2016-01-28T15:02:04-06:00 2015-06-30 205907591 SMITH LEONARD PLLC 4035 PREMIER DRIVE SUITE 300 HIGH POINT NC 27265 990 2014-07-01 560650621 LAUREL UNIVERSITY INC LAUR 3368873000 1215 EASTCHESTER DRIVE HIGH POINT NC 27265 DR STEVE CONDON PRESIDENT 3368873000 2016-01-27 1 ADDISON R MAILLE P00294569 3368830181 2016-01-27 2014 2016-04-25 22:37:26Z X DR STEVE CONDON 1215 EASTCHESTER DRIVE HIGH POINT NC 27265 1984709 0 X WWW.LAURELUNIVERSITY.EDU X EXEMPT ORGANIZATION 1903 NC THE MISSION OF LAUREL UNIVERSITY IS TO BE A DISTINCTIVE BIBLICAL LEADER IN HIGHER EDUCATION. THE GRADUATES ARE PROVEN LEADERS IN LARGE AND SMALL CORPORATIONS, ACADEMIC INSTITUTIONS, BUSINESSES, AND THE MINISTRY. THE INSTITUTION'S SIZE AND INTENTIONALLY RIGOROUS CURRICULUM GUARANTEES A UNIQUE AND PROFOUND SET OF LEARNINGS OUTCOMES UPON GRADUATION. 14 14 87 0 0 0 47686 1930572 6451 0 1984709 237778 0 1267863 0 68133 779866 2285507 -300798 3115115 3190964 305081 718430 2810034 2472534 X THE MISSION OF LAUREL UNIVERSITY IS TO BE A DISTINCTIVE BIBLICAL LEADER IN HIGHER EDUCATION. THE GRADUATES ARE PROVEN LEADERS IN LARGE AND SMALL CORPORATIONS, ACADEMIC INSTITUTIONS, BUSINESSES AND THE MINISTRY. THE INSTITUTION'S SIZE AND INTENTIONALLY RIGOROUS CURRICULUM GUARANTEES A UNIQUE AND PROFOUND SET OF LEARNINGS OUTCOMES UPON GRADUATION. 0 0 1383977 237778 1930572 LAUREL UNIVERSITY IS A PRIVATE, INTERDENOMINATIONAL UNIVERSITY COMMITTED TO PROVIDING QUALITY EDUCATIONAL INSTRUCTION FOR UNDERGRADUATE AND GRADUATE DEGREES IN MINISTRY AND MANAGEMENT TO APPROXIMATELY 146 STUDENTS. 1383977 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 28 0 1 87 1 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NC X LAUREL UNIVERSITY 3368873000 1215 EASTCHESTER DRIVE HIGH POINT NC 27265 DR STEVE CONDON PRESIDENT 50.00 X X 113171 0 0 KEN ROWE TRUSTEE 1.00 X 0 0 0 MARK HARRIS TREASURER 1.00 X 0 0 0 HARVEY LOWD VICE CHAIR 1.00 X 0 0 0 DR LORY MORROW TRUSTEE 1.00 X 0 0 0 DERRICK DUGGINS TRUSTEE 1.00 X 0 0 0 RACHEL MOSS GAULDIN SECRETARY 1.00 X 0 0 0 MENA PARRISH TRUSTEE 1.00 X 0 0 0 DAVID OZMORE CHAIRMAN 1.00 X 0 0 0 HEATHER BOWERS CROSS TRUSTEE 1.00 X 0 0 0 DR BRENT BURDICK TRUSTEE 1.00 X 0 0 0 DR GARY ROYALS TRUSTEE 1.00 X 0 0 0 DAWNA COMPTON TRUSTEE 1.00 X 0 0 0 WAYNE SCOTT TRUSTEE 1.00 X 0 0 0 BONITA SHERROD TRUSTEE 1.00 X 0 0 0 DR JODY ALLEN HONORARY TRUSTEE 1.00 X 0 0 0 EMILY LITTLEFIELD CPA VP OF FINANCE AND INSTRUCTION 50.00 X 1353 0 0 114524 0 0 1 0 0 0 KNOWLEDGE ELEMENTS PO BOX 440128 NASHVILLE TX 37244 LEARNING MANAGEMENT SYSTEM 165742 1 47686 47686 EDUCATIONAL AND GENERA 611310 1930572 1930572 1930572 6451 6451 1984709 1937023 0 0 237778 237778 113171 113171 1154692 647547 443752 63393 14422 14422 36889 36889 35630 35630 42888 15654 22494 4740 88696 43600 45096 52873 26437 26436 11352 11352 12710 6355 6355 80494 40247 40247 49404 21738 27666 ONLINE PROGRAM DEVELOPM 150458 150458 REPAIRS AND MAINTENANCE 89329 89329 EQUIPMENT 45992 45992 MISCELLANEOUS 27538 15146 12392 41191 19854 21337 2285507 1383977 833397 68133 268393 41729 61994 49345 3647483 2097879 0 1549604 9143 1210756 3115115 0 3115115 3190964 56995 11435 305081 650000 305081 718430 X 1559158 1244756 78486 71554 1172390 1156224 2810034 2472534 3115115 3190964 X -300798 -20032 -16670 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1180638 3338 34375 1149601 0.97000 0.03000 0 0 741910 741910 1732863 1140085 592778 497071 370834 126237 448844 397499 51345 226795 189461 37334 1549604 MUTUTAL FUNDS 713704 F EQUITY SECURITIES 256935 F MONEY MARKET ACCOUNTS 240117 F 1210756 NOTE PAYABLE 650000 650000 X 1948007 -20032 -16670 -36702 1984709 0 1984709 2285507 0 2285507 0 2285507 PART X, LINE 2: IT IS THE UNIVERSITY'S POLICY TO EVALUATE ALL SIGNIFICANT TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2015 AND 2014. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING THE YEAR ENDED JUNE 30, 2012; HOWEVER, NO EXAMINATIONS ARE IN PROCESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST AND DIVIDENDS ON PERMANENTLY RESTRICTED NET ASSETS 15,051. LOSS ON DISPOSAL OF LIBRARY BOOKS -31,721. SCHEDULE D PART X OTHER LIABILITIES IN JUNE 2015, THE UNIVERSITY ENTERED INTO A LONG-TERM NOTE PAYABLE WITH A LOCAL BANK WITH A PRINCIPAL BALANCE OF $650,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL SOLICITATION MATERIALS DIRECT INTERESTED INDIVIDUALS TO THE SCHOOLS' WEBSITE WHERE THE NONDISCRIMINATION POLICY IS POSTED. SCHEDULE E, PART I, LINE 6 LAUREL UNIVERSITY RECEIVES FINANCIAL ASSISTANCE FROM THE US DEPARTMENT OF EDUCATION. THE UNIVERSITY RECEIVES SCHOLARSHIP AND STUDENT AID DOLLARS ON BEHALF OF THE STUDENTS ENROLLED. THE FINANCIAL AID AND GRANT DOLLARS PROVIDED BY THE FEDERAL GOVERNMENT ARE PASSED THROUGH TO THE STUDENTS. 0 VARIOUS ATHLETIC, ACADEMIC AND LEADERSHIP SCHOLARSHIPS 75 237778 SCHOLARSHIP VALUE BASED ON TUITION PRICES VARIOUS ATHLETIC, ACADEMIC AND LEADERSHIP SCHOLARSHIPS FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH BOARD REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: INTEREST AND DIVIDENDS ON LONG TERM INVESTMENTS 15,051. LOSS ON DISPOSAL -31,721.