2011-12-08T07:42:58-06:00 2011-05-31 CHERRY BEKAERT & HOLLAND LLP 1111 METROPOLITAN AVENUE SUITE 1000 CHARLOTTE NC 28204 990 2010-06-01 640303086 MISSISSIPPI COLLEGE MISS 6019253310 P O BOX 4051 CLINTON MS 39058 DONNA LEWIS 6019253865 2011-12-05 1 JANICE A RATICA 7043771678 2010 2016-02-24 21:20:13Z LEE G ROYCE P O BOX 4051 CLINTON MS 39058 89881490 0 X WWW.MC.EDU X 1826 MS MISSISSIPPI COLLEGE SEEKS TO BE KNOWN AS A UNIVERSITY RECOGNIZED FOR ACADEMIC EXCELLENCE & COMMITMENT TO THE CAUSE OF CHRIST. 30 28 1968 0 590083 -98720 7441922 7361073 75364475 79136221 -1035685 799748 1555111 1198553 83325823 88495595 18778335 19477206 0 0 36605574 39226440 78281 97958 1154312 25379066 24899750 80841256 83701354 2484567 4794241 175535903 182611456 30104453 29947981 145431450 152663475 X MISSISSIPPI COLLEGE IS A PRIVATE, CO-EDUCATIONAL, COMPREHENSIVE UNIVERSITY OF LIBERAL ARTS AND SCIENCES AND PROFESSIONAL STUDIES DEDICATED TO THE PURSUIT OF ACADEMIC EXCELLENCE. FOUNDED IN 1826, MISSISSIPPI COLLEGE IS THE OLDEST INSTITUTION OF HIGHER LEARNING AND THE LARGEST PRIVATE UNIVERSITY IN THE STATE OF MISSISSIPPI. AS A CHRISTIAN INSTITUTION, MISSISSIPPI COLLEGE VALUES THE INTEGRATION OF FAITH AND LEARNING THROUGHOUT THE EDUCATIONAL PROCESS. MISSISSIPPI COLLEGE STIMULATES THE INTELLECTUAL DEVELOPMENT OF ITS STUDENTS THROUGH THE LIBERAL ARTS AND SCIENCES AND CONCENTRATED STUDY IN SPECIALIZED FIELDS, INCLUDING PRE-PROFESSIONAL AND PROFESSIONAL PROGRAMS. FURTHERMORE, THE UNIVERSITY ENVIRONMENT PROMOTES THE SPIRITUAL, SOCIAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF ITS STUDENTS AND ENCOURAGES THEM TO UTILIZE THEIR SKILLS, TALENTS, AND ABILITIES AS THEY PURSUE MEANINGFUL CAREERS, LIFE-LONG LEARNING, AND SERVICE TO GOD AND OTHERS. 0 0 64887359 19477206 67863881 EDUCATIONAL AND GENERAL EXPENSES. INSTRUCTION IS PROVIDED TO MORE THAN 5,000 STUDENTS WITH UNDERGRADUATE, GRADUATE AND DOCTORAL PROGRAMS AND DEGREES. THE COLLEGE IS COMMITTED TO EXCELLENCE AND INNOVATION IN TEACHING AND LEARNING. 6816868 10717880 AUXILIARY ENTERPRISES. THE COLLEGE PROVIDES A NUMBER OF SERVICES THAT SUPPORT LEARNING, BUILD COMMUNITY AND ENHANCE THE OVERALL QUALITY OF STUDENT LIFE. THESE INCLUDE, BUT ARE NOT LIMITED TO, RESIDENTIAL HOUSING, DINING, BOOKSTORE AND MAIL SERVICES. 71704227 1 1 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 0 1 6409 0 1 1968 1 1 1 1 UK CJ 0 0 1 1 1 1 0 0 0 0 X 30 28 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MS X DONNA LEWIS 6019253865 200 S CAPITOL STREET CLINTON MS 39058 MR ROY WARD 1.00 X X 0 0 0 MRS JEAN WILLIAMS 1.00 X 0 0 0 MR RALPH BARNES 1.00 X 0 0 0 MR TROY BRAND 1.00 X 0 0 0 DR CYNTHIA BRUMFIELD 1.00 X 0 0 0 MR FINIS CALVERT 1.00 X 0 0 0 MS LA'VERNE EDNEY 1.00 X 0 0 0 MR MAJOR EVERETT 1.00 X 0 0 0 MRS GAYE FLYNT 1.00 X 0 0 0 MR LARRY FRANKLIN 1.00 X 0 0 0 DR FRANK GUNN 1.00 X 0 0 0 MR FRED HAHN 1.00 X 0 0 0 MRS JANE HEDERMAN 1.00 X 0 0 0 MR EDDIE KINCHEN 1.00 X 0 0 0 DR SHARON MARTIN 1.00 X X 0 0 0 MR BEN MCKIBBENS 1.00 X 0 0 0 DR JASPER MCPHAIL 1.00 X 0 0 0 MR ALAN NUNNELEE 1.00 X 0 0 0 MR ROBERT WATSON 1.00 X 0 0 0 DR DON PHILLIPS 1.00 X 0 0 0 REV WILLIAM P SMITH III 1.00 X 0 0 0 MR LELAND SPEED 1.00 X X 0 0 0 REV CHIP STEVENS 1.00 X 0 0 0 MR ANDY TAGGART 1.00 X 0 0 0 DR RANDY TURNER 1.00 X 0 0 0 MRS BETH CLAY 1.00 X 0 0 0 MRS ROBBIE CROSS 1.00 X 0 0 0 DR GENE HENDERSON 1.00 X 0 0 0 MR BILL SONES 1.00 X 0 0 0 MR ED TREHERN 1.00 X 0 0 0 MR BILL DYE JR 1.00 X 0 0 0 MR MIKE RICE 1.00 X 0 0 0 MRS MARY ELLIS SMITH 1.00 X 0 0 0 DR KENNETH WEATHERSBY 1.00 X 0 0 0 DR LEE G ROYCE 37.50 X 316853 0 57251 DR RONALD HOWARD 37.50 X 149089 0 31157 DR DEBORAH C NORRIS 37.50 X 114282 0 23715 DR WILLIAM TOWNSEND 37.50 X 159556 0 23021 DR JAMES TURCOTTE 37.50 X 115326 0 16328 DR ERIC E PRATT 37.50 X 94478 0 20337 DR STEVEN W STANFORD 37.50 X 115081 0 16323 MRS DONNA L LEWIS 37.50 X 125365 0 30555 MR WILLIAM CRANFORD 37.50 X 102081 0 12648 DR JAMES H ROSENBLATT 37.50 X 193891 0 18130 DR MARCELO L EDUARDO 37.50 X 170362 0 28146 DR MATTHEW STEFFEY 37.50 X 171051 0 25527 DR STANLEY BALDWIN 37.50 X 153250 0 21725 DR PATRICIA BENNETT 37.50 X 158890 0 21590 DR ANGELA KUPENDA 37.50 X 147662 0 16741 2287217 0 363194 37 0 1 0 SHANE ORMON CONSTRUCTION MGMT & DESIGN PO BOX 1359 CLINTON MS 39060 CONSTRUCTION 724875 SODEXO 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 589506 WEST GROUP 610 OPPERMAN DRIVE EAGAN MN 55123 LIBRARY SUBSCRIPTION SERVICE 577785 JA MOSS CONSTRUCTION COMPANY PO BOX 180460 RICHLAND MS 39218 CONSTRUCTION 464506 MAD GENIUS INC 279 SOUTH PERKINS STREET RIDGELAND MS 39157 ADVERTISING 452562 23 554460 6806613 266710 7361073 TUITION AND FEES 611600 66938396 66938396 AUXILIARY SERVICES 611710 10717880 10717880 OTHER REVENUE 611710 1479945 1479945 79136221 400744 400744 1140966 1140966 1140966 28995 1111971 1680402 1281398 399004 399004 399004 0 554460 104497 -104497 -104497 ADVERTISING 515100 162084 162084 162084 88495595 79136221 590083 1408218 133760 133760 19343446 19343446 1474558 594411 880147 29372132 26287228 2501726 583178 3207764 2731622 430014 46128 3116773 1394666 1685481 36626 2055213 1788116 226464 40633 97958 97958 147434 147434 5306659 4232925 964568 109166 553207 516358 35130 1719 1107694 853228 213440 41026 476294 407009 66096 3189 4114032 3516341 597012 679 1870321 1802998 44660 22663 217103 176959 40144 6066001 4944353 1121648 608868 9671 599197 SUPPLIES 1805514 1358638 384576 62300 BAD DEBTS 518365 1322 517043 DUES, MEMBERSHIPS & SUB 287736 163088 116642 8006 INTERNATIONAL PROGRAM E 224821 224821 MERCHANT PROCESSING FEE 129060 384 128676 1466641 1222883 142717 101041 83701354 71704227 10842815 1154312 11069648 12657469 888645 637327 1166429 528031 3556641 3383917 149549562 54213256 92303027 95336306 62869843 66646339 3681670 3422067 175535903 182611456 4055496 4936924 6415000 5350000 842893 784359 604461 547608 18186603 18329090 30104453 29947981 X 78777443 81950769 9418226 12101381 57235781 58611325 145431450 152663475 175535903 182611456 X 4794241 2437784 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 30738216 1082102 3688713 203696 35305335 27595001 792068 2377753 26606 30738216 33492524 698731 -5981791 614463 27595001 1.00000 1 0 6058822 6058822 127424910 45580842 81844068 258253 25825 232428 15060583 8606589 6453994 746994 746994 95336306 SHORT TERM INVESTMENTS 4452852 F EXTERNALLY MANAGED TRUST 8292396 F OTHER 16018577 F CORPORATE STOCKS AND MUTUAL FUNDS 16395342 F REAL ESTATE 21487172 F 66646339 GOVERNMENT ADVANCES-STUDENT LOANS 2369860 DEPOSITS HELD FOR OTHERS 154666 OTHER LIABILITIES 4208705 ACCRUED PENSION OBLIGATION 11595859 18329090 88495595 83701354 4794241 2697644 -259860 2437784 7232025 68980770 2697644 -18297575 -15599931 84580701 147434 3767460 3914894 88495595 65360843 104498 104498 65256345 147434 18297575 18445009 83701354 PART III, LINE 4: THE GORE GALLERY HOUSES BOTH PERMANENT AND ONGOING ART EXHIBITS AND IS OPEN TO UNIVERSITY STUDENTS AND THE PUBLIC. LOCAL ELEMENTARY AND JUNIOR HIGH PUBLIC SCHOOLS ALSO OFTEN VISIT THE GALLERY. THE GALLERY SUPPORTS THE MISSION OF THE UNIVERSITY BY PROVIDING VALUABLE EXPOSURE TO THE ARTS FOR OUR STUDENTS AND WORKING TO PRESERVE THE ARTS FOR FUTURE GENERATIONS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE HELD IN PERPETUITY IN ORDER TO PROVIDE A LONG TERM SOURCE OF INCOME THAT CAN BE USED TO PROVIDE STUDENT SCHOLARHIPS AND ACADEMIC DEPARTMENTAL SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE UNIVERSITY, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF MAY 31, 2011 AND 2010, AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN ADDITIONAL MINIMUM PENSION LIABILITY -598,592. EQUITY INCOME IN HEALTHPLEX 92,613. CHANGES IN SPLIT INTEREST OBLIGATIONS 246,119. PART XII, LINE 2D - OTHER ADJUSTMENTS: TUITION DISCOUNTS SHOWN NET OF TUITION ON FINANCIALS -18,297,575. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES SHOWN NET OF REVENUE ON 990 -104,498. OTHER REVENUE SHOWN AS NON-OPERATING REVENUE ON FINANCIALS 747,317. OTHER REVENUE SHOWN AS NON-OPERATING REVENUE ON FINANCIALS 3,124,641. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES SHOWN NET OF REVENUE ON 990 104,498. PART XIII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS SHOWN NET OF TUITION ON FINANCIALS 18,297,575. 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 THE STATEMENT WAS PUBLISHED IN "THE CLARION-LEDGER", A HINDS COUNTY NEWSPAPER ON JUNE 26, 2011. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES TITLE IV FUNDS FROM THE US DEPARTMENT OF EDUCATION, STATE OF MISSISSIPPI STUDENT GRANTS, AND RESEARCH GRANTS FROM VARIOUS GOVERNMENTAL AGENCIES. ALL ASSISTANCE IS RELATED TO THE STUDENTS OR TO THE FURTHERANCE OF THE EDUCATIONAL MISSION OF THE INSTITUTION. EUROPE 0 0 PROGRAM SERVICES EDUCATIONAL CLASSES 297000 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL CLASSES 50000 NORTH AMERICA 0 0 PROGRAM SERVICES EDUCATIONAL CLASSES 30000 CENTRAL AMERICA & THE CARIBBEAN 0 0 PROGRAM SERVICES EDUCATIONAL CLASSES 12000 0 0 0 389000 0 389000 0 0 0 1 0 0 X X X X 1 GURLEY ALLEGIANT DIRECT 278 FRANKLIN ROAD BRENTWOOD TN 37027 DIRECT MAIL SOLICITATION 0 79655 48573 31082 GREATER GIVING 1920 NW AMBERGLEN PARKWAY STE 140 BEAVERTON OR 97006 CONSULTING ON MGMT OF SCHOLARSHIPS AUCTION 0 19543 3514 16029 STELTER COMPANY 10435 NEW YORK AVENUE DES MOINES IA 50322 E-MAIL SOLICITATION 0 0 5200 -5200 99198 57287 41911 MS WILD GAME DINNER 211500 211500 3467 SCHOLARSHIP BANQUET 289325 289325 86998 1 53635 53635 14032 554460 554460 104497 104497 -104497 SCHEDULE G, PART I STELTER COMPANY PROVIDES A WEB-BASED INFORMATION SYSTEM THAT ASSISTS DONORS WITH PLANNED GIVING GIFTS SUCH AS ESTATES AND WILLS. THERE IS NO WAY TO TRACK GIFTS ON AN ANNUAL BASIS FOR THIS SERVICE. 1 FELLOWSHIP OF CHRISTIAN ATHLETES 8701 LEEDS ROAD KANSAS CITY MO 64129 440610626 501C3 43950 TO SUPPORT ON CAMPUS MINISTRY ORGANIZATIONS WORKING WITH THE COLLEGE'S STUDENTS INTERVARSITY CHRISTIAN FELLOWSHIP 6400 SCHROEDER ROAD MADISON WI 53707 362171714 501C3 38300 TO SUPPORT ON CAMPUS MINISTRY ORGANIZATIONS WORKING WITH THE COLLEGE'S STUDENTS MISSISSIPPI BAPTIST CONVENTION PO BOX 530 JACKSON MS 39205 640334158 501C3 18500 TO SUPPORT ON CAMPUS MINISTRY ORGANIZATIONS WORKING WITH THE COLLEGE'S STUDENTS MEDICAL MINISTRY INTERNATIONAL PO BOX 1339 ALLEN TX 75013 752601647 501C3 14510 TO SUPPORT ON CAMPUS MINISTRY ORGANIZATIONS WORKING WITH THE COLLEGE'S STUDENTS HABITAT FOR HUMANITY PO BOX 55634 JACKSON MS 29296 640750633 501C3 6000 TO SUPPORT ON CAMPUS MINISTRY ORGANIZATIONS WORKING WITH THE COLLEGE'S STUDENTS MISSISSIPPI CENTER FOR JUSTICE PO BOX 1203 JACKSON MS 39215 640563833 501C3 12500 TO SUPPORT ON CAMPUS MINISTRY ORGANIZATIONS WORKING WITH THE COLLEGE'S STUDENTS 6 0 TUITION DISCOUNTS/SCHOLARSHIPS 1696 16176132 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: MONIES GIVEN TO THESE ORGANIZATIONS ARE FOR THE SUPPORT OF ANOTHER ORGANIZATION THAT THE COLLEGE ADMINISTRATION BELIEVES IS WORTHY OF THEIR SUPPORT. THE USE OF THE FUNDS IS MONITORED IN THAT THE COLLEGE KNOWS THAT THE SPECIFIC INDIVIDUALS WHO WORK FOR THOSE ORGANIZATIONS ARE ON THE COLLEGE'S CAMPUS MINISTERING TO STUDENTS. REGARDING SCHOLARSHIPS, THESE ARE VERY SELDOM PAID IN CASH. THE SCHOLARSHIPS (WITH THE EXCEPTION OF A FEW SMALL HONORS DAY AWARDS) ARE PLACED DIRECTLY ON THE STUDENT'S ACCOUNTS AND THE SCHOLARSHIPS NEVER EXCEED THE TOTAL COSTS CHARGED. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR LEE G ROYCE 214763 0 20000 0 82090 0 47687 0 9564 0 374104 0 0 0 DR RONALD HOWARD 149089 0 0 0 0 0 16091 0 15066 0 180246 0 0 0 DR WILLIAM TOWNSEND 156891 0 0 0 2665 0 16061 0 6960 0 182577 0 0 0 MRS DONNA L LEWIS 119846 0 0 0 5519 0 12151 0 18404 0 155920 0 0 0 DR JAMES H ROSENBLATT 191117 0 0 0 2774 0 15500 0 2630 0 212021 0 0 0 DR MARCELO L EDUARDO 170362 0 0 0 0 0 16123 0 12023 0 198508 0 0 0 DR MATTHEW STEFFEY 169036 0 2015 0 0 0 17631 0 7896 0 196578 0 0 0 DR STANLEY BALDWIN 153250 0 0 0 0 0 14737 0 6988 0 174975 0 0 0 DR PATRICIA BENNETT 151640 0 7250 0 0 0 15036 0 6554 0 180480 0 0 0 DR ANGELA KUPENDA 115412 0 32250 0 0 0 11229 0 5512 0 164403 0 0 0 PART I, LINE 4B $30,000 WAS CONTRIBUTED TO A 457B RETIREMENT PLAN FOR DR. ROYCE. IT WILL NOT BE PAID OUT UNTIL JANUARY 2013. ROB WARD ROY WARD IS MEMBER OF THE BOARD OF DIRECTORS AND ROB IS HIS SON. 85419 THE COLLEGE EMPLOYS MR. WARD'S SON AS A FACULTY MEMBER. PAY IS IN LINE WITH NORMAL FACULTY PAY FOR EQUIVALENT EDUCATION AND EXPERIENCE 0 WATSON QUALITY FORD ROBERT WATSON, MEMBER OF THE BOARD, IS OWNER 10477 THE COLLEGE PURCHASED A VEHICLE FROM A CAR DEALERSHIP OWNED BY MR WATSON. THE VEHICLE WAS PURCHASED IN AN ARM'S LENGTH TRANSACTION IN THE NORMAL COURSE OF BUSINESS. 0 RHODA ROYCE RHODA ROYCE IS THE SPOUSE OF LEE ROYCE, PRESIDENT. 10000 THE UNIVERSITY EMPLOYS DR. ROYCE'S SPOUSE AS AN ADJUNCT FACULTY MEMBER. PAY IS IN LINE WITH NORMAL FACULTY PAY FOR EQUIVALENT EDUCATION, EXPERIENCE AND DUTIES. 0 X 8 217983 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 7A THE MISSISSIPPI BAPTIST CONVENTION SHALL ANNUALLY ELECT THE TRUSTEES BY VOTE OF THE MESSENGERS AT THE ANNUAL CONVENTION OF THAT BODY HELD IMMEDIATELY PRIOR TO THE COMMENCEMENT OF SUCH TERMS OF OFFICE. THE TRUSTEES SHALL BE ELECTED FROM NOMINEES JOINTLY APPROVED BY THE RESOLUTION OF THE BOARD OF TRUSTEES (ACTING AS A BOARD OR THROUGH A COMMITTEE SPECIFICALLY AUTHORIZED TO ACT ON BEHALF OF THE BOARD) AND BY THE NOMINATING COMMITTEE OF THE MISSISSIPPI BAPTIST CONVENTION (OR BY SUCH OTHER COMMITTEE AS MAY BE FROM TIME TO TIME DESIGNATED BY THE CONVENTION). NO PERSON SHALL BE ELIGIBLE FOR ELECTION AS A TRUSTEE BY THE CONVENTION WHO HAS NOT BEEN JOINTLY APPROVED BY THE BOARD OF TRUSTEES AND THE NOMINATING COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11 THE RETURNS ARE REVIEWED BY THE CONTROLLER AND THE CFO. COPIES OF THE 990 TAX RETURN ARE DISTRIBUTED TO THE COLLEGE'S AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING THE RETURNS. THE 990 IS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES FOR INSPECTION. FORM 990, PART VI, SECTION B, LINE 12C EACH NEW BOARD MEMBER, OFFICER OR KEY EMPLOYEE IS REQUIRED TO SIGN A STATEMENT INDICATING THAT HE/SHE HAS READ THE COLLEGE'S CONFLICT OF INTEREST POLICY AND DISCLOSED ALL POSSIBLE CONFLICTS. THESE STATEMENTS ARE THEN REVIEWED BY THE AUDIT COMMITTEE. DURING THE YEAR, IF THE AUDIT COMMITTEE DETERMINES THAT A BOARD MEMBER HAS A CONFLICT OF INTEREST, THE CONFLICT IS DISCLOSED TO THE FULL BOARD AND THE SPECIFIC MEMBER WITH THE CONFLICT IS REQUIRED TO RECUSE HIM/HERSELF FROM ANY DECISION MAKING INVOLVEMENT RELATED TO THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD'S EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPOSED OF THE CHAIRMAN OF ALL BOARD COMMITTEES. THE EXECUTIVE COMMITTEE USES DATA FROM COMPARABLE UNIVERSITIES TO DETERMINE COMPENSATION. THE PRESIDENT HAS A WRITTEN CONTRACT COVERING ALL FORMS OF COMPENSATION. COMPENSATION FOR OTHER TOP MANAGEMENT OFFICIALS, OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT. SALARY DATA FROM OTHER LIKE SIZE INSTITUTIONS IS USED FOR COMPARISON IN DETERMINING SALARY LEVELS. ALL OFFICERS AND KEY EMPLOYEES' SALARIES ARE INCLUDED IN THE UNIVERSITY BUDGET WHICH IS APPROVED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,697,644. CHANGE IN ADDITIONAL MINIMUM PENSION LIABILITY -598,592. EQUITY INCOME IN HEALTHPLEX 92,613. CHANGES IN SPLIT INTEREST OBLIGATIONS 246,119. TOTAL TO FORM 990, PART XI, LINE 5: 2,437,784. AUDIT COMMITTEE FORM 990, PART XI, LINE 2C THE AUDIT COMMITTEE SHALL ANNUALLY RECOMMEND TO THE BOARD OF TRUSTEES A FIRM OF ACCOUNTANTS TO AUDIT THE FINANCIAL RECORDS OF THE COLLEGE, SHALL MEET WITH THE AUDITORS SELECTED BY THE BOARD OF TRUSTEES TO REVIEW THE AUDIT REPORT, SHALL OVERSEE DISTRIBUTION OF THAT REPORT TO THE FULL BOARD, SHALL OVERSEE AND RECEIVE REPORTS FROM INTERNAL AUDIT PERSONNEL OF THE COLLEGE AND SHALL REPORT TO AND ADVISE THE BOARD OF TRUSTEES WITH RESPECT TO ALL MATTERS RELATING HERETO. THE EXTERNAL AUDITORS WILL REPORT DIRECTLY TO THE AUDIT COMMITTEE OF THE BOARD. MEMBERS OF THE AUDIT COMMITTEE MAY NOT SERVE CONCURRENTLY ON THE BUSINESS AFFAIRS COMMITTEE. PASSIVE FOREIGN INVESTMENTS: MISSISSIPPI COLLEGE IS AN INVESTOR IN ONE OR MORE "PASSIVE FOREIGN INVESTMENT COMPANIES" ("PFICS"). THE COLLEGE IS AN INVESTOR IN POINTER OFFSHORE, LTD., LOCATED IN THE CAYMAN ISLANDS, AND IRONWOOD INTERNATIONAL, ALSO LOCATED IN THE CAYMAN ISLANDS. THEY RECEIVED NO TAXABLE DISTRIBUTIONS FROM EITHER OF THE ABOVE FUNDS DURING FISCAL YEAR 2010. FORM 8621 IS NOT BEING FILED PURSUANT TO IRS GUIDANCE SET FORTH IN REG SEC 1.1291-1(E). MISSISSIPPI COLLEGE FOUNDATION PO BOX 4005 CLINTON MS 39058 200058235 SUPPORTING ORGANIZATION MS 501C3 7 MISSISSIPPI COLLEGE 0 THE BAPTIST HEALTHPLEX INC 102 NEW PROSPECT STREET CLINTON MS 39058 640900902 SUPPORTING ORGANIZATION; HEALTH & FITNESS MS 501C3 9 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 THE BAPTIST HEALTHPLEX INC I 915993 FAIR MARKET VALUE