2009-2010 Annual Report

Sioux Falls Seminary

A North American Baptist Seminary

2100 S. Summit Avenue Sioux Falls, SD 57105

Elmer & Myrtle Olthoff Family Scholarship Edmund F. & Viola C. Ost Endowment Clarence & Kay Ostercamp Memorial Scholarship Virginia Peasley Memorial UMC Scholarship Pearl Pierce International Scholarship Alice Mayhack Pohl Scholarship Dorothy Powell Memorial Fund Eugene & Erma Precheck Scholarship Roland J. & Violet R. Rolfs Memorial Scholarship Rose of Sharon Scholarship Joy Harris Sauers Memorial Scholarship Herbert & Mary Schauer Scholarship Evelyn Seib Scholarship Adel Stabbert Scholarship Grace Sturtz Memorial Scholarship Bert & Verona Terveen Scholarship Bernard Thole Endowed Scholarship Charles & Dorothy Thole Scholarship JoAnne Tschetter Memorial Scholarship Tschetter-Telker Scholarship Dr. & Mrs. H. John Vanderbeck Scholarship Frank & Otila Veninga Memorial Scholarship Charles Wagner Scholarship Fund Warren & Darlys Weeldreyer Memorial Scholarship Alfred & Eunice Weisser Christian Education Award Carl & Eva Weisser Scholarship

grant and financial aid scholarships

Alumni Association Scholarship Alfred & Melita Brachlow Scholarship Breitkreuz-Stander Scholarship Kenny Brenner Memorial Scholarship Marie Brenner Memorial Scholarship H. Scott Bridgman Family Memorial Scholarship Peggy L. Burkle Memorial Scholarship Minnie Crain Memorial Scholarship Dunger Family Endowment Jacob & Helen Ehman Scholarship Pearl Faszer Scholarship Herman & Elizabeth Fluth Memorial Scholarship Richard, Clara, & Stanley Grenz Memorial Scholarship William & Avis Heerts Scholarship Phyllis Mae Hoffman Scholarship Kenneth Jung Memorial Scholarship Dr. Katschke-Jennings Ordained Women in Ministry Scholarship Ralph & Jesse Martin Kahle Scholarship Elton O. Kirstein Scholarship F. William Knowles Scholarship Edward & Adeline Kopf Scholarship Jacob Kraenzler Memorial Scholarship Jerry Kramer Family Scholarship Gladys Kramlich Memorial Scholarship Lang Family Endowment Walter H. Larson Memorial Scholarship Ellen Lehr Scholarship Anna Leischner Memorial Scholarship Hugo Lueck Scholarship Deborah Mack Scholarship James McGladdery Scholarship Ed & Elizabeth Meister Memorial Scholarship Harry Mollhagen Scholarship

Modern-Day Paul Scholarship Minnie Pankratz Scholarship Martha Pfaff Scholarship Ruth Poerschke Fund Adam & Nellie Potratz Memorial Scholarship M. B. Potratz Memorial Scholarship Presidential Scholarship Mr. & Mrs. Elmer Pritzkau Scholarship Harley Radel Memorial Scholarship David J. Reese Memorial Scholarship Rev. O. K. Ringering Memorial Scholarship Minnie Schmertman International Missions Scholarship Esther Schultz Scholarship Josephine Schwartz Memorial Scholarship Rose Storz Living Memorial Deborah & Elvin Strickland Scholarship Herbert Sturhahn Memorial Scholarship Larry Terveen Memorial Scholarship Edwin Van Holland Scholarship Rev. E. Wolff Memorial Scholarship Mark Zimmerman Memorial Scholarship Ziulkowski Memorial Scholarship

operating endowments

Harry & Helen Arends Operating Endowment Ewald Bartel Family Endowment William & Caroline Barsh Operating Endowment Edith Baudisch Operating Endowment George & Esther Breitkreuz Operating Endowment Raymond & Edith DeNeui Endowed Chair Freda Dirksen Missions Teaching Endowment David & Betty Draewell Operating Endowment Ben Engbrecht Stewardship Endowment Fehr Family Operating Endowment Walter & Eva Gooden Operating Endowment Douglas & Bernietta Graf Operating Endowment Henry J. Hammer Operating Endowment Harris-Behm Family Chair of Biblical Studies Herman & Lucile Hildebrand Operating Endowment Herbert Hiller Lectureship in Pastoral Care MarJean Johnson Annual Fund Endowment Signie Johnson Operating Endowment Helen Steele Kannwisher Operating Endowment Ewald & Dorothy Kanwischer Operating Endowment Kapteina Family Operating Endowment Robert & Blondena Krueger Operating Endowment Flor Lindaman Operating Endowment George & Alma McCullough Operating Endowment New Generation Operating Endowment Elmer & Myrtle Olthoff Family Operating Endowment Pearl Pierce Operating Endowment Clinton & Elizabeth Reif Operating Endowment Franklin Roehrman Operating Endowment Ed & Sena Schrader Operating Endowment Esther Schultz Operating Endowment Herb & Adel Stabbert Operating Endowment Vert & Doris Voigt Operating Endowment Walter & Blanche P. Weber Operating Endowment Jack H. Weeldreyer Operating Endowment Westerman Family Operating Endowment Zimbelman Stewardship Operating Endowment

named endowment scholarships

make a new gift or increase a current one, and we’ll

Support for Sioux Falls Seminary has never had a bigger impact. That’s because, thanks to an anonymous challenge grant, your gift will be doubled!

In an effort to encourage greater investment in the ministry of the seminary, an anonymous donor couple has put forth a challenge match. The match includes all new or increased gifts to the seminary, up to $5,000 per quarter, for a total of $20,000 this fiscal year.

If you would like to see even more accomplished through your giving, send in your gift or give online at www.sfseminary.edu/contribute. Another easy option for contributing is to set up a monthly withdrawal from your check or credit card. Call 800.440.6227 or e-mail tjones@sfseminary.edu for more information.

Clara Anderson Scholarship Aplington Baptist Endowment Fund Earl Backhaus Scholarship Cecil & Bertha Bainbridge Scholarship William & Caroline Barsh Memorial Scholarship Ewald Bartel Financial Aid Endowment Edith Barton Scholarship Baudisch Endowment for Missions Training Orville & Lois Behm Scholarship Walter Bender Memorial Scholarship Bergman Family Scholarship Hanna Bertuleit Memorial Scholarship Adolph & Mary Hildebrand Bill Endowed Scholarship Herman Bleeker Memorial Scholarship Borchert Scholarship Cal & Leona Brachlow Scholarship Bert & Ruth Braun Scholarship Fund Ewald Breitkreuz Family Endowment Dale E. Burroughs Scholarship Paul & Rhoda Carpenter Scholarship Christiansen Family Scholarship Cone Endowment Scholarship Martha DeBoer Scholarship Clara DeGroot Memorial Scholarship William Harry & Ada Downs Memorial Scholarship Daniel & Hinreka Feske Scholarship First Baptist Church of Mitchell, SD, Memorial Scholarship Foerster Scholarship Alvin C. Foster Scholarship Edith A. Fox Scholarship Leland Friesen Scholarship Douglas & Bernietta Graf Scholarship Stanley Grenz Scholarship Fred A. Grosser Memorial Scholarship Carolyn Hansum UMC Memorial Scholarship William & Mary Harms Scholarship James G. Harris Memorial Scholarship George Hensel Scholarship Heringer Haas Memorial Scholarship Helling-Floren Scholarship Jacob M. & Fern A. Heringer Memorial Scholarship Charles M. Hiatt Scholarship for Church Leadership Hiatt Family Scholarship Minnie Witt Hildebrand Endowed Scholarship Jacquelyn Howell Endowed Scholarship Adam Huber Memorial Scholarship Paul & Joy Huisman Scholarship Elmer & Alvina Jucht Memorial Scholarship Kern Family Endowment Herman Kesterke Family Scholarship Otto E. Krueger Memorial Scholarship Dr. George A. & Esther Lang Memorial Scholarship Vera Leischner Gaskill Scholarship Isabelle Long & Esther Christiansen Memorial Scholarship Harold H. Luiken & Sons, Inc. Scholarship Mehlhaff Scholarship Michelson Scholarship NAB Men’s Auxiliary Scholarship NAB Seminary Women’s Auxiliary Endowment North Sheridan Baptist Church Scholarship

tuition and fees gross tuition and fees

net tuition and fees

tuition discounts 1,400,000 1,327,333

However, due to hard economic times, Sioux Falls Seminary saw a dramatic slow down of new pledges and campaign giving. This set of circumstances resulted in almost $7 million of debt on the new building, compared to an expected $2-3 million when the project began.

As a result, SFS has nearly $380,000 in annual interest costs which causes an overall projected operating deficit of $103,000. Without interest costs, projected operations would show a surplus of $277,000.

With operational costs under control, Sioux Falls Seminary is making it a priority to substantially reduce debt and decrease interest costs. Existence of the debt is the only major impediment to financial health in the seminary’s future.

2010

1,200,231

1,035,592

1,000,000

1,038,587

1,031,752

2009

943,643

800,000

2008

During the 2009-2010 fiscal year, Sioux Falls Seminary experienced hardships due to the recession but worked hard to balance day-today operations. The move to the new facility has helped SFS serve students and churches better. With the new location comes lower operational costs—an area of great need due to large operating deficits incurred in the previous facilities, which were larger and required an increasing amount of maintenance.

1,200,000

785,555

956,910

807,482

600,000

2007

optimistic for the future

1,268,100

educational and general expenses

Operational savings, made pos-

400,000 311,190

sible by the move to new facilities,

2006

summary:

are illustrated by the decrease in 500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

registrar

recruitment & financial aid

224,270

200,000

291,746

256,588

overall costs between 2009 and 2008. These savings brought the

instruction library

250,037

2006

2007

2008

2009

2010

seminary closer to operational break-even. Departmental break-

administration public relations

downs illustrate how the sav-

fundraising plant operations/maintenance

ings have impacted each area.

Tuition revenues (blue line) have increased by 29% in the last 5 years, which is approximately equal to tuition increases over that period. Net tuition (red line), which is tuition after scholarships and grants (green line), has increased by 32% in the last five years.

tuition and fees gross tuition and fees

net tuition and fees

tuition discounts 1,400,000 1,327,333

However, due to hard economic times, Sioux Falls Seminary saw a dramatic slow down of new pledges and campaign giving. This set of circumstances resulted in almost $7 million of debt on the new building, compared to an expected $2-3 million when the project began.

As a result, SFS has nearly $380,000 in annual interest costs which causes an overall projected operating deficit of $103,000. Without interest costs, projected operations would show a surplus of $277,000.

With operational costs under control, Sioux Falls Seminary is making it a priority to substantially reduce debt and decrease interest costs. Existence of the debt is the only major impediment to financial health in the seminary’s future.

2010

1,200,231

1,035,592

1,000,000

1,038,587

1,031,752

2009

943,643

800,000

2008

During the 2009-2010 fiscal year, Sioux Falls Seminary experienced hardships due to the recession but worked hard to balance day-today operations. The move to the new facility has helped SFS serve students and churches better. With the new location comes lower operational costs—an area of great need due to large operating deficits incurred in the previous facilities, which were larger and required an increasing amount of maintenance.

1,200,000

785,555

956,910

807,482

600,000

2007

optimistic for the future

1,268,100

educational and general expenses

Operational savings, made pos-

400,000 311,190

sible by the move to new facilities,

2006

summary:

are illustrated by the decrease in 500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

registrar

recruitment & financial aid

224,270

200,000

291,746

256,588

overall costs between 2009 and 2008. These savings brought the

instruction library

250,037

2006

2007

2008

2009

2010

seminary closer to operational break-even. Departmental break-

administration public relations

downs illustrate how the sav-

fundraising plant operations/maintenance

ings have impacted each area.

Tuition revenues (blue line) have increased by 29% in the last 5 years, which is approximately equal to tuition increases over that period. Net tuition (red line), which is tuition after scholarships and grants (green line), has increased by 32% in the last five years.

named endowment scholarships

make a new gift or increase a current one, and we’ll

Support for Sioux Falls Seminary has never had a bigger impact. That’s because, thanks to an anonymous challenge grant, your gift will be doubled!

In an effort to encourage greater investment in the ministry of the seminary, an anonymous donor couple has put forth a challenge match. The match includes all new or increased gifts to the seminary, up to $5,000 per quarter, for a total of $20,000 this fiscal year.

If you would like to see even more accomplished through your giving, send in your gift or give online at www.sfseminary.edu/contribute. Another easy option for contributing is to set up a monthly withdrawal from your check or credit card. Call 800.440.6227 or e-mail tjones@sfseminary.edu for more information.

Clara Anderson Scholarship Aplington Baptist Endowment Fund Earl Backhaus Scholarship Cecil & Bertha Bainbridge Scholarship William & Caroline Barsh Memorial Scholarship Ewald Bartel Financial Aid Endowment Edith Barton Scholarship Baudisch Endowment for Missions Training Orville & Lois Behm Scholarship Walter Bender Memorial Scholarship Bergman Family Scholarship Hanna Bertuleit Memorial Scholarship Adolph & Mary Hildebrand Bill Endowed Scholarship Herman Bleeker Memorial Scholarship Borchert Scholarship Cal & Leona Brachlow Scholarship Bert & Ruth Braun Scholarship Fund Ewald Breitkreuz Family Endowment Dale E. Burroughs Scholarship Paul & Rhoda Carpenter Scholarship Christiansen Family Scholarship Cone Endowment Scholarship Martha DeBoer Scholarship Clara DeGroot Memorial Scholarship William Harry & Ada Downs Memorial Scholarship Daniel & Hinreka Feske Scholarship First Baptist Church of Mitchell, SD, Memorial Scholarship Foerster Scholarship Alvin C. Foster Scholarship Edith A. Fox Scholarship Leland Friesen Scholarship Douglas & Bernietta Graf Scholarship Stanley Grenz Scholarship Fred A. Grosser Memorial Scholarship Carolyn Hansum UMC Memorial Scholarship William & Mary Harms Scholarship James G. Harris Memorial Scholarship George Hensel Scholarship Heringer Haas Memorial Scholarship Helling-Floren Scholarship Jacob M. & Fern A. Heringer Memorial Scholarship Charles M. Hiatt Scholarship for Church Leadership Hiatt Family Scholarship Minnie Witt Hildebrand Endowed Scholarship Jacquelyn Howell Endowed Scholarship Adam Huber Memorial Scholarship Paul & Joy Huisman Scholarship Elmer & Alvina Jucht Memorial Scholarship Kern Family Endowment Herman Kesterke Family Scholarship Otto E. Krueger Memorial Scholarship Dr. George A. & Esther Lang Memorial Scholarship Vera Leischner Gaskill Scholarship Isabelle Long & Esther Christiansen Memorial Scholarship Harold H. Luiken & Sons, Inc. Scholarship Mehlhaff Scholarship Michelson Scholarship NAB Men’s Auxiliary Scholarship NAB Seminary Women’s Auxiliary Endowment North Sheridan Baptist Church Scholarship

Elmer & Myrtle Olthoff Family Scholarship Edmund F. & Viola C. Ost Endowment Clarence & Kay Ostercamp Memorial Scholarship Virginia Peasley Memorial UMC Scholarship Pearl Pierce International Scholarship Alice Mayhack Pohl Scholarship Dorothy Powell Memorial Fund Eugene & Erma Precheck Scholarship Roland J. & Violet R. Rolfs Memorial Scholarship Rose of Sharon Scholarship Joy Harris Sauers Memorial Scholarship Herbert & Mary Schauer Scholarship Evelyn Seib Scholarship Adel Stabbert Scholarship Grace Sturtz Memorial Scholarship Bert & Verona Terveen Scholarship Bernard Thole Endowed Scholarship Charles & Dorothy Thole Scholarship JoAnne Tschetter Memorial Scholarship Tschetter-Telker Scholarship Dr. & Mrs. H. John Vanderbeck Scholarship Frank & Otila Veninga Memorial Scholarship Charles Wagner Scholarship Fund Warren & Darlys Weeldreyer Memorial Scholarship Alfred & Eunice Weisser Christian Education Award Carl & Eva Weisser Scholarship

grant and financial aid scholarships

Alumni Association Scholarship Alfred & Melita Brachlow Scholarship Breitkreuz-Stander Scholarship Kenny Brenner Memorial Scholarship Marie Brenner Memorial Scholarship H. Scott Bridgman Family Memorial Scholarship Peggy L. Burkle Memorial Scholarship Minnie Crain Memorial Scholarship Dunger Family Endowment Jacob & Helen Ehman Scholarship Pearl Faszer Scholarship Herman & Elizabeth Fluth Memorial Scholarship Richard, Clara, & Stanley Grenz Memorial Scholarship William & Avis Heerts Scholarship Phyllis Mae Hoffman Scholarship Kenneth Jung Memorial Scholarship Dr. Katschke-Jennings Ordained Women in Ministry Scholarship Ralph & Jesse Martin Kahle Scholarship Elton O. Kirstein Scholarship F. William Knowles Scholarship Edward & Adeline Kopf Scholarship Jacob Kraenzler Memorial Scholarship Jerry Kramer Family Scholarship Gladys Kramlich Memorial Scholarship Lang Family Endowment Walter H. Larson Memorial Scholarship Ellen Lehr Scholarship Anna Leischner Memorial Scholarship Hugo Lueck Scholarship Deborah Mack Scholarship James McGladdery Scholarship Ed & Elizabeth Meister Memorial Scholarship Harry Mollhagen Scholarship

Modern-Day Paul Scholarship Minnie Pankratz Scholarship Martha Pfaff Scholarship Ruth Poerschke Fund Adam & Nellie Potratz Memorial Scholarship M. B. Potratz Memorial Scholarship Presidential Scholarship Mr. & Mrs. Elmer Pritzkau Scholarship Harley Radel Memorial Scholarship David J. Reese Memorial Scholarship Rev. O. K. Ringering Memorial Scholarship Minnie Schmertman International Missions Scholarship Esther Schultz Scholarship Josephine Schwartz Memorial Scholarship Rose Storz Living Memorial Deborah & Elvin Strickland Scholarship Herbert Sturhahn Memorial Scholarship Larry Terveen Memorial Scholarship Edwin Van Holland Scholarship Rev. E. Wolff Memorial Scholarship Mark Zimmerman Memorial Scholarship Ziulkowski Memorial Scholarship

operating endowments

Harry & Helen Arends Operating Endowment Ewald Bartel Family Endowment William & Caroline Barsh Operating Endowment Edith Baudisch Operating Endowment George & Esther Breitkreuz Operating Endowment Raymond & Edith DeNeui Endowed Chair Freda Dirksen Missions Teaching Endowment David & Betty Draewell Operating Endowment Ben Engbrecht Stewardship Endowment Fehr Family Operating Endowment Walter & Eva Gooden Operating Endowment Douglas & Bernietta Graf Operating Endowment Henry J. Hammer Operating Endowment Harris-Behm Family Chair of Biblical Studies Herman & Lucile Hildebrand Operating Endowment Herbert Hiller Lectureship in Pastoral Care MarJean Johnson Annual Fund Endowment Signie Johnson Operating Endowment Helen Steele Kannwisher Operating Endowment Ewald & Dorothy Kanwischer Operating Endowment Kapteina Family Operating Endowment Robert & Blondena Krueger Operating Endowment Flor Lindaman Operating Endowment George & Alma McCullough Operating Endowment New Generation Operating Endowment Elmer & Myrtle Olthoff Family Operating Endowment Pearl Pierce Operating Endowment Clinton & Elizabeth Reif Operating Endowment Franklin Roehrman Operating Endowment Ed & Sena Schrader Operating Endowment Esther Schultz Operating Endowment Herb & Adel Stabbert Operating Endowment Vert & Doris Voigt Operating Endowment Walter & Blanche P. Weber Operating Endowment Jack H. Weeldreyer Operating Endowment Westerman Family Operating Endowment Zimbelman Stewardship Operating Endowment

Sioux Falls Seminary

A North American Baptist Seminary

2100 S. Summit Avenue Sioux Falls, SD 57105