2017-05-15T10:42:17-05:00 2016-06-30 221478099 COHNREZNICK LLP 400 CAPITOL MALL SUITE 1200 SACRAMENTO CA 95814 990 2015-07-01 200909475 OLIVET UNIVERSITY OLIV 9517630500 36401 TRIPP FLATS ROAD ANZA CA 92539 TONY LIN CHAIRMAN 9517630500 2017-05-15 1 LISA M CUMMINGS CPA P00043433 9164429100 2015 2021-01-29 14:40:06Z TRACY DAVIS 36401 TRIPP FLATS ROAD ANZA CA 92539 28187507 0 X OLIVETUNIVERSITY.EDU X 2004 CA PROVIDING QUALITY CHRISTIAN EDUCATION TO THE NETWORK GENERATION. 6 3 116 61 0 0 6034191 6276056 12850189 22280889 1034 674 631399 -370112 19516813 28187507 273170 5064840 0 0 1697366 2210707 0 0 31675 9005873 12392454 10976409 19668001 8540404 8519506 34800783 44745607 11352447 12777765 23448336 31967842 PROVIDING QUALITY CHRISTIAN EDUCATION TO THE NETWORK GENERATION. 0 0 12894394 5064840 22280889 PROVIDED EDUCATION ON VARIOUS CHRISTIAN SUBJECTS TO STUDENTS.IN THE 2015-2016 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. 829875 PROVIDED STUDENT SERVICES INCLUDING ADMISSIONS, SOCIAL AND CULTURE DEVELOPMENT, COUNSELING AND CAREER GUIDANCE, AND FINANCIAL AID ASSISTANCE. 1014950 PROVIDED ACADEMIC SUPPORT SERVICES INCLUDING LIBRARY DEVELOPMENT, PROFESSIONAL ACADEMIC DEVELOPMENT, AND ACADEMIC COMPUTING SUPPORT. 14739219 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 1 1 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 1 0 1 116 1 0 0 0 0 0 0 0 0 0 0 X 6 3 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 TONY LIN CHAIRMAN 2.00 X X 0 0 0 WINNIE WONG SECRETARY 1.00 X X 0 0 0 WILLIAM ANDERSON 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 TRACY DAVIS PRESIDENT 40.00 X X 98400 0 0 GINTURN TRAN VICE PRESIDENT 40.00 X 44400 0 0 142800 0 0 0 0 0 0 0 6276056 6276056 RESEARCH INCOME 900099 17540000 17540000 TUITION AND FEES 611310 4740889 4740889 22280889 674 674 DISCOUNT ON PLEDGES 900099 -370112 -370112 -370112 28187507 22280889 0 -369438 4750840 4750840 314000 314000 142800 142800 1897310 1546965 321575 28770 170597 121106 46586 2905 206999 206999 80490 80490 18049 18049 61396 55911 5485 32250 14250 18000 106133 50035 56098 1417669 1172039 245630 125318 109893 15425 5503 2587 2916 549685 539030 10655 1784370 1360845 423525 228227 228227 EQUIPMENT RENTAL/MAINTE 5188244 3598794 1589450 SERVICE FEES 830996 380139 450857 REPAIRS AND MAINTENANCE 503205 94703 408502 STUDENT SERVICES 341408 298558 42850 912512 311475 601037 19668001 14739219 4897107 31675 608152 319106 1168 2208590 4635478 536912 1522411 2787223 12653 7488 39778575 4686343 31250773 35092232 73500 47060 110203 333441 34800783 44745607 977751 1811295 21415 345198 7075474 6989295 3277807 3631977 11352447 12777765 X 21239746 27332364 2208590 4635478 23448336 31967842 34800783 44745607 8519506 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11017048 11017048 18318645 589136 17729509 9409257 3422476 5986781 1033625 674731 358894 35092232 CAPITAL LEASE 3506289 DEFICIENCY IN PLEROS INC. INVESTMENT 119488 DEFICIENCY IN BAM RESOURCE TRAINING INC. INVESTMENT 6200 3631977 X PART X, LINE 2: THE PRINCIPAL ACTIVITIES OF THE UNIVERSITY ARE EXEMPT FROM INCOME TAXES UNDER SECTOIN 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 ON 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, 2016 AND FOR THE YEAR THEN ENDED, CURRENT AND DEFERRED TAXES ARE NOT MATERIAL TO UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. THE UNIVERSITY HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2016. THE UNIVERSITY'S FEDERAL AND STATE INCOME TAX RETURNS PRIOR TO FISCAL YEARS 2013 AND 2012, 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 POLICY IS CIRCULATED IN GENERAL CIRCULARS OF THE DENOMINATION AND MISSION AGENCIES FROM WHICH OLIVET UNIVERSITY RECRUITS ITS STUDENTS. 1 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANTMAKING 314000 0 0 0 0 0 0 314000 0 314000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, TRAINING CENTER PURCHASE 314000 WIRE TRANSFER 1 0 0 0 0 0 0 PART I, LINE 2: THE ORGANIZATION RECEIVED A FUND EXPENDITURE REPORT AND CONDUCTED ADDITIONAL INSPECTION OF THE FACILITIES TO VERIFY USE AS A TRAINING CENTER AND AS A SITE TO TRAIN AND EDUCATE CHRISTIAN MISSIONARIES. 1 WORLD OLIVET ASSEMBLY 115 DOVER FURNACE RD DOVER PLAINS NY 12522 461616553 501(C)(3) 4661860 CHURCH MISSIONS OLIVET ACADEMY 6 BARCLAY ST FL 5 NEW YORK NY 10007 810683419 501(C)(3) 66900 CHRISTIAN CHILDREN EDUCATION ASSOCIATION FOR BIBLICAL HIGHER EDUCATION 5850 TG LEE BLVD STE 130 ORLANDO FL 32822 351055662 501(C)(3) 12100 RISINGTIDE CAMPAIGN/EDUCATION 3 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. THE CHRISTIAN POST TRUSTEE 1001624 R&D AGRMNT 0 YIBADA INC TRUSTEE 372460 R&D AGRMNT 0 FORM 990, PART IV, LINE 33, OWNERSHIP OF DISREGARDED ENTITY: DOVER GREENS, LLC (F/K/A OLIVET MANAGEMENT, 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 11 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 (FKA OLIVET MGMT LLC) 73 WHEELER ROAD WINGDALE NY 12594 463068978 MANAGING CAMPUS PROPERTY DE -561244 13814709 OLIVET UNIVERSITY DOVER WINGDALE PROPERTIES LLC 73 WHEELER ROAD WINGDALE NY 12594 475159062 NOT YET DETERMINED DE OLIVET UNIVERSITY PLEROS INC 1025 HOWARD STREET SAN FRANCISCO CA 94103 473268788 CAMPUS BOOKSTORE CA OLIVET UNIVERSITY C 305115 -207639 1.00000 1 STEVENS BOOKS GROUP INC 6700 OLD WAKE FOREST ROAD RALEIGH NC 27616 261906875 ONLINE BOOKSTORE CA OLIVET UNIVERSITY C -10118 72775 1.00000 1 BAM RESOURCE TRAINING INC 13131 ARABELLA DR CERRITOS CA 90703 810831490 ONLINE MEDIA AND RETAIL CA OLIVET UNIVERSITY C 1411 76 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 62500 CASH PLEROS INC C 253988 CASH BAM RESOURCE TRAINING INC B 33100 CASH BAM RESOURCE TRAINING INC C 39300 CASH STEVENS BOOKS GROUP INC B 45560 CASH