2020-10-15T09:27:58-05:00 2020-06-30 561220683 POTTER & COMPANY PA 434 COPPERFIELD BLVD NE STE A CONCORD NC 28025 990 2019-07-01 562231069 HOOD THEOLOGICAL SEMINARY HOOD 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR VERGEL LATTIMORE PRESIDENT 7046366454 2020-10-14 1 JOHN W KAPELAR CPA P00195499 7047868189 3.220.243.49 2020-10-14 12:01:31 ED P D6CA3E4FD539C4B301CFADC9F0D5540429090824 D6CA3E4FD539C4B301CFADC9F0D5540429090824 2019 2021-01-29 14:40:06Z DR VERGEL LATTIMORE 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 8456587 0 X WWW.HOODSEMINARY.EDU X EDUCATIONAL INSTITUTION 2001 NC EDUCATIONAL INSTITUTION 18 18 63 0 0 0 1448153 1737722 1558561 1522933 341378 276108 74376 11651 3422468 3548414 210024 112594 0 0 2064409 1780020 0 0 365160 1143729 1103601 3418162 2996215 4306 552199 15326991 15889926 1142850 1208622 14184141 14681304 EDUCATIONAL INSTITUTION 0 0 1215104 112594 1539667 THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION AND PROVIDES INSTRUCTION, SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE 1215104 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 24 0 63 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 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 2.00 X 0 0 0 BISHOP GEORGE W C WALKER SR TRUSTEE EMERITUS 2.00 X 0 0 0 DR RICHARD MARTIN TRUSTEE EMERITUS 2.00 X 0 0 0 DR NED STOREY TRUSTEE EMERITUS 2.00 X 0 0 0 JANET WARD BLACK TRUSTEE EMERITUS 2.00 X 0 0 0 REV TERRY L JONES SR TRUSTEE 2.00 X 0 0 0 BISHOP JOSEPH JOHNSON TRUSTEE EMERITUS 2.00 X 0 0 0 REV DR DOUGLAS L MAVEN ASST. SECRETARY 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 CHAIRMAN 5.00 X 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 2.00 X 0 0 0 REV DR MARK J KEY TRUSTEE 2.00 X 0 0 0 BISHOP STACCATO POWELL TRUSTEE 2.00 X 0 0 0 BISHOP DARRYL B STARNES TRUSTEE 2.00 X 0 0 0 REV DR LAMONT FOSTER TRUSTEE/HTSNAA PRESIDENT 2.00 X 0 0 0 DR VERGEL L LATTIMORE PRESIDENT 60.00 X 173893 0 8547 173893 0 8547 1 0 1 0 0 27573 1710149 24111 1737722 TUITION & FEES 611600 1464396 1464396 HOUSING FEES 611710 43219 43219 MEAL PLAN FEES 611710 15318 15318 1522933 292864 292864 18200 23283 -5083 -5083 -5083 4868134 4884890 -16756 -16756 -16756 AYMER CENTER COST REIMBURSEMENTS 999999 10400 10400 ALUMNI DUES 999999 4658 4658 MISCELLANEOUS 999999 1676 1676 16734 3548414 1539667 0 271025 112594 112594 182440 182440 1197290 557120 416008 224162 19261 10913 3744 4604 295585 100544 167389 27652 85444 36168 32423 16853 16500 16500 51635 51635 54094 54094 112443 33777 40798 37868 17215 300 16915 4843 2765 2078 108245 44379 58454 5412 75746 20087 53210 2449 26057 655 13583 11819 2548 2533 15 4436 4436 192117 78768 103743 9606 32349 13263 17469 1617 IECCD GRANT EXPENSES 127692 127692 SUPPLIES & MINOR EQUIPM 45510 9251 33268 2991 DUES & SUBCRIPTIONS 43868 43868 AAAS GRANT EXPENSES 41838 41838 146465 28055 117291 1119 2996215 1215104 1415951 365160 2976409 3098980 124000 136500 57963 67946 39258 40348 5715565 2088307 3763142 3627258 8355713 8905607 10506 13287 15326991 15889926 38496 19024 1031756 832190 64787 52020 7811 305388 1142850 1208622 X 5364506 5178536 8819635 9502768 14184141 14681304 15326991 15889926 552199 -55036 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7208066 471870 161873 63343 7778466 6869691 189615 261600 112840 7208066 6435260 114191 320240 6869691 5994977 94040 346243 6435260 5784563 302227 -91813 5994977 1.00000 0 0 29799 29799 103101 18746 84355 4456484 619256 3837228 1093181 1450305 -357124 33000 33000 3627258 DAMAGE AND KEY DEPOSITS 7586 REFUNDABLE ADVANCES 297802 305388 X 3349973 -55036 23283 -31753 3381726 54094 112594 166688 3548414 2852810 23283 23283 2829527 166688 166688 2996215 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, 2020 AND 2019. 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 76 112594 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 PRESIDENT 157097 0 0 0 16796 0 8150 0 397 0 182440 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.