2019-04-12T17:17:37-07:00 2018-05-31 990 2017-06-01 620518288 FREED-HARDEMAN UNIVERSITY FREE 7319896000 158 E Main St Henderson TN 383402398 Richard Taylor Jr Financial Analyst 7319896006 2019-04-12 52.70.223.193 2017 2019-02-21 02:37:17Z Freed-Hardeman University 158 E Main St Henderson TN 383402398 66075636 0 X www.fhu.edu X 1869 TN Freed-Hardeman University is a private school associated with churches of Christ which emphasizes physical and spiritual development of its students to prepare them for lives of service to their communities. 32 32 1067 0 140297 -33001 7921233 12566511 41731704 43052358 2214742 2536139 161147 140297 52028826 58295305 14900679 16126625 0 0 19467407 19584072 66000 66000 1825311 14957962 15795793 49392048 51572490 2636778 6722815 136988857 143676055 36078248 34644921 100910609 109031134 Freed-Hardeman University is a private school associated with churches of Christ which emphasizes the physical and spiritual development of its students so they can better serve their communities. 0 0 43985211 16126625 58295305 The university conducted classes for approximately 2,000 students and graduated approximately 399 during the fiscal year. The expenses included faculty salaries and benefits and auxiliary enterprises and the staff and the operations and maintenance to support them. 0 0 0 43985211 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 105 0 1 1067 1 1 1 1 BE 0 0 0 1 1 0 0 0 0 0 X 32 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X X Richard Taylor Jr 7319896006 158 E Main St Henderson TN 383402398 Joe Wiley President 40 0 X 205878 0 18554 David Shannon President 40 0 X 97360 0 22220 David Clouse Vice-President 40 0 X 125792 0 17966 Wayne Scott Vice-President 40 0 X 110230 0 9087 Charles Vires Vice-President and Provost 40 0 X 147702 0 19447 Dwayne Wilson Exec Vice-President & CFO 40 0 X 155242 0 16232 Matthew Vega Faculty 40 0 X 109896 0 17205 Richard McCaskill Executive Director, FHU Dickson 40 0 X 101291 0 13019 Sharen Cypress Faculty 40 0 X 99788 0 10501 Stephen Marvin Faculty 40 0 X 109010 0 17112 Leann Self-Davis Faculty 40 0 X 104963 0 10549 1367152 0 171892 12 0 1 0 TN Industrial Printers 51 Miller Drive Jackson TN 38305 Printing of brochures 152733 Rush and Son Construction 1000 Guy McAdams Rd Henderson TN 38340 Construction contractor 124967 Bramblett Group 117 W Main Street Henderson TN 38340 Public relations consulting 340863 Alliance Corp P O Box 1480 Glasgow KY 42142 Construction contractor 311705 Keppler Speakers 3030 Clarendon Blvd 7th Floor Arlington VA 22201 Agency for Speakers 125000 7 0 0 1083708 0 409419 11073384 1003834 12566511 Operating Revenue 611310 34088665 34088665 0 0 Auxiliary Enterprises 611310 8963693 8963693 0 0 0 43052358 491809 491809 198977 161755 37222 0 37222 37222 9453184 7408854 2044330 0 2044330 2044330 1083708 312797 209722 103075 103075 0 58295305 45588497 140297 0 0 0 16126625 16126625 0 0 0 0 1712531 904190 649894 158447 0 0 0 0 13735757 10762446 2270313 702998 587378 453190 100811 33377 2533388 1530737 819684 182967 1015018 817003 139872 58143 0 0 0 0 441 0 441 0 71140 0 71140 0 0 0 0 0 66000 66000 371936 0 371936 0 729392 0 183556 545836 176806 0 22694 154112 1513657 920493 566569 26595 736223 699387 36836 0 0 0 0 0 68606 60770 7836 0 1438519 1287760 82475 68284 0 0 0 0 93402 93402 0 0 677277 677277 0 0 0 0 0 0 2212546 2174933 12111 25502 298708 281625 17083 0 Utilities 2296475 2025552 270923 0 Student meals 2345739 2334728 11011 0 Operations and maintenance general 356388 31426 324962 0 Unrelated business expenses 173298 0 173298 0 2235240 2803667 -371477 -196950 51572490 43985211 5761968 1825311 1614731 5178743 0 0 1600000 0 827304 558313 0 0 0 0 893719 769134 197609 183126 467628 573977 107481053 32900790 76042286 74580263 40761858 47250978 14583722 14581521 0 0 0 0 0 0 136988857 143676055 2091303 3568633 601779 438783 585445 660597 16537450 15879799 0 0 3417580 2286330 0 0 11809591 10851183 1035100 959596 36078248 34644921 X 44985026 46402106 35145326 39054818 20780257 23574210 100910609 109031134 136988857 143676055 6722815 1397710 0 0 0 0 X 0 1 X 1 1 1 X 51947466 5055336 3769868 1991312 327500 594333 57859525 46962098 3530832 4270512 1876795 400000 539181 51947466 50907826 2942107 -1160249 1844824 3199985 682777 46962098 43590195 4675979 3957839 1636547 -880447 560087 50907826 43634383 3223793 4102378 1405991 5318528 645840 43590195 0.076 0.389 0.535 0 0 0 3012601 3012601 0 90543157 24699171 65843986 0 4846340 2185356 2660984 0 6928060 5005024 1923036 0 2150895 1011239 1139656 74580263 Alternative investments - Level 1 1452263 F Alternative investments - Level 2 6014837 F Alternative investments - Level 3 1500000 F Private equity funds - Level 3 3417086 F Land and other investments 2197335 F 14581521 0 Liabiliity under unitrust agreements 339991 Annuities payable 619605 959596 60261442 1397710 0 0 0 1397710 58863732 0 -568427 -568427 58295305 52140917 0 0 0 568427 568427 51572490 0 0 0 51572490 Schedule D, Part V, Line 4 Support of student scholarships and operating budget are the intended use of the endowment funds. Schedule D, Part XI, Line 4b Rental expenses against gross rents in 990-Part VIII, line 6 b of $161,755 plus Cost of Goods sold against Gross Sales in 990-Part VIII, line 10 b of $209,722 plus Direct Fundraising Expenses against Gross Gifts in 990-Sch G, Part II, line 9 of $196,950 equals $568,427. Schedule D, Part XII, Line 2d Rental expenses against gross rents in 990-Part VIII, line 6 b of $161,755 plus Cost of Goods sold against Gross Sales in 990-Part VIII, line 10 b of $209,722 plus Direct Fundraising Expenses against Gross Gifts in 990-Sch G, Part II, line 9 of $196,950 equals $568,427. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The university policy is noted in the school's catalog, on the school's website, and in printed brochures. Schedule E, Part I, Line 6 Through the student financial aid system, the school receives money to disburse to students under the Federal Work Study Program. It was $409,419 in this fiscal year and it is listed on the 990, Part VIII, line 1e. 1 Europe (including Iceland and Greenland) 1 7 Program Services Classes taught to students 349552 Middle East and North Africa 0 4 Program Services Classes taught students 113011 Europe (including Iceland and Greenland) 0 2 Program Services Classes taught students 60389 Europe (including Iceland and Greenland) 0 1 Program Services Classes taught students 74439 Europe (including Iceland and Greenland) 0 2 Program Services Classes taught students 56301 1 16 653692 Consultant for European program Europe (including Iceland and Greenland) 1 12000 By USA check 0 Book 0 0 0 0 0 0 Schedule F, Part I, Line 2 Faculty members monitor the consultants activities while interacting with him. Also the International Studies Office personnel monitor the financial portion through normal accounting procedures of the university. X X X X X X X 1 Thompson and Associates 112 Westwood Place Suite 250 Brentwood TN 370275327 Estate planning consulting 0 0 66000 -66000 0 66000 -66000 All States Benefit Dinner 1280658 0 1280658 0 0 0 0 0 196950 0 0 1280658 0 1280658 0 0 0 0 0 196950 196950 1083708 1 Student scholarships 1384 16126625 0 Book Schedule I, Part I, Line 2 The school's Financial Aid Office plus the Financial Services Office follow detailed procedures which insure the federal grant regulations are followed. These offices are audited each year by an independent external CPA firm and reported thereon to the federal government. There were "no findings" on the financial aid portion of this audit for this fiscal year being reported on. X X X X 0 0 0 0 0 0 0 0 0 Joe Wiley President 205878 0 0 0 0 0 10550 0 8004 0 224432 0 0 0 Dwayne Wilson Exec Vice-President & CFO 155242 0 0 0 0 0 8250 0 7982 0 171474 0 0 0 Charles Vires Vice-President and Provost 147702 0 0 0 0 0 8000 0 11447 0 167149 0 0 0 A Industrial Development Board 626000307 2016-03-17 7500000 Payoff 2005 Bond plus new capital expenditures 0 0 0 B Health and Educ Fac Board 521339251 2015-12-11 9850000 Payoff 2013 Bond 0 0 0 A 5304420 0 7500000 0 0 0 35384 0 0 2160196 0 0 2016 1 0 1 1 B 9821285 0 9850000 0 0 0 28715 0 0 0 0 0 2015 1 0 1 1 A 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 A 0 B 0 Rosemary and John Brown Past Board Member Payoff tax-exempt bonds X 6700000 1675000 0 1 1 James Edmonds Board member Payoff tax exempt bonds X 100000 25000 0 1 1 Larry Bloomingburg Board member Payoff tax exempt bonds X 100000 25000 0 1 1 John and Marilyn Dodd Board member Payoff tax exempt bonds X 100000 25000 0 1 1 Dale and Tippi Jones Board member Payoff tax exempt bonds X 50000 12500 0 1 1 Bill Morgan Board member Payoff tax exempt bonds X 100000 25000 0 1 1 Lynn and Ramona Patterson Board member Payoff tax exempt bonds X 100000 25000 0 1 1 Milton and Laurel Sewell Chancellor Payoff tax exempt bonds X 100000 25000 0 1 1 Robert Shackelford Board member Payoff tax exempt bonds X 100000 25000 0 1 1 Tommy Townsend Board member Payoff tax exempt bonds X 150000 23830 0 1 1 Friends of FHU LLC Board members and employees Payoff tax exempt bonds X 1700000 400000 0 1 1 2286330 X 170330 Appraisals X 8700 FMV by donor X 1 9935 FMV by donor X 8 377819 Stock exchange X Advertising space 13 393750 FMV by donor X Technical equipment 1 18300 FMV by donor X Airplance usage 1 25000 FMV by donor 1 0 1 0 Form 990, Part VI, Section B, Line 11b A copy of the 990 is sent to all members of the Audit Committee which is a subcommittee of the Board Fiscal Operations Committee of the Board of Trustees and made available to all members of the Board of Trustees upon request. Form 990, Part VI, Section B, Line 12c An electronic version of the conflict of interest policy is made available to all Board of Trustees members. All members sign a statement acknowledging the poliicy. Form 990, Part VI, Section B, Line 15 The president's salary is reviewed annually by the Compensation committee, a subcommittee of the Board Executive committee of the Board of Trustees. Each year the committee reviews available salary surveys, for example the survey compiled by the Chronicle of Higher Education. The committee also considers the President's performance, especially in regard to metrics on the Institution's Strategic Plan. A proposed change in his compensation is recommended by the committee for approval by the full Board of Trustees. The compensation for the other officers and key employees are set by the President with approval by the Board of Trustees. Form 990, Part VI, Section C, Line 19 The institution's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Certain items are available on the institution's website. An extension of time to file was requested on a timely basis on Form 8453-EO and time was extended and granted until 4-15-19.