2023-10-23T10:07:13-05:00 2023-06-30 561220683 POTTER & COMPANY PA 434 COPPERFIELD BLVD NE STE A CONCORD NC 28025 990 2022-07-01 562231069 HOOD THEOLOGICAL SEMINARY HOOD 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR VERGEL LATTIMORE PRESIDENT 7046366454 2023-10-18 1 DR VERGEL LATTIMORE 999009999 0 KENNI E DOYLE CPA P01353112 7047868189 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR VERGEL LATTIMORE 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 7163924 0 X WWW.HOODSEMINARY.EDU X EDUCATIONAL INSTITUTION 2001 NC EDUCATIONAL INSTITUTION 19 19 62 0 0 0 2061706 1683949 1510833 1522777 586610 283771 26161 13271 4185310 3503768 127666 75395 0 0 1806524 1741649 0 0 416071 1644876 1752790 3579066 3569834 606244 -66066 17605409 18758622 1209938 1841183 16395471 16917439 EDUCATIONAL INSTITUTION 0 0 1705817 75395 1554771 THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION AND PROVIDES INSTRUCTION, SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE 1705817 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 25 0 62 1 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 SARA COOK TRUSTEE 2.00 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 182421 0 17683 DEAN CAROLINE L LATTIMORE TRUSTEE 2.00 X 0 0 0 REV PATRICK BARRETT II 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 DAVID A MCLEAN 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 182421 0 17683 2 0 1 0 0 96269 1587680 18903 1683949 TUITION 611310 1500872 1500872 21905 21905 1522777 358327 358327 9532 28255 -18723 -18723 -18723 3557345 3631901 -74556 -74556 -74556 ALUMNI DUES/REVENUE 611310 27001 27001 MISCELLANEOUS 611310 4993 4993 31994 3503768 1554771 0 265048 75395 75395 1312977 506193 557195 249589 46985 14006 23946 9033 296204 61818 207164 27222 85483 35508 34554 15421 14875 14875 51700 51700 70246 70246 110077 32762 73320 3995 3401 330 3066 5 95836 39292 51752 4792 108640 31491 73308 3841 68988 2300 8975 57713 1612 1612 152870 62676 82550 7644 39678 16268 21426 1984 GRANT EXPENSES 798933 798933 DUES & SUBCRIPTIONS 50426 50426 MISCELLANEOUS 48984 10387 38550 47 SUPPLIES & MINOR EQUIPM 43958 9792 32972 1194 92566 8666 50309 33591 3569834 1705817 1447946 416071 3093886 3604681 55000 10000 117954 108602 39567 59281 5950010 2480439 3503216 3469571 10779360 11420540 16426 85947 17605409 18758622 28617 73659 1147448 1678807 23786 8194 10087 80523 1209938 1841183 X 5251311 5060948 11144160 11856491 16395471 16917439 17605409 18758622 -66066 588034 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8785179 75583 463737 9324499 9230258 413541 -858620 8785179 7778466 217447 1234344 9230258 7208066 471870 161873 63343 7778466 6869691 189615 261600 112840 7208066 0 0 29799 29799 103101 29993 73108 4709847 1413597 3296250 1055263 1036849 18414 52000 52000 3469571 DAMAGE AND KEY DEPOSITS 8627 REFUNDABLE ADVANCES 1460 OPERATING LEASE LIABILITY 70436 80523 X 3974416 588034 28255 616289 3358127 145641 145641 3503768 3452448 28255 28255 3424193 145641 145641 3569834 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, 2023 AND 2022. 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 68 75395 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 182421 0 0 0 0 0 7481 0 0 0 189902 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.