2024-11-14T21:45:14-06:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2021-07-01 310970262 MARTIN UNIVERSITY MART 3179173623 2186 NORTH SHERMAN DRIVE INDIANAPOLIS IN 46218 DR SEAN L HUDDLESTON PRESIDENT & CEO 3179173623 2024-11-14 1 SARAH HINTZ P00492291 3037795710 2024-11-14 2021 2024-10-15 13:58:12Z DR SEAN L HUDDLESTON 2186 NORTH SHERMAN DRIVE INDIANAPOLIS IN 46218 7096625 0 X WWW.MARTIN.EDU X 1979 IN TO MAKE HIGHER EDUCATION AVAILABLE TO ALL WHO CAN BENEFIT. 12 12 139 13 0 0 3640224 3868385 2776541 2392470 85779 275722 -13225 4533 6489319 6541110 97647 294276 0 0 3324070 3520621 0 0 322276 2170178 3221141 5591895 7036038 897424 -494928 11458178 9957264 1497722 2133260 9960456 7824004 TO MAKE HIGHER EDUCATION AVAILABLE TO ALL WHO CAN BENEFIT. MARTIN UNIVERSITY SERVES MINORITY, LOW INCOME AND ADULT LEARNERS IN A HEALING AND FREEDOM-MINDED ENVIRONMENT. 0 0 5697822 294276 2443352 PRIVATE COLLEGE EDUCATION WHICH INCLUDES A FOUR YEAR LIBERAL ARTS PROGRAM TO APPROXIMATELY 271 STUDENTS. 5697822 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 40 0 1 139 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 0 0 IN X DR SEAN L HUDDLESTON 3179173623 2186 NORTH SHERMAN DRIVE INDIANAPOLIS IN 46218 JOSEPH PERKINS JR CHAIR 2.00 X X 0 0 0 MAX SIEGEL VICE-CHAIR 2.00 X X 0 0 0 TERRY MORRIS SECRETARY 2.00 X X 0 0 0 BRUCE BUCHANAN TREASURER 2.00 X X 0 0 0 IVAN BAIRD JR TRUSTEE 2.00 X 0 0 0 DOUG BOWEN TRUSTEE 2.00 X 0 0 0 BISHOP LAMBERT GATES SR TRUSTEE 2.00 X 0 0 0 BRIAN HARRINGTON TRUSTEE 2.00 X 0 0 0 RICHARD HUNTER TRUSTEE 2.00 X 0 0 0 RAMON MORRISON TRUSTEE 2.00 X 0 0 0 PATRICIA ANN PAYNE TRUSTEE 2.00 X 0 0 0 HEIDI RIES TRUSTEE 2.00 X 0 0 0 BRENDA SHAHEED TRUSTEE (THRU 08/21) 2.00 X 0 0 0 DR SEAN L HUDDLESTON CEO & PRESIDENT 40.00 X 182100 0 5000 182100 0 5000 1 0 1 0 ROBERT HALF 135 N PENNSYLVANIA ST STE 1700 INDIANAPOLIS IN 46204 EMPLOYMENT SERVICES 150000 1 238390 1185631 2444364 35170 3868385 TUITION AND FEES 611310 2392470 2392470 2392470 3630 3630 630863 358771 272092 272092 272092 150395 238390 196744 -46349 -46349 MISCELLANEOUS INCOME 900099 50882 50882 50882 6541110 2443352 0 229373 294276 294276 188244 94122 94122 2845755 2690252 155503 5299 4701 464 134 214617 191648 18218 4751 266706 236599 23366 6741 12155 12155 78500 78500 652745 528216 58207 66322 91199 71796 12391 7012 49329 25006 7670 16653 332115 267366 48461 16288 164466 102023 51470 10973 23322 19599 2909 814 107229 86324 15646 5259 56794 45721 8288 2785 428663 236202 166216 26245 351019 228495 109279 13245 ACADEMIC EXPENSES 293162 236007 42777 14378 REPAIRS AND MAINTENANCE 291030 209380 57068 24582 BAD DEBT 157992 129573 24575 3844 OTHER EDUCATION EXPENSE 125759 90080 27829 7850 5662 4558 826 278 7036038 5697822 1015940 322276 1000 1642 1920943 2218800 1025136 43498 64955 83700 1152 123825 148036 14246360 6784772 8282028 7461588 38840 299 0 11458178 9957264 87683 755020 9228 118481 996609 797500 404202 353217 0 109042 1497722 2133260 X 0 4563688 9960456 3260316 9960456 7824004 11458178 9957264 -494928 -1641524 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 733441 733441 733441 733441 691941 41500 733441 570941 121000 691941 128101 442840 570941 0.00000 1.00000 0.00000 0 0 986805 986805 11024345 4769620 6254725 2115207 1986042 129165 120003 29110 90893 7461588 DUE ON SPLIT INTEREST AGREEMENT 109042 109042 X 6443578 -294276 -294276 6737854 -196744 -196744 6541110 6938506 196744 196744 6741762 294276 294276 7036038 PART V, LINE 4: ENDOWMENT FUNDS ARE INTENDED FOR THE MISSION OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS A TAX-EXEMPT ORGANIZATION FOR BOTH FEDERAL AND STATE INCOME TAX PURPOSES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND APPLICABLE STATE LAW. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE UNIVERSITY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE UNIVERSITY AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM A TAX POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR FISCAL YEAR ENDED JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANT EXPENSE NETTED WITH REVENUE ON AUDITED FINANCIAL STATEMENTS -294,276. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH EXPENSES ON AUDITED FINANCIAL STETEMENTS -196,744. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH EXPENSES ON AUDITED FINANCIAL STETEMENTS 196,744. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT EXPENSE NETTED WITH REVENUE ON AUDITED FINANCIAL STATEMENTS 294,276. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MARTIN UNIVERSITY USES ITS WEBSITE AND MEDIA ADVERTISEMENTS THAT CONTAIN THE STATEMENT "OPEN ENROLLMENT". THE NONDISCRIMINATION POLICY IS ALSO PRINTED IN THE UNIVERSITY HANDBOOK. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVED TITLE IV FUNDS FOR STUDENT AID AND OTHER DIRECT FUNDS FROM THE US DEPARTMENT OF EDUCATION. EMPOWERING EXCELLENCE GALA 378110 228036 150074 1241 35170 48908 64755 37543 FIRST LADY'S TEA 10675 10354 321 321 8806 388785 238390 150395 1241 35170 49229 64755 46349 196744 -46349 1 SCHOLARSHIPS 135 294276 0 N/A N/A PART I, LINE 2: MARTIN UNIVERSITY AWARDS FINANCIAL AID AND SCHOLARSHIPS BASED ON MERIT AND NEED. THE UNIVERSITY'S FINANCIAL AID DEPARTMENT ADHERES TO ALL FEDERAL AND STATE REGULATIONS. THE UNIVERSITY AWARDS THE HEERF STUDENT FUNDS AS DIRECTED BY THE FEDERAL REQUIREMENTS X 1 1 X X X 0 1 0 0 0 0 0 0 0 DR SEAN L HUDDLESTON CEO & PRESIDENT 169500 0 0 0 12600 0 5000 0 0 0 187100 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY, DR. SEAN HUDDLESTON, IS PROVIDED A HOUSING ALLOWANCE OF $12,000 WHICH IS INCLUDED IN HIS TAXABLE COMPENSATION FOR CALENDAR 2021. PART I, LINE 4B IN 2021, THE ORGANIZATION CONTRIBUTED $5,000 TO DR. SEAN HUDDLESTONE'S 457 (F). NO AMOUNTS VESTED OR WERE DISTRIBUTED IN 2021. A INDIANA FINANCE AUTHORITY 351904483 2016-07-28 1655000 REFINANCE FOR AN EDUCATIONAL FACILITY 0 0 0 A 709376 1655000 1655000 2016 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 0 X AUCTION ITEMS 1 35170 FAIR MARKET VALUE 0 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS WAS USED FOR PART I. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE ELECTED EACH YEAR AT THE ANNUAL MEETING OF THE BOARD AND SHALL CONSIST OF THE CHAIRPERSON OF THE BOARD, THE PRESIDENT OF THE UNIVERSITY, VICE-CHAIRPERSON, SECRETARY, AND TREASURER. THREE (3) VOTING MEMBERS SHALL CONSTITUTE A QUORUM AT EXECUTIVE COMMITTEE MEETINGS. THE COMMITTEE SHALL, DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD, POSSESS AND MAY EXERCISE ALL OF THE POWERS OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION, EXCEPT AS TO SUCH MATTERS, WHICH THE BOARD MAY, BY RESERVATION, EXPRESSLY RESERVE TO ITSELF. ALL ACTION BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD IN WRITING AT ITS MEETING NEXT SUCCEEDING SUCH ACTION AND SHALL BE SUBJECT TO REVISION AND ALTERATION BY THE BOARD, PROVIDED THAT NO RIGHTS OF THIRD PERSONS SHALL BE AFFECTED BY ANY SUCH REVISIONS OR ALTERATIONS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATED MANAGEMENT DUTIES TO BILL NEWELLS AND PAID ROBERT HALF $150,000 FOR HIS SERVICES FOR CALENDAR 2021. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY THE ORGANIZATIONS INDEPENDENT CPA WITH INFORMATION PROVIDED BY MANAGEMENT. IT IS THEN REVIEWED BY THE CHIEF FINANCIAL OFFICER BEFORE A COPY IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12 THE CONFLICT OF INTEREST POLICY APPLIES TO ALL MEMBERS OF MARTIN UNIVERSITY BOARD OF TRUSTEES. UPON THEIR APPOINTMENT, EACH TRUSTEE IS REQUIRED TO SIGN AND SUBMIT AT CONFLICT OF INTEREST FORM AND DISCLOSE ANY (1) SUBSTANTIAL BUSINESS INTEREST, (2) OUTSIDE ACTIVITIES, (3) PROPRIETARY INFORMATION, OR (4) GIFTS, GRATUITIES OR FAVORS THAT ARE ASSOCIATED WITH MARTIN UNIVERSITY AND APPLY TO THEM OR THEIR FAMILY MEMBERS . THE EXECUTIVE COMMITTEE OF THE BOARD, CONSISTING OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, AND TREASURER, DETERMINE IF ANY DISCLOSURES MADE BY AN INDIVIDUAL TRUSTEE COULD CONFLICT WITH THEIR GOVERNANCE DUTIES DURING ACTIONS OF THE BOARD, AND WILL RESTRICT THAT TRUSTEE FROM PARTICIPATING IN ANY OF THE DETERMINED CONFLICTING BOARD DELIBERATIONS AND DECISIONS IN THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES USES COMPARABILITY DATA TO SET THE COMPENSATION OF THE UNIVERSITY PRESIDENT. THE BASE COMPENSATION IS NOT REVIEWED ANNUALLY, BUT ANY DISCRETIONARY COMP (I.E. BONUS) IS REVIEWED ANNUALLY DURING THE PRESIDENT'S PERFORMANCE EVALUATION. BASE COMPENSATION IS ONLY REVIEWED DURING THE FORMATION OF A NEW CONTRACT. ANY DELIBERATION AND DECISION MAKING IS DOCUMENTED IN THE BOARD OF TRUSTEES MEETING MINUTES. THE PROCESS WAS LAST COMPLETED IN 2021. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.