2020-04-09T15:50:12-05:00 2019-05-31 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2018-06-01 582624570 Shorter University SHOR 7062912121 315 Shorter Avenue Rome GA 301654267 Michelle Stricklin VP of Finance, CFO 7062912121 2020-04-09 1 Ted R Batson Jr P00721951 6785185301 139.146.132.42 2020-04-09 16:50:04 ED P B192CC0D102847318814F28D1D78F3A4F74CC717 F8DAE7B8F3AA63F79B4127C57EFB7FEF9B47D42E 2018 2020-09-22 18:59:49Z Dr Donald V Dowless 315 Shorter Avenue Rome GA 301654267 49197020 0 X www.shorter.edu X 1873 GA Shorter University is a private Christian non-profit comprehensive liberal arts institution. 30 30 612 41 0 0 3503439 3469140 32010931 30472757 650798 1715459 47312 7175 36212480 35664531 10979219 10956793 0 0 13868607 14334659 0 0 326205 13001665 10404204 37849491 35695656 -1637011 -31125 60294612 57979928 22592381 21928830 37702231 36051098 Advancing God's Kingdom through a commitment to academic excellence, spiritual growth, Christian leadership, and global service within the context of a biblical worldview. 0 0 19045522 10956793 24628080 Instructional - Funds expended for instructional activities in Associate, Bachelor, and Master degree programs. Enrollment in 2018-2019 included 1,834 students.Scholarship and financial aid - Comprehensive financial assistance program includes scholarships, grants, loans and part-time campus employment. Every student enrolled full-time at Shorter University receives some form of financial assistance. 5741775 5606345 Student support - Funds expended for activities contributing to students' well being and intellectual, cultural, and social development outside of formal instruction. 3999998 238332 Academic support - Expenditures integral to the operation and support of the academic services of the University.Auxiliary enterprises - Expenditures to provide services to student, faculty, and staff including housing, cafeteria, and bookstore. 28787295 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 1 0 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 2151 0 1 612 1 0 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 GA X Michelle Stricklin 7062912121 315 Shorter Avenue Rome GA 301654267 Dr Glenn Cummings Board Chair 1.00 X X 0 0 0 Rev David Harper part year Board Chair 1.00 X X 0 0 0 Jerry Emerson Vice Chair of Board 1.00 X X 0 0 0 Bob Bagley Secretary 1.00 X X 0 0 0 Dr Stephen Anthony Trustee 1.00 X 0 0 0 Randy Bowen Trustee 1.00 X 0 0 0 Russ Brown Trustee 1.00 X 0 0 0 Danny Cochran Trustee 1.00 X 0 0 0 Cheryl Cox Trustee 1.00 X 0 0 0 William Fricks Trustee 1.00 X 0 0 0 Susie Gass Trustee 1.00 X 0 0 0 Bryan Griffin Trustee 1.00 X 0 0 0 Gerald Harris Trustee 1.00 X 0 0 0 John Hatcher Trustee 1.00 X 0 0 0 Dr Thomas Hammond Ex-Officio Member 1.00 X 0 0 0 Vivian Johnson Trustee 1.00 X 0 0 0 Wanda Levan Trustee 1.00 X 0 0 0 Larry Maxey Trustee 1.00 X 0 0 0 Philip May Trustee 1.00 X 0 0 0 Keith McBroom Trustee 1.00 X 0 0 0 Rick Mills Trustee 1.00 X 0 0 0 Rev Jeff Overton Trustee 1.00 X 0 0 0 Amy Patterson Trustee 1.00 X 0 0 0 John Pennington Trustee 1.00 X 0 0 0 Greg Polley Trustee 1.00 X 0 0 0 Kelvin Ratliff Trustee 1.00 X 0 0 0 Bryan Rice Trustee 1.00 X 0 0 0 Bob Richardson Trustee 1.00 X 0 0 0 Rev Ben Smith Trustee 1.00 X 0 0 0 Drew Startup Trustee 1.00 X 0 0 0 Joe Tanner Trustee 1.00 X 0 0 0 Darey Kittle part year Trustee 1.00 X 0 0 0 Dr Phillip May part year Trustee 1.00 X 0 0 0 Sherold Salmon part year Trustee 1.00 X 0 0 0 Derek Spain part year Trustee 1.00 X 0 0 0 Tony Swafford part year Trustee 1.00 X 0 0 0 Rickey Underhill part year Trustee 1.00 X 0 0 0 J Robert White part year Ex-Officio Member 1.00 X 0 0 0 Dr Donald Dowless President 60.00 X 174866 0 36639 Dr Donald Martin Provost 60.00 X 133048 0 21803 Susan Zeird VP of Finance, CFO 60.00 X 106113 0 9432 Kathi Vosevich Assistant Provost 40.00 X 103200 0 8176 517227 0 76050 4 0 1 0 Sysco Atlanta LLC 2225 Riverdale College Park GA 30337 Food services 565062 Jenzabar PO Box 55018 Boston MA 022055018 IT Services 337110 Clark Communications 2 Westside Dr Ashville NC 28806 Marketing 176879 Capin Crouse 972 Emerson Pkwy Greenwood IN 46143 Audit services 153374 4 59152 2247724 261964 900300 184177 3469140 Tuition and fees 611110 24628080 24628080 Student support 611110 5606345 5606345 Academic support 611110 238332 238332 30472757 417664 417664 8900 0 8900 8900 8900 14699665 122200 13369369 154701 1330296 -32501 1297795 1297795 2861 59152 8419 -5558 -5558 Insurance Proceeds 711300 3833 3833 3833 35664531 30472757 0 1722634 10956793 10956793 475472 218717 214917 41838 11484444 9662640 1621390 200414 26309 21782 4002 525 1511838 1272495 212998 26345 836596 698153 121829 16614 81674 81674 178798 178798 58964 58964 795205 499549 295656 60 60 503925 414839 76918 12168 407185 407185 2145423 707610 1437813 532139 522226 8473 1440 1023073 512985 486517 23571 819653 706298 113355 1236733 1067961 168772 773650 515335 258315 Food service 606268 606268 Bad Debt Expense 450609 450609 Repairs and Maintenance 346818 85505 261313 444027 318079 122658 3290 35695656 28787295 6582156 326205 X 1170161 623295 535305 438122 1071784 760519 11455 10025 511231 379343 69456124 31239280 39166969 38216844 14699115 14581653 1086368 1022281 2042224 1947846 60294612 57979928 2155269 1500775 756321 589833 18201710 17914574 1479081 1923648 22592381 21928830 X 20147433 21760321 17554798 14290777 37702231 36051098 60294612 57979928 X -31125 -1139303 -383305 -97400 X X 0 1 X 1 1 1 X 3328177 8440444 4153010 3503439 3469140 22894210 3328177 8440444 4153010 3503439 3469140 22894210 1228902 21665308 578308 481651 289431 307666 426564 2083620 9972 7936 6694 24602 25002432 135582202 0.86650 0.87090 X Schedule A, Part II, Line 10, Explanation of Other Income: Insurance proceeds - 2014 Amount: $ 9,972. 2017 Amount: $ 7,936. 2018 Amount: $ 3,833. Fundraising event fees - 2018 Amount: $ 2,861. 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 319669 X X X 0 13511208 44047 420277 600000 2846844 10528688 13002208 118930 933104 543034 13511208 14613760 10390 1597169 862800 2356311 13002208 15261282 1056538 -113138 658800 932122 14613760 14987046 47655 911031 608100 76350 15261282 0.00000 1.00000 0.00000 1 1 1 10000 2836233 2846233 48435025 22764347 25670678 1801708 846799 954909 16230155 7628134 8602021 143003 143003 38216844 Annuities payable 6177 Refundable advances from federal government 859005 Conditional asset retirement obligation 648852 Retirement Contribution liability 409614 1923648 23438170 -1139303 17680 -88981 -1210604 24648774 58964 10956793 11015757 35664531 24705998 17680 8419 26099 24679899 58964 10956793 11015757 35695656 Part III, Line 4: Collection items consist of artwork, artifacts, and exotic taxidermy donated to the University, which are on display in various locations on the campus. Part V, Line 4: The majority of Shorter University's endowment intends to provide scholarships to students with a small amount restricted for professorships. Part XI, Line 2d - Other Adjustments: Change in value of split interest agreement -97,400. Event Expenses 8,419. Part XI, Line 4b - Other Adjustments: Student financial aid netted with revenue on financial statement 10,956,793. Part XII, Line 2d - Other Adjustments: Fundraising event expenses 8,419. Part XII, Line 4b - Other Adjustments: Student financial aid netted with revenue on financial statement 10,956,793. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The school's nondiscriminatory policy can be found on page 3 of the 2018 - 2019 Academic Catalog. https://www.shorter.edu/wp-content/uploads/2018-2019-Catalog- PDF.pdf The policy has also been added to the Shorter University website. The addition of the policy to the website will allow the University to respond "yes" to this question on future returns. https://www.shorter.edu/ Schedule E, Part I, Line 6 The federal government awards the University various monies restricted for student financial aid. The monies are awarded through four federal programs: Pell Grant (Pell), Federal Direct Student Loans (FDL), Federal Work Study (FWS), Federal Supplemental Educational Opportunity Grant (FSEOG) and TEACH grants (TEACH). East Asia and the Pacific 0 0 Program services Study abroad 5695 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Program services Study abroad 24305 0 0 0 0 0 0 30000 0 30000 0 0 0 0 0 0 Part I, line 3: Accrual method is used to account for foreign expenditures. President's Gala 56432 54912 1520 3568 4619 Fundraising Tea 5581 4240 1341 232 62013 59152 2861 3568 4851 8419 -5558 1 Scholarships 949 10956793 Part I, Line 2: Shorter University participates in the student financial assistance programs through the U.S. Department of Education. Funds are awarded and applied to student accounts based on the Department of Education guidelines set forth by the Title IV programs. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Dr Donald Dowless President 172094 0 0 0 2772 0 0 0 37578 0 212444 0 0 0 Dr Donald Martin Provost 130672 0 0 0 2376 0 0 0 22664 0 155712 0 0 0 Part I, Line 1a Per direction from the Board of Trustees and in accordance with IRC Section 119, the President of the University resides on campus in University provided non-taxable housing with a yearly rental value of $24,000. X Equipment 9 106267 Appraisal X Carpet 1 64638 Purchase price X Misc 13 8864 Replacement cost X Travel/Meals 6 4408 Purchase price 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 governing body delegates broad authority to an Executive Committee consisting of the Chair, the Vice Chair,and Secretary of the Board of Trustees, the Chair of the Finance and Investment Committee, and three other Board of Trustees members elected by the Board of Trustees at the annual meeting. The Executive Committee has full power and authority to act and to transact any business for and on behalf of the University and in the place of the Board of Trustees during the interim between meetings of the Board of Trustees. Form 990, Part VI, Section A, line 6 The Baptist Convention of the State of Georgia is the University's sole member. Form 990, Part VI, Section A, line 7a All Trustees shall be elected by the Member, including those elected to fill any vacancy on the Board of Trustees. Form 990, Part VI, Section A, line 7b All Trustees are elected by the Member and the Member has the right to vote on any proposal of dissolution. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the Chief Financial Officer. The reviewed Form 990 is then forwarded to the Board of Trustees before it is filed with the IRS. Form 990, Part VI, Section B, line 12c The University requires employees, the Board of Trustees, and Officers to annually sign a conflict of interest statements disclosing any conflicts of interest. The administrative assistant to the President reviews the statements and gives any statements indicating a conflict to the President; the President discloses the conflict to the head of the Board; the Board or a committee determines whether an actual conflict exists. If a conflict of interest arises at a board meeting, the Board member is prohibitted from voting on or discussing any matter in which they have a conflict. Form 990, Part VI, Section B, line 15 15a) The independent Executive Committee approves the President's compensation annually and the deliberation and decision are documented in the committee minutes. A compensation comparability study was conducted three years ago. 15b) Independent members of the board of trustees approve the annual budget which includes compensation for other officers. The salary approval forms are reviewed and signed by the President. These signed forms are kept in the indivudual's employment file. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. 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 05/31/2019. The 2018 Form 990 and its associated schedules were not 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: Line 27 - Net assets without donor restrictions $21,760,321 Line 29 - Net assets with donor restrictions 14,290,777 ----------- Total net assets $36,051,098 Form 990, Part XI, line 9: Change in value of split interest agreement -97,400. Form 990, Part XII, Line 2c: The University has a committee that assumes responsibility for oversight of the audit of its financials and selection of an independent accountant. This process has not changed since prior year. Baptist Convention of the State of Georgia 6405 Sugarloaf Parkway Duluth GA 30097 580566245 Church GA 501(c)(3) Line 1 N/A 0 Georgia Baptist Foundation Inc 6405 Sugarloaf Parkway Duluth GA 30097 586030046 Trust agency for endowments GA 501(c)(3) Line 1 Georgia Baptist Mission Board 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 Baptist Convention of the State of Georgia C Baptist Convention of the State of Georgia M Georgia Baptist Foundation Inc C