WASHINGTON HERITAGE UNIVERSITY FKA WASHINGTON THEOLOGICAL SEMINARY (EIN 541694588) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1983

Legal Domicile

Principal Officer

NAM HONG CHO

Phone

7037626937

Tax Period

2023-07-01 to 2024-06-30

WASHINGTON THEOLOGICAL SEMINARY, founded in 1983, is a small nonprofit that reported $842K in total revenue in fiscal year 2018. Revenue surged 70% from the prior year, signaling strong growth momentum. Expenses of $808K left a modest 4% surplus.

Mission

TO PROVIDE BIBLICALLY INTEGRATED EDUCATION TO EQUIP STUDENTS AND HIS PEOPLE FOR WORKS OF SERVICE, IN THE NAME OF LORD JESUS CHRIST, THROUGH MINISTRY AND PROFESSIONAL OCCUPATIONS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $215,500

Program Service Revenue $765,347

Investment Income $100

Other Revenue $3,476

TOTAL REVENUE $984,423

Expense Breakdown

Grants Paid $0

Salaries & Benefits $495,216

Fundraising Expenses $0

Program Expenses $721,273

Other Expenses $613,496

TOTAL EXPENSES $1,108,712

Year-over-Year Comparison

	2023	2022	Change
Revenue	$984,423	$844,128	+0.2%
Expenses	$1,108,712	$982,960	+0.1%
Net Income	$-124,289	$-138,832	-0.1%

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

N/A

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

$23,400

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUN H LEE	CHAIR	1.00	Director	$0	$0	$0
BYUNG WAN LEE	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN K KIM	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINA LEE	BOARD MEMBER	1.00	Director	$0	$0	$0
NAM H CHO	PRESIDENT	40.00	Officer	$23,400	$0	$23,400

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
2025	No data	No data	No data	No data
2024	$984,423	$1,108,712	$1,283,469	$-124,289
2023	$844,128	$982,960	$1,580,091	$-138,832
2022	$1,424,242	$1,544,114	$466,239	$-119,872
2022	$846,393	$966,265	$466,239	$-119,872
2021	$1,636,000	$1,575,788	$511,043	$60,212
2019	$1,123,182	$1,211,976	$211,762	$-88,794
2018	$842,334	$807,543	$249,045	$34,791

WASHINGTON HERITAGE UNIVERSITY FKA WASHINGTON THEOLOGICAL SEMINARY