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Nonprofiteer
← WORLD OLIVET ASSEMBLY INC

Form 990 for tax year 2023

Filed by WORLD OLIVET ASSEMBLY INC.

Totals

Total revenue
$14,012,190
Total expenses
$12,324,373
Contributions and grants received
$12,843,243
Grants paid
$2,513,715
Program service revenue
$0
Investment income
$0
Other revenue
$1,168,947
Total assets, end of year
$89,795,059
Total liabilities, end of year
$42,315,518
Net assets or fund balances, end of year
$47,479,541
Program services expenses (Part IX)
$8,264,563
Management and general expenses
$3,752,799
Fundraising expenses
$307,011
Program service expenses (Part III)
$8,264,563

Program services were 67.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $616,476

  • 1f · All other contributions, gifts and grants

    $12,226,767

  • 1g · Noncash contributions included above

    $920,960

  • 6a · Gross rents

    real property $1,168,947

  • 6c · Rental income or loss

    real property $1,168,947

  • 6d · Net rental income or loss

    total $1,168,947 · unrelated business $1,168,947

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $477,059 · program services $477,059

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $2,036,656 · program services $2,036,656

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $103,542 · program services $103,542

  • 6 · Compensation of disqualified persons

    total $699,291 · program services $458,441 · management and general $160,567 · fundraising $80,283

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $61,868 · program services $43,307 · management and general $12,374 · fundraising $6,187

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $534,540 · management and general $534,540

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,176,491 · program services $857,441 · management and general $319,050

  • 12 · Advertising and promotion

    total $302,476 · management and general $302,476

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $77,244 · program services $54,071 · management and general $19,311 · fundraising $3,862

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $141,537 · program services $99,076 · management and general $28,307 · fundraising $14,154

  • 19 · Conferences, conventions and meetings

    total $1,030,247 · program services $1,030,247

  • 20 · Interest

    total $2,406,093 · program services $1,684,265 · management and general $721,828

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,550,760 · program services $993,850 · management and general $414,931 · fundraising $141,979

  • 23 · Insurance

    total $291,480 · management and general $291,480

  • 24a · Other expenses: Bad Debt Exp

    total $250,000 · management and general $250,000

  • 24b · Other expenses: Bank Charges

    total $206,030 · management and general $206,030

  • 24c · Other expenses: Repairs Maintenance

    total $345,221 · program services $241,655 · management and general $69,044 · fundraising $34,522

  • 24d · Other expenses: Utilities

    total $236,045 · program services $141,626 · management and general $70,815 · fundraising $23,604

  • 24e · All other expenses

    total $397,793 · program services $43,327 · management and general $352,046 · fundraising $2,420

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,545,879 · end of year $1,645,707

  • 3 · Pledges and grants receivable

    beginning of year $10,116,468 · end of year $9,769,982

  • 4 · Accounts receivable

    beginning of year $730,835 · end of year $102,390

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,531,779 · end of year $6,450,229

  • 10a · Land, buildings and equipment: cost or other basis

    $78,615,487

  • 10b · Land, buildings and equipment: accumulated depreciation

    $6,853,992

  • 10c · Land, buildings and equipment, net

    beginning of year $72,194,504 · end of year $71,826,751

  • 17 · Accounts payable and accrued expenses

    beginning of year $896,676 · end of year $108,435

  • 19 · Deferred revenue

    beginning of year $1,257,305 · end of year $811,845

  • 23 · Secured mortgages and notes payable

    beginning of year $31,117,526 · end of year $30,397,690

  • 24 · Unsecured notes and loans payable

    beginning of year $11,056,234 · end of year $10,997,548

  • 27 · Net assets without donor restrictions

    beginning of year $36,750,323 · end of year $36,219,296

  • 28 · Net assets with donor restrictions

    beginning of year $9,041,401 · end of year $11,260,245

Mission and programs · 2023

Mission

World Olivet Assemblys mission is to proclaim Gods Word, to help others come to faith in Jesus Christ, and to seek fulfillment of the Great Commission that the Lord has entrusted to all believers.

Activities or mission (Part I)

An association of churches organized exclusively for religious purposes

  • Global Church Planting and Mission Support During the fiscal year, World Olivet Assembly expanded its support of churches, mission centers, and ministry organizations throughout Asia, Europe, Africa, the Caribbean, and South America. Financial assistance was provided to establish and strengthen local congregations, support evangelistic outreach, develop ministry leadership, and advance Christian mission activities in underserved regions.. Significant support was directed toward church development initiatives in Colombia, Zambia, France, Japan, and other international locations, contributing to the growth and sustainability of Christian communities worldwide.

    Expenses $5,537,257 · Grants $1,831,486

  • International Ministry Partnerships and Community Development World Olivet Assembly provided grants and program support to affiliated organizations engaged in community outreach, humanitarian service, family ministries, youth programs, and Christian education. Through strategic partnerships with churches and ministry centers across multiple continents, the organization helped facilitate programs that addressed spiritual, educational, and social needs within local communities. These efforts strengthened organizational capacity among partner ministries and promoted long-term community development consistent with the organizations religious and charitable mission.

    Expenses $1,652,913 · Grants $200,100

  • Leadership Development, Education, and Training Initiatives The organization continued to invest in leadership training, educational programs, and ministry development initiatives designed to equip current and future Christian leaders. Support was provided for theological education, vocational training, ministry conferences, and specialized educational programs through partner institutions and ministry organizations. These initiatives fostered spiritual growth, leadership excellence, and organizational effectiveness while helping expand the reach and impact of Christian ministry activities around the world.

    Expenses $1,074,393 · Grants $482,129

As filed on the 2023 return.

Listed in Part VII

  • Marian Spisak

    Chairman

    Total calculated
    $53,942
    From this org
    $53,942
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Chunmei Fu

    Associate Pastor

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • David Chang

    President

    Total calculated
    $19,600
    From this org
    $19,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Alma Osorio

    Trustee

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
11 June 2026
IRS schema version
2023v6.0
Source object
202601669349300410

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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