2015-04-15T14:00:07-05:00 2014-05-31 CROWE HORWATH LLP 10 WEST BROAD STREET SUITE 1700 COLUMBUS OH 432153713 990 2013-06-01 310725957 MOUNT VERNON NAZARENE UNIVERSITY MOUN 7403979000 800 Martinsburg Road Mount Vernon OH 43050 ROBERT P HAMILL CFO 2015-04-15 true RACHEL SPURLOCK P00520729 6144690001 2013 2016-03-07 17:11:31Z HENRY W SPAULDING II 800 Martinsburg Road Mount Vernon OH 43050 72621953 false X WWW.MVNU.EDU X 1968 OH MOUNT VERNON NAZARENE UNIVERSITY (MVNU) EXISTS TO SHAPE LIVES THROUGH EDUCATING THE WHOLE PERSON AND CULTIVATING CHRIST-LIKENESS FOR LIFELONG LEARNING AND SERVICE. 42 31 1332 55 5402 4402 5000653 9190643 45126452 45504825 1066500 1890215 186859 146979 51380464 56732662 12499743 13914350 0 0 22734004 22291352 0 0 1285727 14936222 15070700 50169969 51276402 1210495 5456260 84760774 91267060 22869739 23250151 61891035 68016909 MOUNT VERNON NAZARENE UNIVERSITY (MVNU) EXISTS TO SHAPE LIVES THROUGH EDUCATING THE WHOLE PERSON AND CULTIVATING CHRIST-LIKENESS FOR LIFELONG LEARNING AND SERVICE. false false 46871111 13914350 45504825 MOUNT VERNON NAZARENE UNIVERSITY (MVNU) IS A UNIVERSITY OF ARTS AND SCIENCES AND PROFESSIONAL STUDIES, OFFERING DEGREES OF ASSOCIATE IN ARTS, ASSOCIATE IN APPLIED SCIENCE, BACHELOR OF ARTS, BACHELOR OF SCIENCE, AND SUCH OTHER BACCALAUREATE AND GRADUATE DEGREES AS MAY BE AUTHORIZED BY THE BOARD OF TRUSTEES OF MOUNT VERNON NAZARENE UNIVERSITY, AND PERMITTED BY THE STATE OF OHIO, AND THE HIGHER LEARNING COMMISSION; MEMBER - NORTH CENTRAL ASSOCIATION. 2,194 MVNU STUDENTS RECEIVED $13,914,350 IN MERIT-BASED, NEED-BASED, DEMOGRAPHIC-BASED AND PROGRAM/CAREER-BASED INSTITUTIONAL GRANTS/SCHOLARSHIPS AND $27,444,796 IN OTHER AID FOR THE YEAR ENDED MAY 31, 2014. 46871111 true true false false false false false false true true false false false true true false true true false true false false false false false false false true true true false false false false false false true false true false true false false false false true false false false false true 3074 0 true 1332 true true true false false false false true true false false false false X 42 31 true false false false false false false true true false false false true true false true true true false false X Robert P Hamill 7403979000 800 Martinsburg Road Mount Vernon OH 43050 CHRISTOPHER M WEGHORST SECRETARY, BOARD OF TRUSTEES 2.00 X X 0 0 0 GEOFF KUNSELMAN CHAIRMAN, BOARD OF TRUSTEES 3.00 X X 0 0 0 HENRY W SPAULDING II PRESIDENT 40.00 X X 161501 0 72065 ROBERT J MAHAFFEY VICE-CHAIR, BOARD OF TRUSTEES 2.00 X X 3000 0 0 ANGELA L CASTLEMAN MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 BRIAN W KNIGHT MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 BRYAN K CLAY MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 CHARLES H SUNBERG MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DAVID A SHATTLES MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 DAVID B LUTZ MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DAVID P JOHNSTON MEMBER, BOARD OF TRUSTEES 1.00 X 500 0 0 DIANA J PERRY MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DOUGLAS J VANNEST MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DOUGLAS W BOQUIST MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 EDWIN R PATTERSON MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 FRED L MAGNUS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 GARRETT MILLS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 GREGORY L PALMER MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 GREGORY S KASLER PARTIAL YEAR MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 HAROLD F BERRIAN MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 IFY O ANYALEWECHI MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 J KEVIN DENNIS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 JAMES A SHANK MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 JOSEPHUS A FOSTER MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 KAREN S KEENER MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 KATHY G GREENICH MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 KAYLA R BOSWORTH MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 KENT A ESTEP MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 KEVEN J WENTWORTH MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 LARRY J HAMMOND MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 LARRY W MCNUTT MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 LEE T SKIDMORE MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 MARGARET L BAILEY MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 MARK J LEDFORD MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 MERVIN C SMITH MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 MICHAEL W LEGG MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 P WENDELL KIZZEE MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 PAUL A WHITEFORD MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 2200 0 0 PEGGY FERGUSON MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 R MICHAEL DENNIS MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 RICHARD R HENRY JR MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 ROBERT A WEAVER MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 ROGER D BONZO MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 SAMUEL S BARBER MEMBER, BOARD OF TRUSTEES 1.00 X 500 0 0 SANDRA A SWIFT MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 SHARON S DODDS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 STEPHEN R WARD MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 STEVEN C SUTTLES MEMBER, BOARD OF TRUSTEES (PARTIAL YEAR) 1.00 X 0 0 0 TREVOR H JOHNSTON MEMBER, BOARD OF TRUSTEES 1.00 X 350 0 0 W MARSHALL DUKE MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 B BARNETT COCHRAN VICE-PRESIDENT FOR ACADEMIC AFFAIRS 40.00 X 105104 0 25913 ROBERT P HAMILL VICE-PRESIDENT FOR FINANCE 40.00 X 95982 0 17599 BROCK C SCHROEDER VICE-PRESIDENT FOR GPS AND ENROLLMENT 40.00 X 104338 0 24428 CAROL DOROUGH DEAN, SCHOOL OF NURSING 40.00 X 113604 0 14983 587079 0 154988 5 false true false PIONEER COLLEGE CATERERS 303 GLENROSE AVE NASHVILLE TN 37210 FOOD SERVICES 1764029 ELLUCIAN INC 62814 COLLECTIONS CTR DR CHICAGO IL 606930628 SOFTWARE AND RELATED SERVICES 1551103 SIMONSON CONSTRUCTION SVCS INC 2112 TROY RD ASHLAND OH 44805 CONSTRUCTION SERVICES 1276278 PASKILL STAPLETON & LORD INC 1 ROBERTS AVE GLENSIDE PA 190383497 ADVERTISING/MARKETING SERVICES 782541 WFF FACILITY SERVICES PO BOX 958204 ST LOUIS MO 631958204 JANITORIAL SERVICES 526260 14 247146 8943497 4635613 9190643 STUDENT TUITION AND FEES 611710 37851602 37851602 STUDENT HOUSING AND FOOD SERVICES 611710 6969494 6969494 CAMPUS ORGANIZATION INCOME 611710 363929 363929 ALUMNI, HOMECOMING, DRAMA AND MISC 611710 234822 234822 UNIVERSITY BOOKSTORE COMMISSIONS 611710 32177 32177 52801 52801 0 0 45504825 430681 430681 0 0 126208 7775 2373 126208 5402 131610 5402 126208 17094319 252133 15886918 1207401 252133 1459534 1459534 0 0 0 VENDING, PRINTING & COPYING COMMISSIONS 900099 15369 15369 0 0 0 0 0 0 15369 56732662 45504825 5402 2031792 0 13914350 13914350 0 0 524106 148209 375897 0 184281 184281 0 0 15382807 12208069 2666718 508020 1007536 804380 169723 33433 4070047 3203910 734246 131891 1122575 877582 209286 35707 0 66057 4418 61639 104040 0 104040 0 0 30662 30662 747868 506586 186616 54666 1228083 1200303 8612 19168 1794082 1217579 458461 118042 849237 103177 741546 4514 0 3125175 126229 2994731 4215 1327595 1081718 115430 130447 0 83291 69138 11749 2404 408245 0 341508 66737 0 2458070 2458070 316927 69334 247593 0 FOOD SERVICE / STUDENT HEALTH INSURANCE 2124318 2079298 24108 20912 CURRICULUM EXPENSES 371840 371840 0 0 UNRELATED BUSINESS INCOME TAXES PAID 535 535 ALLOCATION OF ITS AND FACILITY SERVICES 0 8667709 -8822230 154521 34675 32466 1159 1050 51276402 46871111 3119564 1285727 0 18750 18750 10006510 13010538 521325 699680 1838920 1367228 0 0 0 0 1418394 1696809 83407 42708 316701 244461 101365209 43498285 52969559 57866924 17076532 15622785 0 0 0 0 510676 697177 84760774 91267060 4607930 2942008 2411111 2549101 8947508 11317415 0 0 3838047 3734898 3065143 2706729 22869739 23250151 X 49095991 51730005 4352042 7621882 8443002 8665022 61891035 68016909 84760774 91267060 X 5456260 292744 376870 X false true X true true true X 4053743 5303827 4201007 5000653 9190643 27749873 0 0 4053743 5303827 4201007 5000653 9190643 27749873 10426199 17323674 542434 688254 753303 641420 556889 3182300 61372 7825 6135 4566 5402 85300 17571 24633 19982 18586 15369 96141 31113614 229252522 0.55680 X Schedule A, Part II, Line 10, Other Income DESCRIPTION - VENDING, PRINTING & COPYING COMMISSIONS, COLUMN A - 17571, COLUMN B - 24633, COLUMN C - 19982, COLUMN D - 18586, COLUMN E - 15369, COLUMN F - 96141; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14305585 219776 1549885 277903 79614 0 15717729 15083228 276543 1915150 301651 2667685 0 14305585 15037817 663613 -166046 196546 255610 0 15083228 12490221 1147284 1712588 224303 87973 0 15037817 11179698 294277 1313069 168616 128207 0 12490221 0.19730 0.55600 0.24670 false false 3493521 3493521 66519527 20824000 45695527 1442703 581285 861418 20101195 16703000 3398195 9808263 5390000 4418263 57866924 0 LIABILILITY UNDER UNITRUST AGREEMENTS 190449 ADVANCES FROM GOVERNMENT FOR FEDERAL LOANS 1586917 ACCRUED POSTRETIREMENT BENEFITS 929363 2706729 X 43331290 292744 500279 793023 42538267 30662 14163733 14194395 56732662 37205416 123409 123409 37082007 30662 14163733 14194395 51276402 Schedule D, Part V, Line 4, Intended uses of endowment funds THE UNIVERSITY'S ENDOWMENT PRIMARILY CONSISTS OF SEVEN CATEGORIES FOR USE: SCHOLARSHIP/STUDENT LOAN, ACADEMIC SUPPORT, MISSION OUTREACH, MAINTENANCE AND ENERGY, EQUIPMENT ACQUISITION, LECTURE SERIES, AND QUASI. Schedule D, Part X, Line 2, FIN 48 (ASC 740) footnote THE INTERNAL REVENUE SERVICE HAS RULED THAT THE UNIVERSITY AND FOUNDATION ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS A PUBLIC CHARITY DESCRIBED IN SECTION 501(C)(3) AND 509(A)(3). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PRESCRIBE RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX BENEFITS WILL BE RECOGNIZED ONLY IF THE TAX POSITION IS MORE-LIKELY-THAN-NOT SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-THAN-LIKELY-THAN-NOT TEST, NO TAX BENEFIT WILL BE RECORDED. MANAGEMENT HAS CONCLUDED THAT THEY ARE UNAWARE OF ANY TAX BENEFITS OR LIABILITIES TO BE RECOGNIZED AT MAY 31, 2014 AND 2013. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE UNIVERSITY WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE UNIVERSITY HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF MAY 31, 2014 AND 2013. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR THE YEARS BEFORE MAY 31, 2011. Schedule D, Part XI, Line 2d, Other revenues in audited financial statements not in form 990 GAIN ON POSTRETIREMENT BENEFIT RELATED CHANGES - 379565; GAIN ON CHANGE IN SPLIT-INTEREST AGREEMENTS - 118341; RENTAL EXPENSES - 2373; Schedule D, Part XI, Line 4b, Other revenues in form 990 not in audited financial statements UNFUNDED STUDENT FINANCIAL AID - 13914350; GAIN ASSOCIATED WITH BUILDING FIRE AND DISPOSAL OF LAND, BUILDING AND EQUIPMENT - 249383; Schedule D, Part XII, Line 2d, Other expenses in audited financial statements not in form 990 UNCOLLECTIBLE STUDENT RECEIVABLES - 121036; RENTAL EXPENES - 2373; Schedule D, Part XII, Line 4b, Other expenses in form 990 not in audited financial statements UNFUNDED STUDENT FINANCIAL AID - 13914350; GAIN ASSOCIATED WITH BUILDING FIRE AND DISPOSAL OF LAND, BUILDING AND EQUIPMENT - 249383; true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3, Racially nondiscriminatory policy AVAILABLE ON WEBSITE AND GUIDES Schedule E, Part I, Line 6a, Financial aid or assistance from a governmental agency STUDENTS RECEIVE FINANCIAL AID FROM VARIOUS FEDERAL DEPARTMENT OF EDUCATION PROGRAMS AND FROM STATE STUDENT FINANCIAL AID PROGRAMS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS AND MISSION OPPORTUNITIES PROVIDED TO STUDENTS AND THE RELATED TRAVEL COSTS. 133995 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS AND MISSION OPPORTUNITIES PROVIDED TO STUDENTS AND THE RELATED TRAVEL COSTS. 138612 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS AND MISSION OPPORTUNITIES PROVIDED TO STUDENTS AND THE RELATED TRAVEL COSTS. 22024 0 0 294631 false false false false false false Schedule F, Part I, Line 3, Method to account for expenditures on org.'s financial statements CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL Schedule F, Part I, Line 3, Method to account for expenditures on org.'s financial statements CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL true MERIT-BASED SCHOLARSHIPS 1474 7321676 NEED-BASED SCHOLARSHIPS 707 3511085 DEMOGRAPHIC-BASED SCHOLARSHIPS 545 2706183 PROGRAM/CAREER-BASED SCHOLARSHIPS 76 375406 Schedule I, Part I, Line 2, Procedures for monitoring use of grant funds DISBURSEMENTS IN FURTHERANCE OF THE UNIVERSITY'S EXEMPT PROGRAMS ARE MADE IN ACCORDANCE WITH PROCEDURES OR SUBJECT TO CONDITIONS ESTABLISHED BY THE INSTITUTION'S GOVERNING BOARD DESIGNED TO INSURE THAT INDIVIDUALS AND ORGANIZATIONS RECEIVING DISBURSEMENTS FROM THE ORGANIZATION IN FURTHERANCE OF ITS EXEMPT PROGRAMS ARE ADEQUATELY INVESTIGATED TO INSURE THAT THEY ARE QUALIFYING RECIPIENTS. STUDENTS RECEIVING SCHOLARSHIPS, STUDENT LOANS, ETC. ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEEDS AND OTHER SIMILAR STANDARDS. Schedule I, Part III, column(b), Estimated Number of Recipients NAME=MERIT-BASED SCHOLARSHIPS,DESCRIPTION=TOTAL FOR AWARD CATEGORY DIVIDED BY AVERAGE AWARD AMOUNT.;NAME=NEED-BASED SCHOLARSHIPS,DESCRIPTION=TOTAL FOR AWARD CATEGORY DIVIDED BY AVERAGE AWARD AMOUNT.;NAME=DEMOGRAPHIC-BASED SCHOLARSHIPS,DESCRIPTION=TOTAL FOR AWARD CATEGORY DIVIDED BY AVERAGE AWARD AMOUNT.;NAME=PROGRAM/CAREER-BASED SCHOLARSHIPS,DESCRIPTION=TOTAL FOR AWARD CATEGORY DIVIDED BY AVERAGE AWARD AMOUNT.; X X true true X X X X false false false false false false false false false HENRY W SPAULDING II PRESIDENT 161051 0 0 0 450 0 33025 0 39040 0 233566 0 0 0 Schedule J, Part I, Line 1a, Housing allowance or residence for personal use A MINISTERIAL HOUSING ALLOWANCE WAS PROVIDED TO HENRY W. SPAULDING, II. THIS BENEFIT IS NOT TAXABLE FOR FEDERAL INCOME TAX PURPOSES, BUT IS CONSIDERED TAXABLE SELF-EMPLOYMENT INCOME FOR SECA PURPOSES. ALL EMPLOYEES WITH QUALIFYING MINISTERIAL CREDENTIALS ARE ELIGIBLE FOR THIS BENEFIT. Schedule J, Part I, Line 1a, Health or social club dues or initiation fees MVNU HAS A MEMBERSHIP WITH A SOCIAL CLUB THAT HENRY W. SPAULDING II, PRESIDENT, USES FOR BUSINESS PURPOSES. NO AMOUNT IS TREATED AS TAXABLE COMPENSATION BECAUSE IT IS 100% BUSINESS USE. A OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 2010-12-23 1800000 PURCHASE, RENOVATE AND EQUIP A BUILDING false false false B CITY OF MOUNT VERNON OHIO 316400234 2011-12-30 9985000 CONSTRUCTION AND EQUIPPING OF A BUILDING. false false false A 315918 0 1801726 0 1726 0 36000 0 0 1764000 0 0 2012 false false true true B 166667 0 9985019 0 19 0 60680 0 0 9924320 0 0 2014 false false true true A false true false false 0.00800 0.00000 0.00800 false false B false false false false 0.00000 0.00000 0.00000 false false A false true false false false false 0.0 false 0.0 false false B false true false false false false false false false false false false A false B false SCHEDULE K, PART II, LINE 3, TOTAL PROCEEDS OF ISSUE THE TOTAL PROCEEDS OF ISSUE INCLUDES INVESTMENT EARNINGS OF $1,745. SCHEDULE K, PART III, LINE 9, ESTABLISHMENT OF WRITTEN PROCEDURES THE ORGANIZATION IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES TO MONITOR THE ORGANIZATION'S ABILITY TO REMAIN IN COMPLIANCE WITH THE ARBITRAGE REQUIREMENTS UNDER SECTION 148 OF THE INTERNAL REVENUE CODE. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. SCHEDULE K, PART IV, LINE 7, PROCEDURES TO UNDERTAKE CORRECTIVE ACTION THE ORGANIZATION IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES WHICH DICTATE HOW MANAGEMENT TIMELY IDENTIFIES AND CORRECTS VIOLATIONS OF FEDERAL TAX REQUIREMENTS USING THE VOLUNTARY CLOSING AGREEMENT PROGRAM PROVIDED BY THE IRS WHEN SELF-REMEDIATION IS NOT AVAILABLE TO THE ORGANIZATION. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. IN THE EVENT A VIOLATION IS IDENTIFIED THE ORGANIZATION'S POLICY IS TO CORRECT THE VIOLATION AS SOON AS POSSIBLE, WHILE WORKING WITH THE FEDERAL AUTHORITIES AS NECESSARY TO ENSURE THAT SUFFICIENT CONTROLS ARE PRESENT WHICH WILL GUARD AGAINST FUTURE VIOLATIONS. SCHEDULE K, PART V, ESTABLISHMENT OF WRITTEN PROCEDURES THE ORGANIZATION IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES TO ENSURE ALL NONQUALIFIED BONDS (IF ANY) OF THE ISSUE ARE REMEDIATED IN ACCORDANCE WITH THE ASSOCIATED REGULATIONS. THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. SEE PART V SUPPLEMENTAL INFORMATION 72513 MERIT-BASED SCHOLARSHIPS INSTITUTIONALLY FUNDED FINANCIAL AID SEE PART V SUPPLEMENTAL INFORMATION 53475 NEED-BASED SCHOLARSHIPS INSTITUTIONALLY FUNDED FINANCIAL AID SEE PART V SUPPLEMENTAL INFORMATION 48696 TUITION REMISSION INSTITUTIONALLY FUNDED FINANCIAL AID CHRISTA MCNICHOLS CHILD OF GARRETT MILLS, TRUSTEE 23670 EMPLOYEE COMPENSATION false JILL BARBER SPOUSE OF SAMUEL BARBER, TRUSTEE 26244 EMPLOYEE COMPENSATION false MEGAN B BURDEN CHILD OF HENRY W. SPAULDING II, PRESIDENT 26811 EMPLOYEE COMPENSATION false RUTH E HAMILL WIFE OF ROBERT P. HAMILL 16235 EMPLOYEE COMPENSATION false AMY E DUNMIRE CHILD OF ROBERT P. HAMILL 24089 EMPLOYEE COMPENSATION false BRADLEY DUNMIRE SON-IN-LAW OF ROBERT P. HAMILL 23877 EMPLOYEE COMPENSATION false SCHEDULE L, PART III, COLUMN (B), NAME OF INTERESTED PERSON COLLEGES, UNIVERSITIES AND PRIMARY AND SECONDARY SCHOOLS ARE NOT REQUIRED TO IDENTIFY INTERESTED PERSONS TO WHOM THEY PROVIDED SCHOLARSHIPS, FELLOWSHIPS AND SIMILAR FINANCIAL ASSISTANCE. PURSUANT TO THE INSTRUCTIONS TO FORM 990, SCHEDULE L, PART III, COLUMNS (A) AND (B) HAVE BEEN LEFT BLANK. X 2 4605193 MARKET VALUE X VARIOUS AUTION ITEMS 62 30420 MARKET VALUE 0 false true false Schedule M, Part I, Explanations of reporting method for number of contributions SECURITIES - PUBLICLY TRADED: NUMBER OF CONTRIBUTIONS OTHER: NUMBER OF CONTRIBUTIONS Schedule M, part I, column (b), Line 9, Number of contributions or items contributed. NUMBER OF CONTRIBUTIONS Schedule M, part I, column (b), Line other, Number of contributions or items contributed. OTHER=VARIOUS AUTION ITEMS : NUMBER OF CONTRIBUTIONS Form 990, Part VI, Sec A, Line 1a, Delegate broad authority to a committee FROM THE ORGANIZATION'S BYLAWS: SECTION 8: DUTIES OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. IN THE INTERIM OF ANNUAL OR SPECIAL MEETINGS OF THE BOARD OF TRUSTEES, THE MANAGEMENT OF THE AFFAIRS OF THE CORPORATION SHALL BE VESTED IN THE EXECUTIVE COMMITTEE. 1. THE EXECUTIVE COMMITTEE SHALL MEET AS OFTEN AS IS NECESSARY AND SHALL BE GOVERNED BY SUCH RULES AS IT MAY ADOPT, PROVIDED SUCH RULES AND REGULATIONS ARE IN HARMONY WITH THE BYLAWS OF THE CORPORATION. 2. THE EXECUTIVE COMMITTEE SHALL ACT ON WHATEVER MATTERS OF CORPORATION BUSINESS AS SHALL BE REFERRED AND ASSIGNED TO IT BY THE BOARD OF TRUSTEES. 3. THE EXECUTIVE COMMITTEE MAY BY RESOLUTION AUTHORIZE THE SALE, CONVEYANCE, OR MORTGAGING OF ANY REAL PROPERTY HELD BY THE CORPORATION, OTHER THAN THE MAIN CAMPUS. 4. THE EXECUTIVE COMMITTEE SHALL APPROVE THE GUIDELINES UNDER WHICH THE SENIOR ADMINISTRATORS OF THE UNIVERSITY ARE SELECTED. THE PRESIDENT SHALL CONFER WITH THE EXECUTIVE COMMITTEE PRIOR TO SELECTION, REASSIGNMENT, OR TERMINATION OF A SENIOR ADMINISTRATOR. 5. THE EXECUTIVE COMMITTEE SHALL KEEP A RECORD OF ITS PROCEEDINGS AND COPIES OF THESE MINUTES SHALL BE SENT TO EACH MEMBER OF THE EXECUTIVE COMMITTEE WITHIN FIVE DAYS AFTER THE EXECUTIVE MEETING. MINUTES OF ACTION MUST ALSO BE RECEIVED BY THE MEMBERS OF THE BOARD OF TRUSTEES AT ITS NEXT MEETING. 6. THE EXECUTIVE COMMITTEE MAY AUTHORIZE AND APPROVE RESOLUTIONS NECESSARY TO OPEN AND CLOSE BANK, STOCK, BONDS AND OTHER INVESTMENT ACCOUNTS AND DESIGNATE SIGNATORY AUTHORITY THEREON. Form 990, Part VI, Sec A, Line 2, Family/business relationships amongst interested persons KENT A. ESTEP AND CHRISTOPHER M. WEGHORST - FAMILY RELATIONSHIP Form 990, Part VI, Sec B, Line 11b, Review of form 990 by governing body A COPY OF THE FINAL FORM 990 AND SUPPLEMENTAL SCHEDULES WAS PROVIDED TO ALL THE MEMBERS OF THE GOVERNING BOARD SHORTLY AFTER FILING WITH THE IRS. FORM 990, PART VI, LINE 12C, MONITOR AND ENFORCE CONFLICT OF INTEREST POLICY AS THE CONFLICT OF INTEREST POLICY WAS RECENTLY DEVELOPED DURING THE FISCAL YEAR, THE ORGANIZATION IS STILL DEVELOPING PROCEDURES TO REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE POLICY. Form 990, Part VI, Sec B, Line 15a, Process to establish compensation of top management official THE UNIVERSITY'S GOVERNING BODY HAS AN INDEPENDENT EXECUTIVE COMMITTEE THAT REVIEWS THE COMPENSATION FOR THE PRESIDENT ON AN ANNUAL BASIS CONSIDERING FACTORS SUCH AS PERFORMANCE AND COMPARABILITY WITH INSTITUTIONS OF SIMILAR SIZE AND MISSION. SUCH DELIBERATIONS ARE DOCUMENTED IN THE MINUTES OF THE COMMITTEE. THE PRESIDENT'S COMPENSATION WAS ESTABLISHED UNDER A WRITTEN EMPLOYMENT CONTRACT, WHICH PROVIDES INCREMENTAL ADJUSTMENTS BASED ON THE PERCENTAGE CHANGE IN THE NATIONWIDE CONSUMER PRICE INDEX. AS A MATTER OF POLICY, SUCH ADJUSTMENT SHALL BE INCLUDED IN THE PRESIDENT'S SALARY WITHOUT SPECIFIC ACTION BY THE BOARD OF TRUSTEES, THOUGH THE BOARD MAY ELECT TO SUSPEND OR AMEND THE LEVEL OF COST-OF-LIVING ADJUSTMENT IN YEARS WHEN IT IS DEEMED TO BE OF FINANCIAL NECESSITY. THE REVIEW WAS LAST DONE OCTOBER 2012. Form 990, Part VI, Sec C, Line 19, Required documents available to the public FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE CURRENTLY AVAILABLE UPON REQUEST TO ENTITIES DETERMINED BY MANAGEMENT TO HAVE A LEGITIMATE INTEREST. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN (D), COMPENSATION OF OFFICERS, DIRECTORS, ETC. COMPENSATION PAID TO TRUSTEES PAUL A. WHITEFORD, DAVID P. JOHNSTON, DOUGLAS VANNEST, GEOFF KUNSELMAN, SAMUAL S. BARBER AND JOSEPHUS FOSTER WAS PROVIDED IN EXCHANGE FOR SERVICES AS ADJUNCT FACULTY MEMBERS OR SPEAKING AT UNIVERSITY EVENTS. THESE PERSONS ARE NOT COMPENSATED IN THEIR POSITION AS TRUSTEES. Form 990 , Part XI, Line 9, Other changes in net assets or fund balances GAIN ON POSTRETIREMENT BENEFIT RELATED CHANGES - 379565; GAIN ON CHANGE IN SPLIT-INTEREST AGREEMENTS - 118341; UNCOLLECTIBLE STUDENT RECEIVABLES - -121036; MOUNT VERNON NAZARENE UNIVERSITY FOUNDATION 800 MARTINSBURG ROAD MOUNT VERNON OH 43050 311398494 FUND MGMT (INACTIVE) OH 501(C)(3) 11 - Type I NA false false false false false false false false false false false false false false false false false false false false