2016-05-12T12:03:49-05:00 2015-06-30 271728945 PKF O'CONNOR DAVIES LLP 15 ESSEX RD PARAMUS NJ 076521412 990 2014-07-01 131624238 UNION THEOLOGICAL SEMINARY UNIO 2126627100 3041 BROADWAY NEW YORK NY 10027 SERENE JONES PRESIDENT 2126627100 2016-05-12 1 BRIAN M FLYNN P00739850 2017129800 2014 2016-08-17 19:52:53Z SERENE JONES 3041 BROADWAY NEW YORK NY 10027 30378267 0 X WWW.UTSNYC.EDU X 1836 NY TO PROVIDE THEOLOGICAL EDUCATION. 22 21 314 60 922972 -200729 3792255 10845877 4273459 10961654 1804591 2237292 6200543 132132 16070848 24176955 3185602 3516746 0 0 10187081 10092913 0 0 916089 8500023 9862496 21872706 23472155 -5801858 704800 129258904 131061773 17081825 17852396 112177079 113209377 X THE MISSION OF UNION THEOLOGICAL SEMINARY, AN INDEPENDENT, MULTI-DENOMINATIONAL SEMINARY IN THE CITY OF NEW YORK, DERIVES FROM A CHRISTIAN HERITAGE THAT IS AT ONCE PROGRESSIVE AND EVANGELISTIC: TO EDUCATE LEADERS FOR MINISTRY IN CHURCHES AND RELATED ORGANIZATIONS, TO EXTEND THE WORK OF SOCIAL JUSTICE AND TO ENRICH THE ACADEMY THROUGH TEACHING AND RESEARCH. 0 0 15997635 3516746 10090020 PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 300 FULL-TIME AND PART-TIME STUDENTS 15997635 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 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 84 0 314 1 1 1 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X EUGENE MEW 2122801402 3041 BROADWAY NEW YORK NY 10027 THE REV DR SERENE JONES PRESIDENT 40.00 X X 207581 0 166506 WOLCOTT B DUNHAM JR CHAIR 1.50 X X 0 0 0 MICHELE R CAMERON TRUSTEE THROUGH 2/10/15 1.50 X 0 0 0 WILLIAM CANDELARIA TRUSTEE 1.50 X 0 0 0 ERIC V EVE TRUSTEE 1.50 X 0 0 0 CYNTHIA A FIELD TRUSTEE 1.50 X 0 0 0 MILLICENT FORTUNOFF TRUSTEE 1.50 X 0 0 0 BLAKE T FRANKLIN TRUSTEE THROUGH 6/09/15 1.50 X 0 0 0 FAITH E GAY TRUSTEE 1.50 X 0 0 0 CATHERINE M GEORGE TRUSTEE 1.50 X 0 0 0 THE REV AMY GOPP TRUSTEE 1.50 X 0 0 0 THE REV DR DERRICK HARKINS TRUSTEE, THROUGH 6/09/15 1.50 X 0 0 0 THE HON WILLIAM H HUDNUT III TRUSTEE 1.50 X 0 0 0 THE REV DR JAMES HUDNUT-BEUMLER TRUSTEE 1.50 X 0 0 0 KEVIN B JENNINGS TRUSTEE THROUGH 6/09/15 1.50 X 0 0 0 MICHAEL J JOHNSTON TRUSTEE 1.50 X 0 0 0 WILLIAM LEHR JR TRUSTEE 1.50 X 0 0 0 DR TIMOTHY LIGHT TRUSTEE 1.50 X 0 0 0 ROBERT A MILANESE TRUSTEE 1.50 X 0 0 0 CALVIN M MEW TRUSTEE 1.50 X 0 0 0 JUDITH D MOYERS TRUSTEE 1.50 X 0 0 0 CHANG K PARK TRUSTEE 1.50 X 0 0 0 WILLIAM T REILAND TRUSTEE 1.50 X 0 0 0 THE REV PETERO AN SABUNE TRUSTEE, THROUGH 6/09/15 1.50 X 0 0 0 JAMES SLIGAR TRUSTEE 1.50 X 0 0 0 MARIAN MARCUS WARDEN TRUSTEE 1.50 X 0 0 0 THE REV DR RAPHAEL G WARNOCK TRUSTEE 1.50 X 0 0 0 THE REV FREDERICK DAVIE SECRETARY 40.00 X 219958 0 22865 RICHARD MADONNA TREASURER 40.00 X 214694 0 24770 EUGENE MEW CONTROLLER 40.00 X 142613 0 17114 MARY BOYS VP ACADEMIC AFFAIRS 40.00 X 141299 0 112492 JAMES CONE PROFESSOR 40.00 X 129455 0 108961 CORNELL WEST PROFESSOR 40.00 X 141537 0 111263 MICHAEL MALONEY DEPUTY VP OF BUILDINGS AND 40.00 X 119784 0 15476 1316921 0 579447 10 0 1 0 NEWMARK GRUBB KNIGHT FRANK 125 PARK AVE NEW YORK NY 10017 FACILITIES STAFFING 1824175 COLUMBIA UNIVERSITY LIBRARIES 535 WEST 114TH STREET NEW YORK NY 10027 LIBRARIES/INFORMATION SERVICES 391059 RENDEZVOUS CONSULTING GROUP LLC 1414 NORTH CAROLINA AVE NE WASHINGTON DC 20002 CONSULTING SERVICE 253478 COMMUNITY COUNSELING SERVICE 461 5TH AVE 3 NEW YORK NY 10017 CONSULTING SERVICE 225234 BROADWAY 104 LLC 2723 BROADWAY NEW YORK NY 10025 CATERING/FOOD SERVICE 160939 16 64967 10780910 935800 10845877 RENTAL INCOME 532000 6445040 5522068 922972 TUITION AND FEES 611710 4501643 4501643 AUXILIARY ENTERPRISES SALES & SER 532000 14971 14971 10961654 888607 51338 837269 7549997 6201312 1348685 1348685 1348685 REFUNDS 900099 57888 57888 EVP FINANCE/ADMIN FEES 900099 34741 34741 USQR INCOME - SUBSCRIPTION 900099 12870 12870 26633 26633 132132 24176955 10090020 922972 2318086 3516746 3516746 866223 511071 294516 60636 6726939 3968894 2287159 470886 504551 298504 172019 34028 1603767 948681 546697 108389 391433 231496 133404 26533 60000 60000 95346 3816 91530 110951 110951 125853 125853 1990698 726880 1232916 30902 37552 11763 25789 1208081 764623 367031 76427 125366 38443 85297 1626 1018053 930365 85618 2070 74121 10634 55861 7626 377191 131654 215068 30469 642073 642073 1761280 1696641 63774 865 401034 391728 9306 FACILITIES AND MAINTENA 1017320 888549 125018 3753 HOSPITALITY 289002 99033 165636 24333 HONORARIUMS 150064 30438 119126 500 BAD DEBT 126768 42429 84339 251743 113174 101523 37046 23472155 15997635 6558431 916089 700 700 3012213 3974996 1592678 6264456 330902 174364 157637 162136 56490968 41695241 16041867 14795727 51951586 50666377 54573666 53449826 1500978 1495849 96677 77342 129258904 131061773 1460994 1883772 69672 75237 89802 90950 11717351 11505226 1500000 2000000 2244006 2297211 17081825 17852396 X 47467806 42482667 18115416 22680846 46593857 48045864 112177079 113209377 129258904 131061773 X 704800 504713 -177215 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 106549184 1354070 2690658 5528706 105065206 94281210 833752 16929585 5495363 106549184 84626367 1271807 13020766 4637730 94281210 86515547 3455200 -970522 4373858 84626367 77196953 1114603 14456447 4449811 88318192 0.46470 0.44530 0.09000 0 0 1928226 1928226 49417692 37352216 12065476 4208181 3900118 308063 936869 442907 493962 14795727 COMMINGLED TRUST FUND 39176021 F ALTERNATIVE INVESTMENTS 8515488 F PRIVATE PARTNERSHIP INVESTMENTS 3837739 C ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 1662880 C BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 257698 C 53449826 POSTRETIREMENT BENEFITS LIABILITIES 648623 GIFT ANNUITY PAYABLE 969685 REFUNDABLE ADVANCES - US GOVERNMENT GRANTS 678903 2297211 X 20987707 504713 71398 576111 20411596 3765359 3765359 24176955 19955409 0 19955409 3516746 3516746 23472155 PART IV, LINE 2B: THE SEMINARY HOLDS SECURITY DEPOSITS FOR STUDENTS LIVING IN HOUSING RESIDENCES. WHEN THEY VACATE, IT WILL BE RETURNED TO THE STUDENTS. PART V, LINE 4: TO PROVIDE LONG TERM SUPPORT FOR THE ORGANIZATION'S PROGRAM SERVICES. PART X, LINE 2: THE SEMINARY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SEMINARY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SEMINARY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE PERIODS PRIOR TO JUNE 30, 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 71,398. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 3,516,746. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 29,507. WRITE OFF OF PLEDGES 219,106. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID NETTED AGAINST REVENUE 3,516,746. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY STATEMENT ON ITS WEBSITE, IN ALL HANDBOOKS AND LITERATURE DISTRIBUTED, AND ON ALL GENERAL NEWSPAPER ADVERTISEMENT. THE ADMISSIONS BROCHURE DISCLOSES THAT IT SERVES STUDENTS OF SIGNIFICANT FINANCIAL NEED AND DIVERSE CULTURES. SCHEDULE E, PART I, LINE 6 UNION THEOLOGICAL SEMINARY RECEIVED GRANTS FOR STUDENT FINANCIAL ASSISTANCE FROM THE U.S. DEPARTMENT OF EDUCATION. THESE ARE FOR STUDENT LOANS UNDER THE FEDERAL FAMILY EDUCATION LOAN PROGRAM, FEDERAL PERKINS LOAN PROGRAM AND THE FEDERAL WORK STUDY PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 8515488 0 0 0 0 0 0 8515488 0 8515488 0 0 1 0 0 0 SCHEDULE F, PART IV, LINE 3 THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 5471 BECAUSE IT DOES NOT MEET THE APPLICABLE FILING OWNERSHIP REQUIREMENT. 1 GRANTS, SCHOLARSHIPS AND FELLOWSHIPS FOR TUITION 172 3516746 PART I, LINE 2: THE FINANCIAL AID OFFICE MAINTAINS THE RECORDS RELATED TO THE GRANTS APPLICATION. THE PROCEDURE IS AS FOLLOWS: THE STUDENTS APPLY ANNUALLY FOR GRANTS BASED ON THEIR FAMILIES' FINANCIAL CIRCUMSTANCES. EACH APPLICATION IS THEN REVIEWED TO DETERMINE THE AMOUNT OF GRANT THAT IS NEEDED. THE GRANTS ARE PROVIDED FROM APPROPRIATE SOURCES AND APPLIED TO EACH STUDENT'S BILL FOR TUITION, FEES, ROOM, BOARD AND OTHER CHARGES. X 1 1 X X X 0 0 0 0 0 0 0 0 0 THE REV DR SERENE JONES PRESIDENT 207581 0 0 0 0 0 28119 0 138387 0 374087 0 0 0 THE REV FREDERICK DAVIE SECRETARY 219958 0 0 0 0 0 22865 0 0 0 242823 0 0 0 RICHARD MADONNA TREASURER 214694 0 0 0 0 0 24770 0 0 0 239464 0 0 0 EUGENE MEW CONTROLLER 142613 0 0 0 0 0 17114 0 0 0 159727 0 0 0 MARY BOYS VP ACADEMIC AFFAIRS 141299 0 0 0 0 0 18293 0 94199 0 253791 0 0 0 JAMES CONE PROFESSOR 129455 0 0 0 0 0 22658 0 86303 0 238416 0 0 0 CORNELL WEST PROFESSOR 141537 0 0 0 0 0 16905 0 94358 0 252800 0 0 0 PART I, LINE 1A "AS PART OF ITS HISTORIC MISSION OF NURTURING SPIRITUAL DEVELOPMENT IN COMMUNITY FOR MINISTRY, UNION THEOLOGICAL SEMINARY REQUIRES ITS FACULTY TO RESIDE AT THE SEMINARY IN ORDER TO BE READILY AVAILABLE FOR STUDENTS AND FOR SEMINARY EVENTS. THIS HOUSING IS USED TO MEET WITH STUDENTS, HOLD CLASSES AND FOR OTHER SEMINARY PURPOSES. THE VALUE OF THE HOUSING HAS BEEN INCLUDED WHERE REQUIRED ON SCHEDULE J AS A NONTAXABLE BENEFIT. BECAUSE THE QUESTION ASKS IF THERE IS HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE, THE SEMINARY HAS NOT CHECKED THE BOX; THE SEMINARY CONSIDERS THAT THIS HOUSING IS FOR INSTITUTIONAL USE, NOT FOR PERSONAL USE." X 13 935800 FMV OF SECURITIES 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B) OF SCHEDULE M. FORM 990, PART VI, SECTION B, LINE 11 UNION THEOLOGICAL SEMINARY HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS DISTRIBUTED ELECTRONICALLY TO THE MEMBERS OF THE AUDIT COMMITTEE FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY HAS DELEGATED ITS OVERSIGHT ROLE TO THE AUDIT COMMITTEE. ANY COMMENTS MADE BY THE AUDIT COMMITTEE ARE PRESENTED TO MANAGEMENT. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING. THE FORM 990 IS EMAILED TO ALL BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C UNION THEOLOGICAL SEMINARY CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IS MONITORED AND ENFORCED ANNUALLY. THE BOARD MANDATES THAT ALL MEMBERS OF THE GOVERNING BODY REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY AT THE FIRST BOARD MEETING OF THE FISCAL YEAR. THE POLICY IS MONITORED BY THE EMPLOYEE'S IMMEDIATE SUPERVISOR IN CONJUNCTION WITH THE DIRECTOR, HR AND IS OVERSEEN BY THE AUDIT COMMITTEE. IF A CONFLICT WERE TO ARISE, IT MUST BE REPORTED TO SUPERVISOR AND VP FINANCE. IF AN OFFICER OR A TRUSTEE HAD A CONFLICT OF INTEREST, THEY WOULD BE EXCUSED FROM PARTICIPATING IN THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT AND KEY ADMINISTRATORS AT UNION THEOLOGICAL SEMINARY ARE DETERMINED BY UNION'S PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES, AFTER REVIEWING GUIDELINES AND COMPARABLE DATA IN THE UTS HUMAN RESOURCES OFFICE. COMPARABLE DATA INCLUDES DATA FROM THE ASSOCIATION OF THEOLOGICAL SCHOOLS AND SURVEY OF NEIGHBORING SCHOOLS. THE DETERMINATIONS AND RESULTS OF THE COMPENSATION PROCESS ARE RECORDED ON THE MINUTES OF THE BOARD MEETINGS. THIS PROCESS WAS LAST UNDERTAKEN IN FY14. FORM 990, PART VI, SECTION C, LINE 19 UNION THEOLOGICAL SEMINARY MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG. IN ADDITION, UNION THEOLOGICAL SEMINARY ALSO MAKES THEIR FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST AT 3041 BROADWAY, NEW YORK, NY 10027. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -29,507. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 71,398. WRITE OFF OF PLEDGES -219,106. FORM 990, PART XI, LINE 2C: UNION THEOLOGICAL SEMINARY HAS AN AUDIT COMMITTEE THAT OVERSEES THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS FOR SELECTING AN INDEPENDENT ACCOUNTANT AND ESTABLISHING A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEAR.