Washington University of Virginia 
The information on this page was last updated 5/29/2023. If you see errors or omissions, please email: [email protected]
Summary
Every good tree bears good fruit. This is the principle of our philosophy. All people are created equal, with fundamental duties and rights, including social-economical duties and rights to pursue happiness. At Washington University of Virginia, we are committed to help our students bear good fruit in life and contribute to the community.
Contact information
Mailing address:
Washington University of Virginia
4300 Evergreen Lane
Annandale, VA 22003
Website: wuv.edu
Phone: 703-333-5904
Email: [email protected]
Organization details
EIN: 541370198
CEO/President: Dr. Peter M. Chang
Chairman: Daniel Hwang
Board size: 9
Founder: local Korean-American pastors
Ruling year: 1991
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 2008
Purpose
Formation of Character: This is the ultimate goal of our education. Bearing good fruit is tied to the state of the tree. Likewise, the measure of one's success must also accompany the measure of one's character. The formation of character, therefore, is our foremost important educational aim that we must strive to achieve.
Mission statement
To develop men and women of character and leadership by inculcating quality Christian education through healthy institutional services so that they make meaningful contributions to the world
Statement of faith
We believe that there is one God, eternally existing in three persons: Father, Son, and Holy Spirit.
We believe the Bible to be inspired, the one infallible, authoritative Word of God.
We believe in the deity of our Lord Jesus Christ, in His virgin birth, in His sinless life, in His miracles, in His vicarious atonement through His shed blood, in His bodily resurrection, in His ascension to the right hand of the Father, and in His personal and visible return in power and glory.
We believe that man was created in the image of God, that he was tempted by Satan and fell, and that, because of the exceeding sinfulness of human nature, regeneration by the Holy Spirit is absolutely necessary for salvation.
We believe in the present ministry of the Holy Spirit by whose indwelling the Christian is enabled to live a godly life, and by whom the church is empowered to carry out Christ's great commission.
We believe in the bodily resurrection of both the saved and the lost, those who are saved unto the resurrection of life and those who are lost unto the resurrection of damnation.
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 913 of 1118 | 119 of 130 |
| Fund acquisition rating | | 959 of 1119 | 117 of 130 |
| Resource allocation rating | | 582 of 1119 | 67 of 130 |
| Asset utilization rating | | 755 of 1118 | 104 of 130 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 35% | 9% | 14% | 95% | 86% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 4% | 2% | 2% | 2% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 18% | 10% | 28% | 16% | 3% | 1% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 4% | 3% | 3% | 3% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 82% | 90% | 72% | 84% | 97% | 99% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 83% | 85% | 86% | 88% | 91% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 96% | 70% | 67% | 84% | 83% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 80% | 59% | 57% | 74% | 75% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | 4% | 30% | 33% | 16% | 17% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | 2% | 16% | 21% | 12% | 16% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 13% | 12% | 11% | 10% | 7% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.26 | 0.26 | 0.27 | 0.35 | 0.39 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.61 | 1.96 | 2.02 | 2.32 | 2.79 | 3.64 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.41 | 0.50 | 0.52 | 0.62 | 0.96 | 1.43 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 7.92 | 66.74 | 75.26 | 36.43 | 44.40 | 30.78 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.13 | 0.01 | 0.01 | 0.03 | 0.02 | 0.03 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.43 | 23.66 | 22.73 | 18.75 | 12.19 | 8.10 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 32% | 32% | 37% | 46% | 47% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 31% | 32% | 36% | 45% | 46% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 267% | 263% | 233% | 156% | 135% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $4,660,440 | $4,458,969 | $3,511,344 | $2,658,855 | $1,800,057 |
| Receivables, inventories, prepaids | $33,126 | $35,927 | $33,599 | $44,466 | $54,822 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $4,693,566 | $4,494,896 | $3,544,943 | $2,703,321 | $1,854,879 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $4,451,577 | $4,601,575 | $4,673,646 | $4,810,583 | $4,856,194 |
| Other long-term assets | $45,105 | $1,902 | $9,507 | $17,113 | $36,828 |
| Total long-term assets | $4,496,682 | $4,603,477 | $4,683,153 | $4,827,696 | $4,893,022 |
| Total assets | $9,190,248 | $9,098,373 | $8,228,096 | $7,531,017 | $6,747,901 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $9,645 | $24,746 | $42,071 | $14,770 | $13,085 |
| Other current liabilities | $60,678 | $34,980 | $55,233 | $46,121 | $47,175 |
| Total current liabilities | $70,323 | $59,726 | $97,304 | $60,891 | $60,260 |
| Debt | $2,849,739 | $2,890,860 | $2,983,316 | $3,417,945 | $3,113,143 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $17,992 | $0 | $0 | $1 | $0 |
| Total long-term liabilities | $2,867,731 | $2,890,860 | $2,983,316 | $3,417,946 | $3,113,143 |
| Total liabilities | $2,938,054 | $2,950,586 | $3,080,620 | $3,478,837 | $3,173,403 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $6,252,194 | $6,147,787 | $5,147,476 | $4,052,180 | $3,574,498 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $6,252,194 | $6,147,787 | $5,147,476 | $4,052,180 | $3,574,498 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $245,967 | $922,500 | $524,049 | $77,629 | $44,769 |
| Program service revenue | $2,056,672 | $2,352,215 | $2,708,601 | $2,923,114 | $3,091,674 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $58,079 | $771 | $2,240 | $1,751 | $2,121 |
| Other revenue | $88,241 | $66,250 | $66,347 | $77,014 | $80,901 |
| Total other revenue | $2,202,992 | $2,419,236 | $2,777,188 | $3,001,879 | $3,174,696 |
| Total revenue | $2,448,959 | $3,341,736 | $3,301,237 | $3,079,508 | $3,219,465 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $1,948,305 | $1,984,507 | $1,887,590 | $2,278,285 | $2,427,367 |
| Management and general | $308,963 | $275,747 | $243,816 | $249,466 | $191,251 |
| Fundraising | $87,284 | $81,171 | $74,535 | $74,075 | $38,581 |
| Total expenses | $2,344,552 | $2,341,425 | $2,205,941 | $2,601,826 | $2,657,199 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | $104,407 | $1,000,311 | $1,095,296 | $477,682 | $562,266 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $104,407 | $1,000,311 | $1,095,296 | $477,682 | $562,266 |
Compensation
| Name | Title | Compensation |
| Dr Peter M Chang | Executive Dir. | $140,000 |
| Joyce Gunhee Park | VP of Admin. | $102,556 |
Compensation data as of: 6/30/2023
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/29/2023. To update the information below, please email: [email protected]
History
Early 1980's a group of local Korean-American pastors envisioned building a higher learning institution in a Christian environment targeting solely Korean-American immigrants in the Washington D.C.
metropolitan area, and so Washington Baptist University started with a primary purpose of providing training for pastors and laypersons in various church ministries.
In September 1982, Dr. Edwin was appointed the first President. In May 1984, the Baptist College and Seminary of Washington (BCSW) campus was relocated to the Columbia Baptist Church in Falls Church,
VA and Dr. David Kim was appointed the second President.
The Virginia State Board of Higher Education recognized BCSW as a licensed educational institution as well as a non-profit organization in November 1984. The Council of Higher Education of the
Commonwealth of Virginia authorized BCSW to grant religious degrees such as Associate of Divinity, Bachelor of Theology, Master of Religious Education, Master of Divinity, and Doctor of Ministry.
In March 1993, the Immigration and Naturalization Service (INS) granted the BCSW the privilege to issue the Form I-20 to qualified international students.
Dr. Dwight D. Kim became the third President of BCSW in May 1997. BCSW began the English as a Second Language (ESL) program, and began raising the necessary funds to buy its own academic site.
In May 2000, Dr. Won H. Lee was appointed the interim President, and in September of that year BCSW underwent an administrative reorganization.
Dr. Johng O. Lee became the fourth President of BCSW in May 2002. During the summer of 2002, the seminary degree programs began to be operated under the name of Washington Baptist Theological Seminary.
In November 2003, the campus was relocated to Annandale, VA, and in February 2004, the name was changed to Washington Baptist University. It joined the Association of Theological Schools in the United
States and Canada (ATS) as an associate member in June 2004.
In July 2004, the State Council of Higher Education for Virginia (SCHEV) certified WBU to grant B.A., B.S., M.A., M.R.E., M.Div., Th.M., D.Min., and Ph.D. degrees. The present building at 4300 Evergreen
Lane, Annandale, VA 22003, was purchased by WBU on November 5, 2004.
Dr. Jacob S. Shin was appointed as Interim President on August 1, 2006, and the Board installed him as the fifth President of WBU on December 15, 2006.
On February 12, 2007, WBU was granted candidate status by the ATS.
In August 2007, the institution acquired additional property on the south side of the existing main campus building in order to accommodate the steady growth of the institution.
In August 2007 WBU opened its Maryland site in Burtonsville, MD and in August 2008, the site moved to Ellicott City, MD.
On May 18, 2009, Dr. Peter M. Chang was appointed as Interim President and then on August 1, 2009 the Board of Directors of WBU installed Dr. Chang as its sixth President.
On February 15, 2013, WBU was granted the initial accreditation status by the Association for Biblical Higher Education (ABHE).
On May 30, 2014 the Maryland Higher Education Commission certified the Maryland site of the thenWBU to grant B.A., B.S., M.A., M.R.E., M.Div., and M.B.A. degrees.
On October 11, 2014, the Seminary of WBU was renamed as the Neal T. Jones Seminary.
On January 15, 2015, WBU was renamed as the Washington University of Virginia (WUV).
On June 12, 2017, Neal T. Jones Seminary of Washington University of Virginia was granted the initial accreditation by the Association of Theological Schools in the United States and Canada (ATS) and the
MD site was approved as a complete degree-granting site for M.Div. and M.C.C. degrees.
On December 20, 2018, The Business School of WUV was granted the initial accreditation by the International Accreditation Council for Business Education (IACBE).
On March 6, 2019, WUV received reaffirmation of its accreditation by the ABHE until 2028.
On May 31, 2019, WUV permanently closed its extension site in Maryland.
On April 21, 2020, WUV was granted the initial accreditation by the Transnational Association of Christian Colleges and Schools (TRACS).