2015-02-12T17:11:19-06:00 2014-06-30 363990892 Capin Crouse LLP 3010 Saturn Street Suite 205 Brea CA 92821 990 2013-07-01 956001907 The Master's College and Seminary MAST 6612593540 21726 Placerita Canyon Road Santa Clarita CA 913211200 Jason A Hartung CFO 6612593540 2015-02-12 1 David C Moja P00747006 7149619300 2013 2016-03-07 17:11:31Z Jason A Hartung 21726 Placerita Canyon Road Santa Clarita CA 913211200 49945650 0 X www.masters.edu; www.tms.edu X 1927 CA Christian liberal arts college and theological seminary existing to advance the Kingdom of the Lord 18 13 1070 30 0 0 5179271 6050807 39893007 39668265 1100713 1583095 41966 84272 46214957 47386439 10511276 10857629 0 0 21701162 21730658 0 0 1542461 11474845 11625403 43687283 44213690 2527674 3172749 81023447 84453746 38323143 38935225 42700304 45518521 X TMCS exists to advance the Kingdom of the Lord Jesus Christ through education. This is accomplished through unreserved commitment to worshipping God, authority of Scripture, personal holiness, serving the local church, and penetrating the world with the Truth. 0 0 31484665 10857629 32013795 Four year liberal arts academic program - approximately 1,000 students; Masters Degrees and Credential program - approximately 60 students; Degree Completion program - approximately 150 students; Seminary advance degrees - approximately 400 students.TMCS exists to advance the Kingdom of the Lord Jesus Christ. The college equips men and women for excellence in service to Him in strategic fields of ministry and vocation worldwide. The seminary equips godly men to be pastors or trainers of pastors for excellence in service to Christ in strategic fields of Christian ministry. This is accomplished through unreserved commitment to worshipping God, authority of Scripture, personal holiness, serving the local church, and penetrating the world with the Truth. 5733029 7686188 Dormitory Facilities, Food Service Operations, Bookstore for student use. 37217694 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 1 332 0 1 1070 1 0 0 0 0 0 1 1 0 0 0 0 X 18 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO X Phil Ross Controller and Assistant Treasurer 6612593540 21726 Placerita Canyon Road Santa Clarita CA 913211200 X John MacArthur President & Board Member 15.00 X X 43074 0 19316 James W Rickard Chairman 2.00 X X 0 0 0 Tom Pennington Vice-Chairman 1.00 X X 0 0 0 David Wismer Secretary 2.00 X X 0 0 0 Richard Riddle Treasurer 1.00 X X 0 0 0 Jack Babbitt Board Member 1.00 X 0 0 0 Philip DeCourcy Board Member 1.00 X 0 0 43660 Louis Herwaldt Board Member 1.00 X 0 0 0 Bryan Hughes Board Member 1.00 X 0 0 0 John Anderson Jr- Part Year Board Member 1.00 X 0 0 0 Chris Hamilton Board Member 1.00 X 0 0 0 Steve Lawson Board Member & Adjunct Fac 4.00 X 20663 0 13650 Robert Provost Board Member 1.00 X 0 0 0 S Lance Quinn Board Member & Adjunct Fac 4.00 X 13000 0 40950 George Sanders Board Member 1.00 X 0 0 0 John vanWindergen Board Member 1.00 X 0 0 0 Harry Walls III Board Member 1.00 X 0 0 0 Bill Zimmer - Part Year Board Member 1.00 X 0 0 0 Felix Martin del Campo Board Member 1.00 X 0 0 0 E Lee Duncan - Part Year Board Member 1.00 X 0 0 0 Randy Kirkland - Part Year Board Member 1.00 X 0 0 0 Phil Ross Controller 40.00 X 96005 0 11263 Jason Hartung CFO 40.00 X 120810 0 16090 Richard Mayhue Sem Exec Vice President & Provost 40.00 X 54845 0 146416 Mark Tatlock College Exec Vice President & Provost 40.00 X 63940 0 99897 Nate Prince College CIO 40.00 X 122972 0 16090 Thomas Halstead Chair, Biblical Studies 40.00 X 63675 0 76014 Michael Vlach Seminary Professor 40.00 X 54387 0 96363 Michael Grisanti Seminary Professor 40.00 X 76692 0 126781 Alexander Granados College VP Academics 40.00 X 130065 0 13527 860128 0 720017 3 0 1 0 Intertex General Contractors 28338 Constellation Road 900 Valencia CA 91355 Construction 2870010 Bon Appetit 21726 Placerita Canyon Road Santa Clarita CA 91355 Food Services 1620257 Staples Construction Co Inc 1501 Eastman Ave Ventura CA 93003 Construction 781571 BJ Development & Construction 24135 Railroad Ave Newhall CA 91321 Construction 425780 Riker Construction Inc PO Box 220368 Newhall CA 91322 Construction 273060 16 66474 144527 5839806 35990 6050807 Student Tuition and Fe 611710 32013795 32013795 Auxiliary Enterprises 611710 7236582 7236582 Other Program Service 611710 417888 417888 39668265 582565 582565 48772 48772 76820 48273 28547 28547 28547 3465378 2464308 540 1001070 -540 1000530 1000530 21325 66474 46090 -24765 -24765 Workmans Comp Rebate 524298 27096 27096 Other Miscellaneous 900099 4622 4622 31718 47386439 39699983 0 1635649 10857629 10857629 1006026 137276 868750 16007725 12944591 2302605 760529 97998 77702 12533 7763 3713406 2878837 672202 162367 905503 662221 195430 47852 410642 407768 2299 575 25949 4200 21347 402 85840 85840 283305 143377 57411 82517 513691 294404 172228 47059 1777449 1484221 156499 136729 428166 267922 113084 47160 1925690 1674239 219846 31605 1177100 1068277 43604 65219 644947 588865 23336 32746 472061 377649 75530 18882 1803388 1442710 288542 72136 374496 272782 81371 20343 Food Service Charges 1702679 1633024 61078 8577 44213690 37217694 5453535 1542461 2499584 297355 8983617 8676401 156295 222623 95464 85464 1679274 1575616 75297225 30972555 42274033 44324670 21541626 25369588 3793554 3902029 81023447 84453746 2043299 1150243 1803856 1594545 30000000 30000000 800000 2774636 3665217 432425 378365 1268927 1346855 38323143 38935225 X 21549278 21994091 4966575 6361716 16184451 17162714 42700304 45518521 81023447 84453746 X 3172749 1676057 -2030589 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18766259 863004 2383883 414286 21598860 16986668 486532 1732749 439690 18766259 16080071 328652 705963 128018 16986668 10940640 3297536 1906875 64980 16080071 8973242 1151190 865317 49109 10940640 1.00000 1 0 3024496 3024496 43377396 18781512 24595884 302042 161941 140101 12733757 9666062 3067695 15859534 2363040 13496494 44324670 Federal Government Perkins Loan Program Liability 387662 Due to Annuitants 509567 Due to Trustors and Other Remainderman under Trust Agreements 449626 1346855 X 38412001 1676057 -10744858 -9068801 47480802 -94363 -94363 47386439 35593784 2237723 2237723 33356061 10857629 10857629 44213690 Part V, Line 4: Scholarships and organization expenses. Part X, Line 2: The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of June 30, 2014 and 2013, TMCS had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Student financial aid netted with tuition revenue -10,857,629. Net change in split interest agreements 112,771. Part XI, Line 4b - Other Adjustments: Rent expense -48,273. Special event expense -46,090. Part XII, Line 2d - Other Adjustments: Rent expense 48,273. Special event expense 46,090. Write off of construction in progress 2,143,360. Part XII, Line 4b - Other Adjustments: Student financial aid netted with tuition revenue 10,857,629. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 All promotional recruiting materials and broadcast advertising clearly state our racially non-discriminatory policy. Middle East and North Africa 1 4 Program Services Instructional Services - Education Semester Program 503794 1 4 0 0 1 4 503794 0 503794 0 0 0 0 0 0 Golf Tournament 87799 66474 21325 22904 19020 4166 87799 66474 21325 22904 19020 4166 46090 -24765 1 Institutional Scholarships 1219 10857629 Part I, Line 2: Master's College and Seminary awards financial aid grants to students in accordance with the College's institutional financial aid policies. All scholarships are awarded to current students of the institution, thus enabling the institution to track their academic performance and use of all scholarship funds. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Richard Mayhue Sem Exec Vice President & Provost 53321 0 0 0 1524 0 55153 0 91845 0 201843 0 0 0 Mark Tatlock College Exec Vice President & Provos 63772 0 0 0 168 0 8807 0 91678 0 164425 0 0 0 Thomas Halstead Chair, Biblical Studies 62705 0 0 0 970 0 10751 0 65647 0 140073 0 0 0 Michael Vlach Seminary Professor 54296 0 0 0 91 0 12474 0 84334 0 151195 0 0 0 Michael Grisanti Seminary Professor 76466 0 0 0 226 0 18291 0 108912 0 203895 0 0 0 Part I, Line 1a Housing allowances for the following individuals was reported on Part VII - Richard Mayhue $80,000; Mark Tatlock $75,000; Thomas Halstead $54,000; Michael Vlach $68,168; Michael Grisanti $33,000. A California Statewide Communities Development 2002-04-16 16000000 Campus building and refinance of long term debt. 0 0 0 B California Statewide Communities Development 2007-08-31 14000000 Campus buildings. 0 0 0 A 9344749 307500 9037349 2005 1 0 1 1 B 14000000 280000 6106512 7613488 0 0 0 1 A 0 0 1 0 0 0 0 0 B 0 0 1 0 0 0 0 0 A 0 0 1 0 1 0 0 0 0 B 0 0 1 0 1 0 0 0 0 A 0 B 0 Mark Tatlock Key Employee Housing Equity - Shared X 65464 65464 0 1 1 Michael Vlach Highest Compensated Employee Relocation Loan X 100000 20000 0 1 1 John Babbitt Board Member Fund Construction Project X 800000 800000 0 1 1 885464 98260 Tuition Remission James M Rickard Son of Board Member 85423 W-2 Compensation 0 X 4946 Fair Market Value X 1 4919 Market Value X Musical Instr 1 23000 Fair Market Value X Other 6 3125 Fair Market Value 1 0 1 0 Part I, Column (b): Number of contributions received. Form 990, Part VI, Section B, line 11 The Form 990 is prepared by an independent CPA firm and is reviewed by the the board of directors prior to filing. Form 990, Part VI, Section B, line 12c The Conflict of Interest Policy is signed annually by all board members and corporate officers. The Finance Committee reviews all documents and recommends any necessary action. The Finance Committee follows up during the year to ensure the policy is enforced. Form 990, Part VI, Section B, line 15 Annual evaluations are done by the Finance Committee, which is made up of independent persons, using comparative data obained from outside sources. The results of the evaluations are documented in the Finance Committee minutes. Form 990, Part VI, Section C, line 19 The organization makes its articles of incorporation, bylaws, conflict of interest policy, annual audited financial statements, and Form 990 (except for donor information) available to all individuals or companies when requested through the accounting office. Form 990, Part VII, Section A Two ministers on the board of directors are paid as adjunct faculty for the seminary teaching classes involving pastoral ministries. Form 990, Part XI, line 9: Net change in split interest agreements 112,771. Write off of construction in progress -2,143,360. Form 990, Part XII, Line 2c: The organization's Board assumes responsibility of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. Form 990, Part IX, Line 11f Investment management fees are deducted from gross invesetment income prior to the recording of investment income. The fees deducted this reported year were $139,626.