2017-05-11T10:28:09-05:00 2016-06-30 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2015-07-01 560623936 UNIVERSITY OF MOUNT OLIVE INC UNIV 9196587825 634 HENDERSON STREET MOUNT OLIVE NC 28365 JOHN KUNST VP FINANCE & ADMINISTRATION 9196587825 2017-05-11 YONG ZHANG P01249785 3362724551 2015 2021-01-29 14:40:06Z UNIVERSITY OF MOUNT OLIVE DR PHILIP P KERSTETTER 634 HENDERSON STREET MOUNT OLIVE NC 28365 54204190 0 X WWW.UMO.EDU X 1951 NC CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE HIGHER EDUCATION INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 4,000 STUDENTS, AUXILIARY ENTERPRISES, OPERATION OF PLANT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING. 29 27 927 259 0 0 4551816 4615140 41502649 43334227 669424 557761 -26035 -15285 46697854 48491843 7846635 8026492 0 0 21116458 21666528 0 0 1295863 16607128 17236360 45570221 46929380 1127633 1562463 69165897 71401174 20806053 22216440 48359844 49184734 UNIVERSITY OF MOUNT OLIVE, INC. IS A CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. WE SERVE OUR STUDENTS, OUR FOUNDING CHURCH, AND OUR COMMUNITIES. 0 0 37486790 8026492 43334227 PROVIDING HIGHER EDUCATION TO STUDENTS UNDER 2 YEAR, 4 YEAR, AND GRADUATE DEGREE PROGRAMS. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 4,000 STUDENTS, AUXILIARY ENTERPRISES, INCLUDING OPERATION OF PLANT AND EQUIPMENT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING. 37486790 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 4405 0 1 927 1 0 0 0 0 0 1 1 0 0 0 0 X 29 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X JAY REBMAN 9196587825 634 HENDERSON STREET MOUNT OLIVE NC 283651263 X CARROLL C HAWKINS TRUSTEE 1.00 X 0 0 0 CAROLYN F JERNIGAN TRUSTEE 1.00 X 0 0 0 BOBBY KENNETH JONES TRUSTEE 1.00 X 0 0 0 LLOYD W JONES JR TRUSTEE 1.00 X 0 0 0 EARL W WORLEY JR TRUSTEE 1.00 X 0 0 0 JEAN M AVERETTE TRUSTEE 1.00 X 0 0 0 DAVID L MCPHERSON TRUSTEE 1.00 X 0 0 0 CHARLES W PITTMAN III TRUSTEE 1.00 X 0 0 0 DONALD RIBEIRO TRUSTEE 1.00 X 0 0 0 HOWARD F SCOTT TRUSTEE 1.00 X 0 0 0 EUGENE M SUMNER TRUSTEE 1.00 X 0 0 0 DR DEWAYNE EAKES TRUSTEE 1.00 X 0 0 0 CHRISTINE J GREENE TRUSTEE 1.00 X 0 0 0 THE REVEREND H ADRIAN GRUBBS TRUSTEE 1.00 X 0 0 0 STANLEY C HARRELL TRUSTEE 1.00 X 0 0 0 C DARRELL HORNE TRUSTEE 1.00 X 0 0 0 GENE T JERNIGAN TRUSTEE 1.00 X 0 0 0 EMMETT JUDSON POPE III TRUSTEE 1.00 X 0 0 0 KIM QUINN TRUSTEE 1.00 X 0 0 0 JERIYN J LEE TRUSTEE 1.00 X 0 0 0 ROBERT B KORNEGAY TRUSTEE 1.00 X 0 0 0 DONNIE E LASSITER TRUSTEE 1.00 X 0 0 0 MARY H DRUMMOND TRUSTEE 1.00 X 0 0 0 BENJAMIN D FORREST TRUSTEE 1.00 X 0 0 0 DR J BRYAN MARTIN TRUSTEE 1.00 X 0 0 0 ALBERT ELROD TRUSTEE 1.00 X 0 0 0 WESLEY E BEDDARD TRUSTEE 1.00 X 0 0 0 THE REVEREND DR JOHN E HILL JR TRUSTEE 1.00 X 0 0 0 THE REVEREND CHARLES L RENFROW TRUSTEE 1.00 X 0 0 0 DR PHILIP KERSTETTER PRESIDENT 50.00 1.00 X 215516 0 29531 JOHN KUNST VP FINANCE AND ADMINISTRATION 50.00 1.00 X 118613 0 16006 KATHY GARDNER ASSISTANT BOARD SECRETARY 50.00 X 45880 0 12538 ELLEN S JORDAN PROFESSOR 50.00 X 107519 0 14693 ELIZABETH CARRERE EXECUTIVE VICE PRESIDENT 50.00 X 110752 0 24984 KENNETH HINES VP ACADEMIC AFFAIRS 50.00 X 103450 0 13917 KATHY BEST DEAN - TILMANN SCHOOL 50.00 X 101783 0 16121 803513 0 127790 6 0 1 0 CAPITAL EDUCATION LLC 200 SOUTH WACKER DRIVE SUITE 1600 CHICAGO IL 60606 ONLINE PROGRAM SERVICE PROVIDER 1848275 PIONEER COLLEGE CATERERS INC 25055 WEST VALLEY PARKWAY SUITE 12 OLATHE KS 66061 FOOD SERVICES 1326533 DANIELS AND DANIELS CONSTRUCTION CO INC PO BOX 10337 GOLDSBORO NC 27532 CONSTRUCTION SERVICES 1131326 HIGH STANDARD CLEANING PO BOX 1024 GOLDSBORO NC 27533 CLEANING SERVICES 440811 VIABLE MEDIA SERVICES PO BOX 1414 NEW BERN NC 28563 MARKETING/ADVERTISING 363514 14 463177 654142 3497821 801577 4615140 STUDENT TUITION AND FEES 611310 38532636 38532636 AUXILIARY ENTERPRISES 611310 4407384 4407384 OTHER PROGRAM INCOME 611310 394207 394207 43334227 979968 979968 5274855 5697062 -422207 -422207 -422207 0 463177 15285 -15285 -15285 48491843 43334227 0 542476 8026492 8026492 833729 315197 471000 47532 16761058 14283161 1835464 642433 4071741 3330831 536259 204651 100818 100818 96200 96200 41844 41844 3105907 2529825 540638 35444 1290805 1244842 16277 29686 597892 405889 98109 93894 932338 133179 776167 22992 2263942 1305098 896808 62036 626567 560332 56273 9962 211714 117774 75078 18862 872138 872138 1749606 1301110 390351 58145 291211 291211 OTHER 2233698 1441452 752774 39472 FOOD SERVICES 1142102 1142102 UTILITIES 1082719 883675 180720 18324 MAINTENANCE & REPAIRS 596859 465831 118598 12430 46929380 37486790 8146727 1295863 1600 1600 7931134 12595544 2531127 2289366 3141261 3691010 443975 446451 573289 665568 47539284 23743748 23355733 23795536 13108893 12919835 9069072 6669160 9009813 8327104 69165897 71401174 3247819 2229487 2873800 3119400 13342655 15286086 1341779 1581467 20806053 22216440 X 9472624 10067446 11268571 11481302 27618649 27635986 48359844 49184734 69165897 71401174 X 1562463 -54928 -682645 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 254324 X X X 0 23456312 416162 423202 814708 23480968 22936446 926435 536526 943095 23456312 20234523 980012 2329411 607500 22936446 18379085 557432 1781239 483233 20234523 17521056 541972 766760 450703 18379085 0.03060 0.84300 0.12640 0 0 1286117 1286117 30463933 11858656 18605277 11907434 9535288 2372146 3881800 2349804 1531996 23795536 5375026 F NONEXCHANGE TRADED STOCK 1294134 F 6669160 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 7456751 CASH VALUE OF LIFE INSURANCE 185990 OTHER ASSETS 684363 8327104 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 745351 REFUNDABLE ADVANCES 446451 MISCELLANEOUS 66194 INTEREST RATE SWAP 323471 1581467 X 39768893 -54928 25830 -8709137 -8738235 48507128 -15285 -15285 48491843 38944003 25830 15285 41115 38902888 8026492 8026492 46929380 PART III, LINE 4: GEMSTONES AND ARTWORK ARE MAINTAINED FOR STUDY BY STUDENTS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS AND SUPPORT INSTRUCTION AND OTHER GENERAL INSTITUTIONAL NEEDS. PART X, LINE 2: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -8,026,492. CHANGE IN TRUST VALUE -359,174. INTEREST RATE SWAP -323,471. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES -15,285. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSE 15,285. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 8,026,492. 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 POLICY IS INCLUDED ON THE APPLICATION (PAPER AND WEB VERSION), THE CATALOG, AND ON THE WEBSITE - ADMISSIONS AND FUTURE STUDENTS LANDING PAGES AND EMPLOYMENT PAGE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY OF MOUNT OLIVE STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING FEDERAL WORK-STUDY, FEDERAL PERKINS LOANS, FEDERAL PELL GRANTS, FEDERAL DIRECT STUDENT LOANS, NC NEED-BASED SCHOLARSHIPS, NC FORGIVABLE EDUCATION LOANS FOR SERVICE, NC VOCATIONAL REHABILITATION GRANTS, AND NC GOLDEN LEAF FOUNDATION SCHOLARSHIPS. COMMUNITY CHURCH DINNERS 390777 390777 15285 HANDYMART GOLF TOURNAMENT 72400 72400 463177 463177 15285 15285 -15285 1 STUDENT GRANTS 488 433506 STUDENT FINANCIAL AID 972 7592986 PART I, LINE 2: THE DIRECTOR OF FINANCIAL AID'S OFFICE MAINTAINS ALL DOCUMENTATION TO SUPPORT THAT THE AWARDED STUDENTS HAVE SATISFIED THE ELIGIBILITY REQUIREMENTS FOR THE VARIOUS GRANTS PROVIDED TO THE UNIVERSITY FOR STUDENTS. CRITERIA FOR AWARDING ANY GRANTS IS ALSO MAINTAINED BY THE DIRECTOR OF FINANCIAL AID'S OFFICE AND IS APPROVED BY THE VP OF ENROLLMENT. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR PHILIP KERSTETTER PRESIDENT 215516 0 0 0 0 0 11250 0 18281 0 245047 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY IS CONTRACTUALLY OBLIGATED TO LIVE IN HOUSING ADJACENT TO THE UNIVERSITY. SUCH HOUSING IS FOR THE CONVENIENCE OF THE UNIVERSITY; ACCORDINGLY THERE ARE MULTIPLE FUNCTIONS HELD AT THE PRESIDENT'S HOME ANNUALLY. HOUSING VALUE IS APPROXIMATELY $20,000 ANNUALLY AND IS NOT TAXABLE COMPENSATION TO THE PRESIDENT. KORNEGAY COMPANY TRUSTEE/RELATED ORG 631657 RENTAL PAYMENTS TO THE KORNEGAY COMPANY -- BOARD MEMBER GEORGE KORNEGAY WAS THE OWNER 0 X 458 COST X 5982 COST X 10 732352 FAIR MARKET VALUE X 14 6102 COST X MACHINERY AND EQUIPMENT 3 47225 COST X MISCELLANEOUS SMALL GIFTS 10 5974 COST X ATHLETIC EQUIPMENT 1 3484 COST 7 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS ON COLUMN B REFLECTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE CONTROLLER, VP FINANCE, AND THE BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES. THE FORM 990 IS LATER MADE AVAILABLE TO EACH MEMBER OF THE BOARD. THERE HAVE BEEN NO CHANGES TO THE REVIEW PROCESS SINCE THE PRECEDING YEAR. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY UNDERGOES CONSTANT REVIEW, ANY CONFLICTS ARE DISCLOSED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT, VP OF INSTITUTIONAL ADVANCEMENT, AND VP FINANCE AND ADMINISTRATION REQUIRE THE USE OF A COMPENSATION COMMITTEE, INDEPENDENT CONSULTANT, COMPENSATION SURVEY, OR BOARD/COMMITTEE APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN TRUST VALUE -359,174. CHANGE INTERST RATE SWAP -323,471. FORM 990, PART XII, LINE 2C THE REVIEW AND OVERSIGHT PROCESS HAS NOT CHANGED SINCE THE PRECEEDING YEAR. THE UNIVERSITY OF MOUNT OLIVE FOUNDATION 634 HENDERSON STREET MOUNT OLIVE NC 28365 200371529 SEE PART VII NC 501(C)(3) LINE 11B, II N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATION TO SEEK ALTERNATIVE SOURCES OF SUPPORT TO STRENGTHEN THE UNIVERSITY OF MOUNT OLIVE'S OUTREACH TO STUDENTS AND THE COMMUNITY.