2013-01-14T14:01:40-06:00 2012-05-31 363990892 Capin Crouse LLP 972 Emerson Parkway Ste A Greenwood IN 46143 990 2011-06-01 350868181 Taylor University TAYL 7659984634 236 West Reade Avenue Upland IN 469891001 Stephen Olson 7659984634 2013-01-14 1 David C Moja P00747006 3178852620 2011 2016-02-25 16:41:14Z Eugene B Habecker 236 West Reade Avenue Upland IN 469891001 96936580 0 X www.taylor.edu X 1846 IN Develop servant leaders to minister Christ's redemptive love and truth to a world in need 24 22 2215 128 0 0 13436151 12956995 68906828 68912584 3521203 3222543 3059 -3771 85867241 85088351 15234816 15844528 0 0 33819063 34544556 14637 62624 2670294 29391481 26664879 78459997 77116587 7407244 7971764 202878797 215663225 37588208 46711266 165290589 168951959 X The mission of Taylor University is to develop servant leaders marked with a passion to minister Christ's redemptive love and truth to a world in need. 0 0 67094806 15844528 68912584 In order to advance our mission, Taylor University is committed to the following purposes:-To provide whole person education, involving students in learning experiences imbued with a vital Christian interpretation of truth and life which foster their intellectual, emotional, physical, vocational, social, and spiritual development.-To offer liberal arts, professional and life-long education based upon the conviction that all truth has its source in God, and that being Biblically anchored, the Christian faith should permeate all learning leading to a consistent life of worship, servant leadership, stewardship, and world outreach.-To create specific experiences wherein the integrative focus of a Christian liberal arts education is clarified, personalized, and applied.-To contribute to the advancement of human knowledge and understanding and serve the evangelical Christian church and the larger (public) community for the glory of God.-To foster a biblical model of relationships that acknowledges both unity and diversity of the followers of Christ within a covenant community and which can be evidenced in a continuing lifestyle of service to and concern for others-To foster and maintain appropriate and effective support services that enable maximum program effectiveness throughout the universityAt Taylor University we are actively seeking students who possess exceptional academic preparation and are ready to contribute to our robust learning community. This year's incoming freshman class had an average GPA of 3.71 and an ACT of 27. At Taylor University we will work hard to provide the people, the services, the tools, and the environment - in general, the resources - to help students successfully pursue their calling.These outstanding students help us get noticed. Taylor University, year after year, continues to receive recognition at the very highest levels in the various college and university rankings. For the sixth straight year, Taylor University received the ranking of #1 in the category Regional Colleges-Midwest from U.S. News & World Report. Taylor was the only Indiana-based school to achieve a number one university-wide ranking. Additionally, Taylor was the only Council for Christian Colleges and Universities (CCCU) member institution to achieve a number one ranking - regionally or nationally. Taylor was also highly ranked by The Princeton Review and Forbes. Open Doors ranks Taylor 7th among the nation's baccalaureate institutions for undergraduate participation rate in study abroad programs and ranks Taylor 6th among baccalaureates nationally for the actual number of undergraduate students particpating. Each of the publications measured criteria that cited the academic excellence of Taylor's faculty and students, the satisfaction and retention of students (freshman retention 88%, average graduation rate 77%), the percentage of students studying abroad, and the investment made by alumni.Focus on International Study527 students earned academic credit while participating in over 35 programs, in 40 countries. Students also earned credit in service learning or cross cultural programs as short-term missionaries to U.S. cities. Taylor University also has a student exchange agreement with a university in South Korea that provides the opportunity for a limited number of students from each institution to spend one semester as a guest student on the other's campus. This program promotes cross-cultural understanding as well as offering a full semester of college credit. 67094806 1 1 0 0 0 0 1 1 0 1 1 0 0 1 1 0 0 1 1 1 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 1 4075 0 1 2215 1 0 1 EI 0 0 0 0 0 0 0 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X Stephen Olson VP for Finance 7659984634 236 West Reade Avenue Upland IN 469891001 Eugene Habecker 60.00 X X 216199 0 51542 Mark Taylor 6.00 X X 0 0 0 Wellington Chiu 6.00 X X 0 0 0 Stephen Johnson 2.00 X X 0 0 0 Ken Flanigan 2.00 X X 0 0 0 Jonathon Beukelman 2.00 X 0 0 0 James Blum 2.00 X 0 0 0 R David Boyer 2.00 X 0 0 0 Paige Cunningham 2.00 X 0 0 0 Barbara Dickinson 2.00 X 0 0 0 Chris Goeglein 2.00 X 0 0 0 Richard Gygi 2.00 X 0 0 0 Paul Lowell Haines 2.00 X 0 0 0 Rhonda Jeter-Twilley 2.00 X 0 0 0 Susan McCabe 2.00 X 0 0 0 Gregory Poland 2.00 X 0 0 0 Manuel Rosado 2.00 X 0 0 0 Dougla Rupps 2.00 X 0 0 0 Mark Soderquist 2.00 X 0 0 0 Kathy Stevens 2.00 X 0 0 0 Karen Thomas 2.00 X 0 0 0 Steven Whiteman 2.00 X 0 0 0 Shani Wilfred 2.00 X 0 0 0 Dan Wolgemuth 2.00 X 0 0 0 Stephen Olson 50.00 X 75987 0 22791 Ronald Sutherland 50.00 X 118611 0 27839 Ben Sells 50.00 X 122707 0 28151 Stephen Bedi 50.00 X 135280 0 29372 668784 0 159695 4 0 1 0 Guepel DeMars Hagerman LLC 10315 Allisonville Road Fishers IN 46038 Construction Services 8666302 Creative Dining Services One Royal Park Drive Zeeland MI 49464 Food Service 1945425 Michael Kinder & Sons Inc 5206 Decatur Road Fort Wayne IN 46806 Construction Services 1836468 ESCO Communications Inc 7506 Honeywell Dr Fort Wayne IN 46206 Elec. Media Svcs 407807 Communications Wiring Specialists Inc PO Box 252 Ligonier IN 46767 Electrical Svcs 313840 45 7000 572327 12377668 312541 12956995 Tuition and fees 900099 53245080 53245080 Dormitory fees 721310 6173551 6173551 Food services 721310 6010571 6010571 Bookstore revenue 451211 951492 951492 Conference fees 900099 273292 273292 2258598 2258598 68912584 2446952 2446952 11961430 648264 11764945 69158 196485 579106 775591 775591 10355 7000 14126 -3771 -3771 85088351 68912584 0 3218772 52497 52497 15792031 15792031 380841 312760 49453 18628 159119 130674 20662 7783 23340885 19168320 3030876 1141689 2158988 1773034 280350 105604 6871574 5643168 892292 336114 1633149 1341197 212069 79883 350511 287851 45515 17145 235926 193750 30636 11540 87353 71737 11343 4273 62624 62624 374023 374023 1489448 1223185 193409 72854 228936 188010 29728 11198 629765 517184 81777 30804 948462 778909 123160 46393 1616781 1327755 209943 79083 1528297 1255089 198453 74755 941498 784791 124090 32617 1389000 1389000 4156613 3413551 539747 203315 684608 562223 88898 33487 Food service cost 4315395 4315395 Program expenses 2234975 2234975 Operating supplies 659609 541693 85652 32264 Bookstore materials 655337 655337 4138342 3140690 729411 268241 77116587 67094806 7351487 2670294 9848417 8605924 4436513 4309207 3584287 3378866 509365 428250 521205 499397 571885 579251 140842660 49142119 75706575 91700541 97159550 96423478 15500 10525500 9738311 202878797 215663225 8931593 7851827 391327 662322 20140000 29841073 8125288 8356044 37588208 46711266 X 84444444 90477419 26562762 23709015 54283383 54765525 165290589 168951959 202878797 215663225 X 7971764 -4310394 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 89.19 1 0 383000 X X X X 0 71098560 1491311 -2219439 1585399 2944016 236013 65605004 62356894 1161075 10892678 1512756 1487855 311576 71098460 56730502 1172997 7955522 1532917 1556184 413026 62356894 69824024 1401000 -11940249 1153281 961992 439000 56730502 0.14000 0.86000 0.00000 1 0 2235000 2235000 85303000 35677000 49626000 91119 -91119 15384000 10356000 5028000 37920660 3018000 34902660 91700541 Student loan fund/health insurance trust 2382004 Other liabilities 2312315 TU Health Plan Trust 3661725 8356044 85088351 77116587 7971764 -4021494 -288900 -4310394 3661370 64819029 -4021494 -95900 -4117394 68936423 374023 15777905 16151928 85088351 60868759 14126 14126 60854633 374023 15887931 16261954 77116587 Explanation of Changes to Conservation Easements: Part II, Line 3: There was no current year activity related to the easement held by the University. The value of this property is carried on the balance sheet at its historical value. Part III, Line 4: The Edwin W. Brown Collection includes first English and American editions of books authored, edited, or with prefaces by C. S. Lewis, published essays and lectures of C. S. Lewis, two Lewis manuscripts, and books about C. S. Lewis, as well as first and reprint editions of George MacDonald and first editions of Charles Williams, Dorothy L. Sayers, and Owen Barfield. It also contains several manuscripts, letters, contracts, and photographs. The collection is more valuable in its entirety than the individual parts alone. In addition, it provides enhanced educational opportunities for students and faculty at Taylor University. The cultural, literary and religious aims of the collection can be expanded through the educational curriculum offerings of lectures and seminars. In fact, Taylor University will have the potential to reach beyond the literary collection and bring C. S. Lewis scholars to the campus Description of Intended Use of Endowment Funds: Part V, Line 4: The university's endowment consists of approximately 456 individual funds established for the following purposes: 51% of Taylor's endowments are used for student scholarships. During the 2011-2012 academic year 574 students received scholarships from donor-based endowed scholarship funds. These awards are given in recognition of academic ability, extracurricular activities, and/or financial need. 29% of the endowed funds are for specific program support. These include funds that support academic chairs, centres such as the Center for Teaching and Learning Excellence, and the Spencer Centre for Global Engagement, and various other athletic, academic and student development programs. 13% support facilities on campus. These include funds to help cover costs such as maintance, utilities, and debt service of buildings. 7% support Taylor's general operations. A majority of Taylor's endowed funds have been established to honor or memorialize family members, friends or mentors by naming the fund for them. Part XI, Line 8 - Other Adjustments: Interest Rate Swap - Change In Value -288,900. Part XII, Line 2d - Other Adjustments: Payments to Annuitants included on 990 Part IX -95,900. Part XII, Line 4b - Other Adjustments: Financial aid netted against tuition revenue per books 15,792,031. Special FR Event Direct Expenses -14,126. Part XIII, Line 2d - Other Adjustments: Special FR Event Direct Expenses 14,126. Part XIII, Line 4b - Other Adjustments: Financial aid netted against tuition revenue per books 15,792,031. Payments to Annuitants included on 990 Part IX 95,900. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 Nondiscrimination policies are included in all materials available to the public. Explanation of Government Financial Assistance Schedule E, Part I, Line 6 Taylor University receives assistance and grants from the following federal programs: Perkins, Academic Competitiveness Grant, S.M.A.R.T. Grant, SEOG, Pell and work study. East Asia and the Pacific - 0 0 Program Services Off-Campus Studies Programs 111851 Europe (Including Iceland & Greenland) - 1 2 Program Services Off-Campus Studies Programs 1019431 Middle East and North Africa - 0 0 Program Services Off-Campus Studies Programs 118348 South America - Argentina, Bolivia, 0 0 Program Services Off-Campus Studies Programs 265939 Sub-Saharan Africa - Angola, 0 0 Program Services Off-Campus studies programs 21200 1 2 0 0 1 2 1536769 0 1536769 0 0 0 0 0 0 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: Each year, hundreds of students participate in a variety of international study programs from one-week spring break trips to semester-long exchanges with partner universities on all continents. All of these activities are for academic credit and contribute to the graduation requirements of the students. The University operates its own program through leased facilities in Ireland, and maintains a year-round program in Ecuador. All other programming is contracted through partner organizations on an as needed basis. These foreign expenditures are accounted for according to the accrual basis of accounting using expense reports and other appropriate documentation. X X X X X X 1 Langley Innovations 10958 Bloomingdale Drivew Rockville MD 20852 Consulting 0 0 62624 -62624 62624 -62624 AL AK AZ AR CA CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MN MI MS MO NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY Golf Tournament 17355 7000 10355 1480 12646 17355 7000 10355 1480 12646 14126 -3771 1 Remedy FM 327 E Wayne St Fort Wayne IN 46802 272417633 501(c)(3) 51672 Program Support Student financial aid Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: GRANTS TO OTHER ORGANIZATIONS Taylor University (University) monitors the use of funds granted to other non-profit organizations through long-standing relationships and common board members/employees. The University Provost is a board member of the Community Foundation of Grant County Indiana and he monitored the use of granted funds while serving in that capacity. The University shares several board members with William Taylor Foundation and the University also monitors the use of granted funds while providing accounting services for the Foundation. GRANTS TO INDIVIDUALS (SCHOLARSHIPS/FINANCIAL ASSISTANCE) The University provides financial assistance to students that submit a written application and meet the University's criteria for financial assistance. Applications are reviewed by the Financial Aid Department and/or scholarship committees, depending upon the particular terms of each scholarship. Awards are applied against a student's tuition due to the University. The University monitors each student to assure that he/she remains enrolled in school and continues to satisfy the criteria for his/her specific scholarship. If the student withdraws from the University, then any remaining funds are returned to the scholarship pool to be awarded to another student. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Eugene Habecker 207046 0 0 0 9153 0 25326 0 26216 0 267741 0 0 0 Ben Sells 118284 0 0 0 4423 0 14700 0 13451 0 150858 0 0 0 Stephen Bedi 128372 0 0 0 6908 0 15916 0 13456 0 164652 0 0 0 Part I, Line 1a Housing & personal services The University President lives in a residence that is located on the campus of the University. The President is required to live in the residence as a condition of his employment. The residence is furnished for the convenience of the University and the President regularly uses it to conduct University business. In addition, University staff clean the public areas of the residence and maintain the residence and its grounds. Supplemental Information Part III Non-taxable benefits reported in Schedule J, Part II, Column (D): Some of these amounts include tuition assistance (scholarships) provided to employees of Taylor University based on their employment with the school. Although non-taxable, these amounts are correctly reported as a benefit on 990 Part VII and Schedule J Part II. Town of Upland Indiana 356001216 915395CY1 2003-03-01 8825000 Kesler Student Activities Ctr 0 1 0 Town of Upland Indiana 356001216 915395DV6 2007-11-26 4315000 Student Residential Apartment Bdg 0 1 0 Town of Upland Indiana 356001216 2010-07-12 4760000 Wolgemuth Hall Apartment Bdg 0 1 0 Town of Upland Indiana 356001216 2011-07-07 9050000 Euler Science Complex 0 1 0 9016385 682243 160184 173956 8000000 2004 0 0 1 1 4758258 248577 1151364 91439 166877 3100000 2008 0 1 1 1 4760000 100000 42000 40505 4577495 2011 0 0 1 1 9050000 50000 9000000 2012 0 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 Regions 20.000000000000 0 0 0 0 0 0 1 1 Regions 20.000000000000 0 0 0 0 0 Various Scholarships/Tuition Discounts 47940 Marylou Habecker President's wife 36060 Employee Compensation 0 Ronald Korfmacher Trustee's Brother-in-law 70328 Employee Compensation 0 Megan Biehl Officer's Daughter 18231 Employee Compensation 0 X 18 312541 FMV-Similar Sales X Horses 5 Not determined 10 0 1 0 Method for Determining Number of Contributors: Part I, Column (b): The number of contributions reported on Schedule M is the number of contributions received, not the number of items contributed. Non Reporting of Revenue: Part I, Line 33: The live horses donated to the University were not assigned a value on the statement of activities. The University recorded these gifts with a one cent debit and credit to the same expense account only in order to produce a gift in kind (no value stated) receipt for the donor, Form 990, Part VI, Section B, line 11 The University's board of directors has delegated authority for the review of its Form 990 to the Audit Committee. The Audit Committee substantively reviewed the Form 990 prior to its filing. In addition, The University's independent CPA firm prepared the Form 990 and then reviewed it with the management team and with the audit committee. The University utilized this process to ensure that its Form 990 received substantive review by directors and professionals with specific knowledge of the University's activities and extensive financial, accounting and tax expertise. Form 990, Part VI, Section B, line 12c The University has adopted a Conflict of Interest Policy that requires directors, officers and key employees to submit an annual conflict of interest disclosure. The annual disclosure requires directors, officers and key employees to disclose, in writing, any known financial interest that the individual (together with family members) has in any business entity that transacts business with the University. In addition, directors, officers and key employees are required to immediately disclose any possible conflict of interest that arises mid-year in relation to a proposed transaction. The Conflict of Interest Policy requires that any individual with a conflict be recused from the decision making process, that independent directors or committee members determine that the proposed transaction is in the best interests of the University, and the transaction must be approved by a vote of the independent directors or committee members without the participation of any interested individual. The annual conflict disclosure statements are submitted to, and reviewed by, the Audit Committee, composed of independent outside directors. In addition, the executive staff is responsible for monitoring any possible conflict transactions that arise and managing them to ensure that all transactions represent arms' length, fair market value terms for the benefit of the University. Form 990, Part VI, Section B, line 15 The University has adopted an Executive Compensation and Intermediate Sanctions Policy that ensures that all compensation arrangements with related parties are evaluated and entered at arms' length and that any compensation that is paid to a related party is reasonable and reflects fair market value. The Policy encourages the application of the rebuttable presumption standard of Code Section 4958 and the related Treasury Regulations by (a) excluding any interested party from the decision making process; (b) requiring disinterested board or committee members to obtain and rely upon comparability data when setting the proposed compensation terms; (c) requiring approval of the transaction in advance by disinterested directors or committee members; and (d) requiring contemporaneous documentation (i.e., minutes) reflecting the decision and the process by which it was made. In the case of the President's compensation, the Executive Committee of the board of directors, composed entirely of independent outside directors, is responsible for ensuring that the process outlined above is applied. Form 990, Part VI, Section C, line 19 These are all available to the public upon request, either as a printed or electronic copy. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -4,021,494. Interest Rate Swap - Change In Value -288,900. Total to Form 990, Part XI, Line 5: -4,310,394. Explanation of Responsibility Form 990, Page 12, Part XI, Line 2c The organization has a committee that assumed responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year. Taylor Angel Fund LLC 236 West Read Ave Upland IN 46989 New business/research endeavors IN 0 0 N/A William Taylor Foundation 236 W Reade Ave Upland IN 46989 356047122 Support Taylor University IN 501(C)(3) Line 11a, I Taylor University 0 Taylor University Broadcasting Inc 1025 W Rudisill Blvd Fort Wayne IN 46807 351975367 Christian Broadcasting IN 501(C)(3) Line 11a, I Taylor University 0 0 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0