2017-10-10T13:30:26-05:00 2017-05-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2016-06-01 350868181 Taylor University TAYL 7659984634 236 West Reade Avenue Upland IN 46989 Stephen Olson VP of Finance 7659984634 2017-10-10 1 Wayne Harder P00294296 3126343400 108.171.132.188 2017-10-10 13:30:16 CD P DC2E9104D1DF889C19E53CC962CFBFD70076CF54 37AB53F3E1FE5B259FEACB8EAA64376B229EE5AE 2016 2018-03-14 21:41:22Z Paul Lowell Haines 236 West Reade Avenue Upland IN 46989 112823845 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 24 2222 62 0 0 9006212 8224327 74725134 76093493 3130188 2414693 278 -4681 86861812 86727832 22779560 25057030 0 0 37871017 38297265 14580 0 2689197 26947753 26796603 87612910 90150898 -751098 -3423066 246606950 248738726 43855996 39267086 202750954 209471640 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 80784518 25057030 76093493 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 26. 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 #2 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 21 years. U.S. News & World Report also ranked Taylor #1 for Best Undergraduate Teaching, and #2 in Best Colleges in Indiana, which included all categories. Taylor was also highly ranked by The Princeton Review and Forbes. Open Doors ranks Taylor 6th among the nation's baccalaureate institutions for undergraduate participation rate in study abroad programs and ranks Taylor 8th among baccalaureates nationally for the actual number of undergraduate students participating, and 4th 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 90%, graduation rate 79%), the percentage of students studying abroad, and the investment made by alumni.Focus on International Study453 students earned academic credit while participating in over 30 programs in over 35 countries. Students also earned credit in service programs in over 35 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. 80784518 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 3847 0 1 2222 1 0 1 EI 0 0 0 1 1 0 0 0 0 X 26 24 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 140345 0 57372 Mark Taylor Chairman 6.00 X X 0 0 0 Chris L Goeglein Vice Chairman 6.00 X X 0 0 0 Kathy Stevens Secretary 2.00 X X 0 0 0 Nicholas Wallace Treasurer 2.00 X X 0 0 0 Angela Angelovska-Wilson Trustee 2.00 X 0 0 0 Jonathan Beukelman Trustee 2.00 X 0 0 0 James Blum Trustee 2.00 1.30 X 0 0 0 Minda Chow Trustee 2.00 X 0 0 0 Paige Cunningham Trustee 2.00 X 0 0 0 Mark Davis Trustee 2.00 X 0 0 0 Barbara Dickinson Trustee 2.00 X 0 0 0 Richard W Gygi Trustee 2.00 X 0 0 0 Rhonda Jeter-Twilley Trustee 2.00 X 0 0 0 Stephen L Johnson Trustee 2.00 X 0 0 0 Heather Larson Trustee 2.00 X 0 0 0 Susan McCabe Trustee 2.00 X 0 0 0 Gregory A Poland Trustee 2.00 X 0 0 0 Manuel Rosado Trustee 2.00 1.00 X 0 0 0 Douglas Rupp Trustee 2.00 X 0 0 0 Mark W Soderquist Trustee 2.00 X 0 0 0 Martha Songer Trustee 2.00 X 0 0 0 Karen Thomas Trustee 2.00 X 0 0 0 P Eric Turner Trustee 2.00 X 0 0 0 Shani P Wilfred Trustee 2.00 X 0 0 0 Dan Wolgemuth Trustee 2.00 X 0 0 0 Stephen Olson VP of Finance 40.00 10.00 X 102405 0 29238 Jeff Moshier Provost 50.00 X 149337 0 34867 Ron Sutherland VP of Business Administration 50.00 1.00 X 124993 0 32101 Coein Skip Trudeau VP of Student Development 50.00 X 112180 0 29850 Stephen Mortland VP of Enrollment Mgmt. & Marketing 50.00 X 101389 0 29270 Vance Maloney Faculty Member 50.00 X 101691 0 25634 Dr Eugene Habecker Former President/President Emeritus 10.00 X 149865 0 29161 982205 0 267493 8 1 1 0 Michael Kinder & Sons Inc 5206 Decatur Road Fort Wayne IN 46806 Building Construction 4580751 Creative Dining Services One Royal Park Drive Suite 3 Zeeland MI 49644 Food Services 2837046 World of Travel 1430 Iowa Avenue W Saint Paul MN 55108 Travel Services 564516 Sinewave Audio Inc 4518 S Madison Avenue Anderson IN 46013 AV Installation & Sound Tech Cnsltng. 337783 Footstep Ministries 2308 York Court Carrolton TX 75006 Travel Services 213027 30 26696 1000 554041 7642590 724478 8224327 Tuition and fees 900099 60430794 60430794 Dormitory fees 721310 7479243 7479243 Food services 900099 7050013 7050013 Athletics 900099 378336 378336 Bookstore commissions 451211 100048 100048 655059 655059 76093493 2375135 2375135 26120111 26080553 39558 39558 39558 10779 26696 15460 -4681 -4681 86727832 76093493 0 2410012 25057030 25057030 460743 388509 50202 22032 124609 105073 13577 5959 25866416 21811136 2818391 1236889 2221792 1873465 242085 106242 7865353 6632240 857005 376108 1758352 1482682 191589 84081 14377 12123 1567 687 386100 325568 42069 18463 91904 91904 480315 480315 1907137 1608140 207801 91196 188544 158984 20544 9016 592976 500011 64610 28355 719901 607037 78440 34424 1883264 1588010 205199 90055 1859986 1568382 202663 88941 1097251 925226 119556 52469 1231613 1231613 6193852 5222793 674879 296180 578649 487930 63049 27670 Food Service Costs 5443762 5443762 Academics&Student Life 1806643 1806643 Operating Supplies 809034 682195 88152 38687 1511295 1265966 163586 81743 90150898 80784518 6677183 2689197 3846350 2254112 6649555 3448901 986621 686483 2395133 2364542 338710 376142 807855 958797 179956865 70438839 112897551 109518026 103107112 114005638 6361418 6654003 9216645 8472082 246606950 248738726 5572451 5599525 525829 583556 28631100 26589241 1575000 0 7551616 6494764 43855996 39267086 X 109163611 112385749 29878379 30110218 63708964 66975673 202750954 209471640 246606950 248738726 X -3423066 9470115 673637 X 0 1 X 1 1 1 X 10508470 12245301 23900965 9006212 8224327 63885275 10508470 12245301 23900965 9006212 8224327 63885275 63885275 2346658 2254570 2387304 2771859 2375135 12135526 9005 11980 10055 9630 10779 51449 76072250 365000452 0.83980 0.84840 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Events - 2012 Amount: $ 9,005. 2013 Amount: $ 11,980. 2014 Amount: $ 10,055. 2015 Amount: $ 9,630. 2016 Amount: $ 10,779. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 6664 87891 1 1 X 2 92.07 0 0 1 0 479150 X X X X 0 76730628 3201809 9503410 2086238 322684 87026925 81048187 1934347 -2949861 1891099 1057179 353767 76730628 79677038 2235146 2014884 1946998 566343 365540 81048187 72523418 3054156 7932698 1786393 1711036 335805 79677038 65605004 2175831 9872873 1727373 3003025 399892 72523418 0.13000 0.66000 0.21000 1 0 2629355 2629355 147349237 51881485 95467752 9061158 5641726 3419432 20371123 12915628 7455495 545992 545992 109518026 Taylor University Health Plan Trust 1397896 Fair Value of Interest Rate Swap Agreements 602392 Student Advance Payments and Deposits 688645 Federal Student Loan Advances 1924290 Deferred Compensation Liability 15571 Annuity and Trust Obligations 1865970 6494764 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. The Organization files the appropriate tax forms in the U.S. federal jurisdiction and the state of Indiana. With few exceptions, the Organization is no longer subject to examination by the Internal Revenue Service or state of Indiana for years before 2013. 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 - Australia, Brunei, Burma, Cambodia, 0 0 Program Services Off-Campus Studies 40881 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 1 2 Program Services Off-Campus Studies 802539 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Program Services Off-Campus Studies 24000 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 0 0 Program Services Off-Campus Studies 309766 Sub-Saharan Africa - Angola, Benin, Botswana, Burkina, Faso, 0 0 Program Services Off-Campus Studies 13600 1 2 0 0 1 2 1190786 0 1190786 0 0 0 0 0 0 Golf Tournament 37475 26696 10779 15460 37475 26696 10779 15460 15460 -4681 1 Scholarships & Grants 1864 25057030 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 136598 0 0 0 3747 0 17077 0 40295 0 197717 0 0 0 Jeff Moshier Provost 144183 0 0 0 5154 0 18067 0 16800 0 184204 0 0 0 Ron Sutherland VP of Business Administration 119091 0 0 0 5902 0 15367 0 16734 0 157094 0 0 0 Dr Eugene Habecker Former President/President Emeritus 144783 0 0 0 5082 0 17809 0 11352 0 179026 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 $24,000, and former President Habecker was $10,658. 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 1095000 4760000 100000 42000 4618000 2011 0 0 1 1 B 1808428 9050000 50000 9000000 2011 0 0 1 1 C 3275219 11350219 951828 176271 10222120 2012 1 1 1 1 D 1213458 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 1 0 1 0 0 0 0 1 D 0 1 1 0 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: 09/01/2015 Sherry Haines Wife of President 49230 Employee Compensation 0 Ronald Korfmacher Brother-in-law of Paul Lowell Haines, President 75379 Employee Compensation 0 X 22 684228 FMV X Horse 1 35000 FMV X Pottery 12 5000 FMV X Electric Stove 1 250 FMV 27 0 1 0 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, composed of independent outside directors. 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 297,697. Change in Fair Value of Split-Interest Agreements 375,940. 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 Charitable Remainder Unitrusts (8) Charitable Trust IN Taylor University T 1 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 Taylor University Broadcasting Inc L 1323902 Actual William Taylor Foundation O 64000 Per Agreement