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Nonprofiteer
← UNION THEOLOGICAL SEMINARY

Form 990 for tax year 2022

Filed by UNION THEOLOGICAL SEMINARY.

Totals

Total revenue
$46,602,334
Total expenses
$38,910,095
Contributions and grants received
$12,979,455
Grants paid
$3,897,209
Program service revenue
$13,201,436
Investment income
$12,047,281
Other revenue
$8,374,162
Total assets, end of year
$217,803,574
Total liabilities, end of year
$34,731,084
Net assets or fund balances, end of year
$183,072,490
Program services expenses (Part IX)
$29,942,197
Management and general expenses
$7,714,256
Fundraising expenses
$1,253,642
Program service expenses (Part III)
$29,942,197

Program services were 77.0% 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.

  • 1f · All other contributions, gifts and grants

    $12,979,455

  • 1g · Noncash contributions included above

    $251,614

  • 2a · Program service revenue: ROOM AND BOARD

    total $5,165,450 · related or exempt $5,165,450

  • 2b · Program service revenue: TUITION AND FEES

    total $3,983,126 · related or exempt $3,983,126

  • 2c · Program service revenue: EDS PROGRAM DEV. AND MGMT. FEE

    total $3,864,010 · related or exempt $3,864,010

  • 2d · Program service revenue: AUXILIARY INCOME

    total $112,800 · related or exempt $112,800

  • 2e · Program service revenue: EVENT REGISTRATION FEES

    total $46,129 · related or exempt $46,129

  • 2f · All other program service revenue

    total $29,921 · related or exempt $29,921

  • 3 · Investment income

    total $2,674,464 · excluded $2,674,464

  • 7a · Gross sales of assets other than inventory

    securities $10,801,603 · other assets $10,214,203

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

    securities $11,642,989 · other assets $0

  • 7c · Gain or loss

    securities -$841,386 · other assets $10,214,203

  • 7d · Net gain or loss

    total $9,372,817 · excluded $9,372,817

  • 10a · Gross sales of inventory

    $17,038

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $17,038 · excluded $17,038

  • 11a · Other revenue: EDS SETTLEMENT INCOME

    total $8,063,785 · excluded $8,063,785

  • 11b · Other revenue: OTHER INCOME

    total $293,339 · excluded $293,339

  • 11e · Other revenue, total

    $8,357,124

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $313,587 · program services $313,587

  • 2 · Grants to domestic individuals

    total $3,583,622 · program services $3,583,622

  • 5 · Compensation of officers, directors and key employees

    total $1,529,961 · program services $442,032 · management and general $839,492 · fundraising $248,437

  • 7 · Other salaries and wages

    total $7,898,951 · program services $6,260,088 · management and general $1,339,184 · fundraising $299,679

  • 8 · Pension plan contributions

    total $945,563 · program services $757,823 · management and general $153,535 · fundraising $34,205

  • 9 · Other employee benefits

    total $1,183,322 · program services $877,722 · management and general $249,288 · fundraising $56,312

  • 10 · Payroll taxes

    total $695,684 · program services $501,859 · management and general $155,385 · fundraising $38,440

  • 11b · Fees: legal

    total $430,173 · program services $31,676 · management and general $398,497

  • 11c · Fees: accounting

    total $123,105 · program services $5 · management and general $123,100

  • 11f · Fees: investment management

    total $685,346 · management and general $685,346

  • 11g · Fees: other

    total $3,875,102 · program services $2,970,447 · management and general $598,472 · fundraising $306,183

  • 12 · Advertising and promotion

    total $133,210 · program services $123,162 · management and general $10,048

  • 13 · Office expenses

    total $499,059 · program services $265,212 · management and general $179,744 · fundraising $54,103

  • 14 · Information technology

    total $689,162 · program services $232,218 · management and general $454,947 · fundraising $1,997

  • 16 · Occupancy

    total $4,994,104 · program services $4,190,931 · management and general $753,232 · fundraising $49,941

  • 17 · Travel

    total $1,564,377 · program services $1,525,821 · management and general $31,989 · fundraising $6,567

  • 19 · Conferences, conventions and meetings

    total $51,895 · program services $30,717 · management and general $19,175 · fundraising $2,003

  • 20 · Interest

    total $667,501 · program services $558,683 · management and general $100,675 · fundraising $8,143

  • 22 · Depreciation, depletion and amortization

    total $3,507,734 · program services $2,935,892 · management and general $529,051 · fundraising $42,791

  • 23 · Insurance

    total $951,634 · program services $686,498 · management and general $212,553 · fundraising $52,583

  • 24a · Other expenses: FACILITIES AND MAINT.

    total $3,495,971 · program services $2,933,734 · management and general $527,277 · fundraising $34,960

  • 24b · Other expenses: OTHER EXPENSES

    total $494,084 · program services $230,056 · management and general $264,022 · fundraising $6

  • 24c · Other expenses: HOSPITALITY & TRAVEL

    total $377,401 · program services $270,865 · management and general $89,244 · fundraising $17,292

  • 24d · Other expenses: LIBRARY COST

    total $219,547 · program services $219,547

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $221,388 · end of year $718,903

  • 2 · Savings and temporary cash investments

    beginning of year $15,003,691 · end of year $10,087,164

  • 3 · Pledges and grants receivable

    beginning of year $59,247 · end of year $396,059

  • 4 · Accounts receivable

    beginning of year $183,949 · end of year $6,661,118

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,396,637 · end of year $696,221

  • 10a · Land, buildings and equipment: cost or other basis

    $124,339,499

  • 10b · Land, buildings and equipment: accumulated depreciation

    $43,936,257

  • 10c · Land, buildings and equipment, net

    beginning of year $82,481,135 · end of year $80,403,242

  • 11 · Investments: publicly traded securities

    beginning of year $65,950,761 · end of year $71,584,360

  • 12 · Investments: other securities

    beginning of year $38,627,146 · end of year $44,534,639

  • 13 · Investments: program-related

    beginning of year $936,073 · end of year $818,715

  • 15 · Other assets

    beginning of year $1,224,167 · end of year $1,903,153

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,363,135 · end of year $2,634,366

  • 19 · Deferred revenue

    beginning of year $101,603 · end of year $103,304

  • 21 · Escrow or custodial account liability

    beginning of year $148,597 · end of year $377,782

  • 23 · Secured mortgages and notes payable

    beginning of year $25,000,000 · end of year $25,000,000

  • 25 · Other liabilities

    beginning of year $14,769,224 · end of year $6,615,632

  • 27 · Net assets without donor restrictions

    beginning of year $91,183,886 · end of year $104,169,019

  • 28 · Net assets with donor restrictions

    beginning of year $71,517,749 · end of year $78,903,471

Mission and programs · 2022

Mission

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.

Activities or mission (Part I)

TO PROVIDE THEOLOGICAL EDUCATION.

  • PROVIDE GRADUATE EDUCATIONAL PROGRAMS TO MORE THAN 260 FULL-TIME AND PART-TIME STUDENTS

    Expenses $29,942,197 · Grants $3,897,209 · Revenue $13,201,436

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • The Rev Dr Serene Jones

    PRESIDENT

    Total calculated
    $486,864
    From this org
    $359,528
    From related orgs
    $0
    Other
    $127,336
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,028
    Bonus
    $0
    Other
    $29,500
    Deferred
    $44,070
    Nontaxable benefits
    $83,266
    Filer's total
    $486,864

  • Clifford Hudson

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Rhonda McLean Esq

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • James Blue III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Geoffrey Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • William Candelaria Esq

    TRUSTEE THRU MAY 2023

    Total calculated
    $0
    Hours/week
    2

  • Cynthia A Fields

    TRUSTEE THRU MAY 2023

    Total calculated
    $0
    Hours/week
    2

  • Millicent Fortunoff

    TRUSTEE THRU MAY 2023

    Total calculated
    $0
    Hours/week
    2

  • Blake Franklin Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Faith E Gay

    TRUSTEE THRU MAY 2023

    Total calculated
    $0
    Hours/week
    2

  • Rev Amy Gopp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michael J Johnston

    TRUSTEE THRU FEB 2023

    Total calculated
    $0
    Hours/week
    2

  • David Klassen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Canon Peter Koon

    TRUSTEE THRU MAY 2023

    Total calculated
    $0
    Hours/week
    2

  • Caroline Laguerre-Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr Timothy Light

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sister Joan Magnetti

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David M McAlpin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Calvin M Mew

    TRUSTEE THRU MAY 2023

    Total calculated
    $0
    Hours/week
    2

  • Craig J Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Edward D Pardoe III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Susan Sgarlat

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Madison Shockley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Stan J Sloan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Nancy Steeger

    JENNINGS TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Winnie Varghese

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Dr Raphael G Warnock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ruth Wooden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jason G Wright

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jody West

    SECRETARY

    Total calculated
    $142,675
    From this org
    $114,424
    From related orgs
    $0
    Other
    $28,251
    Hours/week
    40

  • Nina Wong

    TREASURER

    Total calculated
    $137,948
    From this org
    $123,630
    From related orgs
    $0
    Other
    $14,318
    Hours/week
    40

  • Rita L Walters

    VP FOR DEVELOPMENT

    Total calculated
    $243,930
    From this org
    $199,284
    From related orgs
    $0
    Other
    $44,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,284
    Bonus
    $0
    Other
    $0
    Deferred
    $24,805
    Nontaxable benefits
    $19,841
    Filer's total
    $243,930

  • Kelly B Douglas

    DEAN EDS@UTS

    Total calculated
    $283,930
    From this org
    $178,930
    From related orgs
    $0
    Other
    $105,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,930
    Bonus
    $0
    Other
    $0
    Deferred
    $23,513
    Nontaxable benefits
    $81,487
    Filer's total
    $283,930

  • William Peabody

    CHIEF OPERATING OFFICER

    Total calculated
    $191,093
    From this org
    $158,887
    From related orgs
    $0
    Other
    $32,206
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,887
    Bonus
    $0
    Other
    $0
    Deferred
    $17,371
    Nontaxable benefits
    $14,835
    Filer's total
    $191,093

  • Cornel West Chair In

    PHILOSOPHY AND CHRISTIAN PRACTICE

    Total calculated
    $329,817
    From this org
    $170,178
    From related orgs
    $0
    Other
    $159,639
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,178
    Bonus
    $0
    Other
    $0
    Deferred
    $33,345
    Nontaxable benefits
    $126,294
    Filer's total
    $329,817

  • Afsheen Shamsi

    VP OF COMMUNICATIONS & MARKETING

    Total calculated
    $213,838
    From this org
    $165,633
    From related orgs
    $0
    Other
    $48,205
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,633
    Bonus
    $0
    Other
    $0
    Deferred
    $23,788
    Nontaxable benefits
    $24,417
    Filer's total
    $213,838

  • Su Yon Pak

    DIRECTOR OF FIELD BASED ED

    Total calculated
    $177,962
    From this org
    $148,363
    From related orgs
    $0
    Other
    $29,599
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,363
    Bonus
    $0
    Other
    $0
    Deferred
    $18,272
    Nontaxable benefits
    $11,327
    Filer's total
    $177,962

  • Vanessa Hutchinson

    VP OF ADMISSSIONS & FIN. AID

    Total calculated
    $177,264
    From this org
    $124,181
    From related orgs
    $0
    Other
    $53,083
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,181
    Bonus
    $0
    Other
    $0
    Deferred
    $15,891
    Nontaxable benefits
    $37,192
    Filer's total
    $177,264

  • Jane Huber Dirvisit Prof

    MINISTERIAL PRACT. & VOCATIONAL DEV.

    Total calculated
    $135,808
    From this org
    $124,701
    From related orgs
    $0
    Other
    $11,107
    Hours/week
    40

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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 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. THE FOLLOWING PERSONS RECEIVED HOUSING BENEFITS REPORTED IN SCH. J, PART II, COL. D: REV. DR. SERENE JONES - $63,890 KELLY DOUGLAS - $63,890 CORNEL WEST - $81,480

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

Provenance

Return type
form_990
Tax year
2022
Filed
7 May 2024
IRS schema version
2022v5.0
Source object
202431369349319493

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