The Master's University and Seminary (EIN 956001907) - Form 990 Financial Analysis & Trantor Score

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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

1927

Legal Domicile

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

Christian liberal arts college and theological seminary existing to advance the Kingdom of the Lord

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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 $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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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

1262

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

$529,544

Total Directors

$257,786

Key Employees

Highest Compensated

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

The Master's University and Seminary