2021-05-17T15:34:28-05:00 2020-06-30 271728945 PKF O'CONNOR DAVIES LLP 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2019-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 SERENE JONES PRESIDENT 2126627100 2021-05-17 1 GARRETT M HIGGINS P00543209 2017129800 2021-05-17 2019 2022-09-23 18:48:47Z SERENE JONES 3041 BROADWAY NEW YORK NY 10027 112303217 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 22 21 303 26 0 0 4300435 6357446 12766110 10978419 8412044 65506560 299767 1014647 25778356 83857072 5275449 5140852 0 0 10588386 11282019 0 0 1125500 14361255 13935691 30225090 30358562 -4446734 53498510 161354366 221087990 55649837 62777224 105704529 158310766 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 23455260 5140852 10978419 PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 260 FULL-TIME AND PART-TIME STUDENTS 23455260 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 1 139 0 303 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X MAUREEN HARRIGAN 2126627100 3041 BROADWAY NEW YORK NY 10027 THE REV DR SERENE JONES PRESIDENT 40.00 X X 323228 0 129270 FREDERICK DAVIE VICE PRESIDENT 40.00 X 256855 0 48176 BRENT DICKMAN TREASURER 40.00 X 226565 0 67928 ROBIN REESE VP OF COMMUNICATION 40.00 X 177042 0 101655 KELLY B DOUGLAS DEAN EDS@UTS 40.00 X 163086 0 98602 MARY C BOYS ACADEMIC DEAN 40.00 X 124885 0 92312 MICHAEL MALONEY JR DEPUTY VP OF BUILDINGS AND 40.00 X 124852 0 48371 SU YON PAK DIRECTOR OF FIELD BASED EDUCATION 40.00 X 127891 0 41053 VANESSA HUTCHINSON VP OF ADMISSIONS & FA 40.00 X 119354 0 30411 JONATHAN SOTO ASSOCIATE VP FOR STRATEGIC INITIATIVES 40.00 X 119348 0 17459 WILLIAM CANDELARIA ESQ CHAIR 2.00 X X 0 0 0 CLIFFORD HUDSON VICE CHAIR 2.00 X X 0 0 0 CYNTHIA A FIELDS TRUSTEE 2.00 X 0 0 0 MILLICENT FORTUNOFF 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 MICHAEL J JOHNSTON TRUSTEE 2.00 X 0 0 0 DAVID KLASSEN TRUSTEE 2.00 X 0 0 0 DR TIMOTHY LIGHT 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 SISTER JOAN MAGNETTI TRUSTEE 2.00 X 0 0 0 REV CANON PETER KOON TRUSTEE 2.00 X 0 0 0 BLAKE FRANKLIN ESQ TRUSTEE 2.00 X 0 0 0 THE REV NANCY STEEGER JENNINGS TRUSTEE 2.00 X 0 0 0 DAVID M MCALPIN TRUSTEE 2.00 X 0 0 0 JASON G WRIGHT TRUSTEE 2.00 X 0 0 0 THE REV STAN J SLOAN TRUSTEE 2.00 X 0 0 0 GEOFFREY BROWN TRUSTEE 2.00 X 0 0 0 CAROLINE SHARP TRUSTEE 2.00 X 0 0 0 THE REV WINNIE VARGHESE TRUSTEE 2.00 X 0 0 0 THE REV DR RAPHAEL G WARNOCK TRUSTEE THRU 3/2020 2.00 X 0 0 0 1763106 0 675237 18 0 1 0 CONSIGLI CONSTRUCTION NY LLC 199 W RD 100 PLEASANT VALLEY NY 12569 CONSTRUCTION SERVICES 10642906 BEYER BLINDER BELLE 120 BROADWAY 20TH FLOOR NEW YORK NY 10271 ARCHITECT SERVICES 1763296 HARVARD MAINTENANCE PO BOX 95000-1112 PHILADELPHIA PA 10027 FACILITIES STAFFING 1758400 SKYLINE RESTORATION INC 49-28 31ST PL LONG ISLAND CITY NY 11101 ARCHITECT SERVICES 1133037 LEHRER CUMMING 25220 HANCOCK AVE SUITE 440 MURRIETA CA 92562 DESIGN CONSULTING 596343 18 45297 6312149 1034858 6357446 TUITION AND FEES 611710 7307925 7307925 RENTAL INCOME 532000 3613724 3613724 STUDENT LOAN INTEREST 611710 49743 49743 AUXILIARY ENTERPRISES SALES & SER 532000 7027 7027 10978419 2448361 2448361 63000 0 63000 63000 63000 26187424 65316920 26041135 2405010 146289 62911910 63058199 63058199 SALE OF AIR RIGHTS - MISC. INC 900099 600000 600000 MISCELLANEOUS INCOME 900099 153788 153788 UTS MERCHANDISE 900099 125883 125883 71976 71976 951647 83857072 10978419 0 66521207 378503 378503 4762349 4762349 1639098 1135046 395644 108408 7325537 5072802 1768232 484503 612314 424016 147800 40498 1091149 755601 263380 72168 613921 425129 148188 40604 50960 13835 37125 94102 65164 22714 6224 645360 645360 2347857 1610101 614813 122943 15196 6963 8233 583264 302951 197602 82711 2895789 2734595 149135 12059 261052 219179 38740 3133 1048762 880541 155636 12585 519779 359937 125464 34378 FACILITIES AND MAINTENA 3708650 3008550 656369 43731 HOSPITALITY & TRAVEL 966205 748993 158395 58817 OTHER EXPENSES 512260 371781 137741 2738 LIBRARY COST 179224 179224 107231 107231 30358562 23455260 5777802 1125500 2036 700 3155884 1608052 1459429 1015160 516207 663645 56090 3975289 3349952 114768012 37616159 18863061 77151853 69130021 83684447 61604700 51148906 1367482 1241108 1224167 1224167 161354366 221087990 4236448 9404501 1029760 31335 89937 385972 10733207 17824208 39560485 35131208 55649837 62777224 X 31237543 87934961 74466986 70375805 105704529 158310766 161354366 221087990 X 53498510 -458474 -433799 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 109723709 207936 1461683 5811501 610000 104971827 110389796 328266 5239142 5620489 613006 109723709 107941003 776503 8057606 5295801 1089515 110389796 95401816 3657111 16354837 5424814 2047947 107941003 105065206 1231388 -5285157 5609621 95401816 0.39900 0.50790 0.09310 0 0 1346074 1346074 37016758 32825123 4191635 4289317 4202290 87027 72115863 588746 71527117 77151853 COMMINGLED TRUST FUND 27361345 F ALTERNATIVE INVESTMENTS 19633473 F PRIVATE PARTNERSHIP INVESTMENTS 1948436 C ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 1986794 F BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 218858 F 51148906 POSTRETIREMENT BENEFITS LIABILITIES 2177412 GIFT ANNUITY PAYABLE 1085848 REFUNDABLE ADVANCES - US GOVERNMENT GRANTS 678903 DEFERRED GAIN ON SALE-LEASEBACK TRANSACTION 29331746 PAYCHECK PROTECTION PROGRAM LOAN 1857299 35131208 X 78106302 -458474 -458474 78564776 636430 4655866 5292296 83857072 25500065 0 25500065 636430 4222067 4858497 30358562 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 PERIODS PRIOR TO JULY 1, 2017. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 4,154,669. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 183,402. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 250,397. PRIOR YEAR BAD DEBT NETTED AGAINST CONTRIBUTIONS 32,530. REVENUE NETTED AGAINST EXPENSES 34,868. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 4,154,669. PRIOR YEAR BAD DEBT NETTED AGAINST CONTRIBUTIONS 32,530. REVENUE NETTED AGAINST EXPENSES 34,868. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT ON ITS WEBSITE, 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. CENTRAL AMERICA, CARIBBEAN, ASIA AND EUROPE 0 0 INVESTMENTS 19633473 0 0 0 0 0 0 19633473 0 19633473 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 310000 SUB-GRANT TO SUPPORT NATIONAL POOR PEOPLE'S CAMPAIGN PROGRAM ACTIVITIES, ORGANIZED IN PARTNERSHIP WITH UNION'S KAIROS CENTER AND REPAIRERS. INTERFAITH YOUTH CORE 141 W JACKSON BLVD SUITE 3200 CHICAGO IL 60604 300212534 501(C)3 20000 COLLABORATIVE WORK WITH UNION THE FREEDOM CENTER FOR SOCIAL 4910 ALBEMARLE ROAD SUITE 201 CHARLOTTE NC 28205 454000599 501(C)3 15000 VISION STIPEND UNDER LILLY ENDOWMENT GRANT 3 GRANTS, SCHOLARSHIPS AND FELLOWSHIPS FOR TUITION 221 4724949 STIPENDS 5 25000 TUITION REMISSION 5 12400 PART I, LINE 2: AS UNION DOES NOT USUALLY PROVIDE GRANT FUNDS TO OTHER ORGANIZATIONS, STANDARD POLICIES AND PROCEDURES ARE NOT IN PLACE FOR GRANTING FUNDS. BOTH GRANTS REPORTED WERE GRANTED FROM PROGRAM SPECIFIC FUNDS TO ORGANIZATIONS PARTNERING WITH UNION TO DELIVER MISSION CENTRIC PROGRAMMING. GRANTEES ARE SUBJECT TO ALL COMPLIANCE AND REPORTING REQUIREMENTS AS UNION. 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 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 281728 0 0 0 41500 0 38400 0 90870 0 452498 0 0 0 FREDERICK DAVIE VICE PRESIDENT 188855 0 0 0 68000 0 31461 0 16715 0 305031 0 0 0 BRENT DICKMAN TREASURER 226565 0 0 0 0 0 28585 0 39343 0 294493 0 0 0 ROBIN REESE VP OF COMMUNICATION 177042 0 0 0 0 0 22371 0 79284 0 278697 0 0 0 KELLY B DOUGLAS DEAN EDS@UTS 163086 0 0 0 0 0 21139 0 77463 0 261688 0 0 0 MARY C BOYS ACADEMIC DEAN 124885 0 0 0 0 0 19166 0 73146 0 217197 0 0 0 MICHAEL MALONEY JR DEPUTY VP OF BUILDINGS AND 124852 0 0 0 0 0 16841 0 31530 0 173223 0 0 0 SU YON PAK DIRECTOR OF FIELD BASED EDUCATION 127891 0 0 0 0 0 15935 0 25118 0 168944 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. BECAUSE THE QUESTION ASKS IF THERE IS HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE, THE SEMINARY HAS NOT CHECKED THE BOX; THE SEMINARY CONSIDERS THAT THIS HOUSING IS FOR INSTITUTIONAL USE, NOT FOR PERSONAL USE." 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 ROBIN REESE - $38,568 MARY BOYS - $57,333 X 6 1034858 AVERAGE HI/LO 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 FY18. 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 XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -183,402. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -250,397. 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.