2025-05-15T20:33:33-05:00 2024-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2023-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 REV DR SERENE JONES PRESIDENT 2126627100 2025-05-15 1 1 GARRETT M HIGGINS P00543209 2017129800 2025-05-15 2023 2025-03-06 01:10:19Z REV DR SERENE JONES 3041 BROADWAY NEW YORK NY 10027 74443843 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 25 24 271 28 0 0 12979455 20292730 13201436 9766940 12047281 9011463 8374162 32372 46602334 39103505 3897209 4044097 0 0 12253481 11341596 0 0 1056392 22759405 19224167 38910095 34609860 7692239 4493645 217803574 223719296 34731084 31427626 183072490 192291670 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 26263716 4044097 9766940 PROVIDE GRADUATE DEGREE AND NON-DEGREE PROGRAMS TO MORE THAN 265 FULL-TIME AND PART-TIME STUDENTS 26263716 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 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 1 121 0 271 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X RHONDA GITTENS 2126627100 3041 BROADWAY NEW YORK NY 10027 THE REV DR SERENE JONES PRESIDENT 40.00 X X 370456 0 114142 CLIFFORD HUDSON CHAIR 2.00 X X 0 0 0 RHONDA MCLEAN ESQ VICE-CHAIR 2.00 X X 0 0 0 JAMES BLUE III TRUSTEE 2.00 X 0 0 0 GEOFFREY BROWN TRUSTEE 2.00 X 0 0 0 WOLCOTT B DUNHAM JR TRUSTEE 2.00 X 0 0 0 BLAKE FRANKLIN ESQ TRUSTEE THRU FEB 2024 2.00 X 0 0 0 REV AMY GOPP TRUSTEE THRU MAY 2024 2.00 X 0 0 0 REV DR MARK HOSTETTER TRUSTEE 2.00 X 0 0 0 VIRGINIA JOHNSTON TRUSTEE 2.00 X 0 0 0 DAVID KLASSEN TRUSTEE THRU MAY 2024 2.00 X 0 0 0 CAROLINE LAGUERRE-BROWN TRUSTEE 2.00 X 0 0 0 DR TIMOTHY LIGHT TRUSTEE 2.00 X 0 0 0 SISTER JOAN MAGNETTI TRUSTEE THRU MAY 2024 2.00 X 0 0 0 DAVID M MCALPIN TRUSTEE 2.00 X 0 0 0 CALVIN MEW TRUSTEE 2.00 X 0 0 0 REV ROBIN R MEYERS PHD TRUSTEE 2.00 X 0 0 0 CRAIG J MILLER TRUSTEE 2.00 X 0 0 0 REV EDWARD D PARDOE III TRUSTEE 2.00 X 0 0 0 CHANG PARK TRUSTEE 2.00 X 0 0 0 REV SUSAN SGARLAT TRUSTEE 2.00 X 0 0 0 REV MADISON SHOCKLEY TRUSTEE 2.00 X 0 0 0 REV STAN J SLOAN TRUSTEE 2.00 X 0 0 0 REV NANCY STEEGER JENNINGS TRUSTEE 2.00 X 0 0 0 REV WINNIE VARGHESE TRUSTEE 2.00 X 0 0 0 MARIAN MARCUS WARDEN TRUSTEE 2.00 X 0 0 0 REV DR RAPHAEL G WARNOCK TRUSTEE 2.00 X 0 0 0 RUTH WOODEN TRUSTEE 2.00 X 0 0 0 JASON G WRIGHT TRUSTEE 2.00 X 0 0 0 RITA L WALTERS VP FOR DEVELOPMENT 40.00 X 124242 0 31386 NINA WONG TREASURER 40.00 X 199633 0 24551 JODY WEST SECRETARY/VP FOR ADMINISTRATION 40.00 X 116125 0 27462 CORNEL WEST CHAIR IN PHILOSOPHY AND CHRISTIAN PRACTICE 40.00 X 167447 0 83540 AFSHEEN SHAMSI VP OF COMMUNICATIONS & MARKETING 40.00 X 173162 0 45430 WILLIAM PEABODY CHIEF OPERATING OFFICER 40.00 X 237219 0 82587 SU YON PAK VP OF ACADEMIC AFFAIRS & DEAN 40.00 X 172832 0 84013 VANESSA HUTCHINSON VP OF ADMISSSIONS & FIN. AID 40.00 X 126616 0 29369 DAVID GASTWIRTH VP FOR ONLINE ED & LEARNING INNOVATION 40.00 X 131627 0 28233 MARY BOYS SKINNER MCALPIN PROFESSOR OF PRACTICAL THEOLOGY 40.00 X 121410 0 32147 JORGE BUSONE RODRIGUEZ VISITING ASSIST. PROF. OF HISTORICAL STUDIES 40.00 X 117770 0 9933 GARY DORRIEN PROFESSOR OF SOCIAL ETHICS 40.00 X 111235 0 27926 2169774 0 620719 17 0 1 0 REPAIRERS OF THE BREACH INC PO BOX 1638 GOLDSBORO NC 27533 CONSULTING SERVICES 1116722 ADVANCED TECHNOLOGIES GROUP 20 CEDAR STREET NEW ROCHELLE NY 10801 IT 368158 PATTERSON BELKNAP WEBB & TYLER LLP 1133 AVENUE OF AMERICAS NEW YORK NY 10036 LEGAL SERVICES 360463 IN VISIONS NP CORP 2 PARK PLACE 44A NEW YORK NY 10007 STRATEGIC PLANNING 334100 BEYER BLINDER BELLE ARCHITECT AND PLANN 120 BROADWAY NEW YORK NY 10271 ARCHITECT & PLANNING 155414 11 47082 20245648 203624 20292730 ROOM AND BOARD 532000 5268552 5268552 TUITION AND FEES 611710 4341445 4341445 AUXILIARY INCOME 532000 102606 102606 EVENT REGISTRATION FEES 611710 53825 53825 STUDENT LOAN INTEREST 611710 512 512 9766940 3471745 3471745 38487953 2392103 35340338 0 3147615 2392103 5539718 5539718 14018 0 14018 14018 OTHER INCOME 900099 18354 18354 18354 39103505 9766940 0 9043835 X 4044097 4044097 1776150 472389 1267904 35857 7086640 5884009 817770 384861 879775 731585 102316 45874 964679 743858 176812 44009 634352 463998 140103 30251 127217 28730 98487 268724 268724 621940 621940 4680435 2762496 1594928 323011 238711 80126 158335 250 1167443 1117542 16346 33555 251892 117006 134886 4179941 3505114 621824 53003 500293 412834 81414 6045 339334 314813 23676 845 671185 567986 96075 7124 4037486 3416697 577937 42852 520626 380814 114985 24827 FACILITIES AND MAINT. 840472 743379 96811 282 OTHER EXPENSES 330672 116027 203017 11628 HOSPITALITY & TRAVEL 230453 142873 75462 12118 LIBRARY COST 217343 217343 34609860 26263716 7289752 1056392 718903 1603033 10087164 10771520 396059 1751276 6661118 100099 696221 280474 127365925 47973743 80403242 79392182 71584360 84360555 44534639 44514646 818715 743510 1903153 202001 217803574 223719296 2634366 2669024 103304 103304 377782 267341 25000000 25000000 6615632 3387957 34731084 31427626 X 104169019 99936898 78903471 92354772 183072490 192291670 217803574 223719296 X 4493645 4291893 433642 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 100717700 4200285 9423684 5781725 1289046 107270898 96979883 12425663 5997158 2690688 100717700 126603303 1182424 -24831626 5974218 96979883 104971827 100000 28810256 5856308 1422472 126603303 109723709 207936 1461683 5811501 610000 104971827 0.34867 0.54813 0.10319 0 0 1346074 1346074 117286068 42995735 74290333 4532352 4389262 143090 4201431 588746 3612685 79392182 ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 2656863 F BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 210548 F ALTERNATIVE INVESTMENTS 26825530 F COMMINGLED TRUST FUND 14821705 F 44514646 POSTRETIREMENT BENEFITS LIABILITIES 1867466 GIFT ANNUITY PAYABLE 1086755 REFUNDABLE ADVANCES - US GOVERNMENT GRANTS 433736 3387957 X 40551578 4291893 433642 4725535 35826043 621940 2655522 3277462 39103505 31332398 0 31332398 621940 2655522 3277462 34609860 PART IV, LINE 2B: THE SEMINARY HOLDS SECURITY DEPOSITS FOR STUDENTS LIVING IN HOUSING RESIDENCES. WHEN THEY VACATE, IT WILL BE RETURNED TO THE STUDENTS. PART V, LINE 4: TO PROVIDE LONG TERM SUPPORT FOR THE ORGANIZATION'S PROGRAM SERVICES. 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 NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE YEARS PRIOR TO JULY 1, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 218,001. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 215,641. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 2,655,522. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 2,655,522. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT, IN ALL HANDBOOKS AND LITERATURE DISTRIBUTED, ON ITS WEBSITE AND ON ALL GENERAL NEWSPAPER ADVERTISEMENT. THE ADMISSIONS BROCHURE DISCLOSES THAT IT SERVES STUDENTS OF SIGNIFICANT FINANCIAL NEED AND DIVERSE CULTURES. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL FUNDING FROM VARIOUS GOVERNMENT ENTITIES TO PROVIDE FINANCIAL AID GRANTS. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 8011456 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 10639929 0 0 0 0 0 0 18651385 0 18651385 1 0 1 0 0 0 SCHEDULE F, PART IV, LINE 3: THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 5471 BECAUSE IT DOES NOT MEET THE APPLICABLE OWNERSHIP THRESHOLD OR OTHER FILING REQUIREMENTS. 1 GRANTS, SCHOLARSHIPS AND FELLOWSHIPS FOR TUITION 178 4044097 PART I, LINE 2: UTS MONITORS THE USE OF THE GRANTS TO NEW YORK THEOLOGICAL SEMINARY BY HAVING REGULAR MEETINGS TO REVIEW THEIR FINANCIALS, TO ENSURE THAT THE FUNDS ARE BEING USED FOR THE INTENDED PURPOSE. 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 DIRECTLY TO EACH STUDENT'S BILL FOR TUITION, FEES, ROOM, BOARD AND OTHER CHARGES. X 1 1 X X X 0 0 0 0 0 0 0 0 0 THE REV DR SERENE JONES PRESIDENT 347956 0 0 0 22500 0 44952 0 69190 0 484598 0 0 0 WILLIAM PEABODY CHIEF OPERATING OFFICER 237219 0 0 0 0 0 29040 0 53547 0 319806 0 0 0 SU YON PAK VP OF ACADEMIC AFFAIRS & DEAN 172832 0 0 0 0 0 20828 0 63185 0 256845 0 0 0 CORNEL WEST CHAIR IN PHILOSOPHY AND CHRISTIAN PRACTICE 167447 0 0 0 0 0 10144 0 73396 0 250987 0 0 0 NINA WONG TREASURER 199633 0 0 0 0 0 24200 0 351 0 224184 0 0 0 AFSHEEN SHAMSI VP OF COMMUNICATIONS & MARKETING 173162 0 0 0 0 0 22678 0 22752 0 218592 0 0 0 DAVID GASTWIRTH VP FOR ONLINE ED & LEARNING INNOVATION 131627 0 0 0 0 0 15818 0 12415 0 159860 0 0 0 VANESSA HUTCHINSON VP OF ADMISSSIONS & FIN. AID 126616 0 0 0 0 0 16209 0 13160 0 155985 0 0 0 RITA L WALTERS VP FOR DEVELOPMENT 124242 0 0 0 0 0 17590 0 13796 0 155628 0 0 0 MARY BOYS SKINNER MCALPIN PROFESSOR OF PRACTICAL THEOLOGY 121410 0 0 0 0 0 18976 0 13171 0 153557 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. THE FOLLOWING PERSONS RECEIVED HOUSING BENEFITS REPORTED IN SCH. J, PART II, COL. D: REV. DR. SERENE JONES - $55,200 WILLIAM PEABODY - $40,800 SU YON PAK - $40,800 CORNEL WEST - $40,800 X 22 203624 AVG. SELLING PRICE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN SCHEDULE M, PART I, COLUMN B. FORM 990, PART VI, SECTION B, LINE 11B 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, IT IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. THE GOVERNING BODY HAS DELEGATED ITS OVERSIGHT ROLE TO THE AUDIT COMMITTEE. ANY COMMENTS MADE BY THE AUDIT COMMITTEE ARE PRESENTED TO MANAGEMENT. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. A COPY OF THE FINAL APPROVED VERSION IS ELECTRONICALLY SENT TO THE ENTIRE BOARD AFTER 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, OFFICERS, AND EMPLOYEES ANNUALLY REVIEW AND SIGN THE CONFLICT OF INTEREST DISCLOSURE FORM. THE COI POLICY ALSO REQUIRES THAT AFTER DISCLOSURE, ANY SUCH CONFLICT OF INTEREST MUST BE APPROVED BY THE EMPLOYEE'S DIRECT SUPERVISOR, AND ABSENT THIS APPROVAL, THE CONFLICT MUST BE RESOLVED. AFTER A CONFLICT IS REPORTED TO AN EMPLOYEE'S SUPERVISOR AND ACTED UPON, IT MUST BE REPORTED TO THE VICE PRESIDENT FOR FINANCE AND OPERATIONS. 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 LINE 15A: COMPENSATION FOR THE PRESIDENT AT UNION THEOLOGICAL SEMINARY ARE DETERMINED BY UNION'S PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES, AFTER REVIEWING GUIDELINES AND COMPARABLE DATA IN THE UTS HUMAN RESOURCES OFFICE. COMPARABLE DATA INCLUDES DATA FROM THE ASSOCIATION OF THEOLOGICAL SCHOOLS AND SURVEY OF NEIGHBORING SCHOOLS. THE DETERMINATIONS AND RESULTS OF THE COMPENSATION PROCESS ARE RECORDED ON THE MINUTES OF THE BOARD MEETINGS. THIS PROCESS WAS LAST UNDERTAKEN IN FY24. LINE 15B: COMPENSATION FOR KEY ADMINISTRATORS AT UNION THEOLOGICAL SEMINARY ARE DETERMINED BY UNION'S PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES, AFTER REVIEWING GUIDELINES AND COMPARABLE DATA IN THE UTS HUMAN RESOURCES OFFICE. COMPARABLE DATA INCLUDES DATA FROM THE ASSOCIATION OF THEOLOGICAL SCHOOLS AND SURVEY OF NEIGHBORING SCHOOLS. THE DETERMINATIONS AND RESULTS OF THE COMPENSATION PROCESS ARE RECORDED ON THE MINUTES OF THE BOARD MEETINGS. THIS PROCESS WAS LAST UNDERTAKEN IN FY24. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990 AND THE AUDITED FINANCIAL STATEMENT IS MADE AVAILABLE FOR THE PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IT IS POSTED ON NEW YORK STATE ATTORNEY GENERAL WEBSITE, GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G OTHER CONSULTANT/SERVICE FEES: PROGRAM SERVICE EXPENSES 2,762,496. MANAGEMENT AND GENERAL EXPENSES 1,594,928. FUNDRAISING EXPENSES 323,011. TOTAL EXPENSES 4,680,435. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 215,641. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 218,001. FORM 990, PART XII, 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.