The Master's University and Seminary
The Master's University and Seminary reported $85.1 million in revenue and $75.5 million in expenses for the fiscal year ending June 30, 2023. Of every $100 it spent, $87.21 went to program services, $8.83 to management and general costs and $3.96 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 73.4% of the total. The highest compensation it reported for one person was $313,206 (CFO & VP of Administration). 39 people received more than $100,000 in reportable compensation. Revenue rose 60% between FY2020 and FY2023. Source: Form 990, FY2023.
Where $100 of spending went
The fiscal year ending June 30, 2023 · Form 990, Part IX, line 25 · total expenses $76MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2023 · Form 990, Part VIII · total revenue $85M- Contributions & grants (non-government)$25.41 $22M
- Government grants$0.18 $155K
- Program service revenue$73.32 $62M
- Investment income$1.09 $923K
Other revenue was negative: −$37,438. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2023 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 87.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.8% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.14 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 25.6% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.2% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 73.4% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $313,206 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.41% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 39 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 18.8 | 13.3 |
| Independent voting board members Part VI 1a–1b | 10 of 15 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2023 · Form 990, Part III · the three largest programs by expenseUndergraduate 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
Highest reported compensation
FY2023 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CFO & VP of Administration Officer, 40.00 hrs/week | $133,704 | $0 | $179,502 | $313,206 |
| Provost and Dean of Online Highest compensated employee, 40.00 hrs/week | $154,689 | $0 | $91,508 | $246,197 |
| University VP of Development Highest compensated employee, 40.00 hrs/week | $229,950 | $0 | $7,780 | $237,730 |
| Chief Enrollment & Marketing Highest compensated employee, 40.00 hrs/week | $103,224 | $0 | $128,004 | $231,228 |
| Chief Development Officer Highest compensated employee, 40.00 hrs/week | $111,587 | $0 | $116,520 | $228,107 |
| Seminary Instructor Highest compensated employee, 40.00 hrs/week | $88,201 | $0 | $138,377 | $226,578 |
| Dean, School of Biblical Studies Highest compensated employee, 40.00 hrs/week | $113,634 | $0 | $104,921 | $218,555 |
| Seminary Chief Communications Officer Highest compensated employee, 40.00 hrs/week | $152,919 | $0 | $27,216 | $180,135 |
39 people received more than $100,000 in reportable compensation from The Master's University and Seminary (Part VII, line 2). Compensation of current officers, directors and key employees totaled $689K (Part IX, line 5).
4 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2023 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 10 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 51,262
- Volunteers Part I, line 650
Largest outside contractors
FY2023 · Form 990, Part VII, Section B · businesses only| Bon Appetit Management Company Food Service | $2,401,616 |
| BJ Development & Construction Construction | $1,382,700 |
| EBM Inc Janitorial | $422,429 |
| WeKreative Design Group Marketing | $376,831 |
| Faithlife Software Licenses | $317,766 |
Individuals listed as contractors are left out. 29 contractors were paid more than $100,000 in all.
Private foundation grants it received
15 private foundations reported grants to The Master's University and Seminary totaling $705K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Master's University and Seminary's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Master's University and Seminary, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Master's University and Seminary spent in FY2023, $87.21 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University of South Carolina Educational FoundationColumbia, SC · revenue $85M · programs 91.0% · FY2025
- Heartland Charter SchoolMaricopa, CA · revenue $85M · programs 89.6% · FY2025
- Marshall University FoundationHuntington, WV · revenue $85M · programs 74.9% · FY2025
- Caldwell UniversityCaldwell, NJ · revenue $85M · programs 85.0% · FY2025
- Dexter SouthfieldBrookline, MA · revenue $85M · programs 85.2% · FY2025
Questions people ask
How much of The Master's University and Seminary's spending goes to programs?
In the fiscal year ending June 30, 2023, The Master's University and Seminary reported that 87.2% of its $75.5 million in expenses went to program services, 8.8% to management and general and 4.0% to fundraising (Form 990, Part IX).
How much does The Master's University and Seminary pay its top executive?
The largest total compensation The Master's University and Seminary reported for one person in the fiscal year ending June 30, 2023 was $313,206, for the role of CFO & VP of Administration (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Master's University and Seminary get its money?
Of $85.1 million in revenue in the fiscal year ending June 30, 2023, 25.6% came from contributions and grants (including 0.2% from government grants) and 73.4% from program service revenue (Form 990, Part VIII).
Is The Master's University and Seminary a registered charity?
The IRS lists EIN 95-6001907 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202420759349301677 · read the filing · XML
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202320489349300222 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202230249349300773 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202100119349301360 · read the filing
All filings for EIN 95-6001907: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.