2015-04-15T11:43:16-05:00 2014-05-31 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2013-06-01 560554207 MARS HILL UNIVERSITY MARS 8286891111 PO BOX 370 MARS HILL NC 28754 RANDELL N TILLEY VP-FINANCE 8286891100 2015-04-13 1 JANICE A RATICA P00358837 7043771678 2013 2016-02-25 16:41:14Z DAN LUNSFORD PO BOX 370 MARS HILL NC 28754 58933285 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. 36 36 1271 36 -9119 -9119 5179913 13388361 38120997 41906592 2114932 505893 1292774 1253085 46708616 57053931 16453897 18654656 0 0 12874568 13388313 0 0 1189361 15242698 16385810 44571163 48428779 2137453 8625152 114548610 126119362 40037798 38081389 74510812 88037973 X MARS HILL COLLEGE, 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 40253234 18654656 31754366 INSTRUCTION - PRIVATE LIBERAL ARTS COLLEGE OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK, AND FINE ARTS. APPROXIMATELY 1,398 STUDENTS BENEFITED. 923373 10657606 ACADEMIC SUPPORT - SERVICES THAT ARE AN INTEGRAL PART OF THE COLLEGE'S PRIMARY MISSION OF EDUCATION. 575583 PUBLIC SERVICE - ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES TO GROUPS EXTERNAL TO THE COLLEGE. 41752190 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 81 0 1 1271 1 0 0 0 0 0 0 0 0 0 0 X 36 36 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 JUSTUS M AMMONS MEMBER 1.00 X 0 0 0 RONALD O BROWN MEMBER 1.00 X 0 0 0 JERRY H CATES MEMBER 1.00 X 0 0 0 TROY L DAY MEMBER 1.00 X 0 0 0 EUGENE HOLDWAY MEMBER 1.00 X 0 0 0 R LEO JAMES MEMBER 1.00 X 0 0 0 J KENNETH SANFORD MEMBER 1.00 X 0 0 0 B JANE WINN MEMBER 1.00 X 0 0 0 PAULINE R BETHEA MEMBER 1.00 X 0 0 0 BRUCE W BOYLES JR MEMBER 1.00 X 0 0 0 MAX E BURGIN MEMBER 1.00 X 0 0 0 M KYLE CARVER MEMBER 1.00 X 0 0 0 DANIEL G CHRISTIAN 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 BRENT B KINCAID MEMBER 1.00 X 0 0 0 W HAROLD NEWMAN MEMBER 1.00 X 0 0 0 JOHN S AYERS MEMBER 1.00 X 0 0 0 GWEN 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 CAROLYN H FERGUSON 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 J DIXON FREE CHAIR 1.00 X X 0 0 0 CHERYL B PAPPAS VICE-CHAIR 1.00 X X 0 0 0 W WAYNE HIGGINS TREASURER 1.00 X X 0 0 0 WILL DAVIS SECRETARY 1.00 X X 0 0 0 DAN G LUNSFORD PRESIDENT 60.00 X 171475 0 20085 RANDELL N TILLEY VP-FINANCE 50.00 X 100839 0 10038 JOHN W WELLS EXECUTIVE VP FOR ACADEMIC AFFAIRS 45.00 X 124369 0 11234 HAROLD G CHRISTMAN VP-INSTITUTIONAL ADVANCEMENT 40.00 X 109303 0 21468 505986 0 62825 4 0 1 0 CHARTWELLS P O BOX 91337 CHICAGO IL 60693 DINING HALL SERVICES 2408716 H & M CONSTRUCTORS P O BOX 16589 ASHEVILLE NC 28816 CONSTRUCTION SERVICES 592361 PADGETT & FREEMAN ARCHITECTS 30 CHOCTAW STREET ASHEVILLE NC 28801 ARCHITECT SERVICES 534884 LEGERTON ARCHITECTURE INC 21 NORTH LIBERTY ST ASHEVILLE NC 28801 ARCHITECT SERVICES 507400 KRJ ROOFING PO BOX 2022 MARS HILL NC 28754 ROOFING/CONSTRUCTION 195868 8 1474815 11913546 462670 13388361 TUITION AND FEES 900099 31754366 31754366 RESIDENCE HALLS 900099 5080690 5080690 CAFETERIA INCOME 900099 4184256 4184256 AUXILIARY REVENUE 900099 887280 887280 41906592 377845 -9119 386964 79756 0 79756 79756 79756 2000000 7402 1878195 1159 121805 6243 128048 128048 667949 0 667949 667949 OTHER INCOME 900099 505380 505380 505380 57053931 42411972 -9119 1262717 18654656 18654656 302437 95780 206657 9989698 7888930 1419067 681701 494590 394042 66006 34542 1806315 1407371 278637 120307 795273 618011 124432 52830 681926 97007 562065 22854 587769 293394 294375 1022296 577940 263222 181134 692321 525924 116622 49775 966571 966571 923893 708026 215867 965269 965269 AUXILIARY EXPENSES 8262254 8262254 PLANT ALLOCATION 1095372 839421 255951 BAD DEBT EXPENSE 446758 446758 EQUIP RENTAL & MAINTENA 431055 251601 178596 858 310326 171262 93704 45360 48428779 41752190 5487228 1189361 9051836 7517395 4785419 3973579 280611 4043629 573650 957332 1663449 1749363 385529 358267 302482 130107 82691841 33387182 46943450 49304659 50437867 57971167 124317 113864 114548610 126119362 3534852 2756515 435397 390816 32118083 31039860 3949466 3894198 40037798 38081389 X 14554283 15137340 14723321 24204830 45233208 48695803 74510812 88037973 114548610 126119362 X 8625152 4135704 766305 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40310301 3362624 1552528 1503317 43722136 36766823 701986 4326281 1484789 40310301 39853587 914922 -1948619 2053067 36766823 33600909 693194 7274543 1715059 39853587 29439796 1552416 4313049 1704352 33600909 0.00000 0.05630 0.94370 0 0 1549148 1549148 64631625 27121191 37510434 579330 243103 336227 14352949 6022888 8330061 1578789 1578789 49304659 REAL ESTATE INVESTMENT TRUSTS 724028 F ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 1516340 F BENEFICIAL INTERESTS IN TRUSTS 14607273 F MUTUAL FUNDS 2683133 F ALTERNATIVE INVESTMENTS 38389045 F FIXED INCOME 51348 F 57971167 ANNUITIES PAYABLE 808179 POSTRETIREMENT BENEFITS LIABILITIES 1998015 REFUNDABLE ADVANCES FROM DEPARTMENT OF EDUCATION 1088004 3894198 X 43546065 4135704 -17643570 -13507866 57053931 0 57053931 30018904 244781 244781 29774123 18654656 18654656 48428779 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, 2014. 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, 2014. IN GENERAL, THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE EXAMINATION BY TAXING AUTHORITIES BEFORE ITS FISCAL YEAR ENDED MAY 31, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION DISCOUNTS REDUCING TUITION INCOME ON FINANCIALS -18,654,656. EARNINGS ON ASSETS HELD IN TRUST 1,011,086. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 159,061. POSTRETIREMENT BENEFIT RELATED CHANGES 85,720. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS REDUCING TUITION INCOME ON FINANCIALS 18,654,656. 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 0 0 INVESTMENTS 23381551 0 0 0 0 0 0 23381551 0 23381551 0 0 0 0 0 0 1 TUITION DISCOUNTS/SCHOLARSHIPS 1205 18654656 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 171475 0 0 0 0 0 20085 0 0 0 191560 0 0 0 PART I, LINE 1A THE PRESIDENT'S SPOUSE WILL OCCASIONALLY TRAVEL WITH HIM ON CERTAIN COLLEGE FUNCTIONS. THERE IS A SUBSTANTIAL BUSINESS PURPOSE FOR SUCH TRAVEL, AND THE EXPENSES ARE DOCUMENTED AND RETAINED ON FILE. X 6 272169 FAIR MARKET VALUE X 1 190501 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. BOARD MEMBERS WITH POTENTIAL CONFLICTS WILL RECUSE THEMSELVES FROM ANY VOTE OR DISCUSSION. 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 -159,061. POSTRETIREMENT BENEFIT RELATED CHANGES -85,720. EARNINGS ON ASSET HELD IN TRUST 1,011,086. 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