International Reformed University And Seminary
- Assets
- $3.4m
- Revenue
- $368.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Los Angeles, CA
- Founding
- 04/1981
- Data as of
- 06/2020
- EIN
- 95-3614603
Organization Overview
International Reformed University And Seminary, operating under the name Irus, is located in Los Angeles, CA. The organization was established in 1981. As of 06/2020, Irus employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Irus 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 06/2020, Irus generated $368.8k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $335.2k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (5.0%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRHIGHER EDUCATION ACCESS: IRUS WILL PROVIDE ACCESS TO HIGHER EDUCATION FOR ALL CHURCH MEMBERS OF IMMIGRANT COMMUNITY. IRUS RECOGNIZES THAT LEARNING IS A LIFE-LONG PROCESS AND THUS WILL MAKE EDUCATION MORE ACCESSIBLE AND AFFORDABLE. OUR COMMUNITIES AND CHURCH GROWTH: IRUS WILL FOSTER COLLABORATIVE RELATIONSHIPS THAT FACILITATE PARTNERING FOR MUTUAL SUCCESS, BEING AFFILIATED WITH CHURCHES IN DENOMINATIONS TO NURTURE CHURCH LEADERS. QUALITY ACADEMIC SERVICES: IRUS WILL PROVIDE THE QUALITY TEACHING AND LEARNING FOCUSED ON ACADEMIC ACHIEVEMENT AND PERSONAL AND PROFESSIONAL GROWTH AND UTILIZE APPROPRIATE TECHNOLOGIES TO ADVANCE PROGRAMS, SERVICES AND OPERATIONS TO SUPPORT TEACHING AND LEARNING. 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.
PRHIGHER EDUCATION ACCESS: IRUS WILL PROVIDE ACCESS TO HIGHER EDUCATION FOR ALL CHURCH MEMBERS OF IMMIGRANT COMMUNITY. IRUS RECOGNIZES THAT LEARNING IS A LIFE-LONG PROCESS AND THUS WILL MAKE EDUCATION MORE ACCESSIBLE AND AFFORDABLE. OUR COMMUNITIES AND CHURCH GROWTH: IRUS WILL FOSTER COLLABORATIVE RELATIONSHIPS THAT FACILITATE PARTNERING FOR MUTUAL SUCCESS, BEING AFFILIATED WITH CHURCHES IN DENOMINATIONS TO NURTURE CHURCH LEADERS. QUALITY ACADEMIC SERVICES: IRUS WILL PROVIDE THE QUALITY TEACHING AND LEARNING FOCUSED ON ACADEMIC ACHIEVEMENT AND PERSONAL AND PROFESSIONAL GROWTH AND UTILIZE APPROPRIATE TECHNOLOGIES TO ADVANCE PROGRAMS, SERVICES AND OPERATIONS TO SUPPORT TEACHING AND LEARNING. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hun Sung Park President | OfficerTrustee | 40 | $0 |
Chun C Yi Secretary | OfficerTrustee | 0 | $0 |
Samuel Lee Vice-Chair | Trustee | 0 | $0 |
Nahm E Kim Chairman Of | Trustee | 40 | $0 |
Seung Wook Lee Treasurer | Trustee | 0 | $0 |
Oon Young Lee Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $121,891 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,611 |
| 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 | $368,752 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,100 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,212 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,142 |
| Fees for services: Accounting | $1,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,927 |
| Office expenses | $3,910 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51,540 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,736 |
| Insurance | $11,200 |
| All other expenses | $0 |
| Total functional expenses | $335,242 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,341 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $352,000 |
| Accounts receivable, net | $202,337 |
| 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 | $18,817 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $20,014 |
| Other assets | $0 |
| Total assets | $3,365,777 |
| Accounts payable and accrued expenses | $1,662 |
| 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 | $1,423,207 |
| Total liabilities | $1,424,869 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,940,908 |
Peer Organizations
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|---|---|---|
Bethesda University Anaheim, CA | $16,791,333 | $2,969,487 |
Stanton University Garden Grove, CA | $128,589 | $2,050,126 |
Grace Mission University Fullerton, CA | $1,165,518 | $1,837,254 |
Evangelia University Anaheim, CA | $1,694,844 | $733,587 |
Cook Native American Ministries Foundation Tempe, AZ | $15,213,627 | $931,587 |
Choc Halev Berkeley, CA | $534,540 | $418,280 |
Pacific Bible College Medford, OR | $306,241 | $566,050 |
International Reformed University And Seminary Los Angeles, CA | $3,365,777 | $368,752 |
Union University Of California Westminster, CA | $688,435 | $167,250 |
Bible Institute Of Hawaii Honolulu, HI | $139,214 | $111,873 |