2014-04-03T19:25:41-05:00 2013-05-31 BKD LLP 190 E Capitol Street Ste 500 Jackson MS 392012190 990 2012-06-01 640428676 Reformed Theological Seminary % E BRADLEY TISDALE REFO 6019231600 5422 Clinton Boulevard Suite Jackson MS 39209 E BRADLEY TISDALE 6019231600 2014-04-15 true Penny Wood CPA 6019486700 2014-04-15 2012 2015-11-30 17:44:51Z J Ligon Duncan III 5422 Clinton Blvd Jackson MS 39209 22819592 false X www.rts.edu X 1964 MS To serve the church by preparing its leaders through a program of graduate theological education. 18 17 350 0 69654 63949 8294760 6371951 8135859 8254972 1465203 2515504 564689 663666 18460511 17806093 3162597 3091862 0 0 9692814 10079651 0 0 1502691 5747522 6183564 18602933 19355077 -142422 -1548984 76146320 77813342 3122212 3313243 73024108 74500099 REFORMED THEOLOGICAL SEMINARY (RTS) EXISTS TO GLORIFY THE TRIUNE GOD AND TO SERVE HIS CHURCH IN ALL BRANCHES OF EVANGELICAL CHRISTIANITY, ESPECIALLY PRESBYTERIAN AND REFORMED CHURCHES, BY PROVIDING REFORMED GRADUATE THEOLOGICAL EDUCATION THAT IS GLOBALLY ACCESSIBLE. RTS EQUIPS ITS STUDENTS FOR MINISTRY, PRIMARILY THROUGH PASTORAL TRAINING, TO BE SERVANT LEADERS MARKED BY "A MIND FOR TRUTH, A HEART FOR GOD." false false 13863695 3091802 8254972 The seminary serves approximately 2,000 students through campuses in Jackson, MS, Orlando, FL, Charlotte, NC, Metro Washington, DC, Atlanta, GA, distance education programs, and extension sites in Memphis, TN, Houston, TX, and Sao Paulo, Brazil. Students are enrolled in the following academic degree programs: Master of Divinity, Masters of Arts, Masters of Arts (theological studies), Masters of Arts (biblical studies), Masters of Arts (Christian thought), Masters of Arts (Counseling), Masters of Arts (Marriage and Family Therapy and Counseling), Masters of Arts (religion), Masters of Theology, Doctor of Ministry, and Doctor of Philosophy. 13863695 true true false false false false false false false true true true false false true true false true true true true false true false false false false false true true false false false true false false true false true false false false true true true true false false true 164 0 true 350 true true true false false false false false false false false false X 18 17 true false false false false false false true true false true true true true true true true true true true false AK AZ CO DC KY MD MA MI NH NJ NY OH OK OR WA WI X E BRADLEY TISDALE 6019231600 5422 CLINTON BOULEVARD Jackson MS 39209 X BF Bracy 1.0 X John A Crawford 1.0 X Collie W Lehn 1.0 X David Lucas 1.0 X J Scott Redd Sr 1.0 X James L Moore 1.0 X Roderick Russ III 1.0 X Warren Williamson 1.0 X Donald G Breazeale 1.0 X Larry W Edwards 1.0 X Robert H MacLellan 1.0 X Richard L Ridgway 1.0 X James M Seneff Jr 1.0 X James M Baird 1.0 X Granville Dutton 1.0 X George R Fair 1.0 X William M Mounger II 1.0 X Paul A Hurst III 1.0 X E Bradley Tisdale 50.0 X 103661 0 18973 M Steve Wallace 50.0 X 110249 0 22194 Lynwood C Perez 50.0 X 117922 0 12459 Robert J Cara 50.0 X 104127 0 22750 Guy L Richardson 50.0 X 42488 0 97422 Michael A Milton 50.0 X 111704 0 88096 Andrew J Peterson 50.0 X 123406 0 32249 John Sowell 50.0 X 100437 0 33914 Donald W Sweeting 50.0 X 91370 0 74838 John S Redd Jr 50.0 X 88595 0 23411 Michael J Kruger 50.0 X 85924 0 20673 Mark D Futato 50.0 X 105076 0 22071 Robert C Cannada Jr 50.0 X 128630 0 23300 1313589 0 492350 9 true true false Colony Builders Inc 3089 Senna Dr MATTHEWS NC 28105 Building Renovation 322615 Securitas Secuirty Services USA 12672 Collections Center Dr CHICAGO IL 60893 Security 144676 IS360 714 Beech St FERNANDINA BEACH FL 32034 Phone System Upgrade 141814 Grant 1651 Old Meadow Road LLC PO Box 6121 HICKSVILLE NY 118026121 Leasing Office Space 134217 Atlantic Coast Communications Inc 854 Rivitt St GREENVILLE NC 27834 Multimedia Services 100818 6 29500 6342451 159398 6371951 TUITION AND FEES 611600 8254972 8254972 8254972 748467 69654 678813 0 0 1107656 438922 668734 0 668734 536081 132653 5157818 726575 4043442 73914 1114376 652661 1767037 1767037 0 0 330377 457221 -126844 -126844 COUNSELING INCOME 900099 78470 78470 FINANCE CHARGES 900099 27782 27782 COPY INCOME 900099 3890 3890 11634 11634 121776 17806093 8912829 69654 2451659 100 100 3086040 3086040 5722 5722 0 1712496 199533 978490 534473 0 6637403 5007016 1065814 564573 462759 330797 117398 14564 794711 634212 151088 9411 472282 311675 121822 38785 0 11103 5479 5624 56743 56743 0 0 175758 175758 714056 538408 174623 1025 173360 25156 148204 689941 326002 250907 113032 358336 236681 110813 10842 0 777236 676989 100247 563682 364729 138758 60195 0 93026 58681 29465 4880 0 38377 38377 1579093 1372444 206649 147779 118688 29091 SECURITY 120662 112578 8084 VISA PROCESSING 71931 68746 3185 SPECIAL EVENTS 61673 61673 UNRELATED BUSINESS TAXES 13111 13111 537697 458244 37401 42052 19355077 13863695 3988691 1502691 1872644 2430323 112321 117273 503142 312234 189516 237675 55000 52250 0 0 145630 164910 205954 154392 150755 112883 50026915 26798165 23746519 23228750 28581508 30447072 18636815 18490083 0 0 0 0 1946516 2065497 76146320 77813342 933256 1034527 0 0 715099 746836 0 0 0 0 0 0 0 0 0 0 1473857 1531880 3122212 3313243 X 44247059 44230993 27263892 28659626 1513157 1609480 73024108 74500099 76146320 77813342 X -1548984 3013825 11150 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46746077 1946639 -15480 15000 213180 3596 48445460 45527555 3267747 32737 18500 2060000 3462 46746077 45029609 1459964 69962 64250 964036 3694 45527555 46413625 1366294 89282 0 2835964 3628 45029609 42335381 10140561 5189 64000 6000000 3506 46413625 0.44000 0.56000 false true true 899813 6004275 6904088 4041363 24265219 14644589 13661993 8393 2098 6295 11645337 9565782 2079555 3162515 2585696 576819 23228750 INTEREST IN HEDGE FUNDS 11053107 C INTEREST IN INTL EQUITY FUND 3411845 C INTEREST IN DOMESTIC EQUITY FD 1750000 C INTEREST IN PRIVATE EQUITY FDS 1272184 C INTEREST IN INT'L BOND FUND 999047 C NON-PUBLIC ST-BCC BANKSHARES 3900 C 18490083 0 ANNUITY OBLIGATIONS 1476720 STUDENT HOUSING DEPOSITS 55160 1531880 X 18085880 3013825 -3256370 -242545 18328425 -522332 -522332 17806093 16609889 522332 522332 16087557 3267520 3267520 19355077 Part V, Line 4: The endowment funds are used to fund operating expenses, scholarships to students, and to make distributions to other 501(c)(3) organizations. Part X, Line 2: The consolidated financial statement effects of a tax position taken or expected to be taken are recognized in the consolidated financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the consolidated statements of activities. As of May 31, 2013 and 2012, the Seminary had no uncertain tax positions that qualify for recognition or disclosure in the consolidated financial statements. Part XI, Line 2D: Other Adjustments: Investment Management Fees: ($175,758) Change in Beneficial Interest in Trusts: $11,150 Reclass Scholarships: ($3,091,762) Part XI, Line 4B: Other Adjustments: Reclass Cost of Sales: ($457,221) Reclass Rental Expenses: ($65,111) Part XII, Line 2D: Other Adjustments: Reclass Cost of Sales: $457,221 Reclass Rental Expenses: $65,111 Part XII, Line 4B: Other Adjustments: Reclass Scholarships: $3,091,762 Investment Management Fees: $175,758 true true true true true true true false false false false false false false false true false true Part I, Line 3: The Seminary's nondiscrimination policy is communicated to the general community through its official website (www.rts.edu) and catalog. Part I, Line 6a: The Seminary received payments from the Department of Veterans Affairs (GI Bill and Post 9/11 Veteran Education Funding) and from the Department of Military Affairs (Florida National Guard's Educational Dollars For Duty) for tuition and fees related to students that qualify for those benefits. true Central America and the Caribbean Investments 2239782 Europe (Including Iceland and Greenland) Grantmaking Scholarships 1452 North America Grantmaking Scholarships 968 South America Grantmaking Scholarships 2003 East Asia and the Pacific Grantmaking Scholarships 498 Russia and the Newly Independent States Grantmaking Scholarships 801 South America 1 1 Program Services Instructional Costs 16509 Europe (Including Iceland and Greenland) Program Services Instructional Costs 4482 1 1 1 1 2266495 2266495 Scholarships Europe (Including Iceland and Greenland) 2 1452 Scholarships FMV Scholarships North America 1 968 Scholarships FMV Scholarships South America 1 2003 Scholarships FMV Scholarships East Asia and the Pacific 1 498 Scholarships FMV Scholarships Russia and the Newly Independent States 1 801 Scholarships FMV true false true true false false Part I, Line 2: Records are maintained showing scholarship awards to specific individuals who live in regions outside of the United States. Part I, Line 3: The Seminary owns an interest in 2514 Multi-Strategy Fund, a hedge fund domiciled in the Cayman Islands. The book value of this investment as of 5/31/2013 was $2,239,782. Part IV, Line 1: The Seminary indirectly transferred property to foreign corporations through its investment in domestic partnerships. The amount of indirect transfers of property were below the reporting threshold requiring the filing of Form 926. Part IV, Line 3: The filing requirements of Form 5471 were not met by the Seminary during the fiscal year ended 5/31/13 for its ownership in a foreign corporation. Therefore, Form 5471 was not filed by the Seminary. Part IV, Line 4: The Seminary was an indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year. As a partner that has invested in a U.S. partnership that has made the QEF election and filed Form 8621, no additional Form 8621 reporting is required by the Seminary. true Scholarships 1532 3086040 FMV Scholarships Part I, Line 2: Senior management recommends to the Executive Committee grants to other organizations for approval. Part III: Scholarship assistance is approved and monitored for individuals through campus scholarship committees. X X X false true X X false false false false false false false false false Robert C Cannada Jr 80376 0 254 0 48000 0 8513 0 14787 0 151930 0 Michael A Milton 106400 0 250 0 5054 0 20869 0 67227 0 199800 0 Andrew J Peterson 123152 0 254 0 0 0 13067 0 19182 0 155655 0 Donald W Sweeting 91130 0 240 0 0 0 11403 0 63435 0 166208 0 Part I, Line 1a: Travel for companions - The Seminary encourages and reimburses officers of the seminary to travel with their spouses when the spouse has a legitimate business purpose. The circumstance occurs on an infrequent basis. Housing Allowances - Housing allowances are annually reviewed and approved by the Executive Committee of the seminary and are included in the individual's compensation. Personal Services - The seminary has paid for childcare expenses of an officer while the officer and his wife were traveling on official seminary business. The circumstance occurs on an infrequent basis. Part I, Line 1b: While the seminary has written policies concerning "Travel for companions" and "Housing allowances" it does not have a written policy for "Personal Services", as this circumstance occurs very infrequently. M Steve Wallace Chief of Staff See Part V X 55000 52250 false true true 52250 John S Redd Jr See Part V 128462 See Part V false Part II, Line (1), Column (c): Purpose of loan: Assistance with relocation of residence for the benefit of the organization. Part IV, Line (1), Column (b): Relationship between interested person and the organization: Son of J. Scott Redd, Sr., board member Part IV, Line (1), Column (d): Description of transaction: Compensation was paid to a family member of a board member in excess of $10,000. X 9391 Appraisal X 10 150007 FMV at time of gift 1 false true true Part I, Line 32b: The Seminary uses third-party realtors to market and sell donated land. Page 6, Part VI, Section A, Line 2: Trustee, J. Scott Redd, Sr., and Officer, John S. Redd, Jr., have a family relationship. Page 6, Part VI, Section B, Line 11b: A meeting is held by the audit/finance committee to allow committee members to discuss the return and ask any questions. After discussion/revisions have occurred, the returns are approved to be filed. The Form 990 is also provided to all board members for review. Page 6, Part VI, Section B, Line 12c: The full board of trustees and officers of the seminary on an annual basis discloses related party transactions that could give rise to conflicts. Any transactions that are disclosed are reported in the minutes of the board meetings. Page 6, Part VI, Section B, Line 15 a&b: The Executive Committee reviews and approves the total compensation of all officers of the seminary on an annual basis. Total average compensation from annual surveys of US schools that are members of the Association of Theological Schools is used to determine the reasonableness of officer compensation. Page 6, Part VI, Section C, Line 19: Reformed Theological Seminary makes its financial statements, governing documents (articles of incorporation and bylaws),and conflict of interest policy available to the public upon request. Page 7, Part VII, Section A: Officers Michael Milton, Donald Sweeting, and Guy Richardson are ministerial employees exempt from FICA tax. Therefore, Box 5 of their Forms W-2 are blank, and Box 1 has been used in Part VII as reportable compensation as required by the instructions to Form 990. Compensation an employee contributes to their 401(k) plan is not included on Form W-2, Box 1, but is included on Form W-2, Box 5. For the above ministerial employees exempt from FICA tax, employee 401(k) contributions are reported on Form 990, Part VII, Column (f) or Schedule J, Part II, Column (c), if applicable. For those employees not exempt from FICA taxes, employee-paid 401(k) contributions are included in reportable compensation reported on Form 990, Part VII, Column (d) and Schedule J, Part II, Column (b)(i), if applicable. The above individuals exempt from FICA tax also received nontaxable housing allowances which are included on Form 990, Part VII, Column (f) and Schedule J, Part II, Column (d), if applicable, versus being included in Part VII, Column (d) and Schedule J, Part II, Column (B)(iii) for those employees that are not exempt from FICA tax. Page 12, Part XI, Line 9: Change in Beneficial interests in trusts $11,150 Reformed Properties LLC 1231 Reformation Drive Oviedo FL 32765 270679756 Rental Real FL 38165 881964 NA RTS Foundation Inc 5422 Clinton Blvd Jackson MS 39209 640918136 Fundraising MS 501(c)(3) 11a Type I NA true REFORMED THEOLOGICAL SEMINARY OF FLORIDA 1231 REFORMATION DRIVE OVIEDO FL 32765 421647628 THEOL. ED. FL 501(C)(3) 11A TYPE I NA true false false true false false false false false false false false false true true true false false false