UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION (EIN 208096718) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

BRANDEE CARRIGAN

Phone

7173383022

Tax Period

2024-07-01 to 2025-06-30

UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION, founded in 2006, is a mid-sized nonprofit in the Education sector that reported $15.3M in total revenue in fiscal year 2024. Revenue surged 283% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.4M, a strong 68% operating margin.

Mission

GROW, HOLD, AND MANAGE INVESTMENTS OF THE UNITED LUTHERAN SEMINARY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,271,158

Program Service Revenue $0

Investment Income $14,028,758

Other Revenue $9,878

TOTAL REVENUE $15,309,794

Expense Breakdown

Grants Paid $4,688,709

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,892,690

Other Expenses $203,981

TOTAL EXPENSES $4,892,690

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,309,794	$4,000,534	+2.8%
Expenses	$4,892,690	$4,479,589	+0.1%
Net Income	$10,417,104	$-479,055	-22.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$687,680

Total Directors

$290,680

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THE REV DR ROBERT G ERWIN	PRESIDENT	1.00	Officer Director	$0	$46,064	$289,480
EMRIED D COLE	TRUSTEE	1.00	Officer Director	$0	$0	$1,200
DAVID A RUSSELL	CHAIR	1.00	Officer Director	$0	$0	$0
FRED RISSER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRUCE D GEORGE	TRUSTEE	1.00	Director	$0	$0	$0
KAREN A ALBRECHT	TRUSTEE	1.00	Director	$0	$0	$0
LESLIE D HOBBS	TRUSTEE	1.00	Director	$0	$0	$0
THE REV ROLAND C HOBBS	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH WAGNER	TRUSTEE	1.00	Director	$0	$0	$0
BRANDEE CARRIGAN	CFO	1.00	Officer	$0	$48,309	$161,386
CONOR BROOKS	VICE PRESIDENT	1.00	Officer	$0	$20,004	$128,208
LISA DUBAY	SECRETARY	1.00	Officer	$0	$22,849	$107,406

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$15,309,794	$4,892,690	$82,253,068	$10,417,104
2024	$4,000,534	$4,479,589	$78,361,642	$-479,055
2023	$2,830,584	$4,587,363	$74,932,935	$-1,756,779
2022	$3,679,145	$3,484,531	$72,860,584	$194,614
2021	$3,506,631	$3,823,267	$81,104,760	$-316,636
2020	$12,855,103	$3,674,129	$59,588,040	$9,180,974
2019	$26,077,693	$1,384,094	$61,088,924	$24,693,599

UNITED LUTHERAN SEMINARY ENDOWMENT FOUNDATION