2025-02-27T00:15:40-06:00 2024-06-30 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2023-07-01 561764649 SOUTHERN EVANGELICAL SEMINARY INC SOUT 7048475600 1965 CINEMA DRIVE ROCK HILL SC 29730 PHIL GINN PRESIDENT 7048475600 2025-02-25 1 0 JOHN M ROBINSON P01281319 3362944494 2025-02-25 2023 2025-03-06 01:10:19Z X PHIL GINN 1965 CINEMA DRIVE ROCK HILL SC 29730 4478029 0 X HTTPS://SES.EDU/ X 1992 NC EDUCATION - SEMINARY 14 13 33 20 0 0 468978 2367579 969867 1040366 500771 368375 53675 1709 1993291 3778029 0 0 0 0 1381151 1700000 0 0 356587 785765 1163930 2166916 2863930 -173625 914099 4679795 4650249 10841 112702 4668954 4537547 EDUCATION - SEMINARY 0 0 1778596 1042075 PROVIDE GRADUATE DEGREE PROGRAMS TO TRAIN CHRISTIAN FOR EVANGELISM AND APOLOGETICS 1778596 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 14 0 1 33 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 X SCOTT WOODS 7048475600 1965 CINEMA DRIVE ROCK HILL SC 29730 DAVID JAMISON CHAIRMAN 1.00 X X 0 0 0 DUKE HALE SECRETARY-TREASURER 1.00 X X 0 0 0 JANET DAVIS DIRECTOR 1.00 X 0 0 0 BRAD FERGUSON DIRECTOR 1.00 X 0 0 0 COREY FURMAN DIRECTOR 1.00 X 0 0 0 JEFF GASKIN DIRECTOR 1.00 X 0 0 0 GIL GATCH DIRECTOR 1.00 X 0 0 0 STEVE HOGG DIRECTOR 1.00 X 0 0 0 STACEY JACOBS DIRECTOR 1.00 X 0 0 0 JAMES LITTLE DIRECTOR 1.00 X 0 0 0 PALMER MCARTHUR DIRECTOR 1.00 X 0 0 0 THOMAS MCCUDDY DIRECTOR 1.00 X 0 0 0 LANCE RICHEY DIRECTOR 1.00 X 0 0 0 JAY RINEHART DIRECTOR 1.00 X 0 0 0 PHIL GINN PRESIDENT 40.00 X X 116361 0 2200 116361 0 2200 1 0 0 0 0 2367579 700000 2367579 TUITION 611600 927706 927706 CONFERENCES 611600 110253 110253 BOOKSTORE 611600 2407 2407 1040366 131133 131133 937242 700000 237242 237242 237242 OTHER INCOME 611600 1709 1709 1709 3778029 1042075 0 368375 150000 96000 45000 9000 1451155 928739 435347 87069 98845 63261 29653 5931 15500 15500 192769 33037 78311 81421 112030 89624 22406 31403 21982 5339 4082 68120 47684 11580 8856 27688 19382 4707 3599 288 29 37 222 85427 59799 14522 11106 22878 16015 3889 2974 19707 13795 3349 2563 BUILDING AND GROUNDS 307925 215548 52347 40030 DEVELOPMENT 93242 9324 12122 71796 LIBRARY 64806 64806 MISCELLANEOUS 42302 29611 7192 5499 79845 69960 9852 33 2863930 1778596 728747 356587 258039 80613 3230386 2781358 126560 70349 130052 0 2135573 474821 15252 1660752 919506 57177 4679795 4650249 6846 42875 3995 69827 10841 112702 X 4663309 4438047 5645 99500 4668954 4537547 4679795 4650249 X 914099 -1045506 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1657128 17262 1639866 478445 457559 20886 1660752 TUITION CREDIT BALANCES 66313 PAYROLL AND TAXES PAYABLE 3514 69827 3778029 0 3778029 0 3778029 2863930 0 2863930 0 2863930 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 LINE 3 THE CATALOG FOR THE SEMINARY WHICH IS ALSO AVAILABLE ONLINE EXPLICITLY STATES THAT THE SEMINARY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONALITY, ETHNIC ORIGIN, GENDER, AGE, OR NON-DISQUALIFYING HANDICAP IN ITS ADMISSION POLICIES, EDUCATIONAL POLICIES, SERVICES, OR SCHOLARSHIP OR LOAN PROGRAMS INASMUCH AS THE SCHOOL CUSTOMARILY DRAWS A LARGE PERCENTAGE OF ITS STUDENTS NATIONWIDE OR WORLDWIDE OR FROM A LARGE GEOGRAPHIC SECTION OR SECTIONS OF THE UNITED STATES AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS, REV. PROC 75-50 PROVIDES THAT THE PUBLICITY REQUIREMENT IS MET BY COMPLYING WITH SECTION 4.02-THE STATEMENT OF POLICY. RICHARD LAND FORMER PRESIDENT 11220 DEFERRED SALARY PAYMENT 0 X 1 700000 APPRAISAL 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE SEMINARY MAKES IT FOR 990 AVAILABLE FOR BOARD REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ADHERENCE TO THE POLICY IS REVIEWED ANNUALLY BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL OF THESE DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. PART XI, LINE 8, PRIOR PERIOD ADJUSTMENTS THE ADOPTION OF ACCOUNTING STANDARDS UPDATE ("ASU") 2016-13, FINANCIAL INSTRUMENTS - CREDIT LOSSES (TOPIC 326) RESULTED IN A RESTATEMENT OF BEGINNING NET ASSETS. THE IMPACT OF THE ADOPTION WAS A $126,000 REDUCTION IN BEGINNING NET ASSETS AND A CORRESPONDING REDUCTION IN STUDENT ACCOUNTS RECEIVABLE, NET. PRIOR TO JULY 1, 2023, THE SEMINARY HAD CAPITALIZED LIBRARY BOOKS AND CARRIED THEM ON THE BOOKS AT COST (IF PURCHASED) AND AT FAIR VALUE ON THE DONATION DATE (IF RECEIVED VIA DONATION). THE BOOKS WERE NOT BEING DEPRECIATED. PER ASC 958-360 NOT-FOR-PROFIT ENTITIES - PROPERTY, PLANT & EQUIPMENT, THESE LIBRARY BOOKS SHOULD EITHER BE CAPITALIZED AND DEPRECIATED OVER THEIR USEFUL LIFE (TYPICALLY 10 YEARS) OR BE EXPENSED AS PURCHASED. BASED ON THE GUIDANCE WITHIN ASC 958, IT WAS DETERMINED THAT THE CARRYING VALUE OF LIBRARY BOOKS SHOULD BE ZERO. AS A RESULT OF THIS ERROR, BEGINNING NET ASSETS AND THE LIBRARY BOOKS' ASSETS WERE BOTH REDUCED BY $919,506.