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World Olivet Assembly Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Religion-Related, Spiritual Development / Interfaith Issues (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$17.2M (2023)

Expenses
$14.5M (2023)

Total Assets
$91.6M (2023)

Total Liabilities
$42.1M (2023)

Source: Form 990 tax filings from 2016 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Jan.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$17,208,664
Expenses
$14,511,839
Net Income
$2,696,825
Net Assets
$49,482,827
Notable Sources of Revenue Percent of Total Revenue
Contributions $15,442,048
89.7%
Program Services $570,000
3.3%
Investment Income $24
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $1,196,592
7.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $75,000
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $91,611,996
Total Liabilities $42,129,169
Net Assets $49,482,827
Compensation
Key Employees and Officers Compensation Related Other
Marian Spisak (Executive Dir.) $50,000 $0 $0
Chunmei Fu (Associate Pasto) $25,000 $0 $0
Alma Osorio (Trustee) $0 $0 $0
David Chang (Chairman) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$20,041,957
Expenses
$19,890,260
Net Income
$151,697
Net Assets
$46,786,002
Notable Sources of Revenue Percent of Total Revenue
Contributions $18,084,238
90.2%
Program Services $770,000
3.8%
Investment Income $3,736
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $1,183,983
5.9%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $107,500
0.5%
Professional Fundraising Fees $0
Other Salaries and Wages $472,557
2.4%
Assets/Debt
Total Assets $85,253,007
Total Liabilities $38,467,005
Net Assets $46,786,002
Compensation
Key Employees and Officers Compensation Related Other
Marian Spisak (Executive Dir.) $59,500 $0 $0
Chunmei Fu (Associate Pasto) $30,000 $0 $0
Kristian Goropevsek (Director Of Int) $18,000 $0 $0
Alma Osorio (Trustee) $0 $0 $0
David Chang (Chairman) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$19,940,573
Expenses
$14,398,475
Net Income
$5,542,098
Net Assets
$44,320,175
Notable Sources of Revenue Percent of Total Revenue
Contributions $16,636,298
83.4%
Program Services $1,100,000
5.5%
Investment Income $205,643
1.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $1,998,632
10.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $61,500
0.4%
Professional Fundraising Fees $0
Other Salaries and Wages $417,040
2.9%
Assets/Debt
Total Assets $79,385,936
Total Liabilities $35,065,761
Net Assets $44,320,175
Compensation
Key Employees and Officers Compensation Related Other
Marian Spisak (Executive Dir.) $54,000 $0 $0
Alma Osorio (Trustee) $0 $0 $0
David Chang (Chairman) $0 $0 $0
Kristian Goropevsek (Director Of Int) $0 $0 $0
Chunmei Fu (Associate Pasto) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$17,699,333
Expenses
$13,591,850
Net Income
$4,107,483
Net Assets
$38,778,077
Notable Sources of Revenue Percent of Total Revenue
Contributions $14,809,191
83.7%
Program Services $1,300,000
7.3%
Investment Income $53,320
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $1,536,822
8.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $118,500
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $197,028
1.4%
Assets/Debt
Total Assets $64,566,989
Total Liabilities $25,788,912
Net Assets $38,778,077
Compensation
Key Employees and Officers Compensation Related Other
Mark Spisak (Trustee) $54,000 $0 $0
Juan We Chiu (General Secretary) $40,000 $0 $0
Seon Mi Seok (Director Of Education) $12,000 $0 $0
Miyeon Im (Director Of Mission) $7,500 $0 $0
John Vivian (Trustee) $5,000 $0 $0
David Chang (Chairman) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$16,262,364
Expenses
$11,180,459
Net Income
$5,081,905
Net Assets
$34,670,594
Notable Sources of Revenue Percent of Total Revenue
Contributions $13,050,613
80.3%
Program Services $2,366,929
14.6%
Investment Income $59,050
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $785,772
4.8%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $95,400
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $218,007
1.9%
Assets/Debt
Total Assets $51,135,067
Total Liabilities $16,464,473
Net Assets $34,670,594
Compensation
Key Employees and Officers Compensation Related Other
Juan We Chiu (General Secretary) $52,000 $0 $0
Seon Mi Seok (Director Of Education) $38,900 $0 $0
Mark Spisak (Trustee) $4,500 $0 $0
David Chang (Chairman) $0 $0 $0
John Vivian (Trustee) $0 $0 $0
Miyeon Im (Director Of Mission) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$16,463,681
Expenses
$11,083,437
Net Income
$5,380,244
Net Assets
$29,588,689
Notable Sources of Revenue Percent of Total Revenue
Contributions $14,872,750
90.3%
Program Services $750,000
4.6%
Investment Income $11,491
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $829,440
5.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $134,300
1.2%
Professional Fundraising Fees $0
Other Salaries and Wages $282,524
2.5%
Assets/Debt
Total Assets $43,088,629
Total Liabilities $13,499,940
Net Assets $29,588,689
Compensation
Key Employees and Officers Compensation Related Other
Seon Mi Seok (Director Of Education) $49,800 $0 $0
Juan We Chiu (General Secretary) $48,000 $0 $0
Miyeon Im (Director Of Mission) $32,500 $0 $0
John Vivian (Trustee) $4,000 $0 $0
David Chang (Chairman) $0 $0 $0
Mark Spisak (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$24,090,411
Expenses
$10,550,820
Net Income
$13,539,591
Net Assets
$24,458,445
Notable Sources of Revenue Percent of Total Revenue
Contributions $22,384,954
92.9%
Program Services $1,000,000
4.2%
Investment Income $1,457
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $704,000
2.9%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $111,700
1.1%
Professional Fundraising Fees $0
Other Salaries and Wages $188,214
1.8%
Assets/Debt
Total Assets $33,782,077
Total Liabilities $9,323,632
Net Assets $24,458,445
Compensation
Key Employees and Officers Compensation Related Other
Mark Spisak (Trustee) $54,000 $0 $0
Anthony Juan We Chiu (General Secretary) $48,000 $0 $0
Seon Mi Seok (Director Of Education) $8,300 $0 $0
Miyeon Im (Director Of Mission) $3,500 $0 $0
David Chang (Chairman) $0 $0 $0
John Vivian (Trustee) $0 $0 $0
Ginturn Tran (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Jan.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$17,690,173
Expenses
$2,499,512
Net Income
$15,190,661
Net Assets
$15,194,308
Notable Sources of Revenue Percent of Total Revenue
Contributions $17,690,069
100.0%
Program Services $0
Investment Income $104
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $50,780
2.0%
Professional Fundraising Fees $0
Other Salaries and Wages $95,898
3.8%
Assets/Debt
Total Assets $28,293,346
Total Liabilities $13,099,038
Net Assets $15,194,308

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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