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Nonprofiteer
← UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION

Form 990 for tax year 2024

Filed by UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION.

Totals

Total revenue
$15,309,794
Total expenses
$4,892,690
Contributions and grants received
$1,271,158
Grants paid
$4,688,709
Program service revenue
$0
Investment income
$14,028,758
Other revenue
$9,878
Total assets, end of year
$82,253,068
Total liabilities, end of year
$53,814
Net assets or fund balances, end of year
$82,199,254
Program services expenses (Part IX)
$4,892,690
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,892,690

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

    $1,271,158

  • 3 · Investment income

    total $1,235,020 · unrelated business -$84,200 · excluded $1,319,220

  • 7a · Gross sales of assets other than inventory

    securities $34,831,922

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

    securities $22,038,184

  • 7c · Gain or loss

    securities $12,793,738

  • 7d · Net gain or loss

    total $12,793,738 · excluded $12,793,738

  • 11a · Other revenue: LEGAL CLAIM SETTLEMENT

    total $9,878 · excluded $9,878

  • 11e · Other revenue, total

    $9,878

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,688,709 · program services $4,688,709

  • 11f · Fees: investment management

    total $203,981 · program services $203,981

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $118,660

  • 11 · Investments: publicly traded securities

    beginning of year $51,406,052 · end of year $51,850,091

  • 12 · Investments: other securities

    beginning of year $17,860,989 · end of year $19,936,696

  • 15 · Other assets

    beginning of year $8,975,941 · end of year $10,466,281

  • 25 · Other liabilities

    beginning of year $0 · end of year $53,814

  • 27 · Net assets without donor restrictions

    beginning of year $6,505,051 · end of year $4,602,685

  • 28 · Net assets with donor restrictions

    beginning of year $71,856,591 · end of year $77,596,569

Mission and programs · 2024

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 $4,892,690 · Grants $4,688,709

As filed on the 2024 return.

Listed in Part VII

  • The Rev Dr Robert G Erwin

    PRESIDENT

    Total calculated
    $289,480
    From this org
    $0
    From related orgs
    $243,416
    Other
    $46,064
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,416 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $29,090 related
    Nontaxable benefits
    $0 + $16,974 related
    Filer's total
    $0 + $289,480 related

  • Emried D Cole

    TRUSTEE

    Total calculated
    $1,200
    From this org
    $0
    From related orgs
    $1,200
    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

  • The Rev Roland C Hobbs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Wagner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Brandee Carrigan

    CFO

    Total calculated
    $161,386
    From this org
    $0
    From related orgs
    $113,077
    Other
    $48,309
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $113,077 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,516 related
    Nontaxable benefits
    $0 + $36,793 related
    Filer's total
    $0 + $161,386 related

  • Conor Brooks

    VICE PRESIDENT

    Total calculated
    $128,208
    From this org
    $0
    From related orgs
    $108,204
    Other
    $20,004
    Hours/week
    1 + 40 related

  • Lisa Dubay

    SECRETARY

    Total calculated
    $107,406
    From this org
    $0
    From related orgs
    $84,557
    Other
    $22,849
    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 AND CHIEF FINANCIAL OFFICER 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
2024
Filed
4 May 2026
IRS schema version
2024v5.5
Source object
202601249349302900

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