2024-10-16T14:19:53-05:00 2024-06-30 561220683 POTTER & COMPANY PA 434 COPPERFIELD BLVD NE STE A CONCORD NC 28025 990 2023-07-01 562231069 HOOD THEOLOGICAL SEMINARY HOOD 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR VERGEL LATTIMORE PRESIDENT 7046366454 2024-10-16 1 1 KENNI E DOYLE CPA P01353112 7047868189 2023 2024-10-15 13:58:12Z DR VERGEL LATTIMORE 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 6218333 0 X WWW.HOODSEMINARY.EDU X EDUCATIONAL INSTITUTION 2001 NC EDUCATIONAL INSTITUTION 19 19 65 0 0 0 1683949 1566880 1522777 1314608 283771 691454 13271 71898 3503768 3644840 75395 77925 0 0 1741649 1723745 0 0 411327 1752790 1589597 3569834 3391267 -66066 253573 18758622 19965060 1841183 1943446 16917439 18021614 EDUCATIONAL INSTITUTION 0 0 1463726 77925 1338071 THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION AND PROVIDES INSTRUCTION, SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE 1463726 1 1 0 0 0 0 0 0 0 1 1 0 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 0 0 0 0 0 0 0 0 0 1 48 0 65 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR CURTIS T WALKER SR TRUSTEE EMERITUS 2.00 X 0 0 0 BISHOP GEORGE E BATTLE JR TRUSTEE EMERITUS 2.00 X 0 0 0 BISHOP GEORGE W C WALKER SR TRUSTEE EMERITUS 2.00 X 0 0 0 JANET WARD BLACK TRUSTEE EMERITUS 2.00 X 0 0 0 BISHOP JOSEPH JOHNSON TRUSTEE EMERITUS 2.00 X 0 0 0 REV DR DOUGLAS L MAVEN TRUSTEE 2.00 X X 0 0 0 DR CHARLIE DAVIDSON TRUSTEE 2.00 X 0 0 0 JUDGE ADELE M RILEY TRUSTEE 2.00 X 0 0 0 REV DR SHELDON SHIPMAN SECRETARY 5.00 X X 0 0 0 DR BRENDA LG SMITH TRUSTEE 2.00 X 0 0 0 DR SANDRA L GADSON TRUSTEE 2.00 X 0 0 0 BISHOP MICHAEL A FRENCHER SR VICE CHAIRMAN 2.00 X X 0 0 0 BISHOP KENNETH MONROE TRUSTEE 5.00 X 0 0 0 REV DR RANDELL A CAIN JR TRUSTEE 2.00 X 0 0 0 REV DR NILOUS M AVERY II TRUSTEE 2.00 X 0 0 0 BISHOP GEORGE D CRENSHAW TRUSTEE 2.00 X 0 0 0 REV DR MICHAEL E ELLIS TRUSTEE EMERITUS/ASST. SEC 2.00 X X 0 0 0 BISHOP DARRYL B STARNES CHAIRMAN 5.00 X X 0 0 0 DR VERGEL L LATTIMORE SEMINARY PRESIDENT 60.00 X 192809 0 8150 DEAN CAROLINE L LATTIMORE TRUSTEE 2.00 X 0 0 0 REV PATRICK BARRETT TRUSTEE 2.00 X 0 0 0 REV DR FREDERICK BOWMAN TRUSTEE 2.00 X 0 0 0 BISHOP ERIC LEAKE TRUSTEE 2.00 X 0 0 0 REV DR TIMOTHY FREEMAN HTSNAA PRESIDENT 2.00 X 0 0 0 BISHOP BRIAN R THOMPSON SR TRUSTEE 2.00 X 0 0 0 DR RICHARD MARTIN TRUSTEE EMERITUS 0.00 X 0 0 0 DR GREGORY ALCORN TRUSTEE 2.00 X 0 0 0 REV DR SIDNEY E DAVIS SR TRUSTEE 2.00 X 0 0 0 192809 0 8150 2 0 1 0 0 29006 1537874 21750 1566880 TUITION 611310 1314608 1314608 1314608 429794 429794 81596 33161 48435 48435 48435 2801992 2528973 11359 273019 -11359 261660 261660 ALUMNI DUES/REVENUE 611310 22963 22963 MISCELLANEOUS 611310 500 500 23463 3644840 1338071 0 739889 77925 77925 1318887 495863 580675 242349 45126 10186 25522 9418 274104 57080 189490 27534 85628 34713 35569 15346 21250 21250 49200 49200 76670 76670 133404 40764 87669 4971 3589 3 3586 129812 53222 70099 6491 106710 31662 71187 3861 59900 600 8058 51242 3190 3190 408 408 159368 65341 86059 7968 44704 18329 24140 2235 GRANT EXPENSES 548838 548838 SUPPLIES & MINOR EQUIPM 57351 13124 42630 1597 DUES & SUBCRIPTIONS 54901 54901 MISCELLANEOUS 48931 8511 40419 1 91371 7565 45492 38314 3391267 1463726 1516214 411327 3604681 3218810 10000 108602 142497 59281 70128 6364209 2612672 3469571 3751537 11420540 12668062 85947 114026 18758622 19965060 73659 80471 1678807 127502 8194 80523 1735473 1841183 1943446 X 5060948 5186482 11856491 12835132 16917439 18021614 18758622 19965060 253573 850602 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9324499 185633 861498 10371630 8785179 75583 463737 9324499 9230258 413541 -858620 8785179 7778466 217447 1234344 9230258 7208066 471870 161873 63343 7778466 1.00000 0 0 29799 29799 103101 33742 69359 4981684 1528165 3453519 1249625 1050765 198860 3751537 DAMAGE AND KEY DEPOSITS 8927 REFUNDABLE ADVANCES 1636796 OPERATING LEASE LIABILITY 89750 1735473 X 4374008 850602 33161 883763 3490245 154595 154595 3644840 3269833 33161 33161 3236672 154595 154595 3391267 PART V, LINE 4: PART VI, LINE 4 INTENDED USE OF ENDOWMENT FUNDS: SCHOLARSHIPS AND FINANCIAL SUPPORT OF THE SEMINARY PART X, LINE 2: THE ORGANIZATION HAS ADOPTED ASC 740-10 AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE TAX YEARS AND HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. HOWEVER, THE ORGANIZATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ORGANIZATION BEEN CONTACTED BY THE INTERNAL REVENUE SERVICE. BASED ON AN EVALUATION OF THE ORGANIZATION'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEARS ENDED JUNE 30, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS INVESTMENT FEES PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS INVESTMENT FEES 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THROUGH PRINT AND ELECTRONIC MEDIA SCHEDULE E, PART I, LINE 6 HOOD THEOLOGICAL SEMINARY STUDENTS RECEIVE FINANCIAL ASSISTANCE THROUGH THE U.S. DEPARTMENT OF EDUCATION FEDERAL DIRECT STUDENT LOAN PROGRAM. FUNDS RECEIVED ARE USED TO PAY TUITION AND FEES. FEDERAL WORK STUDY AWARDS ASSIST STUDENTS THROUGH PARTIAL PAYMENT OF ON-CAMPUS JOBS TO ASSIST IN MEETING STUDENT FINANCIAL NEED. 1 SCHOLARSHIPS AND FINANCIAL AID 78 77925 CASH VALUE PART I, LINE 2: FINANCIAL ASSISTANCE IS AWARDED TO STUDENTS ON THE BASIS OF NEED AND/OR MERIT AS DETERMINED BY SEMINARY ADMISSIONS AND FINANCIAL AID PERSONNEL X 1 0 X X 0 0 0 0 0 0 0 0 0 DR VERGEL L LATTIMORE SEMINARY PRESIDENT 176509 0 0 0 16300 0 8150 0 0 0 200959 0 0 0 PART I, LINE 1A DR. LATTIMORE IS AN ORDAINED MINISTER. HOUSING ALLOWANCE PROVIDED AS NON-TAXABLE COMPENSATION. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 RETURN WAS PRESENTED TO THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. THE FINANCE COMMITTEE PRESENTED THE APPROVED DRAFT FOR FINAL APPROVAL BY THE FULL BOARD OF TRUSTEES AT THEIR REGULARLY SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C BOARD TRUSTEES ARE ASKED TO VERBALLY DISCLOSE ANY REAL OR POTENTIAL CONFLICTS OF INTEREST WITH THE SEMINARY AT EACH MEETING OF THE BOARD OF TRUSTEES. ANY ISSUES THAT MAY BE RAISED REGARDING CONFLICTS OF INTEREST ARE DISCUSSED AND RESOLVED AT THE BOARD OF TRUSTEES' LEVEL. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE SEMINARY'S PRESIDENT IS APPROVED ANUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER COMPENSATIONS ARE DISCUSSED AND DECIDED BY THE PRESIDENT AND THE CHIEF FINANCIAL OFFICER AND HUMAN RESOURCES DIRECTOR, IN LIGHT OF EACH EMPLOYEE'S ANNUAL WRITTEN EVALUATION, AND ARE TREATED CONFIDENTIALLY. FORM 990, PART VI, SECTION C, LINE 19 THE SEMINARY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE SEMINARY OFFICES UPON REQUEST. SEMINARY STAFF ARE AVAILABLE TO PROVIDE SUPERVISION AND ANSWER ANY QUESTIONS THE INQUIRING PARTY MAY HAVE. FORM 990 PART XI LINE 2C EXPLANATION: ORGANIZATION OVERSIGHT OF AUDIT: THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE AUDIT PREPARED BY THE INDEPENDENT AUDITORS AND HOLDS A MEETING WITH THE AUDITORS PRIOR TO THE FINAL RELEASE OF THE AUDIT. THE FINDINGS OF THE FINANCE COMMITTEE ARE THEN PRESENTED TO THE FULL BOARD OF TRUSTEES IN THE PRESENCE OF THE INDEPENDENT AUDITORS. THE AUDITORS ARE AVAILABLE TO ANSWER QUESTIONS AND CLARIFY POINTS IN THE AUDIT AS NEEDED.