2023-05-24T13:51:10-05:00 2022-06-30 363990892 Capin Crouse LLP 3200 Guasti Road Suite 230 Ontario CA 91761 990 2021-07-01 951699394 Fuller Theological Seminary FULL 6265845453 135 N Oakland Avenue Pasadena CA 911820001 Raymond Asad CFO 6265845453 2023-05-24 1 Raymond Asad 999009999 Daren Daiga P01074795 5055022746 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z Mark Labberton 135 N Oakland Avenue Pasadena CA 911820001 76200077 0 X www.fuller.edu X 1947 CA Provides graduate degrees in Theology,Psychology,Intercultural Studies & operates Psych Center. 28 27 1067 28 0 467478 22284163 34166059 34421493 33305571 17825202 329612 150595 -160382 74681453 67640860 6703928 6128943 0 0 32702929 32103458 15459 6300 2631076 16582997 18877545 56005313 57116246 18676140 10524614 304802113 285986246 45980807 46616128 258821306 239370118 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 32343950 6128943 25693074 School of Psychology & Marriage and Family Therapy (SOPMFT) - 249 full time equivalent studentsSchool of Mission & Theology (SMT) - 781 full time equivalents 7193000 1738945 Two Psychological Centers - Student trainees provided counseling services to members of the community. 4542000 5873552 Auxiliary enterprise revenue. 44078950 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 3560 0 1 1067 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 27 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 X X Carole Reuter 6265845453 135 N Oakland Avenue Pasadena CA 911820001 X Mark Labberton President/Trustee 40.00 X X 223855 0 89213 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 Wilma Jean Burch Secretary/Trustee 0.10 X X 0 0 0 Daniel L Villanueva Treasurer/Trustee/Chair Ops 0.10 X X 0 0 0 Andrew H Crouch Trustee/Chair LFD 0.10 X 0 0 0 Clifford L Penner Trustee/Chair TAC 0.10 X 0 0 0 Dale C Wong Trustee/Chair JIC 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 Barbara H Carlsberg 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 Maryann Coyne Trustee 0.10 X 0 0 0 Kathy Drake Trustee 0.10 X 0 0 0 Evelyn W Freed 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 Bill Sung-Kook Hwang Trustee 0.10 X 0 0 0 Willie James Jennings Trustee 0.10 X 0 0 0 Tom Lin Trustee 0.10 X 0 0 0 Jim Mellado Trustee 0.10 X 0 0 0 Nicholas Pearce Trustee 0.10 X 0 0 0 Jack D Samuelson Trustee 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 Jody A De Pree Vanderwel Trustee 0.10 X 0 0 0 C Jeffrey Wright Trustee 0.10 X 0 0 0 Raymond M Asad CFO 40.00 X 251142 0 5766 Jeffrey Harwell Chief Technology Officer 40.00 X 130715 0 23858 Amos Yong Dean, School of Mission and Theology 40.00 X 74349 0 127892 Theopolis Cosse Dean of School of Psychology 40.00 X 285022 0 6346 Alexis Abernathy Chief Academic Officer 40.00 X 170305 0 11462 Bernadette O'Halloran Chief of HR 40.00 X 150995 0 21680 Lance Griffin General Counsel 40.00 X 151411 0 39511 Jacob Mulder Exec Dir of LFD & Sr Dir Strategy 40.00 X 125794 0 33737 Steven Simpson Associate Professor 40.00 X 151190 0 2750 Brad Strawn Chief of Spiritual Form. & Integ., Dean of Chaplains 40.00 X 128341 0 73949 1843119 0 436164 44 0 1 0 Restoration Management Company 4142 Point Eden Way Hayward CA 94545 Restoration Company 210226 Rogelio Sanchez Painting 3400 E Milton Street Pasadena CA 91107 Contractor - Painting 160065 Athens Services PO BOX 54957 Los Angeles CA 90054 Waste Removal 132032 Hassle Free Plumbing 220 E Foothill Blvd Monrovia CA 91016 Contractor - Plumbing 127859 Formation Association Architecture Inc 970 N Broadway 209 Los Angeles CA 90012 Consulting 122536 8 618087 33547972 3886859 34166059 Tuition and Fees 611310 25693074 25693074 Auxiliary Services 611310 5873552 5873552 Psychological Center 611310 1738945 1738945 33305571 346146 346146 7208 7208 786438 954028 -167590 -167590 -167590 7577000 11655 7582325 22864 -5325 -11209 -16534 -16534 67640860 33305571 0 169230 6128943 6128943 1501590 722373 779217 25036033 19995994 5040039 474071 403731 70340 3383875 3383193 682 1707889 1332252 375637 85582 85582 177710 177710 6300 6300 470363 470363 5628257 2506895 636754 2484608 472317 404052 68265 1837809 1007402 830407 913763 913763 3404650 1643951 1760699 1678331 1494058 184273 1379223 1311481 67742 2179448 1782280 397168 650092 650092 Indirect ops/plant exp 0 1962345 -2102513 140168 57116246 44078950 10406220 2631076 31152517 40500682 2557796 2560227 579884 9536753 3752088 2217750 501551 493726 306480 49270 48562 48562 2408977 2984810 127182826 46995213 81704250 80187613 112244723 92348196 11878859 7684964 79330 273396 57587096 47100297 304802113 285986246 5851591 5459735 7000435 11578392 250000 28735316 28248325 450000 452901 3693465 876775 45980807 46616128 X 63215767 65229335 195605539 174140783 258821306 239370118 304802113 285986246 X 10524614 -22687162 -7288640 X 0 1 X 1 1 1 X 14300147 15641451 15640022 22284163 34166059 102031842 14300147 15641451 15640022 22284163 34166059 102031842 28906192 73125650 423360 1419817 2372614 1464676 1139792 6820259 49726 218565 271213 98428 637932 109490033 175345397 0.66790 0.62840 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 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 130194012 833537 -1616321 1832566 4560600 123018062 0.11633 0.88367 1 0 12727637 12727637 95501136 30822730 64678406 1130037 812540 317497 10278239 9992855 285384 7545777 5367088 2178689 80187613 Beneficial Interest in Perpetual Trusts 4554026 Interest in Investments of Financially Interrelated Entity 12117979 Interest in Net Assets of Financially Interrelated Entity 29677748 Interest Rate Swap 750544 47100297 Annuities Payable 522474 Deposits 226696 Perkins Loan Funds Repayable to Fed 127605 876775 32019780 -22687162 -7288640 -29975802 61995582 470363 5174915 5645278 67640860 51470968 954028 954028 50516940 470363 6128943 6599306 57116246 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 -6,975,007. Change in beneficial int. in trusts held by financially interrelated entity -2,518,974. Change in value of interest rate swaps 2,205,341. Part XI, Line 4b - Other Adjustments: Scholarships 6,128,943. Rental expenses -954,028. Part XII, Line 2d - Other Adjustments: Rental expenses 954,028. Part XII, Line 4b - Other Adjustments: Scholarships 6,128,943. Schedule D, Part V, Line 1f, column (c): 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 (c) 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. 1 Grant in Aid for Students attending the Organization's Campuses in North America 2039 5741165 Higher Education Emergency Relief Fund (HEERF) 353 387778 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. No cash changes hands and funds are directly tied to student accounts. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Mark Labberton President/Trustee 218376 0 0 0 5479 0 49307 0 43820 0 316982 0 0 0 Theopolis Cosse Dean of School of Psychology 280054 0 0 0 4968 0 5000 0 2112 0 292134 0 0 0 Raymond M Asad CFO 249460 0 0 0 1682 0 5000 0 1533 0 257675 0 0 0 Amos Yong Dean, School of Mission and Theology 73134 0 0 0 1215 0 35267 0 93362 0 202978 0 0 0 Brad Strawn Chief of Spiritual Form. & Integ., Dean of Chaplains 127704 0 0 0 637 0 13079 0 61411 0 202831 0 0 0 Lance Griffin General Counsel 149724 0 0 0 1687 0 0 0 40108 0 191519 0 0 0 Alexis Abernathy Chief Academic Officer 168788 0 0 0 1517 0 3800 0 8110 0 182215 0 0 0 Bernadette O'Halloran Chief of HR 150653 0 0 0 342 0 3300 0 18925 0 173220 0 0 0 Jacob Mulder Exec Dir of LFD & Sr Dir Strategy 125677 0 0 0 117 0 0 0 34276 0 160070 0 0 0 Jeffrey Harwell Chief Technology Officer 130554 0 0 0 161 0 2700 0 21540 0 154955 0 0 0 Steven Simpson Associate Professor 151008 0 0 0 182 0 0 0 3013 0 154203 0 0 0 Part I, Line 1a At times it is deemed necessary for the President, Mark Labberton, 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, Mark Labberton and his wife, Janet Labberton, 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 (Mark Labberton), Dean of SMT (Amos Young) and Chief of Spiritual Form & Integ, Dean of Chaplians (Brad Strawn) met the qualifications for and received a ministerial housing allowance during the tax year. The President, Mark Labberton, is provided with maid services because he hosts functions for the Seminary at his home. This benefit is not included in taxable income. Mark Labberton President Incentive to Attract Key Employee X 103076 103076 0 1 1 Amos Yong Dean of SIS and SOT Incentive to Attract Key Employee X 375000 375000 0 1 1 Jeffrey Harwell Chief Technology Officer Incentive to Attract Key Employee X 103885 15650 0 1 1 493726 X 28 3886859 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 -6,975,007. Change in beneficial interest in trusts held by a related party -2,518,974. Change in Interest Rate Swap 2,205,341. CGF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 3827279 28812602 Fuller Theological Seminary CEF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 489403 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 8633165 103726365 0 515904 0 0.69810 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0