2018-04-16T10:47:42-05:00 2017-05-31 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2016-06-01 560554207 MARS HILL UNIVERSITY MARS 8286891111 PO BOX 370 MARS HILL NC 28754 RANDELL N TILLEY VP-FINANCE & FACILITIES 8286891100 2018-04-09 1 Amanda Adams P00748038 7043771678 169.130.39.110 2018-04-09 16:25:31 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2016 2021-01-29 14:40:06Z Dan Lunsford PO BOX 370 MARS HILL NC 28754 56063858 0 X www.mhu.edu X 1892 NC THE ORGANIZATION IS A PRIVATE LIBERAL ARTS COLLEGE OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK AND FINE ARTS. 35 35 1343 35 10121 0 7927899 6014300 43749919 45613179 6909351 320657 2026900 121656 60614069 52069792 20583893 22229934 0 0 16240562 16239437 0 0 1083220 15262522 15720246 52086977 54189617 8527092 -2119825 140446818 146376182 50753168 55124990 89693650 91251192 X Mars Hill University, an academic community rooted in the Christian faith, challenges and equips students to pursue intellectual, spiritual, and personal growth that is: grounded in a rigorous study of the Liberal Arts, connected with the world of work, and committed to character development, to service, and to responsible citizenship in the community, the region, and the world. 0 0 42978684 22229934 34677012 INSTRUCTION - PRIVATE LIBERAL ARTS UNIVERSITY OFFERING PROGRAMS LEADING TO FIVE DEGREES: BACHELOR OF ARTS, SCIENCE, MUSIC, SOCIAL WORK, AND FINE ARTS. APPROXIMATELY 1,360 STUDENTS BENEFITED. 1018411 10094422 ACADEMIC SUPPORT - SERVICES THAT ARE AN INTEGRAL PART OF THE UNIVERSITY'S PRIMARY MISSION OF EDUCATION. 617088 841745 PUBLIC SERVICE - ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES TO GROUPS EXTERNAL TO THE UNIVERSITY. 44614183 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 81 0 1 1343 1 1 1 0 0 0 0 0 0 0 0 0 X 35 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X Randell N Tilley 8286891100 100 ATHLETIC STREET MARS HILL NC 28754 W Wayne Higgins Chair 1.00 X X 0 0 0 Linda Judge-McRae Vice Chair 1.00 X X 0 0 0 Gwen Davis Treasurer 1.00 X X 0 0 0 Carolyn H Ferguson Secretary 1.00 X X 0 0 0 Joe Bingham Trustee 1.00 X 0 0 0 Bruce Boyles Trustee 1.00 X 0 0 0 Ronald O Brown Trustee 1.00 X 0 0 0 Doug Buchanan Trustee 1.00 X 0 0 0 Max Burgin Trustee 1.00 X 0 0 0 Mark Cabaniss Trustee 1.00 X 0 0 0 M Kyle Carver Trustee 1.00 X 0 0 0 David Costner Trustee 1.00 X 0 0 0 Michael Cranford Trustee 1.00 X 0 0 0 Mary Dawson Trustee 1.00 X 0 0 0 Will Davis Trustee 1.00 X 0 0 0 Troy L Day Trustee 1.00 X 0 0 0 Sally P Duyck Trustee 1.00 X 0 0 0 J Dixon Free Trustee 1.00 X 0 0 0 Jean S Freeman Trustee 1.00 X 0 0 0 Eugene Holdway Trustee 1.00 X 0 0 0 AC Honeycutt Jr Trustee 1.00 X 0 0 0 Harold H Bud Hughes Trustee 1.00 X 0 0 0 Mike Kelly Trustee 1.00 X 0 0 0 Carole Martin Trustee 1.00 X 0 0 0 Bill Murdock Trustee 1.00 X 0 0 0 Brenda G Nash Trustee 1.00 X 0 0 0 Ruth Parham Trustee 1.00 X 0 0 0 Jeremy R Pressley Trustee 1.00 X 0 0 0 Magay Shephard Trustee 1.00 X 0 0 0 Karen M Smith Trustee 1.00 X 0 0 0 Mike Stephens Trustee 1.00 X 0 0 0 Brent Townsend Trustee 1.00 X 0 0 0 Charles Trammell Trustee 1.00 X 0 0 0 Jim Wilson Trustee 1.00 X 0 0 0 B Jane Winn Trustee 1.00 X 0 0 0 DAN G LUNSFORD PRESIDENT 60.00 X 177721 0 9231 RANDELL N TILLEY VP-FINANCE & FACILITIES 50.00 X 109315 0 12742 HAROLD G CHRISTMAN VP-INSTITUTIONAL ADVANCEME 40.00 X 111557 0 12572 398593 0 34545 3 0 1 0 CHARTWELLS PO Box 91337 CHICAGO IL 60693 DINING HALL SERVICES 2689237 Brantley Construction 291 Plott Drive Canton NC 28716 Construction Services 293965 Franklin Brothers Construction 189 Lone Pine Rd Alexander NC 28701 Construction/Phone Services 216382 Patla Straus Robinson & Moore 29 N Market St 300 Asheville NC 28801 Legal Services 209295 Legerton Architecture Inc 21 North Liberty St Asheville NC 28801 Architect Services 177043 7 1867971 4146329 20642 6014300 Tuition and Fees 900099 34677012 34677012 Residence Halls 900099 8482012 8482012 Bookstore Sales 900099 906035 906035 Conferences and Other 900099 841745 841745 Cafeteria Income 900099 220680 220680 485695 485695 45613179 378026 10121 367905 121656 0 121656 121656 121656 3936697 3994066 -57369 -57369 -57369 52069792 45613179 10121 432192 22229934 22229934 309009 93476 215533 12213356 7624139 4086654 502563 606498 378604 202937 24957 2167370 1352972 725213 89185 943204 588791 315601 38812 765339 202770 556292 6277 478486 157998 129546 190942 1188388 827005 227930 133453 2993573 2749215 244358 1253953 1065154 136520 52279 879092 879092 2825803 2591261 234542 619580 619580 Cafeteria Expense 2116819 2116819 Bookstore Expense 1050904 1050904 equip rental & maintena 494406 254657 239499 250 BAD DEBT EXPENSE 451433 451433 602470 451392 106576 44502 54189617 44614183 8492214 1083220 8129412 7245335 3277392 2215875 1242428 1215455 1693520 1923398 316676 322469 190505 155676 112533550 39849914 69633520 72683636 3986725 2072572 36872724 44836161 15103916 13705605 140446818 146376182 4763831 2938581 406335 356496 41977697 48689757 3605305 3140156 50753168 55124990 X 16603096 17010081 22389812 21596364 50700742 52644747 89693650 91251192 140446818 146376182 X -2119825 4838041 -1160674 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 41508613 1976943 6603864 2987642 47101787 46146662 2057333 -2828513 1466869 2400000 41508613 43722136 1026612 2786886 1388972 46146662 40310301 3362624 1552528 1503317 43722136 36766823 701986 4326281 1484789 40310301 0.90330 0.09670 0 0 974028 1599148 2573176 89030369 24878880 64151489 11748841 10322161 1426680 9181164 4648873 4532291 72683636 REAL ESTATE INVESTMENT TRUSTS 973655 F ALTERNATIVE INVESTMENTS 43862506 F 44836161 OTHER ASSETS 79269 Beneficial Interests in Trusts 12379539 Assets Held in Charitable Remainder Trusts 1246797 13705605 ANNUITIES PAYABLE 700165 POSTRETIREMENT BENEFITS LIABILITIES 1555628 REFUNDABLE ADVANCES FROM DEPARTMENT OF EDUCATION 884363 3140156 X 35309682 4838041 -21598151 -16760110 52069792 0 52069792 33752140 1792457 1792457 31959683 22229934 22229934 54189617 Part V, Line 4: To support the institution in perpetuity for scholarships, lectureships, and various other operations and buildings on campus. Part X, Line 2: The University is exempt from income tax under Section 501(c)(3) of the Internal Revenue Code. Management has evaluated the effect of the guidance provided by GAAP on Accounting for Uncertainty in Income Taxes. Management believes that the University continues to satisfy the requirements of a tax-exempt organization at May 31, 2017. Management has evaluated all other tax positions that could have a significant effect on the financial statements and determined the University had no significant uncertain income tax positions at May 31, 2017. Part XI, Line 2d - Other Adjustments: TUITION DISCOUNTS REDUCING TUITION INCOME ON FINANCIALS -22,229,934. EARNINGS ON ASSETS HELD IN TRUST 359,887. Postretirement benefit related changes 258,169. CHange in value of interest rate swap 13,727. Part XII, Line 2d - Other Adjustments: Change in value of split-interest agreements 40,058. ASSIGNMENT OF INTEREST IN CHARITABLE REMAINDER TRUST 1,752,399. Part XII, Line 4b - Other Adjustments: TUITION DISCOUNTS REDUCING TUITION INCOME ON FINANCIALS 22,229,934. 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 all college generated documents including the college catalog. in addition, it is published in the local newspaper at least annually. Schedule E, Part I, Line 6 LINE 6A - THE UNIVERSITY RECEIVED STUDENT FINANCIAL AID GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION. Central America and the Caribbean 0 0 investments 23974609 0 0 0 0 0 0 23974609 0 23974609 1 0 1 1 1 0 Part I, line 3: The amount reported on Part I, Line 3, column (f) represents the fair market value of investments held at the end of the year. 1 Tuition discounts/scholarships 1248 22229934 Part I, Line 2: The process for monitoring the use of tuition discount or grants/scholarship funds at Mars Hill University includes the use of a matrix that limits and determines the amount of academic scholarship awarded with a maximum of $18,000. The Dean of Admissions and Financial Aid and the Director of Financial Aid meet monthly to review the current amount of tuition discount or grants/scholarships being awarded to ensure that the university stays within budget. Tuition discount, grant and scholarship reports are submitted to the President on a regular basis. the budget for these grants is approved by the Board of Trustees on an annual basis. The Dean of Admissions and Financial Aid and the Director of Financial Aid monitor all tuition discount financial aid awards prior to the award letter being mailed. Athletic grants are monitored by coaches and the Athletic Director with strict guidelines established by NCAA. The Athletic Director reports regularly to the President of the university the amount of tuition discount athletic grants awarded by each team per year. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DAN G LUNSFORD PRESIDENT 177721 0 0 0 0 0 9015 0 216 0 186952 0 0 0 Part I, Line 1a The President's spouse will occasionally travel with him on certain university functions. There is a substantial business purpose for such travel, and the expenses are documented and retained on file. Form 990, Part VI, Section B, line 11b the executive committee of the board and the full board of trustees are presented with a copy of the 990 for review prior to filing. Form 990, Part VI, Section B, line 12c Each new or returning trustee receives orientation which includes a discussion regarding the conflict of interest requirement. In the event that a potential conflict arises during the year, the board member will recuse himself/herself from all discussions and vote. Form 990, Part VI, Section B, line 15 the compensation committee of the board reviews and approves the compensation for the president and the top management officials. recommended changes require action and approval by the full board of trustees and discussions are documented in the meeting minutes. salaries are compared to other similar institutions and to salary surveys issued by the NC Independent College/Universities Annual Compensation Survey. Form 990, Part VI, Section C, line 19 THE ORGANIZATION'S GOVERNING documents, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS are available to the public upon request through the president's office. Form 990, Part XI, line 9: Trust Earnings 359,887. Postretirement benefit-related changes other than net periodic postretireme 258,169. Change in value of split interest agreements -40,058. Change in value of interest rate swaps 13,727. ASSIGNMENT OF INTEREST IN CHARITABLE REMAINDER TRUST -1,752,399. FORM 990, PART XIi, LINE 2C THERE IS AN AUDIT COMMITTEE COMPRISED OF TRUSTEES THAT HAS RESPONSIBILITY FOR THE RECOMMENDATION OF THE AUDITORS, OVERSIGHT OF THE AUDIT, AS WELL AS THE COMMUNICATION RESPONSIBILITY WITH THE AUDITORS. charitable remainder unitrust (8) trust NC mars hill college T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0