2022-04-06T22:11:17-05:00 2021-06-30 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2020-07-01 560657294 METHODIST UNIVERSITY INC METH 9106307000 5400 RAMSEY ST FAYETTEVILLE NC 28311 DAWN AUSBORN VP BUSINESS AFFAIRS 9106307000 2022-04-05 1 DAWN AUSBORN 999009999 YONG ZHANG CPA P01249785 7033366400 2022-04-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z STANLEY T WEARDEN 5400 RAMSEY ST FAYETTEVILLE NC 28311 90683564 0 X WWW.METHODIST.EDU X 1956 NC UNDERGRADUATE AND GRADUATE EDUCATION 31 30 1034 31 0 0 5966210 11646170 65913257 65414691 -317308 1860145 591530 744970 72153689 79665976 25325090 24164135 0 0 31017515 29245319 0 0 569607 17265422 15421819 73608027 68831273 -1454338 10834703 118191841 124289465 43667673 34918499 74524168 89370966 THE PURPOSE OF METHODIST UNIVERSITY IS TO PROVIDE AN UNDERGRADUATE & GRADUATE EDUCATION FIRMLY GROUNDED IN THE LIBERAL ARTS TRADITION, THAT NURTURES MORAL VALUES & ETHICAL DECISION-MAKING; TO PROVIDE DISTINCTIVE PROFESSIONAL & GRADUATE PROGRAMS THAT COMPLEMENT THE 0 0 54659821 24164135 56421577 POST SECONDARY EDUCATION: METHODIST UNIVERSITY PROVIDES BOTH UNDERGRADUATE & GRADUATE EDUCATION, FOUNDED IN LIBERAL ARTS, TO APPROXIMATELY 2100 STUDENTS. THE UNIVERSITY'S PROGRAMS ARE CONCENTRATED IN ARTS & HUMANITIES, SCIENCE & HUMAN DEVELOPMENT, BUSINESS, & GRADUATE STUDIES, AND BOAST NATIONALLY RENOWNED PROGRAMS SUCH AS THE PHYSICIAN ASSISTANT PROGRAM. THE UNIVERSITY IS A FULLY-ACCREDITED MEMBER OF THE SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS COMMISSION ON COLLEGES. 7745619 8993114 AUXILIARY SERVICES: THE UNIVERSITY'S AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS, DINING FACILITIES, AND A BOOKSTORE, SERVE TO PROVIDE A SUPPORT SYSTEM TO THE STUDENTS. 62405440 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 0 1 104 0 1 1034 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X DAWN AUSBORN 9106307000 5400 RAMSEY ST FAYETTEVILLE NC 28311 MR JOHN MAC HEALY CHAIR OF THE BOARD 1.00 X X 0 0 0 DR RAKESH GUPTA VICE CHAIR OF THE BOARD 1.00 X X 0 0 0 MR TIMOTHY TIM S RICHARDSON SECRETARY OF THE BOARD 1.00 X X 0 0 0 MRS JENNIFER CLEVELAND ELAM TREASURER OF THE BOARD 1.00 X X 0 0 0 DR RICHARD R ALLEN SR TRUSTEE 1.00 X 0 0 0 MR D KEITH ALLISON TRUSTEE 1.00 X 0 0 0 MR PETER M BROOME TRUSTEE 1.00 X 0 0 0 THE HONORABLE JOHN W BROWN TRUSTEE 1.00 X 0 0 0 DR MARY LYNN BRYAN TRUSTEE 1.00 X 0 0 0 MR A HOWARD BULLARD JR TRUSTEE 1.00 X 0 0 0 MS MARGARET HIGHSMITH DICKSON TRUSTEE 1.00 X 0 0 0 DR WILLIAM DICKSON SCHAEFER TRUSTEE 1.00 X 0 0 0 DR LOLETA WOOD FOSTER TRUSTEE 1.00 X 0 0 0 MR ROBERT J GLASER TRUSTEE 1.00 X 0 0 0 MR J DANIEL DANNY HIGHSMITH SR TRUSTEE 1.00 X 0 0 0 MR CHARLES B HOLMES TRUSTEE 1.00 X 0 0 0 MRS LINDA B HUFF TRUSTEE 1.00 X 0 0 0 MR EDWARD T TUNA KEIL TRUSTEE 1.00 X 0 0 0 MR EARL D LEAKE TRUSTEE 1.00 X 0 0 0 MR O RAY MANNING JR TRUSTEE 1.00 X 0 0 0 MR R WILLIFORD MCCAULEY TRUSTEE 1.00 X 0 0 0 MR GEORGE W MILLER JR TRUSTEE 1.00 X 0 0 0 MR ANDREW SHUCK TRUSTEE 1.00 X 0 0 0 MR ELTON STANLEY TRUSTEE 1.00 X 0 0 0 MR IRA M STEINGOLD ESQ TRUSTEE 1.00 X 0 0 0 MR JAMES J TOWNSEND TRUSTEE 1.00 X 0 0 0 MR W SCOTT WEATHINGTON TRUSTEE 1.00 X 0 0 0 MR WILLIAM BILL R WEST SR TRUSTEE 1.00 X 0 0 0 REV GILLIAM GIL P WISE TRUSTEE 1.00 X 0 0 0 DR HARVEY T WRIGHT II TRUSTEE 1.00 X 0 0 0 MR JOHN W JAY WYATT III TRUSTEE 1.00 X 0 0 0 MR RON B MATTHEWS TRUSTEE 1.00 X 0 0 0 STANLEY WEARDEN PRESIDENT 40.00 X 350199 0 24533 DAWN AUSBORN VP FOR BUS. AFFAIRS 40.00 X 142875 0 21054 WILLIAM WALKER VP FOR STUDENT AFFAIRS 40.00 X 98431 0 16245 RICK LOWE VP FOR ENROLLMENT SERVICES 40.00 X 109524 0 13347 DAVE EAVENSON VP ATHLETICS 40.00 X 82062 0 13738 KELLI TAYLOR VP FOR RELIGIOUS LIFE 40.00 X 92496 0 26632 SHEILA KINSEY VP FOR PLANNING & ADMIN 40.00 X 152272 0 38207 GREG SWANSON VP FOR ADVANCEMENT 40.00 X 195870 0 23673 BETH CARTER AVP FOR ACADEMIC AFFAIRS 40.00 X 99986 0 3513 SUZANNE BLUM-MALLEY PROVOST 40.00 X 230666 0 37390 DON LASSITER VP OF VPPE 40.00 X 108283 0 26133 TAT CHAN DEAN OF COLLEGE BUS 40.00 X 142586 0 4152 KIMBERLY SCRUTON ASSOC PROF OF MGMT 40.00 X 125376 0 13145 WARREN MCDONALD PROF OF HCA 40.00 X 113155 0 5104 MEREDITH GRONSKI DIRECTOR OTD PROGRAM 40.00 X 110074 0 5120 CHRISTINA PERRY DIRECTOR OF PA PROGRAM 40.00 X 109637 0 13166 2263492 0 285152 15 0 1 0 ARAMARK EDUCATIONAL SERVICES LLC 5400 RAMSEY STREET FAYETTEVILLE NC 28311 FOOD SERVICE 2187823 M & E CONTRACTING INC 1032 71ST SCHOOL ROAD FAYETTEVILLE NC 28314 CONSTRUCTION 742666 BRADY TRANE SERVICES 1915 CHURCH STREET GREENSBORO NC 27405 HVAC 431993 BOB MCCLOSKEY AGENCY LLC PO BOX 511 MATAWN NJ 07747 INSURANCE 261334 SYSTEL BUSINESS EQUIPMENT PO BOX 35870 FAYETTEVILLE NC 28303 COPIER LEASE AND SUPPLIES 151971 5 30830 9332767 2282573 123000 11646170 TUITION AND FEES 611310 56421576 56421576 DORM REVENUES 611310 5447924 5447924 BOARD REVENUES 611310 3346134 3346134 OTHER AUXILIARY REVENUES 611310 199057 199057 65414691 630867 630867 11882071 346268 10689180 309881 1192891 36387 1229278 1229278 7233 30830 18527 -11294 -11294 OTHER INCOME 900009 756264 756264 756264 79665976 65414691 0 2605115 24164135 24164135 2569644 1806775 645346 117523 21765537 19200793 2346738 218006 29536 27395 1943 198 3172476 2770317 361206 40953 1708126 1485396 184549 38181 114402 114402 78661 78661 40201 40201 108940 108940 715637 408791 306099 747 150332 75799 72303 2230 365238 305381 10271 49586 890206 320061 524374 45771 3483103 3352874 117743 12486 259666 247924 7259 4483 30157 25614 3687 856 73662 21090 52487 85 3655673 3399547 248846 7280 429011 327433 100495 1083 FOOD SVC CONTRACT 1839560 1839560 EQUIP RENTAL AND REPAIR 1064829 779964 282787 2078 SUPPLIES 990508 895216 89298 5994 GOLF SHOP COST OF GOODS 25625 25625 1106408 925750 158591 22067 68831273 62405440 5856226 569607 7162 7119 12697208 15545725 1600974 1061702 1605246 1488522 66015 0 16265 20922 910448 269214 138360956 59229305 78045473 79131651 21152052 23817981 1598158 2182451 0 332135 492840 432043 118191841 124289465 2536549 2508341 2968847 2789001 30086969 27950730 273902 247878 7801406 1422549 43667673 34918499 X 55187549 67257279 19336619 22113687 74524168 89370966 118191841 124289465 X 10834703 3733137 278958 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 40201 40201 0 PART II-B, LINE 1: THE UNIVERSITY PAID MEMBERSHIP DUES OF $40,201 TO NORTH CAROLINA INDEPENDENT COLLEGES & UNIVERSITIES (NCICU), A STATEWIDE ORGANIZATION COMPRISED OF INDEPENDENT COLLEGES ACCREDITED BY SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS, WHICH REPRESENTS HIGHER EDUCATION IN STATE & FEDERAL POLICY. 164614 X X 0 0 1 X 22757260 9728103 5595685 687868 1708370 100622 35584188 22191925 883570 889395 654266 453718 99646 22757260 22892894 758521 1289241 657559 1981347 109825 22191925 27694868 1694446 1658987 575817 7459252 120338 22892894 24095049 4237940 2137848 452000 2226085 97884 27694868 0.42790 0.41950 0.15260 1 0 97500 1518601 1616101 102816678 38196330 64620348 7980 7980 0 17836321 15114862 2721459 16083876 5910133 10173743 79131651 U.S GOVERNMENT ADVANCES FOR STUDENT LOANS 25080 INTEREST RATE SWAP LIABILITY 508874 STUDENT DEPOSITS 328960 OBLIGATIONS UNDER CAPITAL LEASE 559635 1422549 X 59423523 3733137 -23885177 -20152040 79575563 108940 -18527 90413 79665976 44576725 18527 18527 44558198 108940 24164135 24273075 68831273 PART III, LINE 4: THE UNIVERSITY MAINTAINS A FEW HISTORICAL COLLECTIONS WITHIN ITS LIBRARY, INCLUDING DRAWINGS, LETTERS, MONOGRAPHS, BOOKS & RECORDS. PART IV, LINE 2B: BANK ACCOUNT FOR STUDENT CLUBS & OTHER AFFILIATED GROUPS. PART V, LINE 4: THE INDENDED USES OF THE UNIVERSITY'S ENDOWMENT FUNDS ARE TO PROVIDE SCHOLARSHIPS TO STUDENTS AND CASH RESERVES TO THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISION OF THE INTERNAL TAXES TOPIC OF THE FASB ASC. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE REPORTED ON REVENUE -24,164,135. NET INCOME FROM MUDC 46,376. UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT 232,582. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE REPORTED ON LINE 8 -18,527. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE REPORTED ON LINE 8B 18,527. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE REPORTED ON REVENUE 24,164,135. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 METHODIST UNIVERSITY PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ANNUAL ACADEMIC CATALOG, ON ITS WEBSITE, AND IN ALL ADVERTISEMENTS & SOLICITATIONS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL AND STATE AID FOR STUDENT FINANCIAL AID AWARDS, AND FUNDS FOR THE CONSTRUCTION OF FACILITIES AND PURCHASE OF EQUIPMENT FOR THE UNIVERSITY'S EDUCATIONAL PROGRAMS. SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES HUMANITARIAN 20000 SOUTH ASIA 0 0 PROGRAM SERVICES HUMANITARIAN 10000 0 0 0 0 0 0 30000 0 30000 0 0 0 0 0 0 PART III ACCOUNTING METHOD: HOF GOLF TOURNAMENT 38063 30830 7233 0 14160 3630 133 604 38063 30830 7233 14160 3630 133 604 18527 -11294 1 TUITION ASSISTANCE 1292 24164135 PART I, LINE 2: GRANTS TO RECIPIENTS IN THE U.S. INCLUDED TUITION ASSISTANCE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 STANLEY WEARDEN PRESIDENT 343995 0 0 0 6204 0 10500 0 14033 0 374732 0 0 0 DAWN AUSBORN VP FOR BUS. AFFAIRS 142389 0 0 0 486 0 4508 0 16546 0 163929 0 0 0 SHEILA KINSEY VP FOR PLANNING & ADMIN 151240 0 0 0 1032 0 5258 0 32949 0 190479 0 0 0 GREG SWANSON VP FOR ADVANCEMENT 188795 0 0 0 7075 0 5940 0 17733 0 219543 0 0 0 SUZANNE BLUM-MALLEY PROVOST 210206 0 0 0 20460 0 7920 0 29470 0 268056 0 0 0 PART I, LINE 1A THE UNIVERSITY MAINTAINS A RESIDENTIAL HOME ON CAMPUS WHERE THE PRESIDENT LIVES AS A CONDITION OF EMPLOYMENT. THE UNIVERSITY PROVIDES PERSONAL SERVICES OF LIGHT HOUSEKEEPING, PERFORMED BY THE UNIVERSITY'S JANITORIAL STAFF AT THE RESIDENCE OF THE PRESIDENT. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65819GHL5 2012-08-29 17613130 FUND VARIOUS CAPITAL PROJECTS 0 0 0 B NC CAPITAL FACILITIES FINANCE AGENCY 561592154 NONEAVIAI 2014-10-23 22640000 REFUND SERIES 2005 BOND & FUND VARIOUS PROJECTS 0 0 0 A 17613130 1342500 9581476 349530 6339624 2013 1 0 1 1 B 22640000 17920000 220000 4500000 2016 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 1 1 BANK OF AMERICA 0 0 0 0 1 A 0 B 0 SYSTEL OFFICE AUTOMATION OWNED BY A TRUSTEE 130201 COPIER LEASE 0 X 8 106220 FMV X CAPITAL EQUIPMENT 4 16780 APPRAISAL 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REFLECTS A COMBINATION OF THE NUMBER OF CONTRIBUTORS AND THE NUMBER OF ITEMS DONATED. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED JOINTLY BY MANAGEMENT & THE EXTERNAL AUDIOTRS. IT IS REVIEWED BY MANAGEMENT & THE AUDIT COMMITTEE WITH THE EXTERNAL AUDITORS DURING THE REVIEW OF HTE AUDITED FINANCIAL STATEMENTS. THE AUDIT COMMITTEE RELAYS THE RESULTS OF THE REVIEW TO THE FULL BOARD AT THE NEXT BOARD MEETING, AND A COPY OF FORM 990 IS MADE AVAILABLE TO THE FULL BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY DISTRIUBTES ITS CONFLICT OF INTEREST POLICY & DISCLOSURE FORM TO ALL BOARD MEMBERS AND EMPLOYEES WITH BUDGET AUTHORITY, FOR REVIEW OF THE POLICY & COMPLETION OF THE QUESTIONNAIRE. A DESIGNATED COMMITTEE REVIEWS THE DISCLOSURE FORMS FOR POSSIBLE CONFLICTS OF INTEREST. ANY FINDINGS ARE SUBMITTED TO THE UNIVERSITY'S AUDIT COMMITTEE FOR REVIEW. THE UNIVERSITY GENERALLY PROHIBITS TRANSACTIONS WITH CONFLICT OF INTEREST PARTIES; HOWEVER, THE AUDIT COMMTTEE HAS THE AUTHORITY TO APPROVE CERTAIN TRANSACTIONS IN THE BEST INTEREST OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A THE UNIVERSITY'S PRESIDENTIAL SALARY COMMITTEE EVALUATES THE PRESIDENT'S SALARY ON AN ANNUAL BASIS UTILIZING COMPARABILITY DATA, INCLUDING SALARY & BENEFITS HISTORY FROM BOTH WITHIN THE UNIVERSITY & OTHER PRIVATE COLLEGES & UNIVERSITIES IN NC. THE PRESIDENTIAL SALARY COMMITTEE RECOMMENDS A SALARY FOR THE PRESIDENT TO THE UNIVERSITY'S FULL BOARD OF TRUSTEES. THE BOARD HOLDS AN EXECUTIVE SESSION TO VOTE & APPROVE THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS AVAILABLE ON THE UNIVERSITY'S WEBSITE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAP 232,582. NET INCOME FROM SUBSIDIARY 46,376. METHODIST UNIVERSITY DEVELOPMENT CORPORATION 5400 RAMSEY STREET FAYETTEVILLE NC 28311 561972859 REAL ESTATE DEVELOPMENT NC METHODIST UNIVERSITY C 267218 2789869 1.00000 1 1 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 METHODIST UNIVERSITY DEVELOPMENT CORPORATION A FMV METHODIST UNIVERSITY DEVELOPMENT CORPORATION J 160331 FMV METHODIST UNIVERSITY DEVELOPMENT CORPORATION K 186000 FMV