2015-05-14T13:29:03-05:00 2014-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2013-07-01 580566167 THE CORPORATION OF MERCER UNIVERSITY % WILLIAM G SOLOMON CORP 4573012710 1501 MERCER UNIVERSITY DRIVE Suite MACON GA 31207 JULIA DAVIS ASSO VP - FINANCE & TREASURER 4573012710 2015-05-14 true ALLISON H FRANKLIN P00448640 4573012710 2015-05-05 2013 2016-02-25 16:41:14Z X William D Underwood 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 325074743 false X www.mercer.edu X 1833 GA Mercer University's mission is to teach, TO LEARN, TO CREATE, TO discover, to inspire, to empower, and to serve. 51 49 4150 80 26147 -29980 65808637 66193166 218116240 235623027 6295741 8677797 7488576 6816270 297709194 317310260 57778784 62554230 0 0 145588139 154256252 0 0 2702489 85949985 91248906 289316908 308059388 8392286 9250872 547249532 574337651 251644573 241037243 295604959 333300408 X MERCER UNIVERSITY'S MISSION IS TO TEACH, TO LEARN, TO CREATE, TO DISCOVER, TO INSPIRE, TO EMPOWER AND TO SERVE. IN FULFILLING THIS MISSION, THE UNIVERSITY SUPPORTS UNDERGRADUATE, GRADUATE, AND PROFESSIONAL LEARNING AS WELL AS BASIC RESEARCH AND ITS APPLICATION IN SERVICE TO OTHERS. AS A UNIVERSITY COMMITTED TO EXCELLENCE AND INNOVATION, MERCER CHALLENGES MEMBERS OF ITS COMMUNITY TO MEET AND EXCEED HIGH STANDARDS IN THEIR TEACHING, LEARNING, RESEARCH, SCHOLARSHIP AND SERVICE. FOUNDED BY BAPTISTS IN 1833, MERCER IS AN INDEPENDENT UNIVERSITY THAT REMAINS GROUNDED IN A TRADITION THAT EMBRACES FREEDOM OF THE MIND AND SPIRIT, CHERISHES THE EQUAL WORTH OF EVERY INDIVIDUAL, AND COMMITS TO SERVING THE NEEDS OF HUMANKIND. AS A REFLECTION OF THIS HERITAGE: O WE ENCOURAGE OUR STUDENTS TO DISCOVER AND DEVELOP FULLY THEIR UNIQUE COMBINATION OF GIFTS AND TALENTS TO BECOME LEADERS WHO MAKE A POSITIVE DIFFERENCE IN THE WORLD. O WE SEEK TO INSPIRE MEMBERS OF OUR COMMUNITY TO LIVE VIRTUOUS AND MEANINGFUL false false 93357997 201147603 INSTRUCTION: THE UNIVERSITY HAS 12 COLLEGES AND SCHOOLS. THESE EXPENSES ARE RELATED TO THE DIRECT INSTRUCTION OR TEACHING OF HIGHER EDUCATION. 59418986 59418986 Scholarship: The University has 12 colleges and schools. These expenses are related to the support provided to the students based on donor stipulation, need, and merit. 25197738 Academic Support: These expenses include providing library services and academic program development to the Provost and Deans of each college. 29197305 3135244 Research 47018706 34475424 Auxiliary Services 23454922 Student Services 5232767 Public Services 440654 Other 105344354 3135244 34475424 283319075 true true false true false false true false false true true true false false true true true false true false true false false false true false false true true true true false false false false false false false false false false true false false false true true false false false true 571 1 true 4150 true true true false false false false true true false false false false X 51 49 true false true false false false false true true false false true true true true true true true true false GA X WILLIAM G SOLOMON 4783012771 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 WILLIAM UNDERWOOD PRESIDENT 55.0 X X 344922 0 0 DAVID E HUDSON DIRECTOR 1.0 X Richard A Doc Schneider CHAIR OF THE BOARD 1.0 X X Curtis G Anderson DIRECTOR 1.0 X William H Anderson II DIRECTOR 1.0 X G Marshall Butler Sr DIRECTOR 1.0 X James Earl Carter Jr DIRECTOR 1.0 X Milton L Cruz DIRECTOR 1.0 X W Homer Drake Jr DIRECTOR 1.0 X William A Fickling Jr DIRECTOR 1.0 X Benjamin W Griffith III DIRECTOR 1.0 X Robert F Hatcher Sr DIRECTOR 1.0 X Thomas W Malone CHAIR OF EXECUTIVE COMMITTEE 1.0 X X J Thomas McAfee III DIRECTOR 1.0 X William Anthony Moye DIRECTOR 1.0 X J Reg Murphy DIRECTOR 1.0 X M Diane Owens DIRECTOR 1.0 X Robert L Steed DIRECTOR 1.0 X Julie Pennington-Russell DIRECTOR 1.0 X Barbara Baugh DIRECTOR 1.0 X James A Bishop DIRECTOR 1.0 X Thomas P Bishop DIRECTOR 1.0 X Neville Callam DIRECTOR 1.0 X William Coates Jr DIRECTOR 1.0 X Claude M Kicklighter DIRECTOR 1.0 X Yvette Miller DIRECTOR 1.0 X Miller Peterson Robinson DIRECTOR 1.0 X W Louis Sands DIRECTOR 1.0 X William L Self DIRECTOR 1.0 X James C Elder Jr DIRECTOR 1.0 X Raymond M Warren III DIRECTOR 1.0 X David E Linch DIRECTOR 1.0 X Cathy Callaway Adams DIRECTOR 1.0 X T Michael Crook DIRECTOR 1.0 X Jerry S Wilson Jr DIRECTOR 1.0 X John W Collier DIRECTOR 1.0 X James H Cowart DIRECTOR 1.0 X Dwight J Davis DIRECTOR 1.0 X Linda Willis Eydt DIRECTOR 1.0 X W Mansfield Jennings Jr DIRECTOR 1.0 X N Dudley Horton Jr DIRECTOR 1.0 X Jackson P Turner Jr DIRECTOR 1.0 X Kellie R Appel DIRECTOR 1.0 X Thomas B Black DIRECTOR 1.0 X Nancy Grace DIRECTOR 1.0 X Holly McCorkle Jones DIRECTOR 1.0 X J Curtis Lewis III DIRECTOR 1.0 X Carolyn Townsend McAfee DIRECTOR 1.0 X Howell L Watkins II DIRECTOR 1.0 X Dr Spencer B King III DIRECTOR 1.0 X Zell B Miller DIRECTOR 1.0 X Hugh P Thompson DIRECTOR 1.0 X O Gene Gabbard DIRECTOR 1.0 X James W Thomas Jr DIRECTOR 1.0 X Marc Treadwell DIRECTOR 1.0 X 4543 Heather Darden DIRECTOR 1.0 X AV Elliott DIRECTOR 1.0 X William J Ireland Jr DIRECTOR 1.0 X MALCOLM S BURGESS JR DIRECTOR 1.0 X JAMES NETHERTON EXEC. VP OF ADMIN & FINANCE 55.0 X 288093 45108 DAVID SCOTT DAVIS PROVOST/PROFESSOR 55.0 X 275656 51696 PENNY ELKINS SR VP FOR ENROLLMENT MGMT/PROF 55.0 X 239803 43309 RICHARD SWINDLE SR VP FOR ATLANTA 55.0 X 222392 42590 WILLIAM SOLOMON IV SR VP AND GENERAL COUNSEL 55.0 X 218799 41718 JULIA DAVIS ASSO VP - FINANCE & TREASURER 55.0 X 141250 16078 JOHN PATTERSON SR VP FOR UNIV. ADVANCEMENT 55.0 X 198512 42269 WILLIAM BINA DEAN 55.0 X 363862 44557 DAVID BARWICK EXECUTIVE DIRECTOR, MERC 55.0 X 235940 70642 LARRY BRUMLEY SR VP FOR MKTG & COMMUNICATION 55.0 X 211714 40344 HEWITT MATTHEWS DEAN/SR VP FOR HEALTH SCIENCES 55.0 X 273654 47763 Lake Lambert Dean Coll Lib Arts 1.0 X 149206 37197 JOHN HAWKINS ASSOCIATE PROFESSOR 55.0 X 1104860 27958 JOHN HUDSON PROFESSOR 55.0 X 558526 39215 AHMED SHAH ASSOCIATE PROFESSOR 55.0 X 473343 33870 JALAL GHALI CHIEF, DIV OF CARDIOLOGY/PROF 55.0 X 420101 6944 JEFFREY STEPHENS PROFESSOR/MEDICAL DIRECTOR 55.0 X 333029 38825 6058205 0 670083 229 false true false ARAMARK SERVICES INC CONNELL STUDENT CENTER LOCAL GA 31207 FOOD SERVICES 5702183 SHERIDAN CO PO BOX 4441 MACON GA 31208 CONTRACTOR 4835124 PREMIER LLC 126 C WEST MADISON STREET DUBLIN GA 31021 CONSTRUCTION 4115196 NATIONAL MANAGEMENT SERVICES PO BOX 1224 LAGRANGE GA 30241 CUSTODIAL SERVICES 3153037 GEORGIA POWER 96 ANNEX ATLANTA GA 30396 UTILITIES 3057722 115 38617 46675877 19478672 3483302 66193166 TUITION AND FEES 900099 201147603 201147603 AUXILIARY SERVICES 900099 34475424 34475424 235623027 5120244 -42353 5162597 2711 2711 0 369771 313796 55975 0 55975 55975 10086988 6532146 3554842 3554842 3554842 104425 38617 127491 -23066 -23066 0 502806 791050 -288244 -288244 MISCELLANEOUS 900099 7071605 7003105 68500 7071605 317310260 242626132 26147 8464815 3135244 3135244 59418986 59418986 0 0 3754327 1811705 1696939 245683 0 118311878 109221825 7846189 1243864 0 32190047 29898801 1831254 459992 0 0 293691 101695 191996 410956 410956 237736 237736 0 0 13134528 11865349 1067714 201465 1118656 1057823 60833 2597869 2314240 255913 27716 3500315 2024557 1455128 20630 0 951944 951944 6057680 5608900 331935 116845 0 0 8004081 6376429 1627652 0 15220970 12389870 2831100 3834260 3352178 482082 OPERATIONS & MAINTENANCE 14879477 14631606 246887 984 TELEPHONE 3345133 3023896 260763 60474 GOVT/PRIVATE SUBCONTRACTS 3144993 3144993 PROGRAMS & EVENTS 3084346 2347691 580825 155830 11432271 10403607 859658 169006 308059388 283319075 22037824 2702489 0 0 45948151 25894710 5909345 5528591 9691564 9478833 0 0 0 0 0 0 766746 800092 0 0 480612826 230169763 245961913 250443063 86115573 106179742 133860504 157500723 15135831 14474208 0 0 3859905 4037689 547249532 574337651 12514182 13321119 0 0 4856844 3308425 197059573 191012913 0 0 0 0 4173167 2814821 0 0 33040807 30579965 251644573 241037243 X 91791957 109510468 11813087 20921085 191999915 202868855 295604959 333300408 547249532 574337651 X 9250872 20925556 7519021 X false true X true true true X 60061109 67360685 65739531 65808637 66193166 325163128 0 0 60061109 67360685 65739531 65808637 66193166 325163128 0 325163128 4660573 4772315 4804467 5096189 5120244 24453788 0 5583208 5185942 6547110 7666239 7071605 32054104 381671020 1065852877 0.85195 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true 74205 false false true 163531 false false 237736 false false Schedule C, Part II-B, Line 1 Lobbying Expenses Mercer University retains a consultant, Hurt, Norton, and ASSOCIATES, TO PROMOTE LEGISLATION WHICH WOULD PROVIDE MERCER UNIVERSITY WITH FEDERAL FUNDS FOR USE OF VARIOUS UNIVERSITY PROJECTS AND PROGRAMS. ADDITIONALLY, A UNIVERSITY STAFF PERSON WORKED TO SECURE STATE APPROPRIATIONS. X 2 1 1 1 false 24.00 480 true 208286144 4942624 30767366 -12922898 256919032 191665145 5496176 16998134 5873311 208286144 196964111 2766514 -6964252 1101228 191665145 160222432 6838374 34868885 4965580 196964111 147597621 4872271 12388627 4636087 160222432 0.20680 0.76824 0.02497 false false 16328379 16328379 336830511 145993293 190837218 23913595 13206291 10707304 99611787 70970179 28641608 3928554 3928554 250443063 PERPETUAL TRUSTS 65525569 F HEDGED EQUITY FUNDS 34904322 F REAL ASSET FUNDS 28054959 F PRIVATE EQUITY FUNDS 11501943 F REMAINDER INTEREST TRUST 8677299 F MISCELLANEOUS INVESTMENTS 3214111 F CASH AND CASH EQUIVALENTS 5622520 F 157500723 0 ADVANCES FROM FEDERAL GOVERNMENT 14835682 ASSET RETIREMENT OBLIGATION 5645836 INTEREST RATE SWAP 3431854 ANNUITY OBLIGATIONS 4392972 POST RETIREMENT BENEFITS 1243317 CAPITAL LEASES OBLIGATIONS 1030304 30579965 X 286335851 20925556 7519021 28444577 257891274 59418986 59418986 317310260 248640402 248640402 59418986 59418986 308059388 Schedule D, Part II, Line 9 Conservation Easements When Mercer University received the funds for the Grand Opera House, they were reported as auxiliary revenue and auxiliary expenses. Funds spent on capital items were reported on the balance sheet as a building renovation. Funds received for the Hardeman building were recorded as private gifts/grants and operations expenses. Funds spent on capital items were reported on the balance sheet as a building renovation. There is no footnote describing Mercer University's accounting for conservation easements in the audited financial statements for the year ended June 30, 2014. Schedule D, Part V, Line 4 Endowment Funds The corpus is held in perpetuity. The earnings (unrealized, realized , and earnings) are used to pay investment fees for the individual funds, pay the investment advisor, and fund the annual approved spending allocation. The spending allocation funds the specific expense for which the donor provided the endowment fund. Schedule D, Part X, Line 2 FIN 48 (ASC 740) Footnote The University is recognized as an organization exempt from federal income tax under Section 501(a) of the Code as an organization described in Section 501(c)(3) whereby only unrelated business income, as defined by Section 512(a)(1) of the Internal Revenue Code (the Code), is subject to federal income tax. The University's management has reviewed its tax positions and determined that it does not have material unrecognized tax positions that should be reflected in the financial statements for 2014 or 2013. Schedule D, Part XI, Line 2d Amounts included on line 1 but not on form 990, Part VIII, Line 12 Change in Fair Value of Interest Rate Swap 652,842 Change in Beneficial Interest in Perpetual Trusts 6,500,585 Change in Value of Split-Interest Agreements 365,594 ------------ Total 7,519,021 Schedule D, Part XI, Line 4b Amounts Included on Form 990, Part VIII, Line 12 but not on line 1 Student Assistance Reclass 59,418,986 Schedule D, Part XII, Line 4b Amounts Included on Form 990, Part VIII, Line 25 but not on line 1 Student Assistance Reclass 59,418,986 true true true true true true true false false false false false false false false true false true SCHEDULE E - EXPLANATION FOR LINE 3 Mercers job announcements indicate that we are an Affirmative Action/Equal Opportunity Employer. Mercers nondiscriminatory policy is publicly available on the Human Resources website. The direct link to the policy as well as a full notice of nondiscrimination statement is also posted on the job applicant website. SCHEDULE E - EXPLANATION FOR LINE 6A THE UNIVERSITY PARTICIPATES IN THE FOLLOWING PROGRAMS: FEDERAL PELL GRANTS, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG), FEDERAL DIRECT SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS, FEDERAL PERKINS LOANS, HEALTH PROFESSIONS STUDENT LOANS, FEDERAL PARENT AND GRAD (PLUS) LOANS, OTHER VARIOUS FEDERAL LOAN PROGRAMS, FEDERAL TEACH GRANT, FEDERAL WORK STUDY PROGRAM, AND VETERANS EDUCATION PROGRAMS. THE UNIVERSITY ALSO RECEIVES VARIOUS FEDERAL GRANT AND CONTRACTS FOR ACADEMIC AND SCIENTIFIC RESEARCH. true Central America and the Caribbean Program Services Study Abroad East Asia and the Pacific Program Services Study Abroad Europe (Including Iceland and Greenland) Program Services Study Abroad Russia and the Newly Independent States Program Services Study Abroad South America Program Services Study Abroad Central America and the Caribbean Program Services Mercer on Mission East Asia and the Pacific Program Services Mercer on Mission South America Program Services Mercer on Mission Sub-Saharan Africa Program Services Mercer on Mission true false false true false false false ATHLETIC RAFFLE 37725 37725 12500 25025 AUTHOR'S LUNCH 44395 36000 8395 44395 3 60921 2616 58305 45571 143041 38616 104425 12500 114991 127491 -23066 true ADVANCED COMPLIANCE SOLUTIONS INC 5015 B U BOWMAN DR BUFORD GA 30518 582608642 15764 n/a n/a CONSULTING SERVICES ANDROMEDA SYSTEMS INC 2233 PARK AVE STE 203 ORANGE PARK FL 32073 203595072 323258 n/a n/a ENGINEERING SERVICES ANMED HEALTH 800 NORTH FANT ST ANDERSON SC 29621 570359174 501(C)(3) 15922 n/a n/a COLORADO ENGINEERING INC 1915 JAMBOREE DR STE 165 COLORADO SPRINGS CO 80920 743087464 55848 n/a n/a ENGINEERING SERVICES DUBLIN ORTHOPEDICS & REHAB PO BOX 368 DUBLIN GA 31040 581707928 31800 n/a n/a MEDICAL CONSULTING HONEYWELL 13478 DANIELSON ST STE 100 POWAY CA 92064 202304 n/a n/a ENGINEERING SERVICES L & G TECHNOLOGY SERVICES 300 NW INDUSTRIAL BLVD MACON GA 31216 043767246 6787 n/a n/a PAINTING SERVICES PATTON CO 1803 MADRID AVE LAKE WORTH FL 33461 29840 n/a n/a ENGINEERING SERVICES PI-TECH INC PO BOX 6631 MACON GA 31208 582354718 155429 N/A N/A ENGINEERING SERVICES POLYTRONIX 805 ALPHA DR RICHARDSON TX 75081 200440938 16511 N/A N/A ENGINEERING SERVICES PRECISION STANDARD 721 E SARATOGA FERNDALE MI 48220 382246419 16500 N/A N/A FABRICATION SERVICES PRINCE PRECISION PRODUCTS LLC 6600 HAWKINSVILLE RD MACON GA 31216 208219117 8372 N/A N/A FABRICATION SERVICES QTEC INC 700 BOULEVARD SOUTH HUNTSVILLE AL 35802 630972823 727901 N/A N/A ENGINEERING SERVICES REGENTS OF THE UNIV OF MINN 2221 UNIVERSITY AVE SE MINNEAPOLIS MN 55414 416007513 GOVT. 8690 N/A N/A RW TECHNOLOGIES US LLC 387 CONGRESS PARKWAY UNIT A-1 CRYSTAL LAKE IL 60014 453365226 12217 N/A N/A ENGINEERING SERVICES UNIVERSITY OF CONNECTICUT HEALTH CENTER 263 FARMINGTON AVE FARMINGTON CT 06030 521725543 GOVT 54134 N/A N/A UNIVERSITY OF TEXAS AT AUSTIN PO BOX 7159 AUSTIN TX 78713 746000203 GOVT 10778 N/A N/A WAKE FOREST UNIVERSITY MEDICAL CENTER BLVD WINSTONSALEM NC 27157 560532136 501(c)(3) 76698 N/A N/A WILLBROOK SOLUTIONS INC 4811-A BRADFORD DR HUNTSVILLE AL 35805 205868013 850281 N/A N/A ENGINEERING SERVICES ADVANCED ENGINEERING CONCEPTS 7589 MURKERSON STREET DONALSONVILLE GA 39845 581948440 20902 N/A N/A CONSULTING SERVICES JOHNS HOPKINS UNIVERSITY 12529 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 520595110 501(c)(3) 21180 N/A N/A MCCG 777 HEMLOCK STREET MACON GA 31201 582149128 501(c)(3) 52971 N/A N/A MEMORIAL HEALTH UNIV MED CTR 4700 WATERS AVE SAVANNAH GA 31403 311126469 501(c)(3) 5539 N/A N/A MET LABORATORIES 914 W PATAPSCO AVE BALTIMORE MD 21230 521782529 109450 N/A N/A TESTING SERVICES NORTHROP GRUMMAN 2411 DULLES CORNER PARK STE 800 HERNDON VA 20171 57695 N/A N/A ENGINEERING SERVICES SOUTHWEST RESEARCH INSTITUTE 6220 CULEBRA R0AD SAN ANTONIO TX 78238 582242074 222078 N/A N/A ENGINEERING SERVICES T BEAR LARSON & ASSOCIATES 7908 HOLLINGTON PLACE FAIRFAX STATION VA 22039 6558 N/A N/A ENGINEERING SERVICES TOM BRUSSAT ENGINEERING LLC 2412 BALLANTRAE CIRCLE CUMMING GA 30041 11748 N/A N/A ENGINEERING SERVICES UNIVERSITY OF ALABAMA AT BIRMINGHAM 1720 SECOND AVENUE SOUTH BIRMINGHAM AL 35294 636005396 GOVT 8090 N/A N/A 9 20 STUDENT FINANCIAL AID ASSISTANCE 4308 59418986 0 n/a n/a Schedule I, Part I, Line 2 Monitoring Use of Grants Assistance to Mercer University students in the form of scholarships are awardeD for the purpose of aiding with the cost of attending the university, i.e. for tuition, housing, and meals. Scholarships are based on academic achievement, need, and other donor requirements such as location of residence. Mercer University has criteria for the eligibility requirements needed to award a scholarship. Academic Scholarships are based on SAT scores and Grade Point Averages and are awarded by the Office of Admissions. Need based grants are made by the Office of Financial Planning and are made utilizing the federal need formula (FAFSA application). Students must be enrolled full-time to receive University scholarships/grants. Generally speaking, FAFSA data is verified for students who are selected for verification by the federal student aid program. X X X true true X X false false false false false false false false false JOHN HAWKINS ASSOCIATE PROFESSOR 1104860 10500 17458 1132818 JOHN HUDSON PROFESSOR 558526 22185 17030 597741 AHMED SHAH ASSOCIATE PROFESSOR 473343 14553 19317 507213 JALAL GHALI CHIEF, DIV OF CARDIOLOGY/PROF 420101 6944 427045 WILLIAM BINA DEAN 363862 25500 19057 408419 WILLIAM UNDERWOOD PRESIDENT 344922 0 25500 21518 391940 0 0 JEFFREY STEPHENS PROFESSOR/MEDICAL DIRECTOR 333029 17877 20948 371854 JAMES NETHERTON EXEC. VP OF ADMIN & FINANCE 288093 25500 19608 333201 DAVID SCOTT DAVIS PROVOST/PROFESSOR 275656 25500 26196 327352 DAVID BARWICK EXECUTIVE DIRECTOR, MERC 235940 24500 46142 306582 PENNY ELKINS SR VP FOR ENROLLMENT MGMT/PROF 239803 24500 18809 283112 RICHARD SWINDLE SR VP FOR ATLANTA 222392 23000 19590 264982 WILLIAM SOLOMON IV SR VP AND GENERAL COUNSEL 218799 22500 19218 260517 LARRY BRUMLEY SR VP FOR MKTG & COMMUNICATION 211714 21772 18572 252058 HEWITT MATTHEWS DEAN/SR VP FOR HEALTH SCIENCES 273654 25500 22263 321417 JULIA DAVIS ASSO VP - FINANCE & TREASURER 141250 14125 1953 157328 JOHN PATTERSON SR VP FOR UNIV. ADVANCEMENT 198512 20751 21518 240781 Lake Lambert Dean Coll Lib Arts 149206 15750 21447 186403 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE, PERSONAL SERVICES, AND CLUB DUES WILLIAM UNDERWOOD, MERCER UNIVERSITY PRESIDENT, RECEIVED A PROVISION OF HOUSING, INCLUDING CUSTODIAL SERVICES, FOR BUSINESS USE. NOT TREATED AS TAXABLE COMPENSATION. JAMES NETHERTON, SENIOR VICE PRESIDENT OF ADMINISTRATION AND FINANCE, RECEIVED A CORPORATE MEMBERSHIP TO A SOCIAL CLUB. NOT TREATED AS TAXABLE INCOME. A PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LYV4 2012-02-16 81211311 REFUNDING SERIES 1999A & 2003 false false false B PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LZJ0 2012-05-15 34448050 PURCHASE MERCER HOUSING CORPORATIO false false false C PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 2013-05-30 70350273 REFUNDING SERIES 2006A, 2006C & 20 false false false A 0 0 81211311 0 0 0 0 0 0 0 81211311 0 2005 true false true true B 0 0 34448050 0 0 0 454670 0 0 27286983 6706397 0 2012 true false true true C 0 0 70350273 0 0 0 290049 0 0 12000000 58060224 0 2013 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false true false false 0 false 0 false true B false true false false 0 false 0 false true C false true true true 1271 COUNTERPARTY CO 3.5 false false false 0 false true A false B false C false A DEVELOPMENT AUTHORITY OF BIBB COUNTY 581445945 2009-01-20 4250000 FINANCE ENTERPRISE RESOURCE PLANNI false false false A 1700000 0 4250000 0 0 0 45350 0 0 4204650 0 0 2011 false false true true A false false false false 0 false false false true A false true true false 0 false 0 false true A false X 16 4518 FMV X 9662 FMV X 32389 FMV X 42 1190810 FMV X 1 741000 FMV X 32 5719 FMV X RADIO STATION 1 820000 FMV X INSTRUMENTS 2 620712 FMV X MISCELLANEOUS 43 45360 FMV 3 false true false Form 990, Part VI, Section A, Line 1a Voting Board Members The affairs of the Corporation are managed and controlled by a Board of Trustees, consisting of forty-five (45) regular members who serve for terms of five (5) years each. During the July 1, 2013 - June 30,2014, there are five (5) Life Trustees serving on the Board of Trustees. The President of the University also serves as an ex officio member of the Board of Trustees. Each of these members of the Board of Trustees has the power to vote. During the intervals between meetings of the Board of Trustees, the Executive Committee possesses and may exercise all the powers of the Board in the management and direction of the business and affairs of the Corporation in all cases in which specific direction has not been given by the Board. The Bylaws of the Corporation provide that the Executive Committee shall consist of the Chairman of the Board and the President ex officio and not less than seven (7) additional members chosen from the membership of the Board. All of the members of the Executive Committee are voting members of the Board of Trustees. Form 990, Part VI, Section A, Line 1b Independent Board Members The President of the University, who serves as an ex officio voting member of the board of trustees, is compensated as an officer of the corporation, and is thus the only member of the corporation's governing body who is not considered to be "independent." Form 990, Part VI, Section A, Line 2 Family and Business Relationship Members of the Board of Trustees Carolyn T. McAfee and J. Thomas McAfee III have a family relationship (mother and son). Mercer University owns stock in MidCountry Financial Corp. Mercer University President William D. Underwood serves on the MidCountry Financial Corp. Board of Directors, and MidCountry Financial Corp President and Chief Executive Officer Robert F. Hatcher serves as a member of the Board of Trustees. MEMBER OF THE BOARD OF TRUSTEES RICHARD A. SCHNEIDER IS A PARTNER IN THE LAW FIRM OF KING & SPALDING, LLP; TRUSTEE DWIGHT J. DAVIS IS A RETIRED PARTNER IN THE LAW FIRM OF KING & SPALDING, LLP; AND LIFE TRUSTEE ROBERT L. STEED IS A RETIRED PARTNER IN THE LAW FIRM OF KING & SPALDING, LLP. KING & SPALDING, LLP REPRESENTS MERCER UNIVERSITY IN VARIOUS LEGAL MATTERS FROM TIME TO TIME . Form 990, Part VI, Section B, Line 11B REVIEW OF FORM 990 Prior to filing, the Form 990 was reviewed in detail by the Executive Committee of the Board of Trustees, and a copy of the finalized Form 990 was then distributed to all members of the Board of Trustees prior to filing. form 990, part vi, section b, line 12c Monitor and Enforce Compliance with Written Conflict of Interest Policy At each annual meeting of the Board of Trustees, each Trustee, officer, and key employee of the University is required (a) to review the institution's Conflict of Interest Policy for Trustees, Officers, and Key Employees; (b) to disclose any possible personal, familial or business relationships that reasonably could give rise to a conflict of interest involving the University; and (c) to acknowledge by his or her signature that he or she is in accordance with the letter and spirit of the Conflict of Interest Policy. All Trustees, officers and key employees are required to list on a Disclosure Form for Trustees, Officers, and Key Employees those substantive relationships that they maintain (or members of their families maintain) with organizations that do business with the University, or that otherwise could be construed to potentially affect their independent, unbiased judgment in light of their decision-making authority or responsibility. In the event a Trustee, officer or key employee is uncertain as to the appropriateness of listing a particular relationship, the Chair of the Board of Trustees and/or the President is consulted. They, in turn, may elect to consult with legal counsel, the Executive Committee, or the Board of Trustees in executive session. These disclosure forms are collected by the Secretary of the Corporation, and copies are provided annually to the University's independent auditors. Trustees, officers, and key employees who have declared or been found to have a conflict of interest are required to refrain from participating in consideration of proposed transactions, unless for special reasons the Board or administration requests information or interpretation. Persons with conflicts are not allowed to vote or be present at the time of the vote on such transactions. Whenever the Board of Trustees holds a meeting at which (a) a Trustee's, officer's, or key employee's financial interest in a matter is disclosed, (b) a determination regarding the existence of a conflict of interest is made, or (c) a transaction or arrangement with respect to which a Trustee, officer, or key employee has a conflict of interest is considered, the Board's consideration of these issues is documented in the minutes of the meeting. In the interim between annual meetings, each Trustee, officer, and key employee has an ongoing obligation to notify the Board of Trustees promptly of any actual, apparent or potential conflict of interest as it arises. Form 990, Part VI, Section B, Line 15a & 15B DETERMINING COMPENSATION The Executive Committee of the Board of Trustees has established a Compensation Committee, comprised of the Chair of the Board of Trustees, the Chair of the Executive Committee, and the Chair of the Finance, Investment and Property Committee, each of whom is an independent voting member of the University's governing body. On an annual basis, the Compensation Committee establishes the compensation arrangements for the President of the University, and also reviews the compensation arrangements for each University officer and other key employee who is in a position to exercise substantial influence over the affairs of the University to ensure that such compensation arrangements are reasonable. In carrying out this process, the Compensation Committee obtains and relies upon appropriate comparability data and concurrently documents the basis for its deliberations and decisions. No person having a conflict of interest with respect to the compensation arrangement for any University officer or key employee is present during the discussion and approval of such compensation arrangements. FORM 990, PART VI, SECTION C, LINE 19 Making Governing Documents, Conflict of Interest Policy, and Financial Statements Available to the Public. The University makes its governing documents (i.e., Articles of Incorporation and Bylaws) and its conflict of interest policy available to the general public by posting them on the institution's Web site (http://www.mercer.edu). On an annual basis, the University makes its audited financial statements available to the general public by continuing disclosure through the Electronic Municipal Market Access (EMMA) system of the Municipal Securities Rulemaking Board (MSRB) (http://emma.msrb.org). FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS CHANGE IN FV OF SPLIT INTEREST (652,842) CHANGE IN FV OF INTEREST RATE SWAP (6,500,585) CHANGE IN VALUE OF BENEFICIAL TRUSTS (365,594) ------------ TOTAL (7,519,021) Form 990, Part VI, Section A, Line 4 CHANGES TO ORGANIZING DOCUMENTS The Board of Trustees adopted comprehensive revisions to the Articles of Incorporation and Bylaws at its annual meeting on November 22, 2013. These changes were intended primarily to document compliance with accreditation standards in preparation for the University's upcoming recertification of accreditation by the Southern Association of Colleges and Schools (SACS) in 2015, and were not designed to change in any substantial way how the institution currently operates. The proposed amendments also contained a number of minor editorial revisions that were designed to modernize the governing documents and to reflect the way in which current governance practices have evolved over the years. The following significant changes were made to the ARTICLES OF INCORPORATION: 1. In Article III (b), the previous mission statement of the University was deleted: "Mercer University is a faith-based institution of higher learning that seeks to achieve excellence and scholarly discipline in the fields of liberal learning and professional knowledge. The institution is guided by the historic principles of religious and intellectual freedom, while affirming religious and moral values that arise from the Judeo-Christian understanding of the world." and the University's new mission statement (adopted November 22, 2013) was inserted in lieu thereof: "Mercer University's mission is to teach, to learn, to create, to discover, to inspire, to empower, and to serve. In fulfilling this mission, the University supports undergraduate, graduate, and professional learning as well as basic research and its application in service to others. As a University committed to excellence and innovation, Mercer challenges members of its community to meet and exceed high standards in their teaching, learning, research, scholarship and service. Founded by Baptists in 1833, Mercer is an independent university that remains grounded in a tradition that embraces freedom of the mind and spirit, cherishes the equal worth of every individual, and commits to serving the needs of humankind. As a reflection of this heritage, the University: - encourages its students to discover and develop fully their unique combination of gifts and talents to become leaders who make a positive difference in the world; - seeks to inspire the members of its community to live virtuous and meaningful lives by using their gifts and talents to serve the needs of humankind as an expression of their love for God and neighbor; - seeks to enrich the mind and spirit by promoting and facilitating an open and rigorous search for truth and understanding, including an examination of the moral, religious and ethical questions of this and every age; and - affirms and respects the dignity and sacred worth of every person and celebrates both our commonalities and our differences." 2. In Article IV (b), the previous provision establishing the number and composition of the governing board's voting members was deleted: "The number of Trustees shall not exceed forty-five (45), exclusive of the President, who shall be ex officio a member of the Board of Trustees." and a new provision was inserted in lieu thereof: "The number of Trustees shall be no fewer than twenty-five (25) and no more than forty-five (45), exclusive of the President, who shall be a ex officio member of the Board of Trustees, and Life Trustees." 3. In Article IV (b), the previous provision establishing the qualifications of the governing board's voting members was deleted: "No more than two-thirds of the Board of Trustees shall be actively engaged in the pursuit of the professions of medicine, law, education and theology at any time, and no more than one-fourth of the Board of Trustees shall be actively engaged in any one of the four aforementioned professions at any time." and a new provision was inserted in lieu thereof: "The Board of Trustees shall be cognizant at all times of the strength provided by ensuring a governing board whose membership reflects diverse backgrounds and perspectives." The following significant change was made to the BYLAWS: 1. The established process for determining the reasonableness of the compensation of University officers and key employees was incorporated into the Bylaws through the addition of a new standing committee of the Board of Trustees: ARTICLE XIII Executive Compensation Committee "Section 1. The Committee shall consist of the Chair of the Board, the Chair of the Executive Committee, and the Chair of the Finance, Investment and Property Committee. Section 2. The Committee shall, on an annual basis, review and make recommendations to the Executive Committee concerning the compensation arrangements for the President and for each University officer and other key employee who is in a position to exercise substantial influence over the affairs of the University. In carrying out this review, the Committee shall obtain and rely upon appropriate comparability data in making its recommendations to the Executive Committee, and shall adequately document the basis for its recommendations concurrently with making those recommendations to the Executive Committee. No person having a conflict of interest with respect to the compensation arrangement for any University officer or key employee shall be present during the discussion and approval of such compensation arrangement. Section 3. The Committee shall, on an annual basis, meet with the President to advise and consult with him concerning the current and future performance of his duties and responsibilities." 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