2011-02-15T19:44:06-07:00 2010-06-30 990 2009-07-01 930386839 GEORGE FOX UNIVERSITY GEOR 5035542161 414 N Meridian Box 6029 Newberg OR 97132 G Michael Goins 5035542161 2011-02-15 2009 2016-02-24 21:20:13Z G Michael Goins 414 N Meridian Box 6029 Newberg OR 97132 88459736 0 X www.georgefox.edu X 1891 OR George Fox University, a Christ-centered community, prepares students spiritually, academically, and professionally to think with clarity, act with integrity, and serve with passion through both undergraduate & graduate educational programs of study for approximately 3.400 students. 44 44 2191 50 -47096 4612381 10530210 67724478 70248199 -1282997 -137431 299575 -201401 71353437 80439577 16081356 17515415 0 0 35748055 37247220 45455 45454 1969926 19043755 20443412 70918621 75251501 434816 5188076 94024859 103685688 38022116 40575913 56002743 63109775 To prepare students spiritually, academically, and professionally to think with clarity, act with integrity, and serve with passion through both undergraduate & graduate educational programs of study for approximately 3.400 students. 0 0 34465342 17385398 43102117 Quality undergraduate education programs in the humanities, sciences and professional studies with more than 40 majors 8976100 130017 14804460 Quality Graduate education programs in the areas of Psychology, Counseling, Education, Business, & seminary inclduing 5 seminary degrees & 11 master's and doctoral degrees. 1415779 0 31070177 Athletic progamsa for Men & Women developing leadership & team-building skills including Baseball, Softball, Volleyball, Basketball, Track, Cross-country, Soccer, Golf and Tennis. (NCAA division 3) 20419245 0 20872507 SPS Adult education programs, Admissions, Student Life, Management & General, & Fundraising - everything else. 20419245 0 20872507 65276466 1 1 0 0 0 0 1 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 41 0 1 2191 1 1 1 0 0 0 1 1 0 0 0 0 1 0 44 44 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA OR WA X G Michael Goins VP FinanceTreas 5035542161 414 N Meridian St Newberg OR 971322625 David Anderson 5 X 0 0 0 Patricia Anderson 5 X 0 0 0 Carrie Lamm Bishop 5 X 0 0 0 Don Carter 5 X 0 0 0 Brenda Coe 5 X 0 0 0 Gordon Crisman 5 X X 0 0 0 Mike Delk 5 X 0 0 0 Kate Dickson 5 X 0 0 0 Steve Fellows 5 X 0 0 0 Angela Fogg 5 X 0 0 0 Keith Galitz 5 X 0 0 0 Greg Goodwin 5 X 0 0 0 Scott Gratsinger 5 X 0 0 0 David Green 5 X 0 0 0 Dale Hadley 5 X 0 0 0 Andre Iseli 5 X 0 0 0 Steve Jabusch 5 X 0 0 0 Paula Kinney 5 X 0 0 0 Jim Le Shana 5 X 0 0 0 Heather Lewis 5 X 0 0 0 Deborah Martin 5 X X 0 0 0 Bob Monroe 5 X 0 0 0 Stan Morse 5 X 0 0 0 Chuck Mylander 5 X 0 0 0 Jack Newell 5 X 0 0 0 Barbara Palmer 5 X 0 0 0 Vic Peterson 5 X 0 0 0 James Steinfeld 5 X 0 0 0 Truman Stone 5 X 0 0 0 Stephen M Tatone 5 X 0 0 0 Kent Thornburg 5 X 0 0 0 Nancy Wilhite 5 X 0 0 0 Bill Wilson 5 X 0 0 0 David Woolsey 5 X 0 0 0 Robin Baker 60 X X 195200 0 0 Patrick Allen 60 X X 115030 0 0 G Michael Goins 60 X X 124628 0 0 Bradley Lau 60 X X 91020 0 0 Robert Westervelt 60 X X 90280 0 0 Dale Seipp 60 X X 90269 0 0 Shari Scales 60 X X 85397 0 0 Linda Samek 60 X X 109260 0 0 901084 0 0 4 0 1 0 Bon Appetit Angeles1000 W Temple St Los Angeles CA 900740196 Cafeteria Management Service 2624959 Saunders Company PO Box 536 Dundee OR 97115 Building Contractor 570331 Lamar Companies PO Box 96030 Baton Rouge LA 70896 Advertising 220717 Royall & Company 1920 East Parham Rd Richmond VA 232282206 Admissions/Internet Consultant 176563 4 0 0 0 0 599185 9931025 5613655 10530210 Student Tuition & Fees 611310 60272289 60272289 0 0 Auxilliary Enterprises 611310 9975910 9975910 0 0 0 0 0 0 70248199 63832 63832 0 0 0 0 0 0 0 0 0 0 28313 0 75409 0 -47096 0 -47096 0 -47096 0 6016617 0 6217880 0 -201263 0 -201263 -201263 0 0 0 1725132 1726870 -1738 -1738 0 0 PV of trusts & Annuities 611310 -277502 -277502 0 0 Activity Fees and other income 611310 124935 124935 0 0 0 0 0 0 -152567 80439577 69956463 -47096 0 0 0 17515415 17515415 0 0 0 0 1024122 375694 388160 260268 0 0 0 0 26702911 22942666 3406341 353904 1822127 1507238 270084 44805 5836822 4744762 932640 159420 1861238 1504321 315264 41653 0 0 0 0 69785 0 69785 0 69050 0 69050 0 0 0 0 0 45454 45454 0 0 0 0 3560000 3455643 62886 41471 729666 30319 23369 675978 4055698 3504280 505603 45815 468396 43800 423879 717 0 0 0 0 2096102 2028990 61631 5481 2301229 2142914 121373 36942 0 0 0 0 520537 434870 46951 38716 1326414 551783 774631 0 0 0 0 0 2823934 2823934 0 0 306199 218059 88140 0 Eq Rental & Maint 641404 276030 365374 0 Printing & Publications 606045 414110 137286 54649 Memberships 559767 110573 402032 47162 Recruiting & Moving 89303 80108 9195 Honoraria 351149 341864 1585 7700 -131266 229093 -470150 109791 75251501 65276466 8005109 1969926 3661906 6723881 1755121 512213 990291 1574767 1984128 2152933 0 0 0 0 2177789 2235343 1106679 525619 660604 1821414 107672522 40810218 62731832 66862304 17726903 20052360 130328 148950 1099278 1075904 94024859 103685688 4405720 8087789 902595 1305300 19280000 19280000 9388744 7906252 4045057 3996572 38022116 40575913 X 36032832 42197953 5121045 5868380 14848866 15043442 56002743 63109775 94024859 103685688 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23000 101725 0 0 X X X X 0 16045963 115193 1570484 944540 47743 0 16739357 20514909 107128 -3538173 745083 292818 0 16045963 0.148 0.002 0.85 0 0 0 13289786 13289786 0 66895212 21523637 45371575 0 3276313 1558305 1718008 0 22807918 17728276 5079642 0 1403293 0 1403293 66862304 0 0 Utah property helpd in common w/ other Univ. 7500 C Christian College Consortium fund - part ownership 72768 C Time Shares 4951 C Insurance contract funding anuity 45109 F Other 18622 C 148950 Notes and Contracts Receivable 1075904 1075904 0 Actuarial Liab.for Annuities & Trusts & Other 3824113 Interes Rate Swap Liability & Other 172459 3996572 80439577 75251501 5188076 1717693 0 201263 0 0 1918956 7107032 66444134 1717693 0 0 0 1717693 64726441 0 15713136 15713136 80439577 59337102 0 0 0 1802279 1802279 57534823 201263 17515415 17716678 75251501 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Art items are used in teaching, & the ancient manuscripts are part of an ongoing project to preserve ancient manuscripts for posterity and to provide the scanned documents for scholarship. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The university's endowment funds provide scholarship funds as well as operating revenue for specific programs. SchD_P10_S00_L00 Schedule D, Part X Income tax status - The University is exempt from federal and state income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the University's tax-exempt purpose is subject to taxation as unrelated business income. Unrelated business income tax, if any, is insignificant and therefore, no tax provision has been made in the accompanying financial statements. In addition, the University qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 170(b)(1)(A)(ii). The University recognizes the tax benefit from uncertain tax position only if it is more likely than not that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The University had no unrecognized tax benefits at June 30, 2010 and 2009. The University recognizes interest accrued and penalties related to unrecognized tax benefits as an administrative expense. During the years ended June 30, 2010 and 2009, the University recognized no interest and penalties. The University files an exempt organization income tax return and an unrelated business income tax return in the U.S. federal jurisdiction and a copy with the states of California, Idaho, Oregon and Washington. The appropriate state returns are also filed for any unrelated business income. With few exceptions, the University is no longer subject to U.S. federal or state/local income tax examinations by tax authorities for years before 2006. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Financial Aid is neeted with Tuition income on the audited financial statements. This adds the tuition associated with the Financial aid back to the income $17,515,415 less Cost of sales included on the income side fir inventory cost of Sales & Schedule T expenses $1,802,279. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Bookstore expenditures included in Cost of Sales and 990-T expenses SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Financial Aid expenditures recorded in Net Tuition on audited financials. 1 1 1 Our non-discrimination policy is published annually in the Portland Oregonian newspaper in conjunction with the Oregon Independent College Association. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 George Fox University receives Title IV for SEOG, federal work study & Perkins loans. GFU also administers grants with the NSF. 1 X X X X X X X 1 Charitable Estate Planning NW solicitation of estate planning, annuities and trusts 0 210521 45454 165067 210521 45454 165067 CA CT ID OR WA 1 Academic Scholarships 1003 6085659 0 Performance Grants 281 322966 276740 current room & board charges room & board for resident assistants SEOG Grants 400 291909 Endowed Scholarships 72 102146 Other Scholarships & work study 2215 10044948 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The philosophy of student aid is to provide access and choices to students who, without financial assistance, would not be able to attend an institution of higher learning. The Executive Director of Student Financial Services is responsible for establishing Institutional policy development surrounding the delivery of financial assistance. Policy development adheres to federal and state laws and regulations as well as to the mission of the University. When appropriate, Financial Aid policy is reported to and approved by the Vice President of Enrollment Services. These policy changes also involve the Vice President of Financial Affairs. The primary purpose of a collegiate financial aid program should be to provide financial assistance to accepted students who, without such aid, would be unable to attend that university. Each university has an obligation to assist in realizing the national goal of equality of educational opportunity. The University, therefore, should work with schools, community groups, and other educational institutions in support of this goal. Parents are expected to contribute according to their means, taking into account their income, assets, number of dependents, and other relevant information. Students themselves are expected to contribute from their own assets and earnings, including appropriate borrowing against future earnings. Need-based financial aid should be offered only after determination that the resources of the family are insufficient to meet the student's educational expenses. The amount of need-based aid offered should not exceed the amount needed to meet the difference between the student's total educational expenses and the family's resources. The amount and type of self-help expected from students should be related to the circumstances of the individual. In the assignment of funds to those students designated to receive financial aid, the largest amounts of total grant assistance should go to students with the least ability to pay. The university should review its financial assistance awards annually and adjust them, if necessary, to reflect changes in the financial needs of students and the expenses of attending the institution. The university has an obligation to inform students and parents of the financial aid renewal policies for enrolled students at the time of the initial offer of financial assistance. Because the amount of financial assistance awarded reflects the economic circumstances of students and their families as well as available funding, the university should refrain from any public announcement of the amount of aid offered and encourage students, their secondary schools, and others to respect the confidentiality of this information. Selection of students to receive financial aid will be made without regard to age, sex, race, color, religion, national origin, disability or marital status. Priority consideration for aid is given to students whose files are complete by March 1 of each year. The institution will package each student according to the matrix need assigned the student. This determination is made by the award year the student will enter. Once the matrix year is determined the student is awarded a percentage of his or her (FAFSA) need with federal, state and institutional aid. The student is then awarded Work-study, followed with Perkins loan, Stafford (subsidized or unsubsidized) loan and the PLUS loan. Aid is "frozen" from one year to the next. In extreme instances as defined by the SFS Office, the amount of grant money may be increased. Honors scholarships are awarded based on the high school GPA and either the SAT or ACT scores. Students will continue to receive the scholarship as long as a continuation cumulative GPA is maintained. Award letters are mailed to the student whenever there is a change to the financial aid award and the change affects federal or state awards. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Robin Baker 195200 0 0 0 0 0 10100 0 33597 0 238897 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The university maintains a required residence for the president of the university in order to facilitate such entertaining as is required by the office and for the convenience of the university. Some of the ministers on staff allocate a portion of their income to housing allowance in accordance with the IRS code. A University Club membership is maintained for the current president of the universisty to enhance networking in the business community. Yamhill County Oregon Tax Exempt Variable Rate Demand Revenue Bonds 98464TAA7 2005-05-26 19280000 To fund various capital facilities and retire various debt 0 1 19280000 0 0 0 0 0 1928000 2007 0 1 1 1 0 0 0 0 1 0 0 0 1 1 1 1 Bank of America Merrill Lynch 30 0 0 0 X 7 4750 donor valuation X 3 9800 donor valuation X 11 426720 mkt value X 1 5120000 appraisal X 1 23000 donor valuation X Small historic items 3 1300 donor valuation X landscaping supplies 3 2236 donor valuaton X Piano 1 1000 donor valuation X General supplies 18 15219 donor valuation X Sewer Work 1 9630 donor valuation 0 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b Securities gifted to the university are forwarded to & sold immediately by our stock broker. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 The Financial Affairs office staff prepares the 990. It is reviewed by both the Assistant VP & VP for Financial Affairs before filing. The Board of Trustees Finance Committee reviews the 990 after it is filed at their next meeting. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c All employees & board of trustee members are required to complete a new conflict of Interest from each year. These records are maintained and monitored in the Human Resources department. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Key employee and top official salaries are reviewed & approved by the Board of Trustees after review of data from comparable schools. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Our conflict of interest policy is available on our website. We do not make public our financial statements except as required in Form 990 disclosures. Extension of time for filing was accepted. Feb 15, 2011 is the new due date.