2022-10-26T13:35:03-05:00 2022-06-30 561220683 POTTER & COMPANY PA 434 COPPERFIELD BLVD NE STE A CONCORD NC 28025 990 2021-07-01 562231069 HOOD THEOLOGICAL SEMINARY HOOD 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR VERGEL LATTIMORE PRESIDENT 7046366454 2022-10-26 1 DR VERGEL LATTIMORE 999009999 KENNI E DOYLE CPA P01353112 7047868189 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DR VERGEL LATTIMORE 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 5589238 0 X WWW.HOODSEMINARY.EDU X EDUCATIONAL INSTITUTION 2001 NC EDUCATIONAL INSTITUTION 19 19 58 0 0 0 2460405 2061706 1501728 1510833 699666 586610 74929 26161 4736728 4185310 95765 127666 0 0 1745664 1806524 0 0 447863 1416895 1644876 3258324 3579066 1478404 606244 19733231 17605409 1968290 1209938 17764941 16395471 EDUCATIONAL INSTITUTION 0 0 1711337 127666 1533398 THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION AND PROVIDES INSTRUCTION, SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE 1711337 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 1 0 0 0 0 0 0 0 0 1 17 0 58 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 REV 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 DWIGHT F MESSINGER TRUSTEE 2.00 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 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 165630 0 24000 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 165630 0 24000 1 0 1 0 0 618652 1443054 28056 2061706 TUITION 611600 1510833 1510833 1510833 448389 448389 42903 39307 3596 3596 3596 1502842 1343371 21250 159471 -21250 138221 138221 ALUMNI DUES 999999 21841 21841 MISCELLANEOUS 999999 724 724 22565 4185310 1533398 0 590206 127666 127666 1334597 506359 550875 277363 48885 13915 23425 11545 337106 77885 223006 36215 85936 33298 34447 18191 19500 19500 40950 40950 79264 79264 104961 35322 65331 4308 3888 3888 102842 42164 55535 5143 78012 24033 51048 2931 49264 50 6842 42372 1175 1175 2617 2617 154051 63161 83187 7703 36200 14842 19548 1810 GRANT EXPENSES 699332 699332 DUES & SUBCRIPTIONS 48851 48851 RECRUITMENT 38715 38715 CHAPLAINCY CENTER EXPEN 38393 38393 146861 34917 110377 1567 3579066 1711337 1419866 447863 3786244 3093886 90000 55000 103590 117954 43332 39567 5853771 2350555 3609590 3503216 12091563 10779360 8912 16426 19733231 17605409 39365 28617 1592663 1147448 38373 23786 297889 10087 1968290 1209938 X 5450082 5251311 12314859 11144160 17764941 16395471 19733231 17605409 606244 -1975714 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9230258 413541 -858620 8785179 7778466 217447 1234344 9230258 7208066 471870 161873 63343 7778466 6869691 189615 261600 112840 7208066 6435260 114191 320240 6869691 1.00000 0 0 29799 29799 103101 26244 76857 4609622 1281012 3328610 1078249 1043299 34950 33000 33000 3503216 DAMAGE AND KEY DEPOSITS 8627 REFUNDABLE ADVANCES 1460 10087 X 4017687 39307 39307 3978380 79264 127666 206930 4185310 3411443 39307 39307 3372136 206930 206930 3579066 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, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 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 189 127666 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 127270 0 0 0 38360 0 24000 0 0 0 189630 0 0 0 PART I, LINE 1A DR. LATTIMORE IS AN ORDAINED MINISTER. HOUSING ALLOWANCE PROVIDED AS NON-TAXABLE COMPENSATION. X LEGAL SERVICES 2 19500 HOURLY RATE X # HOUR X MISCELLANEOUS SUPPLIES 9 8556 PURCHASE PRICE 0 0 0 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.