SOUTHERN REFORMED THEOLOGICAL SEMI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

SOODONG KIM

Phone

2819449867

Tax Period

2022-07-01 to 2023-06-30

SOUTHERN REFORMED THEOLOGICAL SEMINARY INC, founded in 2008, is a small nonprofit in the Religion sector that reported $246K in total revenue in fiscal year 2022. Revenue surged 182% from the prior year, signaling strong growth momentum.

Mission

The Seminary exists for the express purpose, through biblical higher education, to train men and women of varied ethnic origins for spiritual development and effective ministry in today's complex society of diverse cultures.

Program Service Accomplishments

Program 1

Expenses: $182,631 Revenue: $27,089

Education Activities: providing programs that include Certificate, AA, BA, MA, and MDiv in the areas of Biblical Studies, Christian Counseling, Minstry and Pastoral Ministry.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $76,555

Program Service Revenue $27,089

Investment Income $142,355

Other Revenue $0

TOTAL REVENUE $245,999

Expense Breakdown

Grants Paid $0

Salaries & Benefits $160,181

Fundraising Expenses $0

Program Expenses $182,631

Other Expenses $92,688

TOTAL EXPENSES $252,869

Year-over-Year Comparison

	2022	2021	Change
Revenue	$245,999	$87,215	+1.8%
Expenses	$252,869	$226,095	+0.1%
Net Income	$-6,870	$-138,880	-1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Chulsung Lim	Acting Chairman	0.50	Officer Director	$0	$0	$0
Kenneth Washington	Clerk/Secretary	0.50	Officer Director	$0	$0	$0
Edward Song	Trustee	0.50	Director	$0	$0	$0
Youngrak Jung	Trustee	0.50	Director	$0	$0	$0
Steve Hall	President/CEO	5.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$245,999	$252,869	$379,617	$-6,870
2022	$87,215	$226,095	$843,117	$-138,880
2021	$118,893	$202,704	$898,725	$-83,811

SOUTHERN REFORMED THEOLOGICAL SEMINARY INC