2022-05-16T08:33:44-05:00 2021-06-30 363990892 Capin Crouse LLP 3050 Saturn Street Suite 104 Brea CA 92821 990 2020-07-01 951699394 Fuller Theological Seminary FULL 6265845453 135 N Oakland Avenue Pasadena CA 911820001 Raymond Asad CFO 6265845453 2022-05-16 1 Raymond Asad 999009999 Ted R Batson Jr P00721951 5055022746 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Mark Labberton 135 N Oakland Avenue Pasadena CA 911820001 82195332 0 X www.fuller.edu X 1947 CA Provides graduate degrees in Theology,Psychology,Intercultural Studies & operates Psych Center. 27 26 1158 31 0 98428 15640022 22284163 32936129 34421493 624883 17825202 -261861 150595 48939173 74681453 5743997 6703928 0 0 36566511 32702929 20285 15459 2250232 20692418 16582997 63023211 56005313 -14084038 18676140 257080633 304802113 57855175 45980807 199225458 258821306 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 32812191 6703928 27060655 School of Psychology & Marriage and Family Therapy (SOPMFT) 267 full time equivalent studentsSchool of Mission & Theology (SMT) 1,032 full time equivalents 4733454 5537669 Auxiliary enterprise revenue. 3467431 1823169 Two Psychological Centers - Student trainees provided counseling services to members of the community. 41013076 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 0 0 0 1 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 3313 0 1 1158 1 1 1 0 0 0 0 0 0 0 0 0 X 27 26 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 Paula Tkach 6265845453 135 N Oakland Avenue Pasadena CA 911820001 X Mark Labberton President/Trustee 0.10 X X 211981 0 103815 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 FLD 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 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 Anne M Huffman part year Trustee 0.10 X 0 0 0 Grant A Wacker part year Trustee 0.10 X 0 0 0 John C Ortberg Jr part year Trustee 0.10 X 0 0 0 Maryann Coyne part year Trustee 0.10 X 0 0 0 Raymond M Asad CFO 40.00 X 250056 0 6089 Jeffrey Harwell Chief Technology Officer 40.00 X 112583 0 17430 Amos Yong Dean School Theology & School of Intercultural Studies 40.00 X 88706 0 116673 Theopolis Cosse Dean of School of Psychology 40.00 X 232185 0 5921 Lauralee Farrer part year VP of Communications 40.00 X 149952 0 10525 Bernadette O'Halloran Chief of HR 40.00 X 145329 0 21019 John Kamperschroer part year Senior Director of Development 40.00 X 159025 0 18536 Kenneth Tzuchien Wang Professor, Clinical Psychology 40.00 X 143602 0 22561 Kenneth H White part year Director of Development 40.00 X 143912 0 24166 Mari Clements Former Provost 0.00 X 443096 0 0 2080427 0 346735 31 1 1 0 Rogelio Sanchez Painting 3400 E Milton Street Pasadena CA 91107 Contractor - Painting 158695 Michael Robles PO Box 5501 Hacienda Heights CA 91745 Contractor - Carpentry 137726 Hassle Free Plumbing 220 E Foothill Blvd Monrovia CA 91016 Contractor - Plumbing 126463 Athens Services PO Box 54957 Los Angeles CA 90054 Waste Removal 116576 OX Creative Inc PO Box 30 Trabuco Canyon CA 92678 Web Design 111804 7 959767 21324396 1884009 22284163 Tuition and Fees 611310 27060655 27060655 Auxiliary Services 611310 5537669 5537669 Psychological Center 611310 1823169 1823169 34421493 390680 390680 6402 6402 1067594 923401 144193 144193 144193 4675000 19350000 3028323 3562155 1646677 15787845 17434522 17434522 74681453 34421493 0 17975797 6703928 6703928 1168285 464167 704118 25258799 18749469 5817651 691679 499415 397147 86713 15555 3900668 3264298 466768 169602 1875762 1361472 464931 49359 90254 90254 106061 106061 15459 15459 613699 613699 4793655 2720337 933058 1140260 365565 45270 320295 1445274 857428 565780 22066 764922 764922 4008964 2087877 1920177 910 374084 201874 153355 18855 1400971 1328758 72213 2207436 1768563 438873 412112 412112 Indirect ops/plant exp 0 1062488 -1188975 126487 56005313 41013076 12742005 2250232 15336110 31152517 2555189 2557796 846345 579884 3416342 3752088 509376 501551 374742 306480 48432 48562 2341384 2408977 126326755 44622505 87081778 81704250 87679856 112244723 10724280 11878859 140957 79330 46025842 57587096 257080633 304802113 5090780 5351591 5720584 7000435 250000 39244939 28735316 1850000 450000 5948872 4193465 57855175 45980807 X 45878644 63215767 153346814 195605539 199225458 258821306 257080633 304802113 X 18676140 27348307 843 13570558 X 0 1 X 1 1 1 X 26643313 14300147 15641451 15640022 22284163 94509096 26643313 14300147 15641451 15640022 22284163 94509096 30345765 64163331 1282553 423360 1419817 2372614 1464676 6963020 49726 218565 271213 98428 637932 102110048 180472056 0.62840 0.61690 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 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 122390454 7538936 7119764 1877953 4977189 130194012 0.12950 0.87050 1 0 12727639 12727639 95501136 28991106 66510030 952732 786064 166668 10104636 9906344 198292 7040612 4938991 2101621 81704250 Beneficial Interest in Perpetual Trusts 5451313 Interest in Investments of Financially Interrelated Entity 15158153 Interest in Net Assets of Financially Interrelated Entity 36977630 57587096 Annuities Payable 582455 Deposits 1448515 Due to Fuller Foundation 500000 Perkins Loan Funds Repayable to Fed 207697 Interest Rate Swap 1454798 4193465 109206091 27348307 13570557 40918864 68287227 613699 5780527 6394226 74681453 49611087 923401 923401 48687686 613699 6703928 7317627 56005313 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. Form 990, Schedule D, Part V, Line 1, column (c): With the adoption of ASU 2016-14, the negative appreciation of endowment funds was removed from the endowment balance. Part XI, Line 2d - Other Adjustments: Change in investments held by a related party 8,558,849. Change in beneficial interest in trusts held by a related party 3,810,380. Change in Value of Interest Rate Swaps 1,211,371. Change in Value of Split Interest Agreements -10,043. Part XI, Line 4b - Other Adjustments: Scholarships 6,703,928. Rental expenses -923,401. Part XII, Line 2d - Other Adjustments: Rental expenses 923,401. Part XII, Line 4b - Other Adjustments: Scholarships 6,703,928. Schedule D, Part V, Line 1f, column (b): 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 (b) 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 currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). The non-discrimination policy is published in the course catalog and has been added to the Fuller homepage so that this question can be answered "yes" on the 2021 tax return without relying on the exception. 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. X X X X X 1 Grenzebach Glier & Associates Inc 200 S Michigan Ave Suite 2100 Chicago IL 60604 Fundraising consulting/capital campaign exploration 0 0 15459 -15459 15459 -15459 CA Schedule G, Part I, Line 2b, column (iv): The professional fundraising services were consulting in nature; no gross receipts were directly generated from the services provided. 1 Grant in Aid for Students attending the Organization's Campuses in North America 1738 6265399 Higher Education Emergency Relief Fund (HEERF) 856 438529 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 X 1 1 X X X X 1 0 0 0 0 0 0 0 0 Mari Clements Former Provost 93096 0 0 0 350000 0 0 0 0 0 443096 0 0 0 Mark Labberton President/Trustee 206555 0 0 0 5426 0 55409 0 52220 0 319610 0 0 0 Raymond M Asad CFO 249139 0 0 0 917 0 5000 0 1866 0 256922 0 0 0 Theopolis Cosse Dean of School of Psychology 228473 0 0 0 3712 0 3850 0 2689 0 238724 0 0 0 Amos Yong Dean School Theology & School of Intercultural Studies 88043 0 0 0 663 0 19673 0 97730 0 206109 0 0 0 John Kamperschroer part year Senior Director of Development 157407 0 0 0 1618 0 3244 0 16130 0 178399 0 0 0 Kenneth H White part year Director of Development 143460 0 0 0 452 0 3000 0 21686 0 168598 0 0 0 Bernadette O'Halloran Chief of HR 145078 0 0 0 251 0 2995 0 18559 0 166883 0 0 0 Kenneth Tzuchien Wang Professor, Clinical Psychology 143414 0 0 0 188 0 1930 0 20977 0 166509 0 0 0 Lauralee Farrer part year VP of Communications 148501 0 0 0 1451 0 3022 0 8031 0 161005 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 reimburses for the travel of companions when there is a bonafide business purpose for the spouse to travel to a function or meeting. This is not included in taxable compensation. The Seminary provides a car allowance to select officers who are also employees of the Organization. This allowance is discretionary and is not part of an accountable plan. Accordingly, the car allowance is reported as other taxable compensation on the employee's W-2. 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 SIS/SOT met the qualifications for and received a ministerial housing allowance during the tax year. The President is provided with maid services because the President hosts functions for the Seminary at his home. This benefit is not included in taxable income. Part I, Line 4a Mari Clements $350,000 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 23475 0 1 1 Mary Vermeer Andringa Vice Chair Fund advances X 250000 250000 0 1 1 751551 X 17 1884009 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 1 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. If an instance of non compliance should occur, the Seminary would address it and make the necessary corrections if needed. 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 8,558,849. Change in beneficial interest in trusts held by a related party 3,810,380. Change in Interest Rate Swap 1,211,371. Change in Value of Split Interest Agreements -10,042. CGF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 3947988 29714742 Fuller Theological Seminary CEF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 198671 0 Fuller Theological Seminary Fuller Endowment Fund LLC 385 E Colorado Blvd Suite 250 Pasadena CA 91101 352579788 Investment CA Fuller Theological Seminary Excluded 4908750 92263818 0 149235 0 0.68780 Charitable Remainder Unitrust (5) 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 Perpetual Trust (2) Beneficial Interest in Perpetual 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