2019-05-20T09:51:12-05:00 2018-06-30 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2017-07-01 550357072 ALDERSON BROADDUS UNIVERSITY INC ALDE 3044571700 101 COLLEGE HILL DRIVE BOX 2004 PHILIPPI WV 264166004 JEFF ROGERS CFO 3044571700 2019-05-15 1 LAURIE HANSON P00851848 6053391999 2019-05-15 199.247.43.86 2019-05-15 16:20:46 CD P BCC7DF2A838E86703654F11017E75D232FBEC976 401A7809F2AA56B1FE621E55666FA95C3E42E950 2017 2019-02-21 02:37:17Z JEFF ROGERS 101 COLLEGE HILL DRIVE BOX 2004 PHILIPPI WV 264166004 35645973 0 X WWW.AB.EDU X 1861 WV PROVIDE HIGHER LEARNING OPPORTUNITIES TO STUDENTS. 17 13 1023 16 0 0 3072674 1610566 33330388 32198362 154565 -20034 299838 1093215 36857465 34882109 13378165 13093220 0 0 11664243 11405368 0 0 387232 14436462 14176013 39478870 38674601 -2621405 -3792492 60248377 59528035 47263225 50916494 12985152 8611541 X ALDERSON-BROADDUS UNIVERSITY IS AN INDEPENDENT INSTITUTION OF HIGHER LEARNING, COMMITTED TO SERVING THE REGION AS AN ACADEMIC, CULTURAL, AND RELIGIOUS RESOURCE, WITH PROGRAMS BASED ON A STRONG LIBERAL ARTS FOUNDATION. THE UNIVERSITY IS ROOTED IN HISTORIC AND CONTINUING RELATIONSHIPS WITH THE WEST VIRGINIA BAPTIST CONVENTION AND THE AMERICAN BAPTIST CHURCHES USA. 0 0 31241558 13093220 33130511 PROVIDED HIGHER EDUCATION COLLEGE LEVEL LEARNING OPPORTUNITIES TO APPROXIMATELY 1,020 STUDENTS. 31241558 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 21 0 1 1023 1 0 0 0 0 0 0 0 0 0 0 X 17 13 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 X JEFF ROGERS 3044571700 101 COLLEGE HILL DRIVE BOX 2004 PHILIPPI WV 26416 X DR RONALD L BURBICK CHAIR 1.00 1.00 X X 0 0 0 MRS REBECCA A HOOMAN VICE CHAIR 1.00 1.00 X X 0 0 0 MR JOHN W EBERT TREASURER 1.00 1.00 X X 0 0 0 MR HARRY G SHAFFER III ESQ SECRETARY 1.00 1.00 X X 0 0 0 DR JAMES TIM BARRY TRUSTEE 40.00 1.00 X X 0 0 0 MR MATTHEW G BALLARD TRUSTEE 1.00 0.00 X 0 0 0 DR JEAN A CUNNINGHAM TRUSTEE 1.00 0.00 X 0 0 0 MR WORTH M HELMS TRUSTEE 1.00 0.00 X 0 0 0 MRS JANE E HARKINS ESQ TRUSTEE 1.00 0.00 X 0 0 0 MR THOMAS S HECKMAN TRUSTEE 1.00 0.00 X 0 0 0 MRS VALERIE A WOODRUFF TRUSTEE 1.00 0.00 X 0 0 0 REV DR MARILYN TURNER TRUSTEE 1.00 0.00 X 0 0 0 MRS LISA Q LANG TRUSTEE 1.00 0.00 X 0 0 0 MR JAMES J MORRIS TRUSTEE 1.00 1.00 X 0 0 0 MR ROBERT OSBORNE TRUSTEE 1.00 0.00 X 0 0 0 DR KAREN K RAINEY TRUSTEE 1.00 0.00 X 0 0 0 MR ARNOLD D SCOTT ESQ TRUSTEE 1.00 1.00 X 0 0 0 MR DENNIS STARK INTERIM CFO 40.00 1.00 X 0 0 0 DR ROBERT S BUCKINGHAM DEAN OF OPTOMETRY PROGRAM 40.00 0.00 X 176527 0 13761 THOMAS MOORE DEAN OF PHYS ASSISTANT PROGRAM 40.00 0.00 X 115148 0 6904 291675 0 20665 2 0 1 0 SODEXO OPERATIONS LLC 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 FOOD SERVICE MANAGEMENT 2539524 HIGHMARK WEST VIRGINIA PO BOX 382153 PITTSBURG PA 15251 HEALTH INSURANCE 764609 EIIA GLAHIT CLAIMS 200 SOUTH WACKER DRIVE CHICAGO IL 60606 PROPERTY AND LIABILITY INSURANCE 400216 REGISTRY FOR COLLEGE & UNIVERSITY PRESID 3 CENTENNIAL DR PEABODY MA 01960 CONTRACT LEASED EMPLOYEES 356050 INDEPENDENT COLLEGE ENTERPRISE 2300 MACCORKLE AVE SE CHARLESTON WV 25303 COMPUTER SYSTEM 203199 8 350972 1259594 51710 1610566 TUITION AND FEES 611600 25633261 25633261 AUXILIARY SERVICES 541800 6557554 6557554 7547 7547 32198362 118172 118172 54996 54996 160494 0 160494 160494 160494 350000 2399 349046 141559 954 -139160 -138206 -138206 400984 273259 127725 127725 INSURANCE PROCEEDS 909999 750000 750000 750000 34882109 33076087 0 195456 13093220 13093220 9360395 8051497 1065972 242926 338805 275150 49911 13744 1084898 910918 148733 25247 621270 529104 74849 17317 199380 199374 6 31282 31282 184909 184909 1209574 139666 1069908 28453 10861 16701 891 1162402 874922 226490 60990 105752 100403 5349 1820257 1800719 19497 41 1009251 871935 112386 24930 2885630 2885630 1807949 1419234 388715 382332 142596 239736 FOOD SERVICE 2203938 2203938 BAD DEBT 370895 370895 LIBRARY BOOKS/PERIODICA 71039 71039 702970 176087 525737 1146 38674601 31241558 7045811 387232 837942 422370 4735313 3882937 579910 1516852 181648 181068 115926 130530 77024928 32080001 46694379 44944927 3222754 4473359 2159602 2177900 1720903 1798092 60248377 59528035 6376151 9062052 1231860 1997638 34310319 34345122 1480000 1580000 1556959 1676421 54429 28361 2253507 2226900 47263225 50916494 X -14465542 -19489125 8591906 8851173 18858788 19249493 12985152 8611541 60248377 59528035 X -3792492 213288 -793041 -1366 X 0 1 X 1 0 X 17923351 159771 67264 18150386 17715229 161210 46912 17923351 17609597 44531 61099 17715229 17365930 163793 79874 17609597 16900604 297543 167783 17365930 0.95730 0.04270 0 0 489205 489205 56925784 24227514 32698270 8896961 7104951 1792010 10712978 747536 9965442 44944927 RESTRICTED CASH 2319349 C POOLED INVESTMENTS -2298303 C OTHER INVESTMENTS 43816 C BENEFICIAL INTEREST IN PERPETUAL TR 4408497 C 4473359 REFUNDABLE ADVANCES 2226900 2226900 X PART X, LINE 2: ALDERSON BROADDUS UNIVERSITY, INC. IS A PUBLICLY SUPPORTED ORGANIZATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE ENTITY IS REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ENTITY IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSES. ALDERSON BROADDUS UNIVERSITY, INC. FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME. THE ENTITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE ENTITY WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL GENERAL PUBLICITY REGARDING THE COLLEGE INCLUDES A STATEMENT OF OUR RACIALLY NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 ASSISTANCE CONSISTS OF STUDENT FINANCIAL ASSISTANCE. 1 SCHOLARSHIPS 916 13093220 PART I, LINE 2: AWARDS TO STUDENTS ARE MONITORED THROUGH OUR FINANCIAL AID OFFICE. X 0 0 0 0 0 0 0 0 0 0 0 DR ROBERT S BUCKINGHAM DEAN OF OPTOMETRY PROGRAM 176527 0 0 0 0 0 10649 0 3859 0 191035 0 0 0 PART I, LINE 1A ALDERSON BROADDUS UNIVERSITY PROVIDES HOUSING FOR THE LEASED EMPLOYEES FROM THE REGISTRY. THESE EMPLOYEES ARE INTERIM PRESIDENT J. TIM BARRY AND CFO DENNIS E. STARK. PART I, LINE 1B THIS WAS APPROVED BY THE BOARD OF TRUSTEES. PART I, LINE 3 ABU HAS A MANAGEMENT AGREEMENT WITH THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS FOR THE SERVICES OF DR. JAMES TIM BARRY, INTERIM PRESIDENT AND MR. DENNIS STARK, INTERIM CFO. ORIGINALLY THIS PERIOD OF TIME WAS UNTIL 6/30/20 FOR THE PRESIDENT AND 6/3019 FOR THE FOR THE CHIEF FINANCIAL OFFICER. THIS TIME PERIOD WAS CHANGED AS ON OCTOBER 30, 2018 DR. JAMES TIM BARRY WAS NAMED AS THE 10TH PERMANANT PRESIDENT OF ALDERSON BROADDUS UNIVERSITY AND INTERIM CFO DENNIS STARK'S PLACEMENT ENDED AS OF 11/30/2019. SALARY IS DETERMINED UTILIZING COMPARABILITY DATA AND INDEPENDENT COMPENSATION CONSULTANTS, AND IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF ABU. A THE PHILIPPI MUNICIPAL BUILDING COM 556000232 718211AA3 2012-11-30 36785000 CAMPUS CONSTRUCTION PROJECTS AND REFUNDING OF BONDS ISSUED 6/30/2010 0 0 0 A 1145000 36785000 2947281 3537182 735700 24489212 5075625 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 A 1 SCHEDULE K, PART I, COLUMN C THE BOND HAS 2 CUSIP NUMBERS: 2012 SERIES A BOND 718211AA3 2012 SERIES B BOND 718211AB1 SCHEDULE K, PART IV: THE ARBITRAGE CALCULATION DUE FOR THE FIVE-YEAR ANNIVERSARY IN NOVEMBER 2017 WAS NOT PERFORMED HOWEVER THE BONDS WERE RETIRED ON DECEMBER 31, 2018. THE BONDS WERE EVALUATED FOR ARBITRAGE AT THAT TIME AND NO REBATE WAS REQUIRED. ARNOLD SCOTT BOARD MEMBER SHORT TERM OPERATION LOAN X 980000 980000 0 1 1 DR RONALD L BURBICK BOARD MEMBER SHORT TERM OPERATION LOAN X 300000 500000 0 1 1 ROBERT OSBORNE BOARD MEMBER SHORT TERM OPERATION LOAN X 200000 100000 0 1 1 1580000 X FOOD SERVICE CHARGE 1 30000 FAIR MARKET VALUE X BOND FORFEITURE 1 15000 NET ASSET VALUE X SUPPLIES 36 6710 FAIR MARKET VALUE 0 0 0 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1 ALDERSON BROADDUS UNIVERSITY, INC. (ABU) HAS A BOARD OF TRUSTEES AND GOVERNORS. THE GOVERNORS DO NOT HAVE VOTING RIGHTS. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE BOARD. THE MEMBERS OF THE COMMITTEE ARE THE OFFICERS. THE EXECUTIVE COMMITTEE ACTS WHEN THE BOARD IS NOT IN SESSION. FORM 990, PART VI, SECTION A, LINE 3 THE BOARD SIGNED A CONTRACT IN DECEMBER OF 2015 FOR THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS, 3 CENTENNIAL DR., PEABODY, MA 01960, A PLACEMENT FIRM FOR INTERIM EXECUTIVES, TO PROVIDE A PRESIDENT AND CHIEF FINANCIAL OFFICER FOR A DEFINED PERIOD OF TIME. ORIGINALLY THIS PERIOD OF TIME WAS UNTIL 6/30/20 FOR THE PRESIDENT AND 6/30/2019 FOR THE CHIEF FINANCIAL OFFICER. THIS TIME PERIOD WAS CHANGED AS ON OCTOBER 30, 2018, DR. JAMES TIM BARRY WAS NAMED AS THE 10TH PERMANANT PRESIDENT OF ALDERSON BROADDUS UNIVERSITY AND INTERIM CFO DENNIS STARK'S PLACEMENT ENDED AS OF 11/30/2019. ANNUAL COMPENSATION FROM THE REGISTRY FOR PRESIDENT J. T. BARRY IS $170,000 AND FOR CFO DENNIS STARK IS $100,000. DUE TO THE CONTRACT DR. BARRY AND THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS WERE APART OF, THE UNIVERSITY WAS UNABLE TO HIRE DR. BARRY AWAY FROM THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS, THUS DR. BARRY REMAINS A LEASED EMPLOYEE. FORM 990, PART VI, SECTION A, LINE 8B OFFICIAL MINUTES OF COMMITTEE MEETINGS ARE NOT DOCUMENTED. HOWEVER, ACTIVITY FROM THE COMMITTEE MEETINGS IS REPORTED AND DOCUMENTED AS PART OF THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC VERSION OF THE FORM 990 WILL BE PROVIDED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND ALSO TO MEMBERS OF THE BUSINESS AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO IT BEING FILED. THE FULL BOARD OF TRUSTEES WILL RECEIVES A COPY FOR THEIR REVIEW PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY THAT COVERS THE BOARD OF TRUSTEES, OFFICERS, AND OTHER KEY EMPLOYEES. THE BOARD CHAIR REVIEWS POTENTIAL CONFLICTS, AND THE FULL BOARD DETERMINES WHETHER AN ACTUAL CONFLICT OF INTEREST EXISTS. IF A CONFLICT IS DEEMED TO EXIST, THE PERSON WITH THE CONFLICT IS RECUSED FROM VOTING AND DISCUSSION ON THE MATTER, AND MAY BE ASKED TO EXCUSE HIM/HERSELF FROM THE BOARD IF THE CONFLICT IS SIGNIFICANT. BOARD MEMBERS ARE REQUIRED TO COMPLETE A WRITTEN CONFLICT OF INTEREST DISCLOSURE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND CFO IS PROVIDED THROUGH A MANAGEMENT AGREEMENT WITH THE REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS. COMPARABILITY DATA AND INDEPENDENT COMPENSATION CONSULTANTS ARE USED TO DETERMINE A FAIR SALARY FOR THESE POSITIONS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DETERMINING THE APPROPRIATE COMPENSATION LEVEL FOR THESE POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST FROM MEMBERS OF THE PUBLIC. FORM 990, PART XI, LINE 9: NET ASSET RELEASED TO RELATED PARTY -1,366. ALDERSON-BROADDUS ENDOWMENT CORP 101 COLLEGE HILL DRIVE PHILIPPI WV 26416 550652324 SUPPORT ALDERSON-BROADDUS UNIVERSITY WV 510(C)(3) LINE 12A, I ALDERSON BROADDUS UNIVERSITY INC 1 CHARITABLE TRUSTS (3) WV N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 LATE FILED RETURN DUE TO CCH SOFTWARE OUTAGE