2016-05-13T12:55:24-05:00 2015-06-30 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2014-07-01 560529990 PFEIFFER UNIVERSITY PFEI 7044631360 PO BOX 960 MISENHEIMER NC 28109 DR COLLEEN PERRY-KEITH PRESIDENT 7044631360 2016-05-13 1 TAMELA L GAINEY P00437957 3362724551 2014 2016-08-17 19:52:53Z DR COLLEEN PERRY-KEITH PO BOX 960 MISENHEIMER NC 28109 48881724 0 X WWW.PFEIFFER.EDU X 1938 NC PFEIFFER UNIVERSITY IS A COMPREHENSIVE UNITED METHODIST-RELATED UNIVERSITY, WITH MULTIPLE CAMPUSES AND DELIVERY SYSTEMS, COMMITTED TO EDUCATIONAL EXCELLENCE, SERVICE, AND SCHOLARSHIP. WITHIN NURTURING COMMUNITIES OF LEARNERS, WE VALUE DIVERSITY AND PROMOTE THE ATTAINMENT OF FULL ACADEMIC AND PERSONAL POTENTIAL THROUGH ACCESSIBLE UNDERGRADUATE AND GRADUATE PROGRAMS. IT IS THE VISION OF THE UNIVERSITY THAT OUR STUDENTS EMBRACE THE CHRISTIAN VALUES OF HUMAN DIGNITY, INTEGRITY, AND SERVICE AND BECOME SERVANT LEADERS AND LIFELONG LEARNERS. 27 27 369 190 0 0 2344041 4629779 32272494 33032597 267827 1047864 146466 156186 35030828 38866426 10500961 11489518 0 0 14910966 14356660 0 0 839474 12339782 12390202 37751709 38236380 -2720881 630046 48615387 47124907 22848102 20842370 25767285 26282537 X PFEIFFER UNIVERSITY IS A COMPREHENSIVE UNITED METHODIST-RELATED UNIVERSITY, WITH MULTIPLE CAMPUSES AND DELIVERY SYSTEMS, COMMITTED TO EDUCATIONAL EXCELLENCE, SERVICE, AND SCHOLARSHIP. WITHIN NURTURING COMMUNITIES OF LEARNERS, WE VALUE DIVERSITY AND PROMOTE THE ATTAINMENT OF FULL ACADEMIC AND PERSONAL POTENTIAL THROUGH ACCESSIBLE UNDERGRADUATE AND GRADUATE PROGRAMS. IT IS THE VISION OF THE UNIVERSITY THAT OUR STUDENTS EMBRACE THE CHRISTIAN VALUES OF HUMAN DIGNITY, INTEGRITY, AND SERVICE AND BECOME SERVANT LEADERS AND LIFELONG LEARNERS. 0 0 20434687 33032597 PFEIFFER UNIVERSITY IS A COMPREHENSIVE UMC-RELATED UNIVERSITY WITH MULTIPLE CAMPUSES AND DELIVERY SYSTEMS PROVIDING HIGHER EDUCATION DEGREES THROUGH UNDERGRADUATE, GRADUATE, AND ADULT LEARNER PROGRAMS. 11489518 11489518 SCHOLARSHIPS AND SIMILAR FINANCIAL AID FOR STUDENTS. 31924205 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 378 0 1 369 1 0 0 0 0 0 1 1 0 0 0 0 X 27 27 0 0 1 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X JEFFREY PLYLER VP FOR FINANCE 7044633042 PFEIFFER UNIVERSITY HWY 52 MISENHEIMER NC 28109 X MR SAMUEL J ASBURY CHAIRMAN 3.00 X X 0 0 0 MR ROBERT J BRIETZ TREASURER 3.00 X X 0 0 0 REV JULIANNE BRITTAIN TRUSTEE 2.00 X 0 0 0 MR JAMES T CASHION TRUSTEE 2.00 X 0 0 0 MRS JANE S CRISCO TRUSTEE 2.00 X 0 0 0 MRS ANNE DANIEL TRUSTEE 2.00 X 0 0 0 MR TONY M DENNIS TRUSTEE 2.00 X 0 0 0 MR BOBBY H GRIFFIN TRUSTEE 2.00 X 0 0 0 MR LAWRENCE GROVES TRUSTEE 2.00 X 0 0 0 MR DAVID J MCILQUHAM PAST CHAIR/TRUSTEE 2.00 X 0 0 0 REV JOY T MELTON SECRETARY 3.00 X X 0 0 0 REV G SCOTT MIDDLETON VICE CHAIR 3.00 X X 0 0 0 MR STEVEN K PUGH TRUSTEE 2.00 X 0 0 0 MR RUSSELL C RING TRUSTEE 2.00 X 0 0 0 MR MARSHALL C ROGERS TRUSTEE 2.00 X 0 0 0 MR ALBERT L ROSE TRUSTEE 2.00 X 0 0 0 MR A JAMES RUSSELL TRUSTEE 2.00 X 0 0 0 DR KENNETH E RUSSELL TRUSTEE 2.00 X 0 0 0 MR C HERBERT SCHNEIDER TRUSTEE 2.00 X 0 0 0 MR ARCH Y STOKES TRUSTEE 2.00 X 0 0 0 MR RICK THAMES TRUSTEE 2.00 X 0 0 0 MR TOMY A ALDRIDGE EX-OFFICIO MEMBER 1.00 X 0 0 0 MRS DONNA I DEBOY EX-OFFICIO MEMBER 1.00 X 0 0 0 BISHOP LARRY GOODPASTER EX-OFFICIO MEMBER 1.00 X 0 0 0 MS TONYA LANIER EX-OFFICIO MEMBER 1.00 X 0 0 0 REV LAURA H AUTEN EX-OFFICIO MEMBER 1.00 X 0 0 0 MS MARTHA PHILLIPS EX-OFFICIO MEMBER 1.00 X 0 0 0 MICHAEL MILLER PRESIDENT 40.00 X 225189 0 13572 JERRY M BOONE INTERIM PRESIDENT 40.00 X 81333 0 2170 JEFF PLYLER VP OF FINANCE/CFO 40.00 X 84708 0 12699 THAD A HENRY SPEC ASST TO PRES FOR LDSHP & ADV 40.00 X 145531 0 15950 TRACY ESPY PROVOST/VP FOR ACADEMIC AFFAIRS 40.00 X 109371 0 22066 ROBERT REASSO VP FOR ATHLETICS 40.00 X 125880 0 2011 772012 0 68468 4 0 1 0 SODEXO FOOD SERVICE PO BOX 960 MISENHEIMER NC 28109 FOOD SERVICE 1692490 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 30353 MAINTENANCE 988002 VILLAGE OF MISENHEIMER PO BOX 100 MISENHEIMER NC 28109 SECURITY SERVICES 230000 SHARP ELECTRONICS 4404 STUART ANDREW BLVD CHARLOTTE NC 28217 ELECTRONICS/TECHNOLOGY 186048 SODEXO INC 48380 US HWY 52 MISENHEIMER NC 28109 BOOKSTORE 184136 13 1740 256006 4372033 204892 4629779 TUITION AND FEES 611710 27363645 27363645 DORMITORY & HOUSING 611710 3086861 3086861 FOOD SERVICE & VENDING 611710 1906215 1906215 OTHER SOURCES, ATHLETICS & LIBRAR 611710 629800 629800 BOOKSTORE 451211 46076 46076 33032597 498550 498550 138878 0 138878 138878 138878 9031688 1507522 8490806 1499090 540882 8432 549314 549314 42710 1740 25402 17308 17308 38866426 33032597 0 1204050 11489518 11489518 712589 591478 121111 11521523 8882388 2383253 255882 5910 4433 1182 295 1144236 1041195 66575 36466 972402 729302 194480 48620 32922 32922 117850 117850 167934 167934 395037 395037 248702 188583 35202 24917 942780 735368 188556 18856 870361 696289 130554 43518 3543733 3366546 106312 70875 1042436 781827 156365 104244 37564 30051 5634 1879 605692 605692 1741655 1654572 52249 34834 193988 155190 29098 9700 STUDENT BOARD 1535173 1535173 SPECIAL EVENTS 375761 300872 60174 14715 PROFESSIONAL MEMBERSHIP 118348 94678 17752 5918 BAD DEBT 79952 79952 340314 238220 54450 47644 38236380 31924205 5472701 839474 1212932 1558015 891241 1292737 878271 1683369 991767 472931 1323105 1060986 227853 163540 61046 388312 44186100 22500149 23680125 21685951 17265469 16881079 1875117 1937987 208461 0 48615387 47124907 1758849 1484456 1770748 1773888 296999 305157 15121390 14251279 1253088 1206580 1902626 1250000 744402 571010 22848102 20842370 X 5064791 4645174 6103984 6675692 14598510 14961671 25767285 26282537 48615387 47124907 X 630046 -138742 23948 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 3.29 1 0 19005313 322239 828802 893319 462062 167934 18633039 16617500 154342 3011146 413832 204753 159090 19005313 15095175 196908 1929240 381316 82764 139743 16617500 15513694 185439 76723 350763 180559 149359 15095175 12981255 260098 2680150 165108 89892 152809 15513694 0.78240 0.21760 0 0 1811780 1811780 33437296 16539491 16897805 7524723 5393598 2131125 1412301 567060 845241 21685951 ANNUITIES PAYABLE 117962 CAPITAL LEASES 424911 SERVICE PROVIDER AGREEMENT 28137 571010 X 27122324 -138742 2742 -11465570 -11601570 38723894 167934 -25402 142532 38866426 26607072 2742 25402 28144 26578928 167934 11489518 11657452 38236380 PART II, LINE 9: THERE IS NO VALUE OR RELATED INCOME REPORTED IN THE FINANCIAL STATEMENTS RELATED TO THE CONSERVATION EASEMENT. PART V, LINE 4: ENDOWMENT FUNDS ARE USED AS DIRECTED BY DONOR STIPULATION AND APPLICABLE LAWS. THESE RESOURCES FUND SCHOLARSHIPS, MAINTENANCE, AND OTHER PROGRAMS AND INITIATIVES THAT FURTHER THE VISION AND MISSION OF THE UNIVERSITY. PART X, LINE 2: PFEIFFER UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THE CAMPUS IS A SINGLE MEMBER LIMITED LIABILITY COMPANY AND IS THEREFORE DISREGARDED FOR INCOME TAX PURPOSES. MANAGEMENT HAS EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT PFEIFFER HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. PFEIFFER FILES FORM 990 IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIPS -11,489,518. CHANGE IN VALUE OF ANNUITY 4,980. CHANGE IN CASH SURRENDER VALUE 18,968. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENTS EXPENSES -25,402. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENTS EXPENSES 25,402. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIPS 11,489,518. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY INCLUDES THE RACIALLY NONDISCRIMATORY POLICY IN ALL ITS BROCHURES, CATALOGUES AND OTHER WRITTEN COMMUNICATIONS WITH THE PUBLIC THAT RELATE TO STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS. SCHEDULE E, PART I, LINE 6 EXPENDITURES OF FEDERAL AWARDS: SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT $ 88,883 FEDERAL DIRECT LOAN PROGRAM 12,754,523 FEDERAL WORK STUDY 120,570 PELL GRANT PROGRAM 1,701,422 FEDERAL PERKINS LOAN PROGRAM 91,355 EXPENDITURES OF STATE AWARDS: NC NEED-BASED SCHOLARSHIP PROGRAM $ 1,581,220 NC FORGIVEABLE EDUCATION LOANS FOR SERVICE 31,000 GOLDEN LEAF SCHOLARS PROGRAM 7,500 NC PROSPECTIVE TEACHERS 6,000 GOLF TOURNAMENT 35170 1740 33430 4121 11100 7355 HEART OF GRACE LUNCHEON 9280 9280 250 2576 44450 1740 42710 4371 11100 9931 25402 17308 1 SCHOLARSHIPS 1034 11489518 PART I, LINE 2: SCHOLARSHIPS ARE MONITORED EACH YEAR BY FINANCIAL AID IN CONJUNCTION/CONSULTATION WITH THE ADVANCEMENT DEPARTMENT. X 1 1 X X X 0 0 0 0 0 0 0 0 0 MICHAEL MILLER PRESIDENT 225000 0 0 0 189 0 0 0 13572 0 238761 0 0 0 THAD A HENRY SPEC ASST TO PRES FOR LDSHP & ADV 145531 0 0 0 0 0 0 0 15950 0 161481 0 0 0 PART I, LINE 1A HOUSING ALLOWANCES ARE GRANTED TO EMPLOYEES THAT ARE REQUIRED TO LIVE ON CAMPUS, ARE PART-TIME COACHES, OR IF INCLUDED IN TERMS OF EMPLOYMENT. SUCH ALLOWANCES ARE PROVIDED AS MONTHLY INCOME IN THE AMOUNT OF RENT AND AN ADDITIONAL 25% MARKUP TO COVER ANY TAXES. ANNUALLY, SUCH EMPLOYEES SIGN A RENTAL CONTRACT EACH JULY FOR THE UPCOMING LEASE TERM. PART I, LINE 1B INFORMATION REGARDING THE HOUSING ALLOWANCE IS CONTAINED IN THE EMPLOYEES' OFFER LETTERS. A PUBLIC FINANCE AUTHORITY 273866124 2012-12-21 15923238 CAPITAL PROJECTS & REFUNDING BALANCE ON SERIES 2006 BONDS 0 0 0 A 13180000 15923238 254738 1207000 1281500 2013 1 0 1 1 A 0 0 0 0 0 0 0 A 1 0 0 0 0 0 A 0 X 1941 DONOR/RECEIPT X 3239 DONOR/RECEIPT X 12 170733 AVERAGE PRICE X 17 4442 DONOR/RECEIPT X TRAVEL 4 9728 DONOR/RECEIPT/>$5K A X BANNERS 1 8000 DONOR RECEIPT X EVENTS/TICKETS/CAMPS 34 6419 DONOR/RECEIPT/>$5K A X EDUC. EQUIPMENT 2 390 DONOR RECEIPT 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPORTED REFLECTS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: PFEIFFER UNIVERSITY CONTRACTS WITH AN ONLINE AUCTION COMPANY FOR ASSISTANCE WITH THE ANNUAL HOMECOMING AUCTION. THE COMPANY PROVIDES A SPECIFIC WEB ADDRESS WHERE CONSTITUENTS CAN BID ONLINE AND PROVIDE MAXIMUM BIDS PRIOR TO THE LIVE AUCTION AT HOMECOMING. FORM 990, PART VI, SECTION A, LINE 4 BYLAWS WERE CHANGED DURING AUGUST 2014 TO ADJUST THE COMPOSITION OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 THE BOARD OF TRUSTEES HAS 27 VOTING MEMBERS, CONSISTING OF BOARD TRUSTEES AND SIX EX-OFFICIO MEMBERS (THE PRESIDENT AND PRESIDENT-ELECT OF THE ALUMNI BOARD). THE EXECUTIVE COMMITTEE HOLDS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. THE EXECUTIVE COMMITTEE IS COMPOSED OF THE BOARD CHAIR, PAST CHAIR, VICE-CHAIR, SECRETARY, TREASURER, AND CHAIRS OF ALL STANDING COMMITTEES. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 PFEIFFER UNIVERSITY'S FORM 990 WILL BE SENT TO THE PRESIDENT, CFO, AND ALL BOARD OF TRUSTEE MEMBERS FOR INDIVIDUAL REVIEW BEFORE THE RETURN IS SUBMITTED. THE FINANCE COMMITTEE WILL REVIEW IN DETAIL AT A SCHEDULED MEETING PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C PFEIFFER UNIVERSITY REQUIRES ALL TRUSTEES TO COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY. EACH FORM IS REVIEWED BY THE PRESIDENT'S OFFICE AND IF ANY CONFLICTS ARISE, THEY ARE QUESTIONED AND DEALT WITH AS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OR FINANCE COMMITTEE ANNUALLY REVIEWS COMPARABLE EXTERNAL DATA AND BENCHMARKS, AS WELL AS PERFORMANCE IN DETERMINING APPROPRIATE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES COPIES OF THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST. IN ADDITION, PFEIFFER UNIVERSIRY POSTS ITS CONFLICT OF INTEREST STATEMENT ONLINE AT THE PFEIFFER UNIVERSITY WEBSITE. FORM 990, PART VII, SECTION A, COLUMN F: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ANNUITY 4,980. CHANGE IN CASH SURRENDER VALUE 18,968. FORM 990, PART XII, LINE 2C, AUDIT/FINANCE COMMITTEE: THE FINANCE/AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION A, LINE 1A EACH TRUSTEE, AND SOME EX-OFFICIO MEMBERS, SHALL BE ENTITLED TO ONE (1) VOTE ON EACH MATTER SUBMITTED TO A VOTE AT A MEETING OF THE TRUSTEES, OR SUBMITTED BY EMAIL BALLOT. THE VOTE OF A MAJORITY OF THE TRUSTEES ON ANY MATTER AT A MEETING OF THE BOARD AT WHICH A QUORUM IS PRESENT SHALL BE THE ACT OF THE TRUSTEES ON THAT MATTER, UNLESS THE VOTE OF A GREATER NUMBER IS REQUIRED BY LAW OR BY THE CHARTER OR BYLAWS OF THE CORPORATION. ATTENDANCE BY TELECONFERENCE IS ACCEPTABLE TO CONSTITUTE A QUORUM AND TO VOTE ON A GIVEN MATTER. THE CHAIR OF THE FACULTY SENATE AND THE PRESIDENT OF THE STUDENT GOVERNMENT ASSOCIATION SHALL BE EX-OFFICIO, NON-VOTING MEMBERS OF THE BOARD, AND THEIR TERMS ON THE BOARD SHALL COINCIDE WITH THEIR RESPECTIVE TERMS AS CHAIR OF THE FACULTY SENATE AND PRESIDENT OF THE STUDENT GOVERNMENT ASSOCIATION. THE RESIDENT BISHOP OF THE WESTERN NORTH CAROLINA CONFERENCE AND THE SUPERINTENDENT OF THE ALBEMARLE DISTRICT SHALL SERVE AS EX-OFFICIO VOTING MEMBERS WHOSE TERMS ON THE BOARD SHALL COINCIDE WITH THEIR APPOINTED POSITIONS. THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, PAST CHAIR, VICE-CHAIR, SECRETARY, TREASURER, AND CHAIRS OF ALL STANDING COMMITTEES. ALL MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL HAVE GENERAL CHARGE OF THE BUSINESS OF THE CORPORATION BETWEEN THE REGULAR MEETINGS OF THE BOARD AND SHALL HAVE AUTHORITY TO ACT UPON ALL MATTERS WHICH, IN THE JUDGMENT OF THE COMMITTEE, SHALL REQUIRE IMMEDIATE ACTION OR DECISION. IT SHALL HAVE GENERAL CHARGE OF THE FINANCIAL INTERESTS OF THE UNIVERSITY AND OF SECURING AND NEGOTIATING LOANS. THE COMMITTEE SHALL ENSURE THAT THE UNIVERSITY IS IN COMPLIANCE WITH THE APPROVED CAPITAL EXPENDITURE POLICY. DURING THE INTERVALS BETWEEN THE MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO TRANSACT ALL FINANCIAL AND EXECUTIVE BUSINESS, EXCEPT AS OTHERWISE MAY BE PROVIDED BY LAW OR BY THESE BYLAWS. THE COMMITTEE SHALL CONDUCT AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE AND COMPENSATION PACKAGE. MINUTES OF THE MEETINGS AND ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE ACCURATELY RECORDED AND SHALL BE PRESENTED IN EACH CASE TO THE SUCCEEDING MEETING OF THE BOARD FOR APPROVAL AND RATIFICATION. CAMPUS AT PFEIFFER LLC 4701 PARK ROAD CHARLOTTE NC 28209 205671256 CAMPUS CAPITAL PROJECTS NC 2551100 PFEIFFER UNIVERSITY