2022-05-13T09:44:05-05:00 2021-06-30 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2020-07-01 560623936 UNIVERSITY OF MOUNT OLIVE INC UNIV 9196582502 634 HENDERSON ST MOUNT OLIVE NC 28365 KEN BUCHANAN VP FOR FINANCE 9196582502 2022-05-12 1 KEN BUCHANAN 999009999 YONG ZHANG CPA P01249785 7033366400 2022-05-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z EDWARD CROOM 634 HENDERSON ST MOUNT OLIVE NC 28365 59857406 0 X WWW.UMO.EDU X 1951 NC CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE HIGHER EDUCATION INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 5,000 STUDENTS, AUXILIARY ENTERPRISES, OPERATION OF PLANT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING. 27 25 741 235 0 0 9994529 8532658 41538463 41554753 979420 2020628 0 0 52512412 52108039 11418296 13864618 0 0 22078072 19885099 0 0 704238 17186047 14126958 50682415 47876675 1829997 4231364 70836752 82107533 21373260 20590799 49463492 61516734 UNIVERSITY OF MOUNT OLIVE, INC. IS A CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. WE SERVE OUR STUDENTS, OUR FOUNDING CHURCH, AND OUR COMMUNITIES. 0 0 38149913 13864618 41554753 CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE HIGHER EDUCATION INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 5,000 STUDENTS, AUXILIARY ENTERPRISES, OPERATION OF PLANT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING. 38149913 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 3568 0 1 741 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 25 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X JAY REBMAN 9196582502 634 HENDERSON ST MOUNT OLIVE NC 28365 X ALBERT ELROD TRUSTEE 1.00 X 0 0 0 BENJAMIN D FORREST TRUSTEE 1.00 X 0 0 0 BEVERLY BOYETTE TRUSTEE 1.00 X 0 0 0 BOBBY KENNETH JONES TRUSTEE 1.00 X 0 0 0 C DARRELL HORNE TRUSTEE 1.00 1.00 X 0 0 0 CAROLYN F JERNIGAN TRUSTEE 1.00 X 0 0 0 CHARLES W PITTMAN III TRUSTEE 1.00 X 0 0 0 CHRISTINE J GREENE TRUSTEE 1.00 X 0 0 0 DAVID L MCPHERSON TRUSTEE 1.00 X 0 0 0 DONNIE E LASSITER TRUSTEE 1.00 X 0 0 0 DR DEWAYNE EAKES TRUSTEE 1.00 X 0 0 0 DR J BRYAN MARTIN TRUSTEE 1.00 X 0 0 0 EARL W WORLEY JR TRUSTEE 1.00 1.00 X 0 0 0 EMMETT JUDSON POPE III TRUSTEE 1.00 X 0 0 0 GENE T JERNIGAN TRUSTEE 1.00 X 0 0 0 HOWARD F SCOTT TRUSTEE 1.00 X 0 0 0 JEAN M AVERETTE TRUSTEE 1.00 X 0 0 0 JERIYN J LEE TRUSTEE 1.00 X 0 0 0 KIM QUINN TRUSTEE 1.00 X 0 0 0 LAWRENCE ROUSE TRUSTEE 1.00 X 0 0 0 LLOYD W JONES JR TRUSTEE 1.00 X 0 0 0 MARY H DRUMMOND TRUSTEE 1.00 X 0 0 0 ROBERT B KORNEGAY TRUSTEE 1.00 X 0 0 0 GEORGE FUTRELLE TRUSTEE 1.00 X 0 0 0 BOB SUTTER TRUSTEE 1.00 X 0 0 0 THE REVEREND H ADRIAN GRUBBS TRUSTEE 1.00 X 0 0 0 WESLEY E BEDDARD TRUSTEE 1.00 X 0 0 0 DR EDWARD CROOM PRESIDENT 50.00 1.00 X 173552 0 2204 DR DAVID L POOLE FORMER PRESIDENT 50.00 1.00 X 232222 0 31014 JEREMY SHREVE VP FINANCE & ADMINISTRATION 50.00 1.00 X 139450 0 27014 ANNE HAMM ASSISTANT BOARD SECRETARY 50.00 X 49038 0 10103 JEFFREY EISEN VP ATHLETICS 50.00 X 94540 0 18233 ELIZABETH CARRERE EXECUTIVE VICE PRESIDENT 50.00 X 129435 0 29962 KATHY BEST DEAN TILMAN SCHOOL OF BUSINESS 50.00 X 12728 0 23718 KENNETH HINES VP ACADEMIC AFFAIRS 50.00 X 128327 0 23337 W DAN SULLIVAN VP STUDENT AFFAIRS 50.00 X 122759 0 16917 TIMOTHY WOODARD VP ENROLLMENT, MARKETING & COMMUNICATIONS 50.00 X 104612 0 15760 DAVID DOMMER AVP - ADULT & GRAD ACADEMIC PROGRAMS 50.00 X 97168 0 15556 LISA NUESELL AVP - ADULT & GRAD ENROLLMENT 50.00 X 78979 0 22850 SANDRA MADDOX DEAN - SCHOOL OF AG & BIO SCIENCES 50.00 X 106867 0 16065 JASON GIPE VP - ADVANCEMENT 50.00 1.00 X 136520 0 23832 1606197 0 276565 10 1 1 0 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 1060180 RADIO WERKS LLC P O BOX 1214 NEW BERN NC 28563 MARKETING/ADVERTISING 708563 HIGH STANDARD CLEANING PO BOX 1024 GOLDSBORO NC 27533 CLEANING SERVICES 553449 BRAND VALUE ACCELERATOR LLC 600 W BROADWAY SUITE 450 SAN DIEGO CA 92101 MARKETING/ADVERTISING 537901 SUNSTATES SECURITY LLC P O BOX 896583 CHARLOTTE NC 28289 SECURITY 269069 9 3913469 4619189 63963 8532658 STUDENT TUITION AND FEES 611310 35049856 35049856 AUXILIARY ENTERPRISES 611310 5207779 5207779 OTHER PROGRAM INCOME 611310 1171781 1171781 FLIGHT SCHOOL 611512 125337 125337 41554753 1321235 1321235 8448760 7749367 699393 699393 699393 52108039 41554753 0 2020628 13864618 13864618 1754589 930542 674937 149110 14325885 11960392 2094601 270892 3804625 3004595 693998 106032 66725 66725 122866 122866 98393 98393 1281842 641049 623443 17350 1236881 1203188 22333 11360 488156 365672 97225 25259 1009085 161504 805863 41718 1556073 1464764 91309 400745 354010 42896 3839 61439 57020 4244 175 702691 13370 689321 2402104 1681473 672589 48042 378241 11546 366695 FOOD SERVICES 1369998 1369998 BAD DEBT 1033450 1033450 UTILITIES 930465 752825 167388 10252 987804 313347 654248 20209 47876675 38149913 9022524 704238 1333 1333 5324492 11285945 871001 486329 2946779 2099437 699421 510854 59660778 31721256 29489024 27939522 13433783 16938820 9232801 13241966 8838118 9603327 70836752 82107533 3568513 3479182 2796900 4375380 14171362 11980330 836485 755907 21373260 20590799 X 9972014 11240024 39491478 50276710 49463492 61516734 70836752 82107533 X 4231364 6452612 1369266 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 263974 X X X 0 25698080 763531 7424829 931968 32954472 28706765 371497 -82871 3297311 25698080 26519950 602514 2613111 1028810 28706765 25970262 741060 926787 1118159 26519950 23480968 388827 3077639 977172 25970262 0.00000 0.67880 0.32120 0 0 1405098 1405098 39629890 16708789 22921101 15526962 13074849 2452113 3098828 1937618 1161210 27939522 9364729 F NONEXCHANGE TRADED STOCK 3877237 F 13241966 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 8749904 CASH VALUE OF LIFE INSURANCE 277882 OTHER ASSETS 575541 9603327 OBLIGATIONS UNDER SPLIT INTERST AGREEMENT 590150 MISCELLANEOUS LIABILITIES 165757 755907 X 45817454 6452612 -12743197 -6290585 52108039 0 52108039 33764212 0 33764212 14112463 14112463 47876675 PART III, LINE 4: GEMSTONES AND ARTWORK ARE MAINTAINED FOR STUDY BY STUDENTS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS AND SUPPORT INSTRUCTION AND OTHER GENERAL INSTITUTIONAL NEEDS. 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 CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -13,864,617. CHANGE IN TRUST VALUE 1,334,135. INTEREST RATE SWAP 35,130. EXPENSES OF SINGLE MEMBER LLC -247,845. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 13,864,618. EXPENSES OF SINGLE MEMBER LLC 247,845. 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 INCLUDED ON THE APPLICATION (PAPER AND WEB VERSION), THE CATALOG, AND ON THE WEBSITE - ADMISSIONS AND FUTURE STUDENTS LANDING PAGES AND EMPLOYMENT PAGE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY OF MOUNT OLIVE STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING FEDERAL WORK-STUDY, FEDERAL PELL GRANTS, NC NEED-BASED SCHOLARSHIPS, AND NC GOLDEN LEAF FOUNDATION SCHOLARSHIPS. 1 STUDENT GRANTS 421 332671 0 STUDENT FINANCIAL AID 1169 11194588 0 COVID-19 ASSISTANCE TO STUDENTS 1856 2337359 0 PART I, LINE 2: THE DIRECTOR OF FINANCIAL AID'S OFFICE MAINTAINS ALL DOCUMENTATION TO SUPPORT THAT THE AWARDED STUDENTS HAVE SATISFIED THE ELIGIBILITY REQUIREMENTS FOR THE VARIOUS GRANTS PROVIDED TO THE UNIVERSITY FOR STUDENTS. CRITERIA FOR AWARDING ANY GRANTS IS ALSO MAINTAINED BY THE DIRECTOR OF FINANCIAL AID'S OFFICE AND IS APPROVED BY THE VP OF ENROLLMENT. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR EDWARD CROOM PRESIDENT 173552 0 0 0 0 0 0 0 2204 0 175756 0 0 0 DR DAVID L POOLE FORMER PRESIDENT 232222 0 0 0 0 0 11792 0 19222 0 263236 0 0 0 JEREMY SHREVE VP FINANCE & ADMINISTRATION 139450 0 0 0 0 0 7450 0 19564 0 166464 0 0 0 ELIZABETH CARRERE EXECUTIVE VICE PRESIDENT 129435 0 0 0 0 0 6911 0 23051 0 159397 0 0 0 KENNETH HINES VP ACADEMIC AFFAIRS 128327 0 0 0 0 0 6747 0 16590 0 151664 0 0 0 JASON GIPE VP - ADVANCEMENT 136520 0 0 0 0 0 0 0 23832 0 160352 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY IS CONTRACTUALLY OBLIGATED TO LIVE IN HOUSING ADJACENT TO THE UNIVERSITY. SUCH HOUSING IS FOR THE CONVENIENCE OF THE UNIVERSITY; ACCORDINGLY THERE ARE MULTIPLE FUNCTIONS HELD AT THE PRESIDENT'S HOME ANNUALLY. HOUSING VALUE IS APPROXIMATELY $20,000 ANNUALLY AND IS NOT TAXABLE COMPENSATION TO THE PRESIDENT. X 50 COST X 5 46727 FAIR MARKET VALUE X 4 803 COST X MISCELLANEOUS SMALL GIFTS 5 10227 COST X EQUIPMENT 10 6156 COST 6 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE CONTROLLER, VP FINANCE, AND THE BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY UNDERGOES CONSTANT REVIEW, ANY CONFLICTS ARE DISCLOSED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT, VP OF INSTITUTIONAL ADVANCEMENT, AND VP FINANCE AND ADMINISTRATION REQUIRE THE USE OF A COMPENSATION COMMITTEE, INDEPENDENT CONSULTANT, COMPENSATION SURVEY, OR BOARD/COMMITTEE APPROVAL. DECISION PROCESS AND OUTCOME ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN TRUST VALUE 1,334,135. CHANGE INTERST RATE SWAP 35,131. FORM 990, PART XII, LINE 2C THE REVIEW AND OVERSIGHT PROCESS HAS NOT CHANGED SINCE THE PRECEEDING YEAR. TROJAN AVIATION LLC 634 HENDERSON STREET MOUNT OLIVE NC 28365 MAINTAIN AIRCRAFT AND MANAGE THE UNIVERSITY'S FLIGHT SCHOOL. NC 125337 331869 UNIVERSITY OF MOUNT OLIVE THE UNIVERSITY OF MOUNT OLIVE FOUNDATION 634 HENDERSON STREET MOUNT OLIVE NC 28365 200371529 SEE PART VII NC 501(C)(3) LINE 12B, II UNIVERSITY OF MOUNT OLIVE 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATION TO SEEK ALTERNATIVE SOURCES OF SUPPORT TO STRENGTHEN THE UNIVERSITY OF MOUNT OLIVE'S OUTREACH TO STUDENTS AND THE COMMUNITY.