRLEY | CHIEF COMMUNICATIONS OFFICER Officer | 40 | $96,488 | $22,666 |
| AMY HONEYCUTT | CHIEF MARKETING OFFICER Officer | 40 | $95,494 | $11,789 |
| RICHARD RIDGWAY | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
19 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| V HU MEENA | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 |
| RODERICK S RUSS III | SECRETARY Trustee or director, Officer | 1 | $0 |
| WILLIAM MOUNGER | TREASURER Trustee or director, Officer | 1 | $0 |
| BF BRACY | TRUSTEE Trustee or director | 1 | $0 |
| HUGH COMER | TRUSTEE Trustee or director | 1 | $0 |
| ROBERT CURTIS | TRUSTEE Trustee or director | 1 | $0 |
| LARRY EDWARDS | TRUSTEE Trustee or director | 1 | $0 |
| T DAVID ELKIN | TRUSTEE Trustee or director | 1 | $0 |
| GEROGE FAIR | TRUSTEE Trustee or director | 1 | $0 |
| PAUL HURST III | TRUSTEE Trustee or director | 1 | $0 |
| CHARLES IRBY SR | TRUSTEE Trustee or director | 1 | $0 |
| J BYRON JOHNSON | TRUSTEE Trustee or director | 1 | $0 |
| COLLIE LEHN | TRUSTEE Trustee or director | 1 | $0 |
| DAVID H LUCAS | TRUSTEE Trustee or director | 1 | $0 |
| SCOTT MCLELLAN | TRUSTEE Trustee or director | 1 | $0 |
| J SCOTT REDD SR | TRUSTEE Trustee or director | 1 | $0 |
| BENJAMIN ROBERSON | TRUSTEE Trustee or director | 1 | $0 |
| CRAIG ROHDE | TRUSTEE Trustee or director | 1 | $0 |
| WARREN WILLIAMSON | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended May 31, 2024: 32 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| J Ligon Duncan III | Chancellor and CEO Officer | 40 | $280,111 | $46,261 |
| James Harvey | Executive Director, NYC Campus Highest-paid employee | 40 | $155,504 | $36,919 |
| J SCOTT Redd JR | President, Washington DC Campus Highest-paid employee | 40 | $147,476 | $34,878 |
| Robert Cara | Provost and Chief Academic Officer Officer | 40 | $148,389 | $30,392 |
| Scott Swain | President, Orlando Campus Highest-paid employee | 40 | $126,320 | $32,837 |
| Mark McDowell | Executive Director, Dallas and Houston Campus Highest-paid employee | 40 | $125,306 | $33,440 |
| David Veldkamp | Chief Enrollment Management Officer Officer | 40 | $128,647 | $29,247 |
| MICHAEL KRUGER | PRESIDENT, CHAROLOTTE CAMPUS Highest-paid employee | 40 | $122,711 | $33,438 |
| Jessica Short | CFO Officer | 40 | $135,362 | $15,895 |
| Ricky Rayborn | COO Officer | 40 | $108,840 | $29,156 |
| Michael Copening | Chief Information Technology Officer Officer | 40 | $87,113 | $12,822 |
| Richard Doggett | Chief of Staff Officer | 40 | $53,786 | $6,823 |
| LARRY W EDWARDS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| RICHARD L RIDGWAY | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| RODERICK S RUSS III | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| WILLIAM M MOUNGER II | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| BENJAMIN W ROBERSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BF BRACY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHARLES L IRBY SR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| COLLIE W LEHN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CRAIG C ROHDE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID H LUCAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEORGE R FAIR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| HUGH M COMER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| J BYRON JOHNSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| J SCOTT REDD SR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| PAUL HURST III | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROBERT T CURTIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SCOTT MCLELLAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| T DAVID ELKIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| V HU MEENA | TRUSTEE Trustee or director | 1 | $0 | $0 |
| WARREN J WILLIAMSON JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
990 for the year ended May 31, 2023: 36 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| J LIGON DUNCAN III | CHANCELLOR/CEO Officer | 40 | $306,317 | $48,657 |
| JAMES HARVEY | EXECUTIVE DIRECTOR - NYC Highest-paid employee | 40 | $222,708 | $29,993 |
| J SCOTT REDD JR | PRESIDENT - WASHINGTON DC Highest-paid employee | 40 | $166,363 | $35,948 |
| MICHAEL KRUGER | PRESIDENT - CHARLOTTE Key employee | 40 | $164,450 | $34,876 |
| ROBERT J CARA | PROVOST/CAO Officer | 40 | $155,116 | $37,285 |
| DOUGLAS BAKER | CHANCELLOR'S CHIEF OF STAFF Officer | 40 | $187,908 | $1,481 |
| SCOTT SWAIN | PRESIDENT - ORLANDO Key employee | 40 | $152,239 | $35,305 |
| MARK MCDOWELL | EXECUTIVE DIRECTOR - DALLAS Highest-paid employee | 40 | $141,527 | $30,659 |
| GUY RICHARD | PRESIDENT OF ATLANTA CAMPUS Highest-paid employee | 40 | $132,529 | $30,025 |
| DAVID JOHN | EXECUTIVE DIRECTOR OF GLOBAL Highest-paid employee | 40 | $102,514 | $38,624 |
| MATTHEW BRYANT | CHIEF DEVELOPMENT OFFICER Officer | 40 | $102,271 | $29,102 |
| DAVID VELDKAMP | CHIEF ENROLLMENT OFFICER Officer | 40 | $93,174 | $29,312 |
| MICHAEL COPENING | CHIEF IT OFFICER Officer | 40 | $80,307 | $13,496 |
| PHILLIP HOLMES | CHIEF COMMUNICATIONS OFFICER Officer | 40 | $21,871 | $8,696 |
| JESSICA SHORT | CHIEF FINANCIAL OFFICER Officer | 40 | $24,298 | $897 |
| WILLIAM M MOUNGER II | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| BF BRACY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BENJAMIN W ROBERSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHARLES L IRBY SR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| COLLIE W LEHN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CRAIG C ROHDE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAVID H LUCAS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEORGE R FAIR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| HUGH M COMER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| J BYRON JOHNSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| J SCOTT REDD SR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LARRY W EDWARDS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PAUL HURST III | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RICHARD L RIDGWAY | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT T CURTIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RODERICK S RUSS III | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| SCOTT MCLELLAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| T DAVID ELKIN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| V HU MEENA | TRUSTEE Trustee or director | 1 | $0 | $0 |
| WARREN J WILLIAMSON JR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RICKY RAYBORN | CHIEF OPERATIONS OFFICER Officer | 40 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4268 I 55 N, JACKSON, MS 39211-6391
- In care of
- % JESSICA SHORT
- Principal officer (990 for 2024)
- J LIGON DUNCAN III, 4268 I-55 N, JACKSON, MS 39211
- Signed the 990
- JESSICA SHORT, CFO
- Phone
- (601) 923-1600
- Website
- RTS.EDU
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
REFORMED THEOLOGICAL SEMINARY (RTS) EXISTS TO GLORIFY THE TRIUNE GOD AND TO SERVE HIS CHURCH IN ALL BRANCHES OF EVANGELICAL CHRISTIANITY, ESPECIALLY PRESBYTERIAN AND REFORMED CHURCHES, BY PROVIDING REFORMED GRADUATE THEOLOGICAL EDUCATION THAT IS (CONTINUED ON SCHEDULE O) GLOBALLY ACCESSIBLE. REFORMED THEOLOGICAL SEMINARY EQUIPS ITS STUDENTS FOR MINISTRY, PRIMARILY THROUGH PASTORAL TRAINING, TO BE SERVANT LEADERS MARKED BY A MIND FOR TRUTH. A HEART FOR GOD.
Program accomplishments
- THE SEMINARY SERVES APPROXIMATELY 1,800 STUDENTS THROUGH CAMPUSES IN JACKSON, MS, ORLANDO, FL, CHARLOTTE, NC, METRO WASHINGTON, DC, ATLANTA, GA, HOUSTON, TX, DALLAS, TX, NEW YORK, NY, DISTANCE EDUCATION PROGRAMS, AND AN EXTENSION SITE IN SAO PAULO, BRAZIL. IN ADDITION, THE SEMINARY IS ENHANCING REFORMED THEOLOGY CURRICULUM WITH ORGANIZATIONS IN INDONESIA. STUDENTS AT RTS ARE ENROLLED IN THE FOLLOWING ACADEMIC DEGREE PROGRAMS: MASTER OF DIVINITY, MASTER OF ARTS (THEOLOGICAL STUDIES), MASTER OF ARTS (BIBLICAL STUDIES), MASTER OF ARTS (RELIGION), MASTER OF ARTS IN COUNSELING, MASTER OF ARTS IN CHRISTIAN COUNSELING, MASTER OF THEOLOGY, AND DOCTOR OF MINISTRY.Expenses $22,910,332 · grants $6,218,475 · revenue $14,149,564
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 64-0428676
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1964
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B500)
- Assets (IRS master file)
- $133,736,170
- Income (IRS master file)
- $54,371,520
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $33,374,775 | $30,318,391 | $133,736,170 | XML |
| 990-T | May 2025 | – | – | – | IRS |
| 990 | May 2024 | $33,027,981 | $30,146,830 | $130,756,934 | XML |
| 990-T | May 2024 | – | – | – | IRS |
| 990 | May 2023 | $31,197,255 | $29,471,208 | $122,160,869 | XML |
| 990-T | May 2023 | – | – | – | IRS |
| 990 | May 2022 | $29,054,898 | $26,360,001 | $124,776,543 | IRS |
| 990-T | May 2022 | – | – | – | IRS |
| 990 | May 2021 | – | – | – | IRS |
| 990-T | May 2021 | – | – | – | IRS |
| 990 | May 2020 | – | – | – | IRS |
| 990 | May 2019 | – | – | – | IRS |
| 990 | May 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 64-0428676).
Questions about REFORMED THEOLOGICAL SEMINARY
- What is the EIN of REFORMED THEOLOGICAL SEMINARY?
- The employer identification number (EIN) of REFORMED THEOLOGICAL SEMINARY is 64-0428676.
- Is REFORMED THEOLOGICAL SEMINARY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1964.
- Are donations to REFORMED THEOLOGICAL SEMINARY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does REFORMED THEOLOGICAL SEMINARY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of REFORMED THEOLOGICAL SEMINARY due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did REFORMED THEOLOGICAL SEMINARY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who is the principal officer of REFORMED THEOLOGICAL SEMINARY?
- The 990 for the year ended May 31, 2025 names J LIGON DUNCAN III.
- Who are the officers and directors of REFORMED THEOLOGICAL SEMINARY?
- The 990 for the year ended May 31, 2025 lists 34 people; 14 received compensation from the organization, the highest $276,427 (J LIGON DUNCAN III, CHANCELLOR/CEO).
- How much revenue does REFORMED THEOLOGICAL SEMINARY have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $33,374,775, expenses of $30,318,391 and total assets of $133,736,170 at year end.
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