2019-04-15T19:31:04-05:00 2018-05-31 260793942 MARTIN SMITH & COMPANY CPAs PA 1212 HAYWOOD ROAD BLDG 100 GREENVILLE SC 296152200 990 2017-06-01 571088101 BJU INC BJUI 8642425100 1700 WADE HAMPTON BLVD GREENVILLE SC 296141000 Steven J Dickinson CFO 8642425100 2019-04-15 1 DAVID A SMITH P00045703 8642321040 96.36.126.134 2019-04-15 15:43:28 ED P 5A454FB9AD1EF59224986C661DFA93DFC2A6873F 514B8E6449109DDF4A1521933266A4074BE73CD2 2017 2019-02-21 02:37:17Z Steven J Dickinson 1700 WADE HAMPTON BLVD GREENVILLE SC 296141000 80508250 0 X www.bju.edu X 1999 SC BJU delivers a Christian education through its elementary school and university. 25 24 2425 0 470542 -518758 194758346 6194427 14209726 59766943 61631 -204171 3366189 12140429 212395892 77897628 863498 10693889 0 0 10644621 46028685 0 0 1097977 8120265 32516342 19628384 89238916 192767508 -11341288 209303775 205319649 6158040 11630751 203145735 193688898 See Schedule O. 0 0 51227387 10693889 BJU, Inc. served an average of 2,850 students seeking associate, bachelor, master and doctorate degrees in 75 programs of study. 3577697 4004584 BJU, Inc. served an average of 665 students in its elementary school (Infant - Grade 6). 54805084 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 2973 0 2425 1 1 1 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 0 0 SC X X Steven J Dickinson 8642425100 1700 Wade Hampton Blvd Greenville SC 29614 Dr Dawn Akam Trustee 0.00 X 0 0 0 Dr Hantz Bernard Vice Chairman/Trustee 0.00 X X 0 0 0 Dr Gary Cobb Trustee 0.00 X 0 0 0 Mr Ed Cone Trustee 0.00 X 0 0 0 Dr Sam Dawson Trustee 0.00 X 0 0 0 Dr Mike Harding Trustee 0.00 X 0 0 0 Dr Joe Helm Trustee 0.00 X 0 0 0 Dr Marty Herron Trustee 0.00 X 0 0 0 Dr David Innes Secretary/Trustee 0.00 X X 0 0 0 Mr Larry Jackson Trustee 0.00 X 0 0 0 Mr Paul Kalmbach Trustee 0.00 X 0 0 0 Dr John Lewis Chairman/Trustee 0.00 X X 0 0 0 Mr Shawn Kook Trustee 0.00 X 0 0 0 Mr Paul Matthews Trustee 0.00 X 0 0 0 Dr Steve Pettit President 40.00 X X 162979 0 0 Mr Jerry Morgan Trustee 0.00 X 0 0 0 Dr Brian Priest Trustee 0.00 X 0 0 0 Dr Jean Saito Trustee 0.00 X 0 0 0 Dr Jerry Sivnksty Trustee 0.00 X 0 0 0 Mr Tim Stanley Trustee 0.00 X 0 0 0 Dr Bud Steadman Trustee 0.00 X 0 0 0 Mr Gary Thompson Trustee 0.00 X 0 0 0 Dr Keith Wiebe Trustee 0.00 X 0 0 0 Dr Bob Wilson Trustee 0.00 X 0 0 0 Dr Bruce Woodworth Trustee 0.00 X 0 0 0 Mr Marshall E Franklin Exec VP for Operations 40.00 X 92722 0 0 Dr Gary M Weier Exec VP for Acad Affairs 40.00 X 97723 0 0 Dr Sam Horn VP for Ministerial Advancement 40.00 X 96982 0 0 Mr John Matthews VP for Advancement/Alumni Affairs 40.00 X 87368 0 0 Mr Kennie M Still Chief Financial Officer 40.00 X 67068 0 0 Mr Steve Hensley Chief Facilities Management Officer 40.00 X 65274 0 0 Mr Kevin L Taylor Chief Human Resources Officer 40.00 X 64819 0 0 Mr Marvin Reem Chief Information Officer 40.00 X 65069 0 0 800004 0 0 1 0 1 0 Aramark Services Inc 1101 Market Street Philadelphia PA 19107 Food service 5703814 GCA Services Group Inc PO Box 534198 Atlanta GA 303534198 Facilities services 543091 Jackson Marketing Group Inc 2 Task Industrial Ct Greenville SC 296075709 Marketing 506815 Triangle Construction Company Inc PO Box 6266 Greenville SC 296066266 Construction 441342 Waldrop Inc PO Box 8300 Spartanburg SC 293058300 HVAC services 258362 21 59774 6134653 164644 6194427 Tuition and Fees - University 611310 40042379 40042379 Room and Board 611710 11724437 11724437 Tuition & Fees--elementary school 611110 4004584 4004584 Other revenue 611710 3761823 3761823 Food Service 611710 233720 233720 59766943 569584 569584 5554341 5554341 268917 279657 0 0 268917 279657 548574 283810 264764 1611143 1516775 868123 94368 -868123 -773755 -773755 11780 59774 24021 -12241 -12241 823347 201703 621644 415866 205778 Management Fees 900099 5428111 5428111 5428111 77897628 65120975 470542 6111684 10693889 10693889 984314 304267 603433 76614 30167161 21073721 8817217 276223 335066 227351 104365 3350 12484964 8320530 4019825 144609 2057180 1452089 582163 22928 120000 120000 63030 52 61636 1342 69625 69625 70868 70868 2959042 1242153 1526873 190016 933760 66668 852206 14886 5718610 3032284 2545551 140775 321495 267298 45970 8227 5316179 544382 4765953 5844 1680725 912015 723789 44921 164076 19100 144976 18639 18639 6315189 6315189 791498 57 791441 Food services 5131388 5131388 Repairs & maint 1010912 652330 354930 3652 Miscellaneous expenses 941027 632118 303406 5503 Licenses, dues & subscr 734902 226245 492802 15855 155377 7147 4998 143232 89238916 54805084 33335855 1097977 4009532 3713953 1829558 2014871 2342744 1908664 295779 300243 856552 922938 164701939 7985665 161808503 156716274 14950836 15584280 23000000 23000000 210271 1158426 209303775 205319649 4201055 5169263 1074371 995022 591440 712995 4500000 291174 253471 6158040 11630751 X 187410281 175666280 1687040 4113210 14048414 13909408 203145735 193688898 209303775 205319649 X -11341288 760808 1123643 X X 0 1 X 1 1 1 X 6994388 6206207 13200595 6994388 6206207 13200595 1997632 11202963 3182288 11989936 15172224 0 0 28372819 73976669 0.39480 X 14048414 79043 1019990 1019990 218049 13909408 14048414 75890 75890 14048414 0.00000 1.00000 0.00000 0 0 10240000 10240000 134208714 4232736 129975978 13207512 2806654 10400858 7045713 946275 6099438 156716274 Student drawing accounts 253471 253471 X 67930679 760808 2633240 3394048 64536631 70868 13290129 13360997 77897628 77387516 1509597 1509597 75877919 70868 13290129 13360997 89238916 Part X, Line 2: BJU is exempt from Federal and State income taxes to the extent provided by Section 501(c)(3) of the Internal Revenue Code ("IRC"). The University is classified as an organization that is not a private foundation under Section 509(a) of the IRC and, as such, gifts to the University qualify for deduction as charitable contributions. The University follows the provisions of the Accounting for Uncertainty in Income Taxes topic of FASB ASC, which addresses the accounting uncertainty in income taxes recognized in an organization's financial statements and prescribes a threshold of more-likely-than-not for recognition and derecognition of tax positions taken or expected to be taken in a tax return. It also provides related guidance on measurement classification, interest and penalties, and disclosure. BJU has determined that it has no uncertain tax positions requiring accrual and disclosure. Part XI, Line 2d - Other Adjustments: Cost of goods sold netted against revenue in the 990 406,299. Loss on sale of fixed assets included in expense in the financial statements 868,123. Cost of goods sold netted against revenue in the 990 201,703. Expenses netted against revenue in the 990 9,450. Transfer of assets from BJU CAMPUS SPACES included in revenue in fin stms 1,123,644. Fundraising expenses netted against revenue in the 990 24,021. Part XI, Line 4b - Other Adjustments: Scholarships netted against revenue in the financial statements 10,901,981. Revenue netted against expenses in the financial statements 2,253,465. Expenses netted against revenue in the financial statements 134,683. Part XII, Line 2d - Other Adjustments: Cost of goods sold netted against revenue in the 990 406,299. Loss on sale of fixed assets included in expense in the financial statements 868,123. Cost of goods sold netted against revenue in the 990 201,703. Expenses netted against revenue in the 990 9,450. Rounding 1. Fundraising expenses netted against revenue in the 990 24,021. Part XII, Line 4b - Other Adjustments: Scholarships netted against revenue in the financial statements 10,901,981. Revenue netted against expenses in the financial statements 2,253,465. Expenses netted against revenue in the financial statements 134,683. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 See Schedule O. Schedule E, Part I, Line 6 The organization participates in state and federal aid programs whereby students receive financial aid in the form of tuition grants and scholarships. Golf Tournament 67030 55250 11780 1800 4476 12204 Bridge Event 4524 4524 4493 1048 71554 59774 11780 1800 4493 5524 12204 24021 -12241 1 Student scholarships - Institutional aid 2032 10693889 0 Form 990, Schedule I, Part IV Bob Jones University awards financial aid grants to students in accordance with federal and state regulations and its internal policies. Compliance with these processes is periodically examined. 1 X 0 0 0 0 0 0 0 0 0 Dr Steve Pettit President 154561 0 0 0 8418 0 0 0 0 0 162979 0 0 0 10 Students 74035 Tuition waivers Education Judy Hensley Family member of Mr. Steve Hensley, Chief Facilities Management Officer 32960 Compensation and benefits 0 Jared Stanley Family member of Mr. Tim Stanley, Trustee 24882 Compensation and benefits 0 Beth Horn Family member of Dr. Sam Horn, VP for Ministerial Advancement 26563 Compensation and benefits 0 Erin Matthews Family member of Mr. John Matthews, VP for Advancement/Alumni Affairs 15074 Compensation and benefits 0 Rebecca Weier Family member of Dr. Gary M Weier, Exec VP for Academic Affairs 51976 Compensation and benefits 0 Jerry Morgan Morgan Motor Company is owned by Mr. Jerry Morgan , Trustee 234900 Purchase of vehicles 0 Larry Jackson Jackson Marketing Group Inc is owned by Larry Jackson, Trustee 506815 Marketing 0 X 2 3148 FMV X 5 57986 AVG OF DAILY QUOTE X MUSICAL INSTRUMENTS 2 93750 FMV X MATERIALS/SUPPLIES 3 9760 FMV 0 1 0 Part I, Column (b): The "Number of contributions or items contributed" represent the number of contributors, not the number of individual items received. 990, PAGE 1, PART I, LINE 8, Contributions - Explanation of "The Gift" Through February 28, 2017, Bob Jones University, Inc. of Greenville, SC ("BJUI"), a South Carolina not-for-profit corporation held all the operating divisions of Bob Jones University, including higher education, middle and high school programs, and elementary school programs. Effective March 1, 2017, BJUI conveyed a portion of its assets, including the operation of the higher education programs, the elementary school programs, and certain related assets (together "Gifted Assets") to BJU, Inc. ("BJU or "the University"), a South Carolina not-for-profit corporation. The gifted assets included cash, investments, property and equipment, intellectual property, student accounts receivable, student and faculty notes receivable, inventory, and prepaid expenses. Certain cash and investment balances had been maintained by BJUI as temporarily restricted and permanently restricted in accordance with donor-imposed stipulations and those cash and investment balances were conveyed to BJU, subject to the same restrictions. BJUI also transferred certain liabilities, principally obligations with respect to the terms of employment of program-related employees, and deferred revenues of its higher education programs. BJU recorded the Gifted Assets at fair market value. The fair market value of property, equipment, and intellectual property was established based upon an appraisal performed by a qualified professional services firm. The fair market value of investments was established based upon quotations obtained from national securities exchanges. The fair market value of the remaining assets received was established at the carrying values in the records of BJUI at the date of the gift because such carrying values approximated fair value due to their short maturities 990, PAGE 2, PART III, LINE 1, Description of Organization Mission BJU, Inc. exists to grow Christlike character in its students that is scripturally disciplined, others-serving, God-loving, Christ-proclaiming and focused above. This mission is carried out through its pre-school, elementary school, and higher education divisions. The general nature and object of the corporation shall be to conduct an institution of learning for the general education of youth in the essentials of culture and the arts and sciences, giving special emphasis to the Christian religion and the ethics revealed in the Holy Scriptures; combating all atheistic, agnostic, pagan and so-called scientific adulterations of the Gospel; unqualifiedly affirming and teaching the inspiration of the Bible (both the Old and the New Testaments); the creation of man by the direct act of God; the incarnation and virgin birth of our Lord and Savior, Jesus Christ; His identification as the Son of God; His vicarious atonement for the sins of mankind by the shedding of His blood on the cross; the resurrection of His body from the tomb; His power to save men from sin; the new birth through the regeneration by the Holy Spirit; and the gift of eternal life by the grace of God. Form 990, Part VI, Section B, line 11b The organization's Chief Financial Officer and the Finance & Audit Committee of the Board of Trustees reviewed the Form 990 prior to filing. The filed Form 990, excluding Schedule B, was provided electronically to the entire Board of Trustees concurrent with its filing. Form 990, Part VI, Section B, line 12c The responses to conflict of interest questionnaires are reviewed and maintained to identify potential conflicts. Form 990, Part VI, Section B, line 15a The Board, having availed itself of comparable information from other institutions of similar size and organization, believes that the compensation for the CEO is well below market and has not yet implemented a formal review process relative to the other officers. Form 990, Part VI, Section C, line 19 During the tax year, the organization's governing documents, conflict of interest policy and financial statements were made available to the public upon request and through third-party websites. Form 990, Part XI, line 9: Transfer of assets from BJU CAMPUS SPACES (EIN 26-2317923) 1,123,644. Rounding -1. Form 990, Part XII, Line 2c: The process of selecting the independent auditor and the audit oversight has not changed since the previous year SCHEDULE E, PART I, LINE 3, Description of nondescrimination policy Students enroll at BJU from all US states and approximately 40 foreign countries. Therefore BJU does not use newspaper or broadcast media to solicit students with the exception of an occasional newspaper ad for a local college fair where the racially nondiscriminatory policy is included. The following nondiscriminatory statement is included in undergraduate and graduate catalogs, in print advertising and on the application pages of BJU's official website, www.bju.edu: "Students of any race, color, age, sex, national or ethnic origin, protected disability or veteran status are admitted to all the rights, privileges, and activities generally accorded or made available to students at Bob Jones University. The University does not discriminate on the basis of race, color, age, sex, national origin, protected disability or veteran status in its administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other school-administered programs." The following nondiscriminatory statement is included in the student handbook, in print advertising, and on the admissions pages of Bob Jones Academy's official website, www.bobjonesacademy.net: "Students of any race, color, age, sex, national origin, or protected disability are admitted to all the rights, privileges, and activities generally accorded or made available to students at Bob Jones Academy. The Academy does not discriminate on the basis of race, color, age, sex, national origin, or protected disability in its administration of its educational policies, admissions policies, and athletic and other school-administered programs."