Remnant Ministry
- Assets
- $2.0m
- Revenue
- $667.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Annandale, VA
- Founding
- 11/2014
- Data as of
- 12/2023
- EIN
- 20-3546611
Organization Overview
Remnant Ministry is located in Annandale, VA. The organization was established in 2014. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Remnant Ministry employed 2 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Remnant Ministry is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Remnant Ministry generated $667.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $664.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP YOUTHS SPIRITUALLY, MENTALLY AND SOCIALLY IN REALIZING THEIR IDENTIRY THROUGH THE RELIGIOUS MISSION AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELIGIOUS EDUCATION AND TRAINING. FOLLOWING IS PRIMARY ACTIVITIES. REMNANT CONFERENCE OF AMERICA IS AN ANNUAL FESTIVAL WHERE YOUNG REMNATS ACROSS THE COUNTRY GATHER TO CELEBRATE AND RECEIVE GOSPEL MESSAGES AND INTERACT WITH PROFESSIONALS. PROGRAM SERVICE DESCRIPTIONS FOR 2023 1. DATE: NOVEMBER 2023 LOCATION: THE WESTIN CHICAGO NORTH SHORE 601 N MILWAUKEE AVE WHEELING IL 60090 PARTICIPANTS: 900 2. DATE: 9/5/23 - 9/7/23 LOCATION: ONE MIND CHURCH 13430 MILLWOOD DR WOODBRIDGE VA 22191 PARTICIPANTS: 400
AMORTIZATION EXPENSE FOR THE CLOSING COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dong C Lee Executive Of | OfficerTrustee | $5,400 | |
Ryun J Choi Financial Of | Officer | 40 | $26,200 |
Kwang S Ryu President | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $156,840 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $156,840 |
| Total Program Service Revenue | $510,071 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $666,986 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,537 |
| Grants and other assistance to domestic individuals. | $3,154 |
| Grants and other assistance to Foreign Orgs/Individuals | $60,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,600 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,417 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,846 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,900 |
| Advertising and promotion | $0 |
| Office expenses | $19,200 |
| Information technology | $445 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $61,900 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,524 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $214 |
| Insurance | $4,336 |
| All other expenses | $19,254 |
| Total functional expenses | $664,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $435,315 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,217 |
| Net Land, buildings, and equipment | $1,587,241 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,861 |
| Other assets | $0 |
| Total assets | $2,043,634 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $455,550 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $187 |
| Total liabilities | $455,737 |
| Net assets without donor restrictions | $1,587,897 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,043,634 |