2024-03-05T02:50:47-00:00 2022-12-31 581910650 The Wesley Peachtree Group CPAs 1475 Klondike Road Suite 100 Conyers GA 30094 990 2022-01-01 205239134 Reformed University Inc REFO 7702322717 1724 Atkinson Road Lawrenceville GA 300435604 Dr Jin O Jeong President 7702322717 2024-02-26 true Dr Jin Jeong 999009999 true Dane Alexander P01684380 4048740555 2024-02-26 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X Dr Jin O Jeong 1724 Atkinson Road Lawrenceville GA 30043 1761834 false X www.runiv.edu X 2012 GA Provide education in theology, divinity, religious education, ministerial training, business and organizational leadership. 5 5 16 2 0 27726 114298 1461007 1647492 0 44 1488733 1761834 1050 26596 0 57250 102250 0 0 711899 978535 770199 1107381 718534 654453 2644823 3416542 1274151 1391417 1370672 2025125 X Provide education in theology, divinity, religious education, ministerial training, business and organizational leadership. false false 686991 26596 1647492 A Christian institution committed to excellence in theological education based in the Reformed Christian tradition, and a competitive business school, dedicated to preparing our students to the challenges of the marketplace. 686991 true false false false false false false false false false true false false false true true true false true false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 40 0 16 true false false false false false false false false false false false false X 5 5 false true false false false false false true true false true true true true true true false true true true false GA X Bolor Purevragchaa 7702322717 1724 Atkinson Road Lawrenceville GA 30043 Dr Jin O Jeong President 040.00 001.00 X 54750 0 0 Sung Eun Hwang Vice President 040.00 001.00 X 44500 0 0 Bolor Purevragchaa Chief Financial Officer 040.00 001.00 X 3000 0 0 Pyeong Rack Jeong Chair 001.00 001.00 X X 0 0 0 Dennis Duane Didion Vice Chair 001.00 001.00 X X 0 0 0 Dong Soon Park Trustee 001.00 001.00 X 0 0 0 Seok Won Sohn Trustee 001.00 001.00 X 0 0 0 Moon Sook Kim Trustee 001.00 001.00 X 0 0 0 Dr Jae Sig Park Former President 040.00 001.00 X 0 0 0 102250 false false false X 114298 114298 Tuition and fees 611420 1647492 1647492 1647492 Other Income 900099 44 44 44 1761834 1647536 X 0 26596 26596 0 0 102250 102250 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Instruction 550512 550512 Academic Support 107102 107102 Student Services 2781 2781 Institutional Support 318140 318140 0 1107381 686991 420390 0 X 1472935 2239360 64252 17028 400000 360000 1026232 230484 707636 795748 4406 2644823 3416542 65687 87216 724878 822428 333586 327961 150000 149406 4406 1274151 1391417 X 1370672 2025125 1370672 2025125 2644823 3416542 X 654453 X X false false X true false X false 259740 259740 461760 108138 353622 188000 16412 171588 80932 70134 10798 35800 35800 795748 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Lease liability - copier 4406 4406 X 1761834 1761834 1761834 1107381 1107381 1107381 X 2 The University qualifies for the charitable contribution deduction under Section 170b1A and has been classified as an organization other than a private foundation under Section 509a2. Accounting principles generally accepted in the United States of America require the Universitys management to evaluate tax positions taken by the University and to recognize a liability or asset if the University has taken an uncertain tax position that will more-likely-than-not be sustained upon examination by taxing authorities. Management has analyzed the tax position taken by the University for the year ended December 31, 2022 and believes there are no such positions as of December 31, 2022. Accordingly, no asset or liability has been accrued. true true true true true true true false false false false false false false false true false true 6a The University offers scholarships and student financial aid to assist with meeting the students financial obligations. The Financial Aid Office has the necessary policies and procedures to ensure that the University adheres to and complies with federal regulations regarding eligibility for student financial aid. Requirements for receiving scholarships depend upon other factors, such as grade point average, family income or economic need. 6b The University has not complied with certain administrative requirements for participation in the Title IV programs and the request for funds has been restricted. Accordingly, the University is not allowed to receive any Title IV funds from the U.S. Department.of Education. true Privately Funded Student Scholarships 8 26596 Part III Line 1 All scholarships are awarded based upon specific criteria maintained by the financial aid office. Requirements for receiving scholarships depend upon other factors, such as grade point average, family income or economic need. The Universitys financial aid staff monitors the eligibility guidelines to ensure compliance. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the President. Upon completion of the Presidents review, the return is submitted to the Board of Trustees for their approval. The Board of Trustees directs any recommended revisions to the President and Chief Financial Officer for consideration. Form 990, Part VI, Section B, Line 12c Board members shall disclose to the Board any possible conflict of interest at the earliest practical time. A Board member shall not vote on any matter, under consideration at a Board or committee meeting, in which the member has a conflict of interest. The minutes of such meeting shall reflect that a disclosure was made and that the member having a conflict of interest abstained from voting. Any Board member who is uncertain whether a conflict of interest may exist in any matter may request the Board or committee to resolve the question by a majority vote. Form 990, Part VI, Section B, Line 15a The compensation for the University President is determined and approved by the Board. Form 990, Part VI, Section B, Line 15b The compensation for the officers and key employees is determined and approved by the President. Form 990, Part VI, Section B, Line 19 The University makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Form 990, Part XII, Line 3b The University is in the process of undergoing the required audits. Form 990, Part III, Line 4a Since the Universitys financial statement audit was finalized subsequent to the filing of the 2022 Form 990, an amendment of the Form 990 is required. Program expense amount have been updated. Form 990, Part IV, Line 11f Updated per the amendment noting separate independent audited financial statements have been obtained and the referenced footnote disclosure was included. Form 990, Part IV, Line 12a Updated per the amendment noting separate independent audited financial statements have been obtained. Therefore, Schedule D, Parts XI and XII have been completed. Form 990, Part VIII, Line 12 Revenue has been updated per the amendment. Form 990, Part IX, Line 25 Functional expenses have been updated per the amendment. Form 990, Part X, Line 16, 33 Balance sheet amounts, including assets, liabilities and net assets, have been updated per the amendment. Form 990, Part XI, Line 10 Reconcilation of net assets has been updated per the amendment therefore, associated disclosed amounts in Schedule D have been amended. Form 990, Part XII, Line 2b Per the amendment, the University s financial statements have been audited on a separate basis.