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TABLE OF CONTENTS
REFERENCES
Letter from the President
What OC is doing
3
A look back at 2007
4
Asia
7-8
Europe
9-10
Latin America
Middle East
11-12
13-14
Graduate stories
1 Philip Jenkins. The Next Christendom: The Coming of Global Christianity. (Oxford: Oxford
Univ. Press, 2001), 3.
2 All population data is drawn from the CIA Worldfactbook (www.cia.gov/cia/publications/
factbook) with population estimations for July 2005. Projected population growth is drawn
from the US Census Bureau’s International Data Base (www.census.gov/ipc/www/idb).
Religion figures drawn from Operation World (Evangelical figures).
Ephesians 3:20-21 –
“Now to Him who is
able to do immeasurably
more than all we ask
or imagine, according
to His power that is at
work within us, to
Him be glory in the
church and in Christ
Jesus throughout all
generations, forever
and ever! Amen.”
5-6
Africa
AFRICA
2
15
Presidents’ Institute highlight
Institute testimonials
17
Financial perspective
18-19
How you can partner
20-21
16
ASIA
3
All population data is drawn from the CIA Worldfactbook (www.cia.gov/cia/
publications/factbook) with population estimations for July 2005. Projected population
growth is drawn from the US Census Bureau’s International Data Base (www.census.
gov/ipc/www/idb). Data on evangelicals from Patrick Johnstone, Operation World: 21st
Century Edition (2001).
4 Johnstone.
EUROPE
5
All population data is drawn from the CIA Worldfactbook (www.cia.gov/cia/publications/
factbook) with population estimations for July 2005. Projected population growth is drawn
from the US Census Bureau’s International Data Base (www.census.gov/ipc/www/idb).
Data on churches is drawn from both Operation World and the World Christian Database.
MIDDLE
EAST
6
World Christian Encyclopedia. “Total of Hidden Muslim Believers in Christ.”
LETTER FROM THE PRESIDENT
Dear Overseas Council
partners and friends,
Greetings from Indianapolis. As 2007 has come to an end
and 2008 comes into full swing, let me thank you for your
prayers and partnership in the year just ended.
OC begins 2008 at a place of blessing. We’ve made some hard calls to get where
we are. As a result, we’ve made real headway in becoming the kind of organization
that can steward larger blessing than we have known thus far.
Our decisions regarding international partnerships are driven by values and
research. Our advancement team works a program, incrementally, persistently
and energetically. People find us credible. We have a lean headquarters staff
with regional experts positioned near the seminaries we are supporting. We are
beginning to see new donors. Our operating and fundraising costs have been
sharply reduced. Our income stream is improving. We are seeing the beginning
of the results we’ve wished for. Even as we push towards excellence in all that
we do, we are aware that it is the Lord who will bring about the effective
ministry we desire.
As I see things, we are a promising institution that is discovering how to survive
and thrive in the nonprofit world as custodians of a valuable vision and mission.
We thank God for your partnership and your interest in advancing Christian
leaders worldwide!
Every blessing,
David A. Baer, PhD
President and CEO
2
WHAT OC IS DOING
A LOOK BACK AT 2007
See God’s impact through
the OC ministry in 2007:
faculty and
1500 Student,
staff scholarships
$1 million +
Impacting 87 partner institutions,
52 countries and 5 regions
Educational
35,000
9
Resource projects
Students training
107
3
Overseas Council (OC) partners with seminaries, Bible institutes and other
strategic ministries by leveraging people, expertise and resources to advance
quality Christian leadership training, thus empowering churches around the
world to fulfill the Great Commission of the Lord Jesus Christ.
OC pursues its mission in Africa, Asia, Europe, Latin America and the
Middle East by:
Providing
■ Student and faculty scholarship
assistance to emerging Christian
leaders around the world
■ Improved and expanded library
resources in both English and
primary educational languages,
library equipment and Internet access
■ Local and regional ministry training
infrastructures and leadership
consultations, utilizing International
Regional Directors and the Institute
for Excellence in Christian
Leadership Development
11
Facilitating
■ Major funding for construction of
student/faculty housing, classrooms, offices, existing structure
renovations and land acquisitions
Mobilizing
■ Individuals, foundations and
churches in North America for
prayer, financial partnership and
commitment to the ministry around
the world
1
worldwide
Partner
institutions
in 5 regions
Africa – 34 schools
Asia – 33 schools
Europe – 15 schools
Latin America – 18 schools
Middle East – 7 schools
Campus
Development
projects
$3.7 million+
Such as ESEPA-Costa
Rica’s four-story
Theological Research
Center, featuring a
library, computer lab,
seminar rooms, prayer
chapel, classrooms,
recording studio, student
lounge, kitchen,
child care center and
air conditioning
Senior
Consultant
Offering Leadership
Consultation in China
$52,000+
Such as JETS-Jordan’s upgraded server to
meet current network needs; SATS-Brazil’s
theological pastoral training materials;
BBC-West Bank’s books and maps on CD,
including Arabic texts and reference books,
and Arabic periodical subscriptions; and
CTE-Moldova’s teaching materials on
DVD/CD and computer software
Regional Directors
4 International
4
Offering Leadership Consultation in
Africa, Asia, Europe, Latin America
and the Middle East
for Excellence
11 Institutes
in Christian Leadership
Development
Impacting 453 senior leaders, 181 partner
institutions and 91 countries. 2007’s
Institutes were held in Lebanon, Poland,
Ukraine, Argentina, Colombia, Togo,
Kenya, South Africa, Philippines and Sri
Lanka with the theme “Excellence
in Finances.”
Total ministry
funding for
fiscal year 2007
$10million+
AFRICA
Regional overview
OC’s work in Africa
Today, slightly more than 11% of the world’s
population resides in Africa. By 2025, Africa will
be the world’s most Christian continent with an
anticipated 633 million Christians.1 Home to 689
million people, Africa’s population is growing
rapidly and will top one billion by 2030.2 While Africa
faces some of the greatest problems in the world
in the form of poverty, inequality, disease and
conflict, there is hope in Africa. The Christian
Church is poised to exercise great influence
on the continent. What this influence includes
will largely be determined by the kinds of men
and women who lead the Church. OC’s African
partners are finding new and creative ways to
train leaders for African realities, from rural
ministry to senior theological leadership.
OC’s partners in Africa have been
hard at work, investing time, talent
and treasures in many ways.
5
A snapshot of projects in Africa
EGST
TECT
ESSA
JETSN
BEST
MGST
Ethiopia’s multi-purpose Campus
Development project
South Africa’s education center
Central Africa Republic’s
Center of Islamic Studies
Sierra Leone’s
women’s dormitory
Nigeria’s doctoral program
and library development
Mozambique’s Master
of Divinity program
Africa partner school list (as of March 2008)
ANGOLA ETSL – Evangelical Theological Seminary of Lubango
CENTRAL AFRICA REP. BEST – Bangui Evangelical School of Theology
CHAD ESTES – ESTES School of Evangelical Theology
CONGO PTSB – Protestant Theological Seminary of Brazzaville
COTE D’IVOIRE FATEAC – Alliance Seminary of West Africa
DEM. REP. OF CONGO SUB – Shalom University of Bunia
ETHIOPIA EGST – Ethiopian Graduate School of Theology
ETHIOPIA ETC – Evangelical Theological College
ETHIOPIA MYTS – Mekane Yesus Theological Seminary
GHANA GCU – Ghana Christian University
KENYA ICM – International Christian Ministries
KENYA KHBC – Kenya Highlands Bible College
KENYA NEGST – Nairobi Evangelical Graduate School of Theology
KENYA NIST – Nairobi International School of Theology
KENYA STC – Scott Theological College
LIBERIA LBTS – Liberia Baptist Theological Seminary
MOZAMBIQUE MGST – Mozambique Graduate School of Theology
NAMIBIA NETS – Namibia Evangelical Theological Seminary
NIGERIA ETSI – ECWA Theological Seminary - Igbaja
NIGERIA JETSN – Jos ECWA Theological Seminary
NIGERIA NBTS – Nigerian Baptist Theological Seminary
SIERRA LEONE TECT – The Evangelical College of Theology
SOUTH AFRICA ASM – Africa School of Missions
SOUTH AFRICA BISA – Bible Institute of South Africa
SOUTH AFRICA CCC – Cornerstone Christian College
SOUTH AFRICA CTBS – Cape Town Baptist Seminary
SOUTH AFRICA ESSA – Evangelical Seminary of Southern Africa
SOUTH AFRICA GWC – George Whitefield College
SOUTH AFRICA SATSSA – South African Theological Seminary
TOGO WABAST – West African Baptist Advanced School of Theology
UGANDA KEST – Kampala Evangelical School of Theology
ZAMBIA JMTC – Justo Mwale Theological College
ZAMBIA TCCA – Theological College of Central Africa
ZIMBABWE TCZ – Theological College of Zimbabwe
6
ASIA
Regional overview
OC’s region of Asia is home to nearly
OC’s work in Asia
OC’s partners in Asia have had a busy year and are making
great impact for the Kingdom.
55% of the world’s population, or 3.6
billion people.3 China is the world’s
One highlight of the year was the
addition of Wilson Chow, OC Senior
Consultant for China.
most populous nation, accounting for
1.3 billion of this number. The Asian
region is home to many religions, including most of the world’s Hindus, hundreds of
millions of Buddhists and more than half of the world’s Muslims. Protestants in Asia
number 55-60 million with the largest concentrations in India, the Philippines,
Indonesia and South Korea.4 Statistics vary widely, but it appears that estimates of
an additional 80-100 million Christians in China may be realistic as well. Christianity is
experiencing strong growth throughout the Asian region. There are hundreds of
established leadership training centers in the region, some with more than 100 years of
7
history. Yet the need for new paradigms of leadership training is great. OC’s partners in
Asia are at the forefront of preparing leaders for the Asian Church in the 21st century.
Asia partner school list
A brief look at projects in Asia
ABSI, SBS and CTS
UBS
AGS
ATS
India and Sri Lanka’s Campus
Development projects
Philippines’ fourteen
innovative centers and
Master of Ministry modular
degree program
India’s new residential
building
Philippines’ property
purchase and
building project
(as of March 2008)
BANGLADESH CCTB – College of Christian Theology Bangladesh
CAMBODIA PPBC – Phnom Penh Bible College
CHINA CGSTHK – China Graduate School of Theology
CHINA CMS – Chinese Mission Seminary
CHINA MBI – Macau Bible Institute
INDIA ABSI – Allahabad Bible Seminary
INDIA CTC – Clark Theological College
INDIA MTSC – Madras Theological Seminary and College
INDIA NTC – New Theological College
INDIA SAIACS – South Asia Institute of Advanced Christian Studies
INDIA SBS – Shalom Bible Seminary
INDIA TAFTEE – TAFTEE
INDIA UBS – Union Biblical Seminary
INDONESIA ETSIJ – Evangelical Theological Seminary of Indonesia - Jakarta
INDONESIA IBI – Indonesian Bible Institute
INDONESIA NBS – Nusantara Bible Seminary
INDONESIA TBSI – Tyrannus Bible Seminary
MALAYSIA MBS – Malaysia Bible Seminary
MYANMAR MEGST – Myanmar Evangelical Graduate School of Theology
PAKISTAN ZBI – Zeraphath Bible Institute
PAPUA NEW GUINEA CLTC – Christian Leaders Training College
PHILIPPINES AGS – Alliance Graduate School
PHILIPPINES AGST – Asia Graduate School of Theology
PHILIPPINES ATS – Asian Theological Seminary
PHILIPPINES BSOP – Biblical Seminary of the Philippines
PHILIPPINES IGSL – International Graduate School of Leadership
SINGAPORE SBC – Singapore Bible College
SINGAPORE TTC – Trinity Theological College
SOUTH KOREA HTS – Hapdong Theological Seminary
SOUTH KOREA * STU – Seoul Theological University
SRI LANKA CTS – Colombo Theological Seminary
SRI LANKA LBCS – Lanka Bible College and Seminary
TAIWAN CES – China Evangelical Seminary
THAILAND BBCS – Bangkok Bible College and Seminary
VIETNAM IBT – Institute of Bible and Theology
* Indicates Honorary Status
8
EUROPE
Regional overview
9
OC’s region of Europe encompasses
Europe and the republics of the former
Soviet Union in the Caucasus and
Central Asia. It is the only region of
the world where the population is
shrinking. The entire region is home to 419 million people, and by 2030, this
number will shrink slightly to 413 million. The demographic drop will be sharpest in
Russia and Ukraine. Meanwhile, the population of Central Asia and other
Muslim areas will rise considerably.5 The region includes countries like Germany
and Hungary with centuries-old seminaries, as well as countries like Azerbaijan
where the first steps toward Christian leadership training
are being taken. Throughout the
continent, institutions are
struggling to find ways to
provide training that is
accessible and beneficial
to the Church. OC’s partners
are at the forefront of this effort.
OC’s work in Europe
OC’s partners in Europe
are on the move to
reach others for
Christ, and 2007
proved no different.
Some exciting projects in Europe
NSTS
KETC
CTE
DCU, KCU, OTS, UETS
and ZBCS
Serbia’s Campus
Development project
Moldova’s property
purchases and new
chapel project
OTS
Russia’s building renovation
Ukraine’s 2nd annual
Theological Forum for Evangelical
Schools, organized by this partnership
Ukraine’s new modular
training programs and
dormitory building project
Europe partner school list (as of March 2008)
BULGARIA BETI – Bulgarian Evangelical Theological Institute
SERBIA NSTS – Novi Sad Theological Seminary
CROATIA ETS – Evangelical Theological Seminary
SLOVAKIA DETM – Department of Evangelical Theology and Mission
CZECH REPUBLIC ETSP – Evangelical Theological Seminary of Prague
UKRAINE DCU – Donetsk Christian University
CZECH REPUBLIC IBTS – International Baptist Theological Seminary
UKRAINE KCU – Kiev Christian University
MOLDOVA CTE – College of Theology and Education
UKRAINE OTS – Odessa Theological Seminary
POLAND EST – Evangelical School of Theology
UKRAINE UETS – Ukrainian Evangelical Theological Seminary
RUSSIA KECU – Kuban Evangelical Christian University
UKRAINE ZBCS – Zaporozhye Bible College and Seminary
RUSSIA SPCU – St. Petersburg Christian University
10
LATIN AMERICA
Regional overview
OC’s work in Latin America
OC’s region of Latin America includes the
OC’s partners in Latin America are committed to the
Lord’s work in their growing region.
Spanish, Portuguese, English and Frenchspeaking nations from Mexico and the Caribbean
southward. Latin America is home to more than
A glimpse into projects in Latin America
550 million people. The population is anticipated
to grow by 25% in the next 25 years. After several
decades in which portions of the region
experienced civil wars and authoritarian government, the vast majority of Latin
Americans now live in relatively stable democracies. The global economic
import of huge nations like Brazil and Mexico and resource-rich
nations like Venezuela will continue
to grow in the 21st century. The
11
growth of the Hispanic, Brazilian
and Caribbean populations in North
ESEPA
BSC
SATS
SEMISUD
Costa Rica’s new Theological
Research Center
Brazil’s lay leadership
training program
Colombia’s Bible
Institute Network
Ecuador’s new Urban Mission
and Social Development building
STEP
Haiti’s multiple efforts to address
major societal challenges
America and their interaction with
their homelands will continue to blur
lines in the Western Hemisphere.
Latin America partner school list (as of March 2008)
ARGENTINA FIET – FIET Theological Institute
ARGENTINA IBBA – Buenos Aires Bible Institute
BRAZIL EMC – Evangelical Missions Center
BRAZIL FATEV – Faculty of Evangelical Theology in Curitiba
BRAZIL SATS – South American Theological Seminary
BRAZIL SPBTS – São Paulo Baptist Theological Seminary
BRAZIL WOL – Word of Life Seminary
COLOMBIA BSC – University Foundation Biblical Seminary of Colombia
COSTA RICA ESEPA – Evangelical Seminary for Pastoral Education
CUBA NPS – New Pines Seminary
ECUADOR ABSE – Alliance Biblical Seminary
ECUADOR SEMISUD – South American Ministerial Seminary
GUATEMALA CATS – Central American Theological Seminary
HAITI STEP – Evangelical Theological Seminary of Port-au-Prince
JAMAICA CGST – Caribbean Graduate School of Theology
MEXICO PBS – Puebla Bible Seminary
PERU ESL – Evangelical Seminary of Lima
VENEZUELA ESC – Evangelical Seminary of Caracas
12
MIDDLE EAST
OC’s work in the Middle East
Regional overview
OC’s region of the Middle East encompasses the
Arabic-speaking nations of the Middle East and
ArabicNorth Africa, as well as Sudan, Turkey, Iran,
Israel and Afghanistan. Unlike many other
regions of the world, religion is the main
defining characteristic of this region, namely
the dominance of Islam. More than 90%
of the population (439 million) is Muslim.
Despite the dominance of Islam, strong and
ancient communities of Christians
exist throughout the region. While these
churches based in the ancient Christian
population of the Middle East function
OC’s partners in the Middle East are making great
strides in the face of extreme opposition and the
dominance of Islam.
A few projects in the Middle East
BBC
West Bank’s new student center
and extension training programs
ETSC
Egypt’s Center for Middle
East Christianity and campus
remodeling
openly in most parts of the Middle East, churches
13
made up of converts from Islam face continual challenges. In most countries,
legal penalties for religious conversion make public declaration of faith nearly
impossible. Even in relatively open nations like Lebanon, social and family
pressures make open conversion difficult or impossible. Despite these difficulties, it
is estimated that the “Hidden” Christian population in the region is
growing and now numbers nearly 200,000.6
Middle East partner school list (as of March 2008)
EGYPT ETSC – Evangelical Theological Seminary in Cairo
JORDAN JETS – Jordan Evangelical Theological Seminary
JORDAN PTEE – Program for Theological Education by Extension
LEBANON ABTS – Arab Baptist Theological Seminary
SUDAN NTCS – Nile Theological College
UNITED KINGDOM ELAM – Elam College
WEST BANK BBC – Bethlehem Bible College
14
GRADUATE STORIES
See what some
graduates are doing to
reach others for Christ
Unique Presidents’
Institute held in
Frankfurt, Germany
■ A graduate* of Evangelical Theological
Seminary in Cairo (ETSC), Egypt, founded a ministry offering support groups
for people needing recovery from abuse, violence and other life difficulties;
has authored and translated several books; and is part of a team producing a
television program on a popular Arabic Christian channel, the first of its kind
with support group members sharing their experiences.
The Presidents’ Institute for
Excellence in Christian Leadership
Development held in September 2007
was a unique event in the history of
OC. 108 presidents and senior leaders
representing 85 OC partner schools in 55
countries across five continents came
together to consider the future of evangelical theological education worldwide.
OC leaders and Board members, international experts and senior leaders in
each region spoke on the issue.
■ Marek Kurkierewicz [Evangelical School of Theology (EST) – Poland] is the
director of discipleship and mentoring at EST; director of Samaritan Purse
outreach, ministering to thousands of poor children at Christmas; and started
a fellowship that mentors to approximately 100,000 students of the various
universities and colleges in Wroclaw.
15
PRESIDENTS’ INSTITUTE HIGHLIGHT
■ Alberto Rizzo [Buenos Aires Bible Institute (IBBA) – Argentina] is a Baptist
minister and well-known international lecturer who has planted more than
20 daughter churches in Argentina and Peru.
■ A graduate* of Bethlehem Bible College (BBC), West Bank, pastors the only
evangelical church in the Gaza Strip and serves as director and teacher of BBC’s
Gaza extension branch.
■ Eduardo Paz [Central American Theological Seminary
(CATS) – Guatemala] is the first evangelical
(CATS
chaplain ever allowed to work with the
Guatemalan national police force, a
25,000-member unit.
If each of these stories
is the average impact
of one graduate,
imagine the impact of the
35,000 students
training worldwide.
*Names kept confidential for security purposes.
The Institute also marked an important transition in OC’s leadership as
Dr. Manfred Kohl retired as Vice President of International Development.
Jason Ferenczi became the new Vice President of International Partnerships,
and Dr. Scott Cunningham became the new Dean of Leadership Development.
The Institute for Excellence is an
international forum developed by
OC to strengthen leadership skills
and organizational expertise for
presidents, deans and other senior
administrators at partner schools.
Since the first Institute in 1999,
more than 1,100 leaders
representing 217 schools in 90
countries have participated.
16
INSTITUTE TESTIMONIALS
2005
2006
2007
Total Support and Revenue
$ 4,980
$ 6,519
$ 6,159
$ 11,609
$ 10,033
Program Service Expense
$ 4,324
$ 4,711
$ 4,908
$ 7,210
$ 7,006
$ 458
$ 589
$ 551
$ 739
$ 1,368
General and Administrative
Expense
Fund Raising Expense
Total Assets
$ 873
$ 906
$ 823
$ 1,113
$ 791
$ 1,351
$ 1,685
$ 1,603
$ 4,164
$ 5,056
Change in Net Assets
$ (675)
$ 313
$ (123)
$ 2,547
$ 868
Total Net Assets
$ 1,289
$ 1,602
$ 1,479
$ 4,026
$ 4,894
8.1%
9.5%
8.8%
17.5%
13.9%
13.4%
General and Administrative
Expense (1)
Fund Raising Expense (2)
Units are measured in thousands.
15%
9.6%
F und R7.9%
ai s i ng
9%
Pr o g r am
%
(1) General and Administrative expenses are shown as76
a percentage
of Total Functional Expense.
(2) Fund Raising Expenses are shown as a percentage of Total Support and Revenue.
(3) The above information was compiled from audited financial statements that are available upon request.
4000
3000
Total Support
Revenue 2007
500
Fund R ai s i ng
9%
0
8000
7000
3500
0
Contributions
6000
0
20 0 7
2 00 6
1000
2 00 5
2 00 5
2000
1000
2007
Year-End Net Assets
3000
2 0 04
0
2 003
2000
2 00 4
3000
20 07
2 00 6
4000
2000
0
4000
Units are measured in thousands.
5000
1000
3000
Grants
5000
7000
2 00 5
1000
0
C o nt r i bu t i on s
3 6%
2004
2000
500
8000
4000
3000
2 00 3
1000
5000
20 06
4000
1500
2007
2000
2006
5000
2005
2500
2004
6000
2003
3000
O t h er
3%
2007
7000
2006
8000
2 00 3
G ra nts
61%
200 5
0
0
3500
2000
1000
500
4000
3000
20 05
2 007
2 006
2 005
■ January 14-18: Cairo, Egypt – ETSC - 25 participants, 13 schools, 8 countries
2 0 04
1000
4000
2 0 03
1500
2 006
5000
2500
2000
Contributions
36%
6000
3000
200 7
4000
2008 Institute schedule
Other
3%
2007
1000
2006
1500
2005
2000
2004
2500
A d m ini s t r a t io n
G r an t s
15 %
61%
Pr o gr a m
76%
18
3500
Total Functional Expenses 2007
Rev. Abu M. Conteh, Principal, The Evangelical College of
Theology (TECT), Sierra Leone.
■ February 18-22: Prague, Czech Republic – IBTS - 19 participants, 13 schools, 15 countries
■ March 10-14: St. Petersburg, Russia – SPCU
■ April 7-11: São Paulo, Brazil – WOL
■ May 5-9: Guatemala City, Guatemala – CATS
■ July 21-25: Accra, Ghana – GCU
■ September 8-12: Addis Ababa, Ethiopia – ETC
■ October 6-10: Klang, Malaysia – MBS
■ October 13-17: Johannesburg, South Africa – SATSSA
■ November 3-7: Pune, India – UBS
A d mi ni s t r14.9%
a t io n
8.2%
200 4
17
“My time with colleagues in Frankfurt is an
experience I will not forget...I am grateful to all
of you because that meeting has helped me with
how to relate with colleagues and staff and how
to lead. It also helped me to know that I am not
alone in training leaders for the Church,” says
2004
2004
Former Director, Ethiopian Graduate School of
Theology ((EGST), Ethiopia.
2003
Five Year Financials
2003
“The Frankfurt Institute was so wonderful,
challenging, thought-provoking and educational.
The fellowship was memorable. I was really
blessed and refreshed,” remarks Dr. Debela Birri,
As of September 30
2003
Dr. Peter Kuzmic, President, Evangelical Theological
Seminary (ETS), Croatia.
2007 Financials At-A-Glance
2003
“Emphasis on excellence, planning and
vision-casting empowers our educational institutions
to produce the kind of servant-leaders that will
be transformation agents for the Kingdom of
God and the kingdoms of the world,” notes Prof.
FINANCIAL PERSPECTIVE
FINANCIAL PERSPECTIVE
HOW YOU CAN PARTNER
Current project needs
Statement of Financial Position
Assets
As of September 30
2005
2006
2007
$ 258
$ 2,376
$ 4,443
$ 36
$ 1,390
$ 39
–
$8
$ 10
Current Assets
■ Cash and Cash Equivalents
■ Investments
■ Accounts Receivable
■ Contributions Receivable - net
■ Individuals
■ Foundations
■ Prepaid Expenses
Current Assets Total
$ 31
$ 52
$ 69
$ 1,021
–
–
$ 36
$ 54
$ 46
$ 1,382
$ 3,880
$4,607
Endowment Investments
$ 183
$ 209
$ 270
Furniture and Equipment
$ 38
$ 74
$ 179
$1,603
$4,163
$5,056
Total Assets
Each year, OC attempts to raise
financial resources for selected
priority projects at its 100+ partner
seminaries and Bible institutes in
Africa, Asia, Europe, Latin America
and the Middle East.
We could not do what we do without
the prayers, financial support and
involvement of our partners. We pray
you’ll consider partnering with our ministry.
■ Two key $1,000-$10,000 projects
■ Mozambique Graduate School of Theology (MGST), Mozambique –
Master’s program student scholarships
■ Asia Graduate School of Theology (AGST), Philippines –
Record centralization software
■ Student and Faculty Scholarship Assistance – $1.4 million
■ $1200/student scholarship through the 1:10:100 Plan
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2005
2006
2007
■ Accounts Payable
$ 55
$ 60
$ 89
■ Accrued Expenses
$ 66
$ 75
$ 70
Liabilities and Net Assets
Current Liabilities
$1
$1
$1
$2
$2
$2
$ 124
$ 138
$ 162
$ 593
$ 539
$488
■ Temporarily Restricted
$ 719
$ 3,319
$ 4,238
■ Permanently Restricted
$ 166
$ 168
$ 168
$ 1,478
$ 4,026
$ 4,894
$1,602
$4,164
$5,056
■ Current portion of annuities payable
Present value of annuities payable
Total Liabilities
Net Assets
■ Unrestricted
Total Net Assets
Total Liabilities and Net Assets
Units are measured in thousands.
(1) The above information was compiled from audited financial statements that are available upon request.
■ $1/day = $30/month = $360/year + 3 other individuals = 1 student scholarship
■ $10/month = $120/year + 10 other individuals = 1 student scholarship
■ $100/month = $1200/year = 1 student scholarship
■ Faculty and staff scholarship opportunities available as well
■ Campus Development – $5.7 million
Two examples:
■ Ethiopian Graduate School of Theology (EGST), Ethiopia –
New multi-purpose campus
As the only graduate level seminary in the country, this project will allow
EGST’s enrollment and program offerings to grow, provide income
through event rental space and strengthen their role as a center for the
area’s Christian community. EGST hopes to occupy the new campus by
late 2008.
■ Novi Sad Theological Seminary (NSTS), Serbia – New campus
Currently operating in four locations, NSTS needs a campus for both its
ministry operations and to be officially registered as a school with the
Serbian government and fully accredited. The funds to purchase land
have already been provided by an OC donor. NSTS hopes to complete the
facility by the 2009-10 academic year.
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HOW YOU CAN PARTNER
■ Educational Resources – $300,000 ($5,000 each for 60 schools)
■ Up-to-date resources
■ Reliable Internet access
■ Program-specific materials (PhD and MTh)
■ Regionally-relevant books
■ Electronic resources and online journal subscriptions
■ English and first language library resources
■ Translation applications
■ Updated equipment, such as computers and solar panels
■ Cataloguing systems and library management tools
■ Other projects – $537,000
For a complete list, visit our website at www.overseas.org and click
on Current Project Needs.
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