2021-04-19T15:11:13-05:00 2020-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2019-07-01 591092732 PALM BEACH ATLANTIC UNIVERSITY INC PALM 5618032083 901 S FLAGLER DRIVE WEST PALM BEACH FL 33401 JOHN KAUTZ III SR VP FINANCE ADMIN & PLANNING 5618032083 2021-04-19 1 RICHARD JUBACK P00630706 5617989988 2019 2022-09-23 18:48:47Z JOHN KAUTZ III 901 S FLAGLER DRIVE WEST PALM BEACH FL 33401 116962416 0 X HTTP://WWW.PBA.EDU/ X 1968 FL PBA IS A PRIVATE CHRISTIAN UNIVERSITY OFFERING UNDERGRADUATE, GRADUATE & PROFESSIONAL PROGRAMS. 30 30 1454 175 69982 68982 6534831 14652882 101581291 99019427 4020012 2608035 396380 445764 112532514 116726108 37403333 39126026 0 0 41840296 43316576 0 0 1508510 36400008 36697097 115643637 119139699 -3111123 -2413591 219345774 220823200 45189678 49445510 174156096 171377690 X THE MISSION OF PALM BEACH ATLANTIC UNIVERSITY IS TO PREPARE STUDENTS FOR LIFELONG LEARNING AND LEADERSHIP BY OFFERING EXCELLENT UNDERGRADUATE, GRADUATE AND PROFESSIONAL PROGRAMS OF STUDY IN THE ARTS, HUMANITIES, SCIENCES AND SELECTED PROFESSIONS. 0 0 97396268 39126026 99019427 PALM BEACH ATLANTIC UNIVERSITY PROVIDES HIGHER EDUCATION TO APPROXIMATELY 3,699 FULL AND PART-TIME STUDENTS IN 55 UNDERGRADUATE, 1 GRADUATE, AND 3 PROFESSIONAL DEGREE PROGRAMS. CONTINUING EDUCATION, STUDENT HOUSING, A DINING HALL, A BOOKSTORE, AND OTHER AUXILIARY SERVICES ARE PROVIDED FOR THE STUDENTS CONVENIENCE. FINANCIAL AID IS PROVIDED TO APPROXIMATELY 3,233 STUDENTS. 97396268 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 1 197 0 1 1454 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X X JOANIE SZOROSY CONTROLLER 5618032155 901 S FLAGLER DR WEST PALM BEACH FL 33401 REV WALTER B ARNOLD III TRUSTEE 1.00 X 0 0 0 GINGER BILLS TRUSTEE 1.00 X 0 0 0 CHANDRA BILL-RABENECKER TRUSTEE 1.00 X 0 0 0 WILLIAM BLODGETT TRUSTEE 1.00 X 0 0 0 WILLIAM BRADFORD TRUSTEE 1.00 X 0 0 0 CATHY BURK TRUSTEE 1.00 X 0 0 0 MARK CAMPBELL TRUSTEE 1.00 X 0 0 0 J MICHAEL COOK TRUSTEE 1.00 X 0 0 0 WAYNE W COTTON TRUSTEE 1.00 X 0 0 0 CHARLES DORSEY JR TRUSTEE EMERITUS (NON-VTG) 1.00 X 0 0 0 JOHN P GREENE III TRUSTEE (NON-VTG) 1.00 X 0 0 0 JOHN GREGORY TRUSTEE 1.00 X 0 0 0 DANIEL A HANLEY TRUSTEE 1.00 X 0 0 0 SCOTT G HAWKINS TRUSTEE 1.00 X 0 0 0 JAMES C JENKINS TRUSTEE 1.00 X 0 0 0 R MARSHALL JONES SECRETARY 1.00 X X 0 0 0 MAMI H KISNER TRUSTEE 1.00 X 0 0 0 PATRICK KOENIG TRUSTEE 1.00 X 0 0 0 RICHARD A KRAUSE TRUSTEE 1.00 X 0 0 0 MICHAEL LEE TRUSTEE 1.00 X 0 0 0 TIMOTHY LEULIETTE TREASURER 1.00 X X 0 0 0 JOHN W LITTLE III TRUSTEE 1.00 X 0 0 0 BARBARA MOORE CPA TRUSTEE 1.00 X 0 0 0 THOMAS MCCAFFREY TRUSTEE 1.00 X 0 0 0 THOMAS R PLEDGER TRUSTEE (NON-VTG) 1.00 X 0 0 0 GARY SCHROEDER TRUSTEE 1.00 X 0 0 0 PASTOR JIMMY SCROGGINS TRUSTEE 1.00 X 0 0 0 STEVE SCALICI TRUSTEE 1.00 X 0 0 0 ROBERT W SIMPSON TRUSTEE (NON-VTG) 1.00 X 0 0 0 TIMOTHY SOTOS BOARD CHAIR 1.00 X X 0 0 0 MIKE STEVENS VICE CHAIR 1.00 X X 0 0 0 HON W MATTHEW STEVENSON TRUSTEE 1.00 X 0 0 0 KARL H WATSON TRUSTEE (NON-VTG) 1.00 X 0 0 0 KARL WATSON JR TRUSTEE 1.00 X 0 0 0 SCOTT WHITAKER TRUSTEE 1.00 X 0 0 0 WILLIAM FLEMING PRESIDENT 60.00 X 504136 0 392922 JOHN KAUTZ VICE PRESIDENT FOR FINANCE 60.00 X 201873 0 18014 RANDOLPH E RICHARDS PROVOST, CAO 40.00 X 175046 0 16537 VICKI PUGH VICE PRESIDENT FOR DEVELOP. 40.00 X 147647 0 13065 CONNIE SHEPHERD EXECUTIVE VP STRATEGY & PLANNING 40.00 X 160927 0 14508 CAROLYN STONE VP FOR INTERCOLLEGIATE ATHLETICS 40.00 X 60330 0 5463 TIMOTHY WORLEY VICE PRESIDENT FOR ADMISS. 40.00 X 157510 0 14334 JEFFREY LEWIS DEAN OF GREGORY SCHOOL OF PHARMACY 40.00 X 188343 0 16918 ROBERT LLOYD DEAN OF THE SCHOOL OF ARTS AND SCIENCES 40.00 X 137198 0 12422 DANA STRACHAN ASSOCIATE DEAN FOR ACADEMICS 40.00 X 135643 0 12536 JOHN HAYES ASSOCIATE PROFESSOR 40.00 X 142548 0 12869 ADWOA NORNOO ASSOCIATE PROFESSOR 40.00 X 133779 0 12029 2144980 0 541617 47 0 1 0 ARAMARK SERVICES INC 7513 CENTRAL INDUSTRIAL DR RIVIERA BEACH FL 33404 FOOD, FACILITIES, AND UNIFORM SERVICES 4655181 HEDRICK BROTHERS CONSTRUCTION CO INC 2200 CENTREPARK WEST DR SUITE 100 WEST PALM BEACH FL 33409 RESTORATION AND CONSTRUCTION SERVICES 2462235 NATIONAL MANAGEMENT RESOURCES 113 CORPORATE PARK E LAGRANGE GA 30241 FACILITIES MANAGEMENT 2004434 AETNA STUDENT HEALTH AGENCY PO BOX 417696 BOSTON MA 02241 INSURANCE 682476 HAVERLAND AG INNOVATIONS INC 10670 HERITAGE FARM RD LAKE WORTH FL 33449 MAINTENANCE 643228 5 190095 6063625 8399162 104674 14652882 TUITION & FEES 611310 87661255 87661255 AUXILIARY 611310 10690968 10690968 MISC SERVICE CHGES/ACCOUNT FEES 611310 667204 667204 99019427 145615 145615 119053 71982 0 2000 119053 69982 189035 69982 119053 547319 1965041 0 49940 547319 1915101 2462420 2462420 441097 190095 184368 256729 256729 116726108 99019427 69982 2983817 39126026 39126026 2157771 802917 1209684 145170 31281371 26591375 3944487 745509 2299047 1678591 565879 54577 5214516 4271879 803744 138893 2363871 1936550 364357 62964 55215 55215 146714 146714 94615 94615 4230280 570189 3633194 26897 1100108 340402 744164 15542 1685126 996926 504021 184179 2163609 959085 1204524 809101 507085 302016 414936 353138 54334 7464 1361831 1303023 58808 7162179 6852895 309284 3008747 923179 2085568 UNRELATED BUSINESS TAX 22113 22113 FOOD CONTRACTOR 3862914 3862914 MISCELLANEOUS 3664581 939746 2724835 0 UTILITIES 2840934 2360848 480086 4074094 3019500 927279 127315 119139699 97396268 20234921 1508510 12823483 16690340 4577516 3141271 28033700 26662719 1058910 1165984 521394 1084156 2956123 3319005 204366411 94288776 110668552 110077635 697605 664325 58008491 58017765 219345774 220823200 3998680 6664383 1619626 5388506 36737778 34414658 2833594 2977963 45189678 49445510 X 93565257 93089561 80590839 78288129 174156096 171377690 219345774 220823200 X -2413591 -53000 -311815 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X EDUCATION 0 85935291 2369506 1319789 3727191 424780 94615 85378000 85658707 1016094 2218387 2847137 110760 85935291 81170465 2133989 5355464 2538844 422546 39821 85658707 77129027 1225000 6517918 2833268 842860 25352 81170465 79782977 625599 -8726 2576021 670122 24680 77129027 0.18000 0.32000 0.50000 1 0 23177258 23177258 147308747 81023302 66285445 160961 30198 130763 19555568 13235276 6320292 14163877 14163877 110077635 2683679 C PRIVATE FUNDS 55234086 F INVESTMENT IN PRIVATE ENTERPRISE 100000 C 58017765 DEPOSITS AND OTHER LIABILITIES 713444 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 384326 ANNUITIES PAYABLE 195735 CASH FLOW HEDGE 1684458 2977963 X 77327019 -53000 -125447 -178447 77505466 94615 39126026 39220641 116726107 80105426 186368 186368 79919058 94615 39126026 39220641 119139699 PART III, LINE 4: THE UNIVERSITY PERIODICALLY RECEIVES ARTWORK FROM DONORS FOR PUBLIC EXHIBITION PURPOSES. SUCH ARTWORK COLLECTION HAS NOT BEEN RECORDED SINCE THE UNIVERSITY DOES NOT HAVE OBJECTIVE AND MEASURABLE FAIR VALUES TO ASSIGN TO THE ARTWORK. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO GENERATE INCOME TO PROVIDE STUDENT SCHOLARSHIPS, TO ENHANCE CERTAIN FACULTY SALARIES, AND PROFESSIONAL DEVELOPMENT AND TO MAINTAIN FACILITIES. PART X, LINE 2: THE UNIVERSITY HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE IRC TO MAINTAIN ITS EXEMPT STATUS. THE UNIVERSITY RECOGNIZES THE TAX BENEFIT ASSOCIATED WITH TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE UNIVERSITY DOES NOT BELIEVE THERE ARE ANY UNCERTAIN TAX POSITIONS. FOR THE YEARS ENDED JUNE 30, 2020 AND 2019, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE UNIVERSITY'S FINANCIAL STATEMENTS. THE UNIVERSITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2017. EARNINGS FROM UNRELATED BUSINESS ACTIVITIES WERE NOT SIGNIFICANT FOR THE YEARS ENDED JUNE 30, 2020 AND 2019; THEREFORE, NO RELATED INCOME TAXES ARE ACCRUED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 184,368. UNREALIZED CASH FLOW HEDGE LOSS -136,336. CHANGE IN VALUE OF SPLIT-INTEREST TRUSTS -175,479. BILLBOARD RENTAL EXPENSE 2,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNSPONSORED SCHOLARSHIPS 28,964,488. SPONSORED SCHOLARSHIPS 3,273,435. ATHLETIC SCHOLARSHIPS 2,907,685. PELL GRANTS 3,980,418. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 184,368. BILLBOARD RENTAL EXPENSE 2,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNSPONSORED SCHOLARSHIPS 28,964,488. SPONSORED SCHOLARSHIPS 3,273,435. ATHLETIC SCHOLARSHIPS 2,907,685. PELL GRANTS 3,980,418. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 PUBLICIZED IN THE STUDENT BROCHURES. PROGRAM SERVICES 0 0 PROGRAM SERVICES - STUDY ABROAD FOR EDUCATION INTERNATIONAL STUDY AVAILABLE IN CHILE, COLUMBIA, COSTA RICA, CZECH REPUBLIC, ECUADOR, FRANCE, GERMANY, GREECE, HAITI, INDIA, ITALY, JORDAN, MEXICO, NEW ZEALAND, SOUTH AFRICA, SOUTH KOREA, SPAIN, UGANDA, UNITED KINGDOM, AND ZAMBIA. 513189 0 0 0 0 0 0 513189 0 513189 0 0 0 0 0 0 PART I, LINE 3: ACCRUAL PART III ACCOUNTING METHOD: WOMEN OF DISTINCTION 477850 133175 344675 103688 41296 ALUMNI ASSN GOLF TOURN. 153342 56920 96422 31668 7716 631192 190095 441097 135356 49012 184368 256729 1 FINANCIAL AID/TUITION REMISSION 3331 35145608 COST OF ATTENDANCE TUITION ASSISTANCE PELL GRANT AWARDS 897 3980418 COST OF ATTENDANCE, FINANCIAL NEED, AND ENROLLMENT STATUS PART I, LINE 2: GRANT FUNDS ARE ADMINISTERED IN COMPLIANCE WITH FEDERAL AND STATE APPLICABLE REGULATIONS. GRANTS AND SCHOLARSHIPS ARE DISBURSED ACCORDING TO ELIGIBILITY CRITERIA INCLUDING SCHOLASTIC ABILITY, CHRISTIAN INVOLVEMENT, FINANCIAL NEED AND/OR TALENT. GRANTS AND SCHOLARSHIPS ARE ACCOUNTED FOR IN SEPARATE GENERAL LEDGER ACCOUNTS WHICH ARE RECONCILED INTERNALLY. GRANTS AND SCHOLARSHIPS ARE AUDITED ANNUALLY IN COMPLIANCE WITH OMB CIRCULAR A-133. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 WILLIAM FLEMING PRESIDENT 268785 0 200000 0 35351 0 392922 0 11522 0 908580 0 0 0 JOHN KAUTZ VICE PRESIDENT FOR FINANCE 183594 0 0 0 18279 0 18014 0 547 0 220434 0 0 0 RANDOLPH E RICHARDS PROVOST, CAO 149530 0 0 0 25516 0 16537 0 9720 0 201303 0 0 0 VICKI PUGH VICE PRESIDENT FOR DEVELOP. 132462 0 0 0 15185 0 13065 0 1095 0 161807 0 0 0 CONNIE SHEPHERD EXECUTIVE VP STRATEGY & PLANNING 147727 0 0 0 13200 0 14508 0 577 0 176012 0 0 0 TIMOTHY WORLEY VICE PRESIDENT FOR ADMISS. 144574 0 0 0 12936 0 14334 0 1958 0 173802 0 0 0 JEFFREY LEWIS DEAN OF GREGORY SCHOOL OF PHARMACY 172594 0 0 0 15749 0 16918 0 343 0 205604 0 0 0 ROBERT LLOYD DEAN OF THE SCHOOL OF ARTS AND SCIEN 117934 0 0 0 19264 0 12422 0 1224 0 150844 0 0 0 DANA STRACHAN ASSOCIATE DEAN FOR ACADEMICS 124394 0 0 0 11249 0 12536 0 3753 0 151932 0 0 0 JOHN HAYES ASSOCIATE PROFESSOR 130215 0 0 0 12333 0 12869 0 1334 0 156751 0 0 0 PART I, LINE 1A THE UNIVERSITY PAYS FOR THE PRESIDENT'S SOCIAL CLUB DUES. THE DUES ARE 100% FOR BUSINESS PURPOSES. A PALM BEACH COUNTY EDUCATIONAL FACILITIES REV BOND 941347393 2012-12-19 40375000 FINANCE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF CAPITAL PROJECTS. 0 0 0 A 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 1 1 BOAMERRILL LYNCH 14.500000000000 0 0 0 0 0 A 0 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: ON DECEMBER 19, 2012 THERE WAS A REBATE COMPUTATION PERFORMED INDICATING NO REBATE WAS DUE. TRUSTEE JAMES JENKINS AND TRUSTEE J ELDER AT MEMORIAL PRESBYTERIAN CHURCH 27790 PROPERTY RENTAL 0 TRUSTEE JAMES SCROGGINS PASTOR AT FIRST BAPTIST CHURCH OF WEST PALM BEACH, INC. 250 MINISTRY PARTNERSHIP AGREEMENT 0 TRUSTEE SCOTT HAWKINS SHAREHOLDER IN JONES, FOSTER, JOHNSON AND STUBBS, P.A. 42028 LEGAL SERVICES 0 VICE CHAIRMAN MIKE STEVENS MARSHALL AND VERA LEA RINKER FOUNDATION 75000 RENT ON QUATTLEBAUM PROPERTY 0 TRUSTEE JOHN LITTLE JOHN LITTLE ATTORNEY AT GUNSTER YOAKLEY 19618 LEGAL SERVICES 0 TRUSTEE CATHLEEN BURKE SPOUSE IS OWNER OF HEDRICK BROTHERS CONSTRUCTION CO., INC. 2462235 BUILDING PERMITS AND CONSTRUCTION SERVICES 0 X 4 80797 FAIR MARKET VALUE X ENTERTAINMENT 30 13497 FAIR MARKET VALUE X GIFT CARDS & BASKETS 35 8845 FAIR MARKET VALUE X CLOTHING & HOUSEHOLD 9 830 FAIR MARKET VALUE X FOOD 19 705 FAIR MARKET VALUE 0 1 0 FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: PBA IS A PRIVATE, INDEPENDENT UNIVERSITY DEDICATED TO THE INTENTIONAL INTEGRATION OF CHRISTIAN PRINCIPLES. AS A COMMUNITY OF LEARNERS, THE UNIVERSITY PROVIDES STUDENTS WITH A RIGOROUS EDUCATIONAL ENVIRONMENT THAT LEADS TO INTELLECTUAL, SPIRITUAL AND PERSONAL CHARACTER DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE CHAIRMAN, VP OF FINANCE AND CONTROLLER'S OFFICE REVIEWS THE FORM 990. THE UNIVERSITY ALSO SENDS AN ELECTRONIC COPY OF THE FORM 990 TO EVERY MEMBER OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO FILE ON AN ANNUAL BASIS A DISCLOSURE AND COMPLIANCE STATEMENT DISCLOSING THEIR PERSONAL INTEREST, DIRECT OR INDIRECT, IN ANY UNIVERSITY TRANSACTION DURING THE PREVIOUS YEAR AND AFFIRMING THAT (I) THEY HAVE READ THE UNIVERSITY CONFLICT OF INTEREST AND COMMITMENT POLICY, (II) THEY WILL AVOID PARTICIPATING IN ANY UNIVERSITY DECISION IN WHICH THE INDIVIDUAL OR ANY AFFILIATE COULD BE SAID TO HAVE PERSONAL FINANCIAL OR OTHER STAKE IN THE DECISION OR WHERE OTHER OUTSIDE INFLUENCES COULD INFLUENCE THE TRUSTEE'S INDEPENDENT JUDGMENT. COPIES OF ALL DISCLOSURE AND COMPLIANCE STATEMENTS SHALL BE KEPT AS A MATTER OF RECORD IN THE PRESIDENTS OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS THE COMPENSATION OF THE PRESIDENT ANNUALLY. INFORMATION IS COLLECTED ON NEW AND VACANT POSITIONS FROM SEARCH COMMITTEES AS WELL AS DATA FROM MANY SOURCES INCLUDING, BUT NOT LIMITED TO, CUPA-HR, CCCU, AUUP, FLORIDA DEPARTMENT OF LABOR ETC. HUMAN RESOURCES REVIEWS THE DIFFERENT POSITIONS, DESCRIPTION OF THE POSITIONS, AND THE PROPOSED SALARY FOR CONTENT AND FIT WITHIN THE CAMPUS SALARY STRUCTURE. FINAL REVIEW AND APPROVAL OF ALL FULL-TIME OFFERS OF EMPLOYMENT AT THE DIRECTOR LEVEL AND ABOVE ARE PRESENTED TO THE PRESIDENT FOR HIS APPROVAL UPON THE RECOMMENDATION OF THE THE APPROPRIATE VICE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED CASH FLOW HEDGE GAIN/LOSS -136,336. CHANGE IN VALUE OF SPLIT-INTEREST TRUSTS -175,479. FORM 990, PART XII, LINE 2C: THE UNIVERSITY HAS NOT CHANGED ITS OVERSIGHT PROCESS POLICY. GALLATIN INVESTORS III LLC (FINAL) 2601 ARDEN ROAD NORTHWEST ATLANTA GA 30327 582529982 INVESTMENTS FL INVESTMENT -5087 0 0 0.24750 BEGINNINGS OF PALM BEACH COUNTY INC 4765 LANTANA ROAD LAKE WORTH FL 33463 592412927 CHILD CARE FL C 95090 1758987 1.00000 0 D & L LAND INC 901 S FLAGLER DRIVE WEST PALM BEACH FL 33401 592688950 RENTAL REAL ESTATE FL C -4551 284107 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0