2025-05-07T10:43:20-05:00 2024-06-30 620647474 BLACKBURN CHILDERS & STEAGALL PLC 801B SUNSET DRIVE JOHNSON CITY TN 376043033 990 2023-07-01 561065978 MID-ATLANTIC CHRISTIAN UNIVERSITY MID- 2523342010 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 SARA SHEPHERD VP FOR FINANCE 2523342010 2025-05-07 1 1 SARAH PRESNELL P01269151 4232824511 2025-05-07 2023 2025-03-06 01:10:19Z SARA SHEPHERD 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 10172554 0 X WWW.MACUNIVERSITY.EDU X 1948 NC MID-ATLANTIC CHRISTIAN UNIVERSITY IS AN UNDERGRADUATE INSTITUTION OF CHRISTIAN HIGHER LEARNING WHOSE MISSION IS TO IMPACT THE WORLD BY TRANSFORMING ORDINARY PEOPLE INTO EXTRAORDINARY CHRISTIAN LEADERS. THE UNIVERSITY GRANTS BOTH TWO AND FOUR YEAR DEGREES. 22 21 133 0 0 0 1761408 1156241 2943177 3632443 6906 33870 0 5350000 4711491 10172554 647955 707061 0 0 2351616 2497050 0 0 294113 2797142 3270665 5796713 6474776 -1085222 3697778 9699641 12442388 5489375 4532373 4210266 7910015 X MID-ATLANTIC CHRISTIAN UNIVERSITY IS AN UNDERGRADUATE INSTITUTION OF CHRISTIAN HIGHER LEARNING WHOSE MISSION IS TO IMPACT THE WORLD BY TRANSFORMING ORDINARY PEOPLE INTO EXTRAORDINARY CHRISTIAN LEADERS. STUDENTS ARE TAUGHT TO THINK CRITICALLY AS THEY ENGAGE THEIR EDUCATIONAL EXPERIENCES IN THE CONTEXT OF HISTORICAL AND CONTEMPORARY IDEAS. STUDENTS ARE TAUGHT TO RESPECT ALL PERSONS AND TO ENGAGE IN THE LIFE-LONG PURSUIT OF LEARNING AND SERVICE. 0 0 4875915 707061 8982443 MID-ATLANTIC CHRISTIAN UNIVERSITY PROVIDED FORMAL INSTRUCTION AND RELATED ACADEMIC SUPPORT FOR NEARLY 200 STUDENTS BOTH ON-LINE AND ON-CAMPUS. THE UNIVERSITY OFFERS 20 DEGREE OPTIONS PREPARING STUDENTS FOR REWARDING CAREERS IN THE CHURCH AND IN THE MARKETPLACE. THE STUDENT-FACULTY RATIO IS 10:1, PROVIDING FOR PERSONALIZED ATTENTION AND ACADEMIC COUNSELING. 4875915 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 133 1 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X SARA E SHEPHERD VP FOR FINANCE 2523342010 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 GREGORY D HAND TRUSTEE 2.00 X 0 0 0 ROYCE E EVERETTE JR CHAIRMAN 2.00 X X 0 0 0 CONNIE M JENKS ASSISTANT SECRETARY 2.00 X X 0 0 0 GINNY AMBROSE TRUSTEE 2.00 X 0 0 0 LARRY D COOPER TRUSTEE 2.00 X 0 0 0 DARRELL L HAIRSTON TRUSTEE 2.00 X 0 0 0 MARK COFFEY TRUSTEE 2.00 X 0 0 0 WILLIAM C MCCRACKEN TRUSTEE 2.00 X 0 0 0 J CRAIG LEWIS VICE CHAIRMAN 2.00 X X 0 0 0 DAVID B PRESLEY TRUSTEE 2.00 X 0 0 0 JOHN COX TRUSTEE 2.00 X 0 0 0 DARYL REED TRUSTEE 2.00 X 0 0 0 JONITA D SHOAFF TRUSTEE 2.00 X 0 0 0 W KEITH TANKARD TRUSTEE 2.00 X 0 0 0 DONALD P CUMMINS TRUSTEE 2.00 X 0 0 0 STEVEN D WILEY TRUSTEE 2.00 X 0 0 0 SUSAN H LUEPTOW TRUSTEE 2.00 X 0 0 0 JOHN W MAURICE JR TRUSTEE 2.00 X 0 0 0 LARRY KING TRUSTEE 2.00 X 0 0 0 DYKE MCCORD TRUSTEE 2.00 X 0 0 0 CHRIS STANLEY TRUSTEE 2.00 X 0 0 0 JOHN W MAURICE PRESIDENT, MACU 40.00 X 59820 0 39038 SARA E SHEPHERD VP FOR FINANCE 40.00 X 84000 0 1688 ROBERT B ANGLES VP FOR STUDENT SERVICES 40.00 X 43083 0 29291 KEVIN W LARSEN VP FOR ACADEMIC AFFAIRS 40.00 X 72147 0 28785 BARRY C BELL DIRECTOR OF INSTITUTIONAL 40.00 X 30000 0 0 289050 0 98802 0 0 0 0 DWI ACQUISITION LLC 300 S KRUEGER STREET SURING WI 54174 RETAIL FURNITURE 393945 PMC COMMERCIAL INTERIORS 6781 PARKER FARM DRIVE SUITE 1B WILMINGTON NC 28405 RETAIL FURNITURE 371144 CDW GOVERNMENT 230 N MILWAUKEE AVE VERNON HILLS IL 60061 TECHNOLOGY 218295 METZ CULINARY MANAGEMENT 2 WOODLAND DRIVE DALLAS PA 18312 DINING SERVICES MANAGEMENT 183010 US FOODS 269 KINGS CT ALCOA TN 37701 DINING SERVICES 176756 7 102829 1053412 1156241 TUITION AND FEES 611710 1942037 1942037 AUXILIARY ENTERPRISES 611710 1664040 1664040 OTHER INCOME 611710 26366 26366 3632443 33870 33870 INSURANCE PROCEEDS - DAMAGES 900099 5350000 5350000 5350000 10172554 8982443 0 33870 707061 707061 373496 140562 202934 30000 1971409 1618117 289496 63796 152145 114109 31950 6086 1920 1920 87500 87500 511761 262197 172553 77011 38587 14460 24127 197052 157641 29558 9853 30261 22696 7565 193889 135723 48472 9694 18447 15680 1845 922 13919 11831 2088 462405 323683 115602 23120 488388 341872 122097 24419 120344 90258 30086 REPAIRS AND MAINTENANCE 366499 256549 91625 18325 CAFETERIA 268377 268377 ATHLETIC PROGRAMS 178920 134190 44730 OTHER 129192 101386 21046 6760 163204 159523 3681 6474776 4875915 1304748 294113 250490 676667 103163 113077 17850415 6389276 9173873 11461139 55368 59164 116747 132341 9699641 12442388 348304 125781 4769294 3834815 371777 571777 5489375 4532373 X 4142058 7847885 68208 62130 4210266 7910015 9699641 12442388 3697778 1971 0 X X 0 1 X 1 1 1 X 2073152 3094755 2475869 1761408 1156241 10561425 2073152 3094755 2475869 1761408 1156241 10561425 990442 9570983 3783 1689646 36009 6906 33870 1770214 5350000 5350000 17681639 17284400 0.54130 0.75180 X SCHEDULE A, PART I, LINES 2 AND 7 MID-ATLANTIC CHRISTIAN UNIVERSITY RECEIVED AN IRS DETERMINATION LETTER STATING THAT THE ORGANIZATION WAS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ADDITIONALLY, THE ORGANIZATION WAS ALSO DETERMINED NOT TO BE A PRIVATE FOUNDATION AS DEFINED IN SECTION 509(A) OF THE CODE BECAUSE IT WAS AN ORGANIZATION DESCRIBED IN SECTION 509(A)(1) AND SECTION 170(B)(1)(A)(II), WHICH IS IDENTIFIED IN SCHEDULE A, PART I, LINE 2 AS A SCHOOL. IT IS AN EDUCATIONAL ORGANIZATION WHICH NORMALLY MAINTAINS A REGULAR FACULTY AND CURRICULUM AND NORMALLY HAS A REGULARLY ENROLLED BODY OF PUPILS OR STUDENTS IN ATTENDANCE AT THE PLACE WHERE ITS EDUCATIONAL ACTIVITIES ARE REGULARLY CARRIED ON. PER THE 2013 INSTRUCTIONS FOR SCHEDULE B, SCHEDULE OF CONTRIBUTORS, THE INTERNAL REVENUE SERVICE HAS CLARIFIED THAT IN ORDER FOR THE UNIVERSITY TO REPORT ITS CONTRIBUTIONS UNDER THE SPECIAL RULE, THE ORGANIZATION MUST NOW CHECK BOX 7 OF SCHEDULE A, PART I, AND COMPLETE SCHEDULE A, PART II, SUPPORT SCHEDULE FOR ORGANIZATIONS DESCRIBED IN SECTIONS 170(B)(1)(A)(IV) AND 170(B)(1)(A)(VI). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3660816 72987 438190 102829 4069164 3318025 89886 364805 111900 3660816 4089235 124342 -301793 102625 3809159 3449145 74645 846712 281267 4089235 3502542 82032 -42289 93140 3449145 0.06682 0.78739 0.14579 0 0 218831 218831 14578495 5303099 9275396 3053089 1086177 1966912 11461139 DUE FROM URNA FOUNDATION 371777 LINE OF CREDIT 200000 571777 X 9881803 1971 517168 519139 9362664 809890 809890 10172554 5773706 5991 5991 5767715 707061 707061 6474776 PART V, LINE 4: THE PERMANENTLY RESTRICTED NET ASSETS ("ENDOWMENTS") ARE COMPOSED OF FUNDS RESTRICTED FOR SCHOLARSHIPS, FACULTY SCHOLARSHIPS, MISSIONS AND GENERAL USE. THE ENDOWMENTS REPRESENT FUNDS RECEIVED WITH DONOR IMPOSED STIPULATIONS THAT THEY BE MAINTAINED IN PERPETUITY BY THE UNIVERSITY. THE UNIVERSITY DETERMINES NET ASSET CLASSIFICATION AND ENDOWMENT SPENDING POLICY IN ACCORDANCE WITH THE HISTORIC DOLLAR VALUE OF THE GIFTS THAT CREATED THE ENDOWMENTS. PART X, LINE 2: NOTE 14 - UNCERTAIN TAXES THE UNIVERSITY FOLLOWS FASB ASC, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2024 AND 2023, THE UNIVERSITY HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. THE UNIVERSITY'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE CONSOLIDATED FINANCIAL STATEMENTS. NO INTEREST OR PENALTIES WERE RECORDED DURING THE YEARS ENDED JUNE 30, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. 517,168. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS OFFSETTING STUDENT TUITION AND FEES 707,061. GRANT FROM MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. 102,829. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF MID-ATLANTIC CHRISTIAN UNIVERSITY 5,991. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS OFFSETTING STUDENT TUITION AND FEES 707,061. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLISHED IN THE UNIVERSITY CATALOG, NEWSLETTERS, THE MID-ATLANTIC CHRISTIAN UNIVERSITY WEBSITE, ADMISSIONS, STUDENT APPLICATIONS, EMPLOYMENT APPLICATIONS, AND SOLICITATIONS. SCHEDULE E, PART I, LINE 6 MID-ATLANTIC CHRISTIAN UNIVERSITY PARTICIPATES IN THE TITLE IV STUDENT FINANCIAL AID PROGRAMS OF THE UNITED STATES DEPARTMENT OF EDUCATION. THE UNIVERSITY ALSO RECEIVES ASSISTANCE FROM THE NORTH CAROLINA NEED-BASED SCHOLARSHIP. 1 FINANCIAL PLANNING MINISTRY 2010 MAIN STREET IRVINE CA 926147265 A PROGRAM TO ASSIST IN "PLANNED GIVING" BY SETTING UP AN EST 0 0 0 0 NC SCHEDULE G, PART I, LINE 2B, COLUMN (V) FINANCIAL PLANNING MINISTRY'S PROGRAM IS TO ASSIST IN "PLANNED GIVING" BY SETTING UP AN ESTATE PLAN. THE OVERALL ARCH IS "FUNDRAISING" THROUGH PLANNED GIVING. 1 CASH GRANTS/SCHOLARSHIPS WERE MADE FOR STUDENTS ATTENDING MID-ATLANTIC CHRISTIAN UNIVERSITY IN PASQUOTANK COUNTY, NORTH CAROLINA. 129 707061 CASH PAID N/A PART I, LINE 2: THE UNIVERSITY DOES NOT GIVE ANY NON-CASH SCHOLARSHIPS. SCHOLARSHIPS ARE DISBURSED TO STUDENTS THROUGH CREDITING THEIR STUDENT ACCOUNTS. IF THE STUDENT HAS EXCESS SCHOLARSHIP FUNDS AS THE RESULT OF TITLE IV AID, THEN THESE FUNDS ARE AUTOMATICALLY DISBURSED TO THE STUDENT BY CHECK WITHIN FOURTEEN DAYS. IF THE EXCESS FUNDS ARE THE RESULT OF SOMETHING OTHER THAN TITLE IV AID, THE STUDENT MUST REQUEST A REFUND AND THESE FUNDS ARE DISBURSED TO THE STUDENT BY CHECK. THE UNIVERSITY'S PROCEDURES FOR MONITORING GRANT FUNDS IN THE U.S. ARE AS FOLLOWS: THE UNIVERSITY HAS APPOINTED DIRECTORS, WHO REPORT TO THE APPROPRIATE VICE PRESIDENTS OVER ALL FEDERAL GRANT PROGRAMS. THESE DIRECTORS ARE CHARGED WITH PERFORMING ALL GRANT-RELATED ACTIVITIES INCLUDING APPLICATION, MONITORING OF EXPENDITURES AND REPORTING, WITH THE EXCEPTION OF DRAW-DOWNS OF FEDERAL FUNDS. DRAW-DOWNS ARE PERFORMED BY THE UNIVERSITY'S CONTROLLER AFTER REQUESTS ARE MADE BY THE DIRECTOR TO THE CONTROLLER. THE CONTROLLER REVIEWS THE REQUESTS FOR DRAW-DOWNS, WHICH INCLUDE DOCUMENTATION OF ALL DIRECT AND INDIRECT PROGRAM EXPENSES, BEFORE MAKING THE DRAW-DOWNS. A SINGLE AUDIT IS PERFORMED ANNUALLY BY THE UNIVERSITY'S INDEPENDENT AUDITORS. FORM 990, PART VI, SECTION B, LINE 11B A COMPLETE COPY OF THE UNIVERSITY'S FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE INTERNAL REVENUE SERVICE, WAS PROVIDED TO EACH PERSON WHO WAS A VOTING MEMBER OF THE GOVERNING BODY AT THE TIME THE FORM 990 WAS PROVIDED, WHETHER IN PAPER OR ELECTRONIC FORM, BEFORE ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THIS IS REVIEWED ANNUALLY AT THE MEETING OF THE FINANCE COMMITTEE AND OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE POLICY ON THE PROCESS FOR DETERMINING COMPENSATION OF ANY EMPLOYEE MAKING OVER $100,000 OR THE HIGHEST PAID EMPLOYEE APPROACHING THAT AMOUNT, APPLIES TO THE COMPENSATION OF THE FOLLOWING PERSON(S) EMPLOYED BY MID-ATLANTIC CHRISTIAN UNIVERSITY: THE CHIEF EMPLOYED EXECUTIVE. AS OF THIS TIME, THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES RECEIVING COMPENSATION AT THAT LEVEL. THE PROCESS INCLUDES ALL OF THESE ELEMENTS: 1. REVIEW AND APPROVAL. THE COMPENSATION OF THE PERSON(S) IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OR EXECUTIVE COMMITTEE OF THE UNIVERSITY, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION OF THE PERSON(S) IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. 3. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THIS IS ACCOMPLISHED BY HAVING THE PUBLIC CONTACT THE CHIEF FINANCIAL OFFICER. FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING THE FINANCE COMMITTEE AND THE AUDIT COMMITTEE ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT, AND THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION INC 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 561467140 MAKING GRANTS TO MID-ATLANTIC CHRISTIAN UNIVERSITY FOR SCHOLARSHIP FUNDING NC 501(C)(3) LINE 12B, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 MID-ATLANTIC CHRISTIAN UNIVERSITY C 102829 CASH RECEIVED FOUNDATION INC GAVE MID-ATLANTIC CHRISTIAN UNIVERSITY GRANTS FOR FUNDING STUDENT AND FACULTY SCHOLAR- SHIPS AND FOR INSTITUTIONAL OPERA- TIONS (GENERAL FUND LIBRARY ETC) PAID EMPLOYEES OF MID-ATLANTIC L CHRISTIAN UNIVERSITY PERFORM FUNDRAISING SOLICITATION FOR MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION INC MID-ATLANTIC CHRISTIAN UNIVERSITY AND N MID-ATLANTIC CHRISTIAN UNIVERSITY FOUND- ATION INC SHARE FACILITIES EQUIPMENT AND MAILING LISTS MID-ATLANTIC CHRISTIAN UNIVERSITY SHARES O PAID EMPLOYEES WITH MID-ATLANTIC CHRIST- IAN UNIVERSITY FOUNDATION INC WHICH HAS NO PAID EMPLOYEES