2017-10-19T12:07:33-05:00 2017-06-30 561220683 POTTER & COMPANY PA 434 COPPERFIELD BLVD NE STE A CONCORD NC 28025 990 2016-07-01 562231069 HOOD THEOLOGICAL SEMINARY HOOD 7046366454 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 DR VERGEL LATTIMORE PRESIDENT 7046366454 2017-10-05 1 SAMUEL M LEDER CPA P00485633 7047868189 2016 2022-09-23 18:48:47Z DR VERGEL LATTIMORE 1810 LUTHERAN SYNOD DRIVE SALISBURY NC 28144 5167004 0 X WWW.HOODSEMINARY.EDU X EDUCATIONAL INSTITUTION 2001 NC EDUCATIONAL INSTITUTION 18 18 73 0 -9163 0 1222076 1074858 1584651 1418273 193383 272527 15432 1585 3015542 2767243 99471 81730 0 0 1897117 1969468 0 23000 464734 990442 980529 2987030 3054727 28512 -287484 13885283 13829456 388501 239667 13496782 13589789 EDUCATIONAL INSTITUTION 0 0 1113223 81730 1443185 THE ORGANIZATION IS AN INSTITUTION OF HIGHER EDUCATION AND PROVIDES INSTRUCTION, SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE 1113223 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 3 0 73 1 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 X DR CURTIS T WALKER 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 TRUSTEE 2.00 X 0 0 0 BISHOP JOSEPH JOHNSON TRUSTEE EMERITUS 2.00 X 0 0 0 DR DOUGLAS L MAVEN TRUSTEE 2.00 X 0 0 0 DR SARA COOK TRUSTEE 2.00 X 0 0 0 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 TRUSTEE 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 MIHAEL 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 DR VERGEL L LATTIMORE PRESIDENT 60.00 X 149447 0 37662 149447 0 37662 1 0 1 0 0 8210 27204 1039444 28036 1074858 TUITION & FEES 611600 1314959 1314959 HOUSING FEES 611710 76438 76438 MEAL PLAN FEES 611710 26876 26876 1418273 205773 205773 24762 39127 -14365 -14365 -5202 -9163 2427388 2360634 66754 66754 66754 OTHER INCOME 611710 15950 15950 15950 2767243 1429021 -9163 272527 X 81730 81730 1474163 644253 606332 223578 72118 21099 43733 7286 330649 99634 204307 26708 92538 38924 36541 17073 10000 10000 7600 7600 51519 51519 23000 23000 44817 44817 88641 29143 38383 21115 25983 1139 24844 33293 561 6310 26422 83486 38212 41663 3611 124685 36376 83873 4436 68732 1146 30543 37043 1332 1032 300 189952 77880 102574 9498 29602 12137 15985 1480 SUPPLIES & MINOR EQUIPM 58182 8835 28974 20373 DUES & SUBCRIPTIONS 42708 42708 FOOD SERVICE 40580 40580 MISCELLANEOUS 36913 11415 24632 866 42504 11878 23525 7101 3054727 1113223 1476770 464734 2898915 2431202 72793 55793 31956 26880 33629 37143 5527287 1559573 4157665 3967714 6677828 7301112 12497 9612 13885283 13829456 26099 36703 355641 195737 6761 7227 388501 239667 X 6559100 6018819 942705 1135710 5994977 6435260 13496782 13589789 13885283 13829456 -287484 380491 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5994977 94040 346243 6435260 5784563 302227 -91813 5994977 5082982 674811 26770 5784563 4374798 241851 466333 5082982 3851513 297773 225512 4374798 1.00000 0 0 29799 29799 103101 7498 95603 4259073 694451 3564622 1102314 857624 244690 33000 33000 3967714 DAMAGE AND KEY DEPOSITS 7227 7227 X 3060314 380491 39127 419618 2640696 126547 126547 2767243 2967307 39127 39127 2928180 126547 126547 3054727 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, 2017 AND 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS INVESTMENT FEES PART XII, LINE 2D - OTHER ADJUSTMENTS: UTILITIES AND MAINTENANCE ALLOCATED TO RENTAL INCOME 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. X X X 1 GENERIS PARTNERS LLC 5256 PEACHTREE ROAD SUITE 150 ATLANTA GA 30341 CONSTRUCT AND IMPLEMENT GENEROSITY ACTION PLAN 0 0 23000 -23000 23000 -23000 1 SCHOLARSHIPS AND FINANCIAL AID 36 81730 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 137015 0 0 0 12432 0 27653 0 10009 0 187109 0 0 0 PART I, LINE 1A DR. LATTIMORE IS AN ORDAINED MINISTER. HOUSING ALLOWANCE PROVIDED AS NON-TAXABLE COMPENSATION. X 1 20182 FMV AT DONATION DATE X MISCELLANEOUS 3 7854 FMV ESTABLISHED BY D 0 1 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 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 IX, LINE 24E BAD DEBT EXPENSE: MANAGEMENT AND GENERAL EXPENSES 22,856. TOTAL EXPENSES 22,856. TELEPHONE: PROGRAM SERVICE EXPENSES 6,996. MANAGEMENT AND GENERAL EXPENSES 9,214. FUNDRAISING EXPENSES 853. TOTAL EXPENSES 17,063. CONSULTING/HONORARIA: MANAGEMENT AND GENERAL EXPENSES 3,000. FUNDRAISING EXPENSES 6,248. TOTAL EXPENSES 9,248. BANK CHARGES: MANAGEMENT AND GENERAL EXPENSES 7,560. TOTAL EXPENSES 7,560. PRINTING: PROGRAM SERVICE EXPENSES 1,373. MANAGEMENT AND GENERAL EXPENSES 5,208. TOTAL EXPENSES 6,581. STAFF TRAINING: MANAGEMENT AND GENERAL EXPENSES 4,016. TOTAL EXPENSES 4,016. TRUSTEES: MANAGEMENT AND GENERAL EXPENSES 3,965. TOTAL EXPENSES 3,965. RECRUITMENT: MANAGEMENT AND GENERAL EXPENSES 3,884. TOTAL EXPENSES 3,884. BOOK PURCHASES: PROGRAM SERVICE EXPENSES 3,497. TOTAL EXPENSES 3,497. POSTAGE: PROGRAM SERVICE EXPENSES 12. MANAGEMENT AND GENERAL EXPENSES 2,949. TOTAL EXPENSES 2,961. UTILITIES & MAINTENANCE ALLOCATED TO RENTAL: MANAGEMENT AND GENERAL EXPENSES -39,127. TOTAL EXPENSES -39,127. 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.