2016-03-24T10:20:03-05:00 2015-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 777 E WISCONSIN AVE FLOOR 32 MILWAUKEE WI 53202 990 2014-06-01 470376551 MIDLAND UNIVERSITY MIDL 4027215480 900 NORTH CLARKSON STREET FREMONT NE 68025 JODI BENJAMIN VP OF FINANCE AND ADMINISTRATION 4029416142 2016-03-22 1 TROY MARINE CPA P00187863 4147775500 2016-03-22 2014 2016-08-17 19:52:53Z JODI BENJAMIN 900 NORTH CLARKSON STREET FREMONT NE 68025 43477042 0 X WWW.MIDLANDU.EDU X 1883 NE MIDLAND UNIVERISTY INSIPRES 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. 13 11 838 100 0 0 3472863 2147172 36346590 38965775 412523 910773 17886 1260243 40249862 43283963 16366103 17148009 0 0 12307189 13126306 191269 0 518847 10996966 12030935 39861527 42305250 388335 978713 58759059 59055327 22735408 21390226 36023651 37665101 MIDLAND UNIVERSITY INSPIRES PEOPLE TO LEARN AND LEAD IN THE WORLD WITH PURPOSE. 0 0 23394864 17148009 33939089 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 2014-2015 ENROLLMENT WAS 45 NON TRADITIONAL UNDERGRADUATE STUDENTS, 1191 TRADITIONAL STUDENTS IN THE FALL, 46 NON-TRADITIONAL AND 1059 TRADITIONAL STUDENTS IN THE SPRING, AND 126 GRADUATE STUDENTS. 7501888 510912 ACADEMIC SUPPORT:ACADEMIC SUPPORT INCLUDES THE LIBRARY, ADMISSIONS, FINANCIAL AID, INFORMATION TECHNOLOGY AND THOSE FUNCTIONS THAT DIRECTLY SUPPORT INSTRUCTION. 3717903 4515772 AUXILIARY ENTERPRISES:AUXILIARY ENTERPRISES AT MIDLAND UNIVERSITY ARE COMPRISED OF 7 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING FACILITY, AND A BOOKSTORE FOR FACULTY, STAFF AND STUDENTS. 653 STUDENTS RESIDED IN STUDENT HOUSING DURING FALL 2014 AND 595 STUDENTS DURING SPRING 2015. 34614655 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 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 1 101 0 838 1 0 0 0 0 0 1 1 0 0 0 0 X 13 11 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 302848 0 18430 JODY HORNER PRESIDENT, EFFECTIVE 2/1/15 40.00 X X 0 0 0 DEREK LEWIS DIRECTOR 1.00 1.00 X X 0 0 0 GARY PERKINS DIRECTOR 1.00 1.00 X X 0 0 0 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 STEVEN BULLOCK VP ACADEMIC AFFAIRS 40.00 X 203852 0 18117 JODI BENJAMIN VP FINANCE AND ADMIN 40.00 X 156944 0 18536 DENISE PRATT CONTROLLER 40.00 X 66835 0 13378 ELIZA FERZELY VP ADMISSIONS AND MARKETING 40.00 X 154707 0 195 885186 0 68656 7 0 1 0 SODEXO INC 4880 PAYSPHERE CIR CHICAGO IL 60674 FOOD AND CUSTODIAL SERVICES 1721447 NEMAHA LANDSCAPE CONST INC 430 W PIONEERS LINCOLN NE 68522 CONSTRUCTION 1474157 SAWYER CONSTRUCTION 220 W CLOVERLY FREMONT NE 68025 CONSTRUCTION 332210 CARTER-BALDWIN 200 MANSELL COURT E SUITE 450 ROSWELL GA 30076 CONSULTING 128551 4 547576 1599596 2147172 TUITION AND FEES 611710 33939089 33939089 AUXILIARY ENTERPRISES 611710 4515772 4515772 OTHER REVENUES 611710 153177 153177 CONFERENCES 611710 122253 122253 MISC. STUDENT PROGRAMS 611710 95585 95585 139899 139899 38965775 716502 716502 25030 6938 18092 18092 18092 380412 186141 194271 194271 194271 GAIN FROM INSURANCE SE 611710 1242151 1242151 1242151 43283963 38965775 0 2171016 17148009 17148009 983153 682602 280274 20277 9143218 6348125 2606521 188572 198929 138116 56710 4103 2121008 1472613 604651 43744 679998 472122 193852 14024 10538 7317 3004 217 61257 42531 17463 1263 74381 51643 21204 1534 224559 155911 64017 4631 275126 191020 78432 5674 765494 531482 218224 15788 210346 146043 59965 4338 820161 569437 233809 16915 68562 47603 19545 1414 1232000 855376 351215 25409 1477384 1025746 421168 30470 365928 254063 104318 7547 RESTRICTED GIFT EXPENSE 1385008 961609 394834 28565 ATHLETICS 1290367 895900 367854 26613 FOOD SERVICE 1117749 776052 318644 23053 BUILDING GROUNDS & MAIN 959186 665962 273442 19782 1692889 1175373 482602 34914 42305250 34614655 7171748 518847 6942206 7645310 4285108 3013839 682288 546466 3576531 3222450 47254723 20741442 25692615 26513281 10225590 11726466 7354721 6387515 58759059 59055327 2568684 2026487 2173620 2155564 547492 463740 16385000 15775000 380147 388735 680465 580700 22735408 21390226 X 10567851 14314371 8280873 7717567 17174927 15633163 36023651 37665101 58759059 59055327 X 978713 633164 29572 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 4572 0 0 0 4572 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. 18453336 225366 1331957 351508 19659151 16236579 431524 2117530 332297 18453336 14658151 268196 1310232 16236579 14550680 169770 -110278 -47979 14658151 12300319 237746 1850034 -162581 14550680 0.11770 0.70230 0.18000 0 0 3087177 3087177 136613 37207095 15554992 21788716 5981211 5186450 794761 842627 842627 26513281 CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 395846 DEFERRED DEBT ACQUISITION COSTS 239403 BENEFICIAL INTEREST IN TRUST 3902689 DEPOSITS HELD BY TRUSTEES 1821488 ACCRUED INTEREST & OTHER ASSETS 28089 6387515 ANNUITIES PAYABLE 151900 ASSET RETIREMENT OBLIGATION 428800 580700 X 26914944 633164 547071 -326864 853371 26061573 74381 17148009 17222390 43283963 25273494 547071 -356436 190635 25082859 74381 17148009 17222390 42305249 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, 2015 AND 2014. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR 2012 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN TRUSTS -29,580. DIRECT RENTAL EXPENSES 6,938. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE 59,667. LOSS ON CONTRIBUTIONS & OTHER RECEIVABLES -515. INTEREST EXPENSE -363,374. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 17,148,009. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 6,938. INTEREST EXPENSE -363,374. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 17,148,009. 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 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS 1195 17148009 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 BENJAMIN SASSE FORMER PRESIDENT 302598 0 0 0 250 0 0 0 18430 0 321278 0 0 0 STEVEN BULLOCK VP ACADEMIC AFFAIRS 145452 0 58400 0 0 0 0 0 18117 0 221969 0 0 0 JODI BENJAMIN VP FINANCE AND ADMIN 106444 0 50500 0 0 0 0 0 18536 0 175480 0 0 0 ELIZA FERZELY VP ADMISSIONS AND MARKETING 107707 0 47000 0 0 0 0 0 195 0 154902 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 60000 6353534 630234 24908 125812 5572580 2004 0 0 1 1 B 2190000 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 ATHLETIC SCHOLARSHIP STUDENT FINANCIAL AID 2ND NATURE OWNER OF COMPANY IS THE SPOUSE OF VPFA 45360 LAWN SERVICE 0 MELISSA SASSE SPOUSE OF PRESIDENT 32000 MELISSA SASSE, AN EMPLOYEE OF THE UNIVERSITY, IS MARRIED TO BENJAMIN SASSE, A BOARD MEMBER. MELISSA RECEIVED $32,000 IN COMPENSATION DURING THE YEAR. 0 INSPRO BOARD MEMBER OF THE UNIVERSITY 40000 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 -29,580. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE 59,667. LOSS ON CONTRIBUTIONS & OTHER RECEIVABLES -515. 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