2019-05-14T14:40:15-05:00 2018-06-30 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2017-07-01 560623936 UNIVERSITY OF MOUNT OLIVE INC UNIV 9196587825 634 HENDERSON STREET MOUNT OLIVE NC 28365 JEREMY SHREVE VP FOR FINANCE 9196587825 2019-05-14 1 YONG ZHANG P01249785 3362724551 108.171.133.177 2019-05-14 14:39:56 CD P 75C36B17B212965765F9B2A53872F996115D7FF8 75C36B17B212965765F9B2A53872F996115D7FF8 2017 2019-02-21 02:37:17Z UNIVERSITY OF MOUNT OLIVE DR DAVID L POOLE 634 HENDERSON STREET MOUNT OLIVE NC 28365 57304340 0 X WWW.UMO.EDU X 1951 NC CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE HIGHER EDUCATION INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 4,000 STUDENTS, AUXILIARY ENTERPRISES, OPERATION OF PLANT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING. 28 26 947 233 0 0 2902902 4152139 45110086 46394155 -4918997 979523 -17706 -17250 43076285 51508567 8706729 9075864 0 0 22233981 23048859 0 0 1180185 18749073 21097132 49689783 53221855 -6613498 -1713288 75110203 72368787 23967543 22643063 51142660 49725724 UNIVERSITY OF MOUNT OLIVE, INC. IS A CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. WE SERVE OUR STUDENTS, OUR FOUNDING CHURCH, AND OUR COMMUNITIES. 0 0 42511756 9075864 46394155 PROVIDING HIGHER EDUCATION TO STUDENTS UNDER 2 YEAR, 4 YEAR, AND GRADUATE DEGREE PROGRAMS. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 4,000 STUDENTS, AUXILIARY ENTERPRISES, INCLUDING OPERATION OF PLANT AND EQUIPMENT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING. 42511756 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 0 0 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 5545 0 1 947 0 0 0 0 0 0 1 1 0 0 0 0 X 28 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X JAY REBMAN 9196587825 634 HENDERSON STREET MOUNT OLIVE NC 283651263 X KIM QUINN TRUSTEE 1.00 X 0 0 0 CAROLYN F JERNIGAN TRUSTEE 1.00 X 0 0 0 BOBBY KENNETH JONES TRUSTEE 1.00 X 0 0 0 LLOYD W JONES JR TRUSTEE 1.00 X 0 0 0 EARL W WORLEY JR TRUSTEE 1.00 1.00 X 0 0 0 JEAN M AVERETTE TRUSTEE 1.00 X 0 0 0 DAVID L MCPHERSON TRUSTEE 1.00 X 0 0 0 CHARLES W PITTMAN III TRUSTEE 1.00 X 0 0 0 DONALD RIBEIRO TRUSTEE 1.00 X 0 0 0 HOWARD F SCOTT TRUSTEE 1.00 X 0 0 0 EUGENE M SUMNER TRUSTEE 1.00 X 0 0 0 DR DEWAYNE EAKES TRUSTEE 1.00 X 0 0 0 CHRISTINE J GREENE TRUSTEE 1.00 X 0 0 0 THE REVEREND H ADRIAN GRUBBS TRUSTEE 1.00 X 0 0 0 STANLEY C HARRELL TRUSTEE 1.00 X 0 0 0 C DARRELL HORNE TRUSTEE 1.00 1.00 X 0 0 0 GENE T JERNIGAN TRUSTEE 1.00 X 0 0 0 EMMETT JUDSON POPE III TRUSTEE 1.00 X 0 0 0 LAWRENCE ROUSE TRUSTEE 1.00 X 0 0 0 JERIYN J LEE TRUSTEE 1.00 X 0 0 0 ROBERT B KORNEGAY TRUSTEE 1.00 X 0 0 0 DONNIE E LASSITER TRUSTEE 1.00 X 0 0 0 MARY H DRUMMOND TRUSTEE 1.00 X 0 0 0 BENJAMIN D FORREST TRUSTEE 1.00 X 0 0 0 DR J BRYAN MARTIN TRUSTEE 1.00 X 0 0 0 ALBERT ELROD TRUSTEE 1.00 X 0 0 0 WESLEY E BEDDARD TRUSTEE 1.00 X 0 0 0 THE REVEREND DR JOHN E HILL JR TRUSTEE 1.00 X 0 0 0 THE REVEREND CHARLES L RENFROW TRUSTEE 1.00 X 0 0 0 DR PHILIP KERSTETTER PRESIDENT 50.00 1.00 X 214734 0 31483 JOHN KUNST VP FINANCE AND ADMINISTRAT 50.00 X 127318 0 18045 ELIZABETH CARRERE EXECUTIVE VICE PRESIDENT 50.00 X 116903 0 27213 KENNETH HINES VP ACADEMIC AFFAIRS 50.00 X 112574 0 15597 W DAN SULLIVAN VP STUDENT AFFAIRS 50.00 X 100980 0 15632 BARBARA R KORNEGAY VP FOR ENROLLMENT 50.00 X 98293 0 19137 JEFFREY EISEN VP ATHLETICS 50.00 X 97524 0 15467 TERESA HINES VP INSTITUTIONAL ADV 50.00 X 85137 0 14630 KATHY GARDNER ASSISTANT BOARD SECRETARY 50.00 X 48773 0 13912 KATHY BEST DEAN TILMAN SCHOOL OF BUSI 50.00 X 110477 0 25467 1112713 0 196583 8 0 1 0 CAPITAL EDUCATION LLC 200 SOUTH WACKER DRIVE SUITE 1600 CHICAGO IL 60606 ONLINE PROGRAM SERVICE PROVIDER 2992471 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 1995118 DANIELS & DANIELS CONSTRUCTION CO PO BOX 10337 GOLDSBORO NC 27532 CONSTRUCTION SERVICES 970484 VIABLE MEDIA SERVICES PO BOX 1214 NEW BERN NC 28563 MARKETING/ADVERTISING 493466 HIGH STANDARD CLEANING PO BOX 1024 GOLDSBORO NC 27533 CLEANING SERVICES 416785 14 467963 880927 2803249 120785 4152139 STUDENT TUITION AND FEES 611310 41228960 41228960 AUXILIARY ENTERPRISES 611310 4841299 4841299 OTHER PROGRAM INCOME 611310 323896 323896 46394155 913293 913293 5844753 5778523 66230 66230 66230 0 467963 17250 -17250 -17250 51508567 46394155 0 962273 9075864 9075864 1172761 536422 549072 87267 17407695 15011976 1793790 601929 4468403 3687272 561113 220018 111867 2050 109817 105214 105214 87320 87320 4662207 3860361 775243 26603 1273212 1218790 26219 28203 638401 437252 134485 66664 813135 37764 743567 31804 2231296 1287458 938462 5376 822423 713865 95412 13146 214350 125658 80727 7965 854929 854929 2094355 1549822 481702 62831 331351 331351 FOOD SERVICES 1414116 1414116 BAD DEBT 983677 983677 UTILITIES 899997 761975 125291 12731 3559282 2791111 752523 15648 53221855 42511756 9529914 1180185 1600 1700 10672429 5877247 1835683 1452132 3873139 3694459 440668 0 718910 673216 57355675 27630061 27107980 29725614 14165988 14388772 7587604 7809276 8706202 8746371 75110203 72368787 1952765 3099030 3846300 3382300 16853713 15378651 1314765 783082 23967543 22643063 X 10858315 11081257 12011966 9843578 28272379 28800889 51142660 49725724 75110203 72368787 X -1713288 542710 -246358 X X 0 1 X 1 1 1 X 8000 263974 X X X 0 25970262 741060 926787 1118159 26519950 23480968 388827 3077639 977172 25970262 23456312 416162 423202 814708 23480968 22936446 926435 536526 943095 23456312 20234523 980012 2329411 607500 22936446 0.03620 0.77770 0.18610 0 0 1331117 1331117 32798884 13876914 18921970 13299133 10787702 2511431 9926541 2965445 6961096 29725614 5931511 F NONEXCHANGE TRADED STOCK 1877765 F 7809276 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 7450618 CASH VALUE OF LIFE INSURANCE 376584 OTHER ASSETS 833696 INTEREST RATE SWAP 85473 8746371 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 615031 MISCELLANEOUS 168051 783082 X 42755108 542710 8803 -9322222 -8770709 51525817 -17250 -17250 51508567 44172044 8803 17250 26053 44145991 9075864 9075864 53221855 PART III, LINE 4: GEMSTONES AND ARTWORK ARE MAINTAINED FOR STUDY BY STUDENTS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS AND SUPPORT INSTRUCTION AND OTHER GENERAL INSTITUTIONAL NEEDS. PART X, LINE 2: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -9,075,864. CHANGE IN TRUST VALUE -371,398. INTEREST RATE SWAP 125,040. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES -17,250. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSE 17,250. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,075,864. 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 POLICY IS INCLUDED ON THE APPLICATION (PAPER AND WEB VERSION), THE CATALOG, AND ON THE WEBSITE - ADMISSIONS AND FUTURE STUDENTS LANDING PAGES AND EMPLOYMENT PAGE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY OF MOUNT OLIVE STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING FEDERAL WORK-STUDY, FEDERAL PELL GRANTS, NC NEED-BASED SHOLARSHIPS, AND NC GOLDEN LEAF FOUNDATION SCHOLARSHIPS. COMMUNITY CHURCH DINNERS 342513 342513 17250 HANDYMART GOLF TOURNAMENT 125450 125450 467963 467963 17250 17250 -17250 1 STUDENT GRANTS 453 406212 0 STUDENT FINANCIAL AID 1071 8669652 0 PART I, LINE 2: THE DIRECTOR OF FINANCIAL AID'S OFFICE MAINTAINS ALL DOCUMENTATION TO SUPPORT THAT THE AWARDED STUDENTS HAVE SATISFIED THE ELIGIBILITY REQUIREMENTS FOR THE VARIOUS GRANTS PROVIDED TO THE UNIVERSITY FOR STUDENTS. CRITERIA FOR AWARDING ANY GRANTS IS ALSO MAINTAINED BY THE DIRECTOR OF FINANCIAL AID'S OFFICE AND IS APPROVED BY THE VP OF ENROLLMENT. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR PHILIP KERSTETTER PRESIDENT 214734 0 0 0 0 0 11250 0 20233 0 246217 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY IS CONTRACTUALLY OBLIGATED TO LIVE IN HOUSING ADJACENT TO THE UNIVERSITY. SUCH HOUSING IS FOR THE CONVENIENCE OF THE UNIVERSITY; ACCORDINGLY THERE ARE MULTIPLE FUNCTIONS HELD AT THE PRESIDENT'S HOME ANNUALLY. HOUSING VALUE IS APPROXIMATELY $20,000 ANNUALLY AND IS NOT TAXABLE COMPENSATION TO THE PRESIDENT. X 2 8000 FAIR MARKET VALUE X 1639 COST X 4096 COST X 3 62779 FAIR MARKET VALUE X 10 6418 COST X FURNITURE,EQUIPMENT 8 25465 COST X MISCELLANEOUS SMALL GIFTS 15 11583 COST X GIFT CARDS 5 805 COST 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE CONTROLLER, VP FINANCE, AND THE BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES. THE FORM 990 IS LATER MADE AVAILABLE TO EACH MEMBER OF THE BOARD. THERE HAVE BEEN NO CHANGES TO THE REVIEW PROCESS SINCE THE PRECEDING YEAR. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY UNDERGOES CONSTANT REVIEW, ANY CONFLICTS ARE DISCLOSED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT, VP OF INSTITUTIONAL ADVANCEMENT, AND VP FINANCE AND ADMINISTRATION REQUIRE THE USE OF A COMPENSATION COMMITTEE, INDEPENDENT CONSULTANT, COMPENSATION SURVEY, OR BOARD/COMMITTEE APPROVAL. DECISION PROCESS AND OUTCOME ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN TRUST VALUE -371,398. CHANGE INTERST RATE SWAP 125,040. FORM 990, PART XII, LINE 2C THE REVIEW AND OVERSIGHT PROCESS HAS NOT CHANGED SINCE THE PRECEEDING YEAR. THE UNIVERSITY OF MOUNT OLIVE FOUNDATION 634 HENDERSON STREET MOUNT OLIVE NC 28365 200371529 SEE PART VII NC 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATION TO SEEK ALTERNATIVE SOURCES OF SUPPORT TO STRENGTHEN THE UNIVERSITY OF MOUNT OLIVE'S OUTREACH TO STUDENTS AND THE COMMUNITY.