The Master's University and Seminary

EIN: 956001907 501(c)(3) Education

Santa Clarita, CA

Total Revenue
$85,143,754
Total Expenses
$75,532,642
Total Assets
$166,684,429
Net Assets
$118,488,142
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Financial Trends

Organization Details

Formation Year
1927
Legal Domicile
CA
Principal Officer
Abner Chou
Phone
6612593540
Tax Period
2022-07-01 to 2023-06-30

The Master's University and Seminary, founded in 1927, is a mid-sized nonprofit in the Education sector that reported $85.1M in total revenue in fiscal year 2022. Expenses of $75.5M left a modest 11% surplus.

Mission

The Master's University and Seminary (TMUS) exists to advance the Kingdom of the Lord Jesus Christ through education. This is accomplished through unreserved commitment to worshipping God, authority of Scripture, personal holiness, serving the local church, and penetrating the world with the Truth.

Program Service Accomplishments

Program 1
Expenses: $51,747,710 Revenue: $48,467,178

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...

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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.

Program 2
Expenses: $14,120,995 Revenue: $13,903,208

Auxiliary enterprises such as operation of dormitory facilities, food service operations, and student bookstore.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $21,800,477
Program Service Revenue $62,457,616
Investment Income $923,099
Other Revenue $-37,438
TOTAL REVENUE $85,143,754

Expense Breakdown

Grants Paid $19,178,412
Salaries & Benefits $31,478,545
Fundraising Expenses $2,992,387
Program Expenses $65,868,705
Other Expenses $24,875,028
TOTAL EXPENSES $75,532,642

Year-over-Year Comparison

2022 2021 Change
Revenue $85,143,754 $80,766,902 +0.1%
Expenses $75,532,642 $63,547,849 +0.2%
Net Income $9,611,112 $17,219,053 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
10
Employees
1262
Volunteers
50

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
6
$529,544
Total Directors
17
$257,786
Key Employees
0
$0
Highest Compensated
9
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Abner Chou PresidentMacArthur Endowed Chair of Biblical Studies 40.00
Officer Director
$153,300 $25,233 $178,533
Brad Armstrong Chair 5.00
Officer Director
$0 $0 $0
Jonathan Rourke Vice Chair 5.00
Officer Director
$30,650 $0 $30,650
Mark Tatlock Secretary & Faculty 5.00
Officer Director
$7,155 $0 $7,155
David van Wingerden Treasurer 2.00
Officer Director
$0 $0 $0
Scott Ardavanis Board Member & Faculty 3.00
Director
$8,325 $0 $8,325
Luis Contreras Board Member 1.00
Director
$0 $0 $0
Bryan Hughes Board Member 1.00
Director
$0 $0 $0
Jesse Johnson Board Member 1.00
Director
$0 $0 $0
George Lawson Board Member 1.00
Director
$0 $0 $0
John MacArthur Board Member & Chancellor 3.00
Director
$33,123 $0 $33,123
Felix Martin del Campo Board Member 1.00
Director
$0 $0 $0
Matthew Sakiestewa Gilbert Board Member 1.00
Director
$0 $0 $0
George Sanders Board Member 1.00
Director
$0 $0 $0
Rod Shackelford Board Member 1.00
Director
$0 $0 $0
Robert Provost Board Member (part year) 1.00
Director
$0 $0 $0
David Wismer Board Member (part year) 1.00
Director
$0 $0 $0
Todd Kostjuk CFO & VP of Administration 40.00
Officer
$133,704 $179,502 $313,206
Lucas Cherry University VP of Development 40.00
Highest
$229,950 $7,780 $237,730
Thomas Hopewell Provost and Dean of Online 40.00
Highest
$154,689 $91,508 $246,197
Corey Williams Seminary Chief Communications Officer 40.00
Highest
$152,919 $27,216 $180,135
John Russell Controller 40.00
Highest
$141,797 $27,596 $169,393
Ryan Zamroz University Sr Dir. of Development 40.00
Highest
$151,274 $5,376 $156,650
Dariu Dumitru Chief Enrollment & Marketing 40.00
Highest
$103,224 $128,004 $231,228
Paul Twiss Seminary Instructor 40.00
Highest
$88,201 $138,377 $226,578
Jade Greenfield Chief Development Officer 40.00
Highest
$111,587 $116,520 $228,107
Thomas Halstead University Dean, School of Biblical Studies 40.00
Highest
$113,634 $104,921 $218,555
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
2023 $85,143,754 $75,532,642 $166,684,429 $9,611,112
2022 $80,766,902 $63,547,849 $147,412,644 $17,219,053
2021 $74,618,505 $55,834,252 $126,279,049 $18,784,253
2020 $53,206,286 $49,555,365 $103,536,998 $3,650,921
2019 $55,465,112 $50,761,489 $95,671,483 $4,703,623
2018 $60,552,843 $56,351,593 $94,710,308 $4,201,250
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