Totals
- Total revenue
- $1,943,083
- Total expenses
- $1,433,493
- Contributions and grants received
- $227,355
- Grants paid
- $1,221,907
- Program service revenue
- $0
- Investment income
- $1,715,728
- Other revenue
- $0
- Total assets, end of year
- $40,273,200
- Total liabilities, end of year
- $1,286,735
- Net assets or fund balances, end of year
- $38,986,465
- Program services expenses (Part IX)
- $1,221,907
- Management and general expenses
- $211,586
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,221,907
Program services were 85.2% 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.
-
1f · All other contributions, gifts and grants
$227,355
-
3 · Investment income
total $236,284 · unrelated business -$3,469 · excluded $239,753
-
7a · Gross sales of assets other than inventory
securities $20,960,045
-
7b · Less cost or other basis and sales expenses
securities $19,480,601
-
7c · Gain or loss
securities $1,479,444
-
7d · Net gain or loss
total $1,479,444 · excluded $1,479,444
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $328,992 · program services $328,992
-
2 · Grants to domestic individuals
total $892,915 · program services $892,915
-
24a · Other expenses: ENDOWMENT & ADMIN EXP.
total $211,586 · management and general $211,586
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $1,758,041 · end of year $1,983,323
-
11 · Investments: publicly traded securities
beginning of year $13,774,226 · end of year $8,814,895
-
12 · Investments: other securities
beginning of year $17,363,733 · end of year $24,612,213
-
15 · Other assets
beginning of year $4,577,007 · end of year $4,862,769
-
21 · Escrow or custodial account liability
beginning of year $171,423 · end of year $187,687
-
25 · Other liabilities
beginning of year $1,094,703 · end of year $1,099,048
-
27 · Net assets without donor restrictions
beginning of year $3,558,611 · end of year $3,698,573
-
28 · Net assets with donor restrictions
beginning of year $32,648,270 · end of year $35,287,892
Mission and programs · 2024
Mission
TO ASSIST LUTHER SEMINARY IN ITS GENERAL FUNDRAISING ACTIVITIES AND SOLICITING AND ACCEPTING THE CONTRIBUTIONS (INCLUDING ENDOWMENTS, DEFERRED GIFTS, OPERATING GIFTS, ETC.) FOR THE BENEFIT OF THE SEMINARY.
Activities or mission (Part I)
TO ASSIST LUTHER SEMINARY IN ITS GENERAL FUNDRAISING ACTIVITIES FOR THE BENEFIT OF THE SEMINARY.
-
EDUCATIONAL PROGRAM SUPPORT:THE FOUNDATION GAVE $328,992 TO LUTHER SEMINARY TO SUPPORT THE EXPENSES OF A CHAIRED POSITION WITHIN THE SEMINARY AND OTHER EDUCATIONAL SUPPORT. STUDENT AID:THE FOUNDATION GAVE $892,915 TO LUTHER SEMINARY FOR THE PURPOSE OF FINANCIAL ASSISTANCE TO SEMINARY STUDENTS.
Expenses $1,221,907 · Grants $1,221,907
As filed on the 2024 return.
Listed in Part VII
-
David RutlenDAVID RUTLEN
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Ladd BjornebyLADD BJORNEBY
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Dean GrunerDEAN GRUNER
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Robin SteinkeROBIN STEINKE
PRESIDENT
- Total calculated
- $300,502
- From this org
- $0
- From related orgs
- $139,091
- Other
- $161,411
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $139,091 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $30,000 related
- Nontaxable benefits
- $0 + $131,411 related
- Filer's total
- $0 + $300,502 related
-
Heidi DroegmuellerHEIDI DROEGMUELLER
EXECUTIVE DIRECTOR
- Total calculated
- $249,488
- From this org
- $0
- From related orgs
- $196,167
- Other
- $53,321
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $196,167 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $19,968 related
- Nontaxable benefits
- $0 + $33,353 related
- Filer's total
- $0 + $249,488 related
-
John CoskranJOHN COSKRAN
CFO
- Total calculated
- $0
- Hours/week
- 0.8 + 16 related
-
Matthew SchutzMATTHEW SCHUTZ
TREASURER/ASSOC. VP & CONTROLLER
- Total calculated
- $182,754
- From this org
- $0
- From related orgs
- $147,818
- Other
- $34,936
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $147,818 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $14,782 related
- Nontaxable benefits
- $0 + $20,154 related
- Filer's total
- $0 + $182,754 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
- ALL COMPENSATION IS PAID BY LUTHER SEMINARY, A RELATED ORGANIZATION. LUTHER SEMINARY USED THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE PRESIDENT: 1. COMPENSATION COMMITTEE 2. WRITTEN EMPLOYMENT CONTRACT 3. COMPENSATION SURVEY OR STUDY 4. APPROVAL BY THE PRESIDENTIAL SUPPORT COMMITTEE (COMPENSATION COMMITTEE) ALL OFFICERS' COMPENSATION IS REVIEWED BY THE PRESIDENTIAL SUPPORT COMMITTEE OF THE BOARD. COMPENSATION DATA FROM THE ASSOCIATION OF THEOLOGICAL SCHOOL (ATS), FOR LIKE-SIZED INSTITUTIONS IS UTILIZED IN THIS PROCESS. THE PROCESS INCLUDED REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION.
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
-
$328,992
SEMINARY OPERATIONS
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.
-
501(C)(3) · POST-GRADUATE EDUCATION · MN
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER UNITRUST (9)
T · CHARITABLE TRUST · MN · controlled entity
Directly controlled by LUTHER SEMINARY FOUNDATION
-
CHARITABLE REMAINDER ANNUITY TRUST (1)
T · CHARITABLE TRUST · MN · controlled entity
Directly controlled by LUTHER SEMINARY FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 6 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611339349303291
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