2021-05-16T17:44:43-05:00 2020-06-30 363990892 Capin Crouse LLP 3050 Saturn Street Suite 104 Brea CA 92821 990 2019-07-01 951699394 Fuller Theological Seminary FULL 6265845453 135 N Oakland Avenue Pasadena CA 911820001 Raymond Asad CFO 6265845453 2021-05-16 1 Ted R Batson Jr P00721951 5055022746 2019 2022-09-23 18:48:47Z Mark Labberton 135 N Oakland Avenue Pasadena CA 911820001 58569158 0 X www.fuller.edu X 1947 CA Provides graduate degrees in Theology,Psychology,Intercultural Studies & operates Psych Center. 31 30 1292 40 0 170261 15641451 15640022 35110201 32936129 1265953 624883 953499 -261861 52971104 48939173 5943961 5743997 0 0 38528826 36566511 77087 20285 2709006 22183107 20692418 66732981 63023211 -13761877 -14084038 265062633 257080633 53629035 57855175 211433598 199225458 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 schools of Theology, Psychology, and Intercultural Studies. 0 0 31091273 5743997 25294182 School of Theology - 2,267 full-time equivalent students servedSchool of Psychology - 779 full-time equivalent students servedSchool of Intercultural Studies - 757 full-time equivalent students servedOther Miscellaneous Programs 8120159 5996853 Auxiliary enterprise revenue. 5775986 1645094 Two Psychological Centers - Student trainees provided counseling services to members of the community. 44987418 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 3534 0 1 1292 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA WA X X Paula Tkach 6265845453 135 N Oakland Avenue Pasadena CA 911820001 X Mark Labberton President/Trustee 40.00 X X 218079 0 82892 Mari Clements Provost 40.00 X 199317 0 22921 Kimberly Odom Thompson VP for Development (part year) 40.00 X 185610 0 21707 Theopolis Cosse Dean of School of Psychology 40.00 X 174733 0 29544 Sandra Ann Shrader Exec, Director of Development 40.00 X 163805 0 21599 Amos Yong Dean School Theology & School of Intercultural Studies 40.00 X 87950 0 84991 John Kamperschroer Senior Director, Development 40.00 X 151372 0 19975 Lauralee Farrer VP Communication 40.00 X 155057 0 13957 Jeffrey Harwell Chief Technology Officer 40.00 X 104928 0 16959 Raymond M Asad CFO 40.00 X 87957 0 1386 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 Anne M Huffman Trustee 0.10 X 0 0 0 Barbara H Carlsberg Trustee 0.10 X 0 0 0 Bill Sung-Kook Hwang Trustee 0.10 X 0 0 0 C Jeffrey Wright Trustee 0.10 X 0 0 0 Daniel L Chun Trustee 0.10 X 0 0 0 David Fung Trustee 0.10 X 0 0 0 David L Bere Trustee 0.10 X 0 0 0 Evelyn W Freed Trustee 0.10 X 0 0 0 Grant A Wacker Trustee 0.10 X 0 0 0 Jack D Samuelson Trustee 0.10 X 0 0 0 Jim Mellado Trustee 0.10 X 0 0 0 Jody A De Pree Vanderwel Trustee 0.10 X 0 0 0 John C Ortberg Jr Trustee 0.10 X 0 0 0 Kathy Drake Trustee 0.10 X 0 0 0 Kevin T Chan Trustee 0.10 X 0 0 0 Larry A Smith Trustee 0.10 X 0 0 0 Meritt Lohr Sawyer Trustee 0.10 X 0 0 0 Nathan O Hatch Trustee 0.10 X 0 0 0 Nicholas E Brathwaite Trustee 0.10 X 0 0 0 Nicholas Pearce Trustee 0.10 X 0 0 0 Tom Lin Trustee 0.10 X 0 0 0 Willie James Jennings Trustee 0.10 X 0 0 0 Maryann Coyne Trustee 0.10 X 0 0 0 Russell J Bloem part year Trustee/Chair Audit Committee 0.10 X 0 0 0 Shirley A Mullen part year Trustee/Chair GPC 0.10 X 0 0 0 Peter Chao part year Trustee 0.10 X 0 0 0 Richard Kannwischer part year Trustee 0.10 X 0 0 0 Robert M Anderson part year Trustee 0.10 X 0 0 0 Gaylen J Byker part year Trustee 0.10 X 0 0 0 James R Hunt part year Trustee 0.10 X 0 0 0 Thomas G Bost part year Trustee 0.10 X 0 0 0 William K Brehm part year Trustee 0.10 X 0 0 0 1528808 0 315931 38 0 1 0 Cannon Parkin Inc 1901 Avenue of the Stars Suite 175 Los Angeles CA 90067 Architect 1588471 Gafcon Inc 5960 Cornerstone Court West Suite San Diego CA 92121 Construction Management 204614 Munro & Company 453 W San Carlos St San Jose CA 95110 Web Design & Marketing 174736 Athens Services 14048 Valley Blvd City of Industry CA 917160009 Waste Disposal 151303 Rogelio Sanchez Painting 3400 Milton St Pasadena CA 91107 Painting Contractor 144505 12 290109 15349913 4544049 15640022 Tuition and Fees 611310 25294182 25294182 Auxiliary Services 623000 5996853 5996853 Psychological Center 611310 1645094 1645094 32936129 555862 555862 7220 7220 1809532 2078613 -269081 -269081 -269081 6609326 1011067 6679049 872323 -69723 138744 69021 69021 48939173 32936129 0 363022 5743997 5743997 958614 221354 585174 152086 28708578 21139339 5908934 1660305 577996 453933 100303 23760 4233519 3460289 240422 532808 2087804 1510371 454379 123054 109550 109550 124260 124260 20285 20285 597052 597052 3372538 1828664 1543414 460 2802696 1457635 1304144 40917 992169 992169 40890 40890 4010214 3077632 928226 4356 1075005 305934 673636 95435 90603 52720 37041 842 1807888 1784173 23715 4480437 3524464 944611 11362 275964 275964 Hospitality 683309 361371 278602 43336 License Fees 131749 24652 107097 Library acquisitions 98094 98094 63023211 44987418 15326787 2709006 5417959 15336110 8663096 2555189 858698 846345 3524965 3416342 753076 509376 527116 374742 61003 48432 5582117 2341384 132699009 45617231 89020978 87081778 84285757 87679856 14180267 10724280 79803 140957 52107798 46025842 265062633 257080633 6078902 5090780 4210132 5720584 39922169 39244939 1850000 3417832 5948872 53629035 57855175 X 52732622 45878644 158700976 153346814 211433598 199225458 265062633 257080633 X -14084038 1626717 249181 X 0 1 X 1 1 1 X 13788851 26643313 14300147 15641451 15640022 86013784 13788851 26643313 14300147 15641451 15640022 86013784 27688239 58325545 1564090 1282553 423360 1419817 2372614 7062434 49726 218565 271213 539504 931270 931270 94546992 184431936 0.61690 0.67600 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Income - 2015 Amount: $ 931,270. 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 121594576 4574364 1666000 2253361 4426046 22353533 98802000 123018062 2291041 2979610 1894290 4799847 121594576 130194012 833537 -1616321 1832566 4560600 123018062 122390454 7538936 7119764 1877953 4977189 130194012 121902692 282751 6692590 1770730 4716849 122390454 0.09740 0.90260 1 0 13878037 13878037 101093274 30495097 70598177 786063 786063 0 10076293 9753757 322536 6865342 4582314 2283028 87081778 Beneficial Interest in Perpetual Trusts 4286679 Interest in Investments of Financially Interrelated Entity 12026418 Interest in Net Assets of Financially Interrelated Entity 29712745 46025842 Annuities Payable 639140 Deposits 2165598 Assets Held for Auxiliary Organizat 189408 Perkins Loan Funds Repayable to Fed 288557 Interest Rate Swap 2666169 5948872 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. Form 990, Schedule D, Part V, Lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2020. To date, Schedule D has not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions Schedule D, Part V, Line 1f, column (a): 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 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 Non-discrimination policy is published in the course catalog and posted on the Fuller homepage. 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). Schedule E, Part I, Line 6 Fuller Theological Seminary received funds for Student Financial Aid from the U.S. Department of Education, through the Federal Direct Loan Program, the Federal Graduate PLUS Loan Program, the Federal Work-Study Program and Higher Education Emergency Relief Fund (HEERF). 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 20285 -20285 20285 -20285 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 1353 5615997 Higher Education Emergency Relief Fund (HEERF) 130 128000 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 212225 0 0 0 5854 0 25000 0 59011 0 302090 0 0 0 Mari Clements Provost 198555 0 0 0 762 0 4000 0 19613 0 222930 0 0 0 Kimberly Odom Thompson VP for Development (part year) 184891 0 0 0 719 0 3634 0 19028 0 208272 0 0 0 Theopolis Cosse Dean of School of Psychology 172800 0 0 0 1933 0 27700 0 2331 0 204764 0 0 0 Sandra Ann Shrader Exec, Director of Development 163028 0 0 0 777 0 3063 0 19391 0 186259 0 0 0 Amos Yong Dean School Theology & School of Intercultural Studies 87417 0 0 0 533 0 29191 0 56546 0 173687 0 0 0 John Kamperschroer Senior Director, Development 149878 0 0 0 1494 0 3038 0 17729 0 172139 0 0 0 Lauralee Farrer VP Communication 153400 0 0 0 1657 0 3218 0 11304 0 169579 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. 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 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 31300 0 1 1 509376 X 15 4544049 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 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 finalized 990 is then provided to the full Board of Trustees prior to filing the return. 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 192,562. Change in beneficial interest in trusts held by a related party 1,746,900. Change in Interest Rate Swap -1,839,355. Change in Value of Split Interest Agreements 149,074. CGF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 3639803 33070595 Fuller Theological Seminary CEF Properties LLC 135 N Oakland Ave Pasadena CA 91101 Support of Fuller Theological Seminary CA 106548 6288 Fuller Theological Seminary Fuller Endowment Fund LLC 385 E Colorado Blvd Suite 250 Pasadena CA 91101 352579788 Investment CA Fuller Theological Seminary Unrelated 5008155 90185165 0 331781 0 0.67610 Charitable Remainder Unitrust (7) 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 (1) 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