2026-05-15T16:24:22-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 600 WASHINGTON AVENUE SUITE 1800 ST LOUIS MO 63101 990 2024-07-01 860186050 ARIZONA CHRISTIAN UNIVERSITY ARIZ 6024895300 1 WEST FIRESTORM WAY GLENDALE AZ 85306 LEN MUNSIL CHIEF EXECUTIVE OFFICER 6024895300 2026-05-15 1 0 STEPHANIE MCCARTHY P01805699 3149254300 2026-05-15 2024 2025-03-06 01:10:19Z LEN MUNSIL 1 WEST FIRESTORM WAY GLENDALE AZ 85306 52881187 0 X WWW.ARIZONACHRISTIAN.EDU X 1960 AZ ARIZONA CHRISTIAN UNIVERSITY PROVIDES A BIBLICALLY-INTEGRATED, LIBERAL ARTS EDUCATION EQUIPPING GRADUATES TO SERVE THE LORD JESUS CHRIST IN ALL ASPECTS OF LIFE, AS LEADERS OF INFLUENCE AND EXCELLENCE. ARIZONA CHRISTIAN UNIVERSITY EXISTS TO EDUCATE AND EQUIP FOLLOWERS OF CHRIST TO TRANSFORM CULTURE WITH THE TRUTH. 12 12 499 50 0 0 8539174 6744780 43587184 45583317 255898 454587 94606 98503 52476862 52881187 19141205 19722992 0 0 13764217 14796409 21461 0 1306473 18396129 19726290 51323012 54245691 1153850 -1364504 65598503 78906665 44338599 58857274 21259904 20049391 ARIZONA CHRISTIAN UNIVERSITY PROVIDES A BIBLICALLY-INTEGRATED, LIBERAL ARTS EDUCATION EQUIPPING GRADUATES TO SERVE THE LORD JESUS CHRIST IN ALL ASPECTS OF LIFE, AS LEADERS OF INFLUENCE AND EXCELLENCE. 0 0 43155255 19722992 37406584 ARIZONA CHRISTIAN UNIVERSITY IS AN INSTITUTE OF HIGHER EDUCATION DEDICATED TO TRAINING GRADUATES TO SERVE THE LORD JESUS CHRIST AS LEADERS OF INFLUENCE AND EXCELLENCE. BASED IN GLENDALE, AZ, ACU HAS THREE BIBLICALLY INTEGRATED GRADUATE DEGREES IN CHRISTIAN LEADERSHIP, MARRIAGE AND FAMILY THERAPY, AND EDUCATION. FOUNDED RECENTLY, ACU'S PROGRAMS HAVE GROWN RAPIDLY AND BEGUN TO SEND LEADERS INTO THE WORLD WITH A WORLD-CLASS EDUCATION AND A PURPOSE TO TRANSFORM CULTURE WITH TRUTH. 5927750 0 8176733 AUXILIARY SERVICES & OUTREACH MINISTRIES:ARIZONA CHRISTIAN UNIVERSITY PROVIDES STUDENT LIFE PROGRAMS, UPDATED FACILITIES FOR STUDENTS, AND EXTRA-CURRICULAR ACTIVITIES TO FURTHER ENHANCE THE EDUCATIONAL EXPERIENCE FOR EACH STUDENT. ACU PROVIDES OPPORTUNITIES FOR STUDENTS TO FULFILL THE UNIVERSITY'S MISSION TO ENGAGE THE WORLD FOR JESUS CHRIST AND TRANSFORM CULTURE WITH TRUTH. THE UNIVERSITY HELPS CONNECT STUDENTS WITH MINISTRIES AND SERVICE OPPORTUNITIES IN THE SURROUNDING COMMUNITY AS WELL AS PROVIDES THE OPPORTUNITY FOR STUDENTS, FACULTY, AND STAFF TO PARTICIPATE IN INTERNATIONAL MISSION TRIPS. 49083005 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 1 39 0 1 499 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X MICHELLE NORMAN 6024895300 1 WEST FIRESTORM WAY GLENDALE AZ 85306 MR MICHAEL FARRIS CHAIR 5.00 X X 0 0 0 DR LARRY ANDERSON VICE CHAIR 1.00 X X 0 0 0 DON KING SECRETARY 1.00 X X 0 0 0 WAYNE MIHAILOV TREASURER 1.00 X X 0 0 0 JEFF GUNN TRUSTEE 1.00 X 0 0 0 PETER MACULAN TRUSTEE 1.00 X 0 0 0 HOWARD MORRISON TRUSTEE 1.00 X 0 0 0 DAVID PRUITT TRUSTEE 1.00 X 0 0 0 DR SHELLY RODEN TRUSTEE 1.00 X 0 0 0 PATRICK SMITH TRUSTEE 1.00 X 0 0 0 ANDREW UNKEFER TRUSTEE 1.00 X 0 0 0 BRENT VEACH TRUSTEE 1.00 X 0 0 0 LEN MUNSIL PRESIDENT 60.00 X 478560 0 17769 JAMES TITO CHIEF OPERATING OFFICER 50.00 X 300051 0 1032 MICHAEL WERNER VP FINANCE 50.00 X 142117 0 14728 JEFFREY GREEN VP ACADEMIC AFFAIRS 50.00 X 194333 0 10453 JAMES GRIFFITHS VP UNIVERSITY ENGAGEMENT 50.00 X 162726 0 9465 JEFF RUTTER VP & HEAD BASKETBALL COACH 50.00 X 126679 0 14630 ANTHONY ALLEN VP ADVANCEMENT 50.00 X 145978 0 15050 PETER DRYER DIRECTOR OF ATHLETICS 50.00 X 143711 0 5239 1694155 0 88366 8 0 1 0 SODEXO INC & AFFILIATES DEPT 880328 LOS ANGELES CA 90088 FOOD SERVICE AND CAMPUS MAINTENANCE 5470145 VEEYA LLC 4561 E MCDOWELL RD STE 100 PHOENIX AZ 85008 IT SERVICES 256624 CLIFTONLARSONALLEN LLP PO BOX 31001-2433 PASADENA CA 91110 AUDIT/ACCOUNTING FEES 214294 NICHECOM INC 2840 LIBERTY AVENUE STE 202 PITTSBURGH PA 15222 MARKETING SERVICES 101112 4 4030 6740750 2666340 6744780 STUDENT TUITION & FEES 611310 37406584 37406584 AUXILIARY SERVICES 611710 8176733 8176733 45583317 454587 454587 OTHER REVENUE 900099 98503 98503 98503 52881187 45583317 0 553090 X 19722992 19722992 1318221 636359 510363 171499 10865318 9708339 797938 359041 159782 156421 1432 1929 1622247 1481583 97846 42818 830841 713905 91654 25282 234970 234970 12343 12343 7344707 6420722 372725 551260 418629 94250 318533 5846 280939 251835 23695 5409 1419254 1342468 69710 7076 1449252 1406400 18779 24073 363151 336018 15843 11290 3380384 3211365 169019 2028253 1787131 231700 9422 491229 440651 43907 6671 MAINTENANCE & REPAIRS 730146 622554 106484 1108 DUES & SUBSCRIPTIONS 648042 507486 103698 36858 BAD DEBT EXPENSE 536497 536497 BANK FEES 146594 25532 77456 43606 241900 216994 21621 3285 54245691 49083005 3856213 1306473 3374264 5589233 372036 443513 7786703 5483536 1179460 1792192 200858 141242 61317184 10495972 43389219 50821212 1470849 1666934 7825114 12968803 65598503 78906665 4538077 5315874 2133941 3410808 8110000 7955000 27071985 40864680 2484596 1310912 44338599 58857274 X 13959495 15123998 7300409 4925393 21259904 20049391 65598503 78906665 X -1364504 183043 -29052 X X 0 1 X 1 1 1 X 13351710 6082871 3777356 8539174 6744780 38495891 13351710 6082871 3777356 8539174 6744780 38495891 6499258 31996633 501767 249277 338254 260497 454587 1804382 26377 18718 36340 94606 98503 274544 40574817 184333531 0.78860 0.75860 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 26,377. 2021 AMOUNT: $ 18,718. 2022 AMOUNT: $ 36,340. 2023 AMOUNT: $ 94,606. 2024 AMOUNT: $ 98,503. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 727690 168079 895769 527700 199990 727690 419892 107808 527700 576455 100000 -256563 419892 251427 325028 576455 1.00000 0 0 11445000 11445000 36645137 4719094 31926043 7282668 5776878 1505790 5944379 5944379 50821212 DEPOSITS HELD WITH TRUSTEE 8498031 RIGHT OF USE ASSET 180772 ASSET HELD FOR SALE 4290000 12968803 ANNUITY LIABILITY 761328 CONTRACT LIABILITY 352600 LEASE LIABILITY - FINANCING 196984 1310912 X 33354431 183043 54588 -19752044 -19514413 52868844 12343 12343 52881187 34564944 54588 54588 34510356 12343 19722992 19735335 54245691 PART V, LINE 4: THE PURPOSE OF INVESTMENT AND ENDOWMENT FUNDS IS TO SUPPORT THE SHORT AND LONG TERM FINANCIAL NEEDS OF ARIZONA CHRISTIAN UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME UNDER 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. THE UNIVERSITY UTILIZES THE PROVISIONS OF FASB ASC 7 40-10, ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THE UNIVERSITY CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -29,052. SCHOLARSHIPS NETTED AGAINST REVENUE -19,722,992. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP NETTED AGAINST REVENUE 19,722,992. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 IN ACCORDANCE WITH REV. PROC. 75-50, THE NONDISCRIMINATION POLICY IS INCLUDED IN ALL BROCHURES, MAILINGS, CATALOGS, AND IS AVAILABLE ONLINE. SCHEDULE E, PART I, LINE 6 STUDENT FINANCIAL AID IS RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION SUCH AS SUPPLEMENTARY EDUCATIONAL OPPORTUNITY GRANTS, WORK STUDY, PELL GRANTS, DIRECT STUDENT LOANS (LOAN GUARANTEES), AND TEACH GRANTS. AS WELL AS, THE HISPANIC SERVING INSTITUTIONS GRANT. 1 SCHOLARSHIPS - STUDENT AWARDS 1166 19722992 0 N/A N/A PART I, LINE 2: ALL SCHOLARSHIPS ARE AWARDED TO STUDENTS WHO HAVE COMPLETED THE COLLEGE'S ADMISSIONS REQUIREMENTS AND HAVE REGISTERED FOR CLASSES. SCHOLARSHIPS REQUIRE A STUDENT TO MAINTAIN A FULL-TIME STATUS THROUGHOUT THE SEMESTER AND ARE AWARDED FOR ONE YEAR, DIVIDED EVENLY BETWEEN THE FALL AND SPRING SEMESTERS. MOST SCHOLARSHIPS ARE RENEWED ANNUALLY AS LONG AS THE STUDENT MEETS THE RENEWAL CRITERIA AND COMPLETES THE FAFSA. MUSIC AND ATHLETIC SCHOLARSHIPS REQUIRE RE-EVALUATION EACH YEAR AND ARE NOT AUTOMATICALLY RENEWED. SCHOLARSHIPS ARE AWARDED WITH THE UNDERSTANDING THAT A STUDENT WILL COMPLETE THE SEMESTER FOR WHICH THE AWARD IS RECEIVED. A STUDENT MUST BE IN GOOD STANDING AND MAKING SATISFACTORY PROGRESS IN ORDER TO RECEIVE A SCHOLARSHIP. X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 LEN MUNSIL PRESIDENT 478560 0 0 0 0 0 10348 0 7421 0 496329 0 0 0 JAMES TITO CHIEF OPERATING OFFICER 300051 0 0 0 0 0 0 0 1032 0 301083 0 0 0 JEFFREY GREEN VP ACADEMIC AFFAIRS 194333 0 0 0 0 0 3278 0 7175 0 204786 0 0 0 JAMES GRIFFITHS VP UNIVERSITY ENGAGEMENT 162726 0 0 0 0 0 5254 0 4211 0 172191 0 0 0 ANTHONY ALLEN VP ADVANCEMENT 145978 0 0 0 0 0 4793 0 10257 0 161028 0 0 0 MICHAEL WERNER VP FINANCE 142117 0 0 0 0 0 4704 0 10024 0 156845 0 0 0 PART I, LINE 1A THE PRESIDENT'S SPOUSE (AN INDEPENDENT CONTRACTOR FOR THE UNIVERSITY) ACCOMPANIES HIM TO CONFERENCES, EVENTS AND DONOR MEETINGS WHERE HER PRESENCE IS REQUESTED AND THERE IS A VALID BUSINESS PURPOSE. THIS IS TREATED AS A BUSINESS EXPENSE AND IS NOT INCLUDED IN TAXABLE COMPENSATION. PART I, LINE 1B TRAVEL EXPENSE REIMBURSEMENTS ARE NOT INCLUDED AS COMPENSATION A ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY 813526584 04052BKD5 2019-11-21 8332404 FINANCE UNIVERSITY EDUCATIONAL FACILITIES 0 0 0 B THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF MARICOPA 860445263 56681NJB4 2024-10-17 19488225 FINANCE UNIVERSITY EDUCATIONAL FACILITIES 0 0 0 A 450000 8372159 606037 457215 164392 919825 6183341 39083 2266 2021 0 0 0 1 B 19098460 1950385 389764 0 0 0 1 A 0 1 1 0 0 0.00150 0.00000 0.00150 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 6000 TUITION DISCOUNTS TUITION DISCOUNTS TO FAMILIES OF BOARD MEMBERS AND OFFICERS TRACY MUNSIL FAMILY MEMBER OF THE PRESIDENT 72000 INDEPENDENT CONTRACTOR COMPENSATION 0 BRETT NELSON FAMILY MEMBER OF THE PRESIDENT 44905 EMPLOYEE COMPENSATION 0 X EQUIPMENT 2 2666340 FMV 0 1 1 PART I, COLUMN (B): THE NUMBER REPRESENTED IN COLUMN (B) EQUALS THE TOTAL NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPOSED OF THE CHAIR, VICE CHAIR, SECRETARY AND TREASURER. THE BOARD OF TRUSTEES ENTRUSTS THE GOVERNING OF THE UNIVERSITY BETWEEN BOARD SESSIONS TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL MEET AS OFTEN AS DEEMED NECESSARY TO FULFILL ITS RESPONSIBILITIES, AND SHALL BE BOUND TO ABIDE WITHIN THE DEFINED POLICIES OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO IT BEING SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST DISCLOSURES ANNUALLY. THESE FORMS ARE REVIEWED BY MANAGEMENT AS WELL AS THE AUDIT COMMITTEE. ANY CONFLICTS OR POTENTIAL CONFLICTS ARE RESOLVED BY THE AUDIT COMMITTEE AND THE BOARD OF TRUSTEES. ALL CONFLICTED PARTIES ARE REQUIRED TO RECUSE THEMSELVES FROM BOARD DELIBERATIONS AND ANY SUBSEQUENT VOTE. THE RESULTS OF THE DELIBERATIONS ARE DOCUMENTED IN THE BOARD'S MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE REVIEWS ANNUAL COMPENSATION STUDIES FROM VARIOUS HIGHER EDUCATION ASSOCIATIONS AND COMPARABLE COMPENSATION PACKAGES FOR CHIEF EXECUTIVES AT OTHER HIGHER EDUCATION INSTITUTIONS AND NONPROFITS. WHILE SEEKING TO EXTEND THE PRESIDENT'S CONTRACT IN 2021, THE COMMITTEE HIRED AN INDEPENDENT CPA TO PRODUCE A COMPARABILITY STUDY FOR ITS REVIEW. IN NOVEMBER 2023, THE BOARD ENGAGED WITH A PRIVATE, INDEPENDENT FIRM TO PERFORM A SECOND COMPARABILITY STUDY, WHICH CONCLUDED THE PRESIDENT'S COMPENSATION WAS JUSTIFIED. IN ADDITION TO THE COMPARABILITY STUDIES, THE BOARD RECOGNIZES: PRESIDENT MUNSIL'S PERFORMANCE AND LEADERSHIP IN THE UNIVERSITY'S GROWTH FROM $11 MILLION TO $52 MILLION IN ANNUAL REVENUES BETWEEN 2011 AND 2024, A PERFORMANCE UNPARALLELED AMONG SMALL COLLEGES IN AMERICA; THE UNIVERSITY ACHIEVING UNPRECEDENTED REGIONAL AND NATIONAL AWARDS AND RANKINGS FOR EXCELLENCE; HIS ROLE IN CONCEIVING OF, INITIATING AND NEGOTIATING A LAND SWAP ENABLING ACU TO MOVE FROM A LAND-LOCKED 20-ACRE CAMPUS TO A 68-ACRE CAMPUS, PRODUCING A $31 MILLION ASSET GAIN FOR THE UNIVERSITY; HIS SUCCESS IN GENERATING MORE THAN $110 MILLION OF DONOR SUPPORT, INCLUDING PERSONALLY SOLICITING MULTIPLE 7-FIGURE-PLUS GIFTS; AND HIS DECISION TO STAY AT THE UNIVERSITY DESPITE BEING RECRUITED FOR AND OFFERED THE PRESIDENCY OF A MUCH LARGER UNIVERSITY. THE COMPENSATION COMMITTEE DETERMINED THAT PRESIDENT MUNSIL'S PERFORMANCE RECORD AND MARKETABILITY JUSTIFIED A SALARY IN THE HIGH RANGE OF COMPARABLES. THE COMMITTEE ALSO RECOGNIZED THAT FOR 7 YEARS PRESIDENT MUNSIL CHOSE TO NOT TAKE RAISES OR RECEIVE THE FULL SALARY IN HIS EMPLOYMENT CONTRACT SO THAT OTHER OBLIGATIONS COULD BE MET. WHILE THE UNIVERSITY IS NOT REQUIRED TO PROVIDE FOR SALARY NOT TAKEN, THE COMMITTEE ON ITS OWN INITIATIVE SOUGHT TO RESTORE SOME OF THAT LOST SALARY WHEN FINANCIALLY ABLE BY PROVIDING ADDITIONAL PAYMENTS DURING THE NEXT FEW YEARS OF HIS EMPLOYMENT, WHICH WAS EXTENDED IN A NEW CONTRACT THROUGH 2026. PRESIDENT MUNSIL HAS NOT RECEIVED A BASE SALARY INCREASE SINCE 2019. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 6,420,722. MANAGEMENT AND GENERAL EXPENSES 372,725. FUNDRAISING EXPENSES 551,260. TOTAL EXPENSES 7,344,707. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -29,052. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. CHARITABLE REMAINDER TRUST (1) HOLD ASSETS AND REMIT INCOME TO UNIVERSITY AZ ARIZONA CHRISTIAN UNIVERSITY T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0