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Midwest University FY2020 filing

Tax-deductible

Wentzville, MO501(c)(3)Colleges & Universities EIN 43-1658069Revenue $1.7M in FY2020

On file with the IRSmidwest.edu851 Parr Rd, 63385-2905 · Wentzville, MOTax-exempt since Aug 2002School — 170(b)(1)(A)(ii)

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Christian institution of higher learning dedicated to the exploration, discernment, sustentation, and dissemination of god's truth. Midwest is committeed to excellence in education encouraging students to comprehensively consider god's word and work to evaluate personal vocational ministries, and to assume christian global responsibilities.

501(c)(3) charity; gifts are tax-deductible.
50¢ of each $1 spent went to programs.
$107K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $486K a year · 20% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
50%
of spending
Concern: 50% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$107K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $32K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$183K
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
Spent
$1.5M
To programs
50%
Net assets
$779K
By yearFY2020–FY2025
Revenue
$1.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$2.6M
FY2023$2.6M
FY2024$2.7M
FY2025$2.7M
Expenses
$1.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$1.9M
FY2023$1.9M
FY2024$2.2M
FY2025$2.2M
Net assets
$779K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$779K
FY2021$1.1M
FY2022$1.8M
FY2023$2.5M
FY2024$3.0M
FY2025$3.5M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $739K Management & general 47% · $706K Fundraising 3% · $43K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $107K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Dr James Song
University President
$67,200Pt VII · Sec A
Kyong Seob Yeom
Director of Finance
$39,600Pt VII · Sec A
Jeff Davidson
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Bryan Spencer
Board Member
$0Pt VII · Sec A
Dr Min Sung Kim
Board Member
$0Pt VII · Sec A
Dr Stephen Combs
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr James Song’s $90K as University President is at the 25th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr James Song$89,900$88,100$85,700$85,200$67,200$67,200
Incheol Jang$61,329$51,600$43,700$15,000——
Kyong Yeom———$47,500——
Kyong S Yeom————$39,600—
Kyong Seob Yeom—————$39,600

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates students to explore God's truth and prepare for Christian service.

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Provided by the organization

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1 program · $739K · in their own filed words · FY2019
01

Midwest university offers bachelor, master, and doctoral degrees in theology, business administration, music, aviation management, counseling, education and leadership.

$739Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
American Asian Performing Arts TheatreFY2025$32K
Total grants receivedfrom 1 funder$32K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Fees for servicesLn 2g$1.6M
Gifts and grantsLn 1h$102K
Money outPt IX
$1.5M
Ln 25
Programscol B$739K
Managementcol C$706K
Fundraisingcol D$43K
Owns and owesPt X
$779K
net assets · Ln 32
Cash and savingsLn 1–2$629K
Total assetsLn 16$961K
LiabilitiesLn 26$183K
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$102K
Fees for servicesLn 2g$1.6M
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$629K
Cash and savings togetherLn 1–2$629K
Land, buildings, equipmentLn 10c$94K
Other assetsLn 15$12K
Total assetsLn 16$961K
LiabilitiesLn 26$183K
Net assetsLn 32$779K
OperationsPt I, VI
EmployeesI 524
VolunteersI 652
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$369K$629K
Land, buildings, equipmentLn 10c$95K$94K
Total assetsLn 16$748K$961K
LiabilitiesLn 26$136K$183K
Net assetsLn 32$611K$779K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$107K$24K$65K$17K
Other salaries and wagesLn 7$444K$155K$283K$6K
Payroll taxesLn 10$37K$19K$16K$1K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$14K$14K
Other fees for servicesLn 11g$110K$53K$56K
Advertising and promotionLn 12$30K$18K$4K$7K
Office expensesLn 13$73K$31K$40K$3K
OccupancyLn 16$326K$169K$157K
Conferences, conventions and meetingsLn 19$58K$20K$31K$7K
InterestLn 20$472$425$47
Depreciation, depletion and amortizationLn 22$23K$16K$7K
InsuranceLn 23$24K$11K$13K
Other expenses (24a–d)Ln 24$231K$221K$10K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$1.5M$739K$706K$43K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.7M$2.2M$534K$3.5M 990 PDF
FY2024 $2.7M$2.2M$453K$3.0M 990 PDF
FY2023 $2.6M$1.9M$714K$2.5M 990 PDF
FY2022 $2.6M$1.9M$697K$1.8M 990 PDF
FY2021 $2.0M$1.6M$351K$1.1M 990 PDF
FY2020 Viewing $1.7M$1.5M$167K$779K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,655,482 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $71,643$101,809
I-9 Program service revenuePrior year $1,782,802$1,554,232
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $8,667−$559
I-12 Total revenuePrior year $1,863,112$1,655,482
I-13 Grants and similar amounts paidPrior year $1,216$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $618,954$587,794
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,028,776$900,231
I-18 Total expensesPrior year $1,648,946$1,488,025
I-19 Revenue less expensesPrior year $214,166$167,457
Part VI · Governance 6 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,655,482 across 5 lines filed
VIII-1f All other contributions, gifts and grants$101,809
VIII-1h Total contributions, gifts and grants$101,809
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,554,232$1,554,232
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$559−$559
VIII-12 Total revenueRelated to mission $1,554,232 · Unrelated business $0 · Excluded from tax −$559$1,655,482
Part IX · Statement of functional expenses $1,488,025 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $24,120 · Management $65,280 · Fundraising $17,400$106,800
IX-7 Other salaries and wagesPrograms $155,044 · Management $282,758 · Fundraising $6,457$444,259
IX-10 Payroll taxesPrograms $19,246 · Management $16,055 · Fundraising $1,434$36,735
IX-11b Legal feesManagement $9,227$9,227
IX-11c Accounting feesManagement $14,400$14,400
IX-11g Other fees for servicesPrograms $53,461 · Management $56,148$109,609
IX-12 Advertising and promotionPrograms $17,888 · Management $4,472 · Fundraising $7,454$29,814
IX-13 Office expensesPrograms $30,800 · Management $39,661 · Fundraising $2,941$73,402
IX-16 OccupancyPrograms $168,837 · Management $156,729$325,566
IX-19 Conferences, conventions and meetingsPrograms $19,598 · Management $30,792 · Fundraising $7,258$57,648
IX-20 InterestManagement $425 · Fundraising $47$472
IX-22 Depreciation, depletion and amortizationPrograms $16,064 · Management $6,885$22,949
IX-23 InsurancePrograms $11,241 · Management $12,892$24,133
IX-24 Other expenses (24a–d)Programs $220,896 · Management $10,300$231,196
IX-24e All other expensesPrograms $1,815$1,815
IX-25 Total functional expensesPrograms $739,010 · Management $706,024 · Fundraising $42,991$1,488,025
Part X · Balance sheet $961,302 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $369,375$629,415
X-3 Pledges and grants receivableStart of year $191,999$178,382
X-4 Accounts receivableStart of year $70,928$45,853
X-9 Prepaid expenses and deferred chargesStart of year $8,247$1,087
X-10c Land, buildings and equipment, netStart of year $94,976$94,486
X-15 Other assetsStart of year $12,079$12,079
X-16 Total assetsStart of year $747,604$961,302
X-17 Accounts payable and accrued expensesStart of year $51,704$27,927
X-19 Deferred revenueStart of year $60,536$42,833
X-25 Other liabilitiesStart of year $3,300$4,500
X-26 Total liabilitiesStart of year $136,418$182,659
X-27 Net assets without donor restrictionsStart of year $419,187$600,261
X-28 Net assets with donor restrictionsStart of year $191,999$178,382
X-32 Total net assets or fund balancesStart of year $611,186$778,643
X-33 Total liabilities and net assetsStart of year $747,604$961,302
Part XI · Reconciliation of net assets $778,643 net assets at year end
XI-1 Total revenue$1,655,482
XI-2 Total expenses$1,488,025
XI-3 Revenue less expenses$167,457
XI-4 Net assets at start of year$611,186
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$778,643

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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