2014-05-15T13:17:53-05:00 2013-06-30 271728945 O'CONNOR DAVIES LLP 15 ESSEX RD PARAMUS NJ 076521412 990 2012-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 SERENE JONES 2126627100 2014-05-12 1 BRIAN M FLYNN P00739850 2017129800 2012 2015-11-30 17:44:51Z SERENE JONES 3041 BROADWAY NEW YORK NY 10027 21549923 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 28 27 270 60 830910 -24922 5902315 3649793 4723434 4704998 2608106 1444972 6292991 6198064 19526846 15997827 3109072 3326220 0 0 8816413 9712031 0 0 1430996 8039222 7927474 19964707 20965725 -437861 -4967898 111955202 118574037 16091727 15882693 95863475 102691344 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 14919673 3326220 10635444 PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 300 FULL-TIME AND PART-TIME STUDENTS 14919673 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 82 0 270 1 1 1 0 0 0 0 0 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X RICHARD MADONNA 2122801402 3041 BROADWAY NEW YORK NY 10027 THE REV DR SERENE JONES 40.00 X X 277999 0 189927 DAVID M CALLARD 1.50 X 0 0 0 SHARON M DAVISON 1.50 X 0 0 0 BLAKE T FRANKLIN 1.50 X 0 0 0 CATHERINE M GEORGE 1.50 X 0 0 0 THE HON WILLIAM H HUDNUT III 1.50 X 0 0 0 KEVIN B JENNINGS 1.50 X 0 0 0 ANNE HALE JOHNSON 1.50 X 0 0 0 MICHAEL J JOHNSTON 1.50 X 0 0 0 THE REV DR EMMA JORDAN-SIMPSON 1.50 X X 0 0 0 MICHAEL J KELLY 1.50 X 0 0 0 DR TIMOTHY LIGHT 1.50 X 0 0 0 SR JOAN MAGNETTI 1.50 X 0 0 0 DR JOHN D MAGUIRE 1.50 X X 0 0 0 GINA G MACARTHUR 1.50 X 0 0 0 ROBERT A MILANESE 1.50 X 0 0 0 CALVIN M MEW 1.50 X 0 0 0 CHANG K PARK 1.50 X 0 0 0 HE GENE RAINBOLT 1.50 X 0 0 0 SUSAN K REED 1.50 X 0 0 0 DR W ANN REYNOLDS 1.50 X 0 0 0 JAMES SLIGAR 1.50 X 0 0 0 THE VERY REV PETERO AN SABUNE 1.50 X 0 0 0 DR CATHARINE R STIMPSON 1.50 X 0 0 0 H MITCHELL WATSON JR 1.50 X 0 0 0 DR MARY H WHITE 1.50 X X 0 0 0 MICHELE R CAMERON 1.50 X 0 0 0 MARGARET M CANNELLA 1.50 X 0 0 0 WOLCOTT B DUNHAM JR 1.50 X 0 0 0 MIRIAM MARCUS WARDEN 1.50 X 0 0 0 WILLIAM T REILAND 1.50 X 0 0 0 THE REV AMY GOPP 1.50 X 0 0 0 THE REV DR DERRICK HARKINS 1.50 X 0 0 0 THE REV FREDERICK DAVIE 40.00 X 197018 0 39327 RICHARD MADONNA 40.00 X 206351 0 36223 BOB BOMERSBACH 40.00 X 157217 0 34029 JAMES CONE 40.00 X 135353 0 109195 973938 0 408701 12 0 1 0 NEWMARK GRUBB KNIGHT FRANK 125 PARK AVE NEW YORK NY 10017 FACILITIES STAFFING 1761726 BROADWAY 104 LLC 2723 BROADWAY NEW YORK NY 10025 CATERING/FOOD SERVICE 179204 PROVEN GENERAL ENTERPRISES 435 RIVERSIDE DRIVE SUITE F NEW YORK NY 10025 REPAIRS 148853 CAMBRIDGE ASSOCIATES LLC PO BOX 83232 CHICAGO IL 60691 INVESTMENT MANAGEMENT ADVICE 143003 G4S SECURE SOLUTIONS INC PO BOX 83232 CHICAGO IL 60691 SECURITY SERVICES 136439 10 90872 3558921 687446 3649793 TUITION AND FEES 611710 4693312 4693312 AUXILIARY ENTERPRISES SALES & SER 532000 11686 11686 4704998 988558 988558 5930446 0 5930446 5930446 5099536 830910 6008510 5552096 456414 456414 456414 OTHER REVENUE 900099 144397 144397 STUDENT FEES 900099 76248 76248 USQR INCOME - SUBSCRIPTION 900099 19722 19722 27251 27251 267618 15997827 9804534 830910 1712590 3326220 3326220 1272234 627247 456458 188529 6462130 3892581 2121799 447750 1194511 720971 347491 126049 783156 472689 227825 82642 118160 114464 3696 74584 74584 381686 381686 421728 49416 60763 311549 20564 14957 5607 992179 595497 297962 98720 889155 881723 6843 589 30184 11289 18895 114518 26291 32762 55465 652960 652960 1598703 1589031 9672 325185 321935 3250 FACILITIES AND MAINTENA 676170 642537 19876 13757 MISCELLANEOUS EXPENSE 616558 239262 368116 9180 DUES & SUBSCRIPTIONS 372962 248396 115272 9294 HOSPITALITY 301574 89526 128272 83776 340604 328097 12507 20965725 14919673 4615056 1430996 700 700 2798059 1638633 2077963 2051638 61883 730894 128432 101497 54993111 38259668 17199041 16733443 44789487 46851940 43238418 48806723 1525872 1542557 135347 116012 111955202 118574037 1877961 1781887 90178 83394 12104557 11918682 2019031 2098730 16091727 15882693 X 43350064 44867088 7696208 11696092 44817203 46128164 95863475 102691344 111955202 118574037 X -4967898 11658090 137677 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 84626367 1271807 13020766 4637730 94281210 86515547 3455200 -970522 4373858 84626367 77196953 1114603 14456447 4449811 88318192 72017409 669938 9310245 4800639 77196953 88636805 368392 -11994154 4993634 72017409 0.46750 0.47300 0.05950 0 0 1928226 1928226 46152331 34374501 11777830 3983434 3725498 257936 2929120 159669 2769451 16733443 COMMINGLED TRUST FUND 33020057 F HEDGE FUNDS 9510841 F INVESTMENT IN OIL AND GAS PARTNERSHIPS 4655927 C ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 1377058 C BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 242840 C 48806723 POSTRETIREMENT BENEFITS LIABILITIES 661711 GIFT ANNUITY PAYABLE 758116 REFUNDABLE ADVANCES - US GOVERNMENT GRANTS 678903 2098730 X 24467374 11658090 137677 11795767 12671607 3326220 3326220 15997827 17639505 0 17639505 3326220 3326220 20965725 PART IV, LINE 2B: THE SEMINARY HAS SECURE DEPOSITS FOR STUDENTS LIVING IN HOUSING RESIDENCES. WHEN THEY VACATE, IT WILL BE RETURNED TO THE STUDENTS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO PROVIDE LONG TERM SUPPORT FOR THE ORGANIZATION'S PROGRAM SERVICES DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 NOT SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE PERIODS PRIOR TO JUNE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 145,125. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -7,448. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 3,326,220. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 3,326,220. PART V - ENDOWMENT FUNDS: AS JUNE 30, 2010, THE ENDOWMENT FUND BALANCE WAS REDUCED BY $1,802,645 WHICH CONSISTS OF THE COMMON FUND OF $509,073 AND THE EXCESS OF DRAWDOWN AMOUNT OVER THE ACTUAL TRANSFER IN THE AMOUNT OF $1,293,572. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT ON ITS WEBSITE AND IN ALL HANDBOOKS AND LITERATURE DISTRIBUTED. THE ADMISSIONS BROCHURE DISCLOSES THAT IT SERVES STUDENTS OF SIGNIFICANT FINANCIAL NEED AND DIVERSE CULTURES. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 UNION THEOLOGICAL SEMINARY RECEIVED GRANTS FOR STUDENT FINANCIAL ASSISTANCE FROM THE U.S. DEPARTMENT OF EDUCATION. THESE ARE FOR STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM, FEDERAL PERKINS LOAN PROGRAM AND THE FEDERAL WORK STUDY PROGRAM. 1 GRANTS, SCHOLARSHIPS AND FELLOWSHIPS FOR TUITION 212 3326220 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: 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 X X 0 0 0 0 0 0 0 0 0 THE REV DR SERENE JONES 277999 0 0 0 0 0 28230 0 161697 0 467926 0 0 0 THE REV FREDERICK DAVIE 197018 0 0 0 0 0 25383 0 13944 0 236345 0 0 0 RICHARD MADONNA 206351 0 0 0 0 0 22279 0 13944 0 242574 0 0 0 BOB BOMERSBACH 157217 0 0 0 0 0 20085 0 13944 0 191246 0 0 0 JAMES CONE 135353 0 0 0 0 0 16142 0 93053 0 244548 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." X 16 687446 FMV OF SECURITIES 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 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, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS DISTRIBUTED ELECTRONICALLY TO THE MEMBERS OF THE AUDIT COMMITTEE FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY HAS DELEGATED ITS OVERSIGHT ROLE TO THE AUDIT COMMITTEE. ANY COMMENTS MADE BY THE AUDIT COMMITTEE ARE PRESENTED TO THE OFFICER. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR 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 REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY AT THE FIRST BOARD MEETING OF THE FISCAL YEAR. THE POLICY IS MONITORED BY THE EMPLOYEE'S IMMEDIATE SUPERVISOR IN CONJUNCTION WITH THE DIRECTOR, HR. IF A CONFLICT WERE TO ARISE, IT MUST BE REPORTED TO SUPERVISOR AND VP FINANCE. 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 EXECUTIVE COMPENSATION COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE, AFTER REVIEWING GUIDELINES AND COMPARABLE DATA IN THE UTS HUMAN RESOURCES OFFICE. FORM 990, PART VI, SECTION C, LINE 19 UNION THEOLOGICAL SEMINARY MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG. IN ADDITION, UNION THEOLOGICAL SEMINARY ALSO MAKES THEIR FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 145,125. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -7,448. FORM 990, PART XI 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.