CHOWAN UNIVERSITY: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- CHOWAN UNIVERSITY (EIN 56-0554199)
- Tax period
- 2020-06-01 to 2021-05-31
- Filed
- 2022-04-13
- IRS object ID
- 202201039349300835
- Schema version
- 2020v4.2
- 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 I
- Schedule J
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-04-13T12:18:09-05:00 | ReturnTs |
| Tax Period End | 2021-05-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 ROUNDABOUT COURT | AddressLine1Txt |
| City | ROCKY MOUNT | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27804 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-06-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560554199 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHOWAN UNIVERSITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CHOW | BusinessNameControlTxt |
| Phone | 2523986500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE UNIVERSITY PLACE | AddressLine1Txt |
| City | MURFREESBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27855 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANNY R DAVIS | PersonNm |
| Person Title | VP BUSINESS & FINANCE | PersonTitleTxt |
| Phone | 2523986500 | PhoneNum |
| Signature | 2022-04-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DANNY | PersonFirstNm |
| Person Last | DAVIS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | STEPHEN BARNES | PreparerPersonNm |
| PTIN | P01221998 | PTIN |
| Phone | 2524460111 | PhoneNum |
| Preparation | 2022-04-07 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KIRK PETERSON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE UNIVERSITY PLACE | AddressLine1Txt |
| City | MURFREESBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27855 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $56,171,166 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.CHOWAN.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1849 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | INSTITUTION OF PRIVATE HIGHER EDUCATION PROVIDING UNDERGRADUATE AND GRADUATE CURRICULUMS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 39 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 38 | VotingMembersIndependentCnt |
| Total Employee | 646 | TotalEmployeeCnt |
| Total Volunteers | 43 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,926,523 | PYContributionsGrantsAmt |
| CY Contributions Grants | $8,277,108 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $38,957,319 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $34,710,205 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,027,539 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,902,024 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,936,840 | PYOtherRevenueAmt |
| CY Other Revenue | $130,949 | CYOtherRevenueAmt |
| PY Total Revenue | $49,848,221 | PYTotalRevenueAmt |
| CY Total Revenue | $45,020,286 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,304,866 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $14,883,865 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $14,060,779 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $13,066,323 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $713,704 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $13,422,618 | PYOtherExpensesAmt |
| CY Other Expenses | $13,900,082 | CYOtherExpensesAmt |
| PY Total Expenses | $44,788,263 | PYTotalExpensesAmt |
| CY Total Expenses | $41,850,270 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,059,958 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,170,016 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $91,084,339 | TotalAssetsBOYAmt |
| Total Assets EOY | $98,045,525 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $13,926,008 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $12,810,003 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $77,158,331 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $85,235,522 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | CHOWAN UNIVERSITY IS A COMPREHENSIVE COEDUCATIONAL INSTITUTION COMMITTED TO EXCELLENCE IN TEACHING, LEARNING, SCHOLARLY INQUIRY, AND SERVICE. THE UNIVERSITY PROVIDES THE ENVIRONMENT FOR STUDENTS TO BECOME LEARNERS WHO POSSESS THE SKILLS, KNOWLEDGE, CREATIVITY, AND ETHICAL VALUES NECESSARY TO SURVIVE AND FLOURISH IN A RAPIDLY CHANGING, CULTURALLY DIVERSE, GLOBAL SOCIETY. CHOWAN UNIVERSITY, AS A CHURCH-RELATED INSTITUTION, WAS FOUNDED UPON AND IS DEDICATED TO JUDEO-CHRISTIAN VALUES. CONSISTENT WITH THIS HERITAGE, THE UNIVERSITY IS GUIDED BY THE HISTORIC PRINCIPLES OF RELIGIOUS AND INTELLECTUAL FREEDOM, ACADEMIC EXCELLENCE, THE DIGNITY AND WORTH OF EACH INDIVIDUAL, AN ATMOSPHERE OF OPEN DIALOGUE, FREEDOM OF INQUIRY AND EXPRESSION, AND A MORAL COMMITMENT TO THE PURSUIT OF TRUTH. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $33,925,674 | ExpenseAmt |
| Grant | $14,883,865 | GrantAmt |
| Revenue | $34,710,205 | RevenueAmt |
| Desc | CHOWAN UNIVERSITY IS A COMPREHENSIVE, COEDUCATIONAL, RESIDENTIAL UNIVERSITY WITH BOTH UNDERGRADUATE AND GRADUATE PROGRAMS. THE UNIVERSITY OFFERS A VARIETY OF ACADEMIC PROGRAMS WITH A LIBERAL ARTS BASIS IN CAREER-ORIENTED FIELDS SUCH AS BUSINESS, TEACHER EDUCATION, CRIMINAL JUSTICE, ETC. IN ALL, THE UNIVERSITY OFFERS DEGREES IN 32 PROGRAMS. STUDENTS PARTICIPATE IN, AND ARE EXPOSED TO, VARIOUS CULTURAL ARTS PROGRAMS AND EVENTS. THEY ARE ALSO ENCOURAGED TO BE INVOLVED IN COMMUNITY AND VOLUNTEER PROGRAMS.THE UNIVERSITY OFFERS VARIOUS STYLES OF STUDENT HOUSING FOR RESIDENTIAL STUDENTS. RESIDENTIAL STUDENTS RECEIVE TRAINING AND PROGRAMING FROM THE RESIDENCE LIFE STAFF. ATHLETIC AND INTRAMURAL PARTICIPATION IS ANOTHER IMPORTANT COMPONENT IN THE LEARNING AND EDUCATION EXPERIENCE.THE UNIVERSITY SERVED APPROXIMATELY 1129 STUDENTS IN ITS TRADITIONAL UNDERGRADUATE PROGRAM DURING THE ACADEMIC YEAR. OF THESE, APPROXIMATELY 956 WERE RESIDENTIAL STUDENTS. IN ADDITION TO THE TRADITIONAL UNDERGRADUATE STUDENTS, THE UNIVERSITY SERVED APPROXIMATELY 7 UNDERGRADUATE ADULT DEGREE PROGRAM STUDENTS AND 13 GRADUATE PROGRAM STUDENTS. THE UNIVERSITY HAD APPROXIMATELY 199 STUDENTS COMPLETE THEIR PROGRAM STUDIES DURING THE YEAR. | Desc |
| Total Program Service Expenses | $33,925,674 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | Yes (1) | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 41 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 646 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 39 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 38 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DANNY R DAVIS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2523986500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE UNIVERSITY PLACE | AddressLine1Txt |
| City | MURFREESBORO | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 27855 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (51 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| HAROLD W BABB | ||||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| SHIRLEY B BROWN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BETTY R DUKE | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RONALD L HICKS | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LLOYD L HILL | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES T JOHNSON JR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| SARAH VIRGINIA PARKER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ANTHONY M RAWLINGS SR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DEBORAH B VINSON | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KEMPER W BAKER | ||||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| LYNETTE BUNCH | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RAY FELTON | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ELAINE E MYERS | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MILTON OUTTEN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| WALTER F PIERCE | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHARLES B POND III | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| HARVEY W REINHARDT | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| W FRANK ROSE JR | ||||||||
| CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| HUGH C VINCENT JR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MARY ANNE CROOM | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES M EASON | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| AUSTINE O EVANS | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MIKE HENDLEY | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES W MASON | ||||||||
| VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| JESSE E VAUGHAN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LINDA B WEAVER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| GARRY WHITAKER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STANLEY E DIXON JR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MILEY W GLOVER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CECIL S HOLLOMON JR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BILLY R HOWELL | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JULIAN R MILLS SR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JANE E NEWSOME | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ROBBIE PARKER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LISA L TURNER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BARRY E WHITAKER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JANE BURKE | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MATTHEW B GLOVER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LAWRENCE P HOLLISTER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BUTCH WILSON | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DONNIE O CLARY | ||||||||
| ASST. CORP SEC./V. CHANC. | 30.00 | Yes (X) | $72,636 | $0 | $14,145 | |||
| DANNY B MOORE | ||||||||
| RECORDING SECRETARY/PROVOST | 40.00 | Yes (X) | $212,600 | $0 | $15,306 | |||
| DANNY R DAVIS | ||||||||
| CORP. SEC./VP BUS. | 40.00 | Yes (X) | $171,948 | $0 | $29,673 | |||
| KIRK E PETERSON | ||||||||
| PRESIDENT | 40.00 | Yes (X) | $217,356 | $0 | $35,081 | |||
| CHARLES L REVELLE III | ||||||||
| GENERAL COUNCIL | 5.00 | Yes (X) | $76,500 | $0 | $0 | |||
| JAMES R HOWELL | ||||||||
| ASST. VP ACAD. AFFAIRS | 40.00 | $111,548 | $0 | $26,049 | Yes (X) | |||
| BRENDA TINKHAM | ||||||||
| ASSOCIAT PROVOST | 40.00 | $103,850 | $0 | $9,338 | Yes (X) | |||
| JOHN DILUSTRO | ||||||||
| ASSOCIAT PROVOST | 40.00 | $106,956 | $0 | $30,934 | Yes (X) | |||
| MONTROSE STREETER | ||||||||
| V.P. STUDENT DEV. | 40.00 | $129,827 | $0 | $16,855 | Yes (X) | |||
| JOHN M TAYLOE | ||||||||
| EXEC. DIR. OF MAJOR GIFTS AND PLANNED GIVING | 40.00 | $102,378 | $0 | $14,652 | Yes (X) | |||
| M CHRISTOPHER WHITE | ||||||||
| FORMER CHANCELLOR | 30.00 | $153,267 | $0 | $11,179 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,458,866 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $203,212 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 11 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PIONEER COLLEGE CATERERS | |||||
| 303 GLENROSE AVE | NASHVILLE | TN | 37210 | FOOD SERVICE PROVIDER | $1,804,988 |
| JENZABAR J1 ADMIN | |||||
| PO BOX 845939 | BOSTON | MA | 022845588 | COMPUTER SOFTWARE PROVIDER | $1,522,963 |
| FOLLETT CAMPUS RESOURCES | |||||
| PO BOX 96773 | CHICAGO | IL | 606936773 | BOOKSTORE CONTRACTOR | $633,462 |
| ARAMARK CORPORATION | |||||
| 24818 NETWORK PLACE | CHICAGO | IL | 60673 | HOUSEKEEPING CONTRACTOR | $589,665 |
| BSN SPORTS | |||||
| PO BOX 49 | JENKINTOWN | PA | 19046 | SPORTING FACILITIES CONTRACTOR | $407,220 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 20 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $5,183,450 | GovernmentGrantsAmt |
| All Other Contributions | $3,093,658 | AllOtherContributionsAmt |
| Noncash Contributions | $382,194 | NoncashContributionsAmt |
| Total Contributions | $8,277,108 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611710 | $26,276,177 | $26,276,177 |
| AUXILIARY ENTERPRI | 611710 | $8,434,028 | $8,434,028 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $34,710,205 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $659,867 | TotalRevenueColumnAmt |
| Exclusion | $659,867 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $34,003 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $34,003 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $34,003 | TotalRevenueColumnAmt |
| Exclusion | $34,003 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $12,393,037 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $11,023,912 | SecuritiesAmt |
| Other | $126,968 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,369,125 | SecuritiesAmt |
| Other | -$126,968 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,242,157 | TotalRevenueColumnAmt |
| Exclusion | $1,242,157 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISC. | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $96,946 | TotalRevenueColumnAmt |
| Exclusion | $96,946 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $96,946 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $45,020,286 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $34,710,205 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,032,973 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,883,865 | TotalAmt |
| Program Services | $14,883,865 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $904,307 | TotalAmt |
| Management And General | $904,307 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,753,474 | TotalAmt |
| Program Services | $8,026,663 | ProgramServicesAmt |
| Management And General | $1,226,401 | ManagementAndGeneralAmt |
| Fundraising | $500,410 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $394,978 | TotalAmt |
| Program Services | $300,283 | ProgramServicesAmt |
| Management And General | $76,289 | ManagementAndGeneralAmt |
| Fundraising | $18,406 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,291,432 | TotalAmt |
| Program Services | $965,405 | ProgramServicesAmt |
| Management And General | $266,852 | ManagementAndGeneralAmt |
| Fundraising | $59,175 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $722,132 | TotalAmt |
| Program Services | $557,106 | ProgramServicesAmt |
| Management And General | $130,878 | ManagementAndGeneralAmt |
| Fundraising | $34,148 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,631 | TotalAmt |
| Management And General | $142,631 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $84,622 | TotalAmt |
| Management And General | $84,622 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,337,881 | TotalAmt |
| Program Services | $3,135,937 | ProgramServicesAmt |
| Management And General | $173,335 | ManagementAndGeneralAmt |
| Fundraising | $28,609 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,181 | TotalAmt |
| Fundraising | $2,181 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,092,445 | TotalAmt |
| Program Services | $1,009,605 | ProgramServicesAmt |
| Management And General | $82,840 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $403,221 | TotalAmt |
| Program Services | $381,888 | ProgramServicesAmt |
| Management And General | $16,069 | ManagementAndGeneralAmt |
| Fundraising | $5,264 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,034 | TotalAmt |
| Management And General | $3,816 | ManagementAndGeneralAmt |
| Fundraising | $218 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $324,362 | TotalAmt |
| Program Services | $310,155 | ProgramServicesAmt |
| Management And General | $14,207 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,811,031 | TotalAmt |
| Program Services | $2,687,908 | ProgramServicesAmt |
| Management And General | $123,123 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $693,187 | TotalAmt |
| Program Services | $162,449 | ProgramServicesAmt |
| Management And General | $530,738 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| REPAIRS & MAINTENANCE | $627,189 | $165,007 | $462,182 | |
| SUPPLIES | $586,597 | $500,343 | $78,883 | $7,371 |
| BAD DEBTS | $468,390 | $468,390 | ||
| ALLOCATION OF INTERNAL | $311,246 | $262,841 | $3,051 | $45,354 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,011,065 | TotalAmt |
| Program Services | $576,219 | ProgramServicesAmt |
| Management And General | $2,422,278 | ManagementAndGeneralAmt |
| Fundraising | $12,568 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,850,270 | TotalAmt |
| Program Services | $33,925,674 | ProgramServicesAmt |
| Management And General | $7,210,892 | ManagementAndGeneralAmt |
| Fundraising | $713,704 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,569,495 | BOYAmt |
| EOY | $6,368,577 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,686,532 | BOYAmt |
| EOY | $9,189,029 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $582,584 | BOYAmt |
| EOY | $986,305 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $661,333 | BOYAmt |
| EOY | $615,600 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $103,676 | BOYAmt |
| EOY | $119,706 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $322,003 | BOYAmt |
| EOY | $445,709 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $91,839,780 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $46,272,823 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,342,994 | BOYAmt |
| EOY | $45,566,957 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,017,910 | BOYAmt |
| EOY | $30,706,799 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,111,376 | BOYAmt |
| EOY | $2,458,025 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,686,436 | BOYAmt |
| EOY | $1,588,818 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,084,339 | BOYAmt |
| EOY | $98,045,525 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,415,576 | BOYAmt |
| EOY | $1,534,913 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,083,972 | BOYAmt |
| EOY | $331,801 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,857,683 | BOYAmt |
| EOY | $8,398,922 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,529,762 | BOYAmt |
| EOY | $2,529,762 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,015 | BOYAmt |
| EOY | $14,605 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,926,008 | BOYAmt |
| EOY | $12,810,003 | 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 | $48,508,151 | BOYAmt |
| EOY | $49,438,069 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,650,180 | BOYAmt |
| EOY | $35,797,453 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,158,331 | BOYAmt |
| EOY | $85,235,522 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,084,339 | BOYAmt |
| EOY | $98,045,525 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,170,016 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $4,560,526 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $346,649 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
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
Art Public Exhibition Amounts ArtPublicExhibitionAmountsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Revenues Included | $0 | RevenuesIncludedAmt |
| Assets Included | $946,396 | AssetsIncludedAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
| Solicited Assets Sale | 0 | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $27,186,001 | BeginningYearBalanceAmt |
| Contributions | $535,374 | ContributionsAmt |
| Investment Earnings Or Losses | $6,763,011 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,208,500 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $84,622 | AdministrativeExpensesAmt |
| End Year Balance | $33,191,264 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $26,183,183 | BeginningYearBalanceAmt |
| Contributions | $458,226 | ContributionsAmt |
| Investment Earnings Or Losses | $1,823,749 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,195,900 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $83,257 | AdministrativeExpensesAmt |
| End Year Balance | $27,186,001 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $26,068,253 | BeginningYearBalanceAmt |
| Contributions | $725,695 | ContributionsAmt |
| Investment Earnings Or Losses | -$30,723 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $500,000 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $80,042 | AdministrativeExpensesAmt |
| End Year Balance | $26,183,183 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $26,085,049 | BeginningYearBalanceAmt |
| Contributions | $386,540 | ContributionsAmt |
| Investment Earnings Or Losses | $819,288 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,142,000 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $80,624 | AdministrativeExpensesAmt |
| End Year Balance | $26,068,253 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $24,284,721 | BeginningYearBalanceAmt |
| Contributions | $533,849 | ContributionsAmt |
| Investment Earnings Or Losses | $2,409,880 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,065,400 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $78,001 | AdministrativeExpensesAmt |
| End Year Balance | $26,085,049 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.00000 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.73600 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.26400 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (1) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $2,167,397 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $10,064,590 | OtherCostOrOtherBasisAmt |
| Book Value | $12,231,987 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $54,500,761 | OtherCostOrOtherBasisAmt |
| Depreciation | $24,919,894 | DepreciationAmt |
| Book Value | $29,580,867 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,229,805 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,094,567 | DepreciationAmt |
| Book Value | $2,135,238 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,877,227 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,258,362 | DepreciationAmt |
| Book Value | $1,618,865 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $45,566,957 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FEDERAL CAPITAL CONTRIBUTIONS | Desc |
| Amt | $14,605 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $14,605 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $34,590,704 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $4,560,526 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$14,883,865 | OtherRevenueAmt |
| Revenue Not Reported | -$10,323,339 | RevenueNotReportedAmt |
| Revenue Subtotal | $44,914,043 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $84,622 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $21,621 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $106,243 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $45,020,286 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $26,860,162 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $26,860,162 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $84,622 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $14,905,486 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $14,990,108 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $41,850,270 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART III, LINE 4: | THE UNIVERSITY'S COLLECTIBLES CONSIST PRIMARILY OF PAINTINGS, JEWELRY AND FURNITURE AND ARE AVAILABLE FOR PUBLIC EXHIBITION AND PRESERVATION FOR FUTURE GENERATIONS. |
| PART V, LINE 4: | EARNINGS FROM THE ENDOWMENT FUNDS ARE AVAILABLE FOR THE PURPOSE SPECIFIED IN THE DONOR'S AGREEMENT, PRIMARILY SCHOLARSHIP ALLOWANCES TO STUDENTS AND SUPPORT TO UNIVERSITY PROGRAMS. |
| PART X, LINE 2: | MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARD BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC). |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | SCHOLARSHIP ALLOWANCES -14,883,865. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | NONCASH DONATIONS NOT RECORDED TO AUDITED FINANCIAL STATEMENTS 21,621. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIP ALLOWANCES 14,883,865. NONCASH DONATIONS NOT RECORDED TO AUDITED FINANCIAL STATEMENTS 21,621. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE FOLLOWING IS PUBLISHED IN THE UNIVERSITY CATALOG AND IS REFLECTED ON THE UNIVERSITY'S WEBSITE: CHOWAN UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, NATIONAL ORIGIN, SEX, DISABILITY, GENETIC INFORMATION, OR AGE IN ITS PROGRAMS AND ACTIVITIES. THE FOLLOWING IS REFLECTED ON THE ADMISSIONS WEBPAGE: CHOWAN UNIVERSITY IS COMMITTED TO ITS RESPONSIBILITY AS A LIBERAL ARTS UNIVERSITY WITHIN THE CONTEXT OF THE CHRISTIAN FAITH. IT SEEKS TO ENROLL STUDENTS FROM A VARIETY OF RACIAL, ECONOMIC, SOCIAL, RELIGIOUS, AND GEOGRAPHIC BACKGROUNDS. |
| SCHEDULE E, PART I, LINE 6 | CHOWAN UNIVERSITY RECEIVES FEDERAL AND STATE GRANTS FOR STUDENT SCHOLARSHIP ASSISTANCE. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| FEDERAL GRANTS | 145 | $327,551 |
| INSTITUTIONAL SCHOLARSHIPS | 1140 | $14,556,314 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | STUDENTS ARE REQUIRED TO COMPLETE A FAFSA. APPLICABLE FEDERAL AND STATE GUIDELINES, THE STUDENT'S ACADEMIC CREDENTIALS, AND FINANCIAL NEED DETERMINE A STUDENT'S ELIGIBILITY FOR SCHOLARSHIPS. STUDENTS ARE APPROPRIATELY AWARDED SCHOLARSHIPS IN THE FINANCIAL AID OFFICE AND THE AWARDS ARE TRANSFERRED TO THE STUDENTS' ACCOUNTS IN THE BUSINESS OFFICE. ALL SCHOLARSHIP AND GRANT FUNDS ARE RECONCILED EACH SEMESTER AND REPORTED TO THE APPROPRIATE AUTHORITIES OR AGENCIES. FUNDS ARE ALSO AUDITED ANNUALLY. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KIRK E PETERSON | ||||||||||||||
| PRESIDENT | $217,356 | $0 | $0 | $0 | $0 | $0 | $11,250 | $0 | $23,831 | $0 | $252,437 | $0 | $0 | $0 |
| DANNY B MOORE | ||||||||||||||
| RECORDING SECRETARY/PROVOST | $212,600 | $0 | $0 | $0 | $0 | $0 | $10,750 | $0 | $4,556 | $0 | $227,906 | $0 | $0 | $0 |
| DANNY R DAVIS | ||||||||||||||
| CORP. SEC./VP BUS. | $171,948 | $0 | $0 | $0 | $0 | $0 | $9,000 | $0 | $20,673 | $0 | $201,621 | $0 | $0 | $0 |
| M CHRISTOPHER WHITE | ||||||||||||||
| FORMER CHANCELLOR | $53,267 | $0 | $0 | $0 | $100,000 | $0 | $2,083 | $0 | $9,096 | $0 | $164,446 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | THE UNIVERSITY PROVIDES HOUSING ON PREMISES FOR ITS PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. THE PRESIDENT IS REQUIRED TO ACCEPT THE LODGING IN ORDER TO PROPERLY PERFORM THE DUTIES OF HIS EMPLOYMENT. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME. IN ADDITION, THE UNIVERISTY PROVIDES MEMBERSHIP TO A LOCAL SOCIAL CLUB FOR THE PRESIDENT PRIMARILY FOR MARKETING AND FUNDRAISING PURPOSES. |
| PART I, LINE 4A | M. CHRISTOPHER WHITE RETIRED EFFECTIVE 5/31/20 AND RECEIVED $100,000 PAYOUT FOR REMAINING YEAR OF A 3 YEAR CONTRACT. THIS AMOUNT IS INCLUDED IN REPORTABLE COMPENSATION AND REPORTED ON SCH J COLUMN (B)(III) OTHER REPORTABLE COMPENSATION. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BOYETTE ROBERTSON INSURANCE AGENCY | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | TRUSTEE | RelationshipDescriptionTxt |
| Transaction | $280,510 | TransactionAmt |
| Transaction | INSURANCE POLICY: WALT PIERCE IS A TRUSTEE WHO IS A PART OWNER OF BOYETTE ROBERTSON INSURANCE AGENCY WHICH PERFORMED INSURANCE SERVICES IN THE AMOUNT OF $280,510.TRUSTEES ARE COVERED BY THE COLLEGE'S CONFLICT OF INTEREST POLICY. THE COLLEGE BELIEVES THAT ALL PAYMENTS ARE AT MARKET VALUE. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule M IRS990ScheduleM
Clothing And Household Goods ClothingAndHouseholdGoodsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Noncash Contributions Rpt F990 | $1,750 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | ESTIMATE | MethodOfDeterminingRevenuesTxt |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 6 | ContributionCnt |
| Noncash Contributions Rpt F990 | $360,573 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | PROCEEDS FROM SALE | MethodOfDeterminingRevenuesTxt |
Drugs And Medical Supplies DrugsAndMedicalSuppliesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $19,871 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | ESTIMATE | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (1) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 32B: | REALTORS ARE TYPICALLY USED TO SELL REAL PROPERTY DONATED TO THE ORGANIZATION. |
| PART I, LINE 33: | THE NUMBER IN COLUMN (B) REFLECTS THE NUMBER OF CONTRIBUTORS. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | TRUSTEES BARRY E. WHITAKER AND GARRY WHITAKER - FAMILY RELATIONSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WAS PROVIDED TO THE MEMBERS OF THE BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEE FOR THEIR REVIEW AND COMMENT BEFORE FINALIZING THE RETURN. THE FINALIZED COPY OF THE FORM 990, WITH NAMES AND ADDRESSES REDACTED ON SCHEDULE B, WAS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES THROUGH EMAIL, HARD COPY, OR POSTING ON THE UNIVERSITY WEBSITE RESTRICTED TO TRUSTEE USE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE UNIVERSITY DISTRIBUTES A COPY OF THE CONFLICT OF INTEREST POLICY, AS STATED IN THE UNIVERSITY'S BYLAWS, TO THE BOARD OF TRUSTEES AND ADMINISTRATIVE OFFICERS. THE TRUSTEES ARE ASKED ANNUALLY TO SIGN A FORM CONFIRMING THAT THEY HAVE READ AND UNDERSTAND THE UNIVERSITY'S CONFLICT OF INTEREST POLICY AND AGREE TO DISCLOSE ANY ACTIVITIES, INTERESTS OR RELATIONSHIPS THAT MAY CREATE A CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS ANNUALLY TO EVALUATE THE PERFORMANCE OF TOP MANAGEMENT OFFICIALS INCLUDING OFFICERS AND KEY EMPLOYEES. DURING THIS EVALUATION PROCESS THEY COMPLETE QUESTIONAIRES AND RATINGS OF THE PRESIDENT IN VARIOUS AREAS, AS WELL AS EXAMINE COMPARATIVE STATISTICAL AND SALARY INFORMATION PROVIDED BY THE NORTH CAROLINA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES. THEY DISCUSS AND DECIDE ON THE PRESIDENT'S SALARY FOR THE UPCOMING FISCAL YEAR. THE COMMITTEE ALSO REVIEWS SALARY RECOMMENDATIONS FOR THE SENIOR ADMINISTRATIVE STAFF WHICH ARE APPROVED BY THE BOARD DURING THE BUDGET PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 | REQUESTS MADE IN PERSON WILL BE MADE AVAILABLE WITHIN FIVE BUSINESS DAYS. REQUESTS MADE IN WRITING WILL BE MADE AVAILABLE WITHIN 30 DAYS. DOCUMENTS ARE MADE AVAILABLE FOR THE PERIOD OF TIME SET FORTH IN 6104(D). |
| FORM 990, PART XI, LINE 9: | CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 346,649. |
| FORM 990 PART XII LINE 2C: | THE BUSINESS AFFAIRS COMMITTEE ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE UNIVERSITY'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. |