TAYLOR UNIVERSITY: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- TAYLOR UNIVERSITY (EIN 35-0868181)
- Tax period
- 2021-06-01 to 2022-05-31
- Filed
- 2023-02-20
- IRS object ID
- 202320509349300207
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-02-20T01:30:10+00:00 | ReturnTs |
| Tax Period End | 2022-05-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 350921680 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 West Wacker Drive Suite 2600 | AddressLine1Txt |
| City | Chicago | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 606061224 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-06-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 350868181 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Taylor University | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TAYL | BusinessNameControlTxt |
| Phone | 7659984634 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1846 S Main Street | AddressLine1Txt |
| City | Upland | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46989 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Stephen Olson | PersonNm |
| Person Title | VP of Business and Finance / CFO | PersonTitleTxt |
| Signature | 2023-02-20 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Stephen | PersonFirstNm |
| Person Last | Olson | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Jennifer Burke | PreparerPersonNm |
| PTIN | P01342224 | PTIN |
| Phone | 3128997000 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-03-07 01:45:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | D Michael Lindsay | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1846 S Main Street | AddressLine1Txt |
| City | Upland | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46989 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $170,056,769 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.Taylor.edu | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1846 | FormationYr |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Activity Or Mission | Develop servant-leaders marked with a passion to minister Christ's redemptive love, grace, and truth to a world in need. | ActivityOrMissionDesc |
| Voting Members Governing Body | 22 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 1740 | TotalEmployeeCnt |
| Total Volunteers | 95 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $11,730,450 | PYContributionsGrantsAmt |
| CY Contributions Grants | $28,668,284 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $84,087,053 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $82,959,452 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8,229,079 | PYInvestmentIncomeAmt |
| CY Investment Income | $10,477,285 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $146,588 | CYOtherRevenueAmt |
| PY Total Revenue | $104,046,582 | PYTotalRevenueAmt |
| CY Total Revenue | $122,251,609 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $32,453,057 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $33,141,853 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $35,836,885 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $36,589,123 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $3,986,403 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,940,622 | PYOtherExpensesAmt |
| CY Other Expenses | $32,145,306 | CYOtherExpensesAmt |
| PY Total Expenses | $94,230,564 | PYTotalExpensesAmt |
| CY Total Expenses | $101,876,282 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $9,816,018 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $20,375,327 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $280,316,410 | TotalAssetsBOYAmt |
| Total Assets EOY | $297,240,119 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $32,532,179 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $44,370,332 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $247,784,231 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $252,869,787 | NetAssetsOrFundBalancesEOYAmt |
| Mission | The mission of Taylor University is to develop servant-leaders marked with a passion to minister Christ's redemptive love, grace, and truth to a world in need. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $86,134,989 | ExpenseAmt |
| Grant | $33,141,853 | GrantAmt |
| Revenue | $82,959,452 | RevenueAmt |
| Desc | In order to advance our mission, Taylor University is committed to the following purposes: -Whole Person Focused: We involve students in learning experiences imbued with a vital Christian interpretation of truth and life which foster their intellectual, emotional, physical, vocational, social, and spiritual development. -Biblically Anchored: We believe that all truth has its source in God and His Word. We are committed individually and collectively to the prayerful study and application of Scripture. -Liberal Arts Grounded: We prepare students to adapt to a fast-changing world, equipped with critical thinking skills, a lifelong love of learning, and an appreciation for God's creation. -Christ-Centered: Our Christian faith should permeate all learning-leading to a consistent life of worship, servant-leadership, stewardship, and world outreach. -Faith and Learning Integrated: We strive to create specific experiences where the integrative focus of a Christian liberal arts education is clarified, personalized, and applied. -World Engaging: We contribute to the advancement of human knowledge and understanding and serve the evangelical Christian church and the larger, public community for the glory of God. -Servant-Leader Motivated: We foster a biblical model of relationships acknowledging both unity and diversity of the followers of Christ within a covenant community, which can be evidenced in a continuing lifestyle of service to and concern for others. At Taylor University we are actively seeking students who possess exceptional academic preparation and are ready to contribute to our robust learning community. This year's incoming freshman class had an average GPA of 3.78 and an ACT of 27. At Taylor University we will work hard to provide the people, the services, the tools, and the environment - in general, the resources - to help students successfully pursue their calling. These outstanding students help us get noticed. Taylor University, year after year, continues to receive recognition at the highest levels in the various college and university rankings. Taylor University received the ranking of #2 in the category Regional Colleges-Midwest from U.S. News & World Report and Taylor has remained in the top 3 in this ranking for the past 26 years. U.S. News & World Report also ranked Taylor #1 student excellence and #2 graduation and retention rates. Taylor was also highly ranked by The Princeton Review and Forbes. Open Doors ranks Taylor 6th among the nation's baccalaureate institutions for undergraduate participation rate in study abroad programs and ranks Taylor 8th among baccalaureates nationally for the actual number of undergraduate students participating, and 3rd nationally for short-term duration trips. Each of the publications measured criteria that cited the academic excellence of Taylor's faculty and students, (current retention 89%, graduation rate 77%), the percentage of students studying abroad, and the investment made by alumni. Focus on International Study 401 students earned academic credit while participating in over 28 programs in over 31 countries. Students also earned credit in service learning or cross cultural programs as short-term missionaries to U.S. cities. Taylor University also has a student exchange agreement with a university in South Korea that provides the opportunity for a limited number of students from each institution to spend one semester as a guest student on the other's campus. This program promotes cross-cultural understanding as well as offering a full semester of college credit. | Desc |
| Total Program Service Expenses | $86,134,989 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Donor Advised Fund | Yes (true) | DonorAdvisedFundInd |
| Conservation Easements | Yes (true) | ConservationEasementsInd |
| Collections Of Art | Yes (true) | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (true) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | Yes (true) | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (true) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBondsInd |
| Escrow Account | false | EscrowAccountInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | Yes (true) | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (true) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (true) | DeductibleNonCashContriInd |
| Deductible Art Contribution | Yes (true) | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 3702 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 1740 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | Yes (true) | ForeignFinancialAccountInd |
| Foreign Country | EI | ForeignCountryCd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (true) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (true) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | Yes (true) | Form8282PropertyDisposedOfInd |
| Form8282 Filed | 41 | Form8282FiledCnt |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 22 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | IN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Bruce Miller | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7659984634 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1846 S Main Street | AddressLine1Txt |
| City | Upland | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46989 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (31 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| Chris L Goeglein | |||||||||
| Chairman | 6.0 | 0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| Dr D Michael Lindsay | |||||||||
| President beginning August 2021 | 60.0 | 7.0 | Yes (X) | Yes (X) | $152,408 | $0 | $24,581 | ||
| Heather Larson | |||||||||
| Secretary | 2.0 | 0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| Manuel Rosado | |||||||||
| Vice Chairman | 2.0 | 2.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| P Eric Turner | |||||||||
| Treasurer | 2.0 | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| Paige Cunningham | |||||||||
| Interim President until August 2021 | 60.0 | 7.0 | Yes (X) | Yes (X) | $205,397 | $0 | $26,919 | ||
| Angela Angelovska-Wilson | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Carl Chapman | |||||||||
| Trustee until August 2021 | 2.0 | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| Dan Wolgemuth | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Erik Hotmire | |||||||||
| Trustee | 2.0 | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| Jill Anschutz | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Jonathan Beukelman | |||||||||
| Trustee | 2.0 | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| Karen Thomas | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Kathy Stevens | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Mark D Taylor | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Mark Davis | |||||||||
| Trustee | 2.0 | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Minda Chow | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Nicholas Wallace | |||||||||
| Trustee | 2.0 | 2.0 | Yes (X) | $0 | $0 | $0 | |||
| Rhonda Jeter | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Sarah Flick | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Shani P Wilfred | |||||||||
| Trustee | 2.0 | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| Stephen L Johnson | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Susan McCabe | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Tamara Shaya Hoffmann | |||||||||
| Trustee | 2.0 | 0 | Yes (X) | $0 | $0 | $0 | |||
| Stephen Olson | |||||||||
| VP Business & Finance / CFO | 40.0 | 10.0 | Yes (X) | $138,841 | $0 | $32,117 | |||
| Rex Bennett | |||||||||
| VP of University Advancement | 50.0 | 1.0 | $193,286 | $0 | $31,918 | Yes (X) | |||
| Coein (Skip) Trudeau | |||||||||
| VP of Student Services | 50.0 | 0 | $121,754 | $0 | $29,546 | Yes (X) | |||
| Mark Cosgrove | |||||||||
| Faculty Member | 50.0 | 0 | $132,382 | $0 | $24,054 | Yes (X) | |||
| Ron Sutherland | |||||||||
| Special Assistant to the President | 50.0 | 2.0 | $135,890 | $0 | $30,313 | Yes (X) | |||
| Thomas Jones | |||||||||
| Faculty Member | 50.0 | 0 | $110,331 | $0 | $26,541 | Yes (X) | |||
| Vance Maloney | |||||||||
| Faculty Member | 50.0 | 0 | $128,154 | $0 | $27,444 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,318,443 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $253,433 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 16 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Creative Dining Services | |||||
| One Royal Park Drive Suite 3 | Zeeland | MI | 49644 | Food Services | $3,111,774 |
| Michael Kinder and Sons Inc | |||||
| 5206 Decatur Road | Fort Wayne | IN | 46806 | Building Construction | $1,137,507 |
| Barkley Builders Inc | |||||
| 1383 E 950 N | Ossian | IN | 46777 | Construction Services | $408,477 |
| Footstep Ministries | |||||
| 2308 King Arthur Blvd | Lewisville | TX | 75056 | Travel Agent Services | $397,960 |
| Faegre Drinker Biddle & Reath LLP | |||||
| 300 N Meridian St Central 2500 | Indianapolis | IN | 46204 | Legal Services | $342,624 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 18 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $2,755,913 | GovernmentGrantsAmt |
| All Other Contributions | $25,912,371 | AllOtherContributionsAmt |
| Noncash Contributions | $2,440,386 | NoncashContributionsAmt |
| Total Contributions | $28,668,284 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Tuition and fees | 900099 | $64,195,122 | $64,195,122 |
| Dormitory fees | 721310 | $8,283,564 | $8,283,564 |
| Food services | 900099 | $7,515,045 | $7,515,045 |
| Health Center | 900099 | $305,685 | $305,685 |
| Bookstore commissions | 451211 | $144,430 | $144,430 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,515,606 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,515,606 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $82,959,452 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,086,377 | TotalRevenueColumnAmt |
| Exclusion | $5,086,377 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $146,588 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $146,588 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $146,588 | TotalRevenueColumnAmt |
| Exclusion | $146,588 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $52,821,359 | SecuritiesAmt |
| Other | $374,709 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $47,685,117 | SecuritiesAmt |
| Other | $120,043 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,136,242 | SecuritiesAmt |
| Other | $254,666 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,390,908 | TotalRevenueColumnAmt |
| Exclusion | $5,390,908 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $122,251,609 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $82,959,452 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $10,623,873 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,141,853 | TotalAmt |
| Program Services | $33,141,853 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $630,259 | TotalAmt |
| Program Services | $479,891 | ProgramServicesAmt |
| Management And General | $108,718 | ManagementAndGeneralAmt |
| Fundraising | $41,650 | FundraisingAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,579 | TotalAmt |
| Program Services | $30,136 | ProgramServicesAmt |
| Management And General | $6,827 | ManagementAndGeneralAmt |
| Fundraising | $2,616 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,537,197 | TotalAmt |
| Program Services | $19,444,507 | ProgramServicesAmt |
| Management And General | $4,405,098 | ManagementAndGeneralAmt |
| Fundraising | $1,687,592 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,109,880 | TotalAmt |
| Program Services | $845,084 | ProgramServicesAmt |
| Management And General | $191,451 | ManagementAndGeneralAmt |
| Fundraising | $73,345 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,470,588 | TotalAmt |
| Program Services | $5,688,248 | ProgramServicesAmt |
| Management And General | $1,288,656 | ManagementAndGeneralAmt |
| Fundraising | $493,684 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,801,620 | TotalAmt |
| Program Services | $1,371,787 | ProgramServicesAmt |
| Management And General | $310,775 | ManagementAndGeneralAmt |
| Fundraising | $119,058 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $351,976 | TotalAmt |
| Program Services | $268,001 | ProgramServicesAmt |
| Management And General | $60,715 | ManagementAndGeneralAmt |
| Fundraising | $23,260 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,748 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $87,748 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,261,492 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $1,261,492 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,854,668 | TotalAmt |
| Program Services | $2,935,017 | ProgramServicesAmt |
| Management And General | $664,920 | ManagementAndGeneralAmt |
| Fundraising | $254,731 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $287,571 | TotalAmt |
| Program Services | $218,962 | ProgramServicesAmt |
| Management And General | $49,605 | ManagementAndGeneralAmt |
| Fundraising | $19,004 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $844,003 | TotalAmt |
| Program Services | $642,640 | ProgramServicesAmt |
| Management And General | $145,588 | ManagementAndGeneralAmt |
| Fundraising | $55,775 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $950,926 | TotalAmt |
| Program Services | $724,053 | ProgramServicesAmt |
| Management And General | $164,032 | ManagementAndGeneralAmt |
| Fundraising | $62,841 | FundraisingAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $117,743 | TotalAmt |
| Program Services | $89,652 | ProgramServicesAmt |
| Management And General | $20,310 | ManagementAndGeneralAmt |
| Fundraising | $7,781 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,049,424 | TotalAmt |
| Program Services | $1,560,470 | ProgramServicesAmt |
| Management And General | $353,520 | ManagementAndGeneralAmt |
| Fundraising | $135,434 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,814,375 | TotalAmt |
| Program Services | $1,381,499 | ProgramServicesAmt |
| Management And General | $312,975 | ManagementAndGeneralAmt |
| Fundraising | $119,901 | FundraisingAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $915,797 | TotalAmt |
| Program Services | $697,305 | ProgramServicesAmt |
| Management And General | $157,973 | ManagementAndGeneralAmt |
| Fundraising | $60,519 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $929,431 | TotalAmt |
| Program Services | $929,431 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,972,827 | TotalAmt |
| Program Services | $4,547,824 | ProgramServicesAmt |
| Management And General | $1,030,297 | ManagementAndGeneralAmt |
| Fundraising | $394,706 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $594,919 | TotalAmt |
| Program Services | $452,983 | ProgramServicesAmt |
| Management And General | $102,622 | ManagementAndGeneralAmt |
| Fundraising | $39,314 | FundraisingAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Food Service Costs | $5,539,703 | $5,539,703 | $0 | $0 |
| Program Expenses | $592,503 | $592,503 | $0 | $0 |
| Operating Supplies | $797,063 | $606,899 | $137,491 | $52,673 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,183,137 | TotalAmt |
| Program Services | $3,946,541 | ProgramServicesAmt |
| Management And General | $894,077 | ManagementAndGeneralAmt |
| Fundraising | $342,519 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $101,876,282 | TotalAmt |
| Program Services | $86,134,989 | ProgramServicesAmt |
| Management And General | $11,754,890 | ManagementAndGeneralAmt |
| Fundraising | $3,986,403 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,065,964 | BOYAmt |
| EOY | $7,987,584 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,550,358 | BOYAmt |
| EOY | $7,962,140 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,231,760 | BOYAmt |
| EOY | $906,106 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,663,519 | BOYAmt |
| EOY | $1,446,122 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $219,693 | BOYAmt |
| EOY | $235,841 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $592,846 | BOYAmt |
| EOY | $1,021,710 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $196,394,697 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $96,728,867 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $100,286,874 | BOYAmt |
| EOY | $99,665,830 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $145,608,366 | BOYAmt |
| EOY | $138,933,977 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,132,705 | BOYAmt |
| EOY | $14,651,001 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,964,325 | BOYAmt |
| EOY | $24,429,808 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $280,316,410 | BOYAmt |
| EOY | $297,240,119 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,554,744 | BOYAmt |
| EOY | $5,835,441 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $561,136 | BOYAmt |
| EOY | $640,081 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,455,609 | BOYAmt |
| EOY | $31,470,195 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,960,690 | BOYAmt |
| EOY | $6,424,615 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,532,179 | BOYAmt |
| EOY | $44,370,332 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $115,429,682 | BOYAmt |
| EOY | $110,815,125 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $132,354,549 | BOYAmt |
| EOY | $142,054,662 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $247,784,231 | BOYAmt |
| EOY | $252,869,787 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $280,316,410 | BOYAmt |
| EOY | $297,240,119 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $20,375,327 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$15,376,686 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $86,915 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $12,586,628 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $12,287,406 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,074,234 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,730,450 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $28,668,284 | CurrentTaxYearAmt |
| Total | $79,347,002 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $12,586,628 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $12,287,406 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,074,234 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,730,450 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $28,668,284 | CurrentTaxYearAmt |
| Total | $79,347,002 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $5,540,866 | SubstantialContributorsTotAmt |
| Public Support Total170 | $73,806,136 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,563,300 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,701,546 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,037,024 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,921,475 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,232,965 | CurrentTaxYearAmt |
| Total | $18,456,310 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $97,803,312 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $410,619,078 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.7546 | PublicSupportCY170Pct |
| Public Support PY170 | 0.7186 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part II, Line 1 | FormAndLineReferenceDesc |
| Explanation | Taylor University has excluded an estate gift received during fiscal year ending May 31, 2019 as a contribution receivable and contribution revenue in their 2019 audited financial statements. This estate gift was also excluded as a contribution receivable and net assets on the 2020, 2021, and 2022 audited financial statements. Management continues to work with the estate to obtain necessary information to properly value the estate gift for inclusion in the financial statements. The Form 990 was prepared in accordance with the audited financial statements. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Donor Advised Funds Held | 2 | DonorAdvisedFundsHeldCnt |
| Funds And Other Accounts Held | 0 | FundsAndOtherAccountsHeldCnt |
| Donor Advised Funds Contri | $7,891 | DonorAdvisedFundsContriAmt |
| Funds And Other Accounts Contri | $0 | FundsAndOtherAccountsContriAmt |
| Donor Advised Funds Grants | $10,000 | DonorAdvisedFundsGrantsAmt |
| Funds And Other Accounts Grants | $0 | FundsAndOtherAccountsGrantsAmt |
| Donor Advised Funds Vl EOY | $55,396 | DonorAdvisedFundsVlEOYAmt |
| Funds And Other Accounts Vl EOY | $0 | FundsAndOtherAccountsVlEOYAmt |
| Disclosed Org Leg Ctrl | Yes (true) | DisclosedOrgLegCtrlInd |
| Disclosed For Charitable Prps | Yes (true) | DisclosedForCharitablePrpsInd |
| Protection Natural Habitat | Yes (X) | ProtectionNaturalHabitatInd |
| Total Easements | 2 | TotalEasementsCnt |
| Total Acreage | 92.07 | TotalAcreageCnt |
| Historic Structure Easements | 0 | HistoricStructureEasementsCnt |
| Historic Strctr Easements Aftr | 0 | HistoricStrctrEasementsAftrCnt |
| Modified Easements | 0 | ModifiedEasementsCnt |
| States Easements Held | 1 | StatesEasementsHeldCnt |
| Written Policy Monitoring | false | WrittenPolicyMonitoringInd |
| Expenses Incurred Enforcement | $0 | ExpensesIncurredEnforcementAmt |
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Coll Used Scholarly Rsrch | Yes (X) | CollUsedScholarlyRsrchInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
| Coll Used Loan Or Exch Prog | Yes (X) | CollUsedLoanOrExchProgInd |
| Solicited Assets Sale | false | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $119,606,980 | BeginningYearBalanceAmt |
| Contributions | $4,000,128 | ContributionsAmt |
| Investment Earnings Or Losses | -$3,475,569 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,621,612 | GrantsOrScholarshipsAmt |
| Other Expenditures | $2,084,896 | OtherExpendituresAmt |
| Administrative Expenses | $406,586 | AdministrativeExpensesAmt |
| End Year Balance | $115,018,445 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $95,014,590 | BeginningYearBalanceAmt |
| Contributions | $3,092,546 | ContributionsAmt |
| Investment Earnings Or Losses | $26,290,848 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,529,410 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,887,511 | OtherExpendituresAmt |
| Administrative Expenses | $374,083 | AdministrativeExpensesAmt |
| End Year Balance | $119,606,980 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $93,013,706 | BeginningYearBalanceAmt |
| Contributions | $3,099,727 | ContributionsAmt |
| Investment Earnings Or Losses | $3,467,450 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,382,001 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,833,034 | OtherExpendituresAmt |
| Administrative Expenses | $351,258 | AdministrativeExpensesAmt |
| End Year Balance | $95,014,590 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $93,677,618 | BeginningYearBalanceAmt |
| Contributions | $2,675,493 | ContributionsAmt |
| Investment Earnings Or Losses | $1,200,563 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,401,738 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,806,275 | OtherExpendituresAmt |
| Administrative Expenses | $331,955 | AdministrativeExpensesAmt |
| End Year Balance | $93,013,706 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $87,026,925 | BeginningYearBalanceAmt |
| Contributions | $4,108,391 | ContributionsAmt |
| Investment Earnings Or Losses | $6,823,195 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,182,339 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,729,595 | OtherExpendituresAmt |
| Administrative Expenses | $368,959 | AdministrativeExpensesAmt |
| End Year Balance | $93,677,618 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.12 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.64 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.24 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (true) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $2,670,805 | OtherCostOrOtherBasisAmt |
| Book Value | $2,670,805 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $159,472,026 | OtherCostOrOtherBasisAmt |
| Depreciation | $70,521,446 | DepreciationAmt |
| Book Value | $88,950,580 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $9,839,674 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,626,404 | DepreciationAmt |
| Book Value | $2,213,270 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $23,090,176 | OtherCostOrOtherBasisAmt |
| Depreciation | $18,581,017 | DepreciationAmt |
| Book Value | $4,509,159 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $1,322,016 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $1,322,016 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $99,665,830 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Other Assets | |
| Unspent bond proceeds and deposits | $15,610,660 |
| Affiliate annuity/trust future remainder | $2,049,087 |
| Due from Related Third Party | $17,673 |
| Annuity and Trust Assets | $6,739,988 |
| Security Deposits | $12,400 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $24,429,808 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| Taylor University Health Plan Trust | $1,397,894 |
| Student Advance Payments and Deposits | $979,862 |
| Federal Student Loan Advances | $715,822 |
| Deferred Compensation Liability | $15,571 |
| Annuity and Trust Obligations | $1,853,714 |
| Due to Related Third Party | $1,461,752 |
| Fair Value of Interest Rate Swap Agreements |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $6,424,615 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part II, Line 9 Conservation easements financial reporting | There was no current year activity related to the easement held by the University. The value of this property is carried on the balance sheet at its historical value. |
| Schedule D, Part III, Line 4 Collections of art - description of collections | The Leland and LaRita Boren art collection is a collection of American Indians and Western Art and also a Collection of Indiana Fine Art. The collection is comprised of nearly 500 individual pieces of art many of which are the result of the efforts that Leland and LaRita Boren spent from 1971 forward meeting artists, visiting museums and gallerists and collecting the works of art that document the art and culture of the American West. The University plans to display the collection in a manner that is accessible to the public and scholars for viewing, and enjoyment. The collection also has the purpose of complimenting art education at the University. The Edwin W. Brown Collection includes first English and American editions of books authored, edited, or with prefaces by C.S. Lewis, published essays and lectures of C.S. Lewis, two Lewis manuscripts, and books about C.S. Lewis, as well as first and reprint editions of George MacDonald and first editions of Charles Williams, Dorothy L. Sayers, and Owen Barfield. It also contains several manuscripts, letters, contracts, and photographs. The collection is more valuable in its entirety than the individual parts alone. In addition, it provides enhanced educational opportunities for students and faculty at Taylor University. The cultural, literary, and religious aims of the collection can be expanded through the educational curriculum offerings of lectures and seminars. In fact, Taylor University will have the potential to reach beyond the literary collection and bring C.S. Lewis scholars to the campus. In accordance with the University's capitalization policy, collections of artwork, rare books and other historically significant artifacts are not capitalized or recorded on the consolidated statements of financial position. |
| Schedule D, Part V, Line 4 Intended uses of endowment funds | Endowment funds are used to provide scholarships, research grants, facilities maintenance and academic program support as designated by the donors. |
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | The Organization has received a determination letter from the Internal Revenue Service indicating it is a tax-exempt organization as provided in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes on income related to its exempt purpose. The Organization files the appropriate tax forms in the U.S. federal jurisdiction and the state of Indiana. The accounting guidance for uncertainty in income taxes prescribes the recognition threshold a tax position is required to meet before being recognized in the financial statements. The guidance also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management believes there are no material uncertainties in income taxes. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (true) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (true) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (true) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (true) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (true) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (true) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (true) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (true) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY | Taylor University is in compliance with the Rev. Proc. 2019-22. Nondiscrimination policies are included in all materials available to the public. |
| Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT | Taylor University receives assistance and grants from the following federal programs: SEOG, Pell, Federal Direct Loan Programs, Higher Education Emergency Relief Fund, and work study. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (2 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|---|
| South America | 0 | 0 | Program Services | Off-campus Studies | $270,276 |
| Central America and the Caribbean | 0 | 0 | Investments | $12,100,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $12,370,276 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $12,370,276 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (true) | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (true) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (true) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | false | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements | FormAndLineReferenceDesc |
| Explanation | CENTRAL AMERICA AND THE CARIBBEAN-Accrual; SOUTH AMERICA-Accrual | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Scholarships & Educational Grants | GrantTypeTxt |
| Recipient | 1757 | RecipientCnt |
| Cash Grant | $33,141,853 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | Grants to individuals: The University provides financial assistance to students that submit a written application and meet the University's criteria for financial assistance. Applications are reviewed by the Financial Aid Department and/or scholarship committees, depending upon the particular terms of each scholarship. Awards are applied against the student's tuition due to the University. The University monitors each student to assure that he/she remains enrolled in school and continues to satisfy the criteria for his/her specific scholarship. If the student withdraws from the University, then any remaining funds are returned to the scholarship pool to be awarded to another student. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Paige Cunningham | ||||||||||||||
| Interim President until August 2021 | $146,099 | $0 | $56,250 | $0 | $3,048 | $0 | $12,202 | $0 | $14,717 | $0 | $232,316 | $0 | $0 | $0 |
| Dr D Michael Lindsay | ||||||||||||||
| President beginning August 2021 | $151,173 | $0 | $0 | $0 | $1,235 | $0 | $7,269 | $0 | $17,312 | $0 | $176,989 | $0 | $0 | $0 |
| Stephen Olson | ||||||||||||||
| VP Business & Finance / CFO | $138,491 | $0 | $0 | $0 | $350 | $0 | $8,628 | $0 | $23,489 | $0 | $170,958 | $0 | $0 | $0 |
| Rex Bennett | ||||||||||||||
| VP of University Advancement | $188,386 | $0 | $0 | $0 | $4,900 | $0 | $11,460 | $0 | $20,458 | $0 | $225,204 | $0 | $0 | $0 |
| Ron Sutherland | ||||||||||||||
| Special Assistant to the President | $134,306 | $0 | $0 | $0 | $1,584 | $0 | $8,310 | $0 | $22,003 | $0 | $166,203 | $0 | $0 | $0 |
| Coein (Skip) Trudeau | ||||||||||||||
| VP of Student Services | $120,722 | $0 | $0 | $0 | $1,032 | $0 | $7,500 | $0 | $22,046 | $0 | $151,300 | $0 | $0 | $0 |
| Vance Maloney | ||||||||||||||
| Faculty Member | $127,301 | $0 | $0 | $0 | $853 | $0 | $4,738 | $0 | $22,706 | $0 | $155,598 | $0 | $0 | $0 |
| Mark Cosgrove | ||||||||||||||
| Faculty Member | $68,096 | $0 | $0 | $0 | $64,286 | $0 | $4,327 | $0 | $19,727 | $0 | $156,436 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a Housing allowance or residence for personal use | The University President lives in a residence that is located on the campus of the University. The President is required to live in the residence as a condition of employment. The residence is furnished for the convenience of the University and the President regularly uses it to conduct University business. The value provided to Interim President Paige Cunningham was $14,000 for tax year 2021. The value provided to President D. Michael Lindsay was $9,000 for tax year 2021. The amounts were nontaxable. |
| Schedule J, Part I, Line 1a Personal services | University staff clean the public areas of the President's residence and maintain the residence and its grounds. The value of such services were not treated as taxable compensation to Interim President Paige Cunningham or President D. Michael Lindsay for tax year 2021. |
| Schedule J, Part I, Line 4a Severance or change-of-control payment | As part of a voluntary early retirement program, Mark Cosgrove received a severance payment of $61,991 during the calendar year. The payment is included in Part VII, Column (d) and Schedule J, Part II, Column (b)(iii). |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Town of Upland Indiana | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 356001216 | BondIssuerEIN |
| CUSIP | 915395FF9 | CUSIPNum |
| Bond Issued | 2021-08-05 | BondIssuedDt |
| Issue Price | $32,700,890 | IssuePriceAmt |
| Purpose | See statement | PurposeDesc |
| Defeased | false | DefeasedInd |
| On Behalf Of Issuer | false | OnBehalfOfIssuerInd |
| Pool Financing | false | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Retired | $0 | RetiredAmt |
| Bond Defeased | $0 | BondDefeasedAmt |
| Total Proceeds | $32,707,845 | TotalProceedsAmt |
| In Reserve Fund | $0 | InReserveFundAmt |
| Capitalized Interest | $0 | CapitalizedInterestAmt |
| Refunding Escrow | $0 | RefundingEscrowAmt |
| Issuance Costs From Proceeds | $329,218 | IssuanceCostsFromProceedsAmt |
| Credit Enhancement | $0 | CreditEnhancementAmt |
| Working Capital Expenditures | $0 | WorkingCapitalExpendituresAmt |
| Capital Expenditures | $15,706,954 | CapitalExpendituresAmt |
| Other Spent Proceeds | $16,671,673 | OtherSpentProceedsAmt |
| Unspent | $0 | UnspentAmt |
| Refunding Tax Exempt Bonds | Yes (true) | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | false | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (true) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (true) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | false | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | false | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | false | MgmtContractBondFincdPropInd |
| Any Research Agreements | false | AnyResearchAgreementsInd |
| Total Private Business Use | 0.0 | TotalPrivateBusinessUsePct |
| Bond Iss Meet Prvt Sec Pymt Test | false | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | Yes (true) | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiledInd |
| Rebate Not Due Yet | Yes (true) | RebateNotDueYetInd |
| Exception To Rebate | false | ExceptionToRebateInd |
| No Rebate Due | false | NoRebateDueInd |
| Variable Rate Issue | false | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | false | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | false | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | false | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | Yes (true) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | false | ProceduresCorrectiveActionInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule K, Part I, Column (f) Description of purpose | In summer of 2021, the University refunded and defeased all remaining Series 2010, 2021, and 2012 bonds using proceeds from the Series 2021 bonds. The University will also fund approximately $15.7 million of projects with bond proceeds, including Construction of a new film and media building, Construction and renovation of the football fieldhouse and arena, Construction and renovation of the business department, and Construction, installation and completion of various campus upgrades and corrective issues. |
| Schedule K, Part II, Line 3 Proceeds | The total proceeds reported on Line 3 is different from the amount reported in Part I, Column (e) due to investment income. |
Schedule L IRS990ScheduleL
Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash Grant | $47,688 | CashGrantAmt |
| Type Of Assistance | Scholarship | TypeOfAssistanceTxt |
| Assistance Purpose | Financial Assistance | AssistancePurposeTxt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Rebecca Lindsay | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Spouse of Dr. D. Michael Lindsay, President | RelationshipDescriptionTxt |
| Transaction | $18,034 | TransactionAmt |
| Transaction | Employment | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule L, Part III scholarships to interested persons | FormAndLineReferenceDesc |
| Explanation | Colleges, universities, and primary and secondary schools aren't required to identify interested persons to whom they provided scholarships, fellowships, and similar financial assistance. Accordingly, columns (a) and (b) are left blank. | ExplanationTxt |
Schedule M IRS990ScheduleM
Books And Publications BooksAndPublicationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Noncash Contributions Rpt F990 | $4,957 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Cost | MethodOfDeterminingRevenuesTxt |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 38 | ContributionCnt |
| Noncash Contributions Rpt F990 | $2,372,272 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Market value | MethodOfDeterminingRevenuesTxt |
Secur Prtnrshp Trust Intrsts SecurPrtnrshpTrustIntrstsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 3 | ContributionCnt |
| Noncash Contributions Rpt F990 | $12,157 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Market value | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Desc | Cryptocurrency | Desc |
| Contribution | 2 | ContributionCnt |
| Noncash Contributions Rpt F990 | $51,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Market value | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | false | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule M, Part I Explanations of reporting method for number of contributions | FormAndLineReferenceDesc |
| Explanation | Books and publications - number of contributions Securities - Publicly traded - number of contributions Securities - Partnership, LLC, or trust interests - number of contributions Other - Cryptocurrency number of contributions | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Line 1a Delegate broad authority to a committee | The University's board of directors has delegated broad authority to act on its behalf to the Executive Committee. The Executive Committee shall consist of the Chair of the Board; the Vice Chair of the Board; the Secretary; the Treasurer (who serves as chair of the Business & Finance Committee); the President of the University, the chair of the Investment Committees, the chair of the Audit Committee, and the chair from each of the Strategic Committees; and two members of the Board elected at large. Members-at-large shall be nominated by the Committee on Trustees and shall not serve more than two consecutive terms of one year. The immediate past Chair of the Board shall serve as a member of the Executive Committee for the first year following the expiration of his or her term as Chair of the Board; provided, however, that the former Chair remains a member of the Board of Trustees. The Executive Committee shall 1) Have power to transact all necessary business of the University between meetings of the full Board, including the power to enter into contracts and agreements connected with the ordinary course of business, but it shall not have the power to buy or sell real estate (except real estate received as gifts to fund life income agreements) or to employ or release a President of the University; 2) Under the coordination of the Vice Chair of the Board, serve as a nominating committee for honorary degree candidates; 3) Determine the salary of the President of the University and the President's direct reports. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The University's board of directors has delegated authority for the formal review of its Form 990 to the Audit Committee. The Audit Committee substantively reviewed the Form 990 prior to its filing. In addition, the University's independent CPA firm prepared the Form 990 and then reviewed it with the management team and with the audit committee. The University utilized this process to ensure that its Form 990 received substantive review by directors and professionals with specific knowledge of the University's activities and extensive financial, accounting, and tax expertise. A copy of the Form 990 is provided to the organization's governing body before it is filed with the IRS. |
| Form 990, Part VI, Line 12c Conflict of interest policy | The University has adopted a Conflict of Interest Policy that requires directors, officers and key employees to submit an annual conflict of interest disclosure. The annual disclosure requires directors, officers, and key employees to disclose, in writing, any known financial interest that the individual (together with family members) has in any business entity that transacts business with the University. In addition, directors, officers, and key employees are required to immediately disclose any possible conflict of interest that arises mid-year in relation to a proposed transaction. The Conflict of Interest Policy requires that any individual with a conflict be recused from the decision making process, that independent directors or committee members determine that the proposed transaction is in the best interests of the University, and the transaction must be approved by a vote of the independent directors or committee members without the participation of any interested individual. The annual conflict disclosure statements are submitted to, and reviewed by, the Audit Committee chairperson. In addition, the executive staff is responsible for monitoring any possible conflict transactions that arise and managing them to ensure that all transactions represent arms' length, fair market value terms for the benefit of the University. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | The University has adopted an Executive Compensation and Intermediate Sanctions Policy that ensures that all compensation arrangements with related parties are evaluated and entered at arms' length and that any compensation that is paid to a related party is reasonable and reflects fair market value. The Policy encourages the application of the rebuttable presumption standard of Code Section 4958 and the related Treasury Regulations by (a) excluding any interested party from the decision making process, (b) requiring disinterested board or committee members to obtain and rely upon comparability data when setting the proposed compensation terms, (c) requiring the approval of the transaction in advance by disinterested directors or committee members, and (d) requiring contemporaneous documentation (i.e. minutes) reflecting the decision and the process by which it was made. In the case of the President's compensation, the Executive Committee of the board of directors, composed entirely of independent outside directors, is responsible for ensuring that the process outlined above is applied. The process occurred in 2021. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees | The University has adopted an Executive Compensation and Intermediate Sanctions Policy that ensures that the compensation arrangement with the President is evaluated and entered at arms' length and that any compensation that is paid to the President is reasonable and reflects fair market value. The Policy encourages the application of the rebuttable presumption standard of Code Section 4958 and the related Treasury Regulations by (a) excluding any interested party from the decision making process, (b) requiring disinterested board or committee members to obtain and rely upon comparability data when setting the proposed compensation terms, (c) requiring the approval of the transaction in advance by disinterested directors or committee members, and (d) requiring contemporaneous documentation (i.e. minutes) reflecting the decision and the process by which it was made. In the case of other officers and key employees, the Executive Committee of the board of directors, composed entirely of independent outside directors, is responsible for ensuring that the process outlined above is applied. The process occurred in 2021. |
| Form 990, Part VI, Line 19 Required documents available to the public | The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request, either as printed or an electronic copy for the same period of disclosure as set forth in IRC section 6104(d). |
| Form 990, Part VIII, Line 2f Other Program Service Revenue | Conferences - Total Revenue: 155037, Related or Exempt Function Revenue: 155037, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Other - Total Revenue: 2360569, Related or Exempt Function Revenue: 2360569, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | Change in Fair Value of Interest Rate Swap Agreements - 47618; Change in Fair Value of Split-Interest Agreements - 39297; |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|
| Taylor Angel Fund LLC | ||||||||
| 236 West Read Ave | Upland | IN | 46989 | New business/research endeavors | IN | $0 | $0 | Taylor University |
| 1846 Real Estate 1809 Main Street LLC | ||||||||
| 236 WEST READ AVE | UPLAND | IN | 46989 | Real estate | IN | $110,488 | $1,958,708 | Taylor University |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Taylor University Foundation Inc | ||||||||||
| 236 W Reade Avenue | Upland | IN | 46989 | 356047122 | Support Taylor University | IN | 501(c)(3) | Type I | Taylor University | Yes (true) |
| Taylor University Broadcasting Inc | ||||||||||
| 1025 W Rudisill Boulevard | Fort Wayne | IN | 46807 | 351975367 | Christian Broadcasting | IN | 501(c)(3) | 7 | Taylor University | Yes (true) |
| 1846 Enterprises Inc | ||||||||||
| 236 W Reade Avenue | Upland | IN | 46989 | 833307764 | Support Taylor University | DE | 501(c)(3) | Type I | Taylor University | Yes (true) |
| TUCC Inc | ||||||||||
| 236 W Reade Avenue | Upland | IN | 46989 | 841943979 | Support Taylor University | DE | 501(c)(3) | Type I | Taylor University | Yes (true) |
| TUSO | ||||||||||
| 15 Center Meeting Road | Wilmington | DE | 19807 | 841953499 | Support Taylor University | DE | 501(c)(3) | Type I | TUCC Inc | Yes (true) |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (8 entries)
| Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Controlled OrganizationControlledOrganizationInd | Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN |
|---|---|---|---|---|---|---|---|---|---|
| Charitable Remainder Trusts (1) | |||||||||
| Charitable Trusts | CA | Taylor University | Trust | Yes (true) | |||||
| Charitable Remainder Trusts (1) | |||||||||
| Charitable Trusts | FL | Taylor University | Trust | Yes (true) | |||||
| Charitable Remainder Trusts (8) | |||||||||
| Charitable Trusts | IN | Taylor University | Trust | Yes (true) | |||||
| Charitable Remainder Trusts (2) | |||||||||
| Charitable Trusts | MI | Taylor University | Trust | Yes (true) | |||||
| Charitable Remainder Trusts (1) | |||||||||
| Charitable Trusts | MO | Taylor University | Trust | Yes (true) | |||||
| Charitable Remainder Trusts (1) | |||||||||
| Charitable Trusts | OH | Taylor University | Trust | Yes (true) | |||||
| Pooled Income Funds (2) | |||||||||
| Pooled Income Fund | DE | Taylor University | Trust | Yes (true) | |||||
| 1846 Real Estate Kershner Commons LLC | |||||||||
| Real estate | IN | 1846 Enterprises Inc | C Corporation | false | 236 West Reade Avenue | Upland | IN | 46989 | 320166204 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Taylor University Broadcasting Inc | ||
| P | $504,499 | Actual |
| Taylor University Foundation Inc | ||
| O | $64,000 | Per Agreement |