2017-05-09T14:31:01-05:00 2016-06-30 BKD LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2015-07-01 440562048 Park University % BRIAN BODE PARK 8165846248 8700 NW River Park Drive Parkville MO 64152 BRIAN BODE CFO 8165846248 2017-05-15 true Michael J Engle P00482834 8162216300 2015 2021-01-29 14:40:06Z PRESIDENT GREG GUNDERSON 8700 NW River Park Drive Parkville MO 64152 96729294 false X WWW.PARK.EDU X 1879 MO PARK UNIVERSITY WILL PROVIDE LEADERSHIP IN QUALITY, INNOVATIVE EDUCATION FOR A DIVERSITY OF LEARNERS WHO WILL EXCEL IN THEIR PROFESSIONAL & PERSONAL SERVICE TO THE GLOBAL COMMUNITY 21 21 2299 400 0 0 2010716 1372351 74198306 73624920 3090261 2859772 1861701 1656550 81160984 79513593 5543410 4859550 0 0 48074229 43959757 0 0 583567 26939239 22968180 80556878 71787487 604106 7726106 143668101 158954880 33842397 41617650 109825704 117337230 PARK UNIVERSITY PROVIDES ACCESS TO A QUALITY HIGHER EDUCATION EXPERIENCE THAT PREPARES A DIVERSE COMMUNITY OF LEARNERS TO THINK CRITICALLY, COMMUNICATE EFFECTIVELY, DEMONSTRATE A GLOBAL PERSPECTIVE AND ENGAGE IN LIFELONG LEARNING AND SERVICE TO OTHERS. false false 48998603 4859550 71304962 PROVIDING HIGHER EDUCATION TO STUDENTS: THESE ARE EXPENSES CONNECTED WITH INSTRUCTION, ACADEMIC SUPPORT, AND STUDENT SERVICES, AND ALL OTHER CAMPUS RELATED FUNCTIONS. CURRENTLY PARK UNIVERSITY SERVES APPROXIMATELY 16,660 STUDENTS ANNUALLY IN THE PARKVILLE, MISSOURI AREA, IN THE KANSAS CITY AREA, AT REMOTE LOCATION CAMPUSES, AND ONLINE. 3837807 2319958 AUXILIARY: THESE ARE EXPENSES CONNECTED WITH STUDENT HOUSING, FOOD SERVICE, AND A FITNESS CENTER. 52836410 true true false true false false false true false true true false false true true false true false true false true false false false true false false false true true true false true false false false false false false false false false false false false true false false false false true 139 0 true 2299 true false false false false false true true false false false false X 21 21 false false true false false false false true true false true true true true true true true true true true false X BRIAN BODE 8165846248 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 R LYNN BONDURANT TRUSTEE 2.0 0.0 X 0 0 0 KRISTOPHER S FLINT TRUSTEE 2.0 0.0 X 0 0 0 C ANN MESLE TRUSTEE 2.0 0.0 X 0 0 0 ROSEMARY FRY PLAKAS TRUSTEE 2.0 0.0 X 0 0 0 JEANETTE PRENGER TRUSTEE 2.0 0.0 X 0 0 0 DAVID WARM TRUSTEE 2.0 0.0 X 0 0 0 KATHLEEN J DODD TRUSTEE 2.0 0.0 X 0 0 0 THOMAS H HOLCOM TRUSTEE, VICE CHAIR 2.0 0.0 X 0 0 0 LINDY A JOHNSON TRUSTEE 2.0 0.0 X 0 0 0 JEFF MCKINNEY TRUSTEE 2.0 0.0 X 0 0 0 DANNY K SAKATA TRUSTEE 2.0 0.0 X 0 0 0 JUDITH M SIMONITSCH TRUSTEE 2.0 0.0 X 0 0 0 RICHARD E THODE TRUSTEE 2.0 0.0 X 0 0 0 ERIC WADE TRUSTEE 2.0 0.0 X 0 0 0 JULIE WILSON TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL COLLINS TRUSTEE 2.0 0.0 X 0 0 0 MARK FOSTER TRUSTEE 2.0 0.0 X 0 0 0 DENNIS FISHER TRUSTEE 2.0 0.0 X 0 0 0 SCOTT MCRUER TRUSTEE, TREASURER 2.0 0.0 X X 0 0 0 JAMES CORNELIUS TRUSTEE 2.0 0.0 X 0 0 0 N LYNN CRAGHEAD TRUSTEE 2.0 0.0 X 0 0 0 RICHARD KELLER TRUSTEE 2.0 0.0 X 0 0 0 DORLA D WATKINS CHIEF INFORMATION OFFICER 50.0 0.0 X 203997 0 17394 LAURIE D MCCORMACK VP UNIVERSITY RELATIONS & DEV 50.0 0.0 X 185918 0 22507 COURTNEY G HAWKINSON VP GEN COUNSEL 50.0 0.0 X 190528 0 11427 DAVID WHITAKER CHIEF INFORMATION OFFICER 50.0 0.0 X 0 0 0 DOUGLAS FIORE PROVOST & VP ACADEMIC AFFAIRS 50.0 0.0 X 0 0 0 GREG GUNDERSON PRESIDENT 50.0 0.0 X 0 0 0 MATTHEW VAN HOESEN FORMER CFO 50.0 0.0 X 165737 0 17918 ROGER DUSING Chief Human Resources Officer 50.0 0.0 X 98133 0 5918 SHANE SMEED VP & Chief Operating Officer 50.0 0.0 X 64325 0 0 JEFF EHRLICH INTERIM PRESIDENT 50.0 0.0 X 78561 0 9947 ROGER W HERSHEY ATTORNEY 50.0 0.0 X 212261 0 34400 BRAD A KLEINDL DEAN SCH OF BUSINESS 50.0 0.0 X 137203 0 32600 JAMES M NOE PROFESSOR 50.0 0.0 X 127964 0 17109 STANISLAV IOUDENITCH ASSOC PROFESSOR 50.0 0.0 X 116890 0 30913 LAURIE N DIPADOVA-STOCKS PROFESSOR 50.0 0.0 X 116694 0 30416 DAVID M FOWLER FORMER PRESIDENT 0.0 0.0 X 140000 0 0 1838211 0 230549 19 true true false MBS DIRECT LLC COLUMBIA MO 65205 TEXTBOOKS 1236292 NCS PEARSON ECOLLEGE CENTENNIAL CO 80122 DISTANT LEARNING 1104814 WIL-PAV INC INDEPENDENCE MO 64050 ASPHAULT 906363 SODEXO INC GAITHERSBURG MD 20878 FOOD SERVICE 856041 EBERLE CONSTRUCTION LOGISTICS FREEMAN MO 64746 CONSTRUCTION 676333 55 131839 83394 1157118 5039 1372351 Tuition and Fees 611600 71304962 71304962 Auxiliary Enterprises 611710 2319958 2319958 73624920 2850383 2850383 0 336126 336126 1154724 627865 526859 0 526859 526859 16471898 14198 16476309 398 -4411 13800 9389 9389 28206 131839 111129 -82923 -82923 0 0 Other Sources 900099 587551 587551 Recovery and Indirect Costs 541900 45178 45178 Commissions 900099 243759 243759 876488 79513593 73624920 4516322 0 4859550 4859550 0 0 1139594 1139594 0 35155465 28117448 6684984 353033 1032304 718531 298907 14866 4022915 1851897 2142197 28821 2609479 2056149 534203 19127 0 74722 74722 111290 300 110990 0 0 286035 286035 3137660 2004453 1072619 60588 2022420 1235424 729673 57323 2984079 1276641 1674046 33392 0 0 3995532 3254682 740850 766933 610347 143920 12666 0 293459 183052 106656 3751 0 0 4165596 3790692 374904 806833 266061 540772 Education & General 3747593 2183587 1564006 Strategic Planning 54742 37094 17648 Bad Debt Expenses 327606 327606 Licenses, Dues, & Memberships 193680 62896 130784 71787487 52836410 18367510 583567 13492901 19805664 197852 137592 551887 238067 3520618 4839023 0 0 0 0 0 0 7120 38547 817843 966879 127512344 50389153 68276947 77123191 36402648 34252669 3503473 3365354 0 0 0 0 16896812 18187894 143668101 158954880 8291133 9056359 0 0 4842059 6103827 17835000 17125000 0 0 0 0 1882371 8360000 0 0 991834 972464 33842397 41617650 X 62842806 68987571 11556855 11295959 35426043 37053700 109825704 117337230 143668101 158954880 X 7726106 -214580 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 814 0 814 71786673 71787487 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 1999 588 2395 814 5796 250000 250000 250000 250000 1000000 1500000 1927 559 2338 814 5638 0 50855 X false 33683297 336575 -1307282 830064 31882526 34633313 249599 -519628 679987 33683297 29184119 652047 5309058 511911 34633313 25009861 2918199 1695905 439846 29184119 20956274 4851686 -153013 645086 25009861 0.42990 0.31670 0.25340 true false 16255552 539717 16795269 70109473 24353652 45755821 2018570 403231 1615339 38367096 25632270 12734826 221936 221936 77123191 Funds Held in Trust 18187894 18187894 0 Refundable Student Loans 972464 972464 74440268 -214580 805 -213775 74654043 4859550 4859550 79513593 66928742 805 805 66927937 4859550 4859550 71787487 SCHEDULE D, PART III, LINE 4 PARK UNIVERSITY RECEIVED DONATED ARTWORK WHICH IT KEEPS ON DISPLAY THROUGHOUT THE CAMPUS. SCHEDULE D, PART V, LINE 4 THE INTENDED USE FOR THE ENDOWMENT FUNDS IS TO PROVIDE FUNDS FOR OPERATIONS, SCHOLARSHIPS, AND ACADEMIC PROGRAMS. SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI, LINE 2D FUNDRAISING EVENTS $805 SCHEDULE D, PART XI, LINE 4B GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN THE US $4,859,550 SCHEDULE D, PART XII, LINE 2D FUNDRAISING EVENTS $805 SCHEDULE D, PART XII, LINE 4B GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN THE US $4,859,550 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 PARK UNIVERSITY CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE, FROM A LARGE GEOGRAPHIC SECTION OR SECTIONS OF THE UNITED STATES AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS. ACCORDINGLY, PARK UNIVERSITY SATISFIES WITH THE PUBLICITY REQUIREMENT BY COMPLYING WITH SECTION 4.02 OF THE REGULATION. SCHEDULE E, PART I, LINE 6A PARK UNIVERSITY RECEIVED THE FOLLOWING TYPES OF US DEPARTMENT OF EDUCATION FUNDS/MONIES: FEDERAL PELL GRANTS, FEDERAL PERKINS LOAN, FEDERAL WORK STUDY GRANTS, FEDERAL TEACH GRANTS, STUDENT LOANS, AND SEOG GRANTS. Central America and the Caribbean Investments 1673435 Sub-Saharan Africa Program Services FACULTY TRAVEL ABROAD 10567 1684002 1684002 false false false false false false BALLYHOO 113445 105639 7806 20250 19702 2800 33510 GOLF TOURNAMENT 46600 26200 20400 3413 25240 5243 971 0 160045 131839 28206 3413 45490 24945 2800 34481 111129 -82923 true SCHOLARSHIPS AND GRANTS 772 3214527 BOOK SCHOLARSHIPS ATHLETIC SCHOLARSHIPS 188 1645023 BOOK SCHOLARSHIPS SCHEDULE I, PART I, LINE 2 IN AS MUCH AS ALL GRANTS ARE FOR NON-CASH ASSISTANCE FOR STUDENT recipients' TUITION, ROOM, BOARD OR BOOKS, WHEN SUCH REMISSION OCCURS, IT IS A DIRECT REDUCTION OF THE STUDENTS FEES TO THE UNIVERSITY. SINCE NO GRANT FUNDS ARE IN DIRECT CONTROL OF THE RECIPIENT, THE RECIPIENT IS NOT IN A POSITION TO DIVERT THE GRANT FROM ITS INTENDED USE. FOR ATHLETIC SCHOLARSHIPS, THE ATHLETIC DIRECTOR AND DIRECTOR OF STUDENT FINANCIAL SERVICES, TO ENSURE COMPLIANCE WITH NAIA RULES, MUST MONITOR SCHOLARSHIP EXPENDITURES FOR EACH STUDENT AND PROGRAM. X X true true X X X X X false true false false false false false false false ROGER W HERSHEY ATTORNEY 112577 0 500 0 99184 0 13230 0 21170 0 246661 0 0 0 DORLA D WATKINS CHIEF INFORMATION OFFICER 203110 0 500 0 387 0 12546 0 4848 0 221391 0 0 0 LAURIE D MCCORMACK VP UNIVERSITY RELATIONS & DEV 184902 0 500 0 516 0 12776 0 9731 0 208425 0 0 0 COURTNEY G HAWKINSON VP GEN COUNSEL 189950 0 500 0 78 0 11427 0 0 0 201955 0 0 0 MATTHEW VAN HOESEN FORMER CFO 165237 0 500 0 0 0 0 0 17918 0 183655 0 0 0 BRAD A KLEINDL DEAN SCH OF BUSINESS 135990 0 500 0 713 0 8907 0 23693 0 169803 0 0 0 DAVID M FOWLER FORMER PRESIDENT 140000 0 0 0 0 0 0 0 0 0 140000 0 0 0 SCHEDULE J, PART I, LINE 1A PARK UNIVERSITY PROVIDED ON CAMPUS HOUSING TO THE PRESIDENT. THE FAIR MARKET VALUE QUALIFIED AS NONTAXABLE UNDER CODE SECTION 119 AND IS NOT INCLUDED ON FORM W-2. THE PRESIDENT WAS PROVIDED PERSONAL SERVICES IN THE FORM OF HOUSEKEEPING OF THE PRESIDENT'S ON CAMPUS RESIDENCE. THE RESIDENCE WAS USED AS A LESS FORMAL MEETING VENUE FOR THE PRESIDENT TO INTERACT WITH DONORS, TRUSTEES, VISITING DIGNITARIES, PROFESSORS, ETC. THE FAIR MARKET VALUE WAS NOT TAXABLE INCOME BECAUSE COSTS OF HOUSEKEEPING ASSOCIATED WITH SIGNIFICANT PUBLIC USE OF THE RESIDENCE WAS CONSIDERED AN APPROPRIATE BUSINESS EXPENSE. SCHEDULE J, PART I, LINE 4B Vested 12/31/2015 ---------- ROGER W. HERSHEY $ 96,712 A IDA OF PARKVILLE MO 440562048 701533AA9 2007-09-13 22000000 STUD. RESID & REFUND OF 1999 ISSUE false false false A 4875000 0 22361049 0 235858 0 354906 0 0 18030848 3739437 0 2008 false true true true A false false false false 0 false false false false A false false false true false false 0 false 0 true false A false SCHEDULE K, PART III, LINE 3; PART IV, LINE 7; PART V PROCEDURES ARE UNDER REVIEW SCHEDULE K, PART IV, LINE 2C DATE OF REBATE COMPUATION: AUGUST 1, 2012 FORM 990, PART VI, LINE 4 THE ORGANIZATION'S BYLAWS WERE AMENDED ON MAY 13, 2016. THE IMMEDIATE PAST PRESIDENT OF THE PARK UNIVERSITY ALUMNI ASSOCIATION NO LONGER SERVES EX OFFICIO AS A VOTING TRUSTEE. FORM 990, PART VI, LINE 11B THE INFORMATION FOR THE FORM 990 IS GATHERED AND PREPARED BY THE UNIVERSITY CONTROLLER AND THEN SENT TO AN INDEPENDENT CPA FIRM FOR PREPARATION OF THE FORM 990. A DRAFT OF THE FORM 990 IS THEN REVIEWED BY THE UNIVERSITY CONTROLLER, CHIEF FINANCIAL OFFICER, AND A MEMBER OF THE AUDIT COMMITTEE. UPON RESOLUTION OF ANY COMMENTS OR CONCERNS, THE FORM 990 IS PLACED ON THE UNIVERSITY'S SECURE, CONFIDENTIAL, ELECTRONIC "BOARD PORTAL" FOR REVIEW AND COMMENT BY ALL MEMBERS OF THE AUDIT COMMITTEE. UPON CONSENSUS, THE FORM 990 IS APPROVED FOR FILING WITH THE IRS AND ALL BOARD TRUSTEES ARE NOTIFIED THAT THE FORM 990 HAS BEEN POSTED FOR THEIR INFORMATION ON THE UNIVERSITY'S SECURE, CONFIDENTIAL, ELECTRONIC "BOARD PORTAL". THE BOARD PORTAL IS THE CHANNEL UTILIZED BY THE UNIVERSITY TO PROVIDE MANAGEMENT AND GOVERNANCE INFORMATION TO THE BOARD. FORM 990, PART VI, LINE 12C The board of trustees ("board") of park university has adopted and regularly monitors the implementation, periodic review, and updating, of the park university conflict of interest policy ("policy"). At least once each year, each "interested person" (as defined in the policy), university officers, university trustees, and key employees of the university are required to file a park university conflict of interest disclosure statement ("disclosure statement"). In addition, interested persons are required to file updated disclosure statements at anytime potential or actual conflicts of interest arise. When new trustees are elected to the board and when employees become interested persons, each is required to file a disclosure statement. Attorneys in the office of general counsel collect and review the nature of the conflicts and related information reported on the disclosure statements. The board of trustees has delegated to the audit committee the authority to take actions described below. The audit committee initiates an inquiry into whether a conflict of interest exists. An interested person who is the subject of an audit committee conflicts inquiry may present information relevant to the existence of a conflict of interest. However, the interested person may not participate in the deliberations of the audit committee, and even if the interested person is a member of the audit committee, the interest person may not participate in the deliberations of the audit committee that are related to the conflict inquiry, and may not vote on any issue related to the conflict inquiry, including the existence of a conflict of interest or any actions to be taken by the audit committee, the executive committee or the board as a result of the existence of a conflict of interest. The chair of the audit committee keeps the board chair, the executive committee, the trusteeship committee, the board of trustees and the vice-president & general counsel apprised of the status of conflict-related inquiries and other conflict-related matters that are within the purview of the audit committee. The audit committee chair, board chair, and other trustees regularly seek legal counsel from the vice president & general counsel's office regarding conflicts related issues. No trustee (member of the board of trustees or the executive committee) who has a conflict of interest may participate in deliberations or any decision making related to that conflict of interest. FORM 990, PART VI, LINE 15A THE BOARD EXECUTIVE COMMITTEE FUNCTIONS AS THE UNIVERSITY'S "AUTHORIZED BODY" WITH REGARDS TO THE COMPENSATION OF THE UNIVERSITY PRESIDENT (WHO IS THE CEO AND TOP MANAGMEENT OFFICIAL OF THE UNIVERSITY), AND THE COMPENSATION OF UNIVERSITY OFFICERS. THE EXECUTIVE COMMITTEE HAS A COMPENSATION ADVISORY SUBCOMMITTEE THAT FOCUSES ON THESE MATTERS, ASSISTS THE EXECUTIVE COMMITTEE, AND MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE, BUT MAKES NO DECISIONS REGARDING EXECUTIVE COMPENSATION MATTERS. NO TRUSTEE (MEMBER OF THE BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE) WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A COMPENSATION ARRANGEMENT MAY PARTICIPATE IN COMPENSATION DELIBERATIONS OR IN ANY DECISION MAKING OF THE EXECUTIVE COMMITTEE THAT ARE RELATED TO A CONFLICT OF INTEREST OF THE TRUSTEE. THE EXECUTIVE COMMITTEE AND THE PRESIDENT, WITH ASSISTANCE FROM THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION AND THE VICE PRESIDENT & GENERAL COUNSEL OBTAIN COMPARABLE COMPENSATION INFORMATION FROM A VARIETY OF SOURCES, INCLUDING THE MOST CURRENT ADMINISTRATIVE COMPENSATION SURVEY PRODUCED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES ("CUPA SURVEY") AND THE JOINT COMPENSATION AND BENEFITS PROVISION OF LEGAL SERVICES SURVEY REPORT ("NACUA SURVEY") PERIODICALLY COMPILED BY THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY ATTORNEYS. THE EXECUTIVE COMMITTEE ALSO CONSIDERS COMPENSATION DATA THAT MAY BE AVAILABLE FROM OTHER SOURCES SUCH AS THE CHRONICLE OF HIGHER EDUCATION. THE EXECUTIVE COMMITTEE USES THAT DATA IN ITS PERIODIC COMPENSATION DELIBERATIONS. THE CUPA SURVEY INCLUDES DATA REGARDING COMPENSATION OF PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE NACUA SURVEY INCLUDES DATA REGARDING COMPENSATION OF ATTORNEYS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED UNIVERSITIES. THE PRESIDENT OF THE UNIVERSITY MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE REGARDING THE COMPENSATION OF VICE PRESIDENTS OF THE UNIVERSITY AND MAY PARTICIPATE IN DELIBERATIONS RELATED TO COMPENSATION OF UNIVERSITY EMPLOYEES WHOSE COMPENSATION IS CONSIDERED BY THE BOARD CHAIR, THE EXECUTIVE COMMITTEE AND/OR THE BOARD OF TRUSTEES. DELIBERATIONS OF THE EXECUTIVE COMMITTEE REGARDING EXECUTIVE COMPENSATION ARE CONTEMPORANEOUSLY DOCUMENTED AND RECORDS REGARDING EXECUTIVE COMPENSATIONS ARRANGEEMTNS ARE MAINTAINED. FORM 990, PART VI, LINE 15B SEE SCHEDULE O, PART VI LINE 15A FOR COMPENSATION PROCESS FOR OTHER OFFICERS. FORM 990, PART VI, LINE 19 THE PARK UNIVERSITY ("UNIVERSITY") ARTICLES OF INCORPORATION AND AMENDMENTS THERETO ARE PUBLICLY AVAILABLE IN THE OFFICE OF THE MISSOURI SECRETARY OF STATE. THE UNIVERSITY ENTERTAINS REQUESTS FOR COPIES OF THE CONFLICTS OF INTEREST POLICY. THE UNIVERSITY PROVIDES FINANCIAL INFORMATION ABOUT THE UNIVERSITY TO THE PUBLIC VIA ITS FORM 990. PARK VISTA LLC 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 440562048 LEASING MO PARK UNIV PARK VENTURES LLC 8700 NW RIVER PARK DRIVE PARKVILLE MO 64152 440562048 INVESTING MO 300000 PARK UNIV