Auburn Theological Seminary

“The form 990 is prepared in draft by pkf o'connor davies llp based on information provided by the finance office. The draft is reviewed carefully by the cfo and discussed with pkf o'connor davies. This semi-final draft is provided in both paper and electronic copy to both the audit and finance committee of the board for their review and recommendation, along with a summary narrative provided by the cfo. The finance committee has an opportunity to ask questions or to make further changes at this juncture. Once these updates have been implemented, the final draft of the form 990 is distributed to the full board of directors, in both paper and electronic versions, for their review with a copy of the finance committee's recommendation to approve. The form 990 is then filed after the document has been reviewed by the full board, and after any and all questions are addressed and answered.”

“The conflict of interest policy is annually given to all board and senior staff members. The executive office keeps copies of all the forms submitted. If there are reports of potential conflicts of interest, these are brought to the attention of the evp and cfo, who brings them to the appropriate committee of the board for further review. Any individual who has a reported potential conflict is recused from the room when this topic is discussed. After review the appropriate committee brings its recommendation to the full board for a vote on how to best handle the matter.”

“The president's compensation is determined by a board compensation committee that works with auburn's historic approach to compensation as well as current comparables with other organizations through research and surveys. Auburn's president is paid according to five-year contract. The annual review is completed by the full board with the support of the administration committee. All non-presidential positions are reviewed by their immediate supervisor in an annual leap evaluation. All positions are reviewed in tandem with the pnp professional for nonprofits annual survey as a function of the administrative committee. All non-presidential staff positions are reviewed with an annual cola increase and other adjustments are reviewed in full by the administration committee with a full board vote for all salary increases and are documented in the board minutes. The president's salary was last updated in 2015; the executive vp in 2015 and the cfo in 2015.”

“Auburn theological seminary makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on its own website, auburnseminary.org, as well as on guidestar.org and other similar types of websites. Auburn also post its financial statements on its own website. In addition forms 990, form 1023 as well as the financial statements and conflict of interest policy are available upon written request at 457 riverside drive, new york, ny 10115 or by calling the organization directly at (212) 662-4315.”

“Educational consultants: program service expenses 544,447. Management and general expenses 96,161. Fundraising expenses 50,180. Total expenses 690,788. Interns & temporary help: program service expenses 5,468. Management and general expenses 966. Fundraising expenses 504. Total expenses 6,938. Payroll processing: program service expenses 6,507. Management and general expenses 1,149. Fundraising expenses 600. Total expenses 8,256.”

“Return of grant funds -34,151. Write off of uncollectible receivables -15,025. Change in beneficial interest in perpetual trust -813.”

“Auburn has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor. This process did not change from the prior year.”