2024-05-15T11:44:36-05:00 2023-06-30 363990892 Capin Crouse LLP 3200 E Guasti Road Suite 230 Ontario CA 91761 990 2022-07-01 951699394 Fuller Theological Seminary FULL 6265845453 135 N Oakland Avenue Pasadena CA 911820001 Raymond Asad CFO 6265845453 2024-05-15 1 Raymond Asad 999009999 0 Daren Daiga P01074795 5055022746 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z David E Goatley 135 N Oakland Avenue Pasadena CA 911820001 65607017 0 X www.fuller.edu X 1947 CA Provides graduate degrees in Theology,Psychology,Intercultural Studies & operates Psych Center. 29 28 1035 29 45098 0 34166059 24848265 33305571 32884362 329612 627364 -160382 -226351 67640860 58133640 6128943 6808327 0 0 32103458 35094682 6300 0 2567786 18877545 22204569 57116246 64107578 10524614 -5973938 285986246 297698059 46616128 54055356 239370118 243642703 X The Seminary is an international, multi-denominational, post-baccalaureate school of religious learning that prepares students for a wide variety of Christian vocations through its two schools: School of Mission & Theology and School of Psychology & Marriage and Family Therapy. 0 0 37606875 6808327 24877445 Fuller Theological Seminary, embracing the School of Mission and Theology and School of Psychology and Marriage and Family Therapy, is an evangelical, multidenominational, international, and multiethnic community dedicated to the equipping of men and women for the manifold ministries of Christ and his church. The School of Mission and Theology offers students indispensable education for effective leadership in vocations in ministry, missions, the marketplace, and beyond. A rigorous curriculum that integrates biblical learning, theological training, and missiological perspectives equips School of Mission and Theology (SMT) graduates to make an impact in their unique context and calling. Students in Fuller's School of Psychology & Marriage and Family Therapy--a pioneer in the integration of psychology and Christian theology--are equipped to serve with professionalism, grace, and truth. All are trained for their chosen vocations in an environment of clinical excellence, research innovation, and academic distinction. 7482000 1613233 Fuller offers a full range of affordable apartment-style housing options for eligible graduate students and their family members, year round, located in the heart of Pasadena, just minutes away from campus. 4910000 6393684 For 50 years, Fuller Psychological and Family Services (FPFS) has played a vital role in providing high-quality and affordable mental health care to individuals and families in Pasadena and surrounding communities. What makes FPFS unique from other mental health outpatient clinics is that all FPFS therapists are trained to relate to you in a holistic manner - mind, body, and spirit - without imposing a worldview on you. Accordingly, we welcome people of all faith traditions. 49998875 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 2816 0 1 1035 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 29 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AK CA MI NH RI SC WA NV CO X X Carole Reuter 6265845453 135 N Oakland Avenue Pasadena CA 911820001 X David E Goatley President/Trustee 40.00 X X 0 0 0 Mark Labberton Presidentprt yr Trustee (part year)/Pres. Emeritus 40.00 X X 282268 0 90869 Daniel D Meyer Chair/Trustee 0.10 X X 0 0 0 Mary Vermeer Andringa Vice Chair/Trustee 0.10 X X 0 0 0 Daniel L Villanueva Treasurer/Trustee/Chair Ops 0.10 X X 0 0 0 Stephen Aeschbacher Trustee 0.10 X 0 0 0 David L Bere Trustee 0.10 X 0 0 0 Nicholas E Brathwaite Trustee 0.10 X 0 0 0 Wilma Jean Burch Trustee 0.10 X 0 0 0 Kevin T Chan Trustee 0.10 X 0 0 0 Daniel L Chun Trustee 0.10 X 0 0 0 Kathy Drake Trustee 0.10 X 0 0 0 Daniel Fong Trustee 0.10 X 0 0 0 David Fung Trustee 0.10 X 0 0 0 Nathan O Hatch Trustee 0.10 X 0 0 0 Gregory L Headington Trustee 0.10 X 0 0 0 Tom Hsieh Trustee 0.10 X 0 0 0 Tom Lin Trustee/Chair LFD 0.10 X 0 0 0 Jim Mellado Trustee 0.10 X 0 0 0 Shirley A Mullen Trustee 0.10 X 0 0 0 John Ortberg Trustee 0.10 X 0 0 0 Nicholas Pearce Trustee 0.10 X 0 0 0 Clifford L Penner Trustee/Chair TAC 0.10 X 0 0 0 Meritt Lohr Sawyer Trustee 0.10 X 0 0 0 Larry A Smith Trustee 0.10 X 0 0 0 Lip-Bu Tan Trustee 0.10 X 0 0 0 Jody A De Pree Vanderwel Trustee 0.10 X 0 0 0 John Witvliet Trustee 0.10 X 0 0 0 Dale C Wong Trustee/Chair JIC 0.10 X 0 0 0 C Jeffrey Wright Trustee 0.10 X 0 0 0 Raymond M Asad CFO / Secretary 40.00 X 251147 0 6199 Jeffrey Harwell Chief Technology Officer 40.00 X 134441 0 25004 Amos Yong Dean School of Mission and Theology (part year) 40.00 X 61413 0 132432 Theopolis Cosse Dean of School of Psychology 40.00 X 277776 0 7011 Alexis Abernathy Chief Academic Officer 40.00 X 197759 0 12106 Bernadette J O'Halloran Chief of HR 40.00 X 156542 0 22116 Lance Griffin General Counsel 40.00 X 183453 0 35359 Jacob Mulder Exec Dir of LFD & Sr Dir Strategy 40.00 X 167490 0 31166 Steven Simpson Associate Professor 40.00 X 163090 0 2540 Kenneth Tzuchien Wang Professor 40.00 X 150134 0 23662 2025513 0 388464 29 0 1 0 Ellucian Company LP 62578 Collections Center Drive Chicago IL 60693 Admin/Academic Software 600207 Proactive Property Management PO Box 801415 Santa Clarita CA 91380 Property Management 383256 Pyramid Interiors Inc 7435 3rd St Downey CA 90241 Construction 212782 The Hanover Research Council LLC PO Box 38070 Baltimore MD 21297 Research and Analytics 200000 Alice Avenue LLC 1110 E Missouri Ave Ste 200 Phoenix AZ 85014 Property Management 185314 15 1130195 23718070 3824182 24848265 Tuition and Fees 611310 24877445 24877445 Auxiliary Services 611310 6393684 6393684 Psychological Center 611310 1613233 1613233 32884362 582266 582266 4568 4568 656313 887232 -230919 -230919 -230919 6611243 20000 6560546 25599 50697 -5599 45098 45098 58133640 32884362 45098 355915 6808327 6808327 1672187 707945 964242 27270665 21868081 5402584 524701 524701 3733638 3621881 111757 1893491 1815519 77972 78099 78099 110450 110450 591543 591543 6373004 3004300 937170 2431534 420575 365512 55063 3098568 2046198 1052370 845473 845473 4146527 1901198 2245329 2246447 1688815 557632 1545543 1477953 67590 2132799 1692644 440155 615541 615541 Indirect ops/plant exp 0 2475801 -2612053 136252 64107578 49998875 11540917 2567786 40500682 8558114 2560227 40114764 9536753 9006170 2217750 419047 493726 382825 49270 83852 48562 46436 1484810 1576119 128365692 49309030 80187613 79056662 92348196 98918905 7684964 7520068 273396 230089 48600297 51785008 285986246 297698059 5459735 5201915 11578392 19338733 28248325 27760413 452901 202494 876775 1551801 46616128 54055356 X 65229335 63843360 174140783 179799343 239370118 243642703 285986246 297698059 X -5973938 7015057 3231466 X 0 1 X 1 1 1 X 15641451 15640022 22284163 34166059 24848265 112579960 15641451 15640022 22284163 34166059 24848265 112579960 26671635 85908325 1419817 2372614 1464676 1139792 1243147 7640046 218565 271213 98428 588206 120808212 171004983 0.71110 0.66790 X Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 102468050 7869850 6014780 2746095 3840198 109766387 125838083 5775822 -21901988 3033560 4210307 102468050 98803120 4756804 27222654 2149711 2794784 125838083 121594576 4574364 1666000 2253361 4424826 22353533 98803120 123018062 2291041 2979610 1894290 4799847 121594576 0.11290 0.88710 1 0 12727637 12727637 95501136 32590399 62910737 1457570 863535 594035 10229415 10014410 215005 8449934 5840686 2609248 79056662 Beneficial Interest in Perpetual Trusts 4946563 Interest in Investments of Financially Interrelated Entity 12123193 Interest in Trusts of Financially Interrelated Entity 30899720 Interest Rate Swap 1604668 Operating lease - Right of use asset 710864 Co-investment in faculty housing 1500000 51785008 Annuities Payable 451806 Deposits 170461 Perkins Loan Funds Repayable to Fed 127605 Operating Lease Obligation 801929 1551801 61867525 7015057 3231466 10246523 51621002 591543 5921095 6512638 58133640 57594940 887232 887232 56707708 591543 6808327 7399870 64107578 Part V, Line 4: The Organization's endowment consists of over 200 individual funds established for a variety of purposes, primarily for endowed chairs, endowed scholarships, and other program related expenditures. Part XI, Line 2d - Other Adjustments: Change in investments held by financially interrelated entity 1,743,686. Change in beneficial int. in trusts held by fin. interrelated entity 633,655. Change in value of interest rate swaps 854,125. Part XI, Line 4b - Other Adjustments: Scholarships 6,808,327. Rental expenses -887,232. Part XII, Line 2d - Other Adjustments: Rental expenses 887,232. Part XII, Line 4b - Other Adjustments: Scholarships 6,808,327. Schedule D, Part V, Line 1f, column (d): Fuller is in the process of reallocating some of its resources to better meet the future needs of its operations. The first step in this process consisted of reallocating certain investments in real estate to quasi-endowment so that there would be additional sources of funding for new operating initiatives that would better meet the needs of Fuller's students through increased annual endowment withdrawals. Fuller is also in the process of developing its online degrees and program offerings as well as re-defining its degree programs and the required units to better meet the needs of its current and future students. Fuller had made cumulative temporary borrowings against its quasi-endowment to fund operations during prior years of $22,353,533. During the year ended June 30, 2020, the board authorized the undesignation of this amount. Schedule D, Part V, Line 1f column (d) is reporting a net change of $22,353,533 which is inclusive of the $25,713,000 write off and other reclassifications of $3,359,467. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization publicized its racially nondiscriminatory policy on the homepage of its website at all times during its tax year in a manner reasonably expected to be noticed by visitors. Schedule E, Part I, Line 6 Fuller Theological Seminary receives funds for Student Financial Aid from the U.S. Department of Education, through the Federal Direct Loan Program, the Federal Graduate PLUS Loan Program, and the Federal Work-Study Program. Additionally, the seminary also received financial assistance from the Higher Education Emergency Relief Funds (HEERF) as part of the CARES Act. Middle East and North Africa 1 1 Program Services Travel 8883 Europe (including Iceland and Greenland) 1 5 Program Services Travel 3608 2 6 0 0 2 6 12491 0 12491 0 0 0 0 0 0 Part I, line 3: The organization tracked expenditures in accordance with accrual basis of accounting using project reports. Part III Accounting Method: 1 Grant in Aid for Students attending the Organization's Campuses in North America 1854 6283201 Higher Education Emergency Relief Fund (HEERF) 98 525126 Part I, Line 2: The Organization only awards financial assistance or grant-in-aid to individuals who are designated to meet the educational expenses of students attending Fuller Theological Seminary. The Organization has established institutional policies for awarding and monitoring of financial assistance. Each award is done in accordance with the policies and compliance is monitored by senior management, to ensure that the amount and eligibility of individuals is in accordance with established policies. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Mark Labberton Presidentprt yr Trustee (part year)/Pres. Emeritus 234775 0 0 0 47493 0 50307 0 40563 0 373138 0 0 0 Theopolis Cosse Dean of School of Psychology 273728 0 0 0 4048 0 5000 0 2011 0 284787 0 0 0 Raymond M Asad CFO / Secretary 249560 0 0 0 1587 0 5000 0 1199 0 257346 0 0 0 Lance Griffin General Counsel 181750 0 0 0 1703 0 3350 0 32009 0 218812 0 0 0 Alexis Abernathy Chief Academic Officer 196122 0 0 0 1637 0 3800 0 8306 0 209865 0 0 0 Jacob Mulder Exec Dir of LFD & Sr Dir Strategy 167246 0 0 0 244 0 2263 0 28903 0 198656 0 0 0 Amos Yong Dean School of Mission and Theology 60400 0 0 0 1013 0 35600 0 96833 0 193846 0 0 0 Bernadette J O'Halloran Chief of HR 156074 0 0 0 468 0 3300 0 18816 0 178658 0 0 0 Kenneth Tzuchien Wang Professor 149866 0 0 0 268 0 0 0 23662 0 173796 0 0 0 Steven Simpson Associate Professor 162880 0 0 0 210 0 1634 0 905 0 165629 0 0 0 Jeffrey Harwell Chief Technology Officer 134148 0 0 0 293 0 2032 0 22972 0 159445 0 0 0 Part I, Line 1a At times it is deemed necessary for the President to travel first class due to length of travel and/or meeting preparation time required while in flight. The Seminary considers these instances as business related and therefore it is not included in taxable compensation. The Seminary occasionally reimbursed the President and spouse for travel expenses when there is a bonafide business purpose for the spouse to travel to a function or meeting. This is not included in taxable compensation. Pursuant to Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. The President and Dean of SMT met the qualifications for and received a ministerial housing allowance during the tax year. The President is provided with maid services because he hosts functions for the Seminary at his home. This benefit is not included in taxable income. Amos Yong Dean of SMT Housing Loan to Attract Key Employees X 375000 375000 0 1 1 Jeffrey Harwell Chief Technology Officer Housing Loan to Attract Key Employees X 103885 7825 0 1 1 382825 X 24 3824182 Mkt Val at date of gift 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1a The Executive Committee is made up of 10 Trustees and includes the 3 major operational officers. The Executive Committee is authorized to exercise the power and authority of the board between meetings of the board subject to limitation imposed by law or the board. The Executive Committee, however, shall have no power to elect new trustees, select a President or other chief executive officer, or approve any amendment of the Articles of Incorporation or bylaws. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an independent CPA firm and reviewed in detail by the Controller and the office of the CFO. The Controller then provides a complete copy of the return to the chair of the audit committee and to all audit committee members for review. The audit committee follows up with the Controller and CFO on any questions that may arise and a meeting is held to discuss the Form 990 with the Controller, CFO, and independent CPA firm. Once all questions are adequately addressed and all corrections made, the audit committee approves the Form 990 and the Chair of the audit committee recommends approval by the full Board of Trustees. The redacted Form 990 is then provided to the full Board of Trustees prior to filing the return. A full copy of Form 990 would be provided to the Board of Trustees upon request. Form 990, Part VI, Section B, line 12c Annually, officers, trustees, and key employees are required to read the conflict of interest policy and to sign and return a completed conflict of interest statement. These are reviewed by the Director of Compliance & Risk Management. Throughout the year, any transactions undertaken by the Seminary are reviewed for instances of conflict of interest prior to entering into the agreement/transactions. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 The Organization receives from The Association of Theological Schools & The Commission on Accrediting a special purpose report titled "Institutional Peer Profile Report." This report references operating statistics, including salary ranges for all executives, faculty, and staff. The report compares the Organization to a customized list of 20 comparable accredited institutions. Data from this report is utilized by the Executive Committee of the Board of Trustees to set executive salary ranges in a closely competitive and resource limited environment with consideration of effective performance of the individuals. The final decisions are reflected in the compensation packet provided to the President and all officers which would reference approval of the contract in the Executive Committee minutes. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are made available upon request. In addition, our tax return is posted on Guidestar and both our annual audit and tax returns (both the Form 990 and 990-T) are available through our Fuller (external) and Portico (Internal) websites. Form 990, Part VII, column (F): Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C. Form 990, Part XI, line 9: Change in investments held by a related party 1,743,686. Change in beneficial int. in trusts of financially interrelated entity 633,655. Change in interest rate swap 854,125. CGF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 3963438 28242118 Fuller Theological Seminary CEF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 0 0 Fuller Theological Seminary Fuller Endowment Fund LLC 135 N Oakland Ave Pasadena CA 91182 352579788 Investment of endowment funds CA Fuller Theological Seminary Excluded 2342969 89437592 0 -305130 0 0.69940 Charitable Remainder Unitrust (6) Beneficial Interest in Charitable Remainder Unitrust CA Fuller Theological Seminary 1 Charitable Remainder Annuity Trust (1) Beneficial Interest in Charitable Remainder Annuity Trust CA Fuller Theological Seminary 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 Charitable Remainder Unitrust (6) A 10956 Cash Fuller Endowment Fund LLC R 6453355 Cash Fuller Endowment Fund LLC S 6608242 Cash