2023-08-23T13:27:46-05:00 2021-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2020-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 SERENE JONES PRESIDENT 2126627100 2023-08-23 1 SERENE JONES XXX-XX-XXXX GARRETT M HIGGINS P00543209 2017129800 2023-08-21 3 AAL1 IAL1 2020 2023-04-26 12:10:37Z X REV DR SERENE JONES 3041 BROADWAY NEW YORK NY 10027 78613505 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 25 24 235 24 0 0 6357446 13387547 10978419 10090711 65506560 12259605 1014647 455108 83857072 36192971 5140852 3824902 0 0 11282019 10809141 0 0 904453 13935691 14468937 30358562 29102980 53498510 7089991 221087990 239147562 62777224 49268747 158310766 189878815 X THE MISSION OF UNION THEOLOGICAL SEMINARY, AN INDEPENDENT, MULTI-DENOMINATIONAL SEMINARY IN THE CITY OF NEW YORK, DERIVES FROM A CHRISTIAN HERITAGE THAT IS AT ONCE PROGRESSIVE AND EVANGELISTIC: TO EDUCATE LEADERS FOR MINISTRY IN CHURCHES AND RELATED ORGANIZATIONS, TO EXTEND THE WORK OF SOCIAL JUSTICE AND TO ENRICH THE ACADEMY THROUGH TEACHING AND RESEARCH. 0 0 21413462 3824902 10090711 PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 260 FULL-TIME AND PART-TIME STUDENTS 21413462 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 169 0 235 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X NINA WONG 2122801402 3041 BROADWAY NEW YORK NY 10027 THE REV DR SERENE JONES PRESIDENT 40.00 X X 335739 0 145122 WILLIAM CANDELARIA ESQ CHAIR 2.00 X X 0 0 0 CLIFFORD HUDSON VICE CHAIR 2.00 X X 0 0 0 GEOFFREY BROWN TRUSTEE 2.00 X 0 0 0 CYNTHIA A FIELDS TRUSTEE 2.00 X 0 0 0 MILLICENT FORTUNOFF TRUSTEE 2.00 X 0 0 0 BLAKE FRANKLIN ESQ TRUSTEE 2.00 X 0 0 0 FAITH E GAY TRUSTEE 2.00 X 0 0 0 THE REV AMY GOPP TRUSTEE 2.00 X 0 0 0 OLGA HARTWELL TRUSTEE 2.00 X 0 0 0 MICHAEL J JOHNSTON TRUSTEE 2.00 X 0 0 0 DAVID KLASSEN TRUSTEE 2.00 X 0 0 0 REV CANON PETER KOON TRUSTEE 2.00 X 0 0 0 CAROLINE LAGUERRE-BROWN TRUSTEE 2.00 X 0 0 0 DR TIMOTHY LIGHT TRUSTEE 2.00 X 0 0 0 SISTER JOAN MAGNETTI TRUSTEE 2.00 X 0 0 0 DAVID M MCALPIN TRUSTEE 2.00 X 0 0 0 RHONDA MCLEAN ESQ TRUSTEE 2.00 X 0 0 0 CALVIN M MEW TRUSTEE 2.00 X 0 0 0 CAROLINE SHARP TRUSTEE THRU 11/2020 2.00 X 0 0 0 THE REV MADISON SHOCKLEY TRUSTEE 2.00 X 0 0 0 THE REV STAN J SLOAN TRUSTEE 2.00 X 0 0 0 THE REV NANCY STEEGER JENNINGS TRUSTEE 2.00 X 0 0 0 THE REV WINNIE VARGHESE TRUSTEE 2.00 X 0 0 0 RUTH WOODEN TRUSTEE 2.00 X 0 0 0 JASON G WRIGHT TRUSTEE 2.00 X 0 0 0 FREDERICK DAVIE VICE PRESIDENT 40.00 X 268081 0 50684 BRENT DICKMAN TREASURER THRU 4/2021 40.00 X 225838 0 71806 KELLY B DOUGLAS DEAN EDS@UTS 40.00 X 173081 0 106359 RITA L WALTERS VP FOR DEVELOPMENT 40.00 X 193805 0 59250 ROBIN REESE VP OF COMMUNICATION 40.00 X 180058 0 99614 PAMELA COOPER-WHITE VP OF ACADIMEC AFFAIRS & DEAN 40.00 X 126824 0 96431 MICHAEL MALONEY JR DIRECTOR OF FACILITIES 40.00 X 126197 0 51238 SU YON PAK DIRECTOR OF FIELD BASED ED 40.00 X 128547 0 43795 1758170 0 724299 18 0 1 0 CONSIGLI CONSTRUCTION NY LLC 199 W RD 100 PLEASANT VALLEY NY 12569 CONSTRUCTION SERVICES 31584845 HARVARD MAINTENANCE PO BOX 95000-1112 PHILADELPHIA PA 10027 FACILITIES STAFFING 1486964 SKYLINE RESTORATION INC 49-28 31ST PL LONG ISLAND CITY NY 11101 CONSTRUCTION SERVICES 754721 BEYER BLINDER BELLE ARCHITECTS AND PLAN 120 BROADWAY 20TH FLOOR NEW YORK NY 10271 ARCHITECT SERVICES 562012 LEHRER CUMMING 900 3RD AVE 6TH FLOOR NEW YORK NY 10022 CONSTRUCTION SERVICES 493049 20 2236122 11151425 778700 13387547 TUITION AND FEES 611710 6627973 6627973 ROOM AND BOARD 532000 3358051 3358051 AUXILIARY INCOME 532000 57912 57912 STUDENT LOAN INTEREST 611710 46775 46775 10090711 2068116 2068116 45777442 6834581 42420534 0 3356908 6834581 10191489 10191489 MISCELLANEOUS INCOME 900099 365882 365882 UTS MERCHANDISE 900099 50706 50706 EVENT REGISTRATION 900099 37624 37624 896 896 455108 36192971 10090711 0 12714713 X 72315 72315 3752587 3752587 1361626 946649 340924 74053 7088214 4927970 1774744 385500 690641 480157 172923 37561 1058412 735845 265004 57563 610248 424265 152794 33189 49167 34183 12310 2674 120000 83428 30046 6526 619527 619527 3919056 1843868 1924631 150557 20223 20223 659474 572023 51832 35619 537744 304805 219546 13393 2774918 2633111 131198 10609 162846 136726 24166 1954 695980 584344 103283 8353 570713 396779 142894 31040 FACILITIES AND MAINTENA 3566853 2938509 576742 51602 OTHER EXPENSES 250225 201328 48897 LIBRARY EXPENSES 203447 203447 BAD DEBT 164746 164746 154018 120900 28858 4260 29102980 21413462 6785065 904453 700 700 1608052 5099796 1015160 326723 663645 2565484 3349952 2532461 122247597 38045651 77151853 84201946 83684447 87515461 51148906 54611071 1241108 1069753 1224167 1224167 221087990 239147562 9404501 4662557 31335 31335 385972 96497 17824208 17824208 35131208 26654150 62777224 49268747 X 87934961 101218425 70375805 88660390 158310766 189878815 221087990 239147562 X 7089991 24039661 438397 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 104971827 100000 28810256 5856308 1422472 126603303 109723709 207936 1461683 5811501 610000 104971827 110389796 328266 5239142 5620489 613006 109723709 107941003 776503 8057606 5295801 1089515 110389796 95401816 3657111 16354837 5424814 2047947 107941003 0.39041 0.42192 0.18767 0 0 1346074 1346074 37016758 33224680 3792078 4344787 4232225 112562 79539978 588746 78951232 84201946 COMMINGLED TRUST FUND 24760384 F ALTERNATIVE INVESTMENTS 26877152 F ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 2744649 F BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 228886 F 54611071 POSTRETIREMENT BENEFITS LIABILITIES 2423336 GIFT ANNUITY PAYABLE 1192902 REFUNDABLE ADVANCES - US GOVERNMENT GRANTS 540747 DEFERRED GAIN ON SALE-LEASEBACK TRANSACTION 22497165 26654150 X 56587936 24039661 656657 24696318 31891618 619527 3681826 4301353 36192971 25019887 218260 218260 24801627 619527 3681826 4301353 29102980 PART IV, LINE 2B: THE SEMINARY HOLDS SECURITY DEPOSITS FOR STUDENTS LIVING IN HOUSING RESIDENCES. WHEN THEY VACATE, IT WILL BE RETURNED TO THE STUDENTS. PART V, LINE 4: TO PROVIDE LONG TERM SUPPORT FOR THE ORGANIZATION'S PROGRAM SERVICES. PART X, LINE 2: THE SEMINARY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SEMINARY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SEMINARY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE YEARS PRIOR TO JULY 1, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 656,657. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 3,459,289. REVENUE NETTED AGAINST EXPENSES 222,537. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE OFF OF PRIOR YEAR PLEDGE RECEIVABLE 101,009. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 117,251. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 3,459,289. REVENUE NETTED AGAINST EXPENSES 222,537. 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 SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT, IN ALL HANDBOOKS AND LITERATURE DISTRIBUTED, AND ON ALL GENERAL NEWSPAPER ADVERTISEMENT. THE ADMISSIONS BROCHURE DISCLOSES THAT IT SERVES STUDENTS OF SIGNIFICANT FINANCIAL NEED AND DIVERSE CULTURES. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL AID FROM VARIOUS GOVERNMENTAL SOURCES INCLUDING CARES ACT EMERGENCY FINANCIAL AID GRANTS. CENTRAL AMERICA, CARIBBEAN, ASIA AND EUROPE 0 0 INVESTMENTS 19567936 0 0 0 0 0 0 19567936 0 19567936 0 0 1 0 0 0 PART III ACCOUNTING METHOD: PART I LINE 3: THE SEMINARY IS NOT REQUIRD TO FILE FORM 5471 BECAUSE IT DOES NOT MEET THE OWNERSHIP REQUIREMENT. 1 REPAIRERS OF THE BREACH INC 2822 CASHWELL DRIVE 196 GOLDSBORO NC 27524 463332424 501(C)(3) 69000 SUB-GRANT TO SUPPORT NATIONAL POOR PEOPLE'S CAMPAIGN PROGRAM ACTIVITIES, ORGANIZED IN PARTNERSHIP WITH UNION KAIROS CENTER AND REPAIRERS. 1 0 GRANTS, SCHOLARSHIPS AND FELLOWSHIPS FOR TUITION 198 3728616 TUITION REMISSION 24 23971 PART I, LINE 2: THE FINANCIAL AID OFFICE MAINTAINS THE RECORDS RELATED TO THE GRANTS APPLICATION. THE PROCEDURE IS AS FOLLOWS: THE STUDENTS APPLY ANNUALLY FOR GRANTS BASED ON THEIR FAMILIES' FINANCIAL CIRCUMSTANCES. EACH APPLICATION IS THEN REVIEWED TO DETERMINE THE AMOUNT OF GRANT THAT IS NEEDED. THE GRANTS ARE PROVIDED FROM APPROPRIATE SOURCES AND APPLIED DIRECTLY TO EACH STUDENT'S BILL FOR TUITION, FEES, ROOM, BOARD AND OTHER CHARGES. X 1 1 X X X 0 0 0 0 0 0 0 0 0 THE REV DR SERENE JONES PRESIDENT 310239 0 0 0 25500 0 51610 0 93512 0 480861 0 0 0 FREDERICK DAVIE VICE PRESIDENT 200081 0 0 0 68000 0 33000 0 17684 0 318765 0 0 0 BRENT DICKMAN TREASURER THRU 4/2021 225838 0 0 0 0 0 28997 0 42809 0 297644 0 0 0 ROBIN REESE VP OF COMMUNICATION 180058 0 0 0 0 0 22694 0 76920 0 279672 0 0 0 KELLY B DOUGLAS DEAN EDS@UTS 173081 0 0 0 0 0 22750 0 83609 0 279440 0 0 0 RITA L WALTERS VP FOR DEVELOPMENT 193805 0 0 0 0 0 24000 0 35250 0 253055 0 0 0 PAMELA COOPER-WHITE VP OF ACADIMEC AFFAIRS & DEAN 126824 0 0 0 0 0 16937 0 79494 0 223255 0 0 0 MICHAEL MALONEY JR DIRECTOR OF FACILITIES 126197 0 0 0 0 0 17084 0 34154 0 177435 0 0 0 SU YON PAK DIRECTOR OF FIELD BASED ED 128547 0 0 0 0 0 16165 0 27630 0 172342 0 0 0 PART I, LINE 1A "AS PART OF ITS HISTORIC MISSION OF NURTURING SPIRITUAL DEVELOPMENT IN COMMUNITY FOR MINISTRY, UNION THEOLOGICAL SEMINARY REQUIRES ITS FACULTY TO RESIDE AT THE SEMINARY IN ORDER TO BE READILY AVAILABLE FOR STUDENTS AND FOR SEMINARY EVENTS. THIS HOUSING IS USED TO MEET WITH STUDENTS, HOLD CLASSES AND FOR OTHER SEMINARY PURPOSES. THE VALUE OF THE HOUSING HAS BEEN INCLUDED WHERE REQUIRED ON SCHEDULE J AS A NONTAXABLE BENEFIT. THE FOLLOWING PERSONS RECEIVED HOUSING BENEFITS EITHER REPORTED IN SCHEDULE J PART I COLOUMN B III OR COLUMN D: REV. DR. SERENE JONES - $62,637 KELLY B DOUGLAS - $62,637 PAMELA COOPER-WHITE - $62,637 FREDERICK DAVIE - $68,000 ROBIN REESE - $43,582 X 21 778700 AVERAGE SELLING PRICE 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE AMOUNT OF CONTRIBUTORS IN SCHEDULE M, PART 1, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B UNION THEOLOGICAL SEMINARY HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, IT IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. THE GOVERNING BODY HAS DELEGATED ITS OVERSIGHT ROLE TO THE AUDIT COMMITTEE. ANY COMMENTS MADE BY THE AUDIT COMMITTEE ARE PRESENTED TO MANAGEMENT. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. A COPY OF THE FINAL APPROVED VERSION IS ELECTRONICALLY SENT TO THE ENTIRE BOARD AFTER FILING. FORM 990, PART VI, SECTION B, LINE 12C UNION THEOLOGICAL SEMINARY CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IS MONITORED AND ENFORCED ANNUALLY. THE BOARD MANDATES THAT ALL MEMBERS OF THE GOVERNING BODY, OFFICERS, AND EMPLOYEES ANNUALLY REVIEW AND SIGN THE CONFLICT OF INTEREST DISCLOSURE FORM. THE COI POLICY ALSO REQUIRES THAT AFTER DISCLOSURE, ANY SUCH CONFLICT OF INTEREST MUST BE APPROVED BY THE EMPLOYEE'S DIRECT SUPERVISOR, AND ABSENT THIS APPROVAL, THE CONFLICT MUST BE RESOLVED. AFTER A CONFLICT IS REPORTED TO AN EMPLOYEE'S SUPERVISOR AND ACTED UPON, IT MUST BE REPORTED TO THE VICE PRESIDENT FOR FINANCE AND OPERATIONS. IF AN OFFICER OR A TRUSTEE HAD A CONFLICT OF INTEREST, THEY WOULD BE EXCUSED FROM PARTICIPATING IN THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT AND KEY ADMINISTRATORS AT UNION THEOLOGICAL SEMINARY ARE DETERMINED BY UNION'S PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES, AFTER REVIEWING GUIDELINES AND COMPARABLE DATA IN THE UTS HUMAN RESOURCES OFFICE. COMPARABLE DATA INCLUDES DATA FROM THE ASSOCIATION OF THEOLOGICAL SCHOOLS AND SURVEY OF NEIGHBORING SCHOOLS. THE DETERMINATIONS AND RESULTS OF THE COMPENSATION PROCESS ARE RECORDED ON THE MINUTES OF THE BOARD MEETINGS. THIS PROCESS WAS LAST UNDERTAKEN IN FY21. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990 AND THE AUDITED FINANCIAL STATEMENT IS MADE AVAILABLE FOR THE PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IT IS POSTED ON NEW YORK STATE ATTORNEY GENERAL WEBSITE, GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST AT 3041 BROADWAY, NEW YORK, NY 10027 OR BY CALLING THE ORGANIZATION DIRECTLY AT (212)-662-7100. FORM 990, PART IX, LINE 11G OTHER CONSULTANT/SERVICE FEES: PROGRAM SERVICE EXPENSES 1,843,868. MANAGEMENT AND GENERAL EXPENSES 1,924,631. FUNDRAISING EXPENSES 150,557. TOTAL EXPENSES 3,919,056. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 656,657. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -117,251. WRITE OFF OF PRIOR YEAR PLEDGE RECEIVABLE -101,009. FORM 990, PART XII, LINE 2C: UNION THEOLOGICAL SEMINARY HAS AN AUDIT COMMITTEE THAT OVERSEES THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS FOR SELECTING AN INDEPENDENT ACCOUNTANT AND ESTABLISHING A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEAR. FORM 990, AMENDED RETURN: AN AMENDED RETURN IS BEING FILED IN ORDER TO CONFORM TO THE ORGANIZATION'S JUNE 30, 2021 FINANCIAL STATEMENTS. A LISTING OF ALL THE CHANGES TO THE FORM 990 IS AS FOLLOWS: 1. PAGE 1, BOX G: GROSS RECEIPTS WAS RESTATED TO REFLECT THE UPDATED REVENUE REPORTED IN PART VIII. 2. PART I, LINES 20 AND 21: THESE AMOUNTS WERE UPDATED TO REFLECT THE CHANGES REPORTED IN THEIR RESPECTIVE PARTS OF THE RETURN DUE TO THE ISSUANCE OF THE FINANCIAL STATEMENTS. 3. PART III, LINE 4A: THE TOTAL PROGRAM EXPENSES AND REVENUE FOR THE ORGANIZATION'S PROGRAM WAS UPDATED TO AGREE TO THE ADJUSTMENTS MADE IN PART VIII, PART IX, AND SCHEDULE D. 4. PART IX, LINE 1, LINE 2, LINE 7, LINE 9, LINE 11G, LINE 13, LINE 14, LINE 16, LINE 22, LINE 23, LINE 24A, LINE 24B, LINE 24C, AND LINE 24D: THESE AMOUNTS WERE UPDATED TO REFLECT THE FUNCTIONAL ALLOCATION PER THE AUDITED FINANCIAL STATEMENTS. 5. PART X, LINE 4, 13 AND 25: THESE AMOUNTS WERE UPDATED TO AGREE TO THE AUDITED FINANCIAL STATEMENTS. 6. SCHEDULE D, PAGE 4: THE AMOUNTS REPORTED IN THIS SECTION WAS UPDATED TO AGREE TO THE AUDITED FINANCIAL STATEMENTS. 7. SCHEDULE I, PART III, LINE C: THE AMOUNT REPORTED IN THIS SECTION WAS UPDATED TO AGREE TO THE AUDITED FINANCIAL STATEMENTS. 8. SCHEDULE O: NARRATIVES WERE UPDATED WITH REGARDS TO THE CHANGES MENTIONED ABOVE.