2020-04-06T17:05:50-07:00 2019-05-31 990 2018-06-01 620518288 FREED-HARDEMAN UNIVERSITY FREE 7319896000 158 E Main St Henderson TN 383402398 Richard Taylor Jr Financial Analyst 7319896006 2020-04-06 12.204.194.160 2018 2020-09-23 17:36:50Z Freed-Hardeman University 158 E Main St Henderson TN 383402398 76333826 0 X www.fhu.edu X 1869 TN Freed-Hardeman University is a private school associated with churches of Christ which emphasizes physical and spiritual development of its students to prepare them for lives of service to their communities. 31 31 1067 0 181080 0 12566511 10422563 43052358 43407069 2536139 1747077 140297 181080 58295305 55757789 16126625 16583883 0 0 19584072 20239567 66000 66000 1887388 15795793 15018993 51572490 51908443 6722815 3849346 143676055 147262050 34644921 35343632 109031134 111918418 Freed-Hardeman University is a private school associated with churches of Christ which emphasizes the physical and spiritual development of its students so they can better serve their communities. 0 0 41276263 16583883 55656200 The university conducted classes for approximately 2,000 students and graduated approximately 413 during the fiscal year. The expenses included faculty salaries and benefits and auxiliary enterprises and the staff and the operations and maintenance to support them. 0 0 0 41276263 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 77 0 1 1067 1 1 1 1 BE 0 0 0 1 1 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X X Richard Taylor Jr 7319896006 158 E Main St Henderson TN 383402398 David Shannon President 40 X 164642 0 19575 Dwayne Wilson Exec Vice-President & CFO 40 X 127442 0 14209 Charles Vires Vice-President and Provost 40 X 120006 0 17281 David Clouse Vice-President 40 X 119892 0 16715 Wayne Scott Vice-President 40 X 103535 0 5669 Stephen Marvin Faculty 40 X 102621 0 15691 Richard McCaskill Executive Director, FHU Dickson 40 X 98246 0 11754 Ryan Hysmith Faculty 40 X 97691 0 14888 Leann Self-Davis Faculty 40 X 95323 0 9248 Tom DeBerry Faculty 40 X 92953 0 11611 1122351 0 136641 6 0 1 0 Alliance Corp P O Box 1480 Glasgow KY 42142 Construction contractor 3103644 EAB PO BOX 603519 CHARLOTTE NC 28260 STUDENT SEARCH 427945 Bramblett Group 117 W Main Street Henderson TN 38340 Public relations consulting 340863 E&T CONTRACTING 3615 US HWY 45 NORTH PO BOX 363 HENDERSON TN 38340 BUILDING CONTRACTOR 160926 KEPPLER SPEAKERS 3030 CLARENDON BLVD 7TH FLOOR ARLINGTON TN 38002 SPEAKER BUREAU 125000 7 0 0 1083960 0 409419 8929184 2873764 10422563 OPERATING REVENUE 611310 33976382 33976382 0 0 AUXILIARY ENTERPRISES 611310 9430687 9430687 0 0 0 0 0 0 43407069 842804 842804 0 0 0 0 0 0 0 0 0 0 221353 0 139787 0 81566 0 81566 0 81566 0 21130677 0 20226404 0 904273 0 904273 904273 0 0 0 1083960 0 0 0 0 0 0 0 0 0 0 309360 209846 99514 0 99514 0 0 55757789 45154146 181080 0 0 0 16583883 16583883 0 0 0 0 1501529 888555 457457 155517 0 0 0 0 14660268 11461732 2530823 667713 386902 296129 69978 20795 2614143 1606424 833302 174417 1076725 863263 158877 54585 0 0 37303 37303 69846 69846 0 0 66000 66000 387830 387830 1077940 405444 200023 472473 161667 4891 32134 124642 2226506 1412336 761663 52507 1212051 119252 1092799 0 0 67230 59394 7836 1350587 1169548 117221 63818 0 0 181364 181364 888909 868997 9956 9956 0 0 2229007 2179077 24965 24965 321684 109445 212239 UTILITIES 1917099 619319 1297780 STUDENT MEALS 1268201 1250158 18043 OPERATION & MAINTENANCE 442300 22880 419420 UNRELATED BUSINESS EXPENSE 258931 0 258931 920538 1174172 -253634 51908443 41276263 8744792 1887388 5178743 4649440 0 0 0 0 558313 851323 0 0 0 0 769134 326584 183126 165988 573977 717900 112041053 35043294 74580263 76997759 47250978 45871397 14581521 17575300 0 0 0 0 0 106359 143676055 147262050 3568633 3430844 438783 182248 660597 679462 15879799 29016209 0 0 2286330 1150000 0 0 10851183 0 959596 884869 34644921 35343632 X 46402106 49519178 39054818 37319300 23574210 25079940 109031134 111918418 143676055 147262050 3849346 -962062 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57859525 3518075 643892 1905613 667474 610959 58837446 51947466 5055336 3769868 1991312 327500 594333 57859525 46962098 3530832 4270512 1876795 400000 539181 51947466 50907826 2942107 -1160249 1844824 3199985 682777 46962098 43590195 4675979 3957839 1636547 -880447 560087 50907826 0.063 0.409 0.528 0 0 0 3012601 3012601 0 95515667 26391554 69124113 0 4859042 2371892 2487150 0 7179762 5234843 1944919 0 1473981 1045005 428976 76997759 ALTERNATIVE INVESTMENTS - LEVEL 1 1655880 F ALTERNATIVE INVESTMENTS - LEVEL 2 6948966 F ALTERNATIVE INVESTMENTS - LEVEL 3 2820500 F PRIVATE EQUITY FUNDS - LEVEL 3 3875871 F LAND AND OTHER INVESTMENTS 2274083 F 17575300 0 Liability under unitrust agreements 315031 Annuities payable 569838 884869 55145360 -962062 0 0 0 -962062 56107422 0 -349633 -349633 55757789 52258076 0 0 0 349633 349633 51908443 0 0 0 51908443 Schedule D, Part V, Line 4 Support of student scholarships and operating budget are the intended use of the endowment funds. Schedule D, Part XI, Line 4b Rental expenses against gross rents in 990-Part VIII, line 6b of $139,787 plus Cost of Goods Sold against Gross Sales in 990-Part VIII, line 10b of $209,846 equals $349,633. Schedule D, Part XII, Line 2d Rental expenses against gross rents in 990 Part VIII, line 6 b of $139,787 plus Cost of Goods Sold against Gross Sales in 990 Part VIII, line 10 b of $209,846 equals $349,633. 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 university policy is noted in the school's catalog, on the school's website and in printed brochures. Schedule E, Part I, Line 6 Through the student financial aid system, the school receives money to disburse to students under the Federal Work Study Program. It was $409,419 in this fiscal year and it is listed on the 990, Part VIII, line 1e. 1 Europe (including Iceland and Greenland) 1 10 Program Services Classes are taught to students 216822 South America 0 2 Program Services Classes are taught to students. 32021 Middle East and North Africa 0 3 Program Services Classes are taught to students. 276444 Central America and the Caribbean 0 3 Program Services Classes are taught to students. 30414 1 18 555701 Consultant for European prog. Europe (including Iceland and Greenland) 1 12000 By USA check 0 Book 0 0 0 0 0 0 Schedule F, Part I, Line 2 Faculty members monitor the consultant's activities while interacting with him. Also, the International Studies Office personnel monitor the financial portion through normal accounting procedures of the university. X X X X X X X 1 Thompson and Associates 112 Westwood Place Suite 250 Brentwood TN 370275327 Estate planning consulting 0 0 66000 -66000 0 66000 -66000 All States Benefit Dinner 1185549 0 1185549 0 0 0 0 0 101589 0 0 1185549 0 1185549 0 0 0 0 0 101589 101589 1083960 1 Student Scholarships 1440 16583883 0 Book Schedule I, Part I, Line 2 The school's Financial Aid Office plus the Financial Services Office follow detailed procedures which ensure the federal grant regulations are followed. These offices are audited each year by an independent external CPA firm and reported thereon to the federal government. There were "no findings" on the financial aid portion of this audit for the fiscal year being reported on. X 1 0 X X X X 0 0 0 0 0 0 0 0 0 David Shannon President 188987 0 0 0 0 0 8271 0 11304 0 208562 0 0 0 Dwayne Wilson Exec Vice-President & CFO 155242 0 0 0 0 0 6325 0 7884 0 169451 0 0 0 Charles Vires Vice-President and Provost 147706 0 0 0 0 0 5933 0 11348 0 164987 0 0 0 Schedule J, Part I, Line 1a Administrative housing allowance A Industrial Development Board 626000307 2016-03-17 7500000 Payoff 2005 Bond plus new capital expenditures 0 0 0 B Health and Educ Facility Board 521339251 2015-12-11 9850000 Payoff 2013 Bond 0 0 0 A 5304420 0 7500000 0 0 0 35384 0 0 2160196 0 0 2016 1 0 1 1 B 9821285 0 9850000 0 0 0 28715 0 0 0 0 0 2015 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 John and Rosemary Brown Past Board Member Payoff tax exempt bond X 6700000 837500 0 1 1 James Edmonds Past Board Member Payoff tax exempt bond X 100000 12500 0 1 1 Larry Bloomingburg Board Member Payoff tax exempt bond X 100000 12500 0 1 1 John and Marilyn Dodd Board member Payoff tax exempt bond X 100000 12500 0 1 1 Dale and Tippi Jones Board member Payoff tax exempt bond X 50000 6250 0 1 1 Bill Morgan Board Member Payoff tax exempt bond X 100000 12500 0 1 1 Lynn and Ramona Patterson Board member Payoff tax exempt bond X 100000 12500 0 1 1 Milton and Laurel Sewell Chancellor Payoff tax exempt bond X 100000 12500 0 1 1 Robert Shackelford Board member Payoff tax exempt bond X 100000 12500 0 1 1 Tommy Townsend Board member Payoff tax exempt bond X 150000 18750 0 1 1 Friends of FHU LLC Board members and employees Pay off tax exempt bonds X 1700000 200000 0 1 1 1150000 X 7 2464470 STOCK EXCHANGE X ADVERTISING SPACE 12 390000 FMV BY DONOR X TECH EQUIPMENT 1 19294 FMV BY DONOR 0 0 1 0 Form 990, Part IV, Line 13 The statement of the university's racially non-discriminatory policy toward students might not be in all but has been in most of its brochures, etc. This is a further explanation of the answer on Schedule E, Part I, line 2. Form 990, Part VI, Section B, Line 11b A copy of the 990 is sent to all members of the Audit Committee which is a subcommittee of the Fiscal Operations Committee of the Board of Trustees and made available to all members of the Board of Trustees upon request. Form 990, Part VI, Section B, Line 12c An electronic version of the conflict of interest policy is made available to all Board of Trustee members. All members sign a statement acknowledging the policy. Form 990, Part VI, Section B, Line 15 The president's salary is reviewed annually by the Compensation Committee, a subcommittee of the Executive Committee of the Board of Trustees. Each year the committee reviews available salary surveys, for example the survey compiled by the Chronicle of Higher Education. The committee also considers the President's performance, especially in regard to metrics on the Institution's Strategic Plan. A proposed change in his compensation is recommended by the committee for approval by the full Board of Trustees. The President sets the compensation of his direct reports including the Chancellor (when that position is filled) and compensation for each of the Vice-Presidents. Form 990, Part VI, Section C, Line 19 The institution's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Certain items are available on the institution's website. Freed-Hardeman University was granted an extension to file until April 15, 2020