2020-04-29T15:55:40-05:00 2019-06-30 363990892 Capin Crouse LLP 3050 Saturn Street Suite 104 Brea CA 92821 990 2018-07-01 941312349 Corban University CORB 5033757020 5000 Deer Park Drive SE Salem OR 97317 Denise Wendler Associate VP of Finance 5033757020 2020-04-29 1 Ted R Batson Jr P00721951 7145770988 139.146.132.42 2020-04-29 16:55:34 ED P E837F78391D18BEAC9FAB0186C1456B47F5133A5 0D4D5BBFF3946A649DBC6DD481CDA62344CC8927 2018 2020-09-23 17:36:50Z Sheldon Nord 5000 Deer Park Drive SE Salem OR 97317 38888306 0 X www.corban.edu X 1935 OR Equip men and women to bring CHARACTER to their communities and COMPETENCE to their careers. 21 20 724 100 0 0 4660986 1538576 37767880 36927521 159033 251256 146378 170953 42734277 38888306 16577061 15710184 0 0 12804273 11902657 0 0 1347954 13052564 9693948 42433898 37306789 300379 1581517 22781413 20839718 15903870 12380658 6877543 8459060 Corban University's goal is to equip men and women who will bring CHARACTER to their communities and COMPETENCE to their careers, all to the glory of CHRIST. 0 0 29892478 15710184 30906231 Tuition and fees used to provide over 50 undergraduate, graduate and doctoral programs, both on campus and online to approximately 1,400 students. Each program combines academic excellence with Christian principles and purpose, integrating a biblical worldview in every class. 1646034 6021290 To provide on-campus student housing and food services for over 500 students annually. 31538512 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1748 0 1 724 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X Denise Wendler 5033757020 5000 Deer Park Drive SE Salem OR 97317 James Carlson Chairman 3.00 X X 0 0 0 Tim Aagard Trustee 1.00 X 0 0 0 Karen Avinelis Trustee 1.00 X 0 0 0 Tim Baker Trustee 1.00 X 0 0 0 Douglas Beals Trustee 1.00 X 0 0 0 Patty Roth Trustee 1.00 X 0 0 0 Deanna Gardiner-Garcia Trustee 1.00 X 0 0 0 Patti Garrido Trustee 1.00 X 0 0 0 Mark Hanke Trustee 1.00 X 0 0 0 Craig Hardinger Trustee 1.00 X 0 0 0 Daniel Hill Trustee 1.00 X 0 0 0 Rod Hoff Trustee 1.00 X 0 0 0 Paul Martin Trustee 1.00 X 0 0 0 Stephen McBee Trustee 1.00 X 0 0 0 Paul Null Trustee 1.00 X 0 0 0 Wayne Riehle Trustee 1.00 X 0 0 0 Scott Sherman Trustee 1.00 X 0 0 0 John Song Trustee 1.00 X 0 0 0 Erhardt Steinborn Trustee 1.00 X 0 0 0 Richard Whipps Trustee 1.00 X 0 0 0 James White Trustee 1.00 X 0 0 0 Sheldon Nord President 40.00 X 267097 0 10927 Brenda Roth Vice President for Student Life 40.00 X 95988 0 8885 Steve Sammons VP for Strategic Initiatives 40.00 X 118505 0 49667 Patricia Shelton part year Vice President for Busines 40.00 X 116877 0 10408 Michael Patterson part year Interim Provost/Provost 40.00 X 131416 0 12127 Denise Wendler Assoc VP Finance/Controller 40.00 X 0 0 0 729883 0 92014 4 0 1 0 Aramark Corporation 27310 Network Pl Chicago IL 60673 Food service 3376284 Capture LLC 2303 River Rd Ste 201 Chicago IL 60673 Marketing consulting 136100 2 1538576 988 1538576 Tuition and Fees 611310 30092521 30092521 Auxiliary Services 611310 6021290 6021290 813710 813710 36927521 227190 227190 170953 0 170953 170953 170953 24066 0 24066 24066 24066 38888306 36927521 0 422209 15710184 15710184 830835 130593 503777 196465 9068145 6634698 1678412 755035 1376748 1015903 226673 134172 626929 428968 139491 58470 29182 28632 550 78300 78300 3247422 3086160 157887 3375 874957 671386 111093 92478 519161 241232 256368 21561 392450 17641 367180 7629 704162 499095 207937 -2870 1049320 922549 53567 73204 299552 278032 16732 4788 666038 509000 157038 1216122 1003693 212429 83215 3494 79721 Instruction Materials 386366 378348 4921 3097 Loan Assistance Repayme 145609 145609 Institutional/Academic 28389 7536 20853 Bad Debt -64474 -64474 38177 38177 37306789 31538512 4420323 1347954 X 2186619 45396 2526681 127250 60000 1035184 901009 1350000 1458750 32399633 17646905 15474108 14752728 860134 745657 1748118 349497 22781413 20839718 2459942 1961140 1867475 802705 350000 210000 8367796 7566946 2713461 1839867 145196 0 15903870 12380658 X 3849224 5888539 3028319 2570521 6877543 8459060 22781413 20839718 1581517 0 X X 0 1 X 1 1 1 X 3270055 3217410 2543955 4660986 1538576 15230982 3270055 3217410 2543955 4660986 1538576 15230982 1683372 13547610 574341 240669 398143 1213153 216205 472791 113807 802803 17246938 176915307 0.78550 0.83060 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Income - 2014 Amount: $ 216,205. 2015 Amount: $ 472,791. 2016 Amount: $ 113,807. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 251735 X 0 555493 9700 545793 487857 67636 555493 2622097 5450 148341 6900 1692807 588324 487857 2595232 114788 25969 113892 2622097 1899343 284560 483979 72650 2595232 1.00000 0 0 858079 858079 27022165 14511485 12510680 3651330 3135420 515910 868059 868059 14752728 23178122 0 23178122 15710184 15710184 38888306 21596605 0 21596605 15710184 15710184 37306789 Part III, Line 4: Located on the second floor of Corban's library, the Prewitt-Allen Archaeological Museum houses a rare collection of over 900 artifacts and replicas from the Middle East and Greece, ranging from 7th century Egypt to 18th century Ottoman Empire (modern-day Iraq). Visitors are welcome to peruse the museum as well as school field trips, senior citizen groups, and church groups. Part V, Line 4: To provide scholarships for students. Part V, Line 1e, column (c) - This is a prior period adjustment of -$1,692,807 to remove assets that were included as an irrevocable trust. Part XI, Line 4b - Other Adjustments: Student aid 15,710,184. Part XII, Line 4b - Other Adjustments: Student aid 15,710,184. Form 990, Schedule D, Part V, Lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Schedule D has not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Published in The Oregonian newspaper and on Corban University's website. Schedule E, Part I, Line 6 Student attending the University may obtain financial assistance from grants and other programs. These programs include Federal Work Study, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and Federal Direct Loan Program. Central America and the Caribbean 0 0 Program Services Mission trips 55452 South America 0 0 Program Services Mission trips 10789 Europe 0 0 Program Services Mission trips 34989 0 0 0 0 0 0 101230 0 101230 0 0 0 0 0 0 Part I, line 3: Expenditures are accounted for using the accrual method of accounting. 1 Student Scholarships and Grants 1203 15710184 Part I, Line 2: The organization utilizes financial aid software and a monitoring system to ensure that aid is awarded properly according to university, state, and federal guidelines. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Sheldon Nord President 249569 0 0 0 17528 0 0 0 11179 0 278276 0 0 0 Steve Sammons VP for Strategic Initiatives 118505 0 0 0 0 0 0 0 49919 0 168424 0 0 0 Part I, Line 1a A taxable housing allowance is provided for the President. Patty Roth Trustee Construction costs X 100000 100000 0 1 1 D Nicholson Family Trust Trustee Construction costs X 110000 110000 0 1 1 210000 Form 990, Part VI, Section A, line 1 The Executive Committee is composed of the Board committee chairs. The Executive Committee shall conduct Trustee business before and between regular Board meetings if necessary as well as bring important information and recommendations to the full Board. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm. The Form 990 is reviewed in detail by the Finance Committee of the Board of Trustees. A copy of the return is sent to the board prior to filing. Form 990, Part VI, Section B, line 12c Board members and officers sign annual conflict of interest statements that are reviewed by the Board Development Chair. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 The Finance Committee of the Board of Trustees reviewed compensation for the renewal of the contract of the President of the University in 2018. They examined the compensation of similar institutions and made recommendations to the Board of Trustees. The Board approved the contract before being issued and signed by the President of the University, and the approval process is documented in the Board minutes. Compensation for other officers is reviewed by the President and Human Resource Director using comparability data. The process is documented with HR. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part X, Lines 27-29: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $5,888,539 Line 29 - Net assets with donor restrictions 2,570,521 Total net assets $8,459,060 Form 990, Part XII, Line 2c: The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.