2018-05-10T06:20:04-05:00 2017-06-30 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2016-07-01 560623936 UNIVERSITY OF MOUNT OLIVE INC UNIV 9196587825 634 HENDERSON STREET MOUNT OLIVE NC 28365 JOHN KUNST VP FOR FINANCE 9196587825 2018-05-10 YONG ZHANG P01249785 3362724551 2016 2022-09-23 18:48:47Z UNIVERSITY OF MOUNT OLIVE DR PHILIP P KERSTETTER 634 HENDERSON STREET MOUNT OLIVE NC 28365 79489401 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. 29 27 933 264 0 0 4615140 2902902 43334227 45110086 557761 -4918997 -15285 -17706 48491843 43076285 8026492 8706729 0 0 21666528 22233981 0 0 1243268 17236360 18749073 46929380 49689783 1562463 -6613498 71401174 75110203 22216440 23967543 49184734 51142660 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 40260857 8706729 45110086 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. 40260857 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 4774 0 1 933 1 0 0 0 0 0 1 1 0 0 0 0 X 29 27 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 JOHN KUNST VP FINANCE AND ADMINISTRATION 50.00 X 121261 0 18152 KATHY GARDNER ASSISTANT BOARD SECRETARY 50.00 X 47282 0 13098 ELIZABETH CARRERE EXECUTIVE VICE PRESIDENT 50.00 X 113435 0 25920 KENNETH HINES VP ACADEMIC AFFAIRS 50.00 X 110367 0 14765 PHILIP KERSTETTER PRESIDENT 50.00 1.00 X 215089 0 30430 BARBARA R KORNEGAY VP FOR ENROLLMENT 50.00 X 96366 0 18290 W DAN SULLIVAN VP STUDENT AFFAIRS 50.00 X 98457 0 14775 JEFFREY EISEN VP ATHLETICS 50.00 X 96150 0 14060 TERESA HINES VP INSTITUTIONAL ADV 50.00 X 70029 0 13109 968436 0 162599 4 0 1 0 CAPITAL EDUCATION LLC 200 SOUTH WACKER DRIVE SUITE 1600 CHICAGO IL 60606 ONLINE PROGRAM SERVICE PROVIDER 2827529 ADVANTAGE SPORTS SURFACES INC PO BOX 1484 TAPPAHANNOCK VA 22560 CONSTRUCTION SERVICES 2034985 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 1847783 VIABLE MEDIA SERVICES PO BOX 1214 NEW BERN NC 28563 MARKETING/ADVERTISING 460469 HIGH STANDARD CLEANING PO BOX 1024 GOLDSBORO NC 27533 CLEANING SERVICES 440278 13 414658 586344 1901900 146710 2902902 STUDENT TUITION AND FEES 611310 40078708 40078708 AUXILIARY ENTERPRISES 611310 4637556 4637556 OTHER PROGRAM INCOME 611310 393822 393822 45110086 669373 669373 30807040 36395410 -5588370 -5588370 -5588370 0 414658 17706 -17706 -17706 43076285 45110086 0 -4936703 8706729 8706729 1127812 520728 525058 82026 16812570 14595027 1611592 605951 4293599 3552255 528083 213261 118470 118470 86111 86111 64015 64015 3959766 3350142 579540 30084 1328595 1271465 32760 24370 691425 477682 128220 85523 676816 643749 33067 2266947 1308102 902185 56660 635816 584567 45599 5650 191655 118792 64440 8423 897544 897544 1882890 1430996 395407 56487 282296 282296 FOOD SERVICES 1152981 1152981 UTILITIES 1053775 897655 140429 15691 MAINTENANCE & REPAIRS 808758 626215 167943 14600 BAD DEBT 300000 300000 2351213 1667521 672217 11475 49689783 40260857 8185658 1243268 1600 1600 12595544 10672429 2289366 1835683 3691010 3873139 446451 440668 665568 718910 52725931 25617951 23795536 27107980 12919835 14165988 6669160 7587604 8327104 8706202 71401174 75110203 2229487 1952765 3119400 3846300 15286086 16853713 1581467 1314765 22216440 23967543 X 10067446 10858315 11481302 12011966 27635986 28272379 49184734 51142660 71401174 75110203 X -6613498 7870594 700830 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 254324 X X X 0 23480968 388827 3077639 977172 25970262 23456312 416162 423202 814708 23480968 22936446 926435 536526 943095 23456312 20234523 980012 2329411 607500 22936446 18379085 557432 1781239 483233 20234523 0.03670 0.77840 0.18490 0 0 1331117 1331117 30874500 12895444 17979056 12651288 10145621 2505667 7869026 2576886 5292140 27107980 5852313 F NONEXCHANGE TRADED STOCK 1735291 F 7587604 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 7846043 CASH VALUE OF LIFE INSURANCE 209419 OTHER ASSETS 650740 8706202 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 685186 REFUNDABLE ADVANCES 440668 MISCELLANEOUS 145871 INTEREST RATE SWAP 43040 1314765 X 42968341 7870594 9655 -8005899 -125650 43093991 -17706 -17706 43076285 41010415 9655 17706 27361 40983054 8706729 8706729 49689783 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 -8,706,729. CHANGE IN TRUST VALUE 420,399. INTEREST RATE SWAP 280,431. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES -17,706. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSE 17,706. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 8,706,729. 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 365708 365708 17706 HANDYMART GOLF TOURNAMENT 48950 48950 414658 414658 17706 17706 -17706 1 STUDENT GRANTS 528 434263 0 STUDENT FINANCIAL AID 1021 8272466 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 X 0 0 0 0 0 0 0 0 0 PHILIP KERSTETTER PRESIDENT 215089 0 0 0 0 0 11250 0 19180 0 245519 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 515 COST X 4024 COST X 11 88218 FAIR MARKET VALUE X 2 45222 FAIR MARKET VALUE X 15 4873 COST X MISCELLANEOUS SMALL GIFTS 6 2760 COST X ATHLETIC EQUIPMENT 3 1320 COST 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 420,399. CHANGE INTERST RATE SWAP 280,431. 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.