2019-05-12T14:12:55-05:00 2018-06-30 363990892 Capin Crouse LLP 3050 Saturn Street Suite 104 Brea CA 92821 990 2017-07-01 951644035 Point Loma Nazarene University POIN 6198492200 3900 Lomaland Drive San Diego CA 92106 George R Latter Jr VP of Finance 6198492200 2019-05-12 1 David C Moja P00747006 7145770988 139.146.132.42 2019-05-12 15:28:12 ED P 9C0C19C1CF2DE2E96EB7E674A7C6736B3EF0868B CB2459780E3642F1C947A578E758F0D0C14F9328 2017 2019-02-21 02:37:17Z Robert Brower 3900 Lomaland Drive San Diego CA 92106 144249874 0 X www.pointloma.edu X 1918 CA Non-profit Christian university. 23 21 2505 24 0 605 5748838 4871806 129225758 137953607 793203 1408032 0 -559032 135767799 143674413 26755656 30494051 0 0 59015071 62603254 40094 65425 1611794 36311595 39996634 122122416 133159364 13645383 10515049 171516565 183595272 70060305 70648811 101456260 112946461 X See Schedule OPoint Loma Nazarene University exists to provide higher education in a vital Christian community where minds are engaged and challenged, character is modeled and formed, and service becomes an expression of faith. We aspire to be a learning community where grace is foundational, truth is pursued, and holiness is a way of life. 0 0 71809528 30494051 114524153 Instructional activities, including student aid, prepare students to address the complex issues facing our world today with integrity and forward thinking. PLNU graduates enter the workforce prepared to influence our world for good. PLNU serves more than 4,600 students offering more than 50 undergraduate areas of study and 12 graduate programs throughout Southern California. 32084473 19726651 Student Services enriches the student experience and resources like the Offices of Strengths and Vocation, the Wellness Center, Outdoor Leadership and Recreation, Spiritual Development, and Student Financial Services. 7936919 3702803 Academic Support bolsters PLNU students' academic experience through resources like the Tutorial Center, PLNU's Ryan Library, Information Technology Services, and Media and Technology. 111830920 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 1 0 0 0 1 288 0 1 2505 1 1 1 0 0 0 0 1 1 0 0 0 0 X 23 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Jim Bergherm 6198492429 3900 Lomaland Drive San Diego CA 92106 Robert Brower President 40.00 1.00 X X 342950 0 45323 Douglas Pierce Chair 1.00 X X 0 0 0 Rick Power Vice Chair 1.00 X X 0 0 0 Mary Leland Secretary 1.00 X X 0 0 0 Steven R Scott Trustee 1.00 1.00 X 0 0 0 Jan Stone Trustee 1.00 X 0 0 0 Craig K Furusho Trustee 1.00 X 0 0 0 Larry Fry Trustee 1.00 X 0 0 0 Jose Hernandez Trustee 1.00 X 0 0 0 John Nells Trustee 1.00 X 0 0 0 Donald R Schengel Trustee 1.00 X 0 0 0 Orlando R Serrano Trustee 1.00 X 0 0 0 Rob Songer Trustee 1.00 X 0 0 0 Mendell Thompson Trustee 1.00 1.00 X 0 0 0 Carol Van Buskirk Trustee 1.00 X 0 0 0 Daryl C Nicholson Trustee 1.00 1.00 X 0 0 0 Cindy Zabuska Trustee 1.00 X 0 0 0 Gary Smee Trustee 1.00 1.00 X 0 0 0 Maria Covarrubias Trustee 1.00 1.00 X 0 0 0 Joy Straub Trustee 1.00 X 0 0 0 Dan Spaite Trustee 1.00 X 0 0 0 Ken Baruth Trustee 1.00 X 0 0 0 Dan Chung Trustee 1.00 X 0 0 0 Tom Battin Part Year Trustee 1.00 X 0 0 0 Ira F Brown Part Year Trustee 1.00 X 0 0 0 George R Latter Jr VP of Finance 40.00 1.00 X 199038 0 33247 Kerry Fulcher Provost 40.00 X 199754 0 47499 Alison Reaser Chief Economist 40.00 X 253744 0 29165 Catherine Smith VP of Student Dev. 40.00 X 162538 0 37762 Michael Leih Associate Professor 40.00 X 143541 0 19701 Maria Zack Department Chair 40.00 X 145659 0 13976 Corey Fling Chief Information Officer 40.00 X 144025 0 34428 1591249 0 261101 97 0 1 0 Sodexo Dept 880328 Los Angeles CA 90088 Food Services 5446702 Bycor General Contractors Inc 6490 Marindustry Dr Suite A San Diego CA 921212563 Construction/Remodel 4122935 Carrier Johnson CULTURE 1301 3rd Avenue San Diego CA 92101 Construction/Remodel 416819 Pacific Rim Mechanical 7655 Convoy Court San Diego CA 92111 Building Maintenance 388009 IBM Corporation PO Box 534151 Atlanta GA 30353 Consultant 368316 18 530814 4340992 189263 4871806 Tuition and fees 611710 114524153 114524153 Auxiliary revenue 611710 19726651 19726651 Other program revenue 611710 3702803 3702803 137953607 1411633 1411633 3601 -3601 -3601 -3601 12828 530814 571860 -559032 -559032 143674413 137953607 0 849000 2108608 2108608 28385443 28385443 872915 126202 669734 76979 72258 72258 49822838 41625897 7295565 901376 2657354 2223581 388478 45295 5204453 4161887 926916 115650 3973436 3153065 756346 64025 120137 18482 101263 392 135780 135780 65425 65425 5520253 2616818 2903435 1941646 1727214 180646 33786 2779205 2161470 610532 7203 2066744 1168289 793701 104754 5581226 3517871 2063355 2863972 2360296 431162 72514 350552 232822 83875 33855 2133364 2065240 51274 16850 6686519 6461981 172943 51595 566445 374614 189651 2180 Cafeteria Contractor 4694680 4161695 532985 Equipment Rental 1739909 1449239 274975 15695 Equipment 977537 476830 496487 4220 1838665 1181118 657547 133159364 111830920 19716650 1611794 7139348 7278365 17523752 26966485 5083184 3955623 5667877 5411811 4077151 3826856 612546 1575028 170283714 65749273 101715851 104534441 29501712 29902029 195144 144634 171516565 183595272 7649837 7240840 6974345 6941773 46335237 44869222 3185575 3299832 5915311 8297144 70060305 70648811 X 95487711 108286700 5920090 4611302 48459 48459 101456260 112946461 171516565 183595272 X 10515049 -500544 1475696 X X 0 1 X 1 1 1 X 5722627 6045327 5330038 5748838 4871806 27718636 5722627 6045327 5330038 5748838 4871806 27718636 203982 27514654 400117 592173 696102 764880 1411633 3864905 1605 1605 12828 12828 31597974 601289515 0.87080 0.89880 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Event Fees - 2017 Amount: $ 12,828. 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 that the School qualifies under public charity status section (170(b)(1)(A)(vi) and qualifies to use the first listed special rule for Schedule B reporting. 55740428 3676193 2744985 1028389 61133217 51408918 1506170 3773586 948246 55740428 51961162 1712902 -777398 365291 1122457 51408918 47361554 5208162 -211742 396812 51961162 39529525 4463810 4707748 556126 449625 386549 47308783 0.57990 0.42010 0 1 1 7658667 7658667 138527525 50514052 88013473 14580750 9651084 4929666 9516772 5584137 3932635 104534441 Fair value of swap agreement liability 4408055 Payable to related exempt organization 3889089 8297144 Part V, Line 4: Provide scholarship funds and support the general operations of the Foundation and University. 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 annually in The San Diego Union-Tribune. Schedule E, Part I, Line 6 The University receives funding from the federal government, and as a result, is required to comply with various regulations related to those funding programs. Schedule E, line 5d: Some scholarships awarded from the endowment fund are specified for certain groups, such as Hispanics, Laotians, and Hawaiians. X X X X X X X 1 Westfall Group PO Box 341 Suwanee GA 30024 Fundraising and event management 0 519990 65425 454565 519990 65425 454565 AL AR CA FL HI IL IN IA KY MD MI MN MS NH NJ NY NC ND OK PA RI SC TN UT VA WV MA President's Gathering 419995 419995 130580 166707 105880 167193 CJR Hope Rising 85047 81399 3648 2 38600 29420 9180 1500 543642 530814 12828 130580 166707 107380 167193 571860 -559032 1 Point Loma Nazarene University Foundation 3900 Lomaland Drive San Diego CA 92106 953948691 2108608 To Support the University Student Scholarships/Awards 2370 28385443 Part I, Line 2: The University awards grants, scholarships & student loans based on various, predefined criteria. Students must qualify for the assistance. Student enrollment and continuing eligibility are verified on an ongoing basis. The University also grants funds to its supporting organization, Point Loma Nazarene University Foundation. The use of these funds is monitored through direct oversight of the Foundation. The finance department of the University maintains the books and records of the Foundation. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Robert Brower President 334372 0 641 0 7937 0 21600 0 24803 0 389353 0 0 0 George R Latter Jr VP of Finance 198406 0 632 0 0 0 16058 0 17452 0 232548 0 0 0 Kerry Fulcher Provost 199122 0 632 0 0 0 16038 0 32100 0 247892 0 0 0 Alison Reaser Chief Economist 220703 0 641 0 32400 0 17338 0 12339 0 283421 0 0 0 Catherine Smith VP of Student Dev. 161906 0 632 0 0 0 13166 0 25106 0 200810 0 0 0 Michael Leih Associate Professor 97058 0 632 0 45851 0 11545 0 8377 0 163463 0 0 0 Maria Zack Department Chair 145027 0 632 0 0 0 11235 0 14486 0 171380 0 0 0 Corey Fling Chief Information Officer 143393 0 632 0 0 0 12068 0 22904 0 178997 0 0 0 Part I, Line 1a The University allows members of the Board of Trustees to bring their spouse to one of the two annual meetings each year. The University will pay the spouse's travel expenses and it is reportable as compensation. The University provides housing for the Chief Economist. This housing is paid for directly by the University and is treated as taxable wages included in reportable compensation. The University reimburses the President for the cost of house cleaning or landscaping expenses when his residence is used for University business. A California Municipal Finance Authority 201563466 2014-05-01 30010000 Variable rate loan - Refinance of the 12/20/11 Bonds 0 0 0 B California Municipal Finance Authority 201563466 2014-05-01 19874975 Fixed rate loan - Construction of new science building 0 0 0 A 30010000 2009 1 0 1 1 B 19874975 278717 19596258 2018 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 Form 990, Schedule K, Part I, Variable Rate Bond Issue: The CMFA variable rate loan was used to fully refund a prior tax exempt issue. A Form 8038-T was completed and sent to the IRS at the time of refunding of the prior issue. Robert Brower Officer of the University Housing Equity Agreement X 365400 365400 0 1 1 George Latter Jr Officer of the University Housing Equity Agreement X 58000 58000 0 1 1 Kerry Fulcher Key employee of the University Housing Equity Agreement X 325000 325000 0 1 1 DRC Partners Trustee Daryl Nicholson is the owner of DRC Partners. Business loan X 5000000 4663411 0 1 1 5411811 Alisha Brower Family of Robert Brower, President 31924 W2 Employee 0 DRC Partners Trustee Daryl Nicholson is a partner of DRC Partners. 275329 Rental income for space leased to PLNU 0 Kenny Ortega Family of Kerry Fulcher, Provost 40334 W2 Employee 0 Schedule L Part II, Explanation of loan to DRC Partners: During the tax year ended 6/30/2015, the University made a $3,500,000 loan to DRC Partners. There was no similar loan in prior years. Legal counsel was consulted during the formation of the loan. In February 2017 this loan was increased to $5,000,000. X 2 11500 Experts/Fair Market Val. X 20 Cost X 1042 Fair Market Value X 4 116442 Fair Market Value X 1 24000 Fair Market Value X 6 7373 Cost X 1 900 Cost X 1 12000 Experts/Fair Market Val. X Recreational Experiences/Services (dining, recreation, golf, etc) 2 9183 Cost X Building Materials 1 4703 Cost X Musical Instruments/Equip. 2 2100 Cost 0 1 0 Part I, Column (b): The number of contributions reported is the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The governing board has an executive committee which, with several specific exceptions, has the authority to act for the board on all matters should the executive committee determine that it would be imprudent wait for the next board meeting to take action. The committee is composed of the chairs of the standing committees (except for the audit and risk management committees), the university president, the president of the PLNU Foundation and the officers of the board (the chair, vice chair, and secretary.) The board, through its policy manual and various adopted resolutions, has delegated specific levels of responsibility and authority to the university president in order to enable him and others at the university to make timely operational decisions. The president works with an administrative cabinet that has been hired by the president and approved by the board in carrying out his delegated responsibilities and in operating the university on a day to day basis. The administrative cabinet is composed of the university president, the vice president of finance and administration, the vice president for external relations, the vice president for spiritual development, the vice president for student development, the vice president for university advancement, and the provost. The only individual who also serves as a member of the governing body is the university president. Form 990, Part VI, Section A, line 2 Daryl Nicholson and Gary Smee - Business relationship. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm, reviewed in detail by the finance team, and distributed to the board of trustees prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c Conflict of interest statements are completed annually by all members of the governing body. The statements are reviewed by the Chairman of the Audit Committee of the Board of Trustees. The finance team is also monitoring all transactions for potential conflicts of interest. Form 990, Part VI, Section B, line 15 Each year at the spring board meeting of the University's Board of Trustees, the Executive Committee of the board receives a report in executive session from the Associate Vice President for Human Resources which compares the salaries of the University President and senior administrators (the Administrative Cabinet) to salaries for similar positions using four different salary surveys. Following discussion of this information, the Executive Committee takes action to set the salaries of the President and Administrative Cabinet for the following year, subject to approval of the full board, and records this action in the minutes of its meeting. Form 990, Part VI, Section C, line 19 The organizing documents, conflict of interest policy, and the financial statements are available upon request. Form 990, Part XI, line 9: Adjustment to swap agreement liability 1,475,696. Form 990, Part XII, line 2c: The University Board of Trustees has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year. Point Loma Nazarene University Foundation 3900 Lomaland Drive San Diego CA 92106 953948691 Support Point Loma Nazarene University CA 501(C)(3) Line 11c - Type I N/A 0 Charitable Remainder Trust (1) CA 0 Charitable Remainder Unitrust (5) CA 0 Charitable Remainder Annuity Trust (1) CA 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 Point Loma Nazarene University Foundation B Point Loma Nazarene University Foundation N Point Loma Nazarene University Foundation O