Wongu University Of Oriental Medicine
- Assets
- $2.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 42
- Location
- Las Vegas, NV
- Founding
- 03/2014
- Data as of
- 06/2022
- EIN
- 46-2711511
Organization Overview
Wongu University Of Oriental Medicine is located in Las Vegas, NV. The organization was established in 2014. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2022, Wongu University Of Oriental Medicine employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wongu University Of Oriental Medicine 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 06/2022, Wongu University Of Oriental Medicine generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 2.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE AND TRAIN STUDENTS TO BECOME SKILLED AND COMPASSIONATE PRACTITIONERS OF ORIENTAL MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACHIEVEMENTS IN PAST FISCAL YEAR JULY 1, 2021-JUNE 30, 2022 ACADEMIC:WONGU EMPLOYED 18 ADJUNCT FACULTY, TEACHING AN AVERAGE OF 64 COURSES PER TERM (256 PER YEAR).WONGU CONTINUED TO OFFER A MAJORITY OF ITS DIDACTIC COURSES ONLINE PER THE EMERGENCY WAIVER GRANTED BY ACAOM.WONGU HEALTH CENTER:THE WONGU HEALTH CENTER (WHC) IMPLEMENTED 5 DAYS A WEEK OPERATION FROM 4 DAYS A WEEK.THE WHC SERVED 479 NEW PATIENTS WITH A TOTAL OF 4,346 PATIENT VISITS DURING THE SUMMER 2021 TO THE SPRING 2022 TERMS.EACH TERM AN AVERAGE OF 16 INTERNS (19 IN SUMMER 2021, 17 IN FALL 2021,12 IN WINTER 2022,15 IN SPRING 2022 ) WORKED 40 SHIFTS (4-HOUR SHIFTS). WHC INSTALLED 3-FILTER AIR PURIFIERS ON THE HALLWAY AND ADOPTED CDC SAFETY PROTOCOLS THROUGHOUT THE CLINIC AND TO REDUCE PROSPECTIVE COMPLAINTS OF MOXA SMOG.ADMISSIONS/ENROLLMENT:TOTAL NUMBER OF STUDENTS ENROLLED EACH TERM FLUCTUATED BETWEEN 31-40 STUDENTS.NINE NEW STUDENTS ENROLLED DURING THE YEAR.MARKETING:GOOGLE SEARCH TERM & FACEBOOK ADVERTISING CAMPAIGN -- THE HIGHER EDUCATION MARKETING (HEM) FIRM WAS CONTRACTED TO PRODUCE LANDING PAGES AND UTILIZE SEARCH ENGINE OPTIMIZATION. HEM ALSO DEVELOPS ADVERTISING ON FACEBOOK FOR TARGETED AUDIENCES.ADVERTISEMENTS FOR THE HEALTH CENTER WERE PLACED IN CHINESE AND KOREAN LANGUAGE NEWSPAPERS.60 OUTREACH EVENTS WERE HELD AT THE LOCAL COMMUNITY AND WONGU CAMPUSGRADUATES AND ALUMNI:WONGU GRADUATED NINE STUDENTS AT ITS JUNE 2022 COMMENCEMENT CEREMONY.FOUR GRADUATES FROM THE PREVIOUS YEAR PASSED ALL FOUR CONTENT DOMAINS OF THE NCCAOM EXAMS AND PASSED THE NEVADA STATE LICENSURE EXAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sang Kyun Kim Chairman | Trustee | 2 | $0 |
Eric Richardson President July-September | OfficerTrustee | 40 | $63,920 |
Dr Sang Hyun Lee Director, President Mid-June | OfficerTrustee | 2 | $64,940 |
Michael Smith Secretary July-October | OfficerTrustee | 2 | $0 |
Samia Burton MD Director | Trustee | 2 | $0 |
Katherine Duncan Director | Trustee | 2 | $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 | $1,229,004 |
| Noncash contributions included in lines 1a–1f | $728,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,229,004 |
| Total Program Service Revenue | $660,665 |
| Investment income | $93 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $300 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,890,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $310 |
| Grants and other assistance to domestic individuals. | $13,810 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $281,370 |
| Compensation of current officers, directors, key employees. | $180,496 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $617,706 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $75,973 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $88,397 |
| Fees for services: Accounting | $15,036 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $53,918 |
| Office expenses | $28,182 |
| Information technology | $27,467 |
| Royalties | $0 |
| Occupancy | $59,415 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $110 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,494 |
| Insurance | $13,656 |
| All other expenses | $0 |
| Total functional expenses | $1,341,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $598,756 |
| Savings and temporary cash investments | $300,603 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,922 |
| 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 | $12,422 |
| Net Land, buildings, and equipment | $1,727,539 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $2,644,242 |
| Accounts payable and accrued expenses | $45,309 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $45,309 |
| Net assets without donor restrictions | $2,098,933 |
| Net assets with donor restrictions | $500,000 |
| 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 | $2,644,242 |