2025-05-13T07:59:22-05:00 2024-06-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2023-07-01 042463847 Gordon-Conwell Theological Seminary Inc GORD 9784687111 130 Essex Street South Hamilton MA 019822325 Gregg Hansen CFO 9784687111 2025-05-12 1 1 Melissa Magoon CPA P01712842 2077752387 2025-05-12 2023 2025-03-06 01:10:19Z Scott W Sunquist 130 Essex Street South Hamilton MA 019822325 43558669 0 X http://www.gordonconwell.edu X 1970 MA The Seminary provides graduate education in theology and religion. 24 23 450 100 0 0 7978040 8269245 18162720 18194188 2601935 3056609 106704 79084 28849399 29599126 6844328 7052241 0 0 13400508 13915842 13000 5500 1139478 10305576 10468418 30563412 31442001 -1714013 -1842875 107442714 110295525 13308808 13694955 94133906 96600570 X Gordon-Conwell Theological Seminary is an educational institution serving the Lord and His Church. Its mission is to prepare men and women for ministry at home and abroad. The Seminary undertakes this task as a training partner with the Church so that what is learned on campus can be complemented by the spiritual nurture and exercise of ministry available through the Church. Gordon-Conwell's mission arises out of God's redemptive work in this world effected in Jesus Christ, understood through the biblical Word and mediated by the Holy Spirit. As a theological seminary, it provides learning, resources and training through which men and women may acquire knowledge, gain skills, and develop attitudes needed in Christ's ministry. 0 0 20457073 7052241 15552203 Provided graduate theological education that served over 1,801 students in FY24. The Seminary has four campuses: Hamilton, MA; Boston, MA; Charlotte, NC; and Jacksonville, FL. It offers 8 degree programs. 3855441 2363559 Provided auxiliary services in connection with the above, including housing, food services, bookstores, and printing/copying. 1000287 278426 Provided continuing education in theological studies for pastors, laity, and others. 25312801 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 1 0 1 0 1 1 0 0 0 1 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 98 0 1 450 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA NH WI X Gregg Hansen CFO 9784687111 130 Essex Street South Hamilton MA 01982 Scott W Sunquist President 50.00 X X 144432 0 115203 Patti W Avery Secretary 1.00 X X 0 0 0 Diana Curren Bennett Vice-Chairman 1.00 X X 0 0 0 Gerald L Hector Treasurer 1.00 X X 0 0 0 Christy Wilson III Interim Chairman 1.00 X X 0 0 0 Garth T Bolinder Trustee 1.00 X 0 0 0 R Bruce Bradley Trustee 1.00 X 0 0 0 Michele Breene Trustee 1.00 X 0 0 0 Aliya F Browne Trustee 1.00 X 0 0 0 Soon Chung Trustee 1.00 X 0 0 0 Thomas Colatosi Trustee 1.00 X 0 0 0 Barry Corey Trustee 1.00 X 0 0 0 Robert C Doll Trustee 1.00 X 0 0 0 Stan D Gaede Trustee 1.00 X 0 0 0 Peter G James Trustee 1.00 X 0 0 0 Priscilla H Lee Trustee 1.00 X 0 0 0 Garry A McDowall Trustee 1.00 X 0 0 0 Chi Kong Shue Trustee 1.00 X 0 0 0 Daniel Vogelzang Trustee 1.00 X 0 0 0 David Wright Trustee 1.00 X 0 0 0 Leonard Moon Trustee 1.00 X 0 0 0 Shirley A Redd Trustee 1.00 X 0 0 0 Caleb Loring Trustee 1.00 X 0 0 0 Ivan Hinrich Trustee 1.00 X 0 0 0 Gregg C Hansen Chief Financial Officer 50.00 X 124824 0 27589 Kenneth J Barnes Professor/Pivot Chairman 50.00 X 155311 0 18893 Alex Koh VP of Strategy and CIO 50.00 X 147633 0 28529 Jeffrey D Arthurs Professor 50.00 X 138992 0 8020 Mateus Ferraz De Campos Dean of Hamilton Campus 50.00 X 138189 0 27159 Adonis Vidu Professor 50.00 X 136329 0 26209 985710 0 251602 16 0 1 0 Magna 5 1000 Cliff Mine Rd Ste 250 Pittsburgh PA 15275 Technology Services 625912 Sodexo Inc and Affiliates PO Box 360170 Pittsburgh PA 152516170 Food Services 393981 ServiceMaster of Middlesex City PO Box 414 Andover MA 01845 Repair & Maintenance 193761 Fire Equipment Inc PO Box 423 Reading MA 01867 Repair & Maintenance 181596 Olympic Marketing Group 462 Boston Street Topsfield MA 01983 Repair & Maintenance 180615 22 8269245 1505464 8269245 Student Tuition & Fees 900099 15482439 15482439 Auxiliary Enterprises 900099 2363008 2363008 Contracts & Subscriptions 900099 210094 210094 Government Fees 900099 107782 107782 Other Revenue 900099 30865 30865 18194188 1900194 1900194 79084 0 79084 79084 79084 15115958 13959543 1156415 1156415 1156415 29599126 18194188 0 3135693 X 65654 65654 6872374 6872374 114213 114213 425290 425290 11214837 8816866 1656615 741356 399591 314150 59026 26415 1195280 975041 140641 79598 680844 520067 112885 47892 128927 9793 119134 52975 52975 5500 5500 91655 91655 3221992 2507130 666873 47989 131270 9117 122153 809862 647189 131059 31614 859976 61739 733498 64739 1700559 1617129 79234 4196 539476 401331 105639 32506 189311 145105 42616 1590 807564 805993 1571 1374608 867379 507229 53584 53584 Purchases for Resale 87308 83842 3466 419351 387034 29818 2499 31442001 25312801 4989722 1139478 X 1188697 1636387 4885403 4570882 1466994 1284486 2041809 1870938 250000 250000 1726274 1586418 213621 222921 591490 637399 66417538 35069938 32156172 31347600 59225200 63791588 3697054 3096906 107442714 110295525 1736435 1655769 1367132 1036119 2139422 1683999 7747277 9141272 318542 177796 13308808 13694955 X 15324833 13863284 78809073 82737286 94133906 96600570 107442714 110295525 -1842875 3681536 628003 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 66972023 4284328 6003235 1670800 1791096 89502 73708188 63082168 2793364 4500254 1644990 1675959 82814 66972023 71617440 529324 -5311485 1636610 2028207 88294 63082168 60182524 344177 13698738 1158727 1370793 78479 71617440 61224684 403023 1113054 1145021 1343978 69238 60182524 0.03000 0.85000 0.12000 0 0 2275412 2275412 54312492 26400779 27911713 9829634 8669159 1160475 31347600 Advances from Government for Federal Student Loans 177796 177796 26830424 3681536 480511 4162047 22668377 91655 6839094 6930749 29599126 24363760 0 24363760 91655 6986586 7078241 31442001 Part V, Line 4: The intended uses of the Organization's endowment funds are to provide a reliable recurring revenue stream for academic programs, financial aid, general operations and maintenance, and other programs within donor restrictions. Part XI, Line 2d - Other Adjustments: Change in Value of Trusts and Annuities Payable 480,511. Part XI, Line 4b - Other Adjustments: Student Aid 6,986,586. Change in Present Value Discount of Pledges -147,492. Part XII, Line 4b - Other Adjustments: Student Aid 6,986,586. Part IV, line 2b: Annuity value related to the charitable remainder trusts and other gift annuities and valued based on the actuarial expected lives of beneficiaries ranges between seven and eight percent as the interest rate basis to determine present value. Part V, line 4: The intended uses of the Organization's endowment funds are to provide a reliable recurring revenue stream for academic programs, financial aid, general operations and maintenance, and other programs with donor restrictions. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Gordon-Conwell publishes its racially nondiscriminatory policy on its website's persona pages for prospective students and current students. Schedule E, Part I, Line 6 The Seminary participates in the US Department of Education's Direct Loan, FWS and Perkins programs. 0 Central America & Caribbean Program Services Educational Instruction 32457 Europe Program Services Educational Instruction 57807 South America Program Services Educational Instruction 26409 North America Program Services Educational Instruction 34644 Africa Program Services Educational Instruction 889936 Asia Program Services Educational Instruction 162397 Australia Program Services Educational Instruction 14471 0 0 0 0 0 0 1218121 0 1218121 General Scholarships Central America & Caribbean 27 32457 Tuition reductions from full-tuition FMV General Scholarships Europe 23 57807 Tuition reductions from full-tuition FMV General Scholarships South America 9 26409 Tuition reductions from full-tuition FMV General Scholarships North America 25 34644 Tuition reductions from full-tuition FMV General Scholarships Africa 109 889936 Tuition reductions from full-tuiton FMV General Scholarships Asia 55 162397 Tuition reductions from full-tuiton FMV General Scholarships Australia 11 14471 Tuition reductions from full-tuiton FMV 0 0 0 0 0 0 Part I, Line 2: Scholarships provided to international students participating in courses hosted outside the United States. Scholarships are non-cash tuition reductions from the full-tuition rate and are based on the program the students are in. No other criteria are used to determine the tuition reduction. Payment of reduced-tuition rate is monitored by the Student Accounts Office. X X X X X X 1 The Stelter Company PO Box 5228 Des Moines IA 50305 Consulting 0 0 5500 5500 5500 5500 CO MA NH WI AR NJ UT 1 COPAHNI Inc 270 Libbey Industrial Parkway Weymouth MA 02189 000883397 501 (c) (3) 21000 0 Nurture religious youth life Black Ministerial Alliance 2010 Columbus Ave Boston MA 02119 043499852 501 (c) (3) 21000 0 Nurture religious youth life Vision New England PO Box 657 Stratham NH 03885 042121335 501 (c) (3) 21000 0 Nurture religious youth life 3 Endowed Scholarships 70 384827 FMV of award amount Tuition reductions from full-tuition Named Scholarships 290 1548744 FMV of award amount Tuition reductions from full-tuition General Scholarships 1216 3834895 FMV of award amount Tuition reductions from full-tuition Part I, Line 2: All students who are applying for Federal financial aid are required to complete the FAFSA and the Gordon-Conwell financial aid application. The information obtained from these documents is used by the Financial Aid Office to determine eligibility of Federal and institutional aid. To assist with determining their eligibility, each student is assigned an institutional budget for the cost of attendance. This budget includes tuition, books and fees, room and board, health insurance, transportation, and a miscellaneous category. In general, Gordon-Conwell scholarships are either need-based or merit-based and any Gordon-Conwell aid that is awarded is factored into the eligibility for Federal aid. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Scott W Sunquist President 140724 0 0 0 3708 0 21375 0 93828 0 259635 0 0 0 Alex Koh VP of Strategy and CIO 147219 0 0 0 414 0 7570 0 20959 0 176162 0 0 0 Kenneth J Barnes Professor/Pivot Chairman 153005 0 0 0 2306 0 6289 0 12604 0 174204 0 0 0 Gregg C Hansen Chief Financial Officer 124410 0 0 0 414 0 6630 0 20959 0 152413 0 0 0 Part I, Line 1a Travel for companions is restricted to spouses and only in accordance with the Spousal Travel Policy. Housing allowance is restricted to eligible ordained or licensed ministers who are connected with a church or denomination that exercises significant oversight and supervision over their ministerial duties at the Seminary. The parsonage allowance, which is a portion of the minister's total salary, is approved annually by the Audit Committee. Scott Sunquist Officer 2nd Mortgage X 200000 200000 0 1 1 Gregg C Hansen Officer 2nd Mortgage X 50000 50000 0 1 1 250000 X 53 1505464 Market quotations 0 1 1 Schedule M, Line 32b: Gordon-Conwell utilized the services of a real estate agent to sell a plot of residential land that was donated. Form 990, Part VI, Section B, line 11b Form 990 is prepared and reviewed by management. The return is then reviewed by the tax department of Gordon-Conwell's independent accountants. The public version of the return is next reviewed by the Audit Committee and then the public version of the return is provided to the Board of Trustees before the non-public version of the return is filed with the IRS. Form 990, Part VI, Section B, line 12c Gordon-Conwell requires a conflict of interest policy form to be signed annually by each Trustee, President's Cabinet Member, and Faculty Member. The Chairman of the Board of Trustees is responsible for enforcing the policy for all Trustees. The President is responsible for enforcing the policy for all President's Cabinet Members and Faculty Members. Form 990, Part VI, Section B, line 15 Compensation of Gordon-Conwell's President and Vice President for Finance and Operations/Chief Financial Officer is determined by the Executive Compensation & Personnel Committee, which is made up of independent members of the Board of Trustees. The Executive Compensation & Personnel Committee reviews compensation survey data for comparable positions at peer schools to determine reasonable and appropriate executive compensation. The final compensation amounts are approved and contemporaneously documented by the Executive Compensation & Personnel Committee and included in the fiscal year budget that is approved by the Board of Trustees. Form 990, Part VI, Section C, line 19 Gordon-Conwell makes its IRS Form 1023, IRS Form 990, IRS determination letter, governing documents, conflict of interest policy, and financial statements available to the public upon request. Public versions of the documents will be provided either via U.S. Postal Service or email. Gordon-Conwell also makes its Annual Report and financial statements available on its website. Form 990, Part IX, line 11g Other Fees: Program service expenses 2,507,130. Management and general expenses 666,873. Fundraising expenses 47,989. Total expenses 3,221,992. Form 990, Part X, Line 10: Land, Buildings, and Equipment Gordon-Conwell Theological Seminary, Inc. 130 Essex Street South Hamilton, MA 01982 EIN 04-2463847 Gordon-Conwell Theological Seminary, Inc. is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part V, Line 3a: Gordon-Conwell has no unrelated business income. Its revenue is either directly related to its exempt function as a 501(c)(3) school or is excluded from unrelated business income due to the exclusions of rent from real property and all dividends, interest, annuities and other investment income. Form 990, Schedule L, Part II: Loans to and From Interested Persons Housing assistance loans are part of the Housing Assistance Program, which is a shared appreciation loan for the purchase of a home. The loan accrues interest during the life of the loan based on a shared appreciation formula and no interest or principal is paid until the borrower is required to pay off the loan. The loan is secured with a second mortgage on the house.