2018-11-15T12:32:14-06:00 2018-06-30 560574444 CHERRY BEKAERT LLP 1075 PEACHTREE STREET NE SUITE 2200 ATLANTA GA 30309 990 2017-07-01 560529972 GARDNER-WEBB UNIVERSITY GARD 7044064282 POST OFFICE BOX 997 BOILING SPRINGS NC 28017 MIKE W HARDIN VP ADMINISTRATION/FINANCE 7044064282 2018-11-08 1 AMANDA ADAMS P00748038 4042090954 68.142.180.174 2018-11-08 20:50:50 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0B670C8C210F0245D71F1F8B052AA4E3CE9649D0 2017 2019-02-21 02:37:17Z A FRANK BONNER POST OFFICE BOX 997 BOILING SPRINGS NC 28017 94031887 0 X WWW.GARDNER-WEBB.EDU X 1905 NC GARDNER-WEBB UNIVERSITY, A PRIVATE, CHRISTIAN, BAPTIST-RELATED UNIVERSITY, PROVIDES OUTSTANDING UNDERGRADUATE AND GRADUATE EDUCATION THAT IS STRONGLY GROUNDED IN THE LIBERAL ARTS WHILE OFFERING OPPORTUNITIES TO PREPARE FOR VARIOUS PROFESSIONS. FOSTERING MEANINGFUL INTELLECTUAL THOUGHT, CRITICAL ANALYSIS, AND SPIRITUAL CHALLENGE WITHIN A DIVERSE COMMUNITY OF LEARNING, GARDNER-WEBB IS DEDICATED TO HIGHER EDUCATION THAT INTEGRATES SCHOLARSHIP WITH CHRISTIAN LIFE. BY EMBRACING FAITH AND INTELLECTUAL FREEDOM, BALANCING CONVICTION WITH COMPASSION, AND INSPIRING A LOVE OF LEARNING, SERVICE, AND LEADERSHIP, GARDNER-WEBB PREPARES ITS GRADUATES TO MAKE SIGNIFICANT CONTRIBUTIONS FOR GOD AND HUMANITY IN AN EVER-CHANGING GLOBAL COMMUNITY. 38 38 1703 0 31508 -14972 4635354 4524521 84041351 82117572 4351285 2085327 755253 743373 93783243 89470793 28553892 28552607 0 0 40103282 36579230 0 0 980443 25634590 25185393 94291764 90317230 -508521 -846437 156510328 153722632 38711150 34920409 117799178 118802223 THE UNIVERSITY STATEMENT OF VALUES CONSIST OF CHRISTIAN HERITAGE, BAPTIST HERITAGE, ACADEMIC EXCELLENCE, LIBERAL ARTS, TEAMWORK, A STUDENT CENTERED FOCUS, COMMUNITY ENGAGEMENT AND DIVERSITY. 0 0 50833736 82378122 INSTRUCTIONAL COSTS: THE PRIMARY GOAL OF GWU IS TO PROVIDE EDUCATION TO STUDENTS. THE UNIVERSITY OFFERS UNDERGRADUATE, GRADUATE AND DOCTORAL DEGREES. THE UNIVERSITY ENROLLED APPROXIMATELY 4,350 STUDENTS DURING 2017-2018. TUITION AND FEE REVENUE IS USED TO PROVIDE SALARIES FOR FACULTY AND STAFF TO PROVIDE TEACHING AND SUPPORT SERVICES TO STUDENTS. 28552607 28552607 THE UNIVERSITY AWARDED APPROXIMATELY $28.5M IN UNIVERSITY GRANTS DURING THE '17-18 YEAR. 79386343 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 205 0 1 1703 1 1 1 0 0 0 0 1 1 0 0 0 0 X 38 38 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X MIKE W HARDIN 7044064282 100 S MAIN STREET/WEBB HALL BOILING SPRINGS NC 28017 MR FRANK A STEWART CHAIR (2017) & (2018) 1.00 X X 0 0 0 DR C LORANCE HENDERSON IMMEDIATE PAST CHAIR (2017 & 2018) 1.00 X X 0 0 0 MR RONALD R BEANE VICE CHAIR (2017 & 2018) 1.00 X X 0 0 0 MRS CANDACE J AREY SECRETARY (2017) 1.00 X X 0 0 0 MR MAX J HAMRICK TREASURER (2017 & 2018) 1.00 X X 0 0 0 MR FRANKLIN V BEAM CHAIR, AUDIT & COMPLIANCE (2018) 1.00 X 0 0 0 MS SUSAN B BRIGGS CHAIR, FINANCIAL AFFAIRS (2017) 1.00 X 0 0 0 DR WILLIAM W LEATHERS III CHAIR, STUDENT DEVELOPMENT (2017) 1.00 X 0 0 0 MR RANDALL MARION CHAIR, DEVELOPMENT (2017) 1.00 X 0 0 0 MR DAVID W ROYSTER III CHAIR, INTERCOLLEGIATE ATHLETICS (2017) 1.00 X 0 0 0 MR THOMAS H WATSON JR CHAIR, ENROLLMENT MANAGEMENT (2017) 1.00 X 0 0 0 MR RODNEY B ALLISON TRUSTEE 1.00 X 0 0 0 MR JOHN W BELL JR TRUSTEE 1.00 X 0 0 0 MR W THOMAS BELL TRUSTEE 1.00 X 0 0 0 MR RALPH BENTLEY TRUSTEE 1.00 X 0 0 0 MR MARK COLLINS TRUSTEE 1.00 X 0 0 0 MR WILLIAM K GARY TRUSTEE 1.00 X 0 0 0 MR GEORGE R GILLIAM TRUSTEE 1.00 X 0 0 0 MR RONALD W HAWKINS TRUSTEE 1.00 X 0 0 0 MR RYAN D HENDLEY TRUSTEE 1.00 X 0 0 0 MRS TERESA H HUGGINS TRUSTEE 1.00 X 0 0 0 MR J JACKSON HUNT TRUSTEE 1.00 X 0 0 0 MS JENNIFER MARION MILLS TRUSTEE 1.00 X 0 0 0 MR SAM H MCMAHON JR TRUSTEE 1.00 X 0 0 0 MR MAURICE B MORROW III TRUSTEE 1.00 X 0 0 0 MR THOMAS E PHILSON TRUSTEE 1.00 X 0 0 0 MR JAMES E ROBBINS TRUSTEE 1.00 X 0 0 0 MR TONY ROBBINS TRUSTEE 1.00 X 0 0 0 MR BOB D SHEPHERD TRUSTEE 1.00 X 0 0 0 MS DELAINA A SMITH TRUSTEE 1.00 X 0 0 0 MR GARY H SMITH III TRUSTEE 1.00 X 0 0 0 MR ANTHONY N STRANGE TRUSTEE 1.00 X 0 0 0 MR J LINTON SUTTLE III TRUSTEE 1.00 X 0 0 0 MR JOHN TEETER TRUSTEE 1.00 X 0 0 0 MS LISA C TUCKER TRUSTEE 1.00 X 0 0 0 MR CHRISTOPHER L WELCH TRUSTEE 1.00 X 0 0 0 MR DON L YELTON TRUSTEE 1.00 X 0 0 0 MR ROBERT W YELTON TRUSTEE 1.00 X 0 0 0 ARNOLD FRANK BONNER PRESIDENT 40.00 X 357615 0 35459 MIKE W HARDIN VP FOR ADMINISTRATION AND FINANCE 40.00 X 161403 0 96884 BENJAMIN C LESLIE PROVOST AND SENIOR VICE PRESIDENT 40.00 X 163050 0 29391 NANCY WINKER PROFESSOR AND DIR. OF DIDACTIC EDUC. 40.00 X 154524 0 25471 HARRY FISH JR VP FOR ADVANCEMENT 40.00 X 150884 0 12063 SYDNEY BROWN PROFESSOR OF EDUCATION 40.00 X 143337 0 15721 JENNIFER PUTNAM PROFESSOR OF EDUCATION 40.00 X 140151 0 18713 STEPHEN LAWS PROFESSOR OF EDUCATION 40.00 X 137009 0 4963 1407973 0 238665 34 0 1 0 SODEXO PO BOX 536922 ATLANTA GA 30353 CAFETERIA SERVICES 3721533 K12 TEACHERS ALLIANCE 20624 ABBEY WOODS COURT NORTH FRANKFORT IL 60423 RECRUITING SERVICES 1381758 AGB STRATEGIES 1133 20TH STREET NW SUITE 300 WASHINGTON DC 20036 CONSULTING SERVICES 343462 VISION POINT MARKETING 3210 FAIRHILL DRIVE SUITE 150 RALEIGH NC 27612 MARKETING SERVICES 150841 WNC TRAVEL PO BOX 668 CANDLER NC 28715 CONSTRUCTION SERVICES 135590 7 500141 4024380 299351 4524521 TUITION AND FEES 900099 65804912 65804912 ROOM AND BOARD 900099 12211770 12211770 AUXILIARY SERVICES 900099 3912089 3912089 STUDENT LOAN INTEREST AND FEES 900099 188801 188801 82117572 1186115 1186115 32708 0 32708 32708 1200 31508 3106884 575072 2430632 352112 676252 222960 899212 899212 2037700 1778350 259350 259350 REFUNDS & OTHER INCOME 900099 451315 451315 451315 89470793 82378122 31508 2536642 28552607 28552607 853020 853020 28033951 23900065 3560694 573192 1522043 1312351 178218 31474 4155240 3497936 573414 83890 2014976 1676611 298155 40210 80578 80578 115766 115766 680612 680612 373463 89792 283671 887483 633851 253632 917761 577936 339825 802518 66694 735824 1697480 1638696 43060 15724 2028405 1927480 100925 771977 395134 376843 869993 717283 76469 76241 3235698 3123644 82080 29974 965672 40754 924918 OTHER STUDENT SERVICES 8846175 8323697 392740 129738 FOOD SERVICES 2911812 2911812 90317230 79386343 9950444 980443 21967965 22505844 2174660 2190774 1114005 1421119 863670 703021 722654 681492 134746043 76092170 62405162 58653873 30392222 45105639 32394104 18985538 4125184 3050567 350702 424765 156510328 153722632 4377587 3685992 2355509 1945687 3428941 3499752 21011808 18524702 6763176 6365342 774129 898934 38711150 34920409 X 57133655 56296622 20204786 20892666 40460737 41612935 117799178 118802223 156510328 153722632 -846437 1849482 0 X X 0 1 X 1 1 1 X 29372 X X 0 62668442 879025 2908421 2531172 63924716 59555300 1072317 4556686 2515861 62668442 59894815 2254132 -17314 2576333 59555300 61542216 1023841 -69247 2601995 59894815 54149620 1237570 8697324 2542298 61542216 0.10650 0.61990 0.27360 0 0 1874884 11677488 13552372 93665866 51375719 42290147 27472497 24716451 2756046 55308 55308 58653873 PARTNERSHIPS/HEDGE FUNDS 18985538 F 18985538 ANNUITIES PAYABLE 281385 CONSTRUCTION COSTS PAYABLE 71406 DUE TO AGENCIES 546143 898934 X 64546018 1849482 -28552607 -26703125 91249143 -1778350 -1778350 89470793 63542973 1778350 1778350 61764623 28552607 28552607 90317230 PART III, LINE 4: COLLECTIBLES ARE HELD FOR POSSIBLE FUTURE SALE, OF PART OR ALL OF THE COLLECTION, WITH THE PROCEEDS TO BE USED TO FUND EDUCATIONAL PROGRAMS OF THE UNIVERSITY. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 550 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES AND INCLUDES PERMANENTLY RESTRICTED DONOR GIFTS AS PART OF IRREVOCABLE TRUST AND ANNUITY GIFTS. THE ENDOWMENTS ARE USED TO FUND STUDENT SCHOLARSHIPS, ACADEMIC PROGRAMS, AND ACADEMIC ENHANCEMENT ACTIVITIES SUCH AS TRAVEL. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE UNIVERSITY IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE UNIVERSITY. THE UNIVERSITY ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE UNIVERSITY BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE UNIVERSITY HAS EVALUATED ALL TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN INCOME TAX POSITIONS AS OF JUNE 30, 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION DISCOUNTS REDUCING TUITION INCOME -28,552,607. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -1,778,350. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,778,350. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS REDUCING TUITION INCOME 28,552,607. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RACIALLY NONDISCRIMINATORY POLICY STATEMENT IS INCLUDED IN THE ACADEMIC CATALOG WHICH CAN BE FOUND ON THE GARDNER-WEBB UNIVERSITY WEBSITE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVED STUDENT FINANCIAL AID GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION AND THE NC STATE EDUCATION ASSISTANCE AUTHORITY. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 4182412 0 0 0 0 0 0 4182412 0 4182412 0 0 1 1 0 0 PART I, LINE 3: THE AMOUNT REPORTED IN COLUMN (F) REPRESENTS THE FAIR MARKET VALUE OF THE ORGANIZATION'S FOREIGN INVESTMENTS AS OF THE END OF THE FISCAL YEAR. 1 ACADEMIC SCHOLARSHIPS 1280 14558813 PUBLISHED TUITION AND FEE RATES TUITION DISCOUNTS ATHLETIC SCHOLARSHIPS 428 7998818 PUBLISHED TUITION AND FEE RATES TUITION DISCOUNTS OTHER SCHOLARSHIPS 940 4297517 PUBLISHED TUITION AND FEE RATES TUITION DISCOUNTS FUNDED STUDENT AID 119 1697459 PART I, LINE 2: GARDNER-WEBB UNIVERSITY PRACTICES A YEARLY REVIEW (AT THE END OF THE SPRING SEMESTER) TO MONITOR ALL STUDENTS AWARDED AN INSTITUTIONAL SCHOLARSHIP BASED ON THE FOLLOWING CRITERIA: 1) ENROLLMENT STATUS 2) HOUSING STATUS 3) GPA 4) MAINTAINING SATISFACTORY ACADEMIC PROGRESS IN ACCORDANCE WITH THE UNIVERSITY'S POLICY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 ARNOLD FRANK BONNER PRESIDENT 357615 0 0 0 0 0 28040 0 7419 0 393074 0 0 0 MIKE W HARDIN VP FOR ADMINISTRATION AND FINANCE 161403 0 0 0 0 0 13600 0 83284 0 258287 0 0 0 BENJAMIN C LESLIE PROVOST AND SENIOR VICE PRESIDENT 163050 0 0 0 0 0 13520 0 15871 0 192441 0 0 0 NANCY WINKER PROFESSOR AND DIR. OF DIDACTIC EDUC. 154524 0 0 0 0 0 9600 0 15871 0 179995 0 0 0 HARRY FISH JR VP FOR ADVANCEMENT 150884 0 0 0 0 0 12000 0 63 0 162947 0 0 0 SYDNEY BROWN PROFESSOR OF EDUCATION 143337 0 0 0 0 0 5168 0 10553 0 159058 0 0 0 JENNIFER PUTNAM PROFESSOR OF EDUCATION 140151 0 0 0 0 0 4725 0 13988 0 158864 0 0 0 PART I, LINE 1A TWO EMPLOYEES HAVE A COUNTRY CLUB MEMBERSHIP EXCLUSIVELY FOR BUSINESS PURPOSES, SUCH AS MEETINGS WITH FRIENDS OF THE UNIVERSITY. THEREFORE, THE VALUE OF THE MEMBERSHIP HAS NOT BEEN TREATED AS A TAXABLE BENEFIT. X 1 25638 FMV X 2 198900 FMV X INSURANCE 1 61625 FMV X SOFTWARE 1 13188 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 DON YELTON AND ROBERT YELTON HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B GARDNER-WEBB UNIVERSITY'S BOARD OF TRUSTEES HAS DELEGATED RESPONSIBILITY OVER COMPLIANCE WITH LAWS AND REGULATIONS, INCLUDING FORM 990, TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. A DRAFT OF FORM 990 WILL BE PRESENTED TO AND REVIEWED BY THE AUDIT COMMITTEE. AFTER ACCEPTANCE BY THE AUDIT COMMITTEE, A COPY OF FORM 990 WILL BE DISTRIBUTED TO THE FULL BOARD AND THE AUDIT FIRM WILL BE GIVEN THE AUTHORITY TO COMPLETE THE FILING OF FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF SAID MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OF INTEREST ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTIONS BY MAJORITY VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL AND COMPENSATION COMMITTEE SHALL BE COMPRISED OF THE CHAIRMAN OF THE BOARD, THE VICE CHAIRMAN, THE IMMEDIATE PAST CHAIRMAN, THE CHAIRMAN OF THE FINANCIAL AFFAIRS COMMITTEE, AND ONE TRUSTEE APPOINTED BY THE CHAIRMAN OF THE BOARD. THE COMMITTEE RECOMMENDS TO THE BOARD THE PRESIDENT'S COMPENSATION, ADVISES THE PRESIDENT, APPROVES SENIOR STAFF COMPENSATION, AND SERVES AS A PERSONNEL COMMITTEE FOR THE NEEDS OF THE PRESIDENT. THE COMPENSATION COMMITTEE IS PROVIDED A COPY OF A SALARY COMPARISON BY NCICU SO THEY CAN COMPARE PRESIDENT'S AND KEY EMPLOYEES' SALARIES. ALL DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE COMMITTEE MINUTES. 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 XII, LINE 2C THE AUDIT COMMITTEE SHALL ASSIST THE BOARD OF TRUSTEES IN FULFILLING THE OVERSIGHT RESPONSIBILITIES FOR THE FINANCIAL REPORTING PROCESS, THE SYSTEM OF INTERNAL CONTROL, THE AUDIT PROCESS, AND THE COMPANY'S PROCESS FOR MONITORING COMPLIANCE WITH LAWS AND REGULATIONS. THE AUDIT COMMITTEE ACCEPTS AUDITS ON BEHALF OF THE BOARD OF TRUSTEES AND PRESENTS AUDIT REPORTS TO THE FULL BOARD. CHARITABLE REMAINDER TRUSTS (15) INVESTMENTS NC N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0