Lutheran Theological Southern Seminary in Columbia, South Carolina (SC)

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Lutheran Theological Southern Seminary
Employer Identification Number (EIN)570327888
Name of OrganizationLutheran Theological Southern Seminary
Address4201 N Main St, Columbia, SC 29203-5898
ActivitiesChurch, synagogue, etc
SubsectionReligious Organization
Ruling Date10/1942
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$31,785,221
Amount of Income$4,290,297
Form 990 Revenue Amount$3,649,292
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Graduate, Professional Schools (Separate Entities)


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Amount of income in 2012: $4,290,297
Lutheran Theological Southern Seminary: 

 $4,290,297
Other organizations performing similar types of work: 

 $30,559,841

Assets in 2012: $31,785,221
Lutheran Theological Southern Seminary: 

 $31,785,221
Other organizations performing similar types of work: 

 $62,591,714

Expenses in 2001: $4,506,582
Lutheran Theological Southern Seminary: 

 $4,506,582
Other organizations performing similar types of work: 

 $21,976,864

Income to expenses ratio in 2001: 0.8
This organization: 

 0.8
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2001: 55.8%
Lutheran Theological Southern Seminary: 

 55.8%
Other organizations performing similar types of work: 

 75.4%

Number of employees in 2001: 62
Lutheran Theological Southern Seminary: 

 62
Other organizations performing similar types of work: 

 299

Employees paid over $50,000 in 2001: 6.5%
Lutheran Theological Southern Seminary: 

 6.5%
Other organizations performing similar types of work: 

 25.3%

Grants share in income in 2001: 76.9%
This organization: 

 76.9%
Other organizations performing similar types of work: 

 11.6%

Financial snapshot ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Functional Expenses for 2001 ($)

Income-Producing Activities for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$4,126,616$3,530,305
Contributions, gifts, grants, and similar amounts received$3,576,654$2,716,154
Contributions to donor advised funds
Direct public support$2,706,308$1,866,479
Indirect public support$870,346$849,675
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$764,789$793,622
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Net rental income or (loss)$-121,079$-119,001
Gross rents$284,595$333,123
Less: rental expenses$405,674$452,124
Other investment income$5,892$0
Gain or (loss) from sales of assets other than inventory$-99,640$139,530
Gross amount from sales of assets other than inventory$7,478,457$5,010,412
Less: cost or other basis and sales expenses$7,578,097$4,870,882
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$0$0
Total expenses$4,114,979$4,506,582
Program services$2,038,306$2,513,187
Management and general$1,649,955$1,557,754
Fundraising$426,718$435,641
Payments to affiliates$0$0
Net assets or fund balances at end of year$32,801,416$29,788,334
Excess or (deficit) for the year$11,637$-976,277
Net assets or fund balances at beginning of year$32,119,796$32,801,416
Other changes in net assets or fund balances$669,983$-2,036,805
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$4,506,582$2,513,187$1,557,754$435,641
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$388,883
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$266,326$0$202,433$63,893
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$1,396,529$1,069,747$163,448$163,334
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$668,016$406,547$164,224$97,245
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$20,800$0$20,800$0
Legal fees$0$0$0$0
Supplies$105,962$60,043$34,418$11,501
Telephone$0$0$0$0
Postage and shipping$30,235$5,359$11,845$13,031
Occupancy$0$0$0$0
Equipment rental and maintenance$84,375$4,821$59,005$20,549
Printing and publications$78,825$24,448$27,907$26,470
Travel$105,626$48,643$45,511$11,472
Conferences, conventions, and meetings$70,850$70,850$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$548,303$368,432$178,555$1,316
Other expenses not covered above$741,852$65,414$649,608$26,830
Balance Sheets
20002001
Total assets$33,350,982$30,324,831
Cash - non-interest-bearing$56,013$106,759
Savings and temporary cash investments$1,394,428$994,439
Accounts receivable less allowance for doubtful accounts$58,448$74,480
Pledges receivable less allowance for doubtful accounts$33,304$0
Grants receivable$0$968,426
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$10,994$20,504
Investments - publicly-traded securities
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$596,140$74,465
Investments - other$19,894,942$17,776,740
Land, buildings, and equipment less accumulated depreciation$10,080,460$10,192,226
Other assets, including program-related investments$1,226,253$116,792
Total liabilities$549,566$536,497
Accounts payable and accrued expenses$151,679$145,663
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$0$0
Other liabilities$397,887$390,834
Total liabilities and net assets/fund balances$33,350,982$30,324,831
Total net assets or fund balances$32,801,416$29,788,334
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$4,126,616$3,530,305
Total revenue, gains, and other support per audited financial statements$5,202,273$1,945,624
Other expenses$1,075,657$-1,584,681
Net unrealized gains on investments$669,983$-2,036,805
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$405,674$452,124
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$4,114,979$4,506,582
Total expenses and losses per audited financial statements$4,520,653$4,958,706
Other revenue$405,674$452,124
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$405,674$452,124
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 200662
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$814,151
Program service revenue
Program service revenue 1000000$000$0$793,622
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$-119,001
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$139,530
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$55,250$19,270$0
$56,576$18,548$0
$55,250$16,431$0
$53,791$12,754$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
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2Baylor College Of MedicineOne Baylor Plaza Ms Bcm 204, Houston, TX 77030-3411TX1969-01$1,448,236,165
3Icahn School Of Medicine At Mount SinaiOne Gustave L Levy Place, New York, NY 10029-6500NY1964-02$1,418,035,855
4Rhode Island School Of Design, Full-Time Faculty Association2 College St, Providence, RI 02903RI1934-05$1,158,524,873
5Midwestern University, Kappa Psi Delta Sigma19555 N 59th Avenue, Glendale, AZ 85308AZ1996-09$537,335,134
6Thomas Jefferson University1020 Walnut St, Philadelphia, PA 19107-5543PA1996-01$404,076,183
7Bar Ilan University In Israel160 East 56th Street, New York, NY 10022-3609NY1965-09$325,837,701
8Bentley University175 Fprest Street, Waltham, MA 02452MA1950-03$294,385,390
9Western University Of Health Sciences309 E 2nd St, Pomona, CA 91766-1854CA1976-05$288,768,906
10Albany Medical College47 New Scotland Avenue Mc-116, Albany, NY 12208-3412NY1948-04$257,877,177
11Teachers College Columbia University525 W 120 St Box 235, New York, NY 10027-6605NY1935-01$253,430,282
12Massachusetts College Of Pharmacy And Allied Health Sciences179 Longwood Ave, Boston, MA 02115-5804MA1934-11$236,455,230
13Thomas M Cooley Law SchoolPO BOX 13038, Lansing, MI 48901-3038MI1974-01$230,034,065
14Bryant University1150 Douglas Pike, Smithfield, RI 02917-1291RI1950-10$201,827,427
15Brooklyn Law School250 Joralemon St, Brooklyn, NY 11201-3700NY1973-01$191,002,504
16New York Medical CollegeAdministration Building, Valhalla, NY 10595NY1940-08$176,007,536
17Southern New Hampshire University2500 N River Rd, Manchester, NH 03106-1018NH1968-08$168,426,304
18Columbia International University7435 Monticello Rd, Columbia, SC 29203-1513SC1937-11$41,297,808
19Sherman College Of Straight Chiropractic Inc2020 Springfield Rd, Spartanburg, SC 29316-7251SC1973-03$7,830,563
20Lutheran Theological Southern Seminary4201 N Main St, Columbia, SC 29203-5898SC1942-10$4,290,297
Number of organizations performing similar types of work
Arizona3
California18
Colorado1
Connecticut1
District of Columbia1
Florida2
Georgia2
Iowa3
Illinois8
Indiana1
Kentucky1
Louisiana1
Massachusetts10
Maine3
Michigan4
Minnesota5
Missouri4
Mississippi1
North Carolina2
Nebraska2
New Hampshire2
New Jersey1
Nevada1
New York18
Ohio4
Oregon2
Pennsylvania11
Rhode Island2
South Carolina3
Tennessee6
Texas9
Virginia3
Wisconsin1
Wyoming1
International2
Total139

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