2013-03-25T20:24:45-05:00 2012-05-31 BKD LLP 190 E Capitol Street Ste 500 Jackson MS 392012190 990 2011-06-01 640428676 Reformed Theological Seminary % E BRADLEY TISDALE REFO 6019231600 5422 Clinton Boulevard Jackson MS 39209 E BRADLEY TISDALE 2013-04-15 true Penny Wood CPA 6019486700 2013-04-15 2011 2016-02-25 16:41:14Z Michael A Milton 2101 Carmel Road Charlotte NC 28226 27058136 false X www.rts.edu X 1964 MS To serve the church by preparing its leaders through a program of graduate theological education. 17 16 345 0 16156 14498 6803960 8294760 7739082 8135859 1432625 1465203 340603 564689 16316270 18460511 2873511 3162597 0 0 9622803 9692814 0 0 1612400 5511571 5747522 18007885 18602933 -1691615 -142422 79333242 76146320 3250634 3122212 76082608 73024108 REFORMED THEOLOGICAL SEMINARY (RTS) EXISTS TO GLORIFY THE TRIUNE GOD AND TO SERVE HIS CHURCH IN ALL BRANCHES OF EVANGELICAL CHRISTIANITY, ESPECIALLY PRESBYTERIAN AND REFORMED CHURCHES, BY PROVIDING REFORMED GRADUATE THEOLOGICAL EDUCATION THAT IS GLOBALLY ACCESSIBLE. RTS EQUIPS ITS STUDENTS FOR MINISTRY, PRIMARILY THROUGH PASTORAL TRAINING, TO BE SERVANT LEADERS MARKED BY "A MIND FOR TRUTH, A HEART FOR GOD." false false 13438703 3162597 8135859 The seminary serves approximately 2,500 students through campuses in Jackson, MS, Orlando, FL, Charlotte, NC, Metro Washington, DC, Atlanta, GA, distance education programs, and extension sites in Memphis, TN, Houston, TX, and Sao Paulo, Brazil. Students are enrolled in the following academic degree programs: Master of Divinity, Masters of Arts, Masters of Arts (theological studies), Masters of Arts (biblical studies), Masters of Arts in Christian Education, Masters of Arts (Christian thought), Masters in Counseling, Masters in Marriage and Family Therapy and Counseling, Masters of Arts in Missions, Masters of Arts (religion), Masters of Theology, Doctor of Ministry, and Doctor of Philosophy. 13438703 true true false false false false false false false true true true false false true true false true true true true false true false false false false false true true false false false true false false true false true false false false true true true true false false true 176 0 true 345 true true true false false false false false false false false false X 17 16 false false false false false false false true true false true true true true true true true true true true false AK AZ CO DC KY MD MA MI NH NJ NY OH OK OR WA WI X E BRADLEY TISDALE 6019231600 5422 CLINTON BOULEVARD Jackson MS 39209 BF Bracy 1.0 X 0 0 0 John A Crawford 1.0 X 0 0 0 Collie W Lehn 1.0 X 0 0 0 David Lucas 1.0 X 0 0 0 J Scott Redd 1.0 X 0 0 0 James L Moore 1.0 X 0 0 0 Roderick Russ III 1.0 X 0 0 0 Warren Williamson 1.0 X 0 0 0 Donald G Breazeale 1.0 X 0 0 0 Larry W Edwards 1.0 X 0 0 0 Robert H MacLellan 1.0 X 0 0 0 Richard L Ridgway 1.0 X 0 0 0 James M Seneff Jr 1.0 X 0 0 0 James M Baird 1.0 X 0 0 0 Granville Dutton 1.0 X 0 0 0 George R Fair 1.0 X 0 0 0 William M Mounger II 1.0 X 0 0 0 Robert C Cannada Jr 50.0 X 145883 0 23375 E Bradley Tisdale 50.0 X 102051 0 22646 M Steve Wallace 50.0 X 114847 0 21821 Lynwood C Perez 50.0 X 115227 0 11701 Robert J Cara 50.0 X 113181 0 22295 Guy L Richardson 50.0 X 41532 0 94567 Michael A Milton 50.0 X 89898 0 88789 Andrew J Peterson 50.0 X 120902 0 30639 John Sowell 50.0 X 98131 0 32315 Donald W Sweeting 50.0 X 95129 0 66728 Robert T Bridges 50.0 X 104744 0 24504 Mark D Futato 40.0 X 103165 0 20538 1244690 0 459918 8 false true false Technical Innovation 2975 Northwoods Parkway NORCROSS GA 30071 Information Tech 169039 Walker 360 2501 E 5th Street MONTGOMERY AL 36107 Printing 151854 Securitas Security Services USA 12672 Collections Center Drive CHICAGO IL 60693 Security 134841 Westbrook Services Corp 1411 South Orange Blossom Trail ORLANDO FL 32805 HVAC 101764 4 67662 8227098 674590 8294760 TUITION AND FEES 611600 8135859 8135859 8135859 829980 16156 813824 0 0 1009729 621945 387784 387784 280807 106977 8117455 36558 7518791 0 598664 36558 635223 635223 0 0 525229 456889 68340 68340 COUNSELING INCOME 900099 65024 65024 FINANCE CHARGES 900099 24333 24333 COPY INCOME 900099 4270 4270 14938 14938 108565 18460511 8525231 16156 1624364 0 3156454 3156454 6143 6143 0 1468870 196978 852716 419176 0 6492457 4856629 961407 674421 453887 341060 89773 23054 817116 641992 136483 38641 460484 302515 106506 51463 0 14732 7889 6843 77710 77710 0 0 169721 169721 573885 457337 116548 136220 16226 119994 714702 352962 221781 139959 251582 168581 72977 10024 0 711904 621910 89994 526386 296284 108725 121377 0 60932 34946 21093 4893 0 29556 29556 1499600 1316858 182742 142620 115214 27406 SECURITY 114557 106883 7674 SPECIAL EVENTS 73900 73900 VISA PROCESSING 71174 68924 2250 UNRELATED BUSINESS EXPENSE 1797 1797 576544 449731 109970 16843 18602933 13438703 3551830 1612400 2710522 1872644 119445 112321 7700 503142 239428 189516 0 55000 0 0 153426 145630 204601 205954 106978 150755 49341834 25595315 21891800 23746519 34094287 28581508 17855289 18636815 0 0 0 0 1949766 1946516 79333242 76146320 1002698 933256 0 0 729848 715099 0 0 0 0 0 0 0 0 0 0 1518088 1473857 3250634 3122212 X 49777538 44247059 24767003 27263892 1538067 1513157 76082608 73024108 79333242 76146320 X -142422 -2916078 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45527555 3267747 32737 18500 2060000 3462 46746077 45029609 1459964 69962 64250 964036 3694 45527555 46413625 1366294 89282 0 2835964 3628 45029609 42335381 10140561 5189 64000 6000000 3506 46413625 0.46000 0.00000 0.54000 false true true 899813 5602495 6502308 4006062 24248083 14278704 13975441 8393 699 7694 11069955 8921551 2148404 3507033 2394361 1112672 23746519 INTEREST IN HEDGE FUNDS 11979699 C INTEREST IN INTL EQUITY FUND 4029637 C INTEREST IN DOMESTIC EQUITY FD 1750000 C INTEREST IN PRIVATE EQUITY FD 873579 C NON-PUBLIC ST-BCC BANKSHARES 3900 C 18636815 0 ANNUITY OBLIGATIONS 1423029 STUDENT HOUSING DEPOSITS 50828 1473857 18460511 18602933 -142422 -2792785 -123293 -2916078 -3058500 12727817 -2792785 -3455611 -6248396 18976213 -515702 -515702 18460511 15786317 515702 515702 15270615 3332318 3332318 18602933 Part V, Line 4: The endowment funds are used to fund operating expenses, scholarships to students, and to make distributions to other 501(c)(3) organizations. Part X, Line 2: The consolidated financial statement effects of a tax position taken or expected to be taken are recognized in the consolidated 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 consolidated statements of activities. As of May 31, 2012 and 2011, the Seminary had no uncertain tax positions that qualify for recognition or disclosure in the consolidated financial statements. Part XI, Line 8: Other Adjustments: Change in Beneficial Interest in Trusts: ($123,293) Part XII, Line 2D: Other Adjustments: Investment Management Fees: ($169,721) Change in Beneficial Interest in Trusts: ($123,293) Reclass Scholarships: ($3,162,597) Part XII, Line 4B: Other Adjustments: Reclass Cost of Sales: ($456,889) Reclass Rental Expenses: ($58,813) Part XIII, Line 2D: Other Adjustments: Reclass Cost of Sales: $456,889 Reclass Rental Expense: $58,813 Part XIII, Line 4B: Other Adjustments: Reclass Scholarships: $3,162,597 Investment Management Fees: $169,721 true true true true true true true false false false false false false false false true false true Part I, Line 3: The Seminary's nondiscrimination policy is communicated to the general community through its official website (www.rts.edu) and catalog. Part I, Line 6a: The Seminary received payments from the Department of Veterans Affairs (GI Bill and Post 9/11 Veteran Education Funding) and from the Department of Military Affairs (Florida National Guard's Educational Dollars For Duty) for tuition and fees related to students that qualify for those benefits. true Central America and the Caribbean Investments 2788302 Europe (Including Iceland and Greenland) Grantmaking Scholarships 2700 East Asia and the Pacific Grantmaking Scholarships 729 South Asia Grantmaking Scholarships 608 Sub-Saharan Africa Grantmaking Scholarships 783 North America Grantmaking Scholarships 1080 South America Grantmaking Scholarships 243 South America 1 1 Program Services Instructional Costs 14452 Europe (Including Iceland and Greenland) Program Services Instructional Costs 4242 1 1 1 1 2813139 2813139 Scholarships Europe/Iceland/Greenland 2 2700 Scholarships FMV Scholarships East Asia/Pacific 1 729 Scholarships FMV Scholarships South Asia 1 608 Scholarships FMV Scholarships Sub-Saharan Africa 1 783 Scholarships FMV Scholarships North America 1 1080 Scholarships FMV Scholarships South America 1 243 Scholarships FMV true false true true false false Part I, Line 2: Records are maintained showing scholarship awards to specific individuals who live in regions outside of the United States. Part I, Line 3: The Seminary owns an interest in 2514 Multi-Strategy Fund, a hedge fund domiciled in the Cayman Islands. The book value of this investment as of 5/31/2012 was $2,788,302. Part IV, Line 1: The Seminary indirectly transferred property to foreign corporations through its investment in domestic partnerships. The amount of indirect transfers of property were below the reporting threshold requiring the filing of Form 926. Part IV, Line 3: The filing requirements of Form 5471 were not met by the Seminary during the fiscal year ended 5/31/12 for its ownership in a foreign corporation. Therefore, Form 5471 was not filed by the Seminary. true Scholarships 1439 3156454 FMV Scholarships Part 1, Line 2: Senior management recommends to the Executive Committee grants to other organizations for approval. Part III: Scholarship assistance is approved and monitored for individuals through campus scholarship committees. X X true true X X false false false false false false false false false Robert C Cannada Jr 97629 0 254 0 48000 0 10117 0 13258 0 169258 0 Michael A Milton 89648 0 250 0 0 0 17982 0 70807 0 178687 0 Andrew J Peterson 120648 0 254 0 0 0 12741 0 17898 0 151541 0 Donald W Sweeting 90089 0 4157 0 883 0 5578 0 61150 0 161857 0 Part I, Line 1a: Travel for companions - The Seminary encourages and reimburses officers of the seminary to take their spouses when the spouse has a legitimate business purpose. The circumstance occurs on an infrequent basis. Housing Allowances - Housing allowances are annually reviewed and approved by the Executive Committee of the seminary and are included in the individual's compensation. M Steve Wallace See Part V X 55000 55000 false true true 55000 John S Redd Jr See Part V 87572 See Part V false Part II, Line (1), Column (a): Purpose of loan: Assistance with relocation of residence for the benefit of the organization Part IV, Line (1), Column (b): Relationship between interested person and the organization: Son of J. Scott Redd, board member Part IV, Line (1), Column (d): Description of transaction: Compensation was paid to a family member of a board member in excess of $10,000. X 12 653453 FMV at time of gift X 1 0 Unknown Value X Used Furniture 2 21137 See Part II 0 false true true Part I, Line 25, Column (d): 50% of listed retail value Part I, Line 32b: The Seminary uses third-party realtors to market and sell donated land. Part I, Line 33: Description for Line 12, Column (c): Gift from an estate of privately held stock with an unknown value Page 6, Part VI, Section B, Line 11b: A meeting is held by the audit/finance committee to allow committee members to discuss the return and ask any questions. After discussion/revisions have occurred, the returns are approved to be filed. The Form 990 is also provided to all board members for review. Page 6, Part VI, Section B, Line 12c: The full board of trustees on an annual basis discloses related party transactions that could give rise to conflicts. Any transactions that are disclosed are reported in the minutes of the board meetings. Page 6, Part VI, Section B, Line 15 a&b: The Executive Committee reviews and approves the total compensation of all officers of the seminary on an annual basis. Total average compensation from annual surveys of US schools that are members of the Association of Theological Schools is used to determine the reasonableness of officer compensation. Page 6, Part VI, Section C, Line 19: Reformed Theological Seminary makes its financial statements available to the public upon request. The seminary does not make its governing documents (articles of incorporation and bylaws) or conflict of interest policy available to the public. Page 7, Part VII, Section A: Officers Michael Milton, Donald Sweeting, and Guy Richardson are ministerial employees exempt from FICA tax. Therefore, Box 5 of their Forms W-2 are blank, and Box 1 has been used in Part VII as reportable compensation as required by the instructions to Form 990. Compensation an employee contributes to their 401(k) plan is not included on Form W-2, Box 1, but is included on Form W-2, Box 5. For the above ministerial employees exempt from FICA tax, employee 401(k) contributions are reported on Form 990, Part VII, Column (f) or Schedule J, Part II, Column (c), if applicable. For those employees not exempt from FICA taxes, employee-paid 401(k) contributions are included in reportable compensation reported on Form 990, Part VII, Column (d) and Schedule J, Part II, Column (b)(i), if applicable. The above individuals exempt from FICA tax also received nontaxable housing allowances which are included on Form 990, Part VII, Column (f) and Schedule J, Part II, Column (d), if applicable, versus being included in Part VII, Column (d) and Schedule J, Part II, Column (B)(iii) for those employees that are not exempt from FICA tax. Page 12, Part XI, Line 5: Net unrealized losses on investments ($2,792,785) Change in beneficial interests in trusts ($123,293) Reformed Theological Seminary of Florida 1231 Reformation Drive Oviedo FL 32765 421647628 Theol. Ed. FL 2 0 NA Reformed Properties LLC 1231 Reformation Drive Oviedo FL 32765 270679756 Rental R/E FL 162782 840813 NA RTS Foundation Inc 5422 Clinton Blvd Jackson MS 39209 640918136 Fundraising MS 501(c)(3) 11a Type I NA true false false true false false false false false false false false false true true true false false false RTS Foundation Inc c 67662 FMV