2018-05-15T12:07:30-05:00 2017-06-30 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2016-07-01 550357072 ALDERSON BROADDUS UNIVERSITY INC ALDE 3044571700 101 COLLEGE HILL DRIVE BOX 2004 PHILIPPI WV 264166004 DENNIS STARK INTERIM CFO 3044571700 2018-05-15 1 LAURIE HANSON P00851848 6053391999 2018-05-15 2016 2022-09-23 18:48:47Z DENNIS STARK 101 COLLEGE HILL DRIVE BOX 2004 PHILIPPI WV 264166004 37154510 0 X WWW.AB.EDU X 1861 WV PROVIDE HIGHER LEARNING OPPORTUNITIES TO STUDENTS. 17 16 984 18 0 0 2208574 3072674 35034770 33330388 112126 154565 309321 299838 37664791 36857465 13950353 13378165 0 0 11943754 11664243 0 0 371425 14782629 14436462 40676736 39478870 -3011945 -2621405 67423818 60248377 48576975 47263225 18846843 12985152 X ALDERSON-BROADDUS UNIVERSITY IS AN INDEPENDENT INSTITUTION OF HIGHER LEARNING, COMMITTED TO SERVING THE REGION AS AN ACADEMIC, CULTURAL, AND RELIGIOUS RESOURCE, WITH PROGRAMS BASED ON A STRONG LIBERAL ARTS FOUNDATION. THE UNIVERSITY IS ROOTED IN HISTORIC AND CONTINUING RELATIONSHIPS WITH THE WEST VIRGINIA BAPTIST CONVENTION AND THE AMERICAN BAPTIST CHURCHES USA. 0 0 31033417 13378165 33484405 PROVIDED HIGHER EDUCATION COLLEGE LEVEL LEARNING OPPORTUNITIES TO APPROXIMATELY 1,052 STUDENTS. 31033417 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 30 0 984 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 X DENNIS STARK 3044571700 101 COLLEGE HILL DRIVE BOX 2004 PHILIPPI WV 26416 X DR RONALD L BURBICK CHAIR 1.00 1.00 X X 0 0 0 MRS REBECCA A HOOMAN VICE CHAIR 1.00 1.00 X X 0 0 0 MR WORTH M HELMS TREASURER 1.00 1.00 X X 0 0 0 MR HARRY G SHAFFER III ESQ SECRETARY 1.00 1.00 X X 0 0 0 DR JAMES TIM BARRY TRUSTEE/INTERIM PRESIDENT 40.00 1.00 X X 0 0 0 MR MATTHEW G BALLARD TRUSTEE 1.00 0.00 X 0 0 0 DR JEAN A CUNNINGHAM TRUSTEE 1.00 0.00 X 0 0 0 MR JOHN W EBERT TRUSTEE 1.00 0.00 X 0 0 0 MRS JANE E HARKINS ESQ TRUSTEE 1.00 0.00 X 0 0 0 MR THOMAS S HECKMAN TRUSTEE 1.00 0.00 X 0 0 0 MRS VALERIE A WOODRUFF TRUSTEE 1.00 0.00 X 0 0 0 REV DR MARILYN TURNER TRUSTEE 1.00 0.00 X 0 0 0 MRS LISA Q LANG TRUSTEE 1.00 0.00 X 0 0 0 MR JAMES J MORRIS TRUSTEE 1.00 1.00 X 0 0 0 MR ROBERT OSBORNE TRUSTEE 1.00 0.00 X 0 0 0 DR KAREN K RAINEY TRUSTEE 1.00 0.00 X 0 0 0 MR ARNOLD D SCOTT ESQ TRUSTEE 1.00 1.00 X 0 0 0 MR DENNIS STARK INTERIM CFO 40.00 1.00 X 0 0 0 DR ROBERT S BUCKINGHAM DEAN OF OPTOMETRY 40.00 0.00 X 174650 0 17145 THOMAS MOORE DEAN OF PHYSICIAN ASSISTANT PROGRAM 40.00 0.00 X 108866 0 6527 DR RICHARD CREEHAN FORMER PRESIDENT UNTIL OCT. 2015 40.00 1.00 X 174000 0 0 457516 0 23672 3 1 1 0 SODEXO OPERATIONS LLC 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 FOOD SERVICE MANAGEMENT 1161716 REGISTRY FOR COLLEGE & UNIVERSITY PRESID 3 CENTENNIAL DR PEABODY MA 01960 CONTRACT LEASED EMPLOYEES 362473 INDEPENDENT COLLEGE ENTERPRISE 2300 MACCORKLE AVE SE CHARLESTON WV 25303 COMPUTER SYSTEM 150893 3 489434 2583240 1728123 3072674 TUITION AND FEES 611600 26587512 26587512 AUXILIARY SERVICES 541800 6692758 6692758 50118 50118 33330388 102477 102477 2384 2384 143437 0 143437 143437 143437 52089 1 52088 52088 52088 451061 297044 154017 154017 36857465 33484405 0 300386 13378165 13378165 9471122 8120236 1109303 241583 331134 272916 45096 13122 1229928 1006425 193579 29924 632059 534336 80257 17466 92580 81180 11400 18902 18902 115555 115555 1636353 218834 1414129 3390 20666 813 19834 19 892995 551451 287788 53756 137467 103299 34168 1575524 1554838 20452 234 1047000 770490 267077 9433 2950811 2950811 1952567 1516553 436014 356180 127119 229061 FOOD SERVICE 2159743 2159743 BAD DEBT 659019 340711 318308 LIBRARY BOOKS/PERIODICA 66272 66272 754828 230036 522294 2498 39478870 31033417 8074028 371425 665792 837942 5583171 4735313 715571 579910 2184155 194640 181648 259354 115926 78425333 31730954 49388913 46694379 3222754 1445427 2159602 6986795 1720903 67423818 60248377 6780797 6376151 383864 1231860 36785000 34310319 0 1480000 926085 1556959 54429 3701229 2253507 48576975 47263225 X -11543479 -14465542 10432085 8591906 19958237 18858788 18846843 12985152 67423818 60248377 X -2621405 316043 -2668 -3553661 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17715229 161210 46912 17923351 17609597 44531 61099 17715229 17365930 163793 79874 17609597 16900604 297543 167783 17365930 16315331 491833 93439 16900604 0.96030 0.03970 0 0 489205 489205 57840356 23833739 34006617 9284965 7126618 2158347 10810807 770597 10040210 46694379 RESTRICTED CASH 943442 C POOLED INVESTMENTS -2032733 C OTHER INVESTMENTS 43816 C BENEFICIAL INTEREST IN PERPETUAL TR 4268229 C 3222754 REFUNDABLE ADVANCES 2253505 OBLIGATIONS UNDER SPLIT INTEREST 2 2253507 X PART X, LINE 2: ALDERSON BROADDUS UNIVERSITY, INC. IS PUBLICLY A SUPPORTED ORGANIZATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE ENTITY IS REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ENTITY IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSES. THE ENTITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE ENTITY WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL GENERAL PUBLICITY REGARDING THE COLLEGE INCLUDES A STATEMENT OF OUR RACIALLY NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 ASSISTANCE CONSISTS OF STUDENT FINANCIAL ASSISTANCE. 1 SCHOLARSHIPS 974 13212889 PART I, LINE 2: AWARDS TO STUDENTS ARE MONITORED THROUGH OUR FINANCIAL AID OFFICE. X 0 0 1 0 0 0 0 0 0 0 0 DR ROBERT S BUCKINGHAM DEAN OF OPTOMETRY 174650 0 0 0 0 0 12006 0 6137 0 192793 0 0 0 DR RICHARD CREEHAN FORMER PRESIDENT UNTIL OCT. 2015 0 0 0 0 174000 0 0 0 0 0 174000 0 0 0 PART I, LINE 1A ALDERSON BROADDUS UNIVERSITY PROVIDES HOUSING FOR THE LEASED EMPLOYEES FROM THE REGISTRY. THESE EMPLOYEES ARE INTERIM PRESIDENT J. TIM BARRY AND CFO DENNIS E. STARK. PART I, LINE 1B THIS WAS APPROVED BY THE BOARD OF TRUSTEES. PART I, LINE 3 ABU HAS A MANAGEMENT AGREEMENT WITH THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS FOR THE SERVICES OF DR. JAMES TIM BARRY, INTERIM PRESIDENT AND MR. DENNIS STARK, INTERIM CFO. SALARY IS DETERMINED UTILIZING COMPARABILITY DATA AND INDEPENDENT COMPENSATION CONSULTANTS, AND IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF ABU. PART I, LINE 4A DR. RICHARD CREEHAN, FORMER PRESIDENT, RECEIVED $174,000 IN SEVERANCE IN 2016. A THE PHILIPPI MUNICIPAL BUILDING COM 556000232 718211AA3 2012-11-30 36785000 CAMPUS CONSTRUCTION PROJECTS AND REFUNDING OF BONDS ISSUED 6/30/2010 0 0 0 A 1145000 36785000 2947281 3537182 1447037 24489211 5075625 2013 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 A 1 ARNOLD SCOTT BOARD MEMBER X 980000 980000 0 1 1 ROBERT OSBORNE BOARD MEMBER X 200000 200000 0 1 1 DR RONALD L BURBICK BOARD MEMBER X 300000 300000 0 1 1 1480000 X BOND FORFEITURE 4 1720000 NET ASSET VALUE X SUPPLIES 0 8123 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 ALDERSON BROADDUS UNIVERSITY, INC. (ABU) HAS A BOARD OF TRUSTEES AND GOVERNORS. THE GOVERNORS DO NOT HAVE VOTING RIGHTS. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE BOARD. THE MEMBERS OF THE COMMITTEE ARE THE OFFICERS. THE EXECUTIVE COMMITTEE ACTS WHEN THE BOARD IS NOT IN SESSION. FORM 990, PART VI, SECTION A, LINE 3 THE BOARD SIGNED A CONTRACT IN DECEMBER OF 2015 FOR THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS, 3 CENTENNIAL DR., PEABODY, MA 01960, A PLACEMENT FIRM FOR INTERIM EXECUTIVES, TO PROVIDE A PRESIDENT AND CHIEF FINANCIAL OFFICER FOR A DEFINED PERIOD OF TIME. THIS PERIOD OF TIME IS UNTIL 6/30/20 FOR THE PRESIDENT AND 6/30/19 FOR THE CHIEF FINANCIAL OFFICER. ANNUAL COMPENSATION FROM THE REGISTRY FOR PRESIDENT J. T. BARRY IS $170,000 AND FOR CFO DENNIS STARK IS $100,000. FORM 990, PART VI, SECTION A, LINE 8B OFFICIAL MINUTES OF COMMITTEE MEETINGS ARE NOT DOCUMENTED. HOWEVER, ACTIVITY FROM THE COMMITTEE MEETINGS IS REPORTED AND DOCUMENTED AS PART OF THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC VERSION OF THE FORM 990 WILL BE PROVIDED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND ALSO TO MEMBERS OF THE BUSINESS AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO IT BEING FILED. THE FULL BOARD OF TRUSTEES WILL RECEIVES A COPY FOR THEIR REVIEW PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY THAT COVERS THE BOARD OF TRUSTEES, OFFICERS, AND OTHER KEY EMPLOYEES. THE BOARD CHAIR REVIEWS POTENTIAL CONFLICTS, AND THE FULL BOARD DETERMINES WHETHER AN ACTUAL CONFLICT OF INTEREST EXISTS. IF A CONFLICT IS DEEMED TO EXIST, THE PERSON WITH THE CONFLICT IS RECUSED FROM VOTING AND DISCUSSION ON THE MATTER, AND MAY BE ASKED TO EXCUSE HIM/HERSELF FROM THE BOARD IF THE CONFLICT IS SIGNIFICANT. BOARD MEMBERS ARE REQUIRED TO COMPLETE A WRITTEN CONFLICT OF INTEREST DISCLOSURE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND CFO IS PROVIDED THROUGH A MANAGEMENT AGREEMENT WITH THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS. COMPARABILITY DATA AND INDEPENDENT COMPENSATION CONSULTANTS ARE USED TO DETERMINE A FAIR SALARY FOR THESE POSITIONS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DETERMINING THE APPROPRIATE COMPENSATION LEVEL FOR THESE POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST FROM MEMBERS OF THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -258,340. CHANGE IN BENEFICIAL INTEREST TRUSTS 272,545. PRIOR YEAR RELATED PARTY NET ASSET INCLUDED ON 990 -4,173,491. BOND RELATED FORFEITURES 605,625. ALDERSON-BROADDUS ENDOWMENT CORP 101 COLLEGE HILL DRIVE PHILIPPI WV 26416 550652324 SUPPORT ALDERSON-BROADDUS UNIVERSITY WV 510(C)(3) LINE 12B, II ALDERSON BROADDUS UNIVERSITY INC 1 CHARITABLE TRUSTS (3) WV N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0