2023-02-20T12:56:22-06:00 2022-06-30 BDO USA LLP 421 FAYETTEVILLE STREET SUITE 300 RALEIGH NC 27601 990 2021-07-01 560657294 METHODIST UNIVERSITY INC % DAWN AUSBORN METH 9106307000 5400 Ramsey St Fayetteville NC 28311 Dawn F Ausborn CFO 9106307000 2023-02-20 true Dawn F Ausborn 999009999 Sandra L Feinsmith P01064157 9192781936 2023-02-20 3 2021 2023-03-07 01:45:13Z Stanley T Wearden 5400 Ramsey St Fayetteville NC 28311 115669010 false X www.methodist.edu X 1956 NC UNDERGRADUATE AND GRADUATE EDUCATION 31 30 1059 31 0 0 11646170 18826296 65414691 68484455 1860145 1696583 744970 503543 79665976 89510877 24164135 27360503 0 0 29245319 30141225 0 0 599730 15421819 17052679 68831273 74554407 10834703 14956470 124289465 132260615 34918499 33164462 89370966 99096153 THE PURPOSE OF METHODIST UNIVERSITY IS TO PROVIDE AN UNDERGRADUATE AND GRADUATE EDUCATION FIRMLY GROUNDED IN THE LIBERAL ARTS TRADITION, THAT NURTURES MORAL VALUES & ETHICAL DECISION-MAKING; TO PROVIDE DISTINCTIVE PROFESSIONAL & GRADUATE PROGRAMS THAT COMPLEMENT THE EDUCATIONAL PURSUITS. false false 59137827 27360503 58462992 POST SECONDARY EDUCATION: METHODIST UNIVERSITY PROVIDES BOTH UNDERGRADUATE AND GRADUATE EDUCATION, FOUNDED IN LIBERAL ARTS, TO APPROXIMATELY 1800 STUDENTS. THE UNIVERSITY'S PROGRAMS ARE CONCENTRATED IN ARTS & HUMANITIES, SCIENCE & HUMAN DEVELOPMENT, BUSINESS & GRADUATE STUDIES, AND BOAST NATIONALLY RENOWNED PROGRAMS SUCH AS THE PHYSICIAN ASSISTANCE PROGRAM. THE UNIVERSITY IS A FULLY-ACCREDITED MEMBER OF THE SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS COMMISSION ON COLLEGES. 7895452 0 10021463 AUXILIARY SERVICES: THE UNIVERSITY'S AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS, DINING FACILITIES, AND A BOOKSTORE, SERVE TO PROVIDE A SUPPORT SYSTEM TO THE STUDENTS. 67033279 true true false true false false false true true true true false false false true true false true true false true false false false true false false false true true true false false false false false false false false false true true false false false false true true true false false true 179 0 true 1059 true false false false false false true true false false false false false false X 31 30 false false false false false false false true true false false true true true true true true true false false X DAWN AUSBORN 9106307000 5400 RAMSEY ST Fayetteville NC 28311 STANLEY WEARDEN PRESIDENT 40.0 0.0 X 355007 0 6607 SUZANNE B MALLEY PROVOST 40.0 0.0 X 228809 0 14223 RICHARD G SWANSON VP INST ADVANCEMENT 40.0 0.0 X 204332 0 5767 SHEILA C KINSEY VP PLAN&ADMIN / CHIEF OF STAFF 40.0 0.0 X 153620 0 24690 DAWN F AUSBORN CHIEF FINANCIAL OFFICER 40.0 0.0 X 157577 0 8120 GINA M MUSOLINO DIRECTOR OF PT PROGRAM 40.0 0.0 X 147453 0 5455 TAT W CHAN DEAN COLLEGE BUSINESS 40.0 0.0 X 131138 0 0 RICKY D LOWE VP FOR ENROLLMENT SERVICES 40.0 0.0 X 126319 0 1775 KIMBERLY E SCRUTON ASSOC PROF OF EDUCATION 40.0 0.0 X 124499 0 2043 BETH H CATER VICE PROVOST FOR ONLINE & EXT 40.0 0.0 X 117607 0 0 WILLIAM H WALKER VP STUDENT AFFAIRS 40.0 0.0 X 112465 0 4477 KELLI W TAYLOR VP MISSION INTEGRATION 40.0 0.0 X 104632 0 9606 MEREDITH P GRONSKI DIR OT/ASSOC PROF OF OT 40.0 0.0 X 110995 0 1728 CHRISTINA S PERRY DIRECTOR OF PA PROGRAM 40.0 0.0 X 110556 0 1635 DAVID R EAVENSON VP FOR ATHLETICS 40.0 0.0 X 89682 0 3828 MR JOHN MAC HEALY CHAIR OF THE BOARD 1.0 0.0 X X 0 0 0 DR RAKESH GUPTA VICE-CHAIR OF THE BOARD 1.0 0.0 X X 0 0 0 MR TIMOTHY S RICHARDSON SECRETARY OF THE BOARD 1.0 0.0 X X 0 0 0 MRS JENNIFER CLEVELAND ELAM TREASURER OF THE BOARD 1.0 0.0 X X 0 0 0 DR MARY LYNN BRYAN TRUSTEE 1.0 0.0 X 0 0 0 MR D KEITH ALLISON TRUSTEE 1.0 0.0 X 0 0 0 MR HOWARD ARDEN TRUSTEE 1.0 0.0 X 0 0 0 MR PETER M BROOME TRUSTEE 1.0 0.0 X 0 0 0 THE HONORABLE JOHN W BROWN TRUSTEE 1.0 0.0 X 0 0 0 MR A HOWARD BULLARD JR TRUSTEE 1.0 0.0 X 0 0 0 MSMARGARET HIGHSMITH DICKSON TRUSTEE 1.0 0.0 X 0 0 0 DR LOLETA WOOD FOSTER TRUSTEE 1.0 0.0 X 0 0 0 MR ROBERT J GLASER TRUSTEE 1.0 0.0 X 0 0 0 Mr J Daniel Highsmith Sr TRUSTEE 1.0 0.0 X 0 0 0 MR ROBERT HINES TRUSTEE 1.0 0.0 X 0 0 0 MR CHARLES B HOLMES TRUSTEE 1.0 0.0 X 0 0 0 MRS LINDA B HUFF TRUSTEE 1.0 0.0 X 0 0 0 MRS JO BETH JOHNSON TRUSTEE 1.0 0.0 X 0 0 0 MR EDWARD T TUNA KEIL TRUSTEE 1.0 0.0 X 0 0 0 MR EARL D LEAKE TRUSTEE 1.0 0.0 X 0 0 0 MR R WILLIFORD MCCAULEY TRUSTEE 1.0 0.0 X 0 0 0 DR WILLIAM SCHAEFER TRUSTEE 1.0 0.0 X 0 0 0 MR ANDREW SHUCK TRUSTEE 1.0 0.0 X 0 0 0 MR ELTON STANLEY TRUSTEE 1.0 0.0 X 0 0 0 MR IRA M STEINGOLD ESQ TRUSTEE 1.0 0.0 X 0 0 0 MR JAMES J TOWNSEND TRUSTEE 1.0 0.0 X 0 0 0 MR SCOTT WEATHINGTON TRUSTEE 1.0 0.0 X 0 0 0 MR WILLIAM R WEST SR TRUSTEE 1.0 0.0 X 0 0 0 REV GILLIAM GIL P WISE TRUSTEE 1.0 0.0 X 0 0 0 DR HARVEY T WRIGHT II TRUSTEE 1.0 0.0 X 0 0 0 MR JOHN W JAY WYATT III TRUSTEE 1.0 0.0 X 0 0 0 2274691 0 89954 18 false true false ARAMARK EDUCATIONAL SERVICES 5400 RAMSEY STREET FAYETTEVILLE NC 28311 FOOD SERVICE 2431169 ME CONTRACTING INC 1032 71ST SCHOOL ROAD FAYETTEVILLE NC 28314 CONSTRUCTION 612164 NET UNLIMITED CABLING SOLUTIONS LL 2483 SALEM PARK DRIVE WINSTONSALEM NC 27127 computer services 460288 BOB MCCLOSKEY AGENCY LLC PO BOX 511 MATAWAN NJ 07747 INSURANCE 280454 WILEY EDU LLC WES LOCKBOX PO BOX 22309 NEW YORK NY 10087 ONLINE PP 179949 10 35080 6292553 12498663 7169971 18826296 TUITION AND FEES 611310 58462992 58462992 DORM REVENUES 611310 5944307 5944307 BOARD REVENUES 611310 3807414 3807414 OTHER AUXILIARY REVENUES 611310 269742 269742 68484455 788865 788865 0 0 0 0 0 27020031 5600 26117913 902118 5600 907718 907718 8769 35080 40220 -31451 -31451 0 0 0 0 0 0 OTHER INCOME 900009 534994 534994 534994 89510877 68484455 2200126 0 27360503 27360503 0 0 0 0 1868089 1006527 736790 124772 0 0 0 0 22615604 19834015 2571362 210227 196436 165383 27732 3321 3735525 3168443 526494 40588 1725571 1480178 223990 21403 0 0 0 0 101369 0 101369 0 108864 0 108864 0 36283 0 36283 0 0 0 123049 0 123049 0 759109 504902 210349 43858 269629 91341 175634 2654 313706 273966 14843 24897 815228 159050 618960 37218 0 0 0 0 3679776 3547000 119353 13423 740564 707354 17571 15639 0 0 0 0 50000 32368 14776 2856 23582 22878 611 93 0 0 0 0 3873141 3519273 345539 8329 491732 355290 133733 2709 FOOD SERVICE CONTRACT 2029590 2029590 0 0 EQUIPMENT RENTAL AND REPAIR 1210416 882583 319582 8251 SUPPLIES 987505 864322 113845 9338 HOSPITALITY 171773 124428 39970 7375 1267363 903885 340699 22779 74554407 67033279 6921398 599730 7119 10962 15545725 11603130 1061702 1496205 1488522 1525942 0 0 0 0 0 0 20922 22357 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1708370 100622 35584188 22191925 883570 889395 654266 453718 99646 22757260 22892894 758521 1289241 657559 1981347 109825 22191925 27694868 1694446 1658987 575817 7459252 120338 22892894 0.37900 0.56220 0.05880 true false 97500 1518601 1616101 104636672 40414078 64222594 7980 7980 19956664 15900143 4056521 15580204 6433666 9146538 79041754 0 OBLIGATIONS UNDER CAPITAL LEASE 572156 STUDENT DEPOSITS 377950 U.S GOVERNMENT ADVANCES 11113 961219 X 56836262 -5409983 -27181803 -32591786 89428048 123049 -40220 82829 89510877 47111075 40220 40220 47070855 123049 27360503 27483552 74554407 SCHEDULE D, PART III, LINE 4: THE UNIVERSITY MAINTAINS A FEW HISTORICAL COLLECTIONS WITHIN ITS LIBRARY, INCLUDING DRAWINGS, LETTERS, MONOGRAPHS, BOOKS & RECORDS. SCHEDULE D, PART IV, LINE 2B: BANK ACCOUNT FOR STUDENT CLUBS & OTHER AFFILIATED GROUPS. SCHEDULE D, PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUNDS ARE TO PROVIDE SCHOLARSHIPS TO STUDENTS AND CASH RESERVES TO THE UNIVERSITY. SCHEDULE D, PART X, LINE 2: THE UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISION OF THE INTERNAL TAXES TOPIC OF THE FASB ASC. SCHEDULE D, PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE REPORTED ON REVENUE -27,360,503 UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENT 131,627 NET INCOME FROM MUDC 47,073 ------------- TOTAL TO SCHEDULE D, PART XI, LINE 2D -27,181,803 SCHEDULE D, PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE REPORTED ON LINE 8B -40,220 SCHEDULE D, PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE REPORTED ON LINE 8B 40,220 SCHEDULE D, PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE REPORTED ON REVENUE 27,360,503 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART 1, LINE 3: METHODIST UNIVERSITY PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ANNUAL ACADEMIC CATALOG, ON ITS WEBSITE, AND IN ALL ADVERTISEMENTS & SOLICITATIONS. SCHEDULE E, PART 1, LINE 6A - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE UNIVERSITY RECEIVES FEDERAL AND STATE AID FOR STUDENT FINANCIAL AID AWARDS, AND FUNDS FOR THE CONSTRUCTION OF FACILITIES AND PURCHASE OF EQUIPMENT FOR THE UNIVERSITY'S EDUCATIONAL PROGRAMS. Europe (Including Iceland and Greenland) 0 0 Program Services HUMANITARIAN 9284 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 3457 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 15980 Sub-Saharan Africa 0 0 Program Services HUMANITARIAN 10000 0 0 0 0 38721 38721 false false false false false false HOF GOLF TOUR. 33792 28490 5302 17510 3720 1647 10084 BOV GOLF TOUR. 10057 6590 3467 125 2670 4464 2 43849 35080 8769 17635 3720 4317 14548 40220 -31451 true TUTION ASSISTANCE 1318 27360503 SCHEDULE I, PART I, LINE 2: GRANTS TO RECIPIENTS IN THE U.S. INCLUDED TUITION ASSISTANCE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS. X X true true X X X X false false false false false false false false false STANLEY WEARDEN PRESIDENT 355007 0 0 0 0 0 0 0 6607 0 361614 0 0 0 DAWN F AUSBORN CHIEF FINANCIAL OFFICER 157577 0 0 0 0 0 0 0 8120 0 165697 0 0 0 SHEILA C KINSEY VP PLAN&ADMIN / CHIEF OF STAFF 153620 0 0 0 0 0 0 0 24690 0 178310 0 0 0 RICHARD G SWANSON VP INST ADVANCEMENT 204332 0 0 0 0 0 0 0 5767 0 210099 0 0 0 SUZANNE B MALLEY PROVOST 228809 0 0 0 0 0 0 0 14223 0 243032 0 0 0 GINA M MUSOLINO DIRECTOR OF PT PROGRAM 147453 0 0 0 0 0 0 0 5455 0 152908 0 0 0 SCHEDULE J, PART I, LINE 1A: THE UNIVERSITY MAINTAINS A RESIDENTIAL HOME ON CAMPUS WHERE THE PRESIDENT LIVES AS A CONDITION OF EMPLOYMENT. THE UNIVERSITY PROVIDES PERSONAL SERVICES OF LIGHT HOUSEKEEPING, PERFORMED BY THE UNIVERSITY'S JANITORIAL STAFF AT THE RESIDENCE OF THE PRESIDENT. A PUBLIC FINANCE AUTHORITY 561592154 74443DHB0 2021-12-08 28055000 REFUND SERIES 2012 AND 2014 BONDS false false false A 0 0 28055000 3023419 0 27595000 593777 0 0 0 0 0 2021 true false true true A false false false false 0 false false false false A false false true false false false 0 false 0 false false A false SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: PUBLIC FINANCE AUTHORITY (F) DESCRIPTION OF PURPOSE: REFUND SERIES 2012 AND SERIES 2014 BONDS, FUND A DEBT SERVICE RESERVE FUND, AND TO PAY CERTAIN EXPENSE INCURRED IN CONNECTION WITH THE ISSUANCE OF THE 2021 BONDS. Systel Office Automation Owned by a Trustee 145580 Copier Lease false SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: SYSTEL OFFICE AUTOMATION (D) DESCRIPTION OF TRANSACTION: COPIER LEASE X 7 7166471 FMV X CAPITAL EQUIPMENT 1 3500 APPRAISAL false true false SCHEDULE M, PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REFLECTS A COMBINATION OF THE NUMBER OF CONTRIBUTORS AND THE NUMBER OF ITEMS DONATED. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 IS PREPARED JOINTLY BY MANAGEMENT & THE EXTERNAL AUDITORS. IT IS REVIEWED BY MANAGEMENT & THE AUDIT COMMITTEE WITH THE EXTERNAL AUDITORS DURING THE REVIEW OF THE AUDITED FINANCIAL STATEMENTS. THE AUDIT COMMITTEE RELAYS THE RESULTS OF THE REVIEW TO THE FULL BOARD AT THE NEXT BOARD MEETING, AND A COPY OF FORM 990 IS MADE AVAILABLE TO THE FULL BOARD FOR THEIR REVIEW BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: THE UNIVERSITY ANNUALLY DISTRIBUTES ITS CONFLICT OF INTEREST POLICY & DISCLOSURE FORM TO ALL BOARD MEMBERS AND EMPLOYEES WITH BUDGET AUTHORITY, FOR REVIEW OF THE POLICY & COMPLETION OF THE QUESTIONNAIRE. A DESIGNATED COMMITTEE REVIEWS THE DISCLOSURE FORMS FOR POSSIBLE CONFLICTS OF INTEREST. ANY FINDINGS ARE SUBMITTED TO THE UNIVERSITY'S AUDIT COMMITTEE FOR REVIEW. THE UNIVERSITY GENERALLY PROHIBITS TRANSACTIONS WITH CONFLICT OF INTEREST PARTIES; HOWEVER, THE AUDIT COMMITTEE HAS THE AUTHORITY TO APPROVE CERTAIN TRANSACTIONS IN THE BEST INTEREST OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A: THE UNIVERSITY'S PRESIDENTIAL SALARY COMMITTEE EVALUATES THE PRESIDENT'S SALARY ON AN ANNUAL BASIS AND UTILIZING COMPARABILITY DATA, INCLUDING SALARY & BENEFITS HISTORY FROM BOTH WITHIN THE UNIVERSITY & OTHER PRIVATE COLLEGES AND UNIVERSITIES IN NC. THE PRESIDENTIAL SALARY COMMITTEE RECOMMENDS A SALARY FOR THE PRESIDENT TO THE UNIVERSITY'S FULL BOARD OF TRUSTEES. THE BOARD HOLDS AN EXECUTIVE SESSION TO VOTE & APPROVE THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS AVAILABLE ON THE UNIVERSITY'S WEBSITE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: UNREALIZED GAIN ON INTEREST RATE SWAP - 131,627 NET INCOME FROM SUBSIDIARY - 47,073 -------- TOTAL TO FORM 990, PART XI, LINE 9 - 178,700 METHODIST UNIVERSITY DEVELOPMENT CORPORA 5400 RAMSEY STREET FAYETTEVILLE NC 28311 561972859 REAL ESTATE DEVEL NC METHODIST UNIVE C CORP 272350 2747663 1.00000 true true false false true false false false false false true true false false false true false true false false Methodist University Development Corporation A 0 FMV Methodist University Development Corporation J 163406 FMV Methodist University Development Corporation K 186000 FMV