Totals
- Total revenue
- $1,809,646
- Total expenses
- $1,570,657
- Contributions and grants received
- $237,195
- Grants paid
- $0
- Program service revenue
- $1,572,451
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $2,695,404
- Total liabilities, end of year
- $1,186,770
- Net assets or fund balances, end of year
- $1,508,634
- Program services expenses (Part IX)
- $980,784
- Management and general expenses
- $589,873
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $894,533
Program services were 62.4% 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.
-
1f · All other contributions, gifts and grants
$237,195
-
2a · Program service revenue: TUITION AND FEES
total $1,073,096 · related or exempt $1,073,096
-
2b · Program service revenue: LILY ENDOWMENT NET
total $499,355 · related or exempt $499,355
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $564,314 · program services $386,246 · management and general $178,068
-
7 · Other salaries and wages
total $213,591 · program services $213,591
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $24,392 · management and general $24,392
-
10 · Payroll taxes
total $54,593 · program services $34,731 · management and general $19,862
-
11a · Fees: management
total $35,064 · program services $32,052 · management and general $3,012
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $9,480 · management and general $9,480
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $5,590 · program services $2,447 · management and general $3,143
-
13 · Office expenses
total $15,756 · management and general $15,756
-
14 · Information technology
total $77,501 · program services $77,501
-
15 · Royalties
total $0
-
16 · Occupancy
total $131,000 · management and general $131,000
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $28,910 · program services $28,910
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $27,917 · program services $27,917
-
23 · Insurance
total $5,904 · management and general $5,904
-
24a · Other expenses: Tax and license, TRACS related fees, online course
total $64,627 · program services $64,475 · management and general $152
-
24b · Other expenses: Library related
total $67,900 · program services $67,900
-
24c · Other expenses: Student activities
total $45,014 · program services $45,014
-
24d · Other expenses: Donations
total $169,585 · management and general $169,585
-
24e · All other expenses
total $29,519 · management and general $29,519
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,149,707 · end of year $91,151
-
2 · Savings and temporary cash investments
end of year $2,200,000
-
4 · Accounts receivable
beginning of year $295,007 · end of year $251,328
-
10a · Land, buildings and equipment: cost or other basis
$521,942
-
10b · Land, buildings and equipment: accumulated depreciation
$424,138
-
10c · Land, buildings and equipment, net
beginning of year $125,721 · end of year $97,804
-
15 · Other assets
beginning of year $133,522 · end of year $55,121
-
17 · Accounts payable and accrued expenses
beginning of year $46,027 · end of year $26,589
-
19 · Deferred revenue
beginning of year $35,875 · end of year $35,874
-
25 · Other liabilities
beginning of year $340,737 · end of year $1,124,307
-
27 · Net assets without donor restrictions
beginning of year $1,281,318 · end of year $432,941
-
28 · Net assets with donor restrictions
end of year $1,075,693
Mission and programs · 2023
Mission
School of Theology The university educates and supports students to become reformed leaders by providing sufficient knowledge, skills, and proficiency. For this institutional purpose, the university has provided the most effective academic programs and structures.
-
The school was successful in training and graduating students for the ministry and in providing education on various christian.
Expenses $894,533 · Revenue $1,073,096
As filed on the 2023 return.
Listed in Part VII
-
Kyunam ChoiKYUNAM CHOI
PRESIDENT
- Total calculated
- $77,820
- From this org
- $77,820
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Hyun Wan KimHYUN WAN KIM
SECRETARY
- Total calculated
- $76,550
- From this org
- $76,550
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Chong Won ChoiCHONG WON CHOI
TREASURY
- Total calculated
- $35,760
- From this org
- $35,760
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443189349310894
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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