2025-09-25T16:07:28-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2023-07-01 560529988 WILLIAM PEACE UNIVERSITY WILL 9195082035 15 EAST PEACE STREET RALEIGH NC 27604 ROBERT HITE INTERIM CFO 9195082035 2025-09-25 1 1 SARAH HINTZ P00492291 7196350330 2025-09-25 2023 2025-03-06 01:10:19Z DR LYNN MORTON 15 EAST PEACE STREET RALEIGH NC 27604 26077932 0 X WWWW.PEACE.EDU X 1857 NC PREPARE STUDENTS FOR CAREERS IN THE ORGANIZATIONS OF TOMORROW. 25 25 414 50 134211 0 3697270 1602804 22502125 22933551 238815 1299595 394524 143969 26832734 25979919 8913762 10919100 0 0 11137042 11755470 0 0 715698 14278606 11987257 34329410 34661827 -7496676 -8681908 77092477 76607549 14065099 18672740 63027378 57934809 X WILLIAM PEACE UNIVERSITY IS A PRIVATE FOUR-YEAR UNIVERSITY IN DOWNTOWN RALEIGH, NORTH CAROLINA. THE MISSION OF THE UNIVERSITY IS TO PREPARE STUDENTS FOR CAREERS IN THE ORGANIZATIONS OF TOMORROW. ROOTED IN THE LIBERAL ARTS TRADITION, THE STUDENT DEVELOPS AN APPRECIATION FOR LIFE-LONG LEARNING, A FOCUS ON MEANINGFUL CAREERS, AND SKILLS FOR ETHICAL CITIZENSHIP. ON AVERAGE, OVER 95 PERCENT OF OUR GRADUATES GO ON TO JOBS OR CAREERS WITHIN A YEAR OF GRADUATION. 0 0 7296848 0 18819446 INSTRUCTION & ACADEMIC SUPPORT: WILLIAM PEACE UNIVERSITY IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS COMMISSION ON COLLEGES (SACSCOC). THE INSTITUTION OFFERS 3 TYPES OF BACHELOR'S DEGREES IN OVER 25 MAJORS. SERVING APPROXIMATELY 800 STUDENTS, 95% OF OUR GRADUATES ARE EMPLOYED FULLTIME OR ENTER GRADUATE SCHOOL WITHIN ONE YEAR OF GRADUATION. WILLIAM PEACE PROVIDED $10,919,100 OF GRANTS AND ASSISTANCE TO UNIVERSITY STUDENTS TO AID IN THE PERSUIT OF THEIR DEGREE. 13240298 10919100 3979894 AUXILIARY ENTERPRISES: THERE ARE 6 RESIDENCE HALLS ON CAMPUS AT WILLIAM PEACE UNIVERSITY. EACH RESIDENCE HALL HAS ITS PARTICULAR STYLE AND HISTORY. RESIDENT ASSISTANTS LIVE ON EACH FLOOR, READY TO ANSWER QUESTIONS, FOSTER GROUP DISCUSSIONS, ORGANIZE ACTIVITIES AND MORE. WPU ROOMS INCLUDE WIRED AND WIRELESS INTERNET, FREE BASIC CABLE AND NO COST LAUNDRY. ADDITIONALLY, WPU PROVIDES THE OPTION OF UNIVERSITY AFFILIATED STUDENT HOUSING TO ALL SOPHOMORE, JUNIOR AND SENIOR STUDENTS. THESE OFF CAMPUS APARTMENTS PROVIDE AN EXCELLENT STUDENT HOUSING COMMUNITY IN RALEIGH, WITH FOUR BEDROOM OPTIONS TO FIT ALL LIFESTYLES. OPERATING IN THE SAME MANNER AS ON CAMPUS HOUSING, VILLAGE GREEN AT RALEIGH APARTMENTS HAVE WILLIAM PEACE UNIVERSITY RESIDENT STAFF LIVING ON SITE. THE NEWLY RENOVATED BELK DINING HALL OFFERS TASTY, NUTRITIONAL FOOD OPTIONS, INCLUDING A SALAD BAR, DELI, COOKED TO ORDER EXPO STATION AND A VARIETY OF DAILY COOKED MEALS. PEACE PERK, THE ON CAMPUS COFFEE SHOP, OFFERS STARBUCKS COFFEE, SANDWICHES, SNACKS AND A PLACE TO HANG OUT. THE WPU BOOKSTORE IS THE BEST PLACE TO FIND PACER GEAR. 7100990 0 0 STUDENT SERVICES & ACTIVITIES: WITH OVER 30 STUDENT CLUBS AND ORGANIZATIONS, THERE ARE PLENTY OF OPPORTUNITIES FOR A STUDENT TO GET INVOLVED AT WPU. COMMUNITY SERVICE IS ENCOURAGED AND STUDENTS EMBRACE THE CONCEPT OF GIVING BACK. STUDENT SERVICES ALSO INCLUDES HEALTH AND COUNSELING SERVICES. HEALTH SERVICES CAN PROVIDE ROUTINE TREATMENT FOR MINOR ILLNESSES AND INJURIES, WHILE MAINTAINING CONFIDENTIAL MEDICAL INFORMATION FOR STUDENTS. IT ALSO PROMOTES AWARENESS FOR HEALTH AND WELLNESS THROUGH CAMPUS EVENTS AND ACTIVITIES. THE COUNSELING CENTER PROVIDES SHORT TERM, PROFESSIONAL COUNSELING TO STUDENTS COPING WITH THE CHALLENGES OF COLLEGE LIFE. WILLIAM PEACE UNIVERSITY OFFERS STUDENTS THE CHANCE TO PLAY AND ENJOY INTERCOLLEGIATE SPORTS. WPU IS A MEMBER OF THE U.S.A. SOUTH ATHLETIC CONFERENCE OF THE NCAA DIVISION III AND FIELDS TEAMS IN EIGHTEEN SPORTS INCLUDING BASEBALL, BASKETBALL, CROSS COUNTRY, GOLF, LACROSSE, SOCCER, SOFTBALL, SWIMMING, TENNIS, TRACK, AND VOLLEYBALL. WILLIAM PEACE UNIVERSITY ALSO OFFERS INTRAMURAL SPORTS LEAGUES FOR ALL INTEREST LEVELS. 27638136 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 1065 0 1 414 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X BELINDA BURKE 9195082035 15 E PEACE ST RALEIGH NC 27604 ALYSON GORDON CHAIR 5.00 0.00 X X 0 0 0 ROB WOOD VICE-CHAIR 5.00 0.00 X X 0 0 0 STUART PHOENIX TREASURER 5.00 0.00 X X 0 0 0 TONY PARHAM SECRETARY 2.00 0.00 X X 0 0 0 KAREN ALBRITTON TRUSTEE 2.00 0.00 X 0 0 0 ELENA ASHBURN TRUSTEE 2.00 0.00 X 0 0 0 MARY-ANN BALDWIN TRUSTEE 2.00 0.00 X 0 0 0 LAURA BUNN TRUSTEE 2.00 0.00 X 0 0 0 JASON COOPER TRUSTEE 2.00 0.00 X 0 0 0 LYNN ERDMAN TRUSTEE 2.00 0.00 X 0 0 0 KACIE FORE TRUSTEE 2.00 0.00 X 0 0 0 KELLY GAINES TRUSTEE 2.00 0.00 X 0 0 0 SARAH GASKILL TRUSTEE 2.00 0.00 X 0 0 0 JENNINGS GLEN TRUSTEE 2.00 0.00 X 0 0 0 HAROLD HICKS TRUSTEE 2.00 0.00 X 0 0 0 KIM KITCHINGS TRUSTEE 2.00 0.00 X 0 0 0 DURON LEE TRUSTEE 2.00 0.00 X 0 0 0 LYNN MANESS TRUSTEE 2.00 0.00 X 0 0 0 BILL MCLAURIN TRUSTEE 2.00 0.00 X 0 0 0 LYNN MORTON TRUSTEE 2.00 0.00 X 0 0 0 MARK PACCIONE TRUSTEE 2.00 0.00 X 0 0 0 BILLIE REDMOND IMMEDIATE PAST CHAIR 2.00 0.00 X 0 0 0 TAYLOR SHAW TRUSTEE 2.00 0.00 X 0 0 0 GEORGE STANZIALE TRUSTEE 2.00 0.00 X 0 0 0 JACQUELINE WHITTENBURG TRUSTEE 2.00 0.00 X 0 0 0 BRIAN RALPH PRESIDENT (THRU 6/24) 50.00 2.00 X 373707 0 22867 BELINDA BURKE CFO, VP OF FINANCE AND ADMIN 50.00 2.00 X 197302 0 18785 DAMON WADE VP OF ENROLLMENT MGMNT AND MKTNG 40.00 0.00 X 186849 0 18400 LYNDA SZYMANSKI VP OF ACADEMIC AFFAIRS 40.00 0.00 X 179358 0 30170 FRANK RIZZO VP OF STUDENT LIFE 40.00 0.00 X 148743 0 29142 PAUL SCHERSCHEL VP OF UNIVERSITY ADVANCEMENT 40.00 0.00 X 139517 0 11419 CLAUDE SHIELDS DIR. ATHLETICS/HEAD MEN'S BB COACH 40.00 0.00 X 106313 0 11352 1331789 0 142135 11 0 1 0 SODEXO INC PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES IN DINING HALL 2167232 ALLEGIANCE INDUSTRIES INC PO BOX 96591 CHARLOTTE NC 28296 HOUSEKEEPING SERVICES 478891 22 506609 102333 993862 1602804 TUITION AND FEES 611310 18819446 18819446 AUXILARY ENTERPRISES 611710 3979894 3979894 CONFERENCE & EVENTS 531120 134211 134211 22933551 1299117 1299117 98491 98013 478 478 478 OTHER INCOME 900099 143969 143969 143969 25979919 22799340 134211 1443564 10919100 10919100 546832 145670 368791 32371 9194558 6908536 1893350 392672 176976 146164 22259 8553 1156585 825214 288279 43092 680519 496334 153037 31148 87195 87195 118654 118654 3417482 2774352 475115 168015 437333 91772 341866 3695 94199 37077 54490 2632 946381 5500 928290 12591 942757 875395 67362 384228 377189 6827 212 607496 607496 1529432 1335194 194238 486270 486270 OVERHEAD 1188351 850091 338260 PROGRAM SUPPORT 1076745 749690 308786 18269 OPERATIONS & MAINTENANC 435783 401234 34549 TRAINING & DEVELOPMENT 234951 92128 140375 2448 34661827 27638136 6307993 715698 8667002 6656054 898722 984821 360213 1090852 2802233 524438 476011 424260 57744349 26782005 31743365 30962344 30272322 34190774 25344 79904 1847265 1694102 77092477 76607549 1842527 1484453 751356 811984 11388217 11158899 82999 5217404 14065099 18672740 X 18766987 11620058 44260391 46314751 63027378 57934809 77092477 76607549 X -8681908 3536808 52531 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42204637 488893 5086361 -4311235 483699 51607427 40645259 950483 3801355 1661175 1131508 399777 42204637 47725778 399046 -4212198 1627621 1134424 505322 40645259 41842891 141839 8564243 1308058 938844 586293 47725778 42689338 230086 910077 753714 584376 648520 41842891 0.01148 0.74400 0.24452 1 1 1 6248513 6248513 42011463 19735512 22275951 405800 405800 9078573 7046493 2032080 30962344 ACCRUED INTEREST 26285 ANNUITIES PAYABLE 11859 LEASE PAYABLE 1475 DUE TO RELATED ORGANIZATION 5177785 5217404 X 20453973 3536808 33000 -8589144 -5019336 25473309 506610 506610 25979919 25282032 33000 33000 25249032 9412795 9412795 34661827 PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. WITH RESPECT TO ANY UNRELATED BUSINESS INCOME GENERATED BY THE UNIVERSITY, IT RECORDS INCOME TAXES USING THE LIABILITY METHOD UNDER WHICH DEFERRED TAX ASSETS AND LIABILITIES ARE DETERMINED BASED ON THE DIFFERENCES BETWEEN THE FINANCIAL ACCOUNTING AND TAX BASES OF ASSETS AND LIABILITIES. DEFERRED TAX ASSETS OR LIABILITIES AR THE END OF EACH PERIOD ARE DETERMINED USING THE CURRENTLY ENACTED TAX RATE EXPECTED TO APPLY TO TAXABLE INCOME IN THE PERIOD THAT THE DEFERRED TAX ASSET OR LIABILITY IS EXPECTED TO BE REALIZED OR TO BE SETTLED. AS OF JUNE 30, 2024 AND 2023 THE UNIVERSITY HAD NO DEFERRED TAX ASSETS OR LIABILITIES OR ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS NETTED WITH REVENUES ON FINANCIAL STATEMENTS -9,414,632. RELATED ORGANIZATION REVENUES 825,488. PART XI, LINE 4B - OTHER ADJUSTMENTS: RELATED ORGANIZATION GRANT ELIMINATED ON FINANCIAL STATEMENTS 506,610. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS NETTED WITH REVENUES ON FINANCIAL STATEMENTS 9,414,632. 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 RACIALLY NONDISCRIMINATORY POLICY IS NOT LISTED ON THE ORGANIZATIONS WEBSITE HOMEPAGE, BUT IS INSTEAD LISTED WITHIN THE STUDENT LIFE TAB OF THE WEBSITE. SCHEDULE E, PART I, LINE 6 WILLIAM PEACE UNIVERSITY RECEIVES FUNDS FROM GOVERNMENTAL AGENCIES TO BE USED AS FINANCIAL AID TO STUDENTS AND FROM SPECIAL GRANTS AWARDED FOR SPECIAL PROGRAMS. ALL PROGRAMS AND FINANCIAL AID AWARDS ARE ADMINISTERED ON A NONDISCRIMINATORY BASIS. 1 INSTITUTIONAL GRANTS 557 9414632 0 N/A N/A NORTH CAROLINA NEED BASED ASSISTANCE 262 1475508 0 N/A N/A FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT 17 28960 0 N/A N/A PART I, LINE 2: ALL GRANTS ARE SCHOLARSHIPS MADE TO STUDENTS AT THE UNIVERSITY. STUDENTS MUST MAINTAIN ENROLLMENT AND CERTAIN REQUIREMENTS TO MAINTAIN THEIR SCHOLARSHIPS. STUDENTS MUST SUBMIT FINANCIAL INFORMATION TO ESTABLISH QUALIFICATIONS FOR NEEDS BASED SCHOLARSHIPS. X 1 1 X X 1 0 0 0 0 0 0 0 0 BRIAN RALPH PRESIDENT (THRU 6/24) 288750 0 0 0 84957 0 8663 0 14204 0 396574 0 0 0 BELINDA BURKE CFO, VP OF FINANCE AND ADMIN 195400 0 0 0 1902 0 5862 0 12923 0 216087 0 0 0 LYNDA SZYMANSKI VP OF ACADEMIC AFFAIRS 174330 0 0 0 5028 0 5481 0 24689 0 209528 0 0 0 DAMON WADE VP OF ENROLLMENT MGMNT AND MKTNG 182700 0 0 0 4149 0 5481 0 12919 0 205249 0 0 0 FRANK RIZZO VP OF STUDENT LIFE 145545 0 0 0 3198 0 4872 0 24270 0 177885 0 0 0 PAUL SCHERSCHEL VP OF UNIVERSITY ADVANCEMENT 137000 0 0 0 2517 0 3750 0 7669 0 150936 0 0 0 PART I, LINE 1A AS PROVIDED IN THEIR CONTRACT, THE PRESIDENT RECEIVES A HOUSING ALLOWANCE IN LIEU OF A RESIDENCE OWNED BY THE UNIVERSITY. THIS IS TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT. PART I, LINE 4A BRIAN RALPH WAS GRANTED A SEVERANCE OF $6,663 UPON HIS DEPARTURE FROM THE UNIVERSITY. 0 0 0 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A THE EXCECUTIVE COMMITTEE IS COMPRISED OF THE BOARD CHAIR, VICE-CHAIR, PAST CHAIR, SECRETARY, UNIVERSITY PRESIDENT, AND CHAIRS OF EACH ORGANIZATIONAL COMMITTEE (BUSINESS OPERATIONS COMMITTEE, ACADEMIC AFFAIRS COMMITTEE, ADVANCEMENT COMMITTEE, STUDENT ENGAGEMENT AND ENROLLMENT COMMITTEE, AND NOMINATING AND GOVERNANCE COMMITTEE). THE EXECUTIVE COMMITTEE RESERVES THE RIGHT TO ACT ON BEHALF OF THE ENTIRE GOVERNING BODY WHEN NECESSARY AND WILL REPORT TO THE REMAINING BOARD MEMBERS VIA REGULAR MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 11B THE IRS FORM 990 IS REQUIRED TO BE REVIEWED BY THE UNIVERSITY BOARD OF TRUSTEES EACH YEAR PRIOR TO BEING FILED. A DRAFT VERSION OF THE FORM IS REVIEWED FIRST BY THE ASSISTANT CONTROLLER, CONTROLLER, CFO, AND VICE PRESIDENT FOR ADMINISTRATION. THE CFO AND VICE PRESIDENT FOR ADMINISTRATION ARE RESPONSIBLE FOR SUBMITTING THE DRAFT VERSION OF THE FORM 990 TO MEMBERS OF THE BUSINESS OPERATIONS COMMITTEE OF THE BOARD OF TRUSTEES OF THE UNIVERSITY. COMMITTEE MEMBERS ARE REQUESTED TO REVIEW THE FORM 990 AND SUBMIT QUESTIONS AND/OR OTHER FEEDBACK TO THE ADMINISTRATION. THE FULL BOARD REVIEWS THE FORM 990 ON A HIGH LEVEL PRIOR TO IT BEING FILED. THE ASSISTANT CONTROLLER COORDINATES WITH THE UNIVERSITY'S TAX PREPARERS FOR FILING AFTER THE REVIEW PERIOD. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS RECEIVE A CONFLICT OF INTEREST FORM ANNUALLY WHERE THEY DISCLOSE ANY RELATIONSHIPS THEY HAVE WITH PARTIES RELATED TO THE UNIVERSITY. ALL RELATIONSHIPS NOTED ARE REVIEWED FOR APPROPRIATENESS AND FURTHER ACTION IS TAKEN IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY OBTAINED THE SERVICES OF A REPUTABLE LAW FIRM TO REVIEW THE REASONABLENESS OF THE PRESIDENT'S COMPENSATION AND RENDER THEIR OPINION. THEIR WORK INCLUDED REVIEWING THE EMPLOYMENT AGREEMENT BETWEEN THE UNIVERSITY AND THE PRESIDENT, BYLAWS, MINUTES, RELATED IRS CODE SECTIONS, AND RELATED TAX CASES DEALING WITH COMPENSATION. THEY ALSO COMPARED THE SALARY TO THE CURRENT PRESIDENT'S FORMER SALARY AND TO THE FORMER PRESIDENT'S SALARY. THEY RENDERED AN OPINION THAT THE COMPENSATION IS REASONABLE DEFINED BY THE CODE, TREASURY REGULATIONS, AND RELEVANT JUDICIAL DECISIONS. FOR OTHER KEY MEMBERS OF MANAGEMENT, THE HUMAN RESOURCES OFFICE USES COMPARABILITY STUDIES TO DETERMINE REASONABLE SALARY LEVELS. THE PRESIDENT APPROVES THE SALARY BEFORE OFFERS ARE MADE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: INTERCOMPANY ELIMINATIONS 52,531. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. PEACE UNIVERSITY PROPERTIES LLC 15 EAST PEACE STREET RALEIGH NC 27604 560529988 REAL ESTATE NC 0 3497501 WILLIAM PEACE UNIVERSITY WILLIAM PEACE UNIVERSITY FOUNDATION 15 EAST PEACE STREET RALEIGH NC 27604 560792704 SUPPORT NC 501(C)(3) LINE 12A, I WILLIAM PEACE UNIVERSITY 1 WILLIAM PEACE UNIVERSITY AND FOUNDATION ENDOWMENT INVESTMENT 15 PEACE STREET RALEIGH NC 27604 943481706 INVESTMENT NC N/A INVESTMENT 232865 5132295 0 0 0.84660 0 0 1 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 WILLIAM PEACE UNIVERSITY FOUNDATION C 506610 CASH RECEIVED