2009 Annual Report
- Did You Know
- President's Letter
- Programs
- Student Stories
- Fall 2009 Enrolment
- Our Financial Results
- Our Financial Future
- Faculty, Staff and Board
Did You Know?
We have a new president –
Dr. Mark S. Young started on July 1, 2009.
Our chancellor Dr. Vernon C. Grounds and his wife celebrated their 95th birthdays and 70th wedding anniversary this summer.
The Fall 2009 incoming class of 249 was the largest in the history of Denver Seminary
President’s Letter
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On July 1, 2009, when I became Denver Seminary’s 7th president, I was handed a precious gift—60 years of a noble history of educational excellence and global ministry. The fruit of that legacy is included in this annual report. In these pages you’ll see that God is doing something special at Denver Seminary. I invite you to read each line with gratitude for what the Lord has done and with anticipation for what lies ahead.
In the fall of 2009, for the second year in a row, we admitted the largest incoming class in our history—not many other seminaries share that experience with us. That record entering class allowed us to achieve an all-time high in overall enrollment: 939 students fill our classrooms to the brim!
After a grim economic downturn in the fall of ’08, the Seminary board and administration took an aggressive, proactive stance to protect the school’s ongoing operations. We finished our ’08-’09 fiscal year with solid numbers that provided a stable environment moving forward. Our staff and faculty worked diligently to reduce costs and took on additional responsibilities with no increase in compensation. All gave sacrificially because they believe in this ministry. I’m humbled by their commitment to this work.
In the early months of my presidency I’ve been blessed to meet dozens of alumni, adjunct faculty, mentors, donors and friends. I’ll never forget hosting a generous supporter of the seminary in my office and hearing him say, “I only finished the ninth grade and I can’t stand in front of a group of people and tell them about Jesus. I give my money to Denver Seminary because I know that your students will do that for me.” An alumnus, who ministered for years in Ethiopia stopped by and told me that when he finished college in the 70’s, he asked Billy Graham where he should go to prepare for a lifetime of missionary service. Dr. Graham, he told me, said, “Denver Seminary.” What a blessing these and many other conversations have been.
I’m convinced that Denver Seminary will continue to build a legacy of ministry that addresses the real needs of the world with the real answers found in Scripture. May this 2009 Annual Report encourage you with the realization that God is using you to change lives through your support of Denver Seminary. I thank God for you.
In awe of Him,
 |
Mark Young
Programs
Master of Divinity Program with concentrations in:
- Biblical Studies
- Chaplaincy
- Christian Formation and Soul Care
- Intercultural Ministry
- Leadership
- Messianic Judaism
- Pastoral Counseling
- Philosophy of Religion
- Theology
- Worship
- Youth and Family Ministries
Master of Arts with a major in:
Master of Arts in:
- Christian Formation and Soul Care
- Counseling Licensure
- Counseling Ministries
- Leadership
- Youth and Family Ministries
Doctor of Ministry Program with tracks in:
- Marriage and Family Counseling
- Leadership with concentrations in:
Student Stories
Natalie Corbin, MA (Biblical Studies)
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Prior to coming to Denver Seminary the Lord had placed in my life the desire in to know His word. As time passed, this desire grew and the Lord’s call was clear. In some way I would use my words, but I had to know His word first. This is what I heard, what I followed, and what led me to discover Denver Seminary.
After learning more about the school, and gaining confirmation after confirmation from God about pursuing my education at Denver Seminary, I packed up a truck and made the journey from Germantown, Maryland to Littleton, Colorado. The next three years would be spent in study and discovery of Biblical Studies, with emphasis in the New Testament.
I hope to finish my degree in the summer of 2010. I plan to pursue writing after graduation. My hope is to produce works through God’s leading that will encourage and challenge people to explore God personally, either for the first time or in on-going pursuit of relationship with Him. Perhaps Colossians 2:2-3 sums it up best, “My purpose is that they may be encouraged in heart and united in love, so that they may have the full riches of complete understanding, in order that they may know the mystery of God, namely, Christ, in whom are hidden all treasure of wisdom and knowledge.”
As I approach the final months of my seminary education, I reflect with appreciation on the contributions this school, faculty, and staff have made to my growth as a follower of Christ. All of my professors have been outstanding educators, encouraging critical thinking about this faith. I place this in high value. Alongside the academic rigor and challenge, I am thankful for the intentional pursuit of spiritual formation Denver Seminary imparts on its students. The time I spent in my spiritual formation group, with my mentors, and navigating through my own personal growth has proven invaluable. The marriage between academics and spiritual formation makes Denver Seminary unique, and has made my experience here not only educational, but applicable.
Andrew Strutzenberg, MDiv (Theology)
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I spent the first eighteen years of my life attending the same Baptist Church. When I graduated from High School, I decided to attend a college that was founded and supported by my denomination. By the time I was 20, I had spent so much time immersed in the same Middle Class, Middle American Christianity that my faith ceased to excite me. Things began to change when I received an opportunity to spend a year in England studying Historical Theology through an honors program at my college. The study captivated me with the richness of our Christian heritage. The experience of living and worshiping in another culture impressed me with complexity of our faith and the ability of the gospel to intersect and transcend culture. I was deeply humbled by my narrow understanding of our God and His Church, and my appetite was whetted for further study.
Because of my previous experience I was afraid that attending an evangelical seminary would narrow my horizons rather than broaden them. I assumed that academic rigor would be put aside for the sake of personal piety, narrowly defined orthodoxy would suffocate personal expression and abstract theological issues would take precedent over matters of social relevance. In short, I was afraid that seminary would attempt to put me back into the box I had just broken out of. To be completely honest, the only reason I even considered Denver Seminary is because of its desirable location. However, as I did some preliminary research, I came across this statement our beloved Chancellor, Vernon Grounds made in 1951:
Here is no unanchored liberalism—freedom to think without commitment.
Here is no encrusted dogmatism—commitment without freedom to think.
Here is a vibrant evangelicalism—commitment with freedom to think within the limits laid down in Scripture.
I don’t know if I was initially more impressed by the statement or skeptical that an academic institution could really live up to such lofty ideals. Either way, I decided more investigation was necessary. When I actually visited the campus I realized just how wrong my initial assumptions were. At Denver Seminary I have experienced the vibrant evangelicalism that has been the hallmark of this institution for over half a century.
Denver Seminary has a truly diverse faculty, both ethnically and theologically. Instructors teach from a variety of cultural and denominational heritages, yet they all share basic biblical convictions. I have found this to be a dynamic learning environment where I am able to wrestle with significant theological issues within the confines of a safe and nurturing community. Classes are taught by world class scholars who are engaged in high levels of scholarship but also take their roles as educators very seriously.
This school has giving me much more than a good theological education. Through the training and mentoring program, Denver Seminary has demonstrated their commitment to my personal and spiritual development, helping to insure that my learning does not just stop at my head. And through the Grounds Institute for Public Ethics, this school has modeled practical involvement in social issues and helped me engage biblically in matters that affect society.
When my wife and I graduate next fall, we will seek to be involved in global theological education. Largely as result of our experience here at Denver Seminary, we have been given a vision for pastors and missionaries from developing countries who have taken up the cause of spreading the gospel with scarce resources and little or no formal training. Our goal is to come alongside these leaders to help them minister more effectively.
James Hyndman, DMin (Pastoral Leadership)
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As a minister of First Presbyterian Church, Saintfield, a church of about 420 families just south of Belfast in Northern Ireland, my desire has always been to be a better minister to the church and community in Saintfield. The Doctor of Ministry program is enabling me to do just that. I have been learning all along how to use what I have got, not try to be what I am not!
I came to study at Denver Seminary through a series of happy providences. I was seeking to do further study and was in Boulder, Colorado for a wedding of a former youth intern. I called Denver Seminary and was very impressed with the warm reception I received from Dr. Osborne, with the time that he took to explain the Doctor of Ministry program, and by his sincere interest in me as a leader. After exploring a number of different seminaries, I chose to apply to the Doctor of Ministry in Pastoral Leadership program at Denver Seminary and was thrilled to be accepted and begin studying.
The leadership paradigm on which the Doctor of Ministry program is structured is the most biblical and helpful model of servant leadership that I have found anywhere. I value most the personal interest, Godly example, and support of Dr. Osborne, the staff, and lecturers at Denver Seminary. The courses I have attended have been biblical, Christ centered, challenging and informative. Every course has helped deepen my walk with God, given me tools to serve Him better and encouraged me to depend on His promises more and more. I have gained some great friendships with other pastors and missionaries worldwide. Some have visited here in Ireland, and their friendship has greatly enriched my ministry. If anyone, from anywhere, is considering further study, this program should be high on their list of possibilities.
Fall 2009 Enrollment
|
Institutional Head Count: |
939 |
|
Male: |
60% |
|
Female: |
40% |
|
Average age of all students: |
33 |
|
Average hours per student: |
8.5 |
|
Married: |
60% |
|
Single: |
40% |
|
Number of International Students: |
29 |
|
MDiv: |
27% |
|
MA: |
49% |
|
D.Min: |
16% |
|
Other: |
8% |
|
IDEAL students: |
213 |
|
KLEI students: |
25 |
Our Financial Results
Financial Commentary FY 2008-2009:
The major problems in the U.S. economy created pressures on revenues and investments, however Denver Seminary began to show financial improvement in the 4th quarter of 2009. A market loss of $1,188,064 and depreciation expense of $1,250,814 resulted in the negative change in net assets. The operating Surplus before these items was $265,701.
Statement of Financial Position
|
June 30, 2009 |
||||
|
Assets |
||||
|
Cash and Cash Equivilents |
$ |
796,093 |
||
|
Accounts Receivable, Inventory, Other |
|
503,671 |
||
|
Investments |
|
6,620,768 |
||
|
Property, Plant & Equipment, net |
|
23,172,953 |
||
|
Total Assets |
$ |
31,093,485 |
||
|
|
||||
|
Liabilities and Net Assets |
||||
|
Accounts Payable and Other |
$ |
996,080 |
||
|
Deferred Revenue |
|
493,075 |
||
|
Gift Annuities and Life Income Payable |
|
1,222,986 |
||
|
Bonds and Loans Payable |
|
8,151,582 |
||
|
Total Liabilities |
$ |
10,863,723 |
||
|
|
||||
|
Net Assets |
||||
|
Unrestricted |
$ |
15,621,446 |
||
|
Temporarily Restricted |
|
431,996 |
||
|
Permanently Restricted |
|
4,176,320 |
||
|
Total Net Assets |
$ |
20,229,762 |
||
|
|
||||
|
Total Liabilities and Net Assets |
$ |
31,093,485 |
||
Statement of Activities |
|
For the Year Ended June 30, 2009 |
||||
|
Support, Revenue and Other Gains |
||||
|
Tuition and Fees, net of Scholarships |
$ |
5,671,727 |
||
|
Contributions |
|
1,917,328 |
||
|
Auxiliary Services, net of COGS |
|
966,164 |
||
|
Other Income/(Loss) |
|
(907,921) |
||
|
Total Support, Revenue and Other Gains |
$ |
7,647,298 |
||
|
|
||||
|
Expenses |
||||
|
Program |
$ |
7,657,489 |
||
|
General and Administrative |
|
1,269,543 |
||
|
Fund Raising |
|
744,838 |
||
|
Total Expenses |
$ |
9,671,870 |
||
|
|
||||
|
Change in Net Assets |
$ |
(2,024,572) |
||
|
Net Assets, Beginning of Year |
$ |
22,254,334 |
||
|
Net Assets, End of Year |
$ |
20,229,762 |
||
|
|
|
|
||
|
Endowment Value as of June 30, 2009: |
$ |
4,892,756 |
||
|
A copy of our investment policy is available upon request. |
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Our Financial Future
|
|
||
|
|
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Projected Net Income (Strategic Reserve): |
$361,683 |
|
In the first three quarters of fiscal year 2009-2010, the Seminary is running ahead by 8% in total revenues.
Faculty, Staff, and Board
|
Faculty Howard Baker Senior Professors James Beck Administration Vernon Grounds |
Board of Trustees Rick Allen Board Emeritus George Condos |
