2017-04-17T18:11:15-05:00 2016-05-31 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2015-06-01 560554207 MARS HILL UNIVERSITY MARS 8286891111 PO BOX 370 MARS HILL NC 28754 RANDELL N TILLEY VP-FINANCE 8286891100 2017-04-13 1 Janice A Ratica P00358837 7043771678 2015 2021-01-29 14:40:06Z dan lunsford PO BOX 370 MARS HILL NC 28754 66222351 0 X www.mhu.edu X 1892 NC THE ORGANIZATION IS A PRIVATE LIBERAL ARTS COLLEGE OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK AND FINE ARTS. 35 35 1504 35 -9823 -9823 5727637 7927899 43944152 43749919 1698599 6909351 1342891 2026900 52713279 60614069 19949589 20583893 0 0 14639107 14535881 0 0 1325096 16508056 16967203 51096752 52086977 1616527 8527092 131517721 140536693 40548858 50843043 90968863 89693650 X Mars Hill University, an academic community rooted in the Christian faith, challenges and equips students to pursue intellectual, spiritual, and personal growth that is: grounded in a rigorous study of the Liberal Arts, connected with the world of work, and committed to character development, to service, and to responsible citizenship in the community, the region, and the world. 0 0 43589488 20583893 34210662 INSTRUCTION - PRIVATE LIBERAL ARTS University OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK, AND FINE ARTS. APPROXIMATELY 1,392 STUDENTS BENEFITED. 1021996 9511553 ACADEMIC SUPPORT - SERVICES THAT ARE AN INTEGRAL PART OF THE University'S PRIMARY MISSION OF EDUCATION. 683116 1008226 PUBLIC SERVICE - ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES TO GROUPS EXTERNAL TO THE University. 45294600 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 84 0 1 1504 1 0 0 0 0 0 0 0 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X Randell N Tilley 8286891100 100 ATHLETIC STREET MARS HILL NC 28754 Joe Bingham Member 1.00 X 0 0 0 Ronald O Brown Member 1.00 X 0 0 0 michael cranford Member 1.00 X 0 0 0 Troy L Day Member 1.00 X 0 0 0 j dixon free Member 1.00 X 0 0 0 eugene holdway Member 1.00 X 0 0 0 magay shepard Member 1.00 X 0 0 0 b jane winn Member 1.00 X 0 0 0 doug buchanan Member 1.00 X 0 0 0 david costner Member 1.00 X 0 0 0 Jean S Freeman Member 1.00 X 0 0 0 Harold H Bud Hughes Member 1.00 X 0 0 0 carole martin Member 1.00 X 0 0 0 ruth parham Member 1.00 X 0 0 0 brent townsend Member 1.00 X 0 0 0 charles trammell Member 1.00 X 0 0 0 jim wilson Member 1.00 X 0 0 0 John S Ayers Member 1.00 X 0 0 0 Will davis Member 1.00 X 0 0 0 Michael V Groce Member 1.00 X 0 0 0 Ac Honeycutt Jr Member 1.00 X 0 0 0 Arlo Jennings Member 1.00 X 0 0 0 Keith Leggett Member 1.00 X 0 0 0 Ronald F Martin Member 1.00 X 0 0 0 Robert L Merrill Member 1.00 X 0 0 0 Mark Cabaniss Member 1.00 X 0 0 0 Sally P Duyck Member 1.00 X 0 0 0 Linda Judge-McRae Member 1.00 X 0 0 0 Mike Kelly Member 1.00 X 0 0 0 Brenda G Nash Member 1.00 X 0 0 0 Karen M Smith Member 1.00 X 0 0 0 Cheryl B Pappas Chair 1.00 X X 0 0 0 W Wayne Higgins vice-chair 1.00 X X 0 0 0 Gwen Davis Treasurer 1.00 X X 0 0 0 Carolyn H Ferguson Secretary 1.00 X X 0 0 0 DAN G LUNSFORD PRESIDENT 60.00 X 177764 0 9231 RANDELL N TILLEY VP-FINANCE & facilities mgmt 50.00 X 109444 0 12295 JOHN W WELLS Executive VP for Academic affairs 45.00 X 128460 0 13264 HAROLD G CHRISTMAN VP-INSTITUTIONAL ADVANCEMEnt 40.00 X 112190 0 12125 527858 0 46915 4 0 1 0 WE Bolton Construction & Services PO Box 8609 Asheville NC 28804 construction services 3169399 Cooper Construction PO Box 806 Hendersonville NC 28793 Construction services 3155908 Brantley Construction 291 Plott Drive Canton NC 28716 Construction services 3147643 CHARTWELLS P O Box 91337 CHICAGO IL 60693 DINING HALL SERVICES 2502975 Legerton Architecture Inc 21 North Liberty St Asheville NC 28801 architect services 370109 12 1489664 6438235 579805 7927899 tuition and fees 900099 34210662 34210662 residence halls 900099 8519377 8519377 auxiliary revenue 900099 1008226 1008226 cafeteria income 900099 11654 11654 43749919 940622 -9823 950445 105804 0 105804 105804 105804 11567511 9500 5608282 0 5959229 9500 5968729 5968729 940574 0 940574 940574 OTHER INCOME 900099 980522 980522 980522 60614069 44730441 -9823 7965552 20583893 20583893 308735 93498 215237 10413757 8043576 1603844 766337 618686 476858 96468 45360 2225977 1696782 369304 159891 968726 736207 163145 69374 862341 187855 664335 10151 520005 258016 261989 720962 272856 285436 162670 768249 610962 106231 51056 880286 880286 1001244 767304 233940 552855 552855 auxiliary expenses 9087710 9087710 plant allocation 1144993 877447 267546 BAD DEBT EXPENSE 487153 487153 equip rental & maintena 256264 149282 106648 334 685141 572068 53150 59923 52086977 45294600 5467281 1325096 5825201 8129412 3079111 1000000 4194481 3277392 1082381 1242428 1819242 1693520 350922 316676 279157 280380 105720270 37060778 54729454 68659492 60081007 55855299 76765 82094 131517721 140536693 4318514 4763831 396010 406335 32005651 42067572 3828683 3605305 40548858 50843043 X 16032369 16603096 25401467 22389812 49535027 50700742 90968863 89693650 131517721 140536693 X 8527092 -8902011 -900294 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46146662 2057333 -2828513 1466869 2400000 41508613 43722136 1026612 2786886 1388972 46146662 40310301 3362624 1552528 1503317 43722136 36766823 701986 4326281 1484789 40310301 39853587 914922 -1948619 2053067 36766823 0.00000 0.94930 0.05070 0 0 1549148 1549148 70090101 29500941 40589160 2383177 1003080 1380097 15577935 6556757 9021178 16119909 16119909 68659492 REAL ESTATE INVESTMENT TRUSTS 1028899 F ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 1312694 F BENEFICIAL INTERESTS IN TRUSTS 13709128 F mutual funds 2937928 F ALTERNATIVE INVESTMENTS 35843825 F FIXED INCOME 48797 F Real estate held for investment 974028 F 55855299 ANNUITIES PAYABLE 703504 POSTRETIREMENT BENEFITS LIABILITIES 1813797 REFUNDABLE ADVANCES FROM DEPARTMENT OF EDUCATION 1088004 3605305 X 29995767 -8902011 -21716291 -30618302 60614069 0 60614069 31503084 0 31503084 20583893 20583893 52086977 Part V, Line 4: To support the institution in perpetuity for scholarships, lectureships, and various other operations and buildings on campus. Part X, Line 2: The University is exempt from income tax under Section 501(c)(3) of the Internal Revenue Code. Management has evaluated the effect of the guidance provided by GAAP on Accounting for Uncertainty in Income Taxes. Management believes that the University continues to satisfy the requirements of a tax-exempt organization at May 31, 2016. Management has evaluated all other tax positions that could have a significant effect on the financial statements and determined the University had no significant uncertain income tax positions at May 31, 2016. Part XI, Line 2d - Other Adjustments: TUITION DISCOUNTS REDUCING TUITION INCOME ON FINANCIALS -20,583,893. EARNINGS ON ASSETS HELD IN TRUST -1,132,398. Part XII, Line 4b - Other Adjustments: TUITION DISCOUNTS REDUCING TUITION INCOME ON FINANCIALS 20,583,893. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED IN all college generated documents including the college catalog. in addition, it is published in the local newspaper at least annually. Schedule E, Part I, Line 6 LINE 6A - THE UNIVERSITY RECEIVED STUDENT FINANCIAL AID GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 investments 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 tuition discounts/scholarships 1230 20583893 Part I, Line 2: The process for monitoring the use of tuition discount or grants/scholarship funds at Mars Hill College includes the use of a matrix that limits and determines the amount of academic scholarship awarded with a maximum of $7000. The Dean of Admissions and Financial Aid and the Director of Financial Aid meet monthly to review the current amount of tuition discount or grants/scholarships being awarded to ensure that the college stays within budget. Tuition discount, grant and scholarship reports are submitted to the President on a regular basis. the budget for these grants is approved by the Board of Trustees on an annual basis. The Dean of Admissions and Financial Aid and the Director of Financial Aid monitor all tuition discount financial aid awards prior to the award letter being mailed. Athletic grants are monitored by coaches and the Athletic Director with strict guidelines established by NCAA. The Athletic Director reports regularly to the President of the college the amount of tuition discount athletic grants awarded by each team per year. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DAN G LUNSFORD PRESIDENT 177764 0 0 0 0 0 9015 0 216 0 186995 0 0 0 Part I, Line 1a The President's spouse will occasionally travel with him on certain university functions. There is a substantial business purpose for such travel, and the expenses are documented and retained on file. X 1 9000 fair market value X 11 292805 FAIR MARKET VALUE X 1 278000 FAIR MARKET VALUE 0 0 1 0 Form 990, Part VI, Section B, line 11 the executive committee of the board and the full board of trustees are presented with a copy of the 990 for review prior to filing. Form 990, Part VI, Section B, line 12c Each new or returning trustee receives orientation which includes a discussion regarding the conflict of interest requirement. In the event that a potential conflict arises during the year, the board member will recuse himself/herself from all discussions and vote. Form 990, Part VI, Section B, line 15 the compensation committee of the board reviews and approves the compensation for the president and the top management officials. recommended changes require action and approval by the full board of trustees and discussions are documented in the meeting minutes. salaries are compared to other similar institutions and to salary surveys issued by the NC Independent College/Universities Annual Compensation Survey. Form 990, Part VI, Section C, line 19 THE ORGANIZATION'S GOVERNING documents, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS are available to the public upon request through the president's office. Form 990, Part XI, line 9: Change in Value of Split Interest Agreements 4,582. POSTRETIREMENT BENEFIT RELATED CHANGES 169,393. change in value of interest rate swap 58,129. earnings on assets held in trust -1,132,398. FORM 990, PART XIi, LINE 2C THERE IS AN AUDIT COMMITTEE COMPRISED OF TRUSTEES THAT HAS RESPONSIBILITY FOR THE RECOMMENDATION OF THE AUDITORS, OVERSIGHT OF THE AUDIT, AS WELL AS THE COMMUNICATION RESPONSIBILITY WITH THE AUDITORS. charitable remainder unitrust (8) trust NC mars hill college T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0