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Nonprofiteer
← UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION

Form 990 for tax year 2023

Filed by UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION.

Totals

Total revenue
$4,000,534
Total expenses
$4,479,589
Contributions and grants received
$225,236
Grants paid
$4,205,056
Program service revenue
$0
Investment income
$3,765,637
Other revenue
$9,661
Total assets, end of year
$78,361,642
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$78,361,642
Program services expenses (Part IX)
$4,479,589
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,479,589

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $225,236

  • 3 · Investment income

    total $1,563,691 · excluded $1,563,691

  • 7a · Gross sales of assets other than inventory

    securities $5,121,059

  • 7b · Less cost or other basis and sales expenses

    securities $2,919,113

  • 7c · Gain or loss

    securities $2,201,946

  • 7d · Net gain or loss

    total $2,201,946 · excluded $2,201,946

  • 11a · Other revenue: LEGAL CLAIM SETTLEMENT

    total $9,661 · excluded $9,661

  • 11e · Other revenue, total

    $9,661

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,205,056 · program services $4,205,056

  • 11f · Fees: investment management

    total $274,533 · program services $274,533

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $118,660 · end of year $118,660

  • 11 · Investments: publicly traded securities

    beginning of year $49,335,867 · end of year $51,406,052

  • 12 · Investments: other securities

    beginning of year $16,512,127 · end of year $17,860,989

  • 15 · Other assets

    beginning of year $8,966,281 · end of year $8,975,941

  • 27 · Net assets without donor restrictions

    beginning of year $3,915,150 · end of year $6,505,051

  • 28 · Net assets with donor restrictions

    beginning of year $71,017,785 · end of year $71,856,591

Mission and programs · 2023

Mission

TO INVEST THE FUNDS RAISED BY THE UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION AS AN ENDOWMENT FUND FOR THE UNITED LUTHERAN SEMINARY, AND TO HOLD TITLE TO, GROW, AND MANAGE PROPERTY THAT IS DONATED TO THE ENDOWMENT FUND OF THE UNITED LUTHERAN SEMINARY.

Activities or mission (Part I)

GROW, HOLD, AND MANAGE INVESTMENTS OF THE UNITED LUTHERAN SEMINARY.

  • THE ORGANIZATION HOLDS TITLE TO, INVESTS, MANAGES, AND GROWS FUNDS THAT ARE DONATED TO THE ENDOWMENT FUND OF THE UNITED LUTHERAN SEMINARY.

    Expenses $4,479,589 · Grants $4,205,056

As filed on the 2023 return.

Listed in Part VII

  • The Rev Dr Robert G Erwin

    PRESIDENT

    Total calculated
    $278,840
    From this org
    $0
    From related orgs
    $240,260
    Other
    $38,580
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,260 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,111 related
    Nontaxable benefits
    $0 + $10,469 related
    Filer's total
    $0 + $278,840 related

  • Emried D Cole

    TRUSTEE

    Total calculated
    $1,800
    From this org
    $0
    From related orgs
    $1,800
    Other
    $0
    Hours/week
    1 + 1 related

  • David A Russell

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Fred Risser

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Bruce D George

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Karen A Albrecht

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Leslie D Hobbs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • R Brandon James

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • The Rev Roland C Hobbs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Buff Carlson

    TREASURER (UNTIL 09/2023)

    Total calculated
    $107,492
    From this org
    $0
    From related orgs
    $98,821
    Other
    $8,671
    Hours/week
    1 + 40 related

  • Conor Brooks

    VICE PRESIDENT

    Total calculated
    $124,337
    From this org
    $0
    From related orgs
    $106,853
    Other
    $17,484
    Hours/week
    1 + 40 related

  • Lisa Dubay

    SECRETARY

    Total calculated
    $102,789
    From this org
    $0
    From related orgs
    $83,180
    Other
    $19,609
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
OFFICERS ARE PAID BY A RELATED ORGANIZATION. COMPENSATION FOR THE PRESIDENT IS SET AND APPROVED BY THE BOARD OF THE RELATED ORGANIZATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
6 March 2025
IRS schema version
2023v6.0
Source object
202510669349300406

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