To the list I would add Fellowship/Love, i.e., Spiritually Alive.
1. Biblically based (truth)
2. Theologically sound (Truth in logic and practice)
3. Spiritually alive (Life- Love one another and the lost)
4. Opportunity to use your gifts within the Body (purpose)
I believe that this describes a True Church (as a functional Body of Believers).
A true Church seeks God and what He says. (Bible as the standard). It does not devolve into heresy (Theology in doctrine and practice). It is composed of genuine, Born-Again Believers that are marked by their Love for One Another and a love-driven desire to save the lost. (Spiritually Alive). It functions as Ephesians 4 describes as "equipping the Saints for the work of the ministry." Each believer using their gifts within the Body for the building up the Body for glory of God.
Regrettably, these are rare. We tend to find either Spiritless Formalism, or Formless Spiritualism in practice. Perfect theology and doctrine does not make a Church without spiritual life. Spiritual Life cannot amount to a Church if it is off the rails doctrinally. Few Churches have a spiritual life where God's love within them and through them is what binds them together. Most Churches today do not encourage and involve their people to "do" the ministry, but just "hire" another "professional" to fill that function. This leaves little to no opportunity for people to use their gifts for the Body, nor the chance to develop that gift that God has given them.
To summarize what I want in a Church:
I want a Body of Believers that love one another, seek God with all their hearts to find his will and truth. I want to love and be loved in fellowship, and be encouraged to use whatever gifts that God has blessed me with for the glory of God.
Am I asking too much, or are we called to warm 18 inches of lumber once a week?