2020-09-02T12:46:32-05:00 2019-06-30 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2018-07-01 540646523 SOUTHERN VIRGINIA UNIVERSITY SOUT 5402618453 ONE UNIVERSITY HILL DRIVE BUENA VISTA VA 24416 BRETT GARCIA CFO 5402618453 2020-09-02 1 KRISTEN BARNETT P01234578 7033366400 66.98.98.8 2020-09-02 12:23:29 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9C094809E1B7091F026DF4A8AB44F39DF27D1C5E 2018 2020-11-19 02:30:22Z BRETT GARCIA ONE UNIVERSITY HILL DRIVE BUENA VISTA VA 24416 28924653 0 X WWW.SVU.EDU X 1867 VA TO PROVIDE A COMPREHENSIVE FOUR-YEAR LIBERAL ARTS EDUCATION. 18 17 757 24 128462 75761 7932012 7294406 16629528 19314811 121220 168482 758569 1771811 25441329 28549510 3958837 4871483 0 0 12829501 14036765 0 0 1024801 8325805 9752332 25114143 28660580 327186 -111070 38750297 41395844 17735903 20637153 21014394 20758691 X WE ARE A PRIVATE, SELF-RELIANT, RESIDENTIAL UNIVERSITY ALIGNED WITH THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS AND ITS PRINCIPLES AND VALUES.OUR MISSION IS TO GATHER FAITHFUL LATTER-DAY SAINTS AND LIKE-MINDED STUDENTS, LIFT THEM IN INTELLECT, CHARACTER, AND SPIRITUALITY, AND LAUNCH THEM INTO SUCCESSFUL LIVES AND CAREERS. 0 0 25745554 4871483 20958160 SOUTHERN VIRGINIA UNIVERSITY IS A PRIVATE, NON-PROFIT, RESIDENTIAL FOUR YEAR COLLEGE WHICH SERVED APPROXIMATELY 1,035 AVERAGE FULL AND PART-TIME STUDENTS PER SEMESTER IN THE ACADEMIC YEAR 2018-2019. DURING THE 2018-19 ACADEMIC YEAR 144 STUDENTS GRADUATED WITH BACHELORS DEGREES. 25745554 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 83 0 1 757 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 18 17 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X TRENT DESPAIN 5402618453 ONE UNIVERSITY HILL DRIVE BUENA VISTA VA 24416 DANE C MCBRIDE CHAIRMAN 1.00 X X 0 0 0 L HUGH REDD VICE CHAIR 1.00 X X 0 0 0 JAMES E SKEEN CORPORATE SECRETARY 1.00 X X 0 0 0 AARON ELTON TRUSTEE 1.00 X 0 0 0 AHMAD CORBITT TRUSTEE 1.00 X 0 0 0 ANN CHRISTENSEN TRUSTEE 1.00 X 0 0 0 BRUCE OLSEN TRUSTEE 1.00 X 0 0 0 DAVID N WEIDMAN TRUSTEE 1.00 X 0 0 0 DEBRA L HUBER TRUSTEE 1.00 X 0 0 0 GREG SCOTT TRUSTEE 1.00 X 0 0 0 JEFFREY S COTTON TRUSTEE 1.00 X 0 0 0 JOHN WHEATLEY TRUSTEE 1.00 X 0 0 0 JUSTIN KNIGHT TRUSTEE 1.00 X 0 0 0 MARK FUCHS TRUSTEE 1.00 X 0 0 0 SCOTT MCKEON TRUSTEE 1.00 X 0 0 0 STANFORD D STODDARD TRUSTEE 1.00 X 0 0 0 WENDY KIMBER TRUSTEE 1.00 X 0 0 0 ALAN OLSEN TRUSTEE 1.00 X 0 0 0 ANN MARIE JOHNSON TRUSTEE 1.00 X 0 0 0 TRAVIS BOWEN TRUSTEE 1.00 X 0 0 0 WENDY ULRICH TRUSTEE 1.00 X 0 0 0 REED N WILCOX PRESIDENT 40.00 X X 194949 0 40119 ROBERT E HUCH VP OF FINANCE & ADMIN. 40.00 X 111961 0 22892 KRISTIE GIBBONS ADMIN ASST. & SECRETARY TO THE BOARD 40.00 X 47613 0 20816 BRETT GARCIA CHIEF OF STAFF 40.00 X 107931 0 34706 462454 0 118533 3 0 1 0 0 7294406 548564 7294406 TUITION & FEES 611600 16176863 16176863 HOUSING & AUX ENTERP. 611600 2552645 2552645 SPECIAL PROGRAMS 611600 497173 497173 TRAVEL STUDY 611600 88130 88130 19314811 120999 120999 374410 5170 332097 0 42313 5170 47483 47483 1572220 43046 1529174 1476155 53019 MISCELLANEOUS 611600 147739 147739 RUSSELL CLARK REALTY C 900099 75443 75443 VENDING/LAUNDRY INCOME 611600 16179 16179 3276 3276 242637 28549510 20958160 128462 168482 4871483 4871483 819912 490810 158842 170260 10416490 9198894 731349 486247 207579 178004 16571 13004 1852491 1593654 148243 110594 740293 635141 58774 46378 43194 39417 3777 75267 68685 6582 1317264 1193052 114328 9884 196005 160816 15411 19778 1095294 976246 90718 28330 166341 142789 13683 9869 664121 605020 55672 3429 692607 545374 52262 94971 68253 60732 5820 1701 830208 757608 72600 1883963 1718599 165364 240709 219659 21050 STUDENT ACTIVITIES 921648 840906 80583 159 FOOD SERVICE COST OF SA 663599 663599 EQUIPMENT MAINTENANCE 329577 293973 28171 7433 MEMBERSHIPS 130586 116137 11129 3320 433696 374956 39296 19444 28660580 25745554 1890225 1024801 4030 4530 1321475 1403196 6963497 8812070 525638 686465 213414 213089 22705 26022 191210 299154 46253921 18116097 27577128 28137824 1436085 1325407 90000 90000 118308 111280 286807 286807 38750297 41395844 1754555 1808631 316569 335649 11806304 13994070 648447 461541 3210028 4037262 17735903 20637153 X 16509134 16133352 3568919 3642482 936341 982857 21014394 20758691 38750297 41395844 X -111070 -66997 -1701 -75935 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1450211 416 -10740 180000 1259887 1283463 27668 139080 1450211 1086722 69929 126812 1283463 1141135 18454 -72867 1086722 893697 150071 97367 1141135 0.01020 0.50540 0.48440 0 0 1369935 1369935 29885050 10266640 19618410 8738609 5475671 3262938 6260327 2373786 3886541 28137824 OBLIGATION UNDER CAPITAL LEASE 3992767 DEPOSIT 40978 ANNUITY PAYABLE 3517 4037262 X 23621241 -66997 43100 -4871975 -4895872 28517113 32397 32397 28549510 23875243 43100 43046 86146 23789097 4871483 4871483 28660580 PART V, LINE 4: SOUTHERN VIRGINIA UNIVERSITY'S ENDOWMENT CONSISTS OF ONE DOZEN INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, PRIMARILY STUDENT SCHOLARSHIPS. PART X, LINE 2: THE UNIVERSITY HAS A TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE THAT STATES IT QUALIFIES UNDER SECTION 501(C)(3) OF THE 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 HAS EVALUATED THE UNIVERSITY'S TAX POSITIONS AND HAS CONCLUDED THAT THE UNIVERSITY HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS INTERNAL REVENUE CODE GUIDANCE. THE UNIVERSITY FILES TAX RETURNS WITH U.S. FEDERAL AND VIRGINIA TAX AUTHORITIES IN WHICH THE STATUTE OF LIMITATIONS MAY GO BACK TO THE TAX YEAR ENDED JUNE 30, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES, NETTED WITH TUITION AND FEES -4,871,483. ACTUARIAL LOSS ON ANNUITY OBLIGATION -492. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII -43,046. RUSSELL CLARK REALTY CO. K-1 (NOT INCLUDED IN FINANCIAL STATEMENTS) 75,443. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON PART VIII 43,046. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES, NETTED WITH TUITION AND FEES 4,871,483. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SOUTHERN VIRGINIA UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM AREAS NOT WITHIN ITS IMMEDIATE VICINITY. IT FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS. THEREFORE, IT IS NOT REQUIRED TO PUBLISH ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH THE NEWSPAPER OR THE BROADCAST MEDIA. AS REQUIRED BY REVENUE PROCEDURE 75-50, SOUTHERN VIRGINIA UNIVERSITY INCLUDES A STATEMENT OF ITS RACIALLY NONDISCIMINATORY POLICY IN ALL OF ITS BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, SOLICITATION, PROGRAMS AND SCHOLARSHIPS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVED FUNDS FROM THE FOLLOWING US DEPARTMENT OF EDUCATION DIRECT PROGRAMS: US DEPARTMENT OF EDUCATION DIRECT LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL WORK STUDY, AND THE FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM. THE UNIVERSITY RECEIVED FUNDS UNDER THE FOLLOWING COMMONWEALTH OF VIRGINIA PROGRAM: VIRGINIA TUITION ASSISTANCE GRANT. SOUTH AMERICA 0 0 PROGRAM SERVICES SERVICES BEING PROVIDED ARE LODGING, FOOD, AND TRANSPORTATION FOR PARTICIPANTS IN THE TRAVEL STUDY PROGRAM 42690 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SERVICES BEING PROVIDED ARE LODGING, FOOD, AND TRANSPORTATION FOR PARTICIPANTS IN THE TRAVEL STUDY PROGRAM 18690 0 0 0 0 0 0 61380 0 61380 0 0 0 0 0 0 PART I, LINE 3: THE ORGANIZATION USES GAAP TO REPORT EXPENDITURES IN A FOREIGN REGION. 1 RETURNED MISSIONARY SCHOLARSHIPS 326 2223071 NEED BASED GRANTS 633 1212605 RETURNED MISSIONARY SCHOLARSHIPS 326 561263 TALENT SCHOLARSHIPS 374 821906 VARIOUS OTHER 458 52638 PART I, LINE 2: A SIGNIFICANT PORTION OF INSTITUTIONAL AID AWARDED TO STUDENTS IS BASED ON ACADEMIC MERIT, FOR WHICH THE UNIVERSITY HAS A PREDETERMINED GRID THAT PROVIDES THE AMOUNTS TO BE AWARDED BASED ON THE STUDENT'S ACTUAL GPA AND TEST SCORES AND, AS NEEDED, EVALUATION BY THE UNIVERSITY'S SCHOLARSHIP COMMITTEE. OTHER INSTITUTIONAL AID CONSISTS OF RETURNED MISSIONARY SCHOLARSHIPS, TALENT, AND OTHER NEED-BASED GRANTS. RETURNED MISSIONARY SCHOLARSHIPS ARE AWARDED IN THE AMOUNT OF $1,500 PER YEAR TO ALL FULL-TIME STUDENTS WHO HAVE COMPLETED A MISSION FOR THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS OR SIMILAR SERVICE. TALENT SCHOLARSHIPS ARE AWARDED IN VARIOUS AMOUNTS, TYPICALLY BETWEEN $500 AND $2,000 PER STUDENT, AND ARE AWARDED BASED ON THE NOMINATION OF THE UNIVERSITY FACULTY, ART/THEATRE/MUSIC DIRECTOR, ETC. AND APPROVAL OF THE FINANCIAL AID COMMITTEE. UNIVERSITY NEED BASED GRANTS AND VARIOUS OTHER GRANTS ARE AWARDED AS DETERMINED BY THE FINANCIAL AID DIRECTOR. FEDERAL & STATE GRANTS, INCLUDING PELL, SEOG, AND VTAG ARE AWARDED TO STUDENTS WHO COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND MEET THE VARIOUS QUALIFICATIONS. FEDERAL AND STATE GRANTS ARE VERIFIED INTERNALLY BY OUR FINANCIAL AID STAFF AS DICTATED BY APPLICABLE REGULATION. X 1 1 X X X 0 0 0 0 0 0 0 0 0 REED N WILCOX PRESIDENT 191241 0 0 0 3708 0 3342 0 36777 0 235068 0 0 0 PART I, LINE 1A THE ORGANIZATION'S PRESIDENT & HEAD FOOTBALL COACH RECEIVED EMPLOYER PROVIDED HOUSING IN THE AMOUNT OF $10,800 AND $9,600 DURING 2017. THIS AMOUNT WAS CONSIDERED NONTAXABLE TO THE EMPLOYEES. JORDY GIBBONS SON OF BOD SECRETARY KRISTIE GIBBONS 8125 EMPLOYEE TUITION GRANT TUITION AND FEES DURING 2017 (JANUARY - DECEMBER) TARA KAY SKEEN DAUGHTER OF DIRECTOR JIM SKEEN 122 EMPLOYEE TUITION GRANT JAMES SKEEN CORPORATE SECRETARY 21912 LEGAL FEES 0 RACHEL WILCOX DAUGHTER OF REED WILCOX 47300 EDUCATION FEES 0 DALLIN WILCOX SON OF REED WILCOX 54750 MARKETING FEES 0 LINCOLN WILCOX SON OF REED WILCOX 34894 MARKETING FEES 0 SCHEDULE L, PART IV: JAMES SKEEN'S LAW FIRM SERVED AS THE UNIVERSITY'S ATTORNEY IN SEVERAL MATTERS WHERE THE FIRM HAD PARTICULAR EXPERTISE.RACHEL WILCOX IS EMPLOYED BY THE UNIVERSITY AS AN ASSISTANT DIRECTOR OF WRITING AND TEACHES LEGAL/CONSTITUTIONAL ISSUES AS A FACULTY MEMBER.DALLIN WILCOX IS EMPLOYED BY THE UNIVERSITY IN THE COMMUNICATIONS AND MARKETING OFFICE.LINCOLN WILCOX IS EMPLOYED BY THE UNIVERSITY AS ALUMNI RELATIONS AND UNIVERSITY HOSTING COORDINATOR. X 13228 FMV X 4 304744 FMV X 1 200241 FMV X FURNITURE & EQUIPMENT 1 29791 FMV X PAINT 1 560 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 JAMES E. SKEEN, CORPORATE SECRETARY AND DANE C. MCBRIDE, TRUSTEE: FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE OF THE BOARD REVIEWS THE FULL RETURN BEFORE FILING. THE FULL BOARD IS FURNISHED A COPY OF THE RETURN, WITHOUT SCHEDULE B TO PRESERVE DONOR CONFIDENTIALITY, PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND TRUSTEES ARE REQUIRED, BY POLICY, TO DISCLOSE ANY CONFLICTS OF INTEREST THAT MAY, TO THE BEST OF THEIR KNOWLEDGE, EXIST OR POTENTIALLY EXIST BY VIRTUE OF ANY BUSINESS OF OTHER ARRANGEMENT THEY MAY HAVE WITH THE UNIVERSITY OR OTHER CIRCUMSTANCES, IN WHICH THE UNIVERSITY MAY BENEFIT THEM ECONOMICALLY (OTHER THAN THROUGH THEIR EMPLOYMENT BY THE UNIVERSITY), AND ALL SITUATIONS IN WHICH THEY MAY COMPETE WITH THE UNIVERSITY IN ANY WAY. THE UNIVERSITY DOES MONITOR AND ENFORCE THIS POLICY BY EXPECTING OFFICERS, DIRECTORS, AND TRUSTEES TO REPORT ACCORDINGLY AND PREPARES AN ANNUAL WRITTEN REPORT FORM FOR SUCH REPORTING. THE FORM REQUESTS ALL OFFICERS, DIRECTORS AND TRUSTEES TO PROVIDE INFORMATION ABOUT POTENTIAL CONFLICTS OF INTEREST FOR 2017 AND ONES THEY MAY BE AWARE OF AND THAT MAY BE POSSIBLE FOR 2018. THE UNIVERSITY ALSO REQUESTS THAT EACH OFFICER, DIRECTOR AND TRUSTEE SELF REPORT ANY ADDITIONAL POTENTIAL CONFLICTS OF INTEREST THAT MAY OCCUR DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 15A THE CEO/PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD. UPON REQUEST, THE BOARD CHAIRMAN IS PROVIDED WITH COMPARABILITY DATA FROM VARIOUS PROFESSIONAL SALARY SURVEYS TO ASSIST IN THAT DETERMINATION. THE COMPENSATION FOR OTHER TOP MANAGEMENT OFFICIALS (VICE PRESIDENT OF FINANCE AND OTHER MEMBERS OF THE PRESIDENT'S CABINET) IS DETERMINED BY THE CEO/PRESIDENT. HE/SHE IS ALSO PROVIDED WITH COMPARABLE SALARY SURVEY DATA FOR THIS PURPOSE, UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 18 DOCUMENTS REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION MAY BE OBTAINED UPON REQUEST TO THE UNIVERSITY. THESE DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS REQUIRED IN SECTION 6104(D). FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH VARIOUS THIRD PARTY (INCLUDING GOVERNMENT) WEB SITES. FORM 990, PART XI, LINE 9: RUSSELL CLARK REALTY CO. K-1 NOT INCLUDED IN FINANCIAL STATEMENTS -75,443. ACTUARIAL LOSS ON ANNUITY OBLIGATION -492. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSEEING THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT THAT AUDITED THE FINANCIAL STATEMENTS HAS BEEN CONSISTENT WITH PRIOR YEARS.