2020-05-15T09:57:34-05:00 2019-06-30 620647474 BLACKBURN CHILDERS & STEAGALL PLC 801B SUNSET DRIVE JOHNSON CITY TN 376043033 990 2018-07-01 610470593 UNIVERSITY OF THE CUMBERLANDS INC UNIV 6065492200 6180 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 QUENTIN YOUNG CFO 6065492200 2020-05-08 1 SARAH PRESNELL P01269151 4232824511 2020-05-08 35.130.96.146 2020-05-08 08:40:24 ED P E204DE99686DBE235E7410448299232389ED5A33 3A49C441FC29E31C767B4DC11E2B4E8E23565A69 2018 2020-09-23 17:36:50Z QUENTIN YOUNG 6180 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 159232728 0 X WWW.UCUMBERLANDS.EDU X 1889 KY PRIVATE BAPTIST UNIVERSITY. 28 28 1874 2000 0 0 5504737 10563125 111607484 144411800 3314344 3810587 475257 447216 120901822 159232728 19192350 21282017 0 0 35061826 41622701 0 0 1609416 36345845 48958788 90600021 111863506 30301801 47369222 252310915 304743564 52170823 58432774 200140092 246310790 PROVIDING EXCEPTIONAL EDUCATIONAL SERVICES IN A PRIVATE BAPTIST UNIVERSITY ENVIRONMENT. 0 0 106439533 21282017 144508807 THE UNIVERSITY PROVIDES EXCEPTIONAL EDUCATIONAL SERVICES IN A PRIVATE BAPTIST UNIVERSITY ENVIRONMENT TO STUDENTS AT LESS THAN THE AGGREGATE COST OF THESE SERVICES. SUCH ACTIVITY IS THE PRIMARY PURPOSE FOR WHICH THE UNIVERSITY WAS FORMED. ATHLETICS, SALES, AND AUXILIARY INCOME IS ALSO AN ESSENTIAL COMPONENT OF THE UNIVERSITY'S PRIMARY EXEMPT PURPOSE OF PROVIDING QUALITY EDUCATIONAL SERVICE. 106439533 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 264 0 1 1874 1 0 0 0 0 0 0 0 0 0 0 0 0 X 28 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X THE ORGANIZATION 6065492200 6180 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 DAVID LEWIS DIRECTOR 1.00 X 0 0 0 DR JOHN MARK TOBY DIRECTOR 1.00 X 0 0 0 BILL GULLETT DIRECTOR 1.00 X 0 0 0 LORI LEWIS DIRECTOR 1.00 X 0 0 0 DR PAUL ESTES DIRECTOR 1.00 X 0 0 0 COOKIE HENSON DIRECTOR 1.00 X 0 0 0 DR CAROLYN PETRY DIRECTOR 1.00 X 0 0 0 PHILLIP ARMSTRONG DIRECTOR 1.00 X 0 0 0 DR TONY HANCOCK DIRECTOR 1.00 X 0 0 0 SAMUEL DAVIES DIRECTOR 1.00 X 0 0 0 DR FRENCH HARMON DIRECTOR 1.00 X 0 0 0 DR DALLAS PETRY DIRECTOR 1.00 X 0 0 0 JOHN STEWART DIRECTOR 1.00 X 0 0 0 PAUL STEELY DIRECTOR 1.00 X 0 0 0 DR OLIVER KEITH GANNON DIRECTOR 1.00 X 0 0 0 DR MARION FORCHT DIRECTOR 1.00 X 0 0 0 BILL HACKER DIRECTOR 1.00 X 0 0 0 DAVID KNOCK DIRECTOR 1.00 X 0 0 0 DAVID MYERS DIRECTOR 1.00 X 0 0 0 J HUNT PERKINS DIRECTOR 1.00 X 0 0 0 LEE BRYANT DIRECTOR 1.00 X 0 0 0 LAWRENCE BRANDSTETTER DIRECTOR 1.00 X 0 0 0 DONNIE PATRICK DIRECTOR 1.00 X 0 0 0 DONNIE RAINS DIRECTOR 1.00 X 0 0 0 GEORGETTA GANNON DIRECTOR 1.00 X 0 0 0 LONNIE WALDEN SECRETARY 5.00 X X 0 0 0 SCOTT THOMPSON VICE CHAIR 5.00 X X 0 0 0 JON WESTBRROK CHAIR 5.00 X X 0 0 0 QUENTIN YOUNG VP FOR FINANCE/CFO (AS OF MARCH 2019) 40.00 10.00 X 84649 0 19506 DR LARRY COCKRUM PRESIDENT 40.00 10.00 X 493279 0 28830 CHRISTOPHER ROLPH CFO (THROUGH MARCH 2019) 40.00 10.00 X 150194 0 23448 EMILY COLEMAN VP FOR STUDENT SERVICES 40.00 X 142819 0 5475 DR CHRISTOPHER LESKIW VP FOR ACADEMIC AFFAIRS 40.00 X 104753 0 20610 DR JERRY JACKSON VP FOR ENROLLMENT AND COMMUNICATIONS 40.00 X 157436 0 10810 DR DONNIE GRIMES VP FOR INFORMATION SERVICES 40.00 X 167295 0 21156 DR TREY JARBOE ASSOICATE VP OF ENROLLMENT 40.00 X 125698 0 14968 1426123 0 144803 7 0 1 0 VESTA TECHNOLOGY SOLUTIONS 10200 FOREST GREEN BLVD STE 112 LOUISVILLE KY 40223 GRADUATE PROGRAM MARKETING RECRUITMENT 11100657 ARAMARK RECEIVABLES LLC 1101 MARKET ST STE 45 PHILADELPHIA PA 19107 MAINTENANCE AND GROUNDS 3840254 THRULINE MARKETING INC 15500 W 113TH ST STE 200 LENEXA KS 66219 ADVERTISING 2608130 PIONEER COLLEGE CATERERS 700 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 FOOD SERVICE VENDOR 2564342 ELLUCIAN COMPANY LP 2003 EDMUND HALLEY DRIVE RESTON VA 20191 SOFTWARE SERVICES 2548101 111 10563125 133028 10563125 TUITION/FEES 611710 133456890 133456890 AUXILIARY ENTERPRISES 611710 10282016 10282016 DEPARTMENTAL SALES/SERVICES 611710 672894 672894 144411800 2537260 2537260 5397 5397 344812 0 344812 344812 344812 1273327 0 1273327 1273327 1273327 OTHER REVENUE 611710 97007 97007 97007 159232728 144508807 0 4160796 72740 72740 21209277 21209277 675830 675830 34773474 32901383 1017698 854393 6173397 5791225 231705 150467 27118 27118 1359623 1359623 3172289 3151501 20788 541426 469917 20535 50974 1316791 1277784 3744 35263 1749540 1587378 68742 93420 1024843 985160 35874 3809 5086079 4906041 162757 17281 986871 391747 595124 SERVICES 18246174 17567797 627608 50769 PLANT SERVICES 4327759 4182929 130929 13901 REPAIRS AND MAINTENANCE 1873505 1814856 53020 5629 WORK STUDY 1697632 1674743 9974 12915 7549138 7095432 153899 299807 111863506 106439533 3814557 1609416 21050037 54203248 57405 1238574 13540739 25933310 13201260 12031533 14701 8953 3000 21439 157066952 53444923 103391637 103622029 56661025 67558222 44391111 40126256 252310915 304743564 7498022 10406542 9631908 18447596 30840873 24635122 4200020 4943514 52170823 58432774 X 122484089 162040746 16050249 23110100 61605754 61159944 200140092 246310790 252310915 304743564 X 47369222 574767 -479767 -1293524 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 648781 X 0 79920531 663614 3365162 3074391 80874916 81621812 807512 5000113 1559425 85870012 77862197 689734 6285407 3215526 81621812 83372590 1271693 -1763681 4739400 279005 77862197 85017811 561712 -2206933 83372590 0.11120 0.73160 0.15730 1 0 21171526 21171526 104406977 35864540 68542437 11557787 6235257 5322530 13363037 10000457 3362580 6567625 1344669 5222956 103622029 MORGAN STANLEY 26688585 F FIFTH THIRD BANK 938782 F INVESTMENTS 39930855 F 67558222 ASSETS HELD IN TRUST BY OTHERS 13693558 OTHER ASSETS 1455906 ASSETS LIMITED AS TO USE 688691 REAL ESTATE 24288101 40126256 ACTUARIAL LIABILITY FOR ANNUITIES 1215806 FEDERAL STUDENT LOAN FUNDS 2144911 DEFERRED COMPENSATION ARRANGEMENT 588691 INTEREST RATE SWAPS 994106 4943514 137837602 574767 -760616 -185849 138023451 21209277 21209277 159232728 91919142 479767 857886 1337653 90581489 21282017 21282017 111863506 PART III, LINE 4: THE MUSEUM COLLECTIONS ARE ON DISPLAY AT THE CUMBERLAND INN FOR EDUCATIONAL PURPOSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP AGGREEMENTS -864,611. NET LOSS ON ASSETS HELD IN TRUST -446,030. REVENUES OF MOUNTAIN OUTREACH 532,908. ACTUARIAL LIABILITY ADJUSTMENT 17,117. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS OFFSETTING TUITION AND FEE INCOME 21,209,277. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF CUMBERLAND WELLNESS 331,201. EXPENSES OF MOUNTAIN OUTREACH 526,685. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL SCHOLARSHIPS OFFSETTING TUITION AND FEE INCOME 21,209,277. CONTRIBUTION TO MOUNTAIN OUTREACH 72,740. SCHEDULE D, PAGE 2, PART V DURING THE 2019 AUDIT IT WAS DETERMINED THIS TABLE HAD INCLUDED OTHER INVESTMENT BESIDES ENDOWMENT. WHEN CORRECTING THE OTHER INVESTMENT, THE DIFFERENCE BETWEEN ENDING BALANCE PRIOR YEAR AND CURRENT YEAR. 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'S NONDISCRIMINATORY POLICY IS PUBLISHED IN THE STUDENT HANDBOOK DISTRIBUTED TO STUDENTS AT THE BEGINNING OF EACH SCHOOL YEAR. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM GOVERNMENTAL AGENCIES THAT IT PASSES ON TO ITS STUDENTS IN THE FORM OF SCHLORSHIPS AND GRANTS. THE UNIVERSITY IS REIMBURSED FOR A PORTION OF FEDERAL WORKSTUDY. 1 MOUNTAIN OUTREACH PROGRAM INC 6180 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 611278580 72740 CASH CONTRIBUTION TO HELP FUND BUILDING OF HOMES FOR THOSE IN NEED 1 SCHOLARSHIPS 2267 21209277 PART I, LINE 2: THE UNIVERSITY HAS POLICIES AND PROCEDURES TO DETERMINE ELIGIBITY FOR STUDENT FINANCIAL ASSISTANCE AND COMPLIES WITH THE FEDERAL REQUIREMENTS FOR AWARDING STUDENT AID. 1 X X X X X X 0 0 0 0 0 0 0 0 0 DR LARRY COCKRUM PRESIDENT 493279 0 0 0 0 0 23516 0 5314 0 522109 0 0 0 CHRISTOPHER ROLPH CFO (THROUGH MARCH 2019) 150194 0 0 0 0 0 7788 0 15660 0 173642 0 0 0 DR JERRY JACKSON VP FOR ENROLLMENT AND COMMUNICATIONS 157436 0 0 0 0 0 5758 0 5052 0 168246 0 0 0 DR DONNIE GRIMES VP FOR INFORMATION SERVICES 167295 0 0 0 0 0 6096 0 15060 0 188451 0 0 0 A CITY OF WILLIAMSBURG 616001930 2015-03-01 10000000 SPORTS FIELD AND WELLNESS CENTER 0 0 0 B CITY OF WILLIAMSBURG 616001930 2015-04-21 6440000 CAMPUS RENOVATION AND REPAIR 0 0 0 C CITY OF WILLIAMSBURG 616001930 2015-05-11 10000000 CAMPUS RENOVATION AND REPAIR 0 0 0 D CITY OF WILLIAMSBURG 616001930 2015-08-28 10000000 CAMPUS RENOVATION AND REPAIR 0 0 0 A 10000000 3228 9996772 2015 0 0 1 1 B 6440000 2011 0 0 1 0 C 10000000 2011 0 0 1 1 D 10001218 1218 2011 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 0 0 1 FIFTH THIRD 20.500000000000 0 0 0 0 1 B 0 0 0 0 0 1 FIFTH THIRD 4.500000000000 0 0 0 0 1 C 0 0 0 0 0 1 FIFTH THIRD 12.500000000000 0 0 0 0 1 D 0 0 0 0 0 1 FIFTH THIRD 17.500000000000 0 0 0 0 1 A 0 B 0 C 0 D 0 CAMPUS RENOVATION AND REPAIR THE THREE BONDS ISSUED FOR CAMPUS RENOVATION AND REPAIR WERE THE REFUNDING OF OLDER BONDS. THE ORIGINAL PROCEEDS WERE ALL USED FOR CAPITAL RENOVATIONS AND REPAIRS. LEE BRYANT MEMBER OF THE BOARD OF TRUSTEES 322383 MR. LEE BRYANT, OWNER OF W D BRYANT & SONS TRUE VALUE HARDWARE, IS A MEMBER OF THE UNIVERSITY'S BOARD OF TRUSTEES. THE UNIVERSITY PURCHASES HARDWARE SUPPLIES FROM THE COMPANY AS IT IS CLOSER THAN SIMILAR STORES SUCH AS LOWE'S OR 84 LUMBER. 0 LEE BRYANT MEMBER OF THE BOARD OF TRUSTEES 875000 LEE BRYANT IS A MEMBER OF THE UNIVERSITY'S BOARD OF TRUSTEES. DURING THE FISCAL YEAR ENDING JUNE 30, 2019 THE UNIVERSITY PURCHASED AN APARTMENT COMPLEX FROM MR. BRYANT. THE TRANSACTION WAS AT THE DISCRECTION OF THE UNIVERSITY DUE TO THE NEED FOR ADDITIONAL HOUSING NEAR CAMPUS. THE PURCHASE WAS MADE BELOW THE APPRAISED VALUE OF THE PROPERTY. MR. BRYANT OBSTAINED FROM ALL BOARD OF TRUSTEE VOTES INVOLVING THIS TRANSACTION. 0 LAWRENCE BRANDSTETTER MEMBER OF THE BOARD OF TRUSTEES 396456 LAWRENCE BRANDSTETTER, OWNERS OF BRANDSTETTER CARROLL INC., IS A MEMBER OF THE UNIVERSITY'S BOARD OF TRUSTEES. BRANDSTETTER CARROLL INC. IS AN ARCHITECTURAL FIRM THAT IS DESIGNING THE RENOVATION OF THE LIBRARY AT THE UNIVERSITY OF THE CUMBERLANDS WILLIAMSBURG CAMPUS. BRANDSTETTER CARROLL INC. IS BEING COMPENSATED AT COMPETITIVE RATES FOR THE WORK PREFORMED. MR. BRANDSTETTER'S KNOWLEDGE OF THE UNIVERSITY AND FAIR PRICING DID INFLUENCE THE UNIVERSITY'S DECISION TO HIRE HIS FIRM BUT THE TRANSACTION WAS STILL CONSUMMATED AT ARM'S LENGTH. 0 X DISHWASHER 1 120750 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 LORI LEWIS AND DAVID LEWIS HAVE A FAMILY RELATIONSHIP. GEORGETTA GANON AND DR. KEITH GANNON HAVE A FAMILY RELATIONSHIP. DR. DALLAS PETRY AND DR. CAROLYN PETRY HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS MADE AVAILABLE TO ALL BOARD OF DIRECTORS AND MANAGEMENT. PRIOR YEARS MAY ALSO BE VIEWED THROUGH GUIDESTAR'S WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE FORMS ARE DISTRIBUTED TO THE BOARD OF TRUSTEES AND TO FACULTY AND STAFF. THESE DISCLOSURES ARE REVIEWED ANNUALLY FOR CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT OF THE UNIVERSITY IS REVIEWED ANNUALLY BY THE PERSONAL COMMITTEE OF THE BOARD OF TRUSTEES, WHICH RECOMMENDS THE COMPENSATION AND BENEFIT LEVELS TO THE FULL BOARD. ALL MANAGEMENT PERSONNEL ARE REVIEWD BY THE PRESIDENT OF THE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND AT THE DISCRETION OF THE BOARD OF DIRECTORS AND MANAGEMENT. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENTS -864,611. ACTUARIAL LIABILITY 17,117. NET LOSS ON ASSETS HELD IN TRUST BY OTHERS -446,030. CUMBERLAND WELLNESS PROPERTIES INC 6180 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 261289884 LEASES EDUCATIONAL PROPERTY TO UNIVERSITY OF THE CUMBERLANDS, INC. KY 501(C)(3) LINE 12C, III-FI UNIVERSITY OF THE CUMBERLANDS INC 1 MOUNTAIN OUTREACH PROGRAM INC 6180 COLLEGE STATION DRIVE WILLIAMSBURG KY 40769 611278580 CONSTRUCT HOUSING FOR NEEDY FAMILIES KY 501(C)(3) LINE 7 UNIVERSITY OF THE CUMBERLANDS INC 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 CUMBERLAND WELLNESS PROPERTIES INC K 165064 FAIR MARKET VALUE MOUNTAIN OUTREACH PROGRAM INC B 72740 FAIR MARKET VALUE