2017-02-15T00:00:00-06:00 2016-05-31 390859910 Baker Tilly Virchow Krause LLP 777 E Wisconsin Ave Floor 32 Milwaukee WI 53202 990 2015-06-01 470376551 Midland University MIDL 4027215480 900 North Clarkson Street Fremont NE 68025 JODI BENJAMIN VP of Finance and Administration 4029416142 2017-02-03 1 Troy Marine CPA P00187863 4147775500 2017-02-03 2015 2021-01-29 14:40:06Z JODI BENJAMIN 900 North Clarkson Street Fremont NE 68025 46357666 0 X www.midlandu.edu X 1883 NE Midland University inspires people to learn and lead in the world with purpose. We are a liberal arts college affiliated with the Evangelical Lutheran Church in America. The college holds the following core values to be the foundation of our identity as a community: faith, learning, quality, respect, and stewardship. 12 10 869 100 0 0 2147172 5026883 38965775 40327578 910773 846661 1260243 3424 43283963 46204546 17148009 18012949 0 0 13126306 13285882 0 0 618619 12030935 13540500 42305250 44839331 978713 1365215 59055327 56970043 21390226 21492184 37665101 35477859 Midland University inspires people to learn and lead in the world with purpose. 0 0 24498261 18012949 35147538 INSTRUCTION:MIDLAND UNIVERSITY OFFERS MULTIPLE DEGREES INCLUDING BACHELORS DEGREES IN BUSINESS, EDUCATION AND NURSING, AS WELL AS A MASTERS IN BUSINESS ADMINISTRATION AND EDUCATION. THE 2015-2016 ENROLLMENT WAS 41 NON TRADITIONAL UNDERGRADUATE STUDENTS, 1184 TRADITIONAL STUDENTS IN THE FALL, 37 NON-TRADITIONAL AND 1049 TRADITIONAL STUDENTS IN THE SPRING, AND 140 GRADUATE STUDENTS. 7446991 503392 ACADEMIC SUPPORT:Academic support includes the library, admissions, financial aid, information technology and those functions that directly support instruction. 3674021 4677004 AUXILIARY ENTERPRISES:AUXILIARY ENTERPRISES AT MIDLAND UNIVERSITY ARE COMPRISED OF 8 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING FACILITY, AND A BOOKSTORE FOR FACULTY, STAFF AND STUDENTS. 638 STUDENTS RESIDED IN STUDENT HOUSING DURING FALL 2015 AND 587 STUDENTS DURING SPRING 2016. 35619273 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 1 0 0 0 1 85 0 869 1 0 0 0 0 0 1 1 0 0 0 0 X 12 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JODI BENJAMIN 4029416102 900 NORTH CLARKSON STREET FREMONT NE 68025 Jennifer Peterson Director 1.00 1.00 X 0 0 0 melody denson md Director 1.00 1.00 X 0 0 0 mike jacobson Director 1.00 1.00 X 0 0 0 Ryan Taliaferro Director 1.00 1.00 X 0 0 0 Steve Pribnow Director 1.00 1.00 X 0 0 0 Patrick Booth Director 1.00 1.00 X 0 0 0 randy eikmeier Director 1.00 1.00 X 0 0 0 benjamin Sasse Former President 40.00 X X 81304 0 1586 Jody Horner President, effective 2/1/15 40.00 X X 285042 0 17478 Kari Ridder Director 1.00 1.00 X 0 0 0 Dan Curell Director 1.00 1.00 X 0 0 0 Mark Fahelson Director 1.00 1.00 X 0 0 0 Brian Maas Director 1.00 1.00 X 0 0 0 Steven Bullock VP Academic Affairs - former 40.00 X 46703 0 6221 Jodi Benjamin VP Finance and Admin 40.00 X 133216 0 18677 Stephanie Gould VP Human Resources 40.00 X 16801 0 3075 Denise Pratt Controller 40.00 X 70941 0 13378 Eliza Ferzely VP Admissions and Marketing 40.00 X 130198 0 214 Susan Kruml VP Academic Affairs 40.00 X 22094 0 2100 Merritt Nelson VP Student Affairs 40.00 X 98968 0 12467 Raymond Sass III VP Strategy 40.00 X 155257 0 6422 1040524 0 81618 6 0 1 0 Sodexo Inc 4880 Paysphere Cir Chicago IL 60674 Food and Custodial Services 1693166 McKinnis Roofing 164 S 1st Street PO Box 37 Blair NE 68008 Construction 1597478 Campus Management 5201 Congress Ave Boca Raton FL 33487 Software 751395 Clark Creative Group 514 South 13th Street Omaha NE 68102 Consulting 101923 4 5000 605007 4416876 5026883 Tuition and Fees 611710 35147538 35147538 Auxiliary enterprises 611710 4677004 4677004 Misc. Student programs 611710 309876 309876 Other Revenues 611710 84882 84882 Conferences 611710 73333 73333 34945 34945 40327578 571608 571608 7135 4067 3068 3068 3068 406851 131798 275053 275053 275053 17611 5000 17255 356 356 46204546 40327578 0 850085 18012949 18012949 969584 636344 310881 22359 9180967 6025527 2943726 211714 211802 139007 67911 4884 2242781 1471951 719111 51719 680748 446779 218271 15698 26223 17210 8408 605 60617 39783 19436 1398 26905 17658 8627 620 328787 215785 105420 7582 365292 239743 117125 8424 403775 265000 129464 9311 190614 125101 61117 4396 956765 627931 306771 22063 50651 33243 16240 1168 1135270 745085 364006 26179 1420721 932428 455531 32762 345543 226782 110793 7968 athletics 1497010 982497 479992 34521 Restricted Gift Expense 1487412 976198 476914 34300 Repair Costs related to 1238106 812577 396978 28551 food service 1185098 777787 379982 27329 2821711 1851908 904735 65068 44839331 35619273 8601439 618619 7645310 8265383 3013839 10057 546466 608086 3222450 2523938 48289539 22116802 26513281 26172737 11726466 12472732 6387515 6917110 59055327 56970043 2026487 3250888 2155564 2164894 463740 321495 15775000 14820000 388735 353664 580700 581243 21390226 21492184 X 14314371 12564530 7717567 5343277 15633163 17570052 37665101 35477859 59055327 56970043 X 1365215 -597975 -2954482 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 4451 0 0 0 4451 0 Part II-B, Line 1: The university is a member of the Association of Independent Colleges and Universities of Nebraska (AICUN) and National Association of Independent Colleges and Universities (NAICU). A portion of the member dues paid by the university to these associations were considered used for lobbying purposes. 19659151 1421774 159081 393899 20846107 18453336 225366 1331957 351508 19659151 16236579 431524 2117530 332297 18453336 14658151 268196 1310232 16236579 14550680 169770 -110278 -47979 14658151 0.11550 0.70070 0.18380 0 0 3087177 3087177 136613 37298866 16640764 20794715 7640325 5476038 2164287 126558 126558 26172737 Cash surrender value of life insurance policies 395706 Deferred debt acquisition costs 208342 Beneficial interest in trust 4305532 Deposits held by trustees 1821773 ACCRUED INTEREST & OTHER ASSETS 185757 6917110 Annuities Payable 138143 ASSET RETIREMENT OBLIGATION 443100 581243 X 24764024 -597975 470721 -3273414 -3400668 28164692 26905 18012949 18039854 46204546 26951266 470721 -318932 151789 26799477 26905 18012949 18039854 44839331 Part V, Line 4: Midland University's endowment fund is used to support students with scholarship funds and various other instructional programs. Part X, Line 2: THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2016 AND 2015. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. Part XI, Line 2d - Other Adjustments: CHANGE IN BENEFICIAL INTEREST IN TRUSTS -141,695. Direct Rental Expenses 4,067. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE -10,287. Loss on Contributions & Other Receivables -2,802,500. Interest Expense -322,999. Part XI, Line 4b - Other Adjustments: Grants & Scholarships 18,012,949. Part XII, Line 2d - Other Adjustments: Direct Rental Expenses 4,067. Interest Expense -322,999. Part XII, Line 4b - Other Adjustments: Grants & Scholarships 18,012,949. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS INCLUDED IN THE STUDENT HANDBOOK, THE ACADEMIC CATALOG AND ON THE COLLEGE'S WEBSITE; ALL OF WHICH ARE AVAILABLE TO THE COLLEGE COMMUNITY. Schedule E, Part I, Line 6 THE COLLEGE RECEIVES SUPPORT FROM THE STATE AND FROM THE UNITED STATES GOVERNMENT IN CONNECTION WITH STUDENT AID PROGRAMS SUCH AS FEDERAL WORK-STUDY PROGRAMS, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND PERKINS LOAN FUNDS. THE COLLEGE ALSO RECEIVES VARIOUS OTHER FEDERAL AND STATE EDUCATIONAL AND RESEARCH GRANTS OR SUBSIDIES. 1 Steier Group 10844 Old Mill Road Omaha NE 68154 campaign planning 0 0 27993 -27993 27993 -27993 Golf Tournament 22611 5000 17611 10992 6263 22611 5000 17611 10992 6263 17255 356 1 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS 1200 18012949 Part I, Line 2: Midland University OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT-OF-POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. X X X 0 0 0 0 0 0 0 0 0 Jody Horner President, effective 2/1/15 267958 0 0 0 17084 0 0 0 17478 0 302520 0 0 0 Jodi Benjamin VP Finance and Admin 113216 0 20000 0 0 0 0 0 18677 0 151893 0 0 0 Raymond Sass III VP Strategy 111757 0 43500 0 0 0 0 0 6422 0 161679 0 0 0 Part I, Line 1a HEALTH CLUB BENEFITS ARE PROVIDED TO ALL EMPLOYEES. Part I, Line 1b MIDLAND UNIVERSITY DOESN'T HAVE A REIMBURSEMENT POLICY REGARDING THE HEALTH CLUB BENEFIT DUE TO THE FACT THAT THIS ISN'T A REIMBURSABLE EXPENSE, BUT RATHER AN EMPLOYEE BENEFIT PROVIDED TO ALL OF OUR EMPLOYEES. A Nebraska educational finance authority 521293953 63966PkC7 2003-05-07 6297928 Capital improvements 0 0 0 B NEBRASKA EDUCATIONAL FINANCE AUTHORITY 521293953 63966PNK6 2004-12-16 10337393 Capital improvements 0 0 0 A 75000 6353534 630234 24908 125812 5572580 2004 0 0 1 1 B 2525000 10727519 797640 46175 195270 9688434 2006 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 1 0 0 1 MBIA Inc 26.400000000000 1 0 1 B 0 0 0 1 0 0 1 See Part Vi 1 1 1 A 1 B 1 Date Rebate Computation Performed Issuer Name: Nebraska educational finance authority Date the Rebate Computation was Performed: 04/30/2013 Issuer Name: NEBRASKA EDUCATIONAL FINANCE AUTHORITY Date the Rebate Computation was Performed: 11/30/2011 Part II, Line 3 - The total proceeds do not agree to the issue price in PART I, COLUMN (E) DUE TO THE INVESTMENT EARNINGS. PART IV, COLUMN B, LINE 5B - CONSTRUCTION FUND - MORGAN STANLEY FLEXIBLE AGREEMENTS INC.; RESERVE FUND - MORGAN STANLEY FLEXIBLE AGREEMENTS, INC. PART IV, COLUMN B, LINE 5C - CONSTRUCTION FUND - 2.0 YEARS; RESERVE FUND - 24.8 YEARS. DISCLOSURE SUBJECT TO FERPA LAWS 13000 PRESIDENTIAL SCHOLARSHIP STUDENT FINANCIAL AID diSCLOSURE SUBJECT tO FERPA LAWS 17388 tuition remission 2nd Nature owner of company is the spouse of VPFA 48000 Lawn Service 0 Inspro Board Member of the University 217489 INSPRO, INC, OWNED IN PART BY RANDY EIKMEIER, A BOARD MEMEBER OF THE UNIVERSITY, RECEIVED APPROXIMATELY $40,000 IN COMMISSION REVENUE FROM THE UNIVERSITY. 0 Form 990, Part VI, Section B, line 11 The form 990 was provided to and reviewed by the board of directors before filing with the IRS. Form 990, Part VI, Section B, line 12c The Board of Trustees is asked to sign a conflict of interest statement on an annual basis. Form 990, Part VI, Section B, line 15 BOARD APPROVES THE PRESIDENTIAL COMPENSATION, EMPLOYMENT CONTRACTS AND ALL ANNUAL SALARY INCREASES. THE PRESIDENT AND VP OF FINANCE & ADMIN. APPROVES THE SALARIES OF ALL OTHER EMPLOYEES. THE BOARD IS INFORMED OF SENIOR MANAGEMENT TEAM SALARIES WHEN THERE IS A NEW HIRE. Form 990, Part VI, Section C, line 19 Available upon request if deemed reasonable by the institution. Form 990, Part XI, line 9: CHANGE IN BENEFICIAL INTEREST IN TRUSTS -141,695. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE -10,287. Loss on Contributions & Other Receivables -2,802,500. Form 990, Part XII, Line 2c The oversight and selection process for the audit of the financial statements did not change from the prior year. County of Dodge Head Start 900 N Clarkson St Fremont NE 68025 470493797 Education to preschool children NE 501c(3) Line 7 midland university 0 CHARITABLE REMAINDER UNITRUSTS (2) Charitable Trusts NE T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 County of Dodge Head Start Q 12500 Book Cost/Expense