2012-12-19T13:29:35-06:00 2012-05-31 420714325 MCGLADREY LLP 111 ROUNDABOUT COURT ROCKY MOUNT NC 27804 990 2011-06-01 560554199 CHOWAN UNIVERSITY CHOW 2523986500 ONE UNIVERSITY PLACE MURFREESBORO NC 27855 DONNIE CLARY 2523986500 2012-12-19 1 JAMES W MATTHEWS JR P00173928 2524460111 2011 2016-02-24 21:20:13Z M CHRISTOPHER WHITE ONE UNIVERSITY PLACE MURFREESBORO NC 27855 40984441 0 X WWW.CHOWAN.EDU X 1849 NC PRIVATE HIGHER EDUCATIONAL INSTITUTION 39 36 768 5 2101 0 3544638 3192914 27733875 31947508 594099 651265 283898 270882 32156510 36062569 9260355 10593488 0 0 10127816 10821233 0 0 543472 8607848 9128478 27996019 30543199 4160491 5519370 48346253 51689534 6820112 6582209 41526141 45107325 X CHOWAN UNIVERSITY IS A COMPREHENSIVE COEDUCATIONAL INSTITUTION COMMITTED TO EXCELLENCE IN TEACHING, LEARNING, SCHOLARLY INQUIRY, AND SERVICE. THE UNIVERSITY PROVIDES THE ENVIRONMENT FOR STUDENTS TO BECOME LEARNERS WHO POSSESS THE SKILLS, KNOWLEDGE, CREATIVITY, AND ETHICAL VALUES NECESSARY TO SURVIVE AND FLOURISH IN A RAPIDLY-CHANGING, CULTURALLY DIVERSE, GLOBAL SOCIETY. CHOWAN UNIVERSITY, AS A CHURCH-RELATED INSTITUTION, WAS FOUNDED UPON AND IS DEDICATED TO JUDEO-CHRISTIAN VALUES. CONSISTENT WITH THIS HERITAGE, THE UNIVERSITY IS GUIDED BY THE HISTORIC PRINCIPLES OF RELIGIOUS AND INTELLECTUAL FREEDOM-ACADEMIC EXCELLENCE, THE DIGNITY AND WORTH OF EACH INDIVIDUAL, AN ATMOSPHERE OF OPEN DIALOGUE, FREEDOM OF INQUIRY AND EXPRESSION, AND A MORAL COMMITMENT TO THE PURSUIT OF TRUTH. 0 0 26289293 24875999 AN EDUCATIONAL INSTITUTION PROVIDING UNDERGRADUATE CURRICULUM AT THE COLLEGE LEVEL. OTHER EXPENSES ARE FOR STUDENT ROOM & BOARD AND ATHLETIC AND CULTURAL EVENTS. 26289293 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 38 0 1 768 1 1 1 0 0 0 0 0 0 0 0 0 X 39 36 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 X X DONNIE CLARY 2523986250 ONE UNIVERSITY PLACE MURFREESBORO NC 27855 KEMPER W BAKER 1.00 X 0 0 0 LYNETTE BUNCH 1.00 X 0 0 0 RAY FELTON 1.00 X 0 0 0 RAYMOND D MEIGGS 1.00 X 0 0 0 CHARLES B POND III 1.00 X 0 0 0 ELAINE E MYERS 1.00 X 0 0 0 HARVEY W REINHARDT 1.00 X 0 0 0 W FRANK ROSE JR 1.00 X 0 0 0 HUGH C VINCENT JR 1.00 X 0 0 0 AUSTINE O EVANS 1.00 X 0 0 0 BYNUM R BROWN 1.00 X 0 0 0 MARY ANNE CROOM 1.00 X 0 0 0 JEWELL FAYE GLOVER 1.00 X 0 0 0 W STEVE HAUSER 1.00 X 0 0 0 LAWRENCE P HOLLISTER 1.00 X 0 0 0 JAMES W MASON 1.00 X 0 0 0 JESSE E VAUGHAN 1.00 X 0 0 0 GARRY WHITAKER 1.00 X 0 0 0 RICHARD S WINSTEAD 1.00 X 0 0 0 E PRESTON GRISSOM 1.00 X 0 0 0 CECIL S HOLLOMON JR 1.00 X 0 0 0 JULIAN R MILLS SR 1.00 X 0 0 0 BARRY E WHITAKER 1.00 X 0 0 0 STANLEY E DIXON JR 1.00 X 0 0 0 BURKE E HOLLAND 1.00 X 0 0 0 MILEY W BUCKY GLOVER 1.00 X 0 0 0 JANE E NEWSOME 1.00 X 0 0 0 WAYNE R BROWN 1.00 X 0 0 0 BETTY R DUKE 1.00 X 0 0 0 MATTHEW B GLOVER 1.00 X 0 0 0 WJ BILL LITTLE JR 1.00 X 0 0 0 C PRESTON MCELHENEY III 1.00 X 0 0 0 CATHERINE E MOORE 1.00 X 0 0 0 ROBERT J PACIOCCO 1.00 X 0 0 0 ROBERT B SPIVEY 1.00 X 0 0 0 DEBORAH B VINSON 1.00 X 0 0 0 SENATOR EDWARD W JONES 1.00 X 0 0 0 RAYMOND LEE RICHARDS 1.00 X 0 0 0 LINDA B WEAVER 1.00 X 0 0 0 M CHRISTOPHER WHITE 40.00 X 265100 0 16276 DONNIE CLARY 50.00 X 157393 0 8445 CHARLES REVELL 5.00 X 33868 0 0 DANNY MOORE 50.00 X 120767 0 0 CHAD HOLT 50.00 X 105712 0 0 682840 0 24721 4 0 1 0 PIONEER SCHOOL CATERERS INC 303 GLENROSE AVENUE NASHVILLE TN 37210 FOOD SERVICE 1676414 CLIMATE MASTERS 790 PITTS CHAPEL RD ELIZABETH CITY NC 27909 BUILDING RENOVATIONS 1116138 B&M CONTRACTORS INC 790 PITTS CHAPEL RD ELIZABETH CITY NC 27909 BUILDING RENOVATIONS 672592 ARAMARK SERVICE MASTER PO BOX 33170 NEWARK NJ 07188 HOUSEKEEPING 473873 DAVID DRYE CONTRUCTION COMPANY 175 DAVIDSON HWY CONCORD NC 28027 APARTMENT CONSTRUCTION 465412 17 1544464 1648450 3192914 TUITION AND FEES 611710 24875999 24875999 AUXILIARY ENTERPRI 611710 7071509 7071509 31947508 495069 495069 23401 0 23401 23401 23401 5078068 4921872 156196 156196 156196 DUES 713940 2101 2101 245380 245380 247481 36062569 24875999 2101 7991555 10593488 10593488 682840 682840 8377410 6985232 1067163 325015 349320 280348 55919 13053 833404 601441 207646 24317 578259 465404 91186 21669 33948 33948 79705 79705 101382 101382 113030 113030 11565 522 1527 9516 548756 480714 59992 8050 731066 731066 510207 444963 39219 26025 28760 28760 62458 57724 4734 1701244 1572290 128954 343952 90830 253122 FOOD SERVICES 1684217 1668720 2481 13016 PLANT OPERATIONS 1643660 1524739 118921 REPAIRS & MAINTENANCE 917481 695149 222332 INTERNAL SERVICES 493916 495119 -48273 47070 123131 -511486 578876 55741 30543199 26289293 3710434 543472 3700621 1126633 2393815 4961197 80989 195908 271567 314199 488719 492557 24320 21304 107559 106303 48574242 26561197 16870890 22013045 21212600 19271442 2431399 2330664 763774 856282 48346253 51689534 1743906 2037195 312310 366089 4134434 3520000 629462 658925 6820112 6582209 X 17550691 22777191 4530617 2541391 19444833 19788743 41526141 45107325 48346253 51689534 X 5519370 -1938186 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 210230 275380 X X 0 23628732 479748 -1434035 1045000 21629445 20678348 330502 3543882 924000 23628732 18099854 317086 2341809 80401 20678348 21801407 431675 -4133228 18099854 0.00000 0.91000 0.09000 1 0 1447223 1447223 28890715 12483947 16406768 11436423 9506637 1929786 6799881 4570613 2229268 22013045 FEDERAL CAPITAL CONTRIBUTIONS 658925 658925 36062569 30543199 5519370 -1938186 -1938186 3581184 23429513 -1938186 -1938186 25367699 101382 10593488 10694870 36062569 19848329 0 19848329 101382 10593488 10694870 30543199 PART III, LINE 4: VARIOUS PAINTINGS AND FURNITURE FOR PUBLIC EXHIBITION AND PRESERVATION FOR FUTURE GENERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY HAS A TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT IT QUALIFIES UNDER THE PROVISION OF THE APPLICABLE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT EVALUATED THE UNIVERSITYS TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX PROVISIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARD BOARDS (FASB) GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2008. PART V - LINE 4 - EARNINGS FROM ENDOWMENT FUNDS ARE AVAILABLE FOR THE PURPOSE SPECIFIED IN THE DONOR'S ENDOWMENT AGREEMENT, PRIMARILY SCHOLARSHIP ALLOWANCES TO STUDENTS. PARTS XII AND XIII, LINE 4B - SCHOLARSHIP ALLOWANCES TO STUDENTS 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 CHOWAN UNIVERSITY RECEIVES FEDERAL AND STATE GRANTS FOR STUDENT SCHOLARSHIP ASSISTANCE. 1 INSTITUTIONAL SCHOLARSHIPS 1225 9766665 FMV FEDERAL & STATE GRANTS 1225 826823 FMV X 1 1 X X X 0 0 0 0 0 0 0 0 0 M CHRISTOPHER WHITE 265100 0 0 0 0 0 13375 0 2901 0 281376 0 0 0 DONNIE CLARY 157393 0 0 0 0 0 7979 0 466 0 165838 0 0 0 PART I, LINE 1A THE UNIVERSITY PROVIDES A HOUSE FOR THE PRESIDENT. THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS. X 1 7000 APPRAISED VALUE X 1 358045 ESTIMATED VALUE X PAVING 1 13400 COMPARABLE SALES 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES JEWELL FAYE GLOVER AND MATTHEW B. GLOVER - FAMILY RELATIONSHIP. TRUSTEES BARRY E. WHITAKER AND GARRY WHITAKER - FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PROVIDED TO THE MEMBERS OF THE BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES FOR THEIR REVIEW AND COMMENT BEFORE FINALIZING THE RETURN. THE FINALIZED COPY OF THE FORM 990, EXCLUDING SCHEDULE B, WAS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES THROUGH EMAIL, HARD COPY, OR POSTING ON THE UNIVERSITY WEBSITE RESTRICTED TO TRUSTEE USE. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY DISTRIBUTES A COPY OF THE CONFLICT OF INTEREST POLICY, AS STATED IN THE UNIVERSITY'S BYLAWS, TO THE BOARD OF TRUSTEES AND ADMINISTRATIVE OFFICERS. THE TRUSTEES ARE ASKED ANNUALLY TO SIGN A FORM CONFIRMING THAT THEY HAVE READ AND UNDERSTAND THE UNIVERSITY'S CONFLICT OF INTEREST POLICY AND AGREE TO DISCLOSE ANY ACTIVITIES, INTERESTS OR RELATIONSHIPS THAT MAY CREATE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS PROVIDED A COPY OF A REPORT FROM THE NORTH CAROLINA INDEPENDENT COLLEGES & UNIVERSITIES WHICH LIST THE SALARY AND BENEFITS OF THE PRESIDENTS AND CHIEF ADMINISTRATIVE STAFF POSITIONS AT THE 36 INDEPENDENT COLLEGES IN NORTH CAROLINA. THIS INFORMATION IS REVIEWED AND DISCUSSED AMONG THE COMMITTEE MEMBERS AND A RECOMMENDATION IS THEN MADE FOR THE FULL BOARD OF TRUSTEE'S APPROVAL REGARDING OF THE PRESIDENT'S SALARY. THE EXECUTIVE COMMITTEE ALSO CONDUCTS AN ANNUAL EVALUATION OF THE PRESIDENT. THE PRESIDENT PROVIDES THE COMPARATIVE SALARY INFORMATION PREVIOUSLY REFERENCED ALONG WITH HIS SALARY RECOMMENDATIONS FOR SENIOR STAFF TO THE EXECUTIVE COMMITTEE FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 REQUESTS MADE IN PERSON WILL BE MADE AVAILABLE WITHIN FIVE BUSINESS DAYS. REQUESTS MADE IN WRITING WILL BE MADE AVAILABLE WITHIN 30 DAYS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,938,186. FORM 990 PART XII LINE 2C CHOWAN UNIVERSITY HAS A COMMITTEE THAT ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.