2020-07-14T11:25:47-05:00 2019-06-30 271728945 PKF O'CONNOR DAVIES LLP 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2018-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 SERENE JONES PRESIDENT 2126627100 2020-07-14 1 GARRETT M HIGGINS P00543209 2017129800 2020-07-14 47.19.39.42 2020-07-14 10:44:59 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 7DE755262FEF29385EB8F5A964582177ECA2C5F1 2018 2020-09-22 18:59:49Z SERENE JONES 3041 BROADWAY NEW YORK NY 10027 77021747 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 24 23 285 31 417741 -423176 8008077 4300435 11372968 12766110 3259951 8412044 331068 299767 22972064 25778356 4459089 5275449 0 0 10617439 10588386 0 0 1460345 12286048 14361255 27362576 30225090 -4390512 -4446734 127531134 161354366 19635749 55649837 107895385 105704529 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 22554232 5275449 12348369 PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 260 FULL-TIME AND PART-TIME STUDENTS 22554232 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 1 204 0 285 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X BRENT DICKMAN 2126627100 3041 BROADWAY NEW YORK NY 10027 THE REV DR SERENE JONES PRESIDENT 40.00 X X 326023 0 125733 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 REV DR JAMES HUDNUT-BEUMLER TRUSTEE - THRU 4/2019 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 WILLIAM LEHR JR TRUSTEE - THRU 9/2019 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 REV DR LAKEESHA WALROND TRUSTEE - THRU 2/2019 2.00 X 0 0 0 CHANG K PARK TRUSTEE EMERITUS 2.00 X 0 0 0 WILLIAM T REILAND TRUSTEE - THRU 9/2019 2.00 X 0 0 0 THE REV DR RAPHAEL G WARNOCK 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 EMILY NIELSEN JONES TRUSTEE - THRU 9/2019 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 FREDERICK DAVIE SECRETARY 40.00 X 244628 0 44144 BRENT DICKMAN TREASURER 40.00 X 220511 0 64040 MARTIN DUUS VP FOR DEVELOPMENT 40.00 X 174731 0 59667 KELLY B DOUGLAS DEAN EDS@UTS 40.00 X 174203 0 103956 ROBIN REESE VP OF COMMUNICATION 40.00 X 171757 0 93645 DERRICK HARKINS SENIOR VP FOR PUBLIC PROGR 40.00 X 140233 0 17543 MARY BOYS VP ACADEMIC AFFAIRS 40.00 X 130043 0 91014 SU YON PAK SENIOR DIRECTOR OF INTERGA 40.00 X 124610 0 39998 MICHAEL MALONEY DEPUTY VP OF BUILDINGS AND 40.00 X 124508 0 48648 EUAN CAMERON PROFESSOR 40.00 X 109927 0 97645 1941174 0 786033 17 0 1 0 BEYER BLINDER BELLE 120 BROADWAY 20TH FLOOR NEW YORK NY 10271 ARCHITECT SERVICES 2512426 HARVARD MAINTENANCE 2 SOUTH BISCAYNE BLVD SUITE 3650 MIAMI FL 33131 FACILITIES STAFFING 2041591 BERLIN ROSEN LTD 15 MAIDEN LANE SUTIE 1600 NEW YORK NY 10038 LEGAL SERVICES 485540 LEHRER LLC 888 7TH AVENUE 15TH FLOOR NEW YORK NY 10019 DESIGN CONSULTING 350469 PAUL WEISS RIFKIND WHARTON & GARRISON 1285 AVENUE OF THE AMERICAS NEW YORK NY 10019 LEGAL SERVICES 339004 20 4300435 55695 4300435 TUITION AND FEES 611710 7255292 7255292 RENTAL INCOME 532000 5451051 5033310 417741 STUDENT LOAN INTEREST 611710 51408 51408 AUXILIARY ENTERPRISES SALES & SER 532000 8359 8359 12766110 2295486 2295486 58000 0 58000 58000 58000 13191275 44168674 11915874 39327517 1275401 4841157 6116558 6116558 EVENT REGISTRATION 900099 173380 173380 UTS MERCHANDISE 900099 26943 26943 MISCELLANEOUS INCOME 900099 26669 26669 14775 14775 241767 25778356 12348369 417741 8711811 547917 547917 4727532 4727532 1782273 1201490 420701 160082 6782090 4572036 1600894 609160 608017 472119 80222 55676 810975 631971 103060 75944 605031 457148 92697 55186 149462 100757 35280 13425 120475 81216 28438 10821 666201 666201 2039709 966448 974035 99226 13785 4905 8754 126 533783 179157 247935 106691 2113247 1777012 312242 23993 652506 548627 96440 7439 883712 743109 130571 10032 525457 354228 124033 47196 FACILITIES AND MAINTENA 4677374 3871751 750677 54946 HOSPITALITY & TRAVEL 1162725 806021 272420 84284 OTHER EXPENSES 512170 344849 121203 46118 LIBRARY COST 165939 165939 144710 144710 30225090 22554232 6210513 1460345 700 2036 5520288 3155884 2935624 1459429 394925 516207 3000 113705 56090 382266 3975289 55430458 36567397 15239766 18863061 39715727 69130021 61696295 61604700 1528838 1367482 0 1224167 127531134 161354366 2266283 4236448 910683 1029760 117817 89937 12785466 10733207 3555500 39560485 19635749 55649837 X 31464429 31237543 23219709 20968825 53211247 53498161 107895385 105704529 127531134 161354366 X -4446734 1964702 291176 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 110389796 328266 5239142 5620489 613006 109723709 107941003 776503 8057606 5295801 1089515 110389796 95401816 3657111 16354837 5424814 2047947 107941003 105065206 1231388 -5285157 5609621 95401816 106549184 1354070 2690658 5528706 105065206 0.40260 0.48440 0.11300 0 0 1665987 1665987 37016758 31831041 5185717 4208181 4147610 60571 12539532 588746 11950786 18863061 COMMINGLED TRUST FUND 36965518 F ALTERNATIVE INVESTMENTS 20093337 F PRIVATE PARTNERSHIP INVESTMENTS 2360305 C ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 1983579 F BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 201961 F 61604700 POSTRETIREMENT BENEFITS LIABILITIES 1828316 GIFT ANNUITY PAYABLE 886940 REFUNDABLE ADVANCES - US GOVERNMENT GRANTS 678903 DEFERRED GAIN ON SALE-LEASEBACK TRANSACTION 36166326 39560485 X 23305875 1964702 415382 2380084 20925791 666201 4186364 4852565 25778356 25496731 0 25496731 666201 4062158 4728359 30225090 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, 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 182,168. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 233,214. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 4,027,706. PRIOR YEAR BAD DEBT NETTED AGAINST CONTRIBUTIONS 124,206. REVENUE NETTED AGAINST EXPENSES 34,452. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 4,027,706. REVENUE NETTED AGAINST EXPENSES 34,452. 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 20093337 0 0 0 0 0 0 20093337 0 20093337 0 0 1 0 0 0 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 215000 SUB-GRANT TO SUPPORT NATIONAL POOR PEOPLE'S CAMPAIGN PROGRAM ACTIVITIES, ORGANIZED IN PARTNERSHIP WITH UNION'S KAIROS CENTER AND REPAIRERS. THE NONZERO FOUNDATION INC 321 PROSPECT AVENUE PRINCETON NJ 08540 454015017 501(C)3 160000 SUB-GRANT UNDER INSIGHT PROJECT GRANT TO FACILITATE NUMBER OF SPECIAL EVENTS AND MEDIA SUPPORT PALANTE HARLEM INC 1411 AMSTERDAM AVENUE NEW YORK NY 10027 800209989 501(C)3 150000 AS PART OF A COMMUNITY BENEFITS AGREEMENT, THIS GRANT SUPPORTS A PARTNERSHIP BETWEEN PA'LANTE AND UTS TO ADDRESS HOMELESSNESS, DISPLACEMENT, AND EXPAND SOCIAL JUSTICE IN THE MORNINGSIDE HEIGHTS NEIGHBORHOOD. 3 GRANTS, SCHOLARSHIPS AND FELLOWSHIPS FOR TUITION 217 4710283 TUITION REMISSION 6 17249 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 282991 0 0 0 43032 0 37371 0 88362 0 451756 0 0 0 FREDERICK DAVIE SECRETARY 176628 0 0 0 68000 0 29991 0 14153 0 288772 0 0 0 BRENT DICKMAN TREASURER 220511 0 0 0 0 0 27945 0 36095 0 284551 0 0 0 MARTIN DUUS VP FOR DEVELOPMENT 174731 0 0 0 0 0 22307 0 37360 0 234398 0 0 0 KELLY B DOUGLAS DEAN EDS@UTS 150203 0 0 0 24000 0 19744 0 84212 0 278159 0 0 0 ROBIN REESE VP OF COMMUNICATION 171757 0 0 0 0 0 21870 0 71775 0 265402 0 0 0 DERRICK HARKINS SENIOR VP FOR PUBLIC PROGR 74128 0 0 0 66105 0 17412 0 131 0 157776 0 0 0 MARY BOYS VP ACADEMIC AFFAIRS 127442 0 0 0 2601 0 19755 0 71259 0 221057 0 0 0 SU YON PAK SENIOR DIRECTOR OF INTERGA 122045 0 0 0 2565 0 15578 0 24420 0 164608 0 0 0 MICHAEL MALONEY DEPUTY VP OF BUILDINGS AND 123758 0 0 0 750 0 16464 0 32184 0 173156 0 0 0 EUAN CAMERON PROFESSOR 107154 0 0 0 2773 0 14957 0 82688 0 207572 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 - $61,409 KELLY B DOUGLAS - 61,409 ROBIN REESE - 34,812 EUAN CAMERON - 56,405 MARY BOYS - $56,405 X 4 55695 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 233,214. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 182,168. PRIOR YEAR BAD DEBT NETTED AGAINST CONTRIBUTIONS -124,206. 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.