2019-10-15T13:08:51-05:00 2019-06-30 561220683 POTTER & COMPANY PA 434 COPPERFIELD BLVD NE STE A CONCORD NC 28025 990 2018-07-01 562231069 HOOD THEOLOGICAL SEMINARY HOOD 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR VERGEL LATTIMORE PRESIDENT 7046366454 2019-10-04 1 JOHN W KAPELAR CPA P00195499 7047868189 70.60.199.245 2019-10-04 09:47:39 ED P 5C511D7D7579B682110178C91BC4B237A7A01607 5C511D7D7579B682110178C91BC4B237A7A01607 2018 2020-03-31 21:24:44Z DR VERGEL LATTIMORE 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 5782126 0 X WWW.HOODSEMINARY.EDU X EDUCATIONAL INSTITUTION 2001 NC EDUCATIONAL INSTITUTION 18 18 68 0 26450 0 1521736 1448153 1462309 1558561 406108 341378 -12951 74376 3377202 3422468 92626 210024 0 0 2001268 2064409 0 0 406898 1022086 1143729 3115980 3418162 261222 4306 14269395 15326991 238500 1142850 14030895 14184141 EDUCATIONAL INSTITUTION 0 0 1447730 210024 1606487 THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION AND PROVIDES INSTRUCTION, SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE 1447730 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 0 0 68 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 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 150498 0 39050 150498 0 39050 2 0 1 0 0 28419 1419734 1448153 TUITION & FEES 611600 1471554 1471554 HOUSING FEES 611710 66023 66023 MEAL PLAN FEES 611710 20984 20984 1558561 296554 296554 26450 0 26450 26450 26450 2404482 2359658 44824 44824 44824 AYMER CENTER COST REIMBURSEMENTS 999999 38662 38662 ALUMNI DUES 999999 6108 6108 MISCELLANEOUS 999999 3156 3156 47926 3422468 1606487 26450 341378 210024 210024 1560824 714758 606575 239491 80651 22609 46603 11439 325165 117343 180584 27238 97769 44526 35269 17974 16500 16500 56194 56194 51075 51075 133464 39080 51103 43281 17136 5011 12125 9674 66 7344 2264 73170 30817 38882 3471 120590 31854 84852 3884 67112 14027 29982 23103 5696 3182 2514 3066 3066 189443 77672 102299 9472 31792 13035 17167 1590 IECCD GRANT EXPENSES 71406 71406 SUPPLIES & MINOR EQUIPM 52890 12176 34778 5936 MISCELLANEOUS 48839 14844 33922 73 FOOD SERVICE 48282 48282 147400 25300 116543 5557 3418162 1447730 1563534 406898 2436795 2976409 7000 124000 38665 57963 30945 39258 5659332 1896190 3855642 3763142 7889083 8355713 11265 10506 14269395 15326991 46628 38496 184661 1031756 64787 7211 7811 238500 1142850 X 5812071 5364506 1349133 1611569 6869691 7208066 14030895 14184141 14269395 15326991 4306 148940 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6869691 189615 261600 112840 7208066 6435260 114191 320240 6869691 5994977 94040 346243 6435260 5784563 302227 -91813 5994977 5082982 674811 26770 5784563 1.00000 0 0 29799 29799 103101 14996 88105 4402762 1646727 2756035 977462 129822 847640 146208 104645 41563 3763142 DAMAGE AND KEY DEPOSITS 7811 7811 X 3310309 148940 148940 3161369 261099 261099 3422468 3157063 0 3157063 261099 261099 3418162 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, 2019 AND 2018. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS INVESTMENT FEES 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 85 210024 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 150498 0 0 0 0 0 0 0 39050 0 189548 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 FISCAL OFFICER, 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.