2022-10-12T05:14:04-05:00 2022-05-31 FORVIS LLP 111 E Wayne St Suite 600 Fort Wayne IN 46802 990 2021-06-01 590722789 SOUTHEASTERN UNIVERSITY INC % KENT INGLE SOUT 8636675000 1000 LONGFELLOW BOULEVARD LAKELAND FL 338016034 PHILLIP SCHMITT CFO 8636675000 2022-10-17 true KENT INGLE 999009999 Lauren R Denton P01571860 2604604000 2 2021 2022-09-23 18:48:47Z KENT INGLE 1000 LONGFELLOW BOULEVARD LAKELAND FL 338016034 143057227 false X WWW.SEU.EDU X 1935 FL TO PROVIDE EDUCATION IN A CHRIST-CENTERED, STUDENT-FOCUSED ENVIRONMENT. 23 22 1898 22 0 0 18653090 17311654 111917808 124688048 170087 1012826 27798 20847 130768783 143033375 37638442 48681160 0 0 47421119 47333670 177309 177422 1198332 44095965 35540061 129332835 131732313 1435948 11301062 138909409 136483124 107952505 86614643 30956904 49868481 SOUTHEASTERN UNIVERSITY'S DEDICATION TO STUDENTS' SPIRITUAL AND INTELLECTUAL GROWTH PROVIDES A FRAMEWORK FOR CHRIST-CENTERED LIVING BOTH IN AND OUTSIDE THE CLASSROOM. false false 111494393 47240718 109141225 ASSOCIATED WITH THE ASSEMBLIES OF GOD DENOMINATION, SOUTHEASTERN UNIVERSITY ENROLLS OVER 11,000 STUDENTS, BOTH TRADITIONAL AND NONTRADITIONAL, WHO REPRESENT A VARIETY OF DENOMINATIONS, PERSONAL INTERESTS, BACKGROUNDS, STATES AND COUNTRIES. SOUTHEASTERN UNIVERSITY OFFERS 70 UNDERGRADUATE DEGREE PROGRAMS, 32 GRADUATE PROGRAMS, AND 5 DOCTORAL DEGREES. CLASSES ARE OFFERED IN TRADITIONAL, ONLINE, EXTENSTION SITES AND EVENING FORMATS. GRADUATES ARE ENCOURAGED TO IMPACT CULTURE THROUGH A LIFESTYLE OF EXCELLENCE AND INTEGRITY. SOUTHEASTERN UNIVERSITY'S DEDICATION TO STUDENTS' SPIRITUAL AND INTELLECTUAL GROWTH PROVIDES A FRAMEWORK FOR CHRIST-CENTERED LIVING BOTH IN AND OUTSIDE THE CLASSROOM.TUITION AND FEES IS THE LARGEST PROGRAM OF OUR GROWING STUDENT BODY. 4976826 1440442 15577114 AUXILIARY ENTERPRISES IS THE SECOND LARGEST PROGRAM AS WE CONTINUE TO INVEST IN OUR CAMPUS CULTURE BY OFFERING CAMPUS HOUSING AND FOOD SERVICE OPTIONS TAILORED TO MEET THE MAJORITY OF OUR STUDENTS NEEDS. 116471219 true true false false false false false false false true true true false false true false false true true false true false false true true false false false true true true false false false false false false false false false false false false false false false true false false false true 9036 0 1898 true false false false false false true true false false false false false false X 23 22 true false false false false false false true true false false true true true true true true true true false FL X KENT INGLE 8636675000 1000 LONGFELLOW BOULEVARD LAKELAND FL 33801 X DR KENT INGLE PRESIDENT 40.0 0.0 X X 329179 0 149852 DR J CHRIS OWEN EXECUTIVE VICE PRESIDENT 40.0 0.0 X 250271 0 106810 JEFFREY SPEAR LEFT 1221 FORMER VP FINANCE/CFO 40.0 0.0 X 207485 0 9611 ROY ROWLAND IV VP FOR ENROLLMENT MANAGEMENT 40.0 0.0 X 198284 0 17859 DR WILLIAM HACKETT PROVOST EMERITUS 40.0 0.0 X 155025 0 35691 DENNIS ROSS PROFESSOR, POLITICAL SCIENCE 40.0 0.0 X 189332 0 750 DR BETHANY THOMAS VP FOR STUDENT DEVELOPMENT 40.0 0.0 X 163817 0 9115 DR CODY LLOYD VP FOR INSTITUTIONAL RESEARCH 40.0 0.0 X 152767 0 8519 PHILLIP J SCHMITT VP FINANCE/CFO (START 01/22) 40.0 0.0 X 132647 0 1959 TERRY RAYBURN CHAIRMAN 1.0 0.0 X 0 0 0 WAYNE BLACKBURN VICE CHAIRMAN 1.0 0.0 X 0 0 0 JOHN JORDAN SECRETARY 1.0 0.0 X 0 0 0 DOUGLAS WITHERUP TRUSTEE 1.0 0.0 X 0 0 0 JEFFERY PORTMANN TRUSTEE 1.0 0.0 X 0 0 0 TOMMY BARNETT TRUSTEE 1.0 0.0 X 0 0 0 JOHN WOOTTON TRUSTEE 1.0 0.0 X 0 0 0 JUDY RACHELS TRUSTEE 1.0 0.0 X 0 0 0 KENNETH DRAUGHTON TRUSTEE 1.0 0.0 X 0 0 0 LUKE BARNETT TRUSTEE 1.0 0.0 X 0 0 0 MARK BATTERSON TRUSTEE 1.0 0.0 X 0 0 0 MARK JAKELSKY TRUSTEE 1.0 0.0 X 0 0 0 RICHARDO ORSINI TRUSTEE 1.0 0.0 X 0 0 0 MATT POTTER TRUSTEE 1.0 0.0 X 0 0 0 SCOTT WILLIAMS TRUSTEE 1.0 0.0 X 0 0 0 ROGER ARCHER TRUSTEE 1.0 0.0 X 0 0 0 STEVEN MASON TRUSTEE 1.0 0.0 X 0 0 0 TERRELL ROBERTS TRUSTEE 1.0 0.0 X 0 0 0 ABNER ADORNO TRUSTEE 1.0 0.0 X 0 0 0 ROBERT SANDLER TRUSTEE 1.0 0.0 X 0 0 0 GABRIEL SALGUERO TRUSTEE 1.0 0.0 X 0 0 0 RAY RACHELS TRUSTEE (START 6/21) 1.0 0.0 X 0 0 0 1778807 0 340166 25 false true false CHARTWELLS SOUTH REGION 2924 KNIGHTS LN BLDG 5 JACKSONVILLE FL 32216 FOOD SERVICE 5038209 WILEY EDUCATION SERVICES LLC PO BOX 416571 BOSTON MA 02241 ONLINE RECRUITING 3170270 JENZABAR INC PO BOX 845588 BOSTON MA 02284 SOFTWARE SUPPORT 470785 ULTIMATE SOFTWARE 1485 N PARK DR WESTON FL 33326 SOFTWARE & SUPPORT 380418 ALTURNA TECH INC 2300 GLADES RD STE 302E BOCA RATON FL 33431 SOFTWARE & SUPPORT 375017 68 17802 17293852 17311654 TUITION AND FEES 611600 107542221 107542221 AUXILIARY ENTERPRISES 561160 15235479 15235479 OTHER PROGRAM REVENUE 561160 1910348 1910348 124688048 1012826 1012826 0 0 0 0 0 0 14408 17802 23852 -9444 -9444 0 0 0 0 0 0 DEBT RECOVERIES 611710 30291 30291 30291 143033375 124718339 1003382 0 48681160 48681160 0 0 1187814 949588 221527 16699 0 38911344 31107354 7256958 547032 162807 130155 30363 2289 4828779 3860328 900566 67885 2242926 1793089 418305 31532 0 356898 356898 78350 78350 0 177422 177422 84058 84058 4164515 3329288 776681 58546 1099197 878744 205000 15453 2304336 1842183 429758 32395 1997105 1596569 372460 28076 0 2014622 1610573 375727 28322 1718247 1373638 320453 24156 0 270503 216251 50449 3803 3222717 2576375 601036 45306 0 5874399 4696240 1095574 82585 1416639 1132520 264203 19916 INSTRUCTION AND PROGRAM 4547996 4547996 FOOD SERVICE 3047710 3047710 STUDY ABROAD/MISSIONS 1460294 1460294 MEMBERSHIPS & EVENTS 679272 679272 1203203 961892 224396 16915 131732313 116471219 14062762 1198332 63667 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2686039 OTHER LIABILTIES 423141 LINE OF CREDIT 0 3635488 102500151 129009 23852 152861 102347290 84058 40602027 40686085 143033375 91070080 23852 23852 91046228 84058 40602027 40686085 131732313 SCHEDULE D, PART V, LINE 4 ENDOWMENT FUNDS ARE TO BE USED BY THE UNIVERSITY PER THE DONOR'S INSTRUCTIONS, USUALLY TO FUND STUDENT SCHOLARSHIPS AND FUTURE CAMPUS BUILDING PROJECTS. SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI & XII, LINE 2D SPECIAL EVENT EXPENSE $ 23,852 SCHEDULE D, PART XI & XII, LINE 4B STUDENT FINANCIAL AID $ 40,602,027 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE POLICY IS PRINTED IN CATALOG AND THE FINANCIAL AID PACKAGE. ALSO, IT IS MENTIONED ON TELEPHONE INFORMATION ON HOLD MESSAGE HEARD BY THE GENERAL COMMUNITY AND POTENTIAL STUDENTS. IT CAN ALSO BE FOUND ON THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I, LINE 6A SOUTHEASTERN UNIVERSITY RECEIVES FEDERAL AND STATE FINANCIAL AID AND ASSISTANCE, INCLUDING FEDERAL PELL GRANTS, FEDERAL WORK-STUDY, AND FLORIDA RESOURCE ALLOCATION GRANTS. THE UNIVERSITY HAS NEVER HAD ITS RIGHT TO FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY REVOKED. East Asia and the Pacific 0 0 Program Services STUDY ABROAD & MISSION 960 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD & MISSION 72653 North America 0 0 Program Services STUDY ABROAD & MISSION 263632 South America 0 0 Program Services STUDY ABROAD & MISSION 121618 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD & MISSION 321 Central America and the Caribbean 0 0 Program Services STUDY ABROAD & MISSION 84563 0 0 0 0 543747 543747 false false false false false false X X X X X X X true MINISTRY ADVANCE LLC FUNDRAISING false 177422 -177422 177422 -177422 RED BLACK AND B 32210 17802 14408 4126 2330 3060 14336 0 32210 17802 14408 4126 2330 3060 14336 23852 -9444 true SCHOLARSHIPS AND TUITION ASSISTANCE 5928 48681160 SCHEDULE I, PART I, LINE 2 THE UNIVERSITY'S SCHOLARSHIP COMMITTEE IS CHARGED WITH THE RESPONSIBILITY OF ADVERTISING AVAILABILITY OF SPECIFIC SCHOLARSHIPS, REVIEWING APPLICATIONS, AND AWARDING SCHOLARSHIPS BASED ON NEED, MERIT, OR OTHER SPECIFIC REQUIREMENTS PUT IN PLACE BY DONORS OF THE FUNDS OR THE UNIVERSITY'S POLICIES. THE SCHOLARSHIPS ARE APPLIED DIRECTLY TO EACH STUDENT'S ACCOUNT. X X X false true X X X false false false false false false false false false DR KENT INGLE PRESIDENT 306821 0 6800 0 15558 0 42602 0 107250 0 479031 0 DR J CHRIS OWEN EXECUTIVE VICE PRESIDENT 237281 0 8800 0 4190 0 12340 0 94470 0 357081 0 JEFFREY SPEAR LEFT 1221 FORMER VP FINANCE/CFO 201935 0 2800 0 2750 0 8861 0 750 0 217096 0 DR BETHANY THOMAS VP FOR STUDENT DEVELOPMENT 159577 0 2800 0 1440 0 8365 0 750 0 172932 0 ROY ROWLAND IV VP FOR ENROLLMENT MANAGEMENT 191044 0 5800 0 1440 0 17109 0 750 0 216143 0 DENNIS ROSS PROFESSOR, POLITICAL SCIENCE 175160 0 150 0 14022 0 0 0 750 0 190082 0 DR CODY LLOYD VP FOR INSTITUTIONAL RESEARCH 147978 0 2500 0 2289 0 7769 0 750 0 161286 0 DR WILLIAM HACKETT PROVOST EMERITUS 151085 0 2500 0 1440 0 0 0 35691 0 190716 0 SCHEDULE J, PART I, LINE 1A PURSUANT TO INTERNAL REVENUE CODE SECTION 107, MINISTERIAL HOUSING ALLOWANCES ARE PROVIDED FOR QUALIFYING MINISTERIAL EMPLOYEES. THIS IS NOT INCLUDED IN TAXABLE COMPENSATION. THE UNIVERSITY PAID A NONTAXABLE HOUSING ALLOWANCE TO DR. KENT INGLE, PRESIDENT AND DR. CHRIS OWEN, EXECUTIVE VICE PRESIDENT. SCHEDULE J, PART I, LINE 1B THE ORGANIZATION FOLLOWS A WRITTEN POLICY WITH REGARD TO THE HOUSING ALLOWANCE AND HEALTH CLUB DUES. THERE IS NOT A FORMAL WRITTEN AGREEMENT REGARDING SPOUSAL TRAVEL, BUT THE REQUIREMENTS HAVE BEEN VERBALLY DISCUSSED WITH THOSE THAT USE THIS BENEFIT FOR BONA-FIDE BUSINESS PURPOSES. A CITY OF LAKELAND 596000354 2013-11-26 10000000 EDUCATIONAL FACILITIES REV REFUND false false false B CITY OF LAKELAND 596000354 2013-11-26 10000000 EDUCATIONAL FACILITIES REV REFUND false false false C CITY OF LAKELAND 596000354 2013-11-26 10000000 EDUCATIONAL FACILITIES REV REFUND false false false D CITY OF LAKELAND 596000354 2013-11-26 3360000 EDUCATIONAL FACILITIES REV REFUND false false false A 3094177 0 10000000 0 0 0 0 0 0 0 10000000 0 true false true true B 3094177 0 10000000 0 0 0 0 0 0 0 10000000 0 true false true true C 3094177 0 10000000 0 0 0 0 0 0 0 10000000 0 true false true true D 1039644 0 3360000 0 0 0 0 0 0 0 3360000 0 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false false false 0 false false false true A false false false false true false 0 false 0 false true B false false false false true false 0 false 0 false true C false false false false true false 0 false 0 false true D false false false false true false 0 false 0 false true A true B true C true D true A CITY OF LAKELAND 596000354 2015-07-13 33000000 EDUCATIONAL FACILITIES REV REFUND false false false A 4298613 0 33000000 0 0 0 310000 0 0 32690000 0 0 false false true true A false false false false 0 false false false true A false false false false true true CENTERSTATE BANK 10. false false false 0 false true A true FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD OF TRUSTEES, THE VICE CHAIR OF THE BOARD OF TRUSTEES, THE SECRETARY OF THE BOARD OF TRUSTEES, THE PRESIDENT OF SOUTHEASTERN UNIVERSITY, THE ACADEMIC AFFAIRS COMMITTEE CHAIR, THE FINANCE AND AUDIT COMMITTEE CHAIR, AND UP TO THREE (3) TRUSTEES AT LARGE SELECTED BY THE BOARD OF TRUSTEES. THE AT LARGE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL SERVE FOR (1) YEAR TERMS, AND MAY BE REELECTED WITH LIMITS. THE CHAIR OF THE BOARD OF TRUSTEES SHALL SERVE AS THE EXECUTIVE COMMITTEE CHAIR. THE EXECUTIVE COMMITTEE SHALL HAVE DELEGATED AUTHORITY FROM THE BOARD OF TRUSTEES TO ADDRESS ROUTINE BUSINESS MATTERS BETWEEN REGULAR BOARD MEETINGS AND TO ASSIST THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT IN THEIR JOINT RESPONSIBILITY TO HELP THE BOARD TO FUNCTION EFFECTIVELY AND EFFICIENTLY BY SUGGESTING BOARD MEETING AGENDA ITEMS AND PERIODICALLY ASSESSING THE QUALITY OF COMMITTEE WORK. THE EXECUTIVE COMMITTEE SHALL HAVE DELEGATED AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD: ELECTION OR REMOVAL OF THE PRESIDENT; ELECTION OR REMOVAL OF A MEMBER OF THE BOARD OF TRUSTEES OR A BOARD OFFICER; CHANGES TO THE ARTICLE OF INCORPORATION OR BYLAWS OF THE CORPORATION; CHANGE OF THE UNIVERSITY'S MISSION; INCURRING OF UNIVERSITY INDEBTEDNESS OTHER THAN INDEBTEDNESS IN THE ORDINARY COURSE OF BUSINESS; SALE OF UNIVERSITY ASSETS TANGIBLE PROPERTY OTHER THAN IN THE ORDINARY COURSE OF BUSINESS; ADOPTION OF THE ANNUAL BUDGET; AND CONFERRAL OF DEGREES. FORM 990, PART VI, SECTION A, LINE 1B DR. KENT INGLE IS A PAID EMPLOYEE OF SOUTHEASTERN UNIVERSITY AND IS CONSIDERED NON-INDEPENDENT. FORM 990, PART VI, SECTION A, LINE 2 DR. WILLIAM HACKETT, PROVOST EMERITUS AND DR. J. CHRIS OWEN, EXECUTIVE VICE PRESIDENT HAVE A FAMILY RELATIONSHIP. TOMMY BARNETT AND LUKE BARNETT HAVE A FAMILY RELATIONSHIP. RAY RACHELS AND JUDY RACHELS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI SECTION B, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED IN DETAIL BY THE ORGANIZATIONS'S TOP MANAGEMENT. THE REVIEWED FORM 990 IS THEN PROVIDED TO THE BOARD OF TRUSTEES ELECTRONICALLY FOR REVIEW. THE BOARD OF TRUSTEES IS GIVEN A DATE BY WHICH TO RESPOND PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST EXISTS WHEN ANY BOARD MEMBERS AND EMPLOYEES OF SOUTHEASTERN UNIVERSITY HAVE A RELATIONSHIP WITH, OR ENGAGE IN AN ACTIVITY WITH, ANY INDIVIDUAL OR ORGANIZATION WHICH IMPAIRS OR ADVERSELY INFLUENCES HIS OR HER JUDGMENT WITH RESPECT TO POLICY PROMOTING THE BEST INTEREST OF SOUTHEASTERN UNIVERSITY OR WHICH IMPAIRS OR ADVERSELY INFLUENCES THE PERFORMANCE OF HIS OR HER DUTIES TO THE UNIVERSITY. A CONFLICT OF INTEREST EXISTS WHEN A PERSON BENEFITS FINANCIALLY, EITHER DIRECTLY OR INDIRECTLY, FROM HIS OR HER EMPLOYMENT OR APPOINTMENT BY THE UNIVERSITY EXCEPT FOR COMPENSATION AND FINANCIAL BENEFITS PAID OR GRANTED BY THE UNIVERSITY. ALL DECISIONS OF THE BOARD OF TRUSTEES AND ADMINISTRATION OF THE UNIVERSITY SHALL BE MADE SOLELY ON THE BASIS OF A DESIRE TO PROMOTE THE BEST INTERESTS OF THE UNIVERSITY. IN ANY CASE, WHERE A CONFLICT OF INTEREST EXISTS, OR MAY EXIST, OR THE APPEARANCE OF A CONFLICT OF INTEREST MAY EXIST, IT SHALL BE THE DUTY OF THE PERSON COVERED BY THE POLICY TO DISCLOSE HIS OR HER INTEREST, INCLUDING ANY INTEREST IN THE ORGANIZATION OR ENTITY WHICH MAY BENEFIT FROM THE PERSON'S ASSOCIATION WITH THE UNIVERSITY AND INCLUDING ANY SUCH BENEFICIAL INTEREST A MEMBER OF THE PERSON'S IMMEDIATE FAMILY MAY HAVE BECAUSE OF THE PERSON'S ASSOCIATION WITH THE UNIVERSITY. PERSONS WHO PERCEIVE THE EXISTENCE OF A CONFLICT OF INTEREST SHALL NOT ENDEAVOR TO RESOLVE THE CONFLICT OR DETERMINE THAT THE EXTERNAL BENEFITS WILL NOT ADVERSELY AFFECT THE UNIVERSITY; BUT SHALL MAKE A FULL DISCLOSURE OF THE FACTS, CIRCUMSTANCES, RELATIONSHIPS AND TRANSACTION AS FOLLOWS: 1. PRESIDENT SHALL REPORT TO THE BOARD OF TRUSTEES. 2. VICE PRESIDENT SHALL REPORT TO THE PRESIDENT. 3. OTHER EMPLOYEES SHALL REPORT TO THEIR RESPECTIVE VICE PRESIDENT. PERSONS COVERED BY THIS POLICY ARE ENCOURAGED TO AVOID RELATIONSHIPS AND TRANSACTIONS WHICH CONSTITUTE A CONFLICT OF INTEREST. WHEN SUCH SITUATIONS CANNOT BE AVOIDED, THE PERSONS INVOLVED SHALL REFRAIN FROM PARTICIPATING IN CONSIDERATION OF THE TRANSACTION AFFECTED BY THE CONFLICT OF INTEREST, UNLESS UNDER SPECIAL CIRCUMSTANCES THE UNIVERSITY DETERMINES THAT THEIR PARTICIPATION IS IMPERATIVE FOR THE WELFARE OF THE UNIVERSITY. IF SUCH A WAIVER IS INDICATED, IT SHALL BE IN WRITING AND SIGNED BY THE PRESIDENT AND A COPY OF THE WAIVER SHALL BE PROVIDED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES. DISCLOSURE IS ALSO REQUIRED CONCERNING ALL RELATIONSHIPS AND BUSINESS AFFILIATIONS WHICH REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST INVOLVING THE UNIVERSITY. SUCH DISCLOSURE SHALL BE CONTINUOUSLY REPORTED AND KEPT CURRENT. THE DISCLOSURES REQUIRED UNDER THIS POLICY STATEMENT SHALL BE REPORTED ANNUALLY TO THE FINANCE & AUDIT COMMITTEE. THE INFORMATION DISCLOSED SHALL BE HELD IN CONFIDENCE EXCEPT WHEN, IN THE JUDGMENT OF THE FINANCE & AUDIT COMMITTEE, THE BEST INTERESTS OF THE UNIVERSITY WOULD BE SERVED BY DISCLOSING THE INFORMATION TO THE BOARD OF TRUSTEES. INDIVIDUALS WHO ARE DEEMED TO BE IN A CONFLICT OF INTEREST SITUATION WITH RESPECT TO ANY MATTER BEFORE THE ADMINISTRATION OR THE BOARD SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION, UNLESS SPECIFICALLY REQUESTED TO PROVIDE INFORMATION REGARDING THE TRANSACTION IN QUESTION. AT THE BOARD'S DISCRETION, THE INTERESTED PERSON MAY BE REQUIRED TO LEAVE THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. SUCH PERSON SHALL NOT VOTE ON OR TAKE ANY POSITION FOR OR AGAINST THE PROPOSED TRANSACTION. WHEN DEEMED APPROPRIATE, A NOTATION MAY BE MADE IN THE MINUTES OF THE MEETING THAT THE PERSON INVOLVED NEITHER PARTICIPATED IN THE CONSIDERATION OF THE PROPOSED TRANSACTION NOR VOTED ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A & 15B THE ADMINISTRATION OF WAGES AND SALARIES FUNCTIONS UNDER THE DIRECTION OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY. THE WAGE AND SALARY PLAN IS ADMINISTERED BY THE OFFICE OF HUMAN RESOURCES AND REVIEWED ANNUALLY BY THE FINANCE & AUDIT COMMITTEE BEFORE PRESENTATION TO THE BOARD OF TRUSTEES FOR FINAL APPROVAL. IN REVIEWING THE WAGE STRUCTURE, CONSIDERATION IS GIVEN TO THE PREVAILING RATES FOR COMPARABLE WORK IN THE LAKELAND AREA, THE CURRENT COST OF LIVING, SALARY LEVELS OF RELATED ORGANIZATIONS, AND THE ECONOMIC CONDITION OF THE UNIVERSITY. THE DETERMINATION OF THE PRESIDENT'S COMPENSATION IS THE RESPONSIBILITY OF THE EXECUTIVE COMMITTEE WHICH MAKES A RECOMMENDATION TO THE BOARD OF TRUSTEES FOR FINAL APPROVAL. THE PROCESS INCLUDES A PERFORMANCE REVIEW AND THE STUDY OF COMPARABLE COMPENSATION DATA FROM PEER INSTITUTIONS. IN ADDITION TO THE COMPENSATION FACTORS DESCRIBED ABOVE, THE RECOMMENDATION FOR ANY PARTICULAR YEAR SHALL TAKE INTO ACCOUNT REGIONAL ECONOMIC INFORMATION AND THE FINANCIAL CONDITION OF THE UNIVERSITY. THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES MAINTAINS A DETAILED RECORD OF THE MEETING AND DISCUSSIONS RELATIVE TO EXECUTIVE COMPENSATION. MEANWHILE, THE PRESIDENT RECOMMENDS THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES TO THE EXECUTIVE COMMITTEE WHICH MAKES THE FINAL DETERMINATION. INFORMATION DESCRIBED IN THE DETERMINATION OF THE PRESIDENT'S COMPENSATION IS ALSO USED FOR THAT OF OFFICERS AND KEY EMPLOYEES. THIS PROCESS INCLUDES REGULAR REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A, LINE A COMPENSATION REPORTED IN PART VII, COLUMN D AND SCHEDULE J, PART II, COLUMN B IS THE AMOUNT REPORTED ON THE INDIVIDUAL'S W-2, BOX 1 OR 5 (WHICHEVER AMOUNT IS GREATER) PER THE IRS INSTRUCTIONS. IN THE CASE OF MINISTER'S COMPENSATION WHEN BOX 5 OF THE W-2 IS NOT APPLICABLE, BOX 1 COMPENSATION IS USED. EMPLOYEE DEFERRALS TO QUALIFIED RETIREMENT PLANS ARE NORMALLY CAPTURED IN BOX 5, NOT BOX 1 OF FORM W-2. FOR REPORTING PURPOSES WE HAVE INCLUDED THE MINISTER RETIREMENT PLAN DEFERRALS IN PART VII, COLUMN F AND SCHEDULE J, PART II, COLUMN C. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS CHANGE IN INTEREST RATE SWAP $ 3,293,512 SOUTHEASTERN UNIVERSITY FOUNDATION INC 1000 LONGFELLOW BLVD LAKELAND FL 33801 463844101 FUNDRAISING FL 501(C)(3) LINE 12B,II SEU true false false false false false false false false false false false false false false false false false false false