2019-03-26T17:42:59-05:00 2018-06-30 BKD LLP 190 E Capitol Street Ste 500 Jackson MS 392012190 990 2017-07-01 640303069 Belhaven University % DAVID TARRANT BELH 6019688705 1500 Peachtree Street Jackson MS 39202 DAVID TARRANT CFO 6019688705 2019-02-28 true Fatima Chase CPA P01677201 6019486700 167.68.126.162 64248120190855000035 2019-03-26 P 2757EB9AC7A365458E80375C63EF7E13548AC312 468D4A6F67C914A138C9D1D024C98E150145FE59 2017 2019-02-21 02:37:17Z DAVID TARRANT 1500 Peachtree Street Jackson MS 39202 62258733 false X WWW.BELHAVEN.EDU X 1883 MS BELHAVEN UNIVERSITY (BELHAVEN) IS A CHRISTIAN LIBERAL ARTS UNIVERSITY DEDICATED TO EXCELLENCE IN CHRISTIAN HIGHER EDUCATION. 31 29 1278 29 134355 394 2063186 2136600 59787834 58495624 294352 241035 919693 657739 63065065 61530998 15219318 14546705 0 0 26608765 27512680 0 0 409494 20783701 21523296 62611784 63582681 453281 -2051683 70491405 67977275 28901603 32051169 41589802 35926106 BELHAVEN UNIVERSITY PREPARES STUDENTS ACADEMICALLY AND SPIRITUALLY TO SERVE JESUS CHRIST IN THEIR CAREERS, IN HUMAN RELATIONSHIPS, AND IN THE WORLD OF IDEAS. false false 50269305 14546705 54165637 BELHAVEN UNIVERSITY (BELHAVEN), IS A CHRISTIAN LIBERAL ARTS UNIVERSITY DEDICATED TO EXCELLENCE IN CHRISTIAN HIGHER EDUCATION. BELHAVEN'S RICH LEGACY WITH A CHRISTIAN CURRICULUM IS CENTERED ON THE BIBLICAL WORLDVIEW. THIS UNIQUE WORLDVIEW CURRICULUM SEAMLESSLY INTERTWINES HISTORY, LITERATURE, ART, MUSIC, AND PHILOSOPHY INTO A CHRONOLOGICAL CORE CURRICULUM FOR ALL INCOMING FRESHMEN AND SOPHOMORES. BELHAVEN HAS RECEIVED NATIONAL RECOGNITION FOR ITS ACADEMIC PROGRAMS AND AFFORDABILITY, AND THE COLLEGE HAS EARNED REGIONAL ACCREDITATION BY THE COMMISSION ON COLLEGES OF THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS (SACS). BELHAVEN IS NATIONALLY ACCREDITED IN ALL FOUR OF THE ARTS: DANCE, MUSIC, THEATRE, AND VISUAL ART. OFFERING 27 UNDERGRADUATE MAJORS AND A 12:1 STUDENT TO FACULTY RATIO FOR THE TRADITIONAL UNDERGRADUATE PROGRAM, BELHAVEN PROVIDES A CLOSE-KNIT LEARNING COMMUNITY WHERE STUDENTS SEE THE COLLEGE'S VISION AND MISSION LIVED OUT IN THE LIVES OF FACULTY MEMBERS. FOR NON-TRADITIONAL, WORKING ADULTS, BELHAVEN ALSO OFFERS ADULT AND GRADUATE DEGREE PROGRAMS IN JACKSON, AS WELL AS IN SOUTHAVEN, MS, ATLANTA, CHATTANOOGA, HOUSTON, ORLANDO, AND MEMPHIS. ACCREDITED ONLINE DEGREE PROGRAMS ARE ALSO AVAILABLE FOR STUDENTS WHO DESIRE DISTANCE LEARNING WITH A CHRISTIAN CURRICULUM. BELHAVEN HAS AN ENROLLMENT OF APPROXIMATELY 5,000 STUDENTS, INCLUDING APPROXIMATELY 4,000 STUDENTS ENROLLED IN ITS NONTRADITIONAL PROGRAM. 1607781 4481158 AUXILIARY EXPENSES-DORMITORIES, CAFETERIA, VENDING MACHINES, BOOKSTORE AND POST OFFICE. 51877086 true true false false false false false true false true true false false false true false true false true false false false false false false false false false true true false false false true false false false true true false false false false false false false false true 68 0 1278 true true true false false false false false false false false false false false false X 31 29 true false false false false false false true true false false true true true true true true true false false X DAVID TARRANT 6019688778 1500 PEACHTREE STREET JACKSON MS 39202 James M Bateman Trustee 1.0 0.0 X 0 0 0 L Forrest Berry Trustee 1.0 0.0 X 0 0 0 Kevin Brown Trustee 1.0 0.0 X 0 0 0 Charles Cannada Trustee 1.0 0.0 X 0 0 0 Samuel M Lane Trustee 1.0 0.0 X 0 0 0 Charles Doty Trustee 1.0 0.0 X 0 0 0 Stephen M Edwards Trustee 1.0 0.0 X 0 0 0 F Earl Fyke III Trustee 1.0 0.0 X 0 0 0 Doug Hederman Trustee 1.0 0.0 X 0 0 0 Jimmy Hood Trustee 1.0 0.0 X 0 0 0 Wayne Husband Trustee 1.0 0.0 X 0 0 0 Verne Kennedy Trustee 1.0 0.0 X 0 0 0 Rev Jay Kyle Trustee 1.0 0.0 X 0 0 0 Liza C Looser Trustee 1.0 0.0 X 0 0 0 Virginia W Morris Trustee 1.0 0.0 X 0 0 0 Leisha Pickering Trustee 1.0 0.0 X 0 0 0 Hugh Potts Jr Trustee 1.0 0.0 X 0 0 0 Karen Taylor Trustee 1.0 0.0 X 0 0 0 Dr W Lynn Stringer Trustee 1.0 0.0 X 0 0 0 Gaines P Sturdivant Trustee 1.0 0.0 X 0 0 0 Alan Walters Trustee 1.0 0.0 X 0 0 0 Richard Whitlock Trustee 1.0 0.0 X 0 0 0 Dolphus Weary Trustee 1.0 0.0 X 0 0 0 Calvin Wells Trustee 1.0 0.0 X 0 0 0 Richard Wilson Jr Trustee 1.0 0.0 X 0 0 0 Mark Windham Trustee 1.0 0.0 X 0 0 0 Jerry Young Trustee 1.0 0.0 X 0 0 0 Michael Harrell Trustee 1.0 0.0 X 0 0 0 Peter Jernberg Trustee 1.0 0.0 X 0 0 0 Robbie Hughes Trustee 1.0 0.0 X 0 0 0 William Taylor III Trustee 1.0 0.0 X 0 0 0 Roger Parrott President 40.0 0.0 X 432374 0 110268 Daniel Fredericks Provost 40.0 0.0 X 160568 0 16794 Kevin Russell VP for Enrollment & Univ Mktg 40.0 0.0 X 115823 0 20082 Audrey Kelleher VP for Adult & Grad Enrollment 40.0 0.0 X 135886 0 11421 Scott Little VP for Stud Affairs & Athletic 40.0 0.0 X 117259 0 10186 Jeffrey L Rickels VP for University Advancement 40.0 0.0 X 120357 0 9118 David Tarrant CFO 40.0 0.0 X 67691 0 10995 Hal Mumme Head Football 40.0 0.0 X 116213 0 4461 1266171 0 193325 7 false true false 0 2136600 42785 2136600 Tuition & Fees 611310 54165637 54165637 Auxiliary Enterprises 611710 13556 13556 Housing Revenue 721310 4316431 4316431 58495624 286438 286438 0 0 331812 331812 0 331812 331812 -51687 108508 102224 -51687 6284 -45403 -45403 0 0 0 0 0 0 842739 625511 217228 217228 Miscellaneous Revenues 900099 151171 151171 Camp Meals 722320 134355 134355 Loss on Refinance 900099 -176827 -176827 108699 61530998 58646795 134355 613248 0 14546705 14546705 0 0 1453125 434531 883765 134829 0 22196570 18245975 3801770 148825 947503 798335 140582 8586 1301413 1121389 173164 6860 1614069 1291255 306673 16141 0 106182 106182 147535 147535 0 0 93632 93632 128825 48323 80502 2681702 2505649 176053 1600360 1354703 229625 16032 0 0 3350476 2172693 1173932 3851 884962 746468 135137 3357 0 199216 158506 37464 3246 1001339 793257 202053 6029 0 3363137 2664263 678624 20250 595430 595430 CONTRACT EXPENSE 2916758 2677659 220795 18304 BAD DEBT EXPENSE 1564075 1564075 DEPARTMENTAL EXPENSE 1008476 828600 171819 8057 BOOK PURCHASES 492878 492878 1388313 995897 377289 15127 63582681 51877086 11296101 409494 1027603 516787 0 0 68119 219000 2341641 2158187 82917 118917 0 0 858380 737322 624119 762368 186795 161731 99414683 42262670 59264902 57152013 5931387 6028097 71746 68082 0 0 0 0 33796 54771 70491405 67977275 1548446 993462 0 0 7875 4234243 13955331 0 0 0 0 0 11910271 25184662 0 0 1479680 1638802 28901603 32051169 X 33306622 27063615 3612576 4092428 4670604 4770063 41589802 35926106 70491405 67977275 X -2051683 101557 -3590991 -122579 X false true true true true X 6982553 4198533 5112796 2063186 2136600 20493668 0 0 6982553 4198533 5112796 2063186 2136600 20493668 7607118 12886550 926006 571816 519356 471062 618250 3106490 0 453622 399872 509679 680623 325927 2369723 25969881 280094616 0.49621 0.54060 X 152000 X X DISPLAYED IN UNIV LIBRARY false 5441893 99459 303547 273000 16459 28843 5526597 5109323 102200 402916 269000 -125481 29027 5441893 4894350 220050 131780 135000 -26165 28022 5109323 4824162 106206 103585 106206 33397 4894350 4189398 75215 662386 75215 27622 4824162 0.00000 0.19670 0.80330 false false 2610409 2610409 68797800 22938933 45848867 26677558 19100004 7577554 1338916 223733 1115183 57152013 0 Obligation Under Interest Rate Swap 244306 Funds Held For Others 39870 Annuities Payable 100758 Advances from Government 749391 Deferred Lease Liability 404590 Security Deposits 99887 1638802 48857532 101557 -13577361 -13475804 62333336 -802338 -802338 61530998 50930237 802338 802338 50127899 13454782 13454782 63582681 SCHEDULE D, PART III, LINE 4 THE UNIVERSITY'S WARREN A. HOOD LIBRARY ON THE UNIVERSITY'S CAMPUS, PERMANENTLY DISPLAYS A BOEHM PORCELAIN BIRD COLLECTION. ALSO ON DISPLAY THROUGHOUT THE BUILDING ARE NUMEROUS PIECES FROM THE BELHAVEN PERMANENT ART COLLECTION. SCHEDULE D, PART V, LINE 4 BELHAVEN UNIVERSITY'S ENDOWMENT FUNDS ARE MADE UP OF ENDOWED SCHOLARSHIPS. ENDOWED SCHOLARSHIPS ARE ESTABLISHED AND NAMED BY INDIVIDUAL DONORS WISHING TO PROVIDE PERPETUAL ASSISTANCE TO BELHAVEN STUDENTS. SCHOLARSHIPS ARE AWARDED BY THE OFFICE OF STUDENT FINANCIAL PLANNING IN ACCORDANCE WITH THE CRITERIA ESTABLISHED BY THE DONOR. ENDOWED SCHOLARSHIPS ARE DESIGNED TO PRESERVE AND GROW THE ORIGINAL PRINCIPAL BY PAYING OUT MINIMAL SCHOLARSHIP AMOUNTS EACH ACADEMIC YEAR AND ACCUMULATING ANY EXCESS EARNINGS. SCHEDULE D, PART XI, LINE 2D LOSS ON INTEREST RATE SWAP: ($122,579) SCHOLARSHIPS & FINANCIAL AID: ($13,454,782) TOTAL DIFFERENCE= ($13,577,361) Schedule D, Part XI Line 4b COST OF GOODS SOLD: ($625,511) LOSS ON REFINANCING DEBT: ($176,827) TOTAL DIFFERENCE: ($802,338) Schedule D, Part XII Line 2d COST OF GOODS SOLD: $625,511 LOSS ON REFINANCING DEBT: $176,827 TOTAL DIFFERENCE: $802,338 Schedule D, Part XII Line 4b SCHOLARSHIPS & FINANCIAL AID: $13,454,782 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATORY POLICY IS STATED IN ALL BROCHURES, CATALOGS, ETC. THAT ARE DISTRIBUTED TO STUDENTS, PROSPECTIVE STUDENTS, AND OTHERS. THE POLICY STATES,"BELHAVEN UNIVERSITY DOES NOT DISCRIMINATE IN THE ADMINISTRATION OF ITS EDUCATION POLICIES, APPLICATIONS FOR ADMISSION, OR SCHOLARSHIP AND LOAN PROGRAMS. THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES OF BELHAVEN UNIVERSITY ARE MADE AVAILABLE TO ALL STUDENTS WHO ARE ENROLLED REGARDLESS OF SEX, RELIGION, COLOR, NATIONAL ORIGIN, HANDICAP, OR AGE." SCHEDULE E, PART I, LINE 6A BELHAVEN RECEIVED FINANCIAL AID FROM THE US DEPARTMENT OF EDUCATION. Expenditures of federal awards for the year ended June 30, 2018 were $51,310,838. true Scholarships & Grants 1583 14546705 SCHEDULE I, PART I, LINE 2 THE UNIVERSITY MAINTAINS STUDENT FINANCIAL AID RECORDS AND FOLLOWS APPROPRIATE SELECTION CRITERIA FOR ALL GRANTS AND ASSISTANCE AWARDED TO STUDENTS. THE UNIVERSITY HAS AN ANNUAL COMPLIANCE AUDIT CONDUCTED IN ACCORDANCE WITH OMB CIRCULAR A-133 EACH YEAR. FOR THE YEAR ENDED 6/30/2018, THE AUDIT REPORTED THAT THE UNIVERSITY COMPLIED, IN ALL MATERIAL RESPECTS, WITH THE COMPLIANCE REQUIREMENTS OF ITS MAJOR FEDERAL PROGRAMS. X true true X X X false false false false false false false false false Roger Parrott President 432374 0 0 21600 88668 542642 0 Daniel Fredericks Provost 160568 0 0 13047 3747 177362 0 SCHEDULE J, PART I, LINE 1A THE PRESIDENT RECEIVES A HOUSING ALLOWANCE AS AN ORDAINED MINISTER. Dr Roger Parrot OFFICER Housing Loan X 245000 65000 false true true Virginia Henderson OFFICER Housing Loan X 23000 3917 false true true David Tarrant OFFICER Housing Loan X 50000 50000 false true true 118917 See Part V See Part V 1388685 Dining Services false Schedule L, Part IV, Line 1 MMI Dining Systems, LLC- Board members, Gaines P. Sturdivant and Cal Wells, are greater than 35% owners of MMI Dining Systemes, LLC. MMI Dining Systems, LLC was also a substantial contributor to the University during the year. X 1000 42785 STOCK QUOTE true false false FORM 990, PART VI, SECTION A, LINE 2 DIRECTORS, GAINES P. STURDIVANT AND CAL WELLS HAD A BUSINESS RELATIONSHIP DURING THE TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 IS SENT VIA EMAIL TO EACH MEMBER OF THE EXECUTIVE COMMITTEE. EACH MEMBER OF THE BOARD ALSO RECEIVES A COPY OF THE FORM 990 TO REVIEW AND APPROVE BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY BY REQUIRING ALL TRUSTEES AND OFFICERS TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE QUESTIONNAIRE. THE QUESTIONNAIRE IS REVIEWED BY THE EXECTIVE COMMITTEE AND THE PRESIDENT. IF A CONFLICT ARISES THE INTERESTED MEMBER IS REQUIRED TO DISCLOSE THE CONFLICT/POTENTIAL CONFLICT. FURTHERMORE, THE INTERESTED MEMBER IS PROHIBITED FROM VOTING ON ANY MATTERS RELATED TO THE CONFLICT/POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE PRESIDENT IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. THE PRESIDENT REVIEWS AND APPROVES COMPENSATION OF TOP MANAGEMENT AND OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9 Loss on Interest Rate Swap: ($122,579)