2017-05-11T16:12:46-05:00 2016-06-30 363990892 Capin Crouse LLP 3010 Saturn Street Suite 205 Brea CA 92821 990 2015-07-01 951644035 Point Loma Nazarene University POIN 6198492200 3900 Lomaland Drive San Diego CA 92106 George R Latter Jr VP of Finance 6198492200 2017-05-11 1 David C Moja P00747006 7149619300 2015 2021-01-29 14:40:06Z Robert Brower 3900 Lomaland Drive San Diego CA 92106 124801154 0 X www.pointloma.edu X 1918 CA Non-profit Christian university. 22 20 2253 29 0 0 6045327 5330038 108763434 118775014 582968 694617 -453147 -566883 114938582 124232786 26877338 22780404 0 0 51333281 54377891 127746 155373 1539820 31072140 36848934 109410505 114162602 5528077 10070184 146706229 160600792 69558337 74833477 77147892 85767315 X Point Loma Nazarene University exists to provide higher education in a vital Christian community where minds are engaged and challenged, character is modeled and formed, and service becomes an expression of faith. We aspire to be a learning community where grace is foundational, truth is pursued, and holiness is a way of life. 0 0 58700154 22780404 96591475 Point Loma Nazarene University is a thriving Christian liberal arts institution in San Diego. Rooted in the Wesleyan tradition, PLNU aims to educate students not only for their own benefit but also for the benefit of our community and those who are in need. That's why we seek to prepare students to address the complex issues facing our world today with integrity and forward thinking. Armed with strong intellect, deep faith, and a commitment to causes larger than themselves, PLNU graduates enter the workforce prepared to influence our world for good. PLNU serves more than 3,500 students. In addition to offering more than 60 undergraduate areas of study, PLNU offers graduate programs in regional centers throughout Southern California. 27894303 18457714 Student Services enriches the student experience and resources like the Offices of Strengths and Vocation, the Wellness Center, Outdoor Leadership and Recreation, Spiritual Development, and Student Financial Services. 7063353 3725825 Academic Support bolsters PLNU students' academic experience through resources like the Tutorial Center, PLNU's Ryan Library, Information Technology Services, and Media and Technology. 93657810 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 1 1 0 0 1 0 0 0 0 1 0 0 0 1 0 0 2253 1 0 0 0 0 0 0 0 0 0 0 X 22 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Jim Bergherm 6198492429 3900 Lomaland Drive San Diego CA 92106 Robert Brower President 40.00 1.00 X X 293381 0 41055 Steven R Scott Chairman 1.00 1.00 X X 0 0 0 Jan Stone Secretary 1.00 X X 0 0 0 Craig K Furusho Vice Chair 1.00 X X 0 0 0 William Thomas Battin Trustee 1.00 X 0 0 0 Ken Baruth Trustee 1.00 X 0 0 0 Ira F Brown Trustee 1.00 X 0 0 0 Larry Fry Trustee 1.00 X 0 0 0 Jose Hernandez Trustee 1.00 X 0 0 0 Mary Leland Trustee 1.00 X 0 0 0 Nancy Martine-Alonzo Trustee 1.00 X 0 0 0 Leanne Mudge Trustee 1.00 X 0 0 0 John Nells Trustee 1.00 X 0 0 0 Douglas Pierce Trustee 1.00 X 0 0 0 Rick Power Trustee 1.00 X 0 0 0 Donald R Schengel Trustee 1.00 X 0 0 0 Orlando R Serrano Trustee 1.00 X 0 0 0 Rob Songer Trustee 1.00 X 0 0 0 Daniel W Spaite Trustee 1.00 X 0 0 0 Mendell Thompson Trustee 1.00 1.00 X 0 0 0 Carol Van Buskirk Trustee 1.00 X 0 0 0 Esther Frejo Trustee - Part Year 1.00 X 0 0 0 J Fred Huff Trustee - Part Year 1.00 X 0 0 0 Franklin McHodgkins Trustee - Part Year 1.00 X 0 0 0 Gary W Morris Trustee - Part Year 1.00 X 0 0 0 Daryl C Nicholson Trustee - Part Year 1.00 1.00 X 0 0 0 Steven G Redmond Trustee - Part Year 1.00 X 0 0 0 Georgina Rico Trustee - Part Year 1.00 X 0 0 0 Gary Smee Trustee - Part Year 1.00 1.00 X 0 0 0 Jim Swanson Trustee - Part Year 1.00 X 0 0 0 Craig Van Hulzen Trustee - Part Year 1.00 1.00 X 0 0 0 George R Latter Jr VP of Finance 40.00 1.00 X 181823 0 32295 Kerry Fulcher Provost 40.00 X 179642 0 39733 Allison Reaser Chief Economist 40.00 X 240208 0 24715 Catherine Smith VP of Student Dev. 40.00 X 145267 0 13052 Corey Fling Chief Information Officer 40.00 X 128125 0 32769 Joe Watkins Executive Vice President 40.00 1.00 X 130521 0 81492 Mary Paul VP of Spiritual Development 40.00 X 102305 0 85617 Maria Zack Department Chair 40.00 X 140576 0 12188 1541848 0 362916 9 0 1 0 Sodexo Dept 880328 Los Angeles CA 90088 Food Services 5276217 Bycor General Contractors Inc 6490 Marindustry Dr Suite A San Diego CA 921212563 Construction/Remodel 1953570 Meteorix LLC 260 Franklin St 11th FL Boston MA 02110 IT Consultant 1005713 FusionsStorm 124 Grove St Ste 311 Franklin MA 02038 IT Goods/Services 741258 Workday Inc 6230 Stoneridge Mall Rd Pleasanton CA 94588 ERP Software/Services 528394 17 90560 290000 4949478 118002 5330038 Tuition and fees 611710 96591475 96591475 Auxiliary revenue 611710 18457714 18457714 Other program revenue 611710 3725825 3725825 118775014 696102 696102 1485 -1485 -1485 -1485 0 90560 566883 -566883 -566883 124232786 118775014 0 127734 22780404 22780404 801394 114505 599359 87530 41420 41420 42678742 35614770 6131852 932120 2302411 1193489 1114531 -5609 4915228 1886758 3029933 -1463 3638696 1662077 1976619 156996 66655 90341 86050 -2728 88778 53385 53385 155373 155373 1422 1422 2047233 1892248 135230 19755 3883951 2779622 1011697 92632 1790121 1157855 610397 21869 6519921 3911363 2560183 48375 2592174 2195577 334236 62361 341278 249395 67834 24049 1949179 1949179 5179159 5014975 123333 40851 595722 378207 215371 2144 All Other Expenses 9517004 8386345 1093523 37136 Equipment 2135339 2373729 -261087 22697 114162602 93657810 18964972 1539820 25208425 8761024 6811134 30312334 3070355 4046966 4177344 4056387 2972977 3278674 1062019 1997081 158983275 58243734 96012553 100739541 6823580 6847269 567842 561516 146706229 160600792 14723282 9539245 2765725 4421518 40543638 48095655 3519403 2941606 8006289 9835453 69558337 74833477 X 73679771 80664308 3419451 5054337 48670 48670 77147892 85767315 146706229 160600792 X 10070184 -93911 -1356850 X X 0 1 X 1 1 1 X 3630948 4464029 5722627 6045327 5330038 25192969 3630948 4464029 5722627 6045327 5330038 25192969 171667 25021302 424756 440545 400117 592173 696102 2553693 27746662 528633948 0.90180 X Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 50000 1 3385 1 53385 0 51961162 2095955 -805414 365291 1255513 51630899 47361554 5208162 -211742 396812 51961162 39529525 4463810 4707748 556126 449625 386549 47308783 35623245 2833451 2369288 529670 669295 97494 39529525 34915208 831884 457013 410518 170342 35623245 0.50330 0.49670 0 1 1 6868553 6868553 130674639 45421200 85253439 15628111 9986637 5641474 5811972 2835897 2976075 100739541 Fair value of swap agreement liability 8101799 Payable to related exempt organization 1733654 9835453 X Part V, Line 4: Provide scholarship funds and support the general operations of the Foundation and University. Part X, Line 2: The combined financial statement effects of a tax position taken or expected to be taken are recognized in the combined financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the combined statements of activities. As of June 30, 2016 and 2015, the University had no uncertain tax positions that qualify for recognition or disclosure in the combined financial statements. The University files information tax returns in the U.S. and California. The University is subject to income tax examinations for the current year and certain prior years based on the applicable laws and regulations. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Published annually in the San Diego Tribune. Schedule E, Part I, Line 6 The University receives funding from the federal government, and as a result, is required to comply with various regulations related to those funding programs. Schedule E, line 5d: Some scholarships awarded from the endowment fund are specified for certain groups, such as Hispanics, Laotians, and Hawaiians. X X X X X X X 1 Westfall Group PO Box 341 Suwanee GA 30024 Fundraising and event management 0 90560 155373 -64813 90560 155373 -64813 AL AR CA FL HI IL IN IA KY MD MI MN MS NH NJ NY NC ND OK PA RI SC TN UT VA WV MA President's Donor Retreat 90560 90560 315740 251143 90560 90560 315740 251143 566883 -566883 1 Student Scholarships/Awards 2124 22780404 Part I, Line 2: The University awards grants, scholarships & student loans based on various, predefined criteria. Students must qualify for the assistance. Student enrollment and continuing eligibility are verified on an ongoing basis. The University also grants funds to its supporting organization, Point Loma Nazarene University Foundation. The use of these funds is monitored through direct oversight of the Foundation. The finance department of the University maintains the books and records of the Foundation. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Robert Brower President 288997 0 600 0 3784 0 21200 0 20147 0 334728 0 0 0 George R Latter Jr VP of Finance 181025 0 600 0 198 0 14706 0 17850 0 214379 0 0 0 Kerry Fulcher Provost 178973 0 600 0 69 0 14423 0 25541 0 219606 0 0 0 Allison Reaser Chief Economist 207666 0 600 0 31942 0 16782 0 8041 0 265031 0 0 0 Catherine Smith VP of Student Dev. 144538 0 600 0 129 0 11755 0 1558 0 158580 0 0 0 Corey Fling Chief Information Officer 126658 0 600 0 867 0 10847 0 22174 0 161146 0 0 0 Joe Watkins Executive Vice President 128335 0 600 0 1586 0 23807 0 57997 0 212325 0 0 0 Mary Paul VP of Spiritual Development 101636 0 600 0 69 0 21528 0 64245 0 188078 0 0 0 Maria Zack Department Chair 139907 0 600 0 69 0 11340 0 1076 0 152992 0 0 0 Part I, Line 1a The University allows members of the Board of Trustees to bring their spouse to one of the two annual meetings each year. The University will pay the spouse's travel expenses and if any aggregate amount is in excess of $600 per year, it is reported on Form 1099. The University provides housing for Chief Economist, Allison Reaser. This housing is paid for directly by the University and is treated as taxable wages included in reportable compensation. The University reimburses Dr. Brower for the cost of house cleaning or landscaping expenses when his residence is used for University business. A California Municipal Finance Authority 201563466 2014-05-01 49884975 Construction loan - Refinance of the 12/20/11 Bonds 0 0 0 A 49884975 278717 19596258 30010000 2044 1 0 1 1 A 0 0 1 1 0 0 0 1 A 0 0 1 0 1 1 Bank of America 19.333333300000 0 0 0 0 1 A 1 Robert Brower Officer of the University Housing Equity Agreement X 365400 365400 0 1 1 George Latter Jr Officer of the University Housing Equity Agreement X 58000 58000 0 1 1 Kerry Fulcher Key employee of the University Housing Equity Agreement X 325000 325000 0 1 1 DRC Partners Trustees Craig Van Hulzen and Daryl Nicholson are partners in DRC Partners. Business loan X 3500000 3307987 0 1 1 4056387 78630 Grants and Tuition Remission Tuition Remission Alisha Brower Family of Robert Brower, President 28335 W2 Employee 0 DRC Partners Trustees Craig Van Hulzen and Daryl Nicholson are partners in DRC Partners. 349595 Rental income for space leased to PLNU 0 Schedule L Part II, Explanation of loan to DRC Partners During the tax year ended 6/30/2015, the University made a $3,500,000 loan to DRC Partners. There was no similar loan in prior years. Legal counsel was consulted during the formation of the loan. X 9 60912 Fair Market Value X Musical Instruments 3 55250 Appraisal and Fair M X Recreational Experiences/Services (dining, recreation, golf, etc) 2 840 Cost and Fair Market X Academic Regalia 2 600 Fair Market Value X Hotel Stay 1 400 Cost 0 1 0 Form 990, Part VI, Section A, line 1 The Administrative Cabinet of Point Loma Nazarene University is made up of the following people: - Robert Brower, University President - George Latter, Vice President for Finance and Administration - Joe Watkins, Vice President for External Relations - Mary Paul, Vice President for Spiritual Development - Caye Smith, Vice President for Student Development - Kerry Fulcher, Provost The only individual who also serves as a member of the governing body is Robert Brower. The scope of the Administrative Cabinet's authority is as follows: - sign contracts, leases, purchase agreements, and financing agreements in the name of Point Loma Nazarene University - signing documents that are routinely required in the normal course of business, including but not limited to tax returns, trust returns, annual reports to state and federal agencies, and certificates regarding resolutions - open, maintain, and close bank accounts and investment accounts in the name of Point Loma Nazarene University. Form 990, Part VI, Section A, line 2 Daryl Nicholson and Craig VanHulzen - business relationship. Form 990, Part VI, Section B, line 11 The Form 990 is prepared by an independent CPA firm, reviewed in detail by the finance team, and distributed to the board of trustees prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c Conflict of interest statements are completed annually by all members of the governing body. The statements are reviewed by the Chairman of the Audit Committee of the Board of Trustees. The finance team is also monitoring all transactions for potential conflicts of interest. Form 990, Part VI, Section B, line 15 Each year at the spring board meeting of the University's Board of Trustees, the Executive Committee of the board receives a report in executive session from the Associate Vice President for Human Resources which compares the salaries of the University President and senior administrators (the Administrative Cabinet) to salaries for similar positions using four different salary surveys. Following discussion of this information, the Executive Committee takes action to set the salaries of the President and Administrative Cabinet for the following year, subject to approval of the full board, and records this action in the minutes of its meeting. Form 990, Part VI, Section C, line 19 The organizing documents, conflict of interest policy, and the financial statements are available upon request. Form 990, Part XI, line 9: Adjustment to swap agreenent liability -1,356,850. Form 990, Part XII, line 2c: The University Board of Trustees has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year. Point Loma Nazarene University Foundation 3900 Lomaland Drive San Diego CA 92106 953948691 Support Point Loma Nazarene University CA 501(C)(3) Line 11c - Type I N/A 0 Charitable Remainder Trust (1) CA 0 Charitable Remainder Unitrust (5) CA 0 Charitable Remainder Annuity Trust (1) CA 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 Point Loma Nazarene University Foundation B Point Loma Nazarene University Foundation N Point Loma Nazarene University Foundation O