2016-02-12T08:23:55-06:00 2015-06-30 560587513 HAIGH BYRD & LAMBERT LLP PO BOX 53349 FAYETTEVILLE NC 283053349 990 2014-07-01 560657294 THE METHODIST UNIVERSITY INC METH 9106307000 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 DAWN AUSBORN CONTROLLER 9106307610 2016-02-05 1 MARCUS A HEDGEPETH P00151295 9104831437 2014 2016-08-17 19:52:53Z DR BEN E HANCOCK JR 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 84575490 0 X WWW.METHODIST.EDU X 1956 NC UNDERGRADUATE AND GRADUATE EDUCATION 36 34 1769 0 132953 -77633 12921051 5735159 67911338 71448444 1167620 1637973 -13900 -15266 81986109 78806310 21410467 23897758 0 0 29454860 30917991 0 0 730506 20267572 20714307 71132899 75530056 10853210 3276254 110884404 111532235 43583650 42240782 67300754 69291453 X THE PURPOSE OF METHODIST UNIVERSITY IS TO PROVIDE AN UNDERGRADUATE & GRADUATE EDUCATION FIRMLY GROUNDED IN THE LIBERAL ARTS TRADITION, THAT NURTURES MORAL VALUES & ETHICAL DECISION-MAKING; TO PROVIDE DISTINCTIVE PROFESSIONAL & GRADUATE PROGRAMS THAT COMPLEMENT THE UNDERGRADUATE PROGRAMS; TO PROVIDE EDUCATIONAL & CULTURAL RESOURCES TO THE COMMUNITY; AND TO PREPARE STUDENTS FOR A VARIETY OF CAREERS & EDUCATIONAL PURSUITS. 0 0 56649232 23897758 58554744 POST SECONDARY EDUCATION: METHODIST UNIVERSITY PROVIDES BOTH UNDERGRADUATE & GRADUATE EDUCATION, FOUNDED IN LIBERAL ARTS, TO APPROXIMATELY 2500 STUDENTS. THE UNIVERSITY'S PROGRAMS ARE CONCENTRATED IN ARTS & HUMANITIES, PUBLIC AFFAIRS, SCIENCE & HUMAN DEVELOPMENT, BUSINESS, & GRADUATE STUDIES, AND BOAST NATIONALLY RENOWNED PROGRAMS SUCH AS THE PROFESSIONAL GOLF MANAGEMENT & PHYSICIAN ASSISTANT PROGRAMS. THE UNIVERSITY IS A FULLY-ACCREDITED MEMBER OF THE SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS. 11335103 12720760 AUXILIARY SERVICES: THE UNIVERSITY'S AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS, DINING FACILITIES, A BOOKSTORE, & GOLF COURSE, SERVE TO PROVIDE A SUPPORT SYSTEM TO THE STUDENTS. 67984335 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 140 0 1 1769 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 36 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X DAWN AUSBORN 9106307610 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 DR RICHARD R ALLEN SR TRUSTEE 0.00 X 0 0 0 MR KEITH ALLISON TREASURER 0.00 X X 0 0 0 DR MARY LYNN BRYAN CHAIR OF THE BOARD 0.00 X X 0 0 0 MR A HOWARD BULLARD JR SECRETARY 0.00 X X 0 0 0 DR ALFRED E CLEVELAND TRUSTEE 0.00 X 0 0 0 DR LOLETA WOOD FOSTER TRUSTEE 0.00 X 0 0 0 REV DR R CARL FRAZIER JR TRUSTEE 0.00 X 0 0 0 MR PETER M BROOME TRUSTEE 0.00 X 0 0 0 MR LES A GRIFFIN TRUSTEE 0.00 X 0 0 0 GENRET JOHN W HANDY TRUSTEE 0.00 X 0 0 0 MRS BETTY UPCHURCH HASTY TRUSTEE 0.00 X 0 0 0 MR J DANIEL HIGHSMITH SR TRUSTEE 0.00 X 0 0 0 MR LOUIS COX TRUSTEE 0.00 X 0 0 0 MS MARGARET HIGHSMITH DICKSON TRUSTEE 0.00 X 0 0 0 DR RAKESH GUPTA TRUSTEE 0.00 X 0 0 0 MR JERRY A KEEN TRUSTEE 0.00 X 0 0 0 MR EARL D LEAKE TRUSTEE 0.00 X 0 0 0 MR O RAY MANNING JR VICE CHAIR OF THE BOARD 0.00 X X 0 0 0 MR JOHN HEALY TRUSTEE 0.00 X 0 0 0 MR CHARLES B HOLMES TRUSTEE 0.00 X 0 0 0 MR RON B MATTHEWS TRUSTEE 0.00 X 0 0 0 MR GEORGE W MILLER JR TRUSTEE 0.00 X 0 0 0 DR HW MILLER IV TRUSTEE 0.00 X 0 0 0 MRS LINDA B HUFF TRUSTEE 0.00 X 0 0 0 MR H TERRY HUTCHENS TRUSTEE 0.00 X 0 0 0 MR DON PRICE TRUSTEE 0.00 X 0 0 0 MR EDWARD T KEIL TRUSTEE 0.00 X 0 0 0 MR R WILLIFORD MCCAULEY TRUSTEE 0.00 X 0 0 0 MR WILLIAM O MUSGRAVE TRUSTEE 0.00 X 0 0 0 MR TIMOTHY S RICHARDSON TRUSTEE 0.00 X 0 0 0 DR WILLIAM SCHAEFER TRUSTEE 0.00 X 0 0 0 MR ELTON STANLEY TRUSTEE 0.00 X 0 0 0 MR WILLIAM R WEST SR TRUSTEE 0.00 X 0 0 0 DR JASON A WILLIAMS TRUSTEE 0.00 X 0 0 0 DR HARVEY T WRIGHT II TRUSTEE 0.00 X 0 0 0 MR LAWRENCE H WALSH TRUSTEE 0.00 X 0 0 0 DR BEN E HANCOCK JR PRESIDENT 40.00 X 340372 0 42669 DR GENE T CLAYTON VP BUSINESS AFFAIRS 40.00 X 150303 0 14164 MRS SANDRA AMMONS VP INSTITUTIONAL ADVANCEME 40.00 X 85039 0 6779 DR DONALD LASSITER VP PLANNING & EVALUATION 40.00 X 97362 0 11242 MR WILLIAM WALKER VP STUDENT DEVELOPMENT 40.00 X 85082 0 10639 MR RICK LOWE VP ENROLLMENT 40.00 X 97065 0 11258 DR DELMAS CRISP EXEC VP & ACADEMIC DEAN 40.00 X 157080 0 15108 MR ROBERT MCEVOY VP ATHLETICS 40.00 X 78064 0 10270 MR TAT CHAN PROFESSOR 40.00 X 109132 0 6643 DR LARRY GOINS PROFESSOR 40.00 X 139886 0 10119 MRTODD TELEMECO PROFESSOR 40.00 X 115203 0 1863 MRS DAWN AUSBORN ASSOC VP BUS AFFAIRS/CONTROLLER 40.00 X 111454 0 12310 MS CHRISTINA BEARD PROFESSOR 40.00 X 100307 0 11832 REV DR MICHAEL SAFLEY FORMER VP UNIV RELATIONS & CAMPUS 40.00 X 91989 0 10928 1758338 0 175824 8 1 1 0 ARAMARK EDUCATION SVCS LLC 5400 RAMSEY STREET FAYETTEVILLE NC 28311 FOOD SERVICE 2728883 M&E CONTRACTING INC 1032 71ST SCHOOL ROAD FAYETTEVILLE NC 28314 CONSTRUCTION 1716986 SASAKI ASSOCIATES INC 64 PLEASANT ST WATERTOWN MA 02472 ARCHITECTS 883677 BRADY INC PO BOX 13587 GREENSBORO NC 27415 CONTRACTING 366719 LORMAN INC PO BOX 41 DUNN NC 28335 CONTRACTING 291366 5 21341 957892 4755926 184586 5735159 TUITION AND FEES 611310 57635208 57635208 DORM REVENUES 611310 6870838 6870838 BOARD REVENUES 611310 3939601 3939601 GOLF COURSE REVENUES 713910 132953 132953 2869844 2869844 71448444 1111875 1111875 6268646 5702561 39987 566085 -39987 526098 -39987 566085 11366 21341 26632 -15266 -15266 78806310 71275504 132953 1662694 23897758 23897758 1756179 972728 698412 85039 23053281 20364080 2437313 251888 1233708 1032692 177473 23543 3029791 2577338 416468 35985 1845032 1578512 236117 30403 57764 57764 58875 58875 42814 42814 750442 462842 271815 15785 320203 116267 179812 24124 686297 518276 60008 108013 472468 167336 276823 28309 4285068 4120117 149330 15621 1589052 1363144 176082 49826 107176 82059 20373 4744 57212 49223 7837 152 3768700 3526470 236349 5881 680384 447954 221104 11326 FOOD SERVICES CONTRACT 2206182 2206182 SUPPLIES 1648796 1358435 268035 22326 EQUIPMENT RENT & REPAIR 1166003 993572 166434 5997 BOOKSTORE COST OF GOODS 1120448 1120448 1696423 1028902 655977 11544 75530056 67984335 6815215 730506 271574 16819 11336334 10098018 7140027 4836668 1528057 1961633 7130 586662 383906 439649 682608 893457 112274077 40039511 69065451 72234566 17802418 18099808 1210213 908527 1264145 1299459 192541 156969 110884404 111532235 3026609 3082976 1663943 1474577 35112640 34139088 187486 176662 1356236 1102047 2236736 2265432 43583650 42240782 X 46385464 48711925 10078802 9227295 10836488 11352233 67300754 69291453 110884404 111532235 X 3276254 -1380555 130935 -35935 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 0 0 1 42814 42814 0 PART II-B, LINE 1: THE UNIVERSITY PAID MEMBERSHIP DUES OF $42,814 TO NORTH CAROLINA INDEPENDENT COLLEGES & UNIVERSITIES (NCICU), A STATEWIDE ORGANIZATION COMPRISED OF INDEPENDENT COLLEGES ACCREDITED BY SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS, WHICH REPRESENTS HIGHER EDUCATION IN STATE & FEDERAL POLICY. 14299 113314 X X 0 0 1 X 25710732 2373044 370027 391655 4223063 81121 23757964 21855437 3667793 2463015 534266 1669275 71972 25710732 18758817 3165551 2267098 505447 1740427 90155 21855437 18968075 3728171 47854 436411 3463137 85735 18758817 14745939 4435266 2622781 484315 2287153 64443 18968075 0.44000 0.48000 0.08000 0 0 108500 2350804 2459304 76155152 24971731 51183421 24387 14446 9941 15264136 10897999 4366137 18371098 4155335 14215763 72234566 FEDERAL PORTION PERKINS LOANS DUE 355386 INTEREST RATE SWAP LIABILITY 1389925 STUDENT DORM DEPOSITS 194848 ANNUITY LIABILITY 94828 STUDENT ENROLLMENT DEPOSITS 230445 2265432 X 53530251 -1380555 -23922136 -25302691 78832942 -26632 -26632 78806310 51670487 26632 26632 51643855 23886201 23886201 75530056 PART IV, LINE 2B: BANK ACCOUNTS FOR STUDENT CLUBS & OTHER AFFILIATED GROUPS PART X, LINE 2: PART X, LINE 2: FASB ASC 740, INCOME TAXES PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED, AND DISCLOSED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE GUIDANCE REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE UNIVERSITY'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS WOULD MORE LIKELY THAN NOT BE SUSTAINED BY THE APPLICABLE TAX AUTHORITY UPON EXAMINATION. THE UNIVERSITY BELIEVES THAT IT HAS SUFFICIENT JUSTIFICATION FOR ANY TAX POSITONS TAKEN, INCLUDING ALLOCATION OF EXPENSE TO ITS UNRELATED BUSINESS INCOME, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX PROVISIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPONSORED SCHOLARSHIPS <$23,897,758> UNREALIZED LOSS ON INTEREST RATE SWAP <$24,378> PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES <$26,632> PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES $26,632 PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION ADJUSTMENT <$11,557> SPONSORED SCHOLARSHIPS $23,897,758 PART III, LINE 4 & PART V, LINE 4 PART III, LINE 4 - THE UNIVERSITY MAINTAINS A FEW HISTORICAL COLLECTIONS WITHIN ITS LIBRARY, INCLUDING DRAWINGS, LETTERS, MONOGRAPHS, BOOKS & RECORDS. PART V, LINE 4 - THE INTENDED USE OF THE UNIVERSITY'S ENDOWMENT FUNDS ARE TO PROVIDE SCHOLARSHIPS TO STUDENTS, AND CASH RESERVES TO THE UNIVERSITY. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 METHODIST UNIVERSITY PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ANNUAL ACADEMIC CATALOG, ON ITS WEBSITE, AND IN ALL ADVERTISEMENTS & SOLICITATIONS SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL AND STATE AID FOR STUDENT FINANCIAL AID AWARDS, AND FUNDS FOR THE CONSTRUCTION OF FACILITIES AND PURCHASE OF EQUIPMENT FOR THE UNIVERSITY'S EDUCATIONAL PROGRAMS. EAST ASIA & THE PACIFIC PROGRAM SERVICES STUDY ABROAD $5,284RECRUITING $4,295 9579 CENTRAL AMERICA & CARIBBEAN PROGRAM SERVICES STUDY ABROAD $8,602RECRUITING $27,047HUMANITARIAN $78,840 114489 EUROPE PROGRAM SERVICES STUDY ABROAD $116,165RECRUITING $160,612 276777 SOUTH AMERICA PROGRAM SERVICES RECRUITING $231 231 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD $1,597RECRUITING $2,471 4068 SOUTH ASIA PROGRAM SERVICES RECRUITING $39,061 39061 0 0 0 0 0 0 444205 0 444205 0 0 0 0 0 0 PART I, LINE 3: PART I COLUMN - ACCOUNTING METHOD: THE AMOUNTS REPORTED IN COLUMN F REPRESENT EXPENSES OF THE UNIVERSITY'S INTERNATIONAL RECRUITING DEPARTMENT. THE UNIVERSITY'S ACCOUNTING SYSTEM DOES NOT TRACK THESE EXPENSES BY REGION. THE TOTAL EXPENSES WERE DIVIDED UP AMONG THE REGIONS VISITED, BASED ON ESTIMATES OF REGIONAL COSTS TO TOTAL COSTS. GOLF TOURNAMENT 7600 2899 4701 488 2794 GOLF TOURNAMENT 25107 18442 6665 10768 2064 4259 6259 32707 21341 11366 10768 2064 4747 9053 26632 -15266 1 TUITION ASSISTANCE 1861 23897758 FMV PART I, LINE 2: PART I QUESTION 2 GRANTS TO RECIPIENTS IN THE U.S. INCLUDED TUITION ASSISTANCE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR BEN E HANCOCK JR PRESIDENT 335662 0 0 0 4710 0 20604 0 22065 0 383041 0 0 0 DR GENE T CLAYTON VP BUSINESS AFFAIRS 148552 0 0 0 1751 0 8899 0 5265 0 164467 0 0 0 DR DELMAS CRISP EXEC VP & ACADEMIC DEAN 154785 0 0 0 2295 0 9843 0 5265 0 172188 0 0 0 DR LARRY GOINS PROFESSOR 139094 0 0 0 792 0 4854 0 5265 0 150005 0 0 0 REV DR MICHAEL SAFLEY FORMER VP UNIV RELATIONS & CAMPUS 90800 0 0 0 1189 0 5663 0 5265 0 102917 0 0 0 PART I, LINE 1A THE UNIVERSITY MAINTAINS A RESIDENTIAL HOME ON CAMPUS WHERE THE PRESIDENT LIVES AS A CONDITION OF EMPLOYMENT. THE UNIVERSITY PAYS SOCIAL CLUB DUES OF $360 MONTHLY FOR THE PRESIDENT'S MEMBERSHIP IN HIGHLAND COUNTRY CLUB. THE UNIVERSITY PROVIDES PERSONAL SERVICES OF LIGHT HOUSEKEEPING, PERFORMED BY THE UNIVERSITY'S JANITORIAL STAFF AT THE RESIDENCE OF THE PRESIDENT. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65819GHL5 2012-08-29 17613130 FUND VARIOUS CAPITAL PROJECTS 0 0 0 B NC CAPITAL FACILITIES FINANCE AGENCY 561592154 2014-10-23 22640000 REFUND SERIES 2005 BOND & FUND VARIOUS PROJECTS 0 0 0 A 17613130 1342500 9581476 349530 6339624 2013 1 0 1 1 B 22640000 17920000 220000 4500000 1 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 0 B 0 0 0 0 1 1 BANK OF AMERICA & SUNTRUST 0 0 0 0 0 A 0 B 0 SCHEDULE K, PART IV, LINE 2C: 9/30/2013 SYSTEL OFFICE AUTOMATION OWNED BY A TRUSTEE 168881 COPIER LEASES 0 MCCOY WIGGINS CLEVELAND PARTNER IS A TRUSTEE 44815 LEGAL SERVICES 0 X 1 14299 APPRAISAL X 10 169287 QUOTED STOCK PRICES 0 1 1 PART I, LINE 32B: THE UNIVERSITY UTILIZES ITS BROKERAGE INVESTMENT FIRMS TO RECEIVE & SELL GIFTS OF STOCK, AS RECEIVED FROM TIME TO TIME. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED JOINTLY BY MANAGEMENT & THE EXTERNAL AUDITORS. IT IS REVIEWED BY MANAGEMENT & THE AUDIT COMMITTEE WITH THE EXTERNAL AUDITORS DURING THE REVIEW OF THE AUDITED FINANCIAL STATEMENTS. THE AUDIT COMMITTEE RELAYS THE RESULTS OF THE REVIEW TO THE FULL BOARD AT THE NEXT BOARD MEETING, & A COPY OF FORM 990 IS MADE AVAILABLE TO THE FULL BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY DISTRIBUTES ITS CONFLICT OF INTEREST POLICY & DISCLOSURE FORM TO ALL BOARD MEMBERS & EMPLOYEES WITH BUDGET AUTHORITY, FOR REVIEW OF THE POLICY & COMPLETION OF THE QUESTIONNAIRE. A DESIGNATED COMMITTEE REVIEWS THE DISCLOSURE FORMS FOR POSSIBLE CONFLICTS OF INTEREST. ANY FINDINGS ARE SUBMITTED TO THE UNIVERSITY'S AUDIT COMMITTEE FOR REVIEW. THE UNIVERSITY GENERALLY PROHIBITS TRANSACTIONS WITH CONFLICT OF INTEREST PARTIES. HOWEVER, THE AUDIT COMMITTEE HAS THE AUTHORITY TO APPROVE CERTAIN TRANSACTIONS IF IN THE BEST INTEREST OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A THE UNIVERSITY'S PRESIDENTIAL SALARY COMMITTEE EVALUATES THE PRESIDENT'S SALARY ON AN ANNUAL BASIS UTILIZING COMPARABILITY DATA, INCLUDING SALARY & BENEFITS HISTORY FROM BOTH WITHIN THE UNIVERSITY & OTHER PRIVATE COLLEGES & UNIVERSITIES IN N.C. THE PRESIDENTIAL SALARY COMMITTEE RECOMMENDS A SALARY FOR THE PRESIDENT TO THE UNIVERSITY'S FULL BOARD OF TRUSTEES. THE BOARD HOLDS AN EXECUTIVE SESSION TO VOTE & APPROVE THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS AVAILABLE ON THE UNIVERSITY'S WEBSITE. FORM 990, PART XI, LINE 9: BOOK/TAX DEPRECIATION ADJUSTMENT <$11,557> UNREALIZED LOSS ON INTEREST RATE SWAP <$24,378> -35,935. KING'S GRANT GOLF MANAGEMENT LLC 5400 RAMSEY STREET FAYETTEVILLE NC 28311 208176567 GOLF COURSE NC -89190 1205566 SINGLE MEMBER LLC WITH UNIVERSITY AS MEMBER METHODIST UNIVERSITY DEVELOPMENT CORPORATION 5400 RAMSEY STREET FAYETTEVILLE NC 28311 561972859 REAL ESTATE DEVELOPMENT NC REPORTS SEPARATELY ON FORM 1120 C -840 2189030 1.00000 1 1 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 METHODIST UNIVERSITY DEVELOPMENT CORP A 34257 FMV CASH KING'S GRANT GOLF MANAGEMENT LLC D 66512 FMV CASH METHODIST UNIVERSITY DEVELOPMENT CORP J 147095 FMV CASH METHODIST UNIVERSITY DEVELOPMENT CORP K 186000 FMV CASH DE MINIMIS O 0 FMV CASH DE MINIMIS Q 0 FMV CASH