2013-05-14T12:59:27-05:00 2012-06-30 271728945 O'CONNOR DAVIES LLP 15 ESSEX RD PARAMUS NJ 076521412 990 2011-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 SERENE JONES 2126627100 2013-04-30 1 BRIAN M FLYNN P00739850 2017129800 2011 2016-02-24 21:20:13Z SERENE JONES 3041 BROADWAY NEW YORK NY 10027 28319431 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 30 30 75 54 868355 -55741 4232964 5902315 4742868 4723434 7191898 2608106 6073088 6292991 22240818 19526846 3187254 3109072 0 0 6999180 8816413 0 0 1420573 9237348 8039222 19423782 19964707 2817036 -437861 116102674 111955202 16114263 16091727 99988411 95863475 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 13900503 10863183 PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 300 FULL-TIME AND PART-TIME STUDENTS 13900503 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 0 1 81 0 1 75 1 1 1 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X RICHARD MADONNA 2122801402 3041 BROADWAY NEW YORK NY 10027 DAVID M CALLARD 0.50 X 0 0 0 SHARON M DAVISON 0.50 X 0 0 0 BLAKE T FRANKLIN 0.50 X 0 0 0 CATHERINE M GEORGE 0.50 X 0 0 0 THE HON WILLIAM H HUDNUT III 0.50 X 0 0 0 KEVIN B JENNINGS 0.50 X 0 0 0 ANNE HALE JOHNSON 0.50 X 0 0 0 MICHAEL J JOHNSTON 0.50 X 0 0 0 THE REV DR EMMA JORDAN-SIMPSON 0.50 X X 0 0 0 MICHAEL J KELLY 0.50 X 0 0 0 DR TIMOTHY LIGHT 0.50 X 0 0 0 SR JOAN MAGNETTI 0.50 X 0 0 0 DR JOHN D MAGUIRE 0.50 X X 0 0 0 GINA G MACARTHUR 0.50 X 0 0 0 ROBERT A MILANESE 0.50 X 0 0 0 CALVIN M MEW 0.50 X 0 0 0 CHANG K PARK 0.50 X 0 0 0 HE GENE RAINBOLT 0.50 X 0 0 0 SUSAN K REED 0.50 X 0 0 0 DR W ANN REYNOLDS 0.50 X 0 0 0 JAMES SLIGAR 0.50 X 0 0 0 THE VERY REV PETERO AN SABUNE 0.50 X 0 0 0 DR CATHARINE R STIMPSON 0.50 X 0 0 0 H MITCHELL WATSON JR 0.50 X 0 0 0 DR MARY H WHITE 0.50 X X 0 0 0 MICHELE R CAMERON 0.50 X 0 0 0 MARGARET M CANNELLA 0.50 X 0 0 0 WOLCOTT B DUNHAM JR 0.50 X 0 0 0 MIRIAM MARCUS WARDEN 0.50 X 0 0 0 WILLIAM T REILAND 0.50 X 0 0 0 C DOUGLAS ADES 0.50 X 0 0 0 BARBARA D FIORITO 0.50 X 0 0 0 WILLIAM E HAVEMEYER 0.50 X 0 0 0 HELMAR NIELSEN 0.50 X 0 0 0 CLEOPHUS THOMAS JR 0.50 X 0 0 0 THE REV DR SERENE JONES 40.00 X 267154 0 223261 THE REV FREDERICK DAVIE 40.00 X 65369 0 21792 RICHARD MADONNA 40.00 X 175466 0 35000 JAMES CONE 40.00 X 122355 0 107750 EUAN CAMERON 40.00 X 114589 0 114822 MICHAEL MALONEY 40.00 X 113026 0 26786 857959 0 529411 5 0 1 0 NEWMARK GRUBB KNIGHT FRANK 125 PARK AVE NEW YORK NY 10017 FACILITIES STAFFING 929934 KEY RESTORATION 3611 HENRY HUDSON PKWY RIVERDALE NY 10463 FACILITIES RENOVATION 695208 PROVEN GENERAL CONTRACTING INC 435 RIVERSIDE DRIVE SUITE F NEW YORK NY 10025 GENERAL CONTRACTING 270099 BLACKBAUD INC 2000 DANIEL ISLAND DR CHARLESTON SC 29492 SOFTWARE 217303 COLUMBIA UNIVERSITY LIBRARIES 2960 BROADWAY NEW YORK NY 10027 LIBRARY 189068 15 90872 5811443 3083012 5902315 TUITION AND FEES 611710 4667383 4667383 AUXILIARY ENTERPRISES 532000 56051 56051 4723434 508645 508645 6139749 0 6139749 6139749 5271394 868355 10892046 8792585 2099461 2099461 2099461 OTHER REVENUE 900099 78242 78242 INSURANCE PROCEEDS 900099 75000 75000 153242 19526846 9994828 868355 2761348 3109072 3109072 788042 490415 297627 5791965 3333483 1803802 654680 1350789 902921 297525 150343 885617 591982 195066 98569 67371 67371 133800 133800 422645 328169 94476 663826 104854 311770 247202 9235 6136 3099 742169 410923 241755 89491 810444 744321 65899 224 21206 21206 137807 57325 66860 13622 667918 667918 1592951 1592951 318523 410 318113 FACILITIES AND MAINTENA 1113497 869850 236812 6835 MISCELLANEOUS EXPENSE 573498 373278 203062 -2842 HOSPITALITY 374595 129438 100876 144281 DUES & SUBSCRIPTIONS 341106 161215 174779 5112 48631 10772 27902 9957 19964707 13900503 4643631 1420573 700 700 3984302 2798059 2383736 2077963 131399 61883 186724 128432 53869675 36670634 16869026 17199041 40306564 44789487 49132616 41812071 1507812 1525872 1599795 1561694 116102674 111955202 1853854 1877961 678903 678903 93946 90178 12282476 12104557 1205084 1340128 16114263 16091727 X 48786407 43350064 9486371 7696208 41715633 44817203 99988411 95863475 116102674 111955202 X -437861 -3687075 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 88318192 3455200 -970522 4373858 86429012 77196953 1114603 14456447 4449811 88318192 72017409 669938 9310245 4800639 77196953 88636805 368392 -11994154 4993634 72017409 0.47740 0.50120 0.02140 0 0 1928226 1928226 45659689 32962635 12697054 3821116 3664007 157109 2460644 43992 2416652 17199041 COMMINGLED TRUST FUND 26778220 F HEDGE FUNDS 10290861 F INVESTMENT IN OIL AND GAS PARTNERSHIPS 4742990 C 41812071 POSTRETIREMENT BENEFITS LIABILITIES 626284 GIFT ANNUITY PAYABLE 713844 1340128 19526846 19964707 -437861 -3537986 -149089 -3687075 -4124936 12730699 -3537986 -149089 -3687075 16417774 3109072 3109072 19526846 16855635 0 16855635 3109072 3109072 19964707 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: 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 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -37,301. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -111,788. TOTAL TO SCHEDULE D, PART XI, LINE 8: -149,089. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -37,301. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -111,788. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID APPLICABLE TO TUITION AND FEES 3,109,072. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID APPLICABLE TO TUITION AND FEES 3,109,072. 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 223 3109072 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 ANNUALY 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 X 0 0 0 0 0 0 0 0 0 THE REV DR SERENE JONES 217154 0 50000 0 0 0 28230 0 195031 0 490415 0 0 0 RICHARD MADONNA 175466 0 0 0 0 0 21056 0 13944 0 210466 0 0 0 JAMES CONE 122355 0 0 0 0 0 15906 0 91844 0 230105 0 0 0 EUAN CAMERON 114589 0 0 0 0 0 14897 0 99925 0 229411 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 3083012 FMV OF SECURITIES 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 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. 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 5: NET UNREALIZED LOSSES ON INVESTMENTS: -3,537,986. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -37,301. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -111,788. TOTAL TO FORM 990, PART XI, LINE 5: -3,687,075. 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.