2014-05-14T09:39:12-05:00 2013-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2012-07-01 580566167 THE CORPORATION OF MERCER UNIVERSITY % WILLIAM G SOLOMON CORP 4573012710 1400 COLEMAN AVENUE Suite MACON GA 31207 DR JAMES NETHERTON 4573012710 2014-05-12 true 3362753394 2012 2015-11-30 17:44:51Z William D Underwood 1400 COLEMAN AVENUE MACON GA 31207 314555441 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. 59 57 3975 640 -10162 -14537 65739531 65808637 203992496 218116240 5222448 6295741 6493505 7488576 281447980 297709194 54417926 57778784 0 0 141180007 145588139 0 0 2599847 79079698 85949985 274677631 289316908 6770349 8392286 514650059 547249532 243807999 251644573 270842060 295604959 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 91365636 INSTRUCTION: THE UNIVERSITY HAS 11 COLLEGES AND SCHOOLS. THESE EXPENSES ARE RELATED TO THE DIRECT INSTRUCTION OR TEACHING OF HIGHER EDUCATION. THE UNIVERSITY'S BOARD HAS APPROVED THE ADDITION OF A NEW COLLEGE, TO BE CALLED THE COLLEGE OF HEALTH PROFESSIONS. 55357908 55357908 Scholarship: The University has 11 colleges and schools. These expenses are related to the support provided to the students based on donor stipulation, need, and merit. 24510251 Academic Support: These expenses include providing library services and academic program development to the Provost and Deans of each college. 27134018 2420876 Research 34851153 Auxillary Services 25112905 Student Services 6613111 Public Services 585809 Other 94296996 2420876 265530791 true true false true false false true false false true true true false false true true false true true false true false false false true false false true true true true false false false false false false false false false true true false false false true true false false false true 715 1 true 3975 true true true false false false false true true false false false false false X 59 57 true false false false false false false true true false false true true true true true true true true false GA X WILLIAM G SOLOMON 4783012771 1400 COLEMAN AVENUE MACON GA 31207 WILLIAM DAVID UNDERWOOD 55.0 X X 343291 0 37168 CATHY C ADAMS 1.0 X CURTIS G ANDERSON 1.0 X WILLIAM H ANDERSON II 1.0 X KELLIE R APPEL 1.0 X DONALD E BAXTER 1.0 X GUS H BELL III 1.0 X BARBARA BAUGH 1.0 X JAMES A BISHOP 1.0 X THOMAS P BISHOP 1.0 X THOMAS B BLACK 1.0 X MALCOLM S BURGESS JR 1.0 X G MARSHALL BUTLER 1.0 X NEVILLE CALLAM 1.0 X PRESIDENT JIMMY CARTER 1.0 X WILLIAM L COATES 1.0 X JOHN W COLLIER 1.0 X JAMES H COWART 1.0 X T MICHAEL CROOK 1.0 X MILTON L CRUZ 1.0 X DWIGHT J DAVIS 1.0 X C GREG DELOACH III 1.0 X W HOMER DRAKE JR 1.0 X JAMES C ELDER JR 1.0 X LINDA W EYDT 1.0 X WILLIAM A FICKLING KR 1.0 X C BRUCE GORDY 1.0 X NANCY A GRACE 1.0 X BENJAMIN W GRIFFITH III 1.0 X WM ANDREW HAGGARD 1.0 X ROBERT F HATCHER SR 1.0 X N DUDLEY HORTON JR 1.0 X DAVID E HUDSON 1.0 X W MANSFIELD JENNINGS 1.0 X FRANK C JONES 1.0 X HOLLY MCCORKLE JONES 1.0 X CLAUDE M KICKLIGHTER 1.0 X SPENCER B KING III 1.0 X J CURTIS LEWIS III 1.0 X DAVID E LINCH 1.0 X THOMAS WILLIAM MALONE 1.0 X CAROLYN TOWNSEND MCAFEE 1.0 X JAMES THOMAS MCAFEE III 1.0 X M YVETTE MILLER 1.0 X SAM MITCHELL 1.0 X W ANTHONY MOYE 1.0 X J REG MURPHY 1.0 X M DIANE OWENS 1.0 X JULIE PENNINGTON-RUSSELL 1.0 X L RICHARD PLUNKETT JR 1.0 X MILLER PETERSON ROBINSON 1.0 X W LOUIS SANDS 1.0 X RICHARD A SCHNEIDER 1.0 X WILLIAM L SELF 1.0 X ROBERT L STEED 1.0 X JACKSON P TURNER JR 1.0 X RAYMOND M WARREN III 1.0 X HOWELL L WATKINS II 1.0 X JERRY S WILSON JR 1.0 X WILLIAM G SOLOMON IV 55.0 X 210496 33381 JAMES SIDNEY NETHERTON 55.0 X 276286 37084 JULIA TRAVIS DAVIS 55.0 X 134250 15329 DAVID SCOTT DAVIS 55.0 X 269674 37056 PENNY LORAINE ELKINS 55.0 X 232623 35314 RICHARD V SWINDLE 55.0 X 220239 34825 DAVID TAYLOR BARWICK 55.0 X 234723 36565 WILLIAM F BINA 55.0 X 347341 37523 LARRY D BRUMLEY 55.0 X 202932 32510 HEWITT MATTHEWS 55.0 X 255347 36987 JOHN A PATTERSON 55.0 X 191124 31656 THOMAS PHILIP MALAN JR 55.0 X 299198 11841 JOHN A HUDSON 55.0 X 585479 33772 JOHN CHARLES HAWKINS 55.0 X 1057027 12253 AHMED I SHAH 55.0 X 508230 17647 JEFFREY L STEPHENS 55.0 X 320196 29094 RICHARD H SNYDER 55.0 X 291345 0 25904 5979801 0 535909 227 false true false SHERIDAN CO PO BOX 4441 MACON GA 31208 CONTRACTOR 12629028 ARAMARK SERVICES INC 1400 COLEMAN AVENUE MACON GA 31207 FOOD SERVICES 5173295 GEORGIA POWER 96 ANNEX ATLANTA GA 30396 UTILITIES 3149098 NATIONAL MANAGEMENT SERVICES PO BOX 1224 LAGRANGE GA 30241 CUSTODIAL SERVICES 3020660 CONDITONED AIR PO BOX 4023 MACON GA 31208 HVAC SERVICES 1666960 117 40449 49291196 16476992 855945 65808637 TUITION AND FEES 900099 190965388 190965388 AUXILIARY SERVICES 900099 27150852 27150852 218116240 5096189 -10162 5106351 472 472 0 368968 317710 51258 0 51258 51258 16795707 1114 15597741 1197966 1114 1199080 1199080 80515 40449 121987 -41472 -41472 0 621360 808809 -187449 -187449 MISCELLANEOUS 900099 7666239 7666239 7666239 297709194 225782479 -10162 6128240 2420876 2420876 55357908 55357908 0 0 3556031 1821222 1519891 214918 0 112580452 103605740 7789710 1185002 6613803 6389136 129168 95499 16608986 16044788 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295604959 514650059 547249532 X 8392286 12340849 4029764 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true 97225 false false true 154483 false false 251708 false false Lobbying Expenses Schedule C, Part II-B, Line 1 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 STAFFPERSON WORKED TO SECURE STATE APPROPRIATIONS. X 2 1 1 1 false 24.00 480 true 191665145 5496176 16998134 5873311 208286144 196964111 2766514 -6964252 1101228 191665145 160222432 6838374 34868885 4965580 196964111 147597621 4872271 12388627 4636087 160222432 191395824 8282060 -46204929 5875334 147597621 0.10732 0.89268 false false 15890919 15890919 326445409 137292987 189152422 19977788 12071776 7906012 94966933 65657099 29309834 3702726 3702726 245961913 PERPETUAL TRUSTS 59024984 F HEDGED EQUITY FUNDS 26873723 F REAL ASSET FUNDS 18441013 F PRIVATE EQUITY FUNDS 10737394 F REMAINDER INTEREST TRUST 7035479 F MISCELLANEOUS INVESTMENTS 9708709 F CASH AND CASH EQUIVALENTS 2039202 F 133860504 0 ADVANCES FROM FEDERAL GOVERNMENT 17195009 ASSET RETIREMENT OBLIGATION 5555787 INTEREST RATE SWAP 4084696 ANNUITY OBLIGATIONS 3650328 POST RETIREMENT BENEFITS 1278833 CAPITAL LEASES OBLIGATIONS 1276154 33040807 X 258721899 12340849 4860322 17201171 241520728 56188466 56188466 297709194 233959000 233959000 55357908 55357908 289316908 Conservation Easements Schedule D, Part II, Line 9 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, 2013. Endowment Funds Schedule D, Part V, Line 4 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 Internal Revenue Code (the Code) as an organization described in Section 501 (c)(3) whereby only unrelated business income, as defined by Section 5 12(a)(I) of 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 2013 or 2012. 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 1,726,809 Change in Beneficial Interest in Perpetual Trusts 3,133,513 ------------ Total 4,860,322 Schedule D, Part XI, Line 4b Amounts Included on Form 990, Part VIII, Line 12 but not on line 1 Student Assistance Reclass 55,357,908 Change in Value of Split-Interest Agreements 830,558 ------------ Total 56,188,466 Schedule D, Part XII, Line 4b Amounts Included on Form 990, Part VIII, Line 25 but not on line 1 Student Assistance Reclass 55,357,908 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 Middle East and North Africa Program Services Study Abroad South America Program Services Study Abroad South Asia Program Services Study Abroad Sub-Saharan Africa Program Services Study Abroad true false false false false false ATHLETIC RAFFLE 36000 36000 12750 23719 AUTHOR'S LUNCH 40715 34955 5760 40714 3 44248 5493 38755 44804 120963 40448 80515 12750 109237 121987 -41472 true ADVANCED COMPLIANCE SOLUTIONS INC 5015 B U BOWMAN DR BUFORD GA 30518 582608642 16000 n/a n/a CONSULTING SERVICES ANDROMEDA SYSTEMS INC 2233 PARK AVE STE 203 ORANGE PARK FL 32073 203595072 43962 n/a n/a ENGINEERING SERVICES ANMED HEALTH 800 NORTH FANT ST ANDERSON SC 29621 570359174 501(C)(3) 29221 n/a n/a BELLWETHER INC PO BOX 190 MCDONOUGH GA 30253 581273169 27181 n/a n/a FABRICATION SERVICES DUBLIN ORTHOPEDICS & REHAB PO BOX 368 DUBLIN GA 31040 581707928 5900 n/a n/a MEDICAL CONSULTING GEORGIA HEALTH SCIENCES UNIVERSITY PO BOX 945552 ATLANTA GA 30394 586002052 GOVT 16981 n/a n/a HONEYWELL 13478 DANIELSON ST POWAY CA 92064 337567 n/a n/a ENGINEERING SERVICES L & G TECHNOLOGY SERVICES 300 NW INDUSTRIAL BLVD MACON GA 31216 043767246 11663 n/a n/a PAINTING SERVICES PERFECT EDGE 4264 F WINTERS CHAPEL RD DORAVILLE GA 30360 300659033 9100 n/a n/a FABRICATION SERVICES PI-TECH INC PO BOX 6631 MACON GA 31208 582354718 18992 N/A N/A ENGINEERING SERVICES POLYTRONIX 805 ALPHA DR RICHARDSON TX 75081 200440938 92180 N/A N/A ENGINEERING SERVICES PRECISION STANDARD 721 E SARATOGA FERNDALE MI 48220 382246419 138389 N/A N/A FABRICATION SERVICES PRINCE PRECISION PRODUCTS LLC 6600 HAWKINSVILLE RD MACON GA 31216 208219117 13873 N/A N/A FABRICATION SERVICES QTEC INC 700 BOULEVARD SOUTH HUNTSVILLE AL 35802 630972823 453213 N/A N/A ENGINEERING SERVICES QUALTEST INC 5325 OLD WINTER GARDEN RD ORLANDO FL 32811 592690412 9135 N/A N/A TESTING SERVICES ROCKWELL AUTOMATION 504 BEAVER ST SEWICKLEY PA 15143 251797617 8400 N/A N/A SOFTWARE MAINTENANCE UNIVERSITY OF CONNECTICUT HEALTH CENTER 263 FARMINGTON AVE FARMINGTON CT 06030 521725543 GOVT 108178 N/A N/A UNIVERSITY OF TEXAS AT AUSTIN PO BOX 7159 AUSTIN TX 78713 746000203 GOVT 16082 N/A N/A WAKE FOREST UNIVERSITY MEDICAL CENTER BLVD WINSTONSALEM NC 27157 560532136 501(c)(3) 76497 N/A N/A WAYNE STATE UNIVERSITY PO BOX 02788 DETROIT MI 48202 383555142 Govt 106078 N/A N/A WEST COBB ENGINEERING & TOOL CO 7267 HIRAM DOUGLASVILLE HWY DOUGLASVILLE GA 30134 582242074 10170 N/A N/A FABRICATION SERVICES WILLBROOK SOLUTIONS INC 4811-A BRADFORD DR HUNTSVILLE AL 35805 205868013 872116 N/A N/A ENGINEERING SERVICES 6 16 STUDENT FINANCIAL AID ASSISTANCE 4294 55357908 n/a n/a Monitoring Use of Grants Schedule I, Part I, Line 2 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 WILLIAM DAVID UNDERWOOD 343291 0 0 0 0 0 24827 0 12341 0 380459 0 0 0 WILLIAM G SOLOMON IV 210496 0 0 21640 11741 243877 0 JAMES SIDNEY NETHERTON 276286 0 0 25000 12084 313370 0 DAVID TAYLOR BARWICK 234723 0 0 24500 12065 271288 0 WILLIAM F BINA 347341 0 0 25000 12523 384864 0 LARRY D BRUMLEY 202932 0 0 20894 11616 235442 0 DAVID SCOTT DAVIS 269674 0 0 25000 12056 306730 0 PENNY LORAINE ELKINS 232623 0 0 23530 11784 267937 0 HEWITT MATTHEWS 255347 0 0 25000 11987 292334 0 RICHARD V SWINDLE 220239 0 0 23000 11825 255064 0 JOHN A HUDSON 585479 0 0 22010 11762 619251 0 JOHN A PATTERSON 191124 0 0 20087 11569 222780 0 JOHN CHARLES HAWKINS 1057027 0 0 0 12253 1069280 0 AHMED I SHAH 508230 0 0 5813 11834 525877 0 JEFFREY L STEPHENS 320196 0 0 17625 11469 349290 0 THOMAS PHILIP MALAN JR 299198 0 0 0 11841 311039 0 RICHARD H SNYDER 291345 0 0 0 0 0 13500 0 12404 0 317249 0 0 0 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 74265LTG3 2006-05-19 22040000 FINANCE CAPITAL IMRPOVEMENTS false false false B PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LYJ7 2006-05-19 26150000 REFUNDING SERIES 2001 false false false C PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LYG7 2011-10-19 20000000 SEE SUPPLEMENTAL INFORMATION false false false D PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LYV4 2012-02-16 81211311 REFUNDING SERIES 1999A & 2003 false false false A 6705000 0 22040000 2000000 0 0 400665 139335 0 19500000 0 0 2011 false false true true B 855000 0 26150000 0 0 25577910 406772 165318 0 0 0 0 2016 false true true true C 0 0 20000000 0 0 0 361480 247550 0 19390970 0 0 false false false true D 0 0 81211311 0 0 0 0 0 0 0 81211311 0 2005 true false true true A false false false false true 0 false false false true B false false false false true 0 false false false true C false false false false true 0 false false false true D false false false false 0 false false false true A true true false 0 true SOCIETE GENERALE 30.3 true false true B false true true LEHMAN BROTHERS 10.5 false false false 0 true false C false true false 0 false 0 false true D false false false 0 false 0 false true A false B false C false D false DESCRIPTION OF PURPOSE FORM 990, SCHEDULE K, PART I, LINE C PURPOSE OF 2011 BOND ISSUED BY PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY WAS FOR THE FOOTBALL STADIUM, WELCOME CENTER, DOUGLAS COUNTY BUILDING, AND CERTAIN COSTS OF ISSUANCE. A PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LZJ0 2012-05-15 34448050 PURCHASE MERCER HOUSING CORPORATIO false false false B PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 2013-05-30 70350273 REFUNDING SERIES 2006A, 2006C & 20 false false false A 0 0 34448050 0 0 0 454670 0 0 27286983 6706397 0 2012 true false false true B 0 0 70350273 0 0 0 290049 0 0 12000000 58060224 0 2013 true false true true A false false false false false 0 false false false true B false false false false 0 false false false true A false true false false 0 false 0 false true B false true true true 1271 COUNTERPARTY CO 3.5 false false false 0 false true A false B 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 KING SPALDING 3 PTRS ON BOARD OF DIR 27701 LEGAL SERVICES false X 9 745 FMV X 35826 FMV X 155 FMV X 23 855945 FMV X 8 3480 FMV X 2 850 FMV X MISCELLANEOUS 114 76182 FMV 5 false true false Voting Board Members Form 990, Part VI, Section A, Line 1a 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, and no more than ten (10) Life Trustees who serve for life. Currently, there are four (4) 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. Independent Board Members Form 990, Part VI, Section A, Line 1b 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." Family and Business Relationship Form 990, Part VI, Section A, Line 2 Members of the Board of Trustees Carolyn T. McAfee and J. Thomas McAfee III have a family relationship (mother and son). Members of the Board of Trustees David E. Linch and Nancy A. Grace have a family relationship (husband and wife). 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. REVIEW OF 990 Form 990, Part VI, Section B, Line 11B 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. Monitor and Enforce Compliance with Written Conflict of Interest Policy form 990, part vi, section b, line 12c At each annual meeting of the Board of Trustees, each Trustee, officer, and key employee of the University is required to (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 2 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. DETERMINING COMPENSATION Form 990, Part VI, Section B, Line 15a & 15B 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. Making Governing Documents, Conflict of Interest Policy, and Financial Statements Available to the Public. FORM 990, PART VI, SECTION C, LINE 19 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). OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 CHANGE IN FV OF SPLIT INTEREST 830,558 CHANGE IN FV OF INTEREST RATE SWAP (1,726,809) CHANGE IN VALUE OF BENEFICIAL TRUSTS (3,133,513) ------------ TOTAL (4,029,764) Mercer Medicine LLC 1400 Coleman Avenue Macon GA 31207 204846017 Practice Plan GA 0 0 na Abram properties LLC 1400 Coleman Avenue Macon GA 31207 580566167 Property Inv GA 0 0 na Aliel Park Investments LLC 1400 Coleman Avenue Macon GA 31207 580566167 property Inv GA 0 0 na Preschool Properties LLC 1400 Coleman Avenue Macon GA 31207 580566167 Property Inv GA 0 0 na Emery Hawkins LLC 1400 Coleman Avenue Macon GA 31207 580566167 Property Inv GA 0 0 na Noco Holdings Limited Company 1400 Coleman Avenue Macon GA 31207 261955280 property inv GA 0 0 na Center for Health and Learning Inc 3001 MERCER UNIVERSITY DRIVE ATLANTA GA 30341 262442849 healthcare GA 501(c)(3) 11 na false CHARITABLE REMAINDER UNITRUSTS (16) 1400 COLEMAN AVENUE MACON GA 31207 CHAR TRUST GA MERCER UNIV TRUST CHARITABLE REMAINDER ANNUITY TRUSTS (8) 1400 COLEMAN AVENUE MACON GA 31207 CHAR TRUST GA MERCER UNIV TRUST CHARITABLE REMAINDER TRUSTS (3) 1400 COLEMAN AVENUE MACON GA 31207 CHAR TRUST GA MERCER UNIV TRUST false false false false false false false false false false false false true true true false false false