Civic Intelligence

International Reformed University and Seminary

990 • Fiscal year 2017 • EIN 95-3614603

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization ProfileWWW.IRUNIV.ORG
125 S Vermont AvenueLos Angeles, CA 90004

(213) 383-9665

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.47x

Higher debt load relative to assets than 79% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

3.17x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

34th percentile

-1.8%

Higher net margin than 34% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

27th percentile

-2.7%

Faster asset growth than 27% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

75th percentile

23%

Faster revenue growth than 75% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$3,468,995

Down $95,171 (-2.7%) from 2016

Net Assets

Down

$1,833,542

Down $9,217 (-0.5%) from 2016

Liabilities

Down

$1,635,453

Down $85,954 (-5.0%) from 2016

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin34th percentile

Revenue

Up

$516,371

Up $95,590 (+23%) from 2016

Expenses

Up

$525,588

Up $68,946 (+15%) from 2016

Net Income

Up

-$9,217

Up $26,644 (+74%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,465,017Liabilities 2011: $1,558,824Net Assets 2011: $1,906,1932011Assets 2012: $3,493,486Liabilities 2012: $1,535,715Net Assets 2012: $1,957,7712012Assets 2013: $3,829,152Liabilities 2013: $1,886,434Net Assets 2013: $1,942,7182013Assets 2014: $3,749,530Liabilities 2014: $1,828,729Net Assets 2014: $1,920,8012014Assets 2015: $3,662,286Liabilities 2015: $1,783,666Net Assets 2015: $1,878,6202015Assets 2016: $3,564,166Liabilities 2016: $1,721,407Net Assets 2016: $1,842,7592016Assets 2017: $3,468,995Liabilities 2017: $1,635,453Net Assets 2017: $1,833,5422017Assets 2018: $3,482,990Liabilities 2018: $1,563,871Net Assets 2018: $1,919,1192018Assets 2019: $3,394,759Liabilities 2019: $1,487,361Net Assets 2019: $1,907,3982019Assets 2020: $3,365,777Liabilities 2020: $1,424,869Net Assets 2020: $1,940,9082020Assets 2021: $3,298,829Liabilities 2021: $1,428,467Net Assets 2021: $1,870,3622021Assets 2024: $3,097,113Liabilities 2024: $206,056Net Assets 2024: $2,891,0572024

Highlighted filing

2017

Assets$3,468,995
Liabilities$1,635,453
Net Assets$1,833,542
Open 2017 Filing

Operations Trend

Revenue Growth75th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $602,9052011Expenses 2012: $528,8052012Revenue 2013: $648,057Expenses 2013: $663,111Net Income 2013: -$15,0542013Revenue 2014: $496,961Expenses 2014: $518,880Net Income 2014: -$21,9192014Revenue 2015: $490,160Expenses 2015: $532,336Net Income 2015: -$42,1762015Revenue 2016: $420,781Expenses 2016: $456,642Net Income 2016: -$35,8612016Revenue 2017: $516,371Expenses 2017: $525,588Net Income 2017: -$9,2172017Revenue 2018: $580,860Expenses 2018: $495,283Net Income 2018: $85,5772018Revenue 2019: $386,256Expenses 2019: $397,932Net Income 2019: -$11,6762019Revenue 2020: $368,752Expenses 2020: $335,242Net Income 2020: $33,5102020Revenue 2021: $338,904Expenses 2021: $411,088Net Income 2021: -$72,1842021Revenue 2024: $1,681,043Expenses 2024: $542,813Net Income 2024: $1,138,2302024

Highlighted filing

2017

Revenue$516,371
Expenses$525,588
Net Income-$9,217
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.1
Gross Receipts
$566,838
Mission and Program Overview

Mission

International reformed university and seminary is an institution of biblical higher education, whose mission is to prepare members of the faith community in northern american region including los angeles and further throughout the world, for service as future and lay leaders not only in korean immigrant churches in the world but also in all the churches of god. This preparation is to train men and women who are approved workmen who do not need to be ashamed, and who correctly handle the word of the truth so that they may exert themselves in developing themselves to god.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,842,569$2,802,178▼ $40,391
Pledges and Grants Receivable$370,534$326,070▼ $44,464
Accounts Receivable$178,038$168,238▼ $9,800
Other Notes and Loans Receivable, Net$50,000$50,000→ $0
Intangible Assets$59,062$48,469▼ $10,593
Prepaid Expenses and Deferred Charges$43,151$43,151→ $0
Cash and Non-Interest-Bearing Accounts$20,812$30,889▲ $10,077
Total Assets$3,564,166$3,468,995▼ $95,171
Liabilities
Other Liabilities$1,686,918$1,619,003▼ $67,915
Accounts Payable and Accrued Expenses$34,489$16,450▼ $18,039
Total Liabilities$1,721,407$1,635,453▼ $85,954
Net Assets / Fund Balance
Unrestricted Net Assets$1,842,759$1,833,542▼ $9,217
Total Net Assets Fund Balance$1,842,759$1,833,542▼ $9,217
Total Liabilities and Net Assets / Fund Balance$3,564,166$3,468,995▼ $95,171

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,207,178$425,216$1,632,394
Land$1,595,000-$1,595,000
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Hun Sung ParkPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$275,946
Program Service Revenue
$227,490
Investment Income
$0
Other Revenue
$12,935
All Other Contributions
$275,946
Change in Net Assets
$-9,217
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$448,161
Salaries, Compensation, and Employee Benefits$77,427
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$68,769-$68,769
Other Salaries and Wages$49,300$18,675-$67,975
Depreciation Depletion-$42,826-$42,826
Fees for Services Legal-$39,740-$39,740
All Other Expenses$2,981$22,545-$25,526
Insurance-$15,847-$15,847
Other Expenses$14,324$68,024-$14,324
Travel-$12,522-$12,522
Payroll Taxes$3,672$5,780-$9,452
Fees for Services Accounting-$7,728-$7,728
Advertising$5,122--$5,122
Office Expenses-$4,193-$4,193
Conferences and Meetings$1,584--$1,584
Total Functional Expenses$218,939$306,649$0$525,588
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage Payable$1,619,003
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“RETURN REVIEWED BY BOARD”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
International Reformed Univ& Semi
EIN
95-3614603
Phone
2133839665
Address
125 S VERMONT AVENUE, LOS ANGELES, CA 90004
Doing Business As
Irus

Signing Officer

Name
Hun Sung Park
Title
President
Phone
2133839665
Signed
2018-05-14

Organization Details

Principal Officer
Hun Sung Park
Formed
1977
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
6

Preparer

Firm
Sara Yewon Kim CPA
Address
3435 WILSHIRE BLVD STE 1950, LOS ANGELES, CA 90010
Preparer
Sara Kim
Phone
2133839665
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“The amount of 275,946 for govenment grants has been reported incorrectly.it should have been reported under all other contributions, gifts, grants, and similar amounts not included above. Please make corrections.”

FORM 990 - ORGANIZATION'S MISSION

“International reformed university and seminary is an institution of biblical higher education, whose mission is to prepare members of the faith community in northern american region including los angeles and further throughout the world, for service as future and lay leaders not only in korean immigrant churches in the world but also in all the churches of god. This preparation is to train men and women who are approved workmen who do not need to be ashamed, and who correctly handle the word of the truth so that they may exert themselves in developing themselves to god.”

Form 990, Page 2, Part III, Line 4A

“Practical ministry readiness: irus will offer high-quality degree programs and will deliver them in a manner that prepares graduates to put their biblical knowledge and theology into practice.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 8,158 -8,158”

Raw XML Appendix330 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE AMOUNT OF 275,946 FOR GOVENMENT GRANTS HAS BEEN REPORTED INCORRECTLY.IT SHOULD HAVE BEEN REPORTED UNDER ALL OTHER CONTRIBUTIONS, GIFTS, GRANTS, AND SIMILAR AMOUNTS NOT INCLUDED ABOVE. PLEASE MAKE CORRECTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1INTERNATIONAL REFORMED UNIVERSITY AND SEMINARY IS AN INSTITUTION OF BIBLICAL HIGHER EDUCATION, WHOSE MISSION IS TO PREPARE MEMBERS OF THE FAITH COMMUNITY IN NORTHERN AMERICAN REGION INCLUDING LOS ANGELES AND FURTHER THROUGHOUT THE WORLD, FOR SERVICE AS FUTURE AND LAY LEADERS NOT ONLY IN KOREAN IMMIGRANT CHURCHES IN THE WORLD BUT ALSO IN ALL THE CHURCHES OF GOD. THIS PREPARATION IS TO TRAIN MEN AND WOMEN WHO ARE APPROVED WORKMEN WHO DO NOT NEED TO BE ASHAMED, AND WHO CORRECTLY HANDLE THE WORD OF THE TRUTH SO THAT THEY MAY EXERT THEMSELVES IN DEVELOPING THEMSELVES TO GOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRACTICAL MINISTRY READINESS: IRUS WILL OFFER HIGH-QUALITY DEGREE PROGRAMS AND WILL DELIVER THEM IN A MANNER THAT PREPARES GRADUATES TO PUT THEIR BIBLICAL KNOWLEDGE AND THEOLOGY INTO PRACTICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RETURN REVIEWED BY BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 8,158 -8,158
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0218939
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IRS990/TotalProgramServiceExpensesAmt0218939
IRS990/TotalProgramServiceRevenueAmt0227490
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0231480
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0516371
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt08945
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IRS990/USAddress/ZIPCd090004
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IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0WWW.IRUNIV.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0HUN SUNG PARK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02133839665
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-14
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0452607622
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SARA YEWON KIM CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03435 WILSHIRE BLVD STE 1950
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOS ANGELES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090010
ReturnHeader/PreparerPersonGrp/PhoneNum02133839665
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARA KIM
ReturnHeader/ReturnTs02018-11-16T15:19:48-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,468,995
Liabilities
$1,635,453
Net assets
$1,833,542
Revenue
$516,371
Expenses
$525,588
Net income
-$9,217
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.10$0.21$2.89$1.68$0.54$1.14
2021Summary only. Only limited summary data is available for this year.$3.30$1.43$1.87$0.34$0.41$0.07
2020Detailed filing. Detailed filing data is available for this year.$3.37$1.42$1.94$0.37$0.34$0.03
2019Detailed filing. Detailed filing data is available for this year.$3.39$1.49$1.91$0.39$0.40$0.01
2018Detailed filing. Detailed filing data is available for this year.$3.48$1.56$1.92$0.58$0.50$0.09
2017Detailed filing. Detailed filing data is available for this year.$3.47$1.64$1.83$0.52$0.53$0.01
2016Detailed filing. Detailed filing data is available for this year.$3.56$1.72$1.84$0.42$0.46$0.04
2015Detailed filing. Detailed filing data is available for this year.$3.66$1.78$1.88$0.49$0.53$0.04
2014Detailed filing. Detailed filing data is available for this year.$3.75$1.83$1.92$0.50$0.52$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$1.89$1.94$0.65$0.66$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.49$1.54$1.96$0.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.47$1.56$1.91$0.60