2016-04-26T11:55:47-05:00 2015-06-30 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2014-07-01 580568698 OGLETHORPE UNIVERSITY INC OGLE 4042611441 4484 PEACHTREE ROAD NE ATLANTA GA 30319 NORMAN MCKAY VP FOR BUSINESS AND FINANCE 4043648322 2016-04-25 1 MARY JO ALEXANDER P00002534 7709558600 2016-04-25 X 2014 2016-08-17 19:52:53Z LAWRENCE SCHALL 4484 PEACHTREE ROAD NE ATLANTA GA 30319 60273177 0 X WWW.OGLETHORPE.EDU X 1835 GA INSTITUTION OF HIGHER EDUCATION 39 38 507 212 -1296 -9032 2513300 2446991 38592653 52427187 1388330 1295254 167053 214170 42661336 56383602 17469910 18425254 0 0 12157100 12566126 40415 12810 672509 11677089 13172186 41344514 44176376 1316822 12207226 81757463 92206983 24900723 23623955 56856740 68583028 X INSTITUTION OF HIGHER EDUCATION 0 0 29329450 18425254 32243377 INSTRUCTION - THE COST OF OFFERING THE ACADEMIC PROGRAMS. 6228577 6335942 STUDENT SERVICES - THE COSTS OF EXTRACURRICULAR AND STUDENT-ORIENTED SERVICES AND PROGRAMS DESIGNED TO ENHANCE THE LEARNING ENVIRONMENT. 3756437 13847868 AUXILIARY SERVICES, THE COSTS OF ACTIVITIES ASSOCIATED WITH THE SUPPORT OF THE CAMPUS AND RESIDENTIAL COMMUNITY.SEE SCHEDULE O FOR FURTHER DETAILS.OGLETHORPE ENTERED INTO A 99-YEAR GROUND LEASE AGREEMENT DATED MARCH 3, 2014 (AND LATER AMENDED ON APRIL 2, 2014) WITH LION GABLES REALTY LIMITED PARTNERSHIP ("GABLES"), UNDER WHICH GABLES WILL UTILIZE APPROXIMATELY 7 ACRES OF OGLETHORPE PROPERTY TO DEVELOP A RESIDENTIAL APARTMENT COMPLEX OF ABOUT 370 UNITS INCLUDING PARKING STRUCTURES, A FITNESS CENTER AND OTHER RECREATIONAL FACILITIES. THE FIRST PHASE OF APARTMENT UNITS WAS COMPLETED FOR INITIAL OCCUPANCY IN LATE 2015. UNDER THE TERMS OF THE AGREEMENT, GABLES OWNS, MANAGES AND MAINTAINS THE STRUCTURES AND FACILITIES IT DEVELOPS ON OGLETHORPE'S LAND AND OGLETHORPE WILL HAVE THE OPPORTUNITY TO RESERVE AVAILABLE APARTMENT UNITS FOR ITS RESIDENTIAL STUDENTS THAT CHOOSE TO LEASE FROM GABLES AT THEN EXISTING MARKET RATES. GABLES PAID OGLETHORPE $11,675,000 IN NON-REFUNDABLE CASH CONSIDERATION IN THREE INSTALLMENTS FROM AUGUST TO NOVEMBER 2014. OF THIS TOTAL, OGLETHORPE ELECTED TO ADD $11 MILLION TO ITS ENDOWMENT INVESTMENTS AND USE $675,000 FOR A VARIETY OF CAMPUS IMPROVEMENTS. 39314464 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 57 0 1 507 1 1 1 0 0 0 0 0 0 0 0 0 X 39 38 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X NORMAN MCKAY VP FOR BUSINESS AND FINANCE 4043648322 4484 PEACHTREE ROAD NE ATLANTA GA 30319 DR LAWRENCE M SCHALL PRESIDENT/EX-OFFICIO 60.00 X X 312151 0 30301 MR J FREDERICK AGEL SR TRUSTEE 1.00 X 0 0 0 MR CAMERON M BREADY TRUSTEE 1.00 X 0 0 0 MR DAVID NATHAN COOPER TRUSTEE 1.00 X 0 0 0 MS CEREE EBERLY CHAIR 2.00 X X 0 0 0 MR NORMAN P FINDLEY VICE-CHAIR 2.00 X X 0 0 0 MR KEVIN D FITZPATRICK JR TRUSTEE 1.00 X 0 0 0 MR JACK GUYNN TRUSTEE 1.00 X 0 0 0 MR HARALD HANSEN TRUSTEE 1.00 X 0 0 0 MR H THEODORE TED HEINTZ JR TRUSTEE 1.00 X 0 0 0 MR LARRY L JOHNSON TRUSTEE 1.00 X 0 0 0 MR DAVID M LEONARD TRUSTEE 1.00 X 0 0 0 MRS BELLE TURNER LYNCH TRUSTEE 1.00 X 0 0 0 DR ISAAC MELAMED TRUSTEE 1.00 X 0 0 0 MR THOMAS P O'CONNOR TRUSTEE 1.00 X 0 0 0 MR CEMAL OZGORKEY TRUSTEE 1.00 X 0 0 0 MS S TAMMY PEARSON SECRETARY 2.00 X X 0 0 0 MR ROBERT E REISER TREASURER 2.00 X X 0 0 0 MR BRIAN C SASS TRUSTEE 1.00 X 0 0 0 MR JOSEPH P SHELTON TRUSTEE 1.00 X 0 0 0 DR WILLIAM O SHROPSHIRE TRUSTEE 1.00 X 0 0 0 MRS DEAN DUBOSE SMITH TRUSTEE 1.00 X 0 0 0 MR MICHAEL K SZALKOWSKI TRUSTEE 1.00 X 0 0 0 MR TIMOTHY P TASSOPOULOS TRUSTEE 1.00 X 0 0 0 MS TRISHANDA TREADWELL TRUSTEE 1.00 X 0 0 0 MR JAMES WILLIAMS TRUSTEE 1.00 X 0 0 0 MR RAYMOND S WILLOCH TRUSTEE 1.00 X 0 0 0 MR BRIAN DAVIS TRUSTEE 1.00 X 0 0 0 MR CHARLES T WHITE TRUSTEE 1.00 X 0 0 0 MR D AUSTIN GILLIS TRUSTEE 1.00 X 0 0 0 MR J CLEVELAND CLEVE HILL TRUSTEE 1.00 X 0 0 0 MR JAMES HILL TRUSTEE 1.00 X 0 0 0 MR JAMES WINESTOCK TRUSTEE 1.00 X 0 0 0 MR L THOMAS CLEMENTS TRUSTEE 1.00 X 0 0 0 MR RD ODOM TRUSTEE 1.00 X 0 0 0 MR RICARDO C CARVALHO TRUSTEE 1.00 X 0 0 0 MRS DIANNE GLENNIE TRUSTEE 1.00 X 0 0 0 MS KIMBERLY ANN WILEY TRUSTEE 1.00 X 0 0 0 MR ANIL T CHERIYAN TRUSTEE 1.00 X 0 0 0 MR NORMAN MCKAY VP FOR BUSINESS AND FINANCE,CFO 40.00 X 18006 0 497 MR MICHAEL HORAN VP FOR BUSINESS AND FINANCE,CFO 40.00 X 104573 0 14023 MS LUCY LEUSCH VP, ENROLLMENT & FINANCIAL 40.00 X 123871 0 14734 MS MICHELLE T HALL VP, CAMPUS LIFE 40.00 X 120833 0 8672 MR MICHAEL K RULISON PROFESSOR, PHYSICS 40.00 X 109984 0 20323 MR KEITH AUFDERHEIDE ASSOCIATE PROVOST 40.00 X 107750 0 19422 897168 0 107972 6 0 1 0 ARAMARK SERVICES INC 4484 PEACHTREE ROAD ATLANTA GA 30319 FOOD SERVICES 2393230 NATIONAL MANAGEMENT RESOURCES 113 CORPORATE PARK EAST DRIVE LAGRANGE GA 30241 PHYSICAL PLANT MAINT & CUSTODIAL SVCS 1013635 ROYALL & COMPANY 1920 EACH PARHAM ROAD RICHMOND VA 23228 STRATEGIC MARKETING PROGRAMS 373647 ELLUCIAN 62814 COLLECTIONS CENTER DRIVE CHICAGO IL 606930628 COMPUTER SOFTWARE 181785 OSAP STE 503A 2001 JEFFERSON DAVIS HIGHW ARLINGTON VA 22202 STUDY ABROAD SERVICES 180300 7 2446991 436648 2446991 TUITION AND FEES 611310 32243762 32243762 AUXILIARY AND FACILITY SERVICES 611310 13847868 13847868 ROOM AND BOARD 611310 6335557 6335557 52427187 1034478 1034478 4145918 3885142 260776 260776 260776 22590 4433 18157 -1296 19453 MISCELLANEOUS 900099 196013 196013 196013 56383602 52427187 -1296 1510720 18425254 18425254 635379 103364 280998 251017 9937104 8408037 1408156 120911 408548 369949 38599 873599 764463 61956 47180 711496 583426 120954 7116 35284 35284 79694 79694 12810 12810 163398 163398 2747794 2041673 706121 17459 12570 4889 350170 269631 38518 42021 244470 198021 44904 1545 1330950 1251093 79857 643740 582136 16971 44633 90420 61485 7233 21702 577055 473185 103870 1961092 1608096 352996 226730 188186 38544 FOOD SERVICES 2360607 2288054 38737 33816 REPAIRS & MAINTENANCE 336659 13117 318650 4892 RECRUITMENT EXPENSE 189769 178429 10710 630 INSTRUCTION MATERIALS 136620 129682 6938 1680275 1364613 231426 84236 44176376 39314464 4189403 672509 34689 527724 3039027 2074913 697733 853040 16677 15516 950201 818545 92462837 37143031 55678431 55319806 19707872 29638284 472465 2329050 180761 171319 979607 458786 81757463 92206983 1862355 2200140 2222508 2102425 14020000 13450000 4700004 3523436 2095856 2347954 24900723 23623955 X 35966366 47550074 4050228 4049461 16840146 16983493 56856740 68583028 81757463 92206983 12207226 -480938 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 326000 3584480 X X X X 0 0 20803099 11143347 -65046 875650 31005750 19834785 127806 1714712 874204 20803099 18158769 2175754 317525 817263 19834785 19256753 81763 -250169 929578 18158769 17522206 191141 2573827 1030422 19256752 0.44570 0.54780 0.00650 1 0 4417309 4417309 71453159 31422614 40030545 13007889 5720417 7287472 3584480 3584480 55319806 FAIR MARKET VALUE OF INTEREST RATE SWAP 344321 ADVANCES FROM FEDERAL GOVERNMENT 515400 CAPITAL LEASE OBLIGATIONS 345269 OTHER LIABILITIES 1142964 2347954 X 37318445 -480938 -480938 37799383 18584219 18584219 56383602 25592157 0 25592157 18584219 18584219 44176376 PART III, LINE 4: THE WORKS THAT ARE IN THE PERMANENT COLLECTION HAVE BECOME PART OF OGLETHORPE UNIVERSITY'S ENDOWMENT. AS SUCH, THEY REPRESENT AN INVESTMENT WHICH, IN THE FUTURE, WILL BE CONSIDERED NOT ONLY A SPECIAL CULTURAL ASSET FOR THE UNIVERSITY AND THE COMMUNITY, BUT ONE WHICH WILL GROW BOTH IN IMPORTANCE AND VALUE AS WELL. AMONG OUR COLLECTION ARE PAINTINGS BY CONTEMPORARY REALIST PAINTERS SUCH AS RICHARD MAURY, D JEFFREY MIMS AND FRANCISCO ROA, RARE FAMILY PHOTOGRAPHS OF CLAUDE MONET AT GIVERNY, AND AN ORIGINAL ENGRAVING OF VICTOR HUGO BY SCULPTOR AUGUST RODIN. RECENT GIFTS AND ACQUISITIONS INCLUDE WATERCOLORS BY FRANCIS AUGUSTUS SILVA AND SONDRA FRECKELTON, CHAD AWAITS FINELY CARVED TORSO, AND GAIL WEGODSKYS OIL INTERIOR SCENE. OGLETHORPE UNIVERSITY MUSEUM OF ART (OUMA) IS A UNIQUE AND VALUABLE RESOURCE FOR ALL STUDENTS, ESPECIALLY ART STUDENTS. SINCE OUMA IS THE ONLY SMALL LIBERAL ARTS UNIVERSITY MUSEUM IN THE ENTIRE SOUTHEAST WHICH REGULARLY SHOWS NATIONALLY AND INTERNATIONALLY RECOGNIZED EXHIBITIONS, IT OFFERS OGLETHORPE STUDENTS THE ADVANTAGE OF SEEING INTERNATIONAL CULTURE FIRST HAND WITHIN STEPS OF THEIR CLASSROOMS. THIS DIRECT, PERSONAL EXPERIENCE OF ART ENLIGHTENS THE VIEWER AND COMPLEMENTS INFORMATION PRESENTED IN BOOKS AND SLIDES. MANY ALUMNI CONTINUE TO CHERISH THEIR EXPERIENCES IN OUR MUSEUM LONG AFTER GRADUATION. OUMA IS A RARE ASSET ON CAMPUS, FACILITATING THE UNIVERSITY IN FULFILLING ITS GOAL OF PROVIDING A HIGH LEVEL OF LIBERAL ARTS EDUCATION. PART V, LINE 4: OGLETHORPE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 107 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: THE UNIVERSITY QUALIFIES AS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(3) AND HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE UNIVERSITY. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE UNIVERSITY'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN THE OPINION OF MANAGEMENT, THE UNIVERSITY HAD NO SIGNIFICANT UNRELATED BUSINESS TAXABLE INCOME DURING 2014. ACCORDINGLY, NO PROVISION OR BENEFIT FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE UNIVERSITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. WITH FEW EXCPTIONS, THE UNIVERSITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF STUDENT ASSISTANCE TO FUNCTIONAL EXPENSE 18,425,254. RECLASS OF COST OF GOODS SOLD AGAINST REVENUES -4,433. RECLASS OF INVESTMENT MANAGEMENT FEES TO EXPENSE 163,398. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF STUDENT ASSISTANCE EXPENSE FROM REVENUE 18,425,254. RECLASS OF INVESTMENT MGMT FEES 163,398. RECLASS OF COST OF GOODS SOLD AGAINST REVENUES -4,433. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 ACADEMIC SCHOLARSHIPS 973 18425254 PART I, LINE 2: SCHOLARSHIPS GIVEN ARE A COMBINATION OF MERIT AID AND NEED-BASED AID. MERIT BASED SCHOLARSHIPS RECOGNIZE ACHIEVEMENT IN ACADEMICS AND THE POTENTIAL TO CONTRIBUTE TO CAMPUS LIFE. OVER 80% OF APPLICANTS TO THE UNIVERSITY TYPICALLY QUALIFY FOR SOME SORT OF MERIT AWARD. NEED-BASED AWARDS ARE AVAILABLE TO FULL-TIME STUDENTS WHO DEMONSTRATE NEED AS DETERMINED BY THE FAFSA. THESE AWARDS ARE GRANTED IN CONJUNCTION WITH FEDERAL, STATE, PRIVATE OR INSTITUTIONAL ASSISTANCE AND CANNOT EXCEED STUDENT'S FINANCIAL NEED. THESE AWARDS ARE DETERMINED ANNUALLY BASED ON FAFSA DATA. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR LAWRENCE M SCHALL PRESIDENT/EX-OFFICIO 266571 0 27580 0 18000 0 18200 0 12101 0 342452 0 0 0 PART I, LINE 1A THE PRESIDENT HAS USE OF A UNIVERSITY OWNED RESIDENCE AS A CONDITION OF HIS EMPLOYMENT TO PERFORM HIS DUTIES INTEGRALLY RELATED TO HIS RESPONSIBILITIES. THE UNIVERSITY PAYS FOR THE PRESIDENT'S HEALTH CLUB DUES. PART I, LINE 4B 457F PLAN: DR. LAWRENCE SCHALL $15500 A DEVELOPMENT AUTHORITY BONDS SERIES 2012 581500666 240463FE4 2012-10-31 6000000 CONSTRUCTION OF STUDENT CENTER 0 0 0 B DEVELOPMENT AUTHORITY BONDS SERIES 2004 581500666 240463HC6 2004-10-01 10000000 CONSTRUCTION OF STUDENT DORMITORY FACILITY 0 0 0 A 240000 6000000 112565 5887435 2013 1 0 1 0 B 330000 9700000 45000 9655000 2005 0 0 1 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 1 B 1 X 4 326000 QUALIFIED APPRAISAL X 20221 FMV X 6 90427 FMV 1 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTORS PART I, LINE 32B: THE ORGANIZATION USES THIRD PARTIES TO SELL NON-CASH CONTRIBUTIONS SUCH AS DONATIONS OF STOCK. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FORM 990 BEING FILED, A COPY IS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD. THE AUDIT COMMITTEE REVIEWS FORM 990, APPROVES, AND RECOMMENDS APPROVAL BY THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE ASKED TO ANNUALLY SIGN A CONFLICT OF INTEREST AGREEMENT. BOARD MEMBERS ARE ASKED TO DISCLOSE ANY CONFLICTS. CONFLICTS THAT DO ARISE ARE USUALLY RESOLVED BY ASKING A BOARD MEMBER TO RECUSE FROM VOTING OR SOME OTHER ARRANGEMENT DETERMINED BY THE BOARD CHAIR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES APPROVE THE CABINET POSITION SALARIES WHICH INCLUDES POSITIONS SUCH AS THE PRESIDENT AND VICE PRESIDENTS OF THE UNIVERSITY AND KEY EMPLOYEES. SALARIES ARE COMPARED TO INDEPENDENT DATA AT NACUBO. FORM 990, PART VI, SECTION C, LINE 19 OGLETHORPE UNIVERSITY DOES NOT MAKE ANY OF THESE DOCUMENTS PUBLIC. THE FINANCIAL INFORMATION CAN BE OBTAINED THROUGH THE FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AT OGLETHORPE UNIVERSITY. PART XII, LINE 2C NO CHANGES HAVE BEEN MADE TO THE PROCESS OF AUDITOR SELECTION, NOR REVIEW OF AUDITED FINANCIAL STATEMENTS.