2019-12-19T08:22:19-06:00 2019-05-31 420714325 RSM US LLP One South Wacker Dr Ste 800 Chicago IL 606063392 990 2018-06-01 350868181 Taylor University TAYL 7659984634 236 West Reade Avenue Upland IN 46989 Stephen Olson VP of Business and Finance 7659984634 2019-12-18 1 Rebekuh Eley P01247672 3126343400 66.98.98.134 2019-12-18 15:38:14 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0E3200EA8E12EF20DE9AC86D87358EA52CBD945C 2018 2020-04-17 16:48:07Z Paige Cunningham 236 West Reade Avenue Upland IN 46989 123682597 0 X www.Taylor.edu X 1846 IN Develop servant leaders to minister Christ's redemptive love and truth to a world in need. 26 25 2254 110 0 0 12586628 12287407 78775898 83561679 7503927 3815009 -2752 -1647 98863701 99662448 27769533 30982586 0 0 37694343 37976112 0 0 3686020 27534192 29955515 92998068 98914213 5865633 748235 256600545 255149841 40300304 40451359 216300241 214698482 X The mission of Taylor University is to develop servant leaders marked with a passion to minister Christ's redemptive love and truth to a world in need. 0 0 86555191 30982586 83561679 In order to advance our mission, Taylor University is committed to the following purposes: -Whole Person Focused: We involve students in learning experiences imbued with a vital Christian interpretation of truth and life which foster their intellectual, emotional, physical, vocational, social, and spiritual development. -Biblically Anchored and Liberal Arts Grounded: We offer a liberal arts, professional, and life-long education based upon the conviction all truth has its source in God and His Word. See Schedule O for continuation- -Christ Centered: Our Christian faith should permeate all learning, leading to a consistent life of worship, servant leadership, stewardship, and world outreach. -Faith and Learning Integrated: We strive to create specific experiences where the integrative focus of a Christian liberal arts education is clarified, personalized, and applied. -World Engaging: We contribute to the advancement of human knowledge and understanding and serve the evangelical Christian church and the larger (public) community for the glory of God. -Servant Leader Motivated: We foster a biblical model of relationships acknowledging both unity and diversity of the followers of Christ within a covenant community, which can be evidenced in a continuing lifestyle of service to and concern for others.At Taylor University we are actively seeking students who possess exceptional academic preparation and are ready to contribute to our robust learning community. This year's incoming freshman class had an average GPA of 3.8 and an ACT of 25. At Taylor University we will work hard to provide the people, the services, the tools, and the environment - in general, the resources - to help students successfully pursue their calling.These outstanding students help us get noticed. Taylor University, year after year, continues to receive recognition at the highest levels in the various college and university rankings. Taylor University received the ranking of #1 in the category Regional Colleges-Midwest from U.S. News & World Report and Taylor has remained in the top 3 in this ranking for the past 23 years. U.S. News & World Report also ranked Taylor #2 for committment to undergraduate teaching, #1 in both graduation and retention rates, and #3 in student excellence rank. Taylor was also highly ranked by The Princeton Review and Forbes. Open Doors ranks Taylor 4th among the nation's baccalaureate institutions for undergraduate participation rate in study abroad programs and ranks Taylor 5th among baccalaureates nationally for the actual number of undergraduate students participating, and 2nd nationally for short-term duration trips. Each of the publications measured criteria that cited the academic excellence of Taylor's faculty and students, (current retention 85%, graduation rate 77%), the percentage of students studying abroad, and the investment made by alumni.Focus on International Study510 students earned academic credit while participating in over 30 programs in over 34 countries. Students also earned credit in service programs in over 34 countries. Students also earned credit in service learning or cross cultural programs as short-term missionaries to U.S. cities. Taylor University also has a student exchange agreement with a university in South Korea that provides the opportunity for a limited number of students from each institution to spend one semester as a guest student on the other's campus. This program promotes cross-cultural understanding as well as offering a full semester of college credit. 86555191 1 1 0 0 0 1 1 1 0 1 1 0 0 0 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 1 3849 0 1 2254 1 0 1 EI 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IN X David Lloyd 7659984634 236 West Reade Avenue Upland IN 46989 Paul Lowell Haines President 60.00 6.00 X X 268740 0 100129 Paige Cunningham Chairman 6.00 0.00 X X 0 0 0 Chris L Goeglein Vice Chairman 6.00 2.00 X X 0 0 0 Angela Angelovska-Wilson Secretary 2.00 0.00 X X 0 0 0 Mark Davis Treasurer 2.00 0.00 X X 0 0 0 Kathy Stevens Trustee 2.00 0.00 X 0 0 0 Jonathan Beukelman Trustee 2.00 0.00 X 0 0 0 Carl Chapman Trustee 2.00 0.00 X 0 0 0 Minda Chow Trustee 2.00 0.00 X 0 0 0 Barbara Dickinson Trustee (serving through May 2018) 2.00 0.00 X 0 0 0 Tamara Shaya Hoffman Trustee 2.00 0.00 X 0 0 0 Erik Hotmire Trustee 2.00 0.00 X 0 0 0 Rhonda Jeter Trustee 2.00 0.00 X 0 0 0 Stephen L Johnson Trustee 2.00 0.00 X 0 0 0 Heather Larson Trustee 2.00 0.00 X 0 0 0 Susan McCabe Trustee 2.00 0.00 X 0 0 0 Gregory A Poland Trustee 2.00 0.00 X 0 0 0 Manuel Rosado Trustee 2.00 1.00 X 0 0 0 Douglas Rupp Trustee 2.00 1.00 X 0 0 0 Mark W Soderquist Trustee 2.00 0.00 X 0 0 0 Martha Songer Trustee 2.00 2.00 X 0 0 0 Mark D Taylor Trustee 2.00 0.00 X 0 0 0 Karen Thomas Trustee 2.00 0.00 X 0 0 0 P Eric Turner Trustee 2.00 0.00 X 0 0 0 Nicholas Wallace Trustee 2.00 2.00 X 0 0 0 Shani P Wilfred Trustee 2.00 0.00 X 0 0 0 Dan Wolgemuth Trustee 2.00 0.00 X 0 0 0 Stephen Olson VP of Business and Finance 40.00 10.00 X 108572 0 34464 Michael Hammond Provost 50.00 0.00 X 129255 0 36979 Ron Sutherland Special Assistant to the President 50.00 1.00 X 128488 0 36305 Jeff Moshier Provost 50.00 0.00 X 126702 0 29390 Coein Skip Trudeau VP Student Development 50.00 0.00 X 122273 0 34785 Rex Bennett VP of University Advancement 50.00 0.00 X 194766 0 23297 1078796 0 295349 9 0 1 0 Creative Dining Services One Royal Park Drive Suite 3 Zeeland MI 49644 Food Services 3405342 Michael Kinder & Sons Inc 5206 Decatur Road Fort Wayne IN 46806 Building Construction 555314 World of Travel 1430 Iowa Avenue W Saint Paul MN 55108 Travel Services 389240 Faegre Baker Daniels 300 N Meridian Street Suite 2700 Indianapolis IN 46204 Legal Services 382016 Matrix Integration LLC 9093 Technology Drive Suite 102 Fishers IN 46038 IT Equip., Maint. Services 337355 24 6251 439706 11841450 297939 12287407 Tuition and fees 900099 65785805 65785805 Dormitory fees 721310 8086045 8086045 Food services 900099 7589876 7589876 Athletics 900099 623323 623323 Bookstore commissions 451211 100000 100000 1376630 1376630 83561679 3701546 3701546 24117152 23499815 503874 617337 -503874 113463 113463 14813 6251 16460 -1647 -1647 99662448 83561679 0 3813362 30982586 30982586 554038 450600 67815 35623 60938 49561 7459 3918 26129058 21250783 3198245 1680030 2251337 1831014 275568 144755 7179871 5839394 878830 461647 1800870 1464649 220430 115791 20933 17025 2562 1346 632217 632217 101131 101131 445652 445652 1909359 1552883 233709 122767 395944 322022 48464 25458 629277 511791 77025 40461 749092 609237 91690 48165 1990566 1618929 243649 127988 1760749 1432018 215519 113212 1198729 974927 146727 77075 997275 997275 6283028 5109992 769054 403982 545970 444038 66828 35104 Food Service Costs 5852553 5852553 Program Expenses 1889924 1889924 Operating Supplies 798830 649689 97778 51363 3754286 2704301 852650 197335 98914213 86555191 8673002 3686020 2881478 6153027 5348227 4680553 1387048 932048 2333829 2158648 322665 213595 1012934 852480 186161820 81290036 107528604 104871784 120077418 118489125 7393847 8272628 8314495 8525953 256600545 255149841 4301578 4869156 691668 626100 24948990 23457203 10358068 11498900 40300304 40451359 X 111188013 107372333 34223474 17315358 70888754 90010791 216300241 214698482 256600545 255149841 X 748235 -2049832 -300162 X X 0 1 X 1 1 1 X 23900965 9006212 8224327 12586628 12287406 66005538 23900965 9006212 8224327 12586628 12287406 66005538 983906 65021632 2387304 2771859 2375135 3563300 3701546 14799144 80804682 389509309 0.80470 0.83110 X Part II, Line 1: Taylor University has excluded an estate gift received during fiscal year ending May 31, 2019 as a contribution receivable and contribution revenue in their audited financial statements. The Form 990 was prepared in accordance with the audited financial statements. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3 555182 273000 412401 1 1 X 2 92.07 0 0 1 0 X X X X 0 93677618 2675493 1200563 2401738 1806275 331955 93013706 87026925 4108391 6823195 2182339 1729595 368959 93677618 76730628 4961351 9503410 2086238 1713697 368529 87026925 81048187 1934347 -2949861 1891099 1057179 353767 76730628 79677038 2235146 2014884 1946998 566343 365540 81048187 0.13500 0.66100 0.20400 1 0 2679355 2679355 150521419 59220321 91301098 9613438 6664874 2948564 21245869 15404841 5841028 2101739 2101739 104871784 Taylor University Health Plan Trust 1397896 Fair Value of Interest Rate Swap Agreements 257114 Student Advance Payments and Deposits 787359 Federal Student Loan Advances 1880545 Deferred Compensation Liability 15571 Annuity and Trust Obligations 2515814 Due to Related Third Party 4644601 11498900 X Part II, Line 3: There was no current year activity related to the easement held by the University. The value of this property is carried on the balance sheet at its historical value. Part III, Line 4: The Edwin W. Brown Collection includes first English and American editions of books authored, edited, or with prefaces by C.S. Lewis, published essays and lectures of C.S. Lewis, two Lewis manuscripts, and books about C.S. Lewis, as well as first and reprint editions of George MacDonald and first editions of Charles Williams, Dorothy L. Sayers, and Owen Barfield. It also contains several manuscripts, letters, contracts, and photographs. The collection is more valuable in its entirety than the individual parts alone. In addition, it provides enhanced educational opportunities for students and faculty at Taylor University. The cultural, literary, and religious aims of the collection can be expanded through the educational curriculum offerings of lectures and seminars. In fact, Taylor University will have the potential to reach beyond the literary collection and bring C.S. Lewis scholars to the campus. Part V, Line 4: Endowments provide scholarship/grant opportunities for students, provide educational program opportunities, and provide institutional support for the university and its operations in support of its purpose and mission. Part X, Line 2: The Organization has received a determination letter from the Internal Revenue Service indicating it is a tax-exempt organization as provided in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes on income related to its exempt purpose. The accounting guidance for uncertainty in income taxes prescribes the recognition threshold a tax position is required to meet before being recognized in the financial statements. The guidance also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management believes there are no material uncertainties in income taxes. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Taylor University is in compliance with Rev. Proc. 75-50. Nondiscrimination policies are included in all materials available to the public. Schedule E, Part I, Line 6 Taylor University receives assistance and grants from the following federal programs: Perkins, SEOG, Pell, Federal Direct Loan Programs and work study. East Asia and the Pacific 0 0 Program Services Off-Campus Studies 13879 Europe (Including Iceland & Greenland) 1 2 Program Services Off-Campus Studies 346780 South America 0 0 Program Services Off-Campus Studies 233784 1 2 0 0 1 2 594443 0 594443 0 0 0 0 0 0 Golf Tournament 21064 6251 14813 772 3478 12210 21064 6251 14813 772 3478 12210 16460 -1647 1 Scholarships & Grants 1924 30982586 0 Part I, Line 2: Grants to individuals: The University provides financial assistance to students that submit a written application and meet the University's criteria for financial assistance. Applications are reviewed by the Financial Aid Department and/or scholarship committees, depending upon the particular terms of each scholarship. Awards are applied against the student's tuition due to the University. The University monitors each student to assure that he/she remains enrolled in school and continues to satisfy the criteria for his/her specific scholarship. If the student withdraws from the University, then any remaining funds are returned to the scholarship pool to be awarded to another student. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Paul Lowell Haines President 265814 0 0 0 2926 0 50828 0 49301 0 368869 0 0 0 Michael Hammond Provost 128943 0 0 0 312 0 16292 0 20687 0 166234 0 0 0 Ron Sutherland Special Assistant to the President 127456 0 0 0 1032 0 15900 0 20405 0 164793 0 0 0 Jeff Moshier Provost 124543 0 0 0 2159 0 15245 0 14145 0 156092 0 0 0 Coein Skip Trudeau VP Student Development 121318 0 0 0 955 0 14100 0 20685 0 157058 0 0 0 Rex Bennett VP of University Advancement 194766 0 0 0 0 0 22200 0 1097 0 218063 0 0 0 Part I, Line 1a The University President lives in a residence that is located on the campus of the University. The President is required to live in the residence as a condition of his employment. The residence is furnished for the convenience of the University and the President regularly uses it to conduct University business. In addition, University staff clean the public areas of the residence and maintain the residence and its grounds. The value of the benefits provided to President Haines was $28,800. The amount was non-taxable. A Town of Upland Indiana 356001216 NoneAvail 2010-07-12 4760000 Wolgemuth Hall Apartment 0 1 0 B Town of Upland Indiana 356001216 NoneAvail 2011-07-07 9050000 Euler Science Complex 0 1 0 C Town of Upland Indiana 356001216 915395EJ2 2012-06-27 11350219 Refund prior issue 0 1 0 D Town of Upland Indiana 356001216 NoneAvail 2012-12-11 6500000 Breuninger Hall 0 1 0 A 1535000 4760000 100000 42000 4618000 2011 0 0 1 1 B 2557246 9050000 50000 9000000 2011 0 0 1 1 C 4505000 11350219 951828 176271 10222120 2012 1 1 1 1 D 1825827 6500000 78794 6421206 2013 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 1 1 1 Regions Bank 20.000000000000 0 0 0 0 0 B 0 0 1 0 1 0 Regions Bank 20.000000000000 1 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 1 1 1 0 0 0 1 A 0 B 0 C 0 D 0 Date Rebate Computation Performed Issuer Name: Town of Upland, Indiana Date the Rebate Computation was Performed: 08/10/2015 Issuer Name: Town of Upland, Indiana Date the Rebate Computation was Performed: 06/27/2017 Issuer Name: Town of Upland, Indiana Date the Rebate Computation was Performed: 08/10/2015 Sherry Haines Wife of President 60938 Employee Compensation 0 X 14 141821 FMV X 1 100428 FMV X LifeInsPolicy 1 49394 FMV X Books for Library 1 4696 FMV X Statue 1 1200 FMV X Cross 1 400 FMV 0 1 0 Part I, Column (b): Is the number of contributions. Taylor University has excluded an estate gift received during fiscal year ending May 31, 2019 as a contribution receivable and contribution revenue in their audited financial statements. The Form 990 was prepared in accordance with the audited financial statements. Form 990, Part VI, Section B, line 11b The University's board of directors has delegated authority for the formal review of its Form 990 to the Audit Committee. The Audit Committee substantively reviewed the Form 990 prior to its filing. In addition, the University's independent CPA firm prepared the Form 990 and then reviewed it with the management team and with the audit committee. The University utilized this process to ensure that its Form 990 received substantive review by directors and professionals with specific knowledge of the University's activities and extensive financial, accounting, and tax expertise. A copy of the Form 990 is provided to the organization's governing body before it is filed with the IRS. Form 990, Part VI, Section B, line 12c The University has adopted a Conflict of Interest Policy that requires directors, officers and key employees to submit an annual conflict of interest disclosure. The annual disclosure requires directors, officers, and key employees to disclose, in writing, any known financial interest that the individual (together with family members) has in any business entity that transacts business with the University. In addition, directors, officers, and key employees are required to immediately disclose any possible conflict of interest that arises mid-year in relation to a proposed transaction. The Conflict of Interest Policy requires that any individual with a conflict be recused from the decision making process, that independent directors or committee members determine that the proposed transaction is in the best interests of the University, and the transaction must be approved by a vote of the independent directors or committee members without the participation of any interested individual. The annual conflict disclosure statements are submitted to, and reviewed by, the Audit Committee chairperson. In addition, the executive staff is responsible for monitoring any possible conflict transactions that arise and managing them to ensure that all transactions represent arms' length, fair market value terms for the benefit of the University. Form 990, Part VI, Section B, line 15 The University has adopted an Executive Compensation and Intermediate Sanctions Policy that ensures that all compensation arrangements with related parties are evaluated and entered at arms' length and that any compensation that is paid to a related party is reasonable and reflects fair market value. The Policy encourages the application of the rebuttable presumption standard of Code Section 4958 and the related Treasury Regulations by (a) excluding any interested party from the decision making process, (b) requiring disinterested board or committee members to obtain and rely upon comparability data when setting the proposed compensation terms, (c) requiring the approval of the transaction in advance by disinterested directors or committee members, and (d) requiring contemporaneous documentation (i.e. minutes) reflecting the decision and the process by which it was made. In the case of the President's compensation, the Executive Committee of the board of directors, composed entirely of independent outside directors, is responsible for ensuring that the process outlined above is applied. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request, either as printed or an electronic copy for the same period of disclosure as set forth in IRC section 6104(d). Form 990, Part XI, line 9: Change in Fair Value of Interest Rate Swap Agreements 22,459. Change in Fair Value of Split-Interest Agreements -322,621. Form 990, Part XII, Line 2b: Taylor University has excluded an estate gift received during fiscal year ending May 31, 2019 as a contribution receivable and contribution revenue in their audited financial statements. The Form 990 was prepared in accordance with the audited financial statements. Taylor Angel Fund LLC 236 West Read Ave Upland IN 46989 New business/research endeavors IN 0 0 Taylor University William Taylor Foundation 236 W Reade Avenue Upland IN 46989 356047122 Support Taylor University IN 501(c)(3) Line 12a, I Taylor University 1 Taylor University Broadcasting Inc 1025 W Rudisill Boulevard Fort Wayne IN 46807 351975367 Christian Broadcasting IN 501(c)(3) Line 12a, I Taylor University 1 1846 Enterprises Inc 236 W Reade Avenue Upland IN 46989 833307764 Support Taylor University DE 501(c)(3) Line 12a, I Taylor University 1 TUCC Inc 236 W Reade Avenue Upland IN 46989 841943979 Support Taylor University DE 501(c)(3) Line 12a, I Taylor University 1 Charitable Remainder Unitrusts (7) Charitable Trust IN Taylor University T 1 TUSO 15 Center Meeting Road Wilmington DE 19807 841953499 Trust DE Taylor University T 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 Taylor University Broadcasting Inc L 1188769 Actual William Taylor Foundation O 64000 Per Agreement Taylor University Broadcasting Inc N 16475 Per Agreement