The Masters University And Seminary
- Assets
- $147.4m
- Revenue
- $80.8m
- Investments
- $4.9m
- Employees
- 1,134
- Location
- Santa Clarita, CA
- Founding
- 06/1963
- Data as of
- 06/2022
- EIN
- 95-6001907
Organization Overview
The Masters University And Seminary is located in Santa Clarita, CA. The organization was established in 1963. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Masters University And Seminary employed 1,134 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masters University And Seminary 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, Masters University And Seminary generated $80.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $63.5m during the year ending 06/2022. While expenses have increased by 3.3% 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
CHRISTIAN LIBERAL ARTS COLLEGE AND THEOLOGICAL SEMINARY EXISTING TO ADVANCE THE KINGDOM OF THE LORD
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNDERGRADUATE LIBERAL ARTS ACADEMIC PROGRAM, MABC AND CREDENTIAL PROGRAMS, ONLINE DEGREE PROGRAMS, AND SEMINARY GRADUATE DEGREES.THE MISSION OF THE MASTER'S UNIVERSITY IS TO EMPOWER STUDENTS FOR A LIFE OF ENDURING COMMITMENT TO CHRIST, BIBLICAL FIDELITY, MORAL INTEGRITY, INTELLECTUAL GROWTH AND LASTING CONTRIBUTION TO THE KINGDOM OF GOD WORLDWIDE. THE MASTER'S SEMINARY TRAINS MEN, THROUGH AN ADVANCED ACADEMIC PROGRAM PRIORITIZING BIBLICAL AUTHORITY AND LOCAL CHURCH DISCIPLESHIP, FOR PASTORAL MINISTRY--TO PREACH THE WORD OF GOD, REACH THE WORLD FOR CHRIST, AND TEACH OTHERS TO DO THE SAME.
AUXILIARY ENTERPRISES SUCH AS OPERATION OF DORMITORY FACILITIES, FOOD SERVICE OPERATIONS, AND STUDENT BOOKSTORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lucas Cherry University VP Of Development | 40 | $221,030 | |
Sam Horn Former President | 40 | $209,000 | |
Dariu Dumitru Chief Enrollment & Marketing | 40 | $170,970 | |
Thomas Hopewell Provost And Dean Of Online Learning | 40 | $170,240 | |
Abner Chou Presidentmacarthur Endowed Chair Of Biblical Studies | OfficerTrustee | 40 | $162,282 |
John Russell Controller | 40 | $148,817 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bj Development & Construction Construction | 6/29/22 | $1,900,158 |
Bon Appetit Food Service | 6/29/22 | $1,816,527 |
Brinoch Llc Equipment | 6/29/22 | $1,236,074 |
Powerful Cleaning Llc Renovations | 6/29/22 | $431,740 |
Ebm Inc Janitorial | 6/29/22 | $355,507 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $73,401 |
| Related organizations | $0 |
| Government grants | $3,114,563 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,084,330 |
| Noncash contributions included in lines 1a–1f | $772,140 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,272,294 |
| Total Program Service Revenue | $49,301,242 |
| Investment income | $1,078,307 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $35,362 |
| Net Rental Income | $64,136 |
| Net Gain/Loss on Asset Sales | $1,630,492 |
| Net Income from Fundraising Events | -$29,672 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $381,225 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,766,902 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,444,029 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $565,462 |
| Compensation of current officers, directors, key employees. | $565,462 |
| Compensation to disqualified persons | $395,549 |
| Other salaries and wages | $22,705,632 |
| Pension plan accruals and contributions | $609,657 |
| Other employee benefits | $3,220,637 |
| Payroll taxes | $1,278,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,811 |
| Fees for services: Accounting | $91,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $154,549 |
| Fees for services: Other | $1,650,922 |
| Advertising and promotion | $1,169,479 |
| Office expenses | $2,154,785 |
| Information technology | $1,074,393 |
| Royalties | $58,487 |
| Occupancy | $2,919,783 |
| Travel | $1,698,052 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,207,677 |
| Interest | $836,401 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,824,675 |
| Insurance | $372,584 |
| All other expenses | $2,059,664 |
| Total functional expenses | $63,547,849 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,330,203 |
| Savings and temporary cash investments | $11,383,389 |
| Pledges and grants receivable | $2,162,434 |
| Accounts receivable, net | $440,877 |
| Loans from Officers, Directors, or Controlling Persons | $65,464 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,196,168 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,970,603 |
| Net Land, buildings, and equipment | $74,573,508 |
| Investments—publicly traded securities | $36,046,402 |
| Investments—other securities | $4,926,378 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,317,218 |
| Total assets | $147,412,644 |
| Accounts payable and accrued expenses | $2,809,263 |
| Grants payable | $0 |
| Deferred revenue | $4,148,367 |
| Tax-exempt bond liabilities | $25,017,763 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $343,102 |
| Unsecured mortgages and notes payable | $790,189 |
| Other liabilities | $12,136,384 |
| Total liabilities | $45,245,068 |
| Net assets without donor restrictions | $46,472,365 |
| Net assets with donor restrictions | $55,695,211 |
| 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 | $147,412,644 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Masters University And Seminary has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Floradon Foundation Henderson, NV PURPOSE: EDUCATION | $5,000 |
Endowment Analysis
| Beg. Balance | $48,079,807 |
| Earnings | -$3,050,092 |
| Net Contributions | $1,377,225 |
| Grants | $2,008,669 |
| Ending Balance | $44,398,271 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Linfield University Mcminnville, OR | $308,659,467 | $110,269,366 |
Westmont College Santa Barbara, CA | $328,569,320 | $121,110,665 |
Scripps College Claremont, CA | $617,457,507 | $98,616,217 |
California College Of The Arts San Francisco, CA | $203,468,162 | $107,701,190 |
Vanguard University Of So Ca Costa Mesa, CA | $81,753,319 | $83,351,301 |
Harvey Mudd College Claremont, CA | $659,151,438 | $77,731,780 |
The Masters University And Seminary Santa Clarita, CA | $147,412,644 | $80,766,902 |
William Jessup University Rocklin, CA | $119,510,265 | $60,123,299 |
Pitzer College Claremont, CA | $349,158,922 | $62,327,201 |
Pacific Union College Angwin, CA | $98,736,096 | $48,958,321 |
Menlo College Atherton, CA | $48,235,643 | $52,004,358 |
Corban University Salem, OR | $26,227,993 | $40,955,830 |