Video from Veritas Forum
"The theological concept of “already but not yet” holds that believers are actively taking part in the kingdom of God, although the kingdom will not reach its full expression until sometime in the future. We are “already” in the kingdom, but we do “not yet” see it in its glory. The “already but not yet” theology is related to kingdom theology or inaugurated eschatology.
The “already but not yet” paradigm was developed by Princeton theologian Gerhardus Vos early in the 20th century. In the 1950s George Eldon Ladd, a professor at Fuller Theological Seminary, argued that there are two meanings to the kingdom of God: 1) God’s authority and right to rule and 2) the realm in which God exercises His authority. The kingdom, then, is described in Scripture both as a realm presently entered and as one entered in the future. Ladd concluded that the kingdom of God is both present and future.
The “already but not yet” theology is popular among the Charismatics, for whom it provides a theological framework for present-day miracles. “Already but not yet” is officially embraced by the Vineyard Church and underpins many of their teachings..." from the article: What is the concept of "already but not yet"?