2018-05-15T15:54:56-05:00 2017-06-30 221478099 COHNREZNICK LLP 400 CAPITOL MALL SUITE 1200 SACRAMENTO CA 95814 990 2016-07-01 200909475 Olivet University OLIV 9517630500 36401 TRIPP FLATS ROAD ANZA CA 92539 Tony Lin CHAIRMAN 9517630500 2018-05-15 1 LISA M CUMMINGS CPA P00043433 9164429100 2018-05-13 2016 2022-09-23 18:48:47Z TRACY DAVIS 36401 TRIPP FLATS ROAD ANZA CA 92539 44163900 0 X OLIVETUNIVERSITY.EDU X 2004 CA PROVIDING QUALITY CHRISTIAN EDUCATION TO THE NETWORK GENERATION. 6 4 97 61 0 0 6276056 6154610 22280889 37870461 674 149 -370112 138680 28187507 44163900 5064840 6460874 0 0 2210707 2525939 0 0 18327 12392454 22910263 19668001 31897076 8519506 12266824 44745607 88833254 12777765 44598588 31967842 44234666 PROVIDING QUALITY CHRISTIAN EDUCATION TO THE NETWORK GENERATION. 0 0 22559477 6460874 38009141 PROVIDED EDUCATION ON VARIOUS CHRISTIAN SUBJECTS TO STUDENTS.IN THE 2016-2017 FINANCIAL YEAR, OLIVET UNIVERSITY CONTINUED TO EDUCATE STUDENTS, STRENGTHEN ITS MINISTRY PRACTICE PROGRAM, IMPROVE ITS RESEARCH AND DEVELOPMENT, DEVELOP ITS ELECTRONIC RESOURCES HOLDINGS, INCREASE ENROLLMENT, AND EXPAND ITS COURSE OFFERINGS. 1451873 PROVIDED STUDENT SERVICES INCLUDING ADMISSIONS, SOCIAL AND CULTURE DEVELOPMENT, COUNSELING AND CAREER GUIDANCE, AND FINANCIAL AID ASSISTANCE. 1776804 PROVIDED ACADEMIC SUPPORT SERVICES INCLUDING LIBRARY DEVELOPMENT, PROFESSIONAL ACADEMIC DEVELOPMENT, AND ACADEMIC COMPUTING SUPPORT. 25788154 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 1 23 0 1 97 1 0 0 0 0 0 0 0 0 0 0 X 6 4 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X BARNABAS JUNG 9517630500 36401 TRIPP FLATS ROAD ANZA CA 92539 BRIAN KIM TREASURER 1.00 X X 0 0 0 CHRISTOPHER CHOU TRUSTEE 1.00 X 0 0 0 JUAN WE CHIU TRUSTEE 1.00 X 0 0 0 SIMON KIM TRUSTEE (Outgoing) 1.00 X 0 0 0 TONY LIN CHAIRMAN 2.00 X X 0 0 0 TRACY DAVIS PRESIDENT 40.00 X X 100800 0 0 WILLIAM ANDERSON TREASURER (outgoing) 1.00 X X 0 0 0 WINNIE WONG SECRETARY 1.00 X X 0 0 0 GINTURN TRAN VICE PRESIDENT 40.00 X 44400 0 0 145200 0 0 1 0 0 0 0 6154610 6154610 RESEARCH INCOME 900099 33031527 33031527 TUITION AND FEES 611310 4838934 4838934 37870461 149 149 MISCELLANEOUS INCOME 900099 104335 104335 DISCOUNT ON PLEDGES 900099 34345 34345 138680 44163900 38009141 0 149 6460874 6460874 145200 145200 2192224 1883852 308372 188515 149812 38703 176545 176545 63770 63770 842880 842880 23624 23624 58536 43902 14634 58130 43597 14533 1558264 1168698 389566 108269 63847 27067 17355 4770 2605 1193 972 3619057 2982103 636954 4775767 3581815 1193952 373140 373140 Equipment Rental/Maint. 8781682 7586262 1195420 Bad Debt Expense 605973 605973 Service Fees 554220 415665 138555 Repairs and Maintenance 535791 133948 401843 769845 404670 365175 31897076 25788154 6090595 18327 319106 570094 1168 1181 4635478 6424713 1522411 4942872 2787223 5741016 7488 80652 79634930 9462110 35092232 70172820 47060 349111 333441 550795 44745607 88833254 1811295 3070052 345198 337525 6989295 22212108 3631977 18978903 12777765 44598588 X 27332364 37809953 4635478 6424713 31967842 44234666 44745607 88833254 12266824 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23708681 23708681 23556031 954769 22601262 29231004 7747610 21483394 3139214 759731 2379483 70172820 CAPITAL LEASES 17640805 RESEARCH REVENUE OVERPAYMENTS 1338098 18978903 X Part X, Line 2: The principal activities of the University are exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the Revenue and Taxation Code of California. Accordingly, no provision for income taxes is included in the accompanying consolidated financial statements. The University has certain subsidiaries that are taxed as C corporations. For these subsidiaries, income taxes are recognized for the amount of taxes payable or refundable for the current year, and deferred tax liabilities and assets are recognized for the future tax consequences of transactions that have been recognized in the University's consolidated financial statements or tax returns. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax asset will not be realized. At June 30, 2017 and for the year then ended, current and deferred taxes are not material to the University's consolidated financial statements. The University has no unrecognized tax benefits at June 30, 2017. The University's federal and state income tax returns prior to fiscal years 2014 and 2013, respectively, are closed. Management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. If applicable, the University recognizes interest and penalties associated with tax matters as part of income tax expense and includes accrued interest and penalties with the related tax liability in the consolidated statement of financial position. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 The nondiscriminatory policy is found in all handbooks, which are published on the website and accessible to all potential applicants. 1 WORLD OLIVET ASSEMBLY 115 DOVER FURNACE RD DOVER PLAINS NY 12522 461616553 501(C)(3) 5669846 CHURCH MISSIONS OLIVET ACADEMY 6 BARCLAY ST FL 5 NEW YORK NY 10007 810683419 501(C)(3) 18150 CHRISTIAN CHILDREN EDUCATION ASSOCIATION FOR BIBLICAL HIGHER EDUCATION 5850 TG LEE BLVD STE 130 ORLANDO FL 32822 351055662 501(C)(3) 19000 RISING TIDE CAMPAIGN/EDUCATION JUBILEE WORLD 5341 EMERSON AVE ST LOUIS MO 63120 510474217 501(C)(3) 738000 DEVELOP EDUCATIONAL AND TRAINING SPACE FOR CHRISTIAN MUSICIANS AND STUDENTS 4 Part I, Line 2: ORGANIZATIONS THAT RECEIVE GRANTS PROVIDE REPORTS INDICATING THAT THE FUNDS WERE USED EXCLUSIVELY FOR EXEMPT ACTIVITIES. ADDITIONALLY, FUNDS ARE ONLY GRANTED TO ORGANIZATIONS WHOSE STATED MISSION IS LIMITED TO EXEMPT ACTIVITIES COMPATIBLE WITH OLIVET UNIVERSITY'S MISSION. YIBADA INC Board Secretary 132050 Winnie Wong, Board Secretary of Olivet University, is a shareholder of Yibada Inc. During the current fiscal year, Olivet University entered into a Research & Development agreement with Yibada Inc. All terms were negotiated at arms-length. 0 FORM 990, PART IV, LINE 33, OWNERSHIP OF DISREGARDED ENTITY: DOVER GREENS, LLC IS A SINGLE-MEMBER LLC WITH OLIVET UNIVERSITY AS ITS SOLE MEMBER. THE LLC'S ACTVITY IS REFLECTED IN THE UNIVERSITY'S FORM 990. Form 990, Part VI, Section B, line 11b THE BOARD AND KEY OFFICERS REVIEW THE FORM 990 AND PROVIDE SUGGESTIONS ON ACCURACY AND CHANGES. A FINAL COPY IS DISTRIBUTED BEFORE SUBMISSION. Form 990, Part VI, Section B, line 12c THE CHAIRMAN AND CFO REVIEW ALL TRANSACTIONS QUARTERLY AND ANNUALLY TO ENSURE CONFLICTS OF INTEREST DO NOT EXIST. THE CHAIRMAN ACTS AS THE FINAL REVIEWER. COMPENSATION IS CHECKED AGAINST COUNCIL FOR CHRISTIAN COLLEGES & UNIVERSITIES' BENCHMARKS TO ENSURE FAIRNESS ANNUALLY. BOARD DECISIONS ARE DOCUMENTED IN THE MINUTES KEPT BY THE SECRETARY. Form 990, Part VI, Section B, line 15 A COMPENSATION STUDY OF THE ASSOCIATION FOR BIBLICAL HIGHER EDUCATION AND COUNCIL FOR CHRISTIAN COLLEGES AND UNIVERSITIES' SALARY DATA WAS COMPLETED, AND SALARY RECOMMENDATIONS WERE REVIEWED BY THE BOARD. Form 990, Part VI, Section C, line 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part XII, Line 2c: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. DOVER GREENS LLC 73 WHEELER ROAD WINGDALE NY 12594 463068978 MANAGING CAMPUS PROPERTY DE -4328969 30875409 OLIVET UNIVERSITY DOVER WINGDALE PROPERTIES LLC 73 WHEELER ROAD winGDALE NY 12594 475159062 NOT YET DETERMINED DE OLIVET UNIVERSITY OLIVET ACADEMY 6 BARCLAY ST 5TH FLOOR NEW YORK NY 10007 810683419 CHRISTIAN CHILDREN EDUCATION NY 501(c)(3) Line 2 N/A 0 PLEROS INC 1025 HOWARD STREET SAN FRANCISCO CA 94103 473268788 CAMPUS BOOKSTORE CA OLIVET UNIVERSITY C -478350 -734362 1.00000 1 STEVENS BOOKS GROUP INC 6700 OLD WAKE FOREST ROAD RALEIGH NC 27616 261906875 ONLINE BOOKSTORE CA OLIVET UNIVERSITY C -38660 123027 1.00000 1 BAM RESOURCE TRAINING INC 777 E Tahquitz Canyon Way Suite 200 Palm Springs CA 92262 810831490 ONLINE MEDIA AND RETAIL CA OLIVET UNIVERSITY C -24453 21212 1.00000 1 OU TECH INCUBATOR INC 6 BARCLAY ST 3RD FLOOR 301 NEW YORK NY 10007 352573865 Retail and tech related business NY oliVET UNIVERSITY C -19666 -31 1.00000 1 PLEROS LLC FKA COOL FRIENDLY LLC 919 NORTH MARKET STREET STE 425 WILMINGTON DE 19801 320498998 Retail Business DE olIVET UNIVERSITY C -155 418089 1.00000 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PLEROS INC B 293095 CASH BAM RESOURCE TRAINING INC B 44000 CASH STEVENS BOOKS GROUP INC B 56348 CASH STEVENS BOOKS GROUP INC C 14100 CASH PLEROS LLC FKA COOL FRIENDLY LLC B 51766 CASH OU TECH INCUBATOR GROUP INC B 13100 CASH