Financial Report “The harvest is plentiful but the workers are few.

Ask the Lord of the harvest, therefore,

to send out workers into his harvest field.”
ATS EXPRESSES GRATITUDE TO PARTNERS IN EQUIPPING LEADERS (Matthew 9:37-38)

Asian Theological Seminary partners with various churches, organizations and individuals to properly fund its operations.
In previous years, almost 60% of ATS' funding came from these partners to support the General Fund and special ATS Mission 2007
designations like, student scholarships, the Library, Project 8-30 and other initiatives. A current report from the Business
Office shows the total donations received for fiscal year 2006-2007 was Php17,421,351.00 (US$409,914.14). The ATS
Community is grateful to God for all of you who serve as partners in ministry!
To glorify God by providing quality theological education
for Christian leaders to effect Biblical transformation
EQUIPPING
LEADERS
annual report
in the Church and societies in Asia and beyond. A special edition of InTouch Newsletter
TO REACH Asian Theological Seminary
ASIAN THEOLOGICAL SEMINARY, INC.
REVENUE FINANCIAL STATEMENT Academic Programs THE WORLD
1% FOR FISCAL YEAR ENDING MAY, 31, 2007
Interest 7%
Income Other
Graduate Diploma Master of Arts Master of Divinity
REVENUE (1-Year Program) (2-Year Program) (3-Year Program)
Donations and Other Contributions 9,413,660.00 Christian Education Christian Education Biblical Studies
Tuition and Other Fees 6,602,596.00 Counseling Counseling Christian Education
Interest Income 211,837.00 Pastoral Studies Theology Counseling
38% 54% Other 1,193,258.00 Theology Intercultural & Urban Studies Pastoral Studies
Tuition & Donations Intercultural & Urban Studies Theology
Other Fees & Contributions Total Revenue 17,421,351.00
Intercultural & Urban Studies
EXPENSES
Instructional Expenses 11,542,150.00 Master of Arts in Transformational Urban Leadership
Administrative & General Expenses 4,728,526.00 Master of Business Administration in Biblical Stewardship and Christian Management
Total Expenses 16,270,676.00 Center for Continuing Studies Programs for Pastors and Christian Leaders
Net Revenue over Expense 1,150,675.00
EXPENSES
ASSETS
Current Assets ATS Board of Tr ustees DEAR FRIENDS
AND SUPPORTERS,
Cash & Cash Equivalents 14,383,430.00 Bishop Efraim M. Tendero Members:
Account Receivables 824,491.00 Chairman Atty. Fred B. Bravo The peace of Christ be with you!
29% Advances for Funds 121,373.00 Dr. Vicente Y. Sia Rev. Philip R. Burns
Administrative
Expenses Prepaid Expenses 57,800.00 Vice-Chairman Pastor Anastacio A. Escosar, Jr. May I express our gratitude to the
Other Current Assets 117,005.00 Architect Erlinda G. Tan Atty. Francis M. Egenias Lord for your steady partnership in
71% Total Current Assets 15,504,099.00 Secretary Rev. John D. Koenke the ministry of ATS. It is a joy and a
Instructional Dr. Cecilio K. Pedro Dr. Frank Pardue
Expenses privilege to have you work alongside
Non-Current Assets Treasurer Rev. Noel A. Pantoja us in training God's people for His work.
Property & Equipment 7,592,358.00 Mr. Andy Smith
Total Non-Current Assets 7,592,358.00 Ex-Officio Members: Rev. Dwayne F. Thielke
We are most appreciative of your prayers
Dr. David Cheung, President and giving. God bless you!
Total Assets 23,096,457.00
Mrs. Patricia R. Harris, Vice President for Administration
LIABILITIES Dr. Larry W. Caldwell, Dean of Academic Affairs You may have noticed the new ATS
ASSETS slogan: Equipping leaders to reach the
Accounts Payable and Accrued Expenses 608,657.00
Student Credit Balances and Deposits 12,750.00 world. Indeed this is what you and I are
Other Payables 50,751.00 doing together for the Lord. The Lord of the
Designated Funds: 11,577,636.00 harvest commissions His people to reach
Scholarship Fund 1,866,044.00 the world with the Gospel. ATS equips
33%
Non-Current Library Fund 58,852.00 In ouch God's people to do so.
Assets Theological Forum 110,972.00 The official newsletter of Asian Theological Seminary
67% MBA 134,016.00 is published quarterly by the As the year comes to a close, we think it
Current Assets CCS 289,883.00 Communications and Development Department good to look back and review what the Lord Again, thank you for your
MATUL 530,083.00 has been doing at ATS. The external audit
Other 8,587,786.00 partnership in this strategic
for fiscal year 2006-2007 has just been ministry. May we together
completed, so we are sending you this offer all glory to the Lord
Total Liabilities 12,249,794.00 Annual Report. In it you will also find
Net Assets 10,846,663.00 54 Scout Madriñan St., Quezon City our God!
QCCPO BOX 1454-1154 Quezon City 1102 Philippines
some ministry highlights from 2007. Good
928-5105 928-6709 928-6717 news makes for double joy when shared
TOTAL LIABILITIES & NET ASSETS 23,096,457.00 with treasured partners like you!
FAX (632) 928-5114
Email [email protected] Rev. Dr. David Cheung
website www.ats.ph ATS President
 INTERNATIONAL SPEAKERS CHALLENGE ASIAN THEOLOGICAL CCS' ONE DEGREE MINISTRIES TRAINS LOCAL LEADERS TO IMPACT MYANMAR RANKS FIRST AMONG THE INTERNATIONAL STUDENTS THIS
SEMINARY TO MEANINGFUL ENGAGEMENT CHURCH GROWTH THROUGH TRANSFORMATIVE TRAINING SEMESTER

ATS is all about effecting Biblical transformation in the Church and societies in Asia and Close to 100 pastors and leaders from the provinces of Pangasinan, Zambales, Pampanga and Laguna Students from Myanmar (15) represent the largest population of international students this second
beyond. This year ATS has been honored by the presence of many notable international joined this year's seminars, trainings, and monthly meetings of One Degree Ministries, a program of the semester of SY 2007-2008. Among the residential students, next in rank are Korean students (5). Other
theologians, authors and practitioners who have spoken with such emphasis. Some of these new ATS Center for Continuing Studies (CCS). Worship team leading, Bible exposition, leadership and international students are from Indonesia (1), Malaysia (2), India (1), Pakistan (2), Nepal (1), Mongolia
speakers include: Dr. Frederick Dale Bruner (“In the Eyes of John”); Dr. Paul Stevens (“The Joy empowerment were the topics explored by the pastors' groups. Each month, more and more pastors of (2), Nigeria (1), Papua New Guinea (1), China (2), Cambodia (1), Canada (1), America (2) and Great
@ Work”); Dr. Christopher Wright (“Responding to Poverty: Old Testament Perspectives on small churches are signifying their enthusiasm to join One Degree Ministries in the near future. One Britain (1). The total number of registered students this semester has reached 248; of this number 210 are
Causes and Commitments”); Dr. Jonathan Wong (“Worship Team Leading: A Pastoral, Priestly, Degree Ministries continues to encourage partners in achieving and enriching the vision of seeing small Filipinos.
and Prophetic Approach”); Dr. Takamitsu Muraoka (“Masorectic, Septuagint and Qumran Text churches grow and become fruitful for many generations to come.
of 2 Samuel 11”); Dr. Viv Grigg (“Urban Spirituality”); and Dr. Anne Kwantes (“Biblical
Theology of Mission”). Each of these speakers emphasized a shared vision of challenging ATS
to meaningful engagement in ministry, whether in the Church as pastor or worship leader, in the
CCS Students
classroom, in the marketplace, among the poor, or on the mission field.

Global Speakers ATS MBA INFLUENCES MARKETPLACE LEADERS EXPOSED TO A SOCIETY

PLAGUED BY CORRUPTION
MORE THAN 40 STUDENTS BENEFIT FROM THE ATS SCHOLARSHIP
PROGRAM THIS SCHOOL YEAR

A total of 184 students have enrolled in courses of the MBA in Biblical Stewardship and Christian Records show that ATS has a total of 123 graduate scholars from 2002 to 2007.This school year 46 scholars
Management since it started in 2004. The MBA alumni and students are strategic leaders who influence the are studying at ATS through the generous support of churches, Christian organizations and individuals.
PROJECT 8-30 AIMS TO EXPAND THE ATS CAMPUS Church and the marketplace to become excellent stewards of the Master's resources. This program is While ATS stresses that students and their sponsoring churches and/or organizations are responsible for the
relevant for Christian church and business leaders who are exposed to a society plagued by corruption. cost of theological education, ATS also believes financially needy, but deserving students, should not be
Despite the looming typhoon last August 16, some 60 friends and supporters trooped to Asian Recently, and in partnership with the Union Church of Manila, Dr. Paul Stevens taught a course entitled, deprived of the opportunity to be equipped to do God's work. Thus, limited scholarships are available for
Theological Seminary to participate in a Special Dinner Fellowship hosted by ATS President “Taking Your Soul to Work.” This executive MBA for leaders of churches, Christian NGOs and business these students. The Scholarship Committee appeals to more generous hearts so a greater number of
Rev. Dr. David Cheung. This was the public launching of Project 8-30. The objective is to acquire people is a 12-month program that combines corporate excellence with Christian faith and values. students can be prepared as Christian leaders to effect Biblical transformation in the Church and
societies in Asia and beyond.
an adjacent lot measuring 1,354.2 square meters. This is the first phase of the plan to erect a new
academic building in response to the challenging needs of the growing ATS ministry. Project 8-30
MBA Scholars
is budgeted at 35 million pesos (about US$ 820,000). From July to September, the total receipts
were 12.3 million pesos (35% of budget). For October to December, we are praying for another 12
million pesos (34%). As of mid-November, 1.2 million pesos has been received. Please pray for
10.2 million pesos to come in by 31st December, 2007. ANNUAL FORUM ENGAGES FILIPINO AND ASIAN LEADERS TO GLOBAL ATS ALUMNI NOW SERVE IN 39 COUNTRIES
THEOLOGICAL ISSUES
For nearly four decades an estimated 1,450 ATS alumni have been effectively involved in Christian
In the past three years, about 2,000 Christian workers, pastors and lay leaders from the Philippines and ministry in all the inhabited continents of the world: Asia, the Middle East, Europe, North and South
other parts of Asia have engaged in discussions on crucial topics that affect all Christians in the Philippines America, Africa and Australia. Every year ATS alumni gather for a “Homecoming” celebration. This past
Project 8-30 and the greater Southeast Asian context through ATS' Annual Theological Forum. This coming February 7
and 8, 2008, the 4th Annual ATS Theological Forum will address the issue of “The Church and Poverty in
July 25, Rev. Dr. Nomer Bernardino (batch of 1982) was the guest speaker at the Alumni Chapel. More than
50 alumni participated in the day's events where plans were approved to build a campus Alumni Center and
Asia” with Dr. Samuel Jayakumar, Dr. Charles Ringma and Ms. Ruth Callanta, as plenary speakers. new Alumni Officers were elected. The following officers will serve a one year term: President: Atty.
Previous themes include: “Doing Theology in the Philippine Context” (2005); “Naming the Unknown Francis Egenias, Vice President: Joy Marasigan, Secretary: Noemi Bailon, Treasurer: Edna Yap, PRO:
God: Christians and People of Other Faiths in Dialog” (2006); and “Principalities and Powers: Biblical Rev. Niki Miranak and Pastor Dennis Mongoso.
ATS EQUIPS GRASSROOT LEADERS TO UPLIFT URBAN POOR Reflections in the Asian Context” (2007). Selected essays from the past forums are published in book
COMMUNITIES THROUGH CTUL Forum form in partnership with OMF Literature, Inc. Alumni
The task of CTUL (The Center for Transformational Urban Leadership) is to equip leaders to
reach the world. The world is increasingly becoming urban and poor. By 2025 one out of four
UPEAA HONORS DR. STEWART DE BOER FOR HIS EXCELLENCE IN LIBRARY UPGRADES TO BETTER SERVE THE SEMINARY AND VISITORS
people on planet Earth will be urban poor. What does God think about that and what would He
have ATS do? With courses like “Service to the Marginalized” and “Urban Reality and EDUCATION
Theology,” CTUL offers an M.A. in Transformational Urban Leadership (MATUL) for leaders The Computerization Project of the ATS Library is fast moving with the acquisition of the ATHENA
among the urban poor. An international effort, including 25 practitioners serving as course Dr. Stewart De Boer received the Professional Leadership Award from the University of the Philippines Library Automation Software last year. This project will benefit more than 200 ATS students and an
writers, has shaped the curriculum. This semester 13 students have enrolled in this program. Education Alumni Association (UPEAA) Homecoming held last June 24, 2007, at Benitez Hall, UP average of 140 visitors each year. The new system provides easy searching, fast cataloging and streamlined
CTUL offers scholarships to all qualified students with the help of generous donors. Diliman, Quezon City. This award was given to him in recognition of his excellence in Education. Dr. De circulation and inventory. Encoding of all data into the ATHENA system is complete, and barcode labels
Boer earned his Doctor in Education (Ed.D.) in 1975. For six years, from 1980 to 1986, he was the are being attached to the books. OPAC searching is now available and online searching will be installed
President of Asian Theological Seminary, representing SEND International, the founding mission partner soon. Included in the computerization project is the Islamic Studies Collection. The whole
of ATS. Currently, Dr. De Boer serves as the President of Mission Ministries, Philippines, Inc. and as an computerization project totaling P1M has been funded by the Association for Theological Education in
ATS faculty member with the Christian Education Department. South East Asia (ATESEA), the United Board for Christian Higher Education in Asia (UBCHEA),
Overseas Council International (OCI) and various individual donors.
CTUL Faculty Librar y