2022-03-17T14:27:29-05:00 2021-05-31 BKD LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2020-06-01 640428676 REFORMED THEOLOGICAL SEMINARY % CHRIS DIGHTON REFO 6019231600 5422 CLINTON BLVD JACKSON MS 39209 DOUGLAS E BAKER CHIEF OF STAFF 6019231600 2022-04-15 true DOUGLAS E BAKER 000000000 Amber Sherrill CPA P00748683 5013721040 2022-04-15 3 2020 2022-09-23 18:48:47Z J LIGON DUNCAN III 5422 CLINTON BLVD JACKSON MS 39209 50076639 false X RTS.EDU X 1964 MS TO PREPARE LEADERS FOR THE CHURCH WITH A MIND FOR TRUTH AND A HEART FOR GOD THROUGH A PROGRAM OF GRADUATE THEOLOGICAL EDUCATION. 18 17 322 17 -128922 0 8386434 10680692 11154176 13111573 6770039 4733592 451393 283838 26762042 28809695 4616660 5539423 0 0 12195897 12003777 0 0 1445626 6249220 6239174 23061777 23782374 3700265 5027321 103910846 126127780 4582470 3660101 99328376 122467679 X REFORMED THEOLOGICAL SEMINARY (RTS) EXISTS TO GLORIFY THE TRIUNE GOD AND TO SERVE HIS CHURCH IN ALL BRANCHES OF EVANGELICAL CHRISTIANITY, ESPECIALLY PRESBYTERIAN AND REFORMED CHURCHES, BY PROVIDING REFORMED GRADUATE THEOLOGICAL EDUCATION THAT IS GLOBALLY ACCESSIBLE. REFORMED THEOLOGICAL SEMINARY EQUIPS ITS STUDENTS FOR MINISTRY, PRIMARILY THROUGH PASTORAL TRAINING, TO BE SERVANT LEADERS MARKED BY "A MIND FOR TRUTH. A HEART FOR GOD". false false 18015003 5539423 13192670 THE SEMINARY SERVES APPROXIMATELY 1,800 STUDENTS THROUGH CAMPUSES I JACKSON, MS, ORLANDO, FL, CHARLOTTE, NC, METRO WASHINGTON, DC, ATLANTA, GA, HOUSTON, TX, DALLAS, TX, NEW YORK, NY, DISTANCE EDUCATION PROGRAMS, AND AN EXTENSION SITE IN SAO PAULO, BRAZIL. IN ADDITION, THE SEMINARY IS ENHANCING REFORMED THEOLOGY CURRICULUM WITH ORGANIZATIONS IN INDONESIA. STUDENTS AT RTS ARE ENROLLED IN THE FOLLOWING ACADEMIC DEGREE PROGRAMS: MASTER OF DIVINITY, MASTER OF ARTS (THEOLOGICAL STUDIES), MASTER OF ARTS (BIBLICAL STUDIES), MASTER OF ARTS (RELIGION), MASTER OF ARTS IN COUNSELING, MASTER OF ARTS IN CHRISTIAN COUNSELING, AND DOCTOR OF MINISTRY. 18015003 true true false false false false false true false true true true false false true false false true true true true false true false true false false false true true false false false false false false true true true false false false true true true true false false true 169 0 true 322 true true true false false false false false true 1 false false true false false false X 18 17 false false false false false false false true true false true true true true true true true true true true false AK CO DC KY MD MA MI NV NH NJ NY OH OK OR SC WA WI X CHRIS DIGHTON 6019231600 5422 CLINTON BLVD JACKSON MS 39209 X J LIGON DUNCAN III CHANCELLOR/CEO 40.0 1.0 X 292345 0 49993 JAMES L HARVEY EXECUTIVE DIRECTOR - NYC 40.0 0.0 X 200449 0 37438 MICHAEL J KRUGER PRESIDENT - CHARLOTTE 40.0 0.0 X 149990 0 32996 ROBERT J CARA PROVOST/CAO 40.0 1.0 X 146730 0 34362 E BRADLEY TISDALE CHIEF OPERATIONS AND FINANCIAL 40.0 1.0 X 136095 0 39338 JOHN S REDD JR PRESIDENT - WASHINGTON 40.0 0.0 X 142311 0 31855 SCOTT R SWAIN PRESIDENT - ORLANDO 40.0 0.0 X 140372 0 32948 MATTHEW BRYANT SENIOR VP - DEVELOPMENT 40.0 1.0 X 125277 0 36912 PAULINE M STONE CHIEF INSTITUTIONAL ASSESSMENT 25.0 0.0 X 40650 0 4545 RICHARD L RIDGWAY CHAIRMAN 1.0 1.0 X X 0 0 0 COLLIE W LEHN VICE-CHAIRMAN 1.0 1.0 X X 0 0 0 RODERICK S RUSS III SECRETARY 1.0 1.0 X X 0 0 0 PAUL HURST III TRUSTEE 1.0 1.0 X 0 0 0 BF BRACY TRUSTEE 1.0 1.0 X 0 0 0 DAVID H LUCAS TRUSTEE 1.0 1.0 X 0 0 0 J SCOTT REDD SR TRUSTEE 1.0 1.0 X 0 0 0 JAMES L MOORE TRUSTEE 1.0 1.0 X 0 0 0 GEORGE R FAIR TRUSTEE 1.0 1.0 X 0 0 0 WILLIAM M MOUNGER II TRUSTEE 1.0 1.0 X 0 0 0 LARRY W EDWARDS TRUSTEE 1.0 1.0 X 0 0 0 V HU MEENA TRUSTEE 1.0 0.0 X 0 0 0 SCOTT MACLELLAN TRUSTEE 1.0 0.0 X 0 0 0 CHARLES L IRBY SR TRUSTEE 1.0 0.0 X 0 0 0 ROBERT T CURTIS TRUSTEE 1.0 0.0 X 0 0 0 T DAVID ELKIN TRUSTEE 1.0 0.0 X 0 0 0 BENJAMIN W ROBERSON TRUSTEE 1.0 0.0 X 0 0 0 WARREN J WILLIAMSON JR TRUSTEE 1.0 0.0 X 0 0 0 1374219 0 300387 13 false true false SHI INTERNATIONAL CORPORATION PO BOX 952121 DALLAS TX 753952121 INFORMATION SERVICES 153276 PENDLETON SECURITY PO BOX 14005 JACKSON MS 39236 SECURITY 152177 JENZABAR INC 101 HUNTINGTON AVE BOSTON MA 02199 SOFTWARE PROVIDER 120212 HEDERMAN BROTHERS PO BOX 1036 MADISON MS 39130 PRINTING SERVICES 110658 4 67436 73500 10539756 212472 10680692 Tuition and Fees 611600 12965253 12965253 COUNSELING CLINIC INCOME 624190 86161 86161 FINANCE CHARGES 611600 36951 36951 STUDENT CLINIC FEES 621111 14240 14240 LIBRARY FINES 611600 1099 1099 7869 7869 13111573 822238 -128922 951160 0 0 753282 422518 330764 0 330764 81097 249667 22732447 1817332 19882281 756144 2850166 1061188 3911354 3911354 0 67436 10652 -10652 -10652 0 0 0 159075 195349 -36274 -36274 0 28809695 13192670 -128922 5065255 0 5492244 5492244 47179 47179 0 705158 310825 282647 111686 0 8859277 6377515 1513312 968450 689050 429473 211750 47827 1130756 748544 320652 61560 619536 379061 194672 45803 0 18628 11989 6639 80832 80832 0 0 274303 274303 717553 353319 297943 66291 42064 5432 36632 522346 254084 188258 80004 614873 498858 116015 0 1119135 920431 198704 262229 162502 75155 24572 0 53071 32781 10968 9322 8217 8217 8022 8022 1371653 1126710 244943 164785 127635 37150 REPAIRS AND MAINTENANCE 455231 298146 157085 DUES AND SUBSCRIPTIONS 67394 46236 19857 1301 PERSONNEL DEVELOPMENT 61815 51702 10113 BAD DEBT EXPENSE 28369 28369 368654 352326 2179 14149 23782374 18015003 4321745 1445626 2715869 1332905 169118 577825 553603 1203625 360021 410767 0 0 0 0 1691268 1690268 136050 142236 309262 313108 48448790 30225945 19658047 18222845 42515507 54351466 33005785 44574304 0 0 0 0 2796316 3308431 103910846 126127780 945175 1555103 0 0 1010419 1292783 0 0 0 0 37 0 1774600 0 0 0 852239 812215 4582470 3660101 X 45617815 66636399 53710561 55831280 99328376 122467679 103910846 126127780 X 5027321 17679385 432597 X false true X true false X 6714609 8395056 6656122 8386434 10680692 40832913 0 0 6714609 8395056 6656122 8386434 10680692 40832913 7522420 33310493 1954984 1592640 1675346 1871555 1575520 8670045 20040 0 0 0 0 20040 145244 165093 215633 191470 0 717440 50240438 57445191 0.66302 0.53131 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 396250 X X false 74975102 20437053 249217 69520 3657 95588195 78960995 1074561 219170 60955 5214747 3922 74975102 73353893 5359738 266333 14100 4869 78960995 64934577 8098406 386185 60000 5275 73353893 69160587 271669 609850 17700 5086104 3725 64934577 0.49000 0.51000 false true true 5824925 5824925 24367328 14894452 9472876 966317 226516 739801 13474830 11904767 1570063 3815389 3200209 615180 18222845 FLEXIBLE CAPITAL 8720232 F EQUITY - INTERNATIONAL 12426751 F EQUITY - DOMESTIC 3569202 F PRIVATE EQUITY 14297301 F FIXED INCOME - INTERNATIONAL 0 F NON-PUBLIC STOCK - BANK OF CHA 3900 C PUBLIC REAL ASSETS 5556918 F 44574304 0 Annuity Obligations 774933 Student Housing Deposits 37282 812215 41721446 17679385 -5396153 12283232 29438214 -628519 -628519 28809695 18582143 628519 628519 17953624 5828750 5828750 23782374 SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED ITS INCOME TAX POSITIONS UNDER GUIDANCE INCLUDED IN ASC 740. BASED ON ITS REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART III, LINE 4 THE SEMINARY HAS THREE TORAH SCROLLS (ONE EACH AT OUR JACKSON, ORLANDO, AND CHARLOTTE CAMPUSES) THAT ARE DISPLAYED FOR THE BENEFIT OF OUR STUDENTS AND FRIENDS OF THE SEMINARY. SCHEDULE D, PART V, LINE 4 THE ENDOWMENT FUNDS ARE USED TO FUND OPERATING EXPENSES, AWARD SCHOLARSHIPS TO STUDENTS, TAKE ADVANTAGE OF STRATEGIC OPPORTUNITIES, AND TO MAKE DISTRIBUTIONS TO OTHER 501(C)(3) ORGANIZATIONS. Part XI, Line 2d: Other Adjustments: Investment management fees ($274,303) change in beneficial interest in trusts $432,597 Reclass Scholarships ($5,539,423) Fund expenses not part of operations ($15,024) TOTAL TO SCHEDULE D, PART XI, LINE 2D: ($5,396,153) Part XI, Line 4b: Other Adjustments: Reclass Cost of Sales ($195,349) Reclass Rental Expenses ($422,518) Reclass direct expenses from fundraising events ($10,652) TOTAL TO SCHEDULE D, PART XI, LINE 4B: ($628,519) Part XII, Line 2d: Other Adjustments: reclass cost of sales $195,349 reclass rental expenses $422,518 reclass direct expenses from fundraising events $10,652 TOTAL TO SCHEDULE D, PART XII, LINE 2D: $628,519 Part XII, Line 4b: Other Adjustments: Investment management fees $274,303 Reclass scholarships $5,539,423 Fund expenses not part of operations $15,024 TOTAL TO SCHEDULE D, PART XII, LINE 4B: $5,828,750 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE SEMINARY'S NONDISCRIMINATION POLICY IS COMMUNICATED TO THE GENERAL COMMUNITY THROUGH ITS OFFICIAL WEBSITE, WWW.RTS.EDU, AND CATALOG. SCHEDULE E, PART I, LINE 6A THE SEMINARY RECEIVED PAYMENTS FROM THE DEPARTMENT OF VETERANS AFFAIRS (GI BILL AND POST 9/11 VETERAN EDUCATION FUNDING), FROM THE DEPARTMENT OF MILITARY AFFAIRS (FLORIDA NATIONAL GUARD'S EDUCATIONAL DOLLARS FOR DUTY), FOR TUITION AND FEES RELATED TO STUDENTS THAT QUALIFY FOR THOSE BENEFITS. IN ADDITION, IN NEW YORK STATE, THE SEMINARY RECEIVES FUNDS FROM THE NEW YORK STATE OFFICE OF CHILDREN AND FAMILY SERVICES FOR TUITION AND FEES RELATED TO STUDENTS THAT QUALIFY FOR THOSE BENEFITS. IN MISSISSIPPI, THE SEMINARY RECEIVES FUNDS FROM THE MISSISSIPPI DEPARTMENT OF REHABILITATION SERVICES FOR TUITION AND FEES RELATED TO STUDENTS THAT QUALIFY FOR THOSE BENEFITS. IN FLORIDA, THE SEMINARY RECEIVES FUNDS FROM THE FLORIDA DIVISION OF BLIND SERVICES FOR TUITION AND FEES RELATED TO STUDENTS THAT QUALIFY FOR THOSE BENEFITS. true Central America and the Caribbean Investments 9476456 Sub-Saharan Africa Grantmaking SCHOLARSHIPS 2875 East Asia and the Pacific Grantmaking SCHOLARSHIPS 16225 Europe (Including Iceland and Greenland) Grantmaking SCHOLARSHIPS 6133 North America Grantmaking SCHOLARSHIPS 21946 South America 1 1 Program Services INSTRUCTIONAL 5740 East Asia and the Pacific 2 2 Program Services INSTRUCTIONAL 98879 3 3 3 3 9628254 9628254 Scholarships EAST ASIA AND THE PACIFIC 21 16225 SCHOLARSHIP FMV Scholarships EUROPE (INCLUDING ICELAND AND GREENLAND) 10 6133 SCHOLARSHIP FMV Scholarships NORTH AMERICA 12 21946 SCHOLARSHIP FMV Scholarships Sub-Saharan Africa 1 2875 SCHOLARSHIP FMV true false true true true false SCHEDULE F, PART I, LINE 2 RECORDS ARE MAINTAINED SHOWING SCHOLARSHIP AWARDS TO SPECIFIC INDIVIDUALS WHO LIVE IN REGIONS OUTSIDE THE UNITED STATES. Part I, Line 3: THE SEMINARY OWNS AN INTEREST IN SIX INTERNATIONAL PRIVATE EQUITY FUNDS DOMICILED IN THE CAYMAN ISLANDS AND ONE INTERNATIONAL PRIVATE EQUITY FUND DOMICILED IN BERMUDA. DAVIDSON KEMPNER LONG-TERM DISTRESSED OPPORTUNITIES INTERNATIONAL II LP, DAVIDSON KEMPNER LONG-TERM DISTRESSED OPPORTUNITIES INTERNATIONAL III, LP, DAVIDSON KEMPNER LONG-TERM DISTRESSED OPPORTUNITIES INTERNATIONAL IV, LP, DAVIDSON KEPMNER LONG-TERM DISTRESSED OPPORTUNITIES INTERNATIONAL V, LP, DRAKE CAPITAL OFFSHORE PARTNERS LP, WELLSPRING CAPITAL PARTNERS VI, LP, AND WELLINGTON ARCHIPELAGO HOLDINGS, LTD. THE FMV OF THESE INVESTMENTS AS OF 5/31/21 WAS $9,476,456 ($410,307, $433,429, $815,716, $419,778, $3,264,873, $756,224, and $3,376,129 respectively). PART IV, LINE 1: THE SEMINARY IS FILING FORM 926 FOR THE DIRECT TRANSFER TO DAVIDSON KEMPNER LONG-TERM DISTRESSED OPPORTUNITIES INTERNATIONAL V, LP. PART IV, LINE 3: THE FILING REQUIREMENTS OF FORM 5471 WERE NOT MET BY THE SEMINARY DURING THE FISCAL YEAR ENDED 5/31/21 FOR ITS OWNERSHIP IN A FOREIGN CORPORATION. THEREFORE, FORM 5471 WAS NOT FILED BY THE SEMINARY. PART IV, LINE 4: THE SEMINARY WAS AN INDIRECT SHAREHOLDER OF A PASSIVE FOREIGN INVESTMENT COMPANY (PFIC) OR A QUALIFIED ELECTING FUND DURING THE TAX YEAR. PER THE INSTRUCTIONS TO FORM 8621, A TAX-EXEMPT ORGANIZATION THAT DOES NOT HAVE DISTRIBTUIONS SUBJECT TO UNRELATED BUSINESS INCOME TAX FROM A PFIC IS NOT REQUIRED TO FILE THE FORM. THE SEMINARY IS A TAX-EXEMPT ORGANIZATION. THERE WERE NO DISTRIBUTIONS FROM THE PFIC THAT WERE SUBJECT TO UNRELATED BUSINESS INCOME TAX. ACCORDINGLY, A FORM 8621 WAS NOT FILED THIS TAX YEAR. Westfall Group Consulting false Westfall Gold Consulting false Westfall Productions Consulting false Westfall Speakers Consulting false ORLANDO VISION 67436 67436 183 4334 6135 0 67436 67436 183 4334 6135 10652 -10652 true SCHOLARSHIPS 1892 5492244 FMV SCHOLARSHIPS SCHEDULE I, PART I, LINE 2 SCHOLARSHIP ASSISTANCE IS APPROVED AND MONITORED FOR INDIVIDUALS THROUGH CAMPUS SCHOLARSHIP COMMITTEES WITH CONSULTING FROM INSTITUTIONAL FINANCIAL AID STAFF. X true true X false false false false false false false false false J LIGON DUNCAN III CHANCELLOR/CEO 231595 0 750 0 60000 0 24180 0 25813 0 342338 0 0 0 ROBERT J CARA PROVOST/CAO 108468 0 750 0 37512 0 11621 0 22741 0 181092 0 0 0 E BRADLEY TISDALE CHIEF OPERATIONS AND FINANCIAL 135345 0 750 0 0 0 14580 0 24758 0 175433 0 0 0 JAMES L HARVEY EXECUTIVE DIRECTOR - NYC 109699 0 750 0 90000 0 11938 0 25500 0 237887 0 0 0 MICHAEL J KRUGER PRESIDENT - CHARLOTTE 99240 0 750 0 50000 0 10659 0 22337 0 182986 0 0 0 JOHN S REDD JR PRESIDENT - WASHINGTON 84957 0 750 0 56604 0 9256 0 22599 0 174166 0 0 0 SCOTT R SWAIN PRESIDENT - ORLANDO 99622 0 750 0 40000 0 10690 0 22258 0 173320 0 0 0 MATTHEW BRYANT SENIOR VP - DEVELOPMENT 124527 0 750 0 0 0 13381 0 23531 0 162189 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCES - ANNUALLY REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE SEMINARY. TWO OFFICERS AND FOUR HIGHEST COMPENSATED EMPLOYEES RECEIVED HOUSING ALLOWANCES WHICH WERE INCLUDED IN THEIR TAXABLE COMPENSATION. 0 JOHN S REDD JR FAMILY RELATIONSHIP 169776 SEE PART V false PART IV, LINE (1), COLUMN (B): Relationship between interested person and the organization: John S. Redd, Jr is the son of J. Scott Redd, Sr., board member. Part IV, Line (1), Column (d): Description of transaction: Compensation was paid to a family member of a board member in excess of $10,000. X 19 212472 FMV AT TIME OF GIFT 0 false true true SCHEDULE M, PART 1, LINE 9, COLUMN B THE AMOUNT REPORTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. SCHEDULE M, PART I, LINE 32B THE SEMINARY USES THIRD-PARTY REALTORS TO MARKET AND SELL DONATED LAND. THE SEMINARY ALSO USES AN INVESTMENT BROKER TO SELL PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B: A MEETING IS HELD BY THE AUDIT/FINANCE COMMITTEE OF THE SEMINARY TO ALLOW COMMITTEE MEMBERS TO DISCUSS THE RETURN AND ASK ANY QUESTIONS. AFTER DISCUSSION/REVISIONS HAVE OCCURRED, THE RETURNS ARE RECOMMENDED TO THE EXECUTIVE COMMITTEE FOR REIVEW AND APPROVAL TO BE FILED. THE FORM 990 IS ALSO PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: THE FULL BOARD OF TRUSTEES AND OFFICERS OF THE SEMINARY ON AN ANNUAL BASIS DISCLOSE RELATED PARTY TRANSACTIONS THAT COULD GIVE RISE TO CONFLICTS. ANY TRANSACTIONS THAT ARE DISCLOSED ARE REPORTED IN THE MINUTES OF THE BOARD MEETINGS. PERSONS WITH A CONFLICT ARE PROHIBITED FROM PARTICIPATING IN THE BOARD DELIBERATIONS & DECISIONS REGARDING THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A & B: THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE TOTAL COMPENSATION OF ALL OFFICERS OF THE SEMINARY ON AN ANNUAL BASIS. THE TOTAL AVERAGE COMPENSATION FROM ANNUAL SURVEYS OF U.S. SCHOOLS THAT ARE MEMBERS OF THE ASSOCIATION OF THEOLOGICAL SCHOOLS IS USED TO DETERMINE THE REASONABLENESS OF OFFICER COMPENSATION, AS WELL AS OTHER MARKET FACTORS SUCH AS DEGREES, YEARS OF EXPERIENCE, PREVIOUS EMPLOYMENT RELATIONSHIPS, AND COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19: REFORMED THEOLOGICAL SEMINARY MAKES ITS FINANCIAL STATEMENTS, GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND BYLAWS), AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTERESTS IN TRUST $432,597 REFORMED PROPERTIES LLC 1231 REFORMATION DRIVE OVIEDO FL 32765 270679756 REAL ESTATE FL 214184 1039964 RTS RTS FOUNDATION INC 5422 CLINTON BLVD JACKSON MS 39209 640918136 FUNDRAISING MS 501(C)(3) 12A RTS true REFORMED THEOLOGICAL SEMINARY OF FLORIDA 1231 REFORMATION DRIVE OVIEDO FL 32765 421647628 THEO ED FL 501(C)(3) 12A RTS true false false true false false false false false false false false true false true true true false false false RTS Foundation Inc C 73500 FMV