Washington University of Virginia

The information on this page was last updated 9/14/2022. 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: 5

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

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Transparency grade

A

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Financial efficiency ratings

Sector: Colleges/Universities

CategoryRatingOverall rankSector rank
Overall efficiency rating692 of 103390 of 117
Fund acquisition rating581 of 103568 of 117
Resource allocation rating515 of 103555 of 117
Asset utilization rating745 of 103394 of 117

Financial ratios

Funding ratiosSector median20212020201920182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
13%14%95%86%119%85%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%2%2%1%1%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
14%16%3%1%1%2%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
2%3%3%1%1%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
86%84%97%99%99%98%
 
Operating ratiosSector median20212020201920182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%86%88%91%91%91%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%67%84%83%84%87%
Program output ratio Program output ratio =
Program services /
Total revenue
80%57%74%75%77%79%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%33%16%17%16%13%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%21%12%16%16%14%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
13%11%10%7%8%8%
 
Investing ratiosSector median20212020201920182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.500.270.350.390.420.39
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.712.322.793.644.705.28
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.600.620.961.431.962.05
 
Liquidity ratiosSector median20212020201920182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.3836.4344.4030.7815.7710.94
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.160.030.020.030.060.09
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.9718.7512.198.105.755.32
 
Solvency ratiosSector median20212020201920182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
26%37%46%47%52%59%
Debt ratio Debt ratio =
Debt /
Total assets
16%36%45%46%51%58%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
140%233%156%135%115%105%

Financials

Balance sheet
 
Assets20212020201920182017
Cash$3,511,344$2,658,855$1,800,057$1,278,904$1,121,797
Receivables, inventories, prepaids$33,599$44,466$54,822$57,612$58,726
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$3,544,943$2,703,321$1,854,879$1,336,516$1,180,523
Long-term investments$0$0$0$0$0
Fixed assets$4,673,646$4,810,583$4,856,194$4,901,734$5,030,702
Other long-term assets$9,507$17,113$36,828$44,434$21,860
Total long-term assets$4,683,153$4,827,696$4,893,022$4,946,168$5,052,562
Total assets$8,228,096$7,531,017$6,747,901$6,282,684$6,233,085
 
Liabilities20212020201920182017
Payables and accrued expenses$42,071$14,770$13,085$14,976$17,803
Other current liabilities$55,233$46,121$47,175$69,762$90,121
Total current liabilities$97,304$60,891$60,260$84,738$107,924
Debt$2,983,316$3,417,945$3,113,143$3,185,714$3,594,642
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$1$0$0$0
Total long-term liabilities$2,983,316$3,417,946$3,113,143$3,185,714$3,594,642
Total liabilities$3,080,620$3,478,837$3,173,403$3,270,452$3,702,566
 
Net assets20212020201920182017
Without donor restrictions$5,147,476$4,052,180$3,574,498$3,012,232$2,530,519
With donor restrictions$0$0$0$0$0
Net assets$5,147,476$4,052,180$3,574,498$3,012,232$2,530,519
 
Revenues and expenses
 
Revenue20212020201920182017
Total contributions$524,049$77,629$44,769$32,350$42,143
Program service revenue$2,708,601$2,923,114$3,091,674$2,980,545$2,659,086
Membership dues$0$0$0$0$0
Investment income$2,240$1,751$2,121$3,128$2,327
Other revenue$66,347$77,014$80,901$80,355$79,049
Total other revenue$2,777,188$3,001,879$3,174,696$3,064,028$2,740,462
Total revenue$3,301,237$3,079,508$3,219,465$3,096,378$2,782,605
 
Expenses20212020201920182017
Program services$1,887,590$2,278,285$2,427,367$2,374,275$2,196,744
Management and general$243,816$249,466$191,251$201,911$188,722
Fundraising$74,535$74,075$38,581$38,479$35,797
Total expenses$2,205,941$2,601,826$2,657,199$2,614,665$2,421,263
 
Change in net assets20212020201920182017
Surplus (deficit)$1,095,296$477,682$562,266$481,713$361,342
Other changes in net assets$0$0$0$0$0
Total change in net assets$1,095,296$477,682$562,266$481,713$361,342

Compensation

NameTitleCompensation
Dr Peter M ChangExecutive Dir.$130,000
Joyce Gunhee ParkVP of Admin.$85,031

Compensation data as of: 6/30/2021


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 9/14/2022. 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).


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