2020-05-18T12:58:46-05:00 2019-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2018-07-01 620497990 Trevecca Nazarene University TREV 6152481200 333 Murfreesboro Rd Nashville TN 37210 Mariano Monzu CFO 6152481200 2020-05-18 1 Ted R Batson Jr P00721951 6785185301 139.146.132.42 2020-05-18 13:58:32 ED P 0FF61730296B1857ECE530A162D6E4BE9FF4AC3A 7C931BA0DDC4A603451D755AF2C59EECD31B74FD 2018 2020-09-23 17:36:50Z Dr Dan Boone 333 Murfreesboro Rd Nashville TN 37210 81891105 0 X www.trevecca.edu X 1935 TN Trevecca Nazarene University is a private, co-educational, Christian liberal arts university. 40 39 1306 35 0 0 3305519 6198512 65949708 69195282 1971551 2893022 -245709 -407383 70981069 77879433 16016736 17056684 0 0 28934511 31007336 0 0 966831 24276207 24648253 69227454 72712273 1753615 5167160 135813654 144021784 56084905 57270370 79728749 86751414 X Trevecca Nazarene University is a private, coeducational, Christian liberal arts university. The university exists to carry out the educational mission of the church by means of academic programs that promote scholarship, critical reflection, (continued on Schedule O) thoughtful worship, and the preparation of students for lives of meaningful service in various careers. 0 0 39345659 17056684 61547345 Instruction and Student Aid: Trevecca Nazarene University is a comprehensive, fully accredited, Christian university offering undergraduate, master's and doctoral degrees. The University offers a variety of baccalaureate majors, master's degrees in the fields of business, science, education, counseling, religion, organizational leadership, and library and information sciences. The University also currently offers three doctoral degrees. (continued on Schedule O)Instruction and Student Aid, continued: Total enrollment for the University continues to grow and increased 5% compared to the prior year from 3,927 to 4,124 total students. The University also recruited its largest first-time-freshman class to date. Trevecca awards institutional, state, and federal financial aid assisting students in developing a plan for meeting their educational expenses. The Office of Financial Aid provides guidance and resources to help students and their families bridge the gap between a student's potential resources and the University's costs. The percentage of traditional undergraduate students receiving financial aid from any source was more than 90%. 20693659 7338161 Student Services:The Center for Student Developement provides students with programs to accompany their college career at all stages. From Freshmen LEAP groups to career development counseling and internship programs, career services has everything students need to succeed. Career Services also offers job-search related strategy workshops, career exploration events, resume and interviewing education, mock interviews, business and etiquette dinners, assistance with graduate school admissions, career fairs, job postings and job referrals. (continued on Schedule O)Student Services, continued: The University continues to place strong emphasis on the School of Graduate and Continuing Studies (SGCS) and the University's online degree programs. The SGCS offers degrees of all academic levels built for students in all facets of life with 20 entirely online degree programs from the associate degree to doctorate. The University also continues strong promotional campaigns utlizing digital media, billboard, radio, and other outlets that connect prospective students to online degree programs and face-to-face offerings in Gallatin, Tullahoma, and Nashville. Other student services areas:Counseling CenterITS (Information Technology Services)Registrar SecurityTNU BookstoreLibrary 4353785 309776 Academic Support:Trevecca provides support to the academic functions across campus through the functions of the Office of the Provost, Office of the Academic Dean, Office of Institutional Research, the Center for Student Developement, the Center for Teaching and Learning, the Library, and the Center for Online Learning. 64393103 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 0 0 0 1 5312 0 1 1306 1 0 0 0 0 0 0 0 0 0 0 0 0 X 40 39 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 IL KY MA MI MN NH NY OR SC TN WV X Mariano Monzu CFO 6152481200 333 Murfreesboro Road Nashville TN 37210 X Dan Boone President 40.00 X X 134617 0 144704 Dwight Gunter Board Chairman 1.00 X X 0 0 0 Brian Wilson Board Vice Chair 1.00 X X 0 0 0 Sandy Aldridge Board Secretary 1.00 X X 0 0 0 Mark Berry Trustee 1.00 X 0 0 0 Daniel Bradshaw Trustee 1.00 X 0 0 0 Lamar Brantley Trustee 1.00 X 0 0 0 Larry Dennis Trustee 1.00 X 0 0 0 Ron DeWitt Trustee 1.00 X 0 0 0 David Asok Dhanarajan Trustee 1.00 X 0 0 0 Samuel Flores Trustee 1.00 X 0 0 0 David Graves Trustee 1.00 X 0 0 0 Marquita Hicks Trustee 1.00 X 0 0 0 Teresa Hodge Trustee 1.00 X 0 0 0 Robin Holmes Trustee 1.00 X 0 0 0 Jimmy Horton Trustee 1.00 X 0 0 0 Mark Lancaster Trustee 1.00 X 0 0 0 Shannon Litton Trustee 1.00 X 0 0 0 Greg Mason Trustee 1.00 X 0 0 0 Mike McAdory Trustee 1.00 X 0 0 0 Ronald McCormack Trustee 1.00 X 0 0 0 Bill McDaniel Trustee 1.00 X 0 0 0 Herb Modesitt Trustee 1.00 X 0 0 0 Samuel Mokeba Trustee 1.00 X 0 0 0 Dennis Moore Trustee 1.00 X 0 0 0 Wendel Nixon Trustee 1.00 X 0 0 0 John Paul Trustee 1.00 X 0 0 0 Kyle Poole Trustee 1.00 X 0 0 0 Brian Powell Trustee 1.00 X 0 0 0 Jeannie Pressley Trustee 1.00 X 0 0 0 Tim Pullin Trustee 1.00 X 0 0 0 Scott Ragan Trustee 1.00 X 0 0 0 Andy Rutherform Trustee 1.00 X 0 0 0 Bethany Silvas Trustee 1.00 X 0 0 0 Teresa Sparks Trustee 1.00 X 0 0 0 Jim Spear Trustee 1.00 X 0 0 0 Greg Story Trustee 1.00 X 0 0 0 Morris Stocks Trustee 1.00 X 0 0 0 Marc Vann Trustee 1.00 X 0 0 0 Howard Wilson Trustee 1.00 X 0 0 0 Joey Brummett Trustee (part year) 1.00 X 0 0 0 Larry Leonard Trustee (part year) 1.00 X 0 0 0 Scott Lowry Trustee (part year) 1.00 X 0 0 0 Roy Rogers Trustee (part year) 1.00 X 0 0 0 Don Smith Trustee (part year) 1.00 X 0 0 0 David Caldwell EVP of Finance 40.00 X 190174 0 36434 Stephen Pusey Provost 40.00 X 110520 0 90339 Rick Christman ASC VP Grad & Continuing Studies 40.00 X 193648 0 14574 Ryan Longnecker Director Edd Online 40.00 X 171082 0 3763 James Agee ASC Professor Business 40.00 X 148166 0 29107 Holly Whitby ASC Provost Dean Enrollment 40.00 X 147556 0 15947 Sam Green Director NPW 40.00 X 135428 0 6486 1231191 0 341354 20 0 1 0 Tree of Life Bookstores Inc 1500 S Western Ave Marion IN 46953 Bookstore 2448749 Pioneer College Caterers Inc 2684 E Sheepneck Road Culleoka TN 38451 Food Service 2326852 Case Restoration 1115 Polk Avenue Nashville TN 37210 Repairs & Maintenance 1627368 Google Inc PO Box 39000 San Francisco CA 94139 Marketing 892865 Belmont University 1900 Belmont Blvd Nashville TN 37212 Nursing Program 791663 26 41214 228850 5928448 900079 6198512 Tuition and fees 611710 61547345 61547345 Auxiliary enterprises 611710 7338161 7338161 Other program revenue 611710 309776 309776 69195282 1233591 1233591 18091 18091 2569366 2964629 -395263 -395263 -395263 2647554 12000 367542 650672 2280012 -638672 1641340 1641340 16709 41214 28829 -12120 -12120 77879433 69195282 0 2485639 17056684 17056684 724681 724681 205305 205305 24000186 20465017 3040453 494716 943583 788528 131333 23722 3498137 2768689 639565 89883 1635444 1354467 245978 34999 73309 73309 126797 126797 84542 84542 764746 409963 354783 2502264 2111461 367446 23357 1291287 1149134 35540 106613 1484833 1189354 243531 51948 4506588 4475578 31010 664977 528063 129211 7703 106931 84038 17879 5014 1157705 1100754 48748 8203 3616882 3438961 152299 25622 370650 352417 15607 2626 Food service 2019482 2019482 Instructional materials 357433 357433 Equipment purchases 182513 154259 26679 1575 5337314 4588821 657643 90850 72712273 64393103 7352339 966831 X 2334307 6138140 1000000 1500000 3542046 3013133 258748 695260 133408315 33136663 97802876 100271652 27257626 29370486 36226 2661639 2077391 920186 955722 135813654 144021784 4125435 3527646 2320590 2860366 15680000 22375000 787768 786752 28168102 23718300 5003010 4002306 56084905 57270370 X 51746303 56106795 11656656 11546329 16325790 19098290 79728749 86751414 135813654 144021784 X 5167160 2065172 -245203 35536 X X 0 1 X 1 1 1 X 4106026 5890784 4198272 3305519 6198512 23699113 4106026 5890784 4198272 3305519 6198512 23699113 2493581 21205532 836239 812972 1204870 1922682 3821048 8597811 12203 12460 13787 12796 16709 67955 32364879 295180926 0.65520 0.75000 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising events - 2014 Amount: $ 12,203. 2015 Amount: $ 12,460. 2016 Amount: $ 13,787. 2017 Amount: $ 12,796. 2018 Amount: $ 16,709. Schedule A, Part II The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 29119263 2778769 1434239 1095362 32236909 27128838 672273 2358583 1040431 29119263 24364233 380596 3415043 1031034 27128838 25376367 451653 -435834 1027953 24364233 26350249 359004 959153 886217 1405822 25376367 0.08870 0.91130 0 0 7550896 7550896 14555520 97730418 27450879 84835059 10667036 4687913 5979123 2904445 997871 1906574 100271652 Deposits held in custody 367188 Refundable loan programs 1714919 Annuity liability 569219 Life use obligation 339780 Capital lease obligation 1011200 4002306 62975154 2065172 171775 2236947 60738207 84542 17056684 17141226 77879433 55707286 136239 136239 55571047 84542 17056684 17141226 72712273 Part IV, Line 2b: Deposits held in custody represent two endowments that TNU holds and administers for other organizations. TNU does not benefit from these endowments, and they are reported as an asset with a corresponding liability. Part V, Line 4: Trevecca Nazarene University's endowment exists mainly to provide scholarships for students. Secondarily, a small portion of the fund exists to provide funding to an endowed chair position in the religion department and another small portion supports the maintenance of the student center. Part V, columns (b) and (c) - the beginning and ending balances have been adjusted to tie to the updated audited financials to consolidate the activity of TFWG Investors, LLC. Part V, lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions Part XI, Line 2d - Other Adjustments: Special fundraising events expense included on Part VIII, line 8b 28,829. Rental expenses included on Part VIII, line 6b 107,410. Change in value of split-interest agreements 35,536. Part XI, Line 4b - Other Adjustments: Student scholarships netted with tuition revenue 17,056,684. Part XII, Line 2d - Other Adjustments: Special fundraising expense included on Part VIII, Line 8b 28,829. Rental expense included on Part VIII, line 6b 107,410. Part XII, Line 4b - Other Adjustments: Student scholarships netted with tuition revenue 17,056,684. 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 organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). Schedule E, Part I, Line 6 The university receives governmental support to aid students needing educational assistance. Business Professionals Event 22815 16590 6225 7702 890 Alumni Golf Classic 14618 7708 6910 1143 9837 381 2 20490 16916 3574 2723 5435 280 438 57923 41214 16709 3866 15272 7982 1709 28829 -12120 1 Student Scholarships & Financial Aid 1582 17056684 Part I, Line 2: Scholarship recipients are selected based on established merit and need-based criteria. The Financial Aid Director and Academic Department Heads work together to select institutional scholarship recipients. Qualifications for scholarships vary. All scholarships are monitored by the Financial Aid Department and are applied directly to each student's account. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Dan Boone President 134617 0 0 0 0 0 38917 0 106592 0 280126 0 0 0 David Caldwell EVP of Finance 190174 0 0 0 0 0 11130 0 26109 0 227413 0 0 0 Stephen Pusey Provost 110520 0 0 0 0 0 36401 0 54743 0 201664 0 0 0 Rick Christman ASC VP Grad & Continuing Studies 193648 0 0 0 0 0 0 0 15294 0 208942 0 0 0 Ryan Longnecker Director Edd Online 171082 0 0 0 0 0 3488 0 720 0 175290 0 0 0 James Agee ASC Professor Business 148166 0 0 0 0 0 5003 0 24586 0 177755 0 0 0 Holly Whitby ASC Provost Dean Enrollment 147556 0 0 0 0 0 7875 0 8877 0 164308 0 0 0 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. Dr. Dan Boone, President, and Dr. Stephen Pusey, Provost, met the qualifications for and received ministerial housing allowances during the tax year. A The Health & Ed Fac Bd of the Metr Gov't of Nashville & Davidson Co TN 626139016 592029AE2 2019-05-14 24837030 Refinanced 7/30/2009 and 12/22/2010 bonds with fixed interest rate bond debt 0 0 0 A 24855121 158511 428890 2500000 21749629 2019 1 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 Part II, Line 3, Column D The total proceeds of issue reported on Part II, Line 3 differs from Part I, column (e) due to the inclusion of interest income. 72067 Financial aid/scholarships Financial assistance for tuition Amy Tallman Family member of Dr. Dan Boone, President 15115 Wages & Benefits 0 Erik Gernard Family member of Dr. Dan Boone, President 26484 Wages & Benefits 0 Gail Pusey Family member of Dr. Stephen Pusey, Provost 57486 Wages & Benefits 0 Andrea Fowler Family member of Dr. Stephen Pusey, Provost 64414 Wages & Benefits 0 Bennett Caldwell Family member of Mr. David Caldwell, EVP Business & Finance 32206 Wages & Benefits 0 X 29743 Cost X 5 852044 Cost X 2 30 Appraisal X 1 50 Cost X Miscellaneous 5 17712 Cost X Farm supplies 1 500 Cost 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The Executive Committee shall be composed of the President of the University, the Chair of the Board, the Vice-Chair of the Board, and the Secretary of the Board - all of whom shall serve ex officio - and nine additional members. The Executive Committee shall act for the Trustees in all matters not otherwise provided for in the interim between meetings, and shall care for all other duties as may be assigned to them by the entire Board of Trustees and shall through its Secretary report all business transactions to the meetings of the Board of Trustees. Form 990, Part VI, Section A, line 7a The University is the official university for the Church of the Nazarene in the southeastern United States. The University is governed by a board of trustees elected by the various districts of the Church of the Nazarene in the Southeast Educational Region. Guided by the Church of the Nazarene's Articles of Faith and the Covenant of Christian Conduct, the University welcomes students of all religious affiliations who subscribe to its ideals and standards. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and reviewed in detail by the CFO. The reviewed Form 990 is then forwarded to the Audit Committee prior to filing. Form 990, Part VI, Section B, line 12c Board members and employees shall be 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) the Employee has read Trevecca Nazarene University's Conflict of Interest Policy, and (ii) the Employee will avoid participating in any University decision in which the Employee or any affiliate could be said to have any personal financial or other stake in the decision or where other outside influences could influence the Employee's independent judgment. Copies of all Disclosure and Compliance Statements are reviewed by the VP of Finance and kept as a matter of record in the Human Resources Department. If a conflict were to arise during the course of a board meeting, the individual with the potential conflict would abstain from voting. Form 990, Part VI, Section B, line 15 The President's compensation is reviewed by the Board's compensation committee in light of the annual compensation survey. The Audit Committee reviews the compensation of the other officers annually. They use compensation surveys to determine if pay is reasonable and in-line with similar organizations. This process is documented in the board/committee minutes upon approval. Form 990, Part VI, Section C, line 19 Trevecca Nazarene University makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VII, column D 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's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C. Form 990, Part X, Lines 27-29: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Net assets without donor restrictions Line 27 - Unrestricted net assets $56,106,795 Net assets with donor restrictions Line 28 - Temporarily restricted net assets $11,546,329 Line 29 - Permanently restricted net assets $19,098,290 Subtotal $30,644,619 Total net assets $86,751,414 Form 990, Part XI, line 9: Change in value of split-interest agreements 35,536. Form 990, Part XII, Line 2c The University's Audit Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. 101 Factory Street LLC 333 Murfreesboro Road Nashville TN 37210 620497990 Property development TN 0 2367000 Trevecca Nazarene University 303 Murfreesboro Road LLC 333 Murfreesboro Road Nashville TN 37210 620497990 Property development TN 60005 1485000 Trevecca Nazarene University 411 Woodycrest LLC 333 Murfreesboro Road Nashville TN 37210 812607757 Property development TN 85500 1170000 Trevecca Nazarene University 195 Polk LLC 333 Murfreesboro Road Nashville TN 37210 620497990 Property development TN 178969 5978135 Trevecca Nazarene University TFWG Investors LLC 333 Murfreesboro Road Nashville TN 37210 474194119 Property development TN 2094226 20943602 Trevecca Nazarene University Charitable Remainder Unitrust (1) Charitable Remainder Unitrust TN Trevecca Nazarene University 0 Beneficial Interest in Trust (1) Beneficial Interest in Trust TN Trevecca Nazarene University 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0