2015-03-04T10:28:23-06:00 2014-05-31 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2013-06-01 582624570 Shorter University SHOR 7062912121 315 Shorter Avenue Rome GA 301654267 Susan Zeird VP of Finance 7062337201 2015-03-04 1 David C Moja P00747006 6785185301 2013 2016-02-25 16:41:14Z Dr Donald V Dowless 315 Shorter Avenue Rome GA 301654267 61749633 0 X www.shorter.edu X 1873 GA Shorter University is a private Christian non-profit comprehensive liberal arts institution. 37 35 1019 98 0 0 3191149 5710324 44379336 42733853 1499225 1251104 940715 111867 50010425 49807148 12019658 12760228 0 0 20936419 19907784 0 0 533287 17780934 16625888 50737011 49293900 -726586 513248 66695433 71282440 21136035 23543696 45559398 47738744 X Advancing God's Kingdom through a commitment to academic excellence, spiritual growth, Christian leadership, and global service within the context of a biblical worldview. 0 0 12760228 12760228 Scholarship and financial aid - Comprehensive financial assistance program includes scholarships, grants, loans and part-time campus employment. Every student enrolled full-time at Shorter University receives some form of financial assistance. 11932744 36560008 Instructional - funds expended for instructional activities in Associate, Bachelor, and Master degree programs. Enrollment in 2013 - 2014 included 3,451 students. 8066416 5946302 Student support - Funds expended for activities contributing to students' well being and intellectual, cultural, and social development outside of formal instruction. 7811754 227543 Academic support - Expenditures integral to the operation and support of the academic services of the University.Auxiliary enterprises - Expenditures to provide services to student, faculty, and staff including housing, cafeteria, and bookstore. 7811754 227543 40571142 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 1 3750 0 1 1019 1 0 0 0 0 0 1 1 0 0 0 1 0 0 X 37 35 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 0 0 GA X Susan Zeird 7062912121 315 Shorter Avenue Rome GA 301654267 David Harper Board Chair 1.00 X X 0 0 0 Carlisle Driggers Vice Chair of Board 1.00 X X 0 0 0 Marilyn Drake Secretary 1.00 X X 0 0 0 Don Hattaway Vice Chair (Pt Yr)/Chair(Pt Yr)/Trustee 1.00 X 0 0 0 Joe Frank Harris Jr Board Chair(Pt Yr)/Trustee (Pt Yr) 1.00 X 0 0 0 Lewis Abbott Trustee 1.00 X 0 0 0 Stephan Anthony Trustee 1.00 X 0 0 0 Joy Battles Trustee 1.00 X 0 0 0 John Bowman Trustee 1.00 X 0 0 0 Charlie Bridges Trustee 1.00 X 0 0 0 Clyde Collier Trustee 1.00 X 0 0 0 Cheryl Cox Trustee 1.00 X 0 0 0 Jim Davenport Trustee 1.00 X 0 0 0 Jim Dudley Trustee 1.00 X 0 0 0 Jerry Emerson Trustee 1.00 X 0 0 0 Bob English Trustee 1.00 X 0 0 0 David Frankline Trustee 1.00 X 0 0 0 Ken Guice Trustee 1.00 X 0 0 0 Jeff Hawkins Trustee 1.00 X 0 0 0 Stacy Howell Trustee 1.00 X 0 0 0 Parnick Jennings Trustee 1.00 X 0 0 0 Vivian Johnson Trustee 1.00 X 0 0 0 Jim Law Trustee 1.00 X 0 0 0 Wanda Levan Trustee 1.00 X 0 0 0 Philip May Trustee 1.00 X 0 0 0 Keith McBroom Trustee 1.00 X 0 0 0 David Parker Trustee 1.00 X 0 0 0 John Pennington Trustee 1.00 X 0 0 0 Ralph Presley Trustee 1.00 X 0 0 0 Scarlett Rackley Trustee 1.00 X 0 0 0 Jennifer Reynolds Trustee 1.00 X 0 0 0 Sherold Salmon Trustee 1.00 X 0 0 0 Gerald Shields Trustee 1.00 X 0 0 0 David Sparks Trustee 1.00 X 0 0 0 Tony Swafford Trustee 1.00 X 0 0 0 James Watkins Trustee 1.00 X 0 0 0 J Robert White Trustee 1.00 X 0 0 0 Randy Womack Trustee 1.00 X 0 0 0 Rickey Underhill Part Year Trustee 1.00 X 0 0 0 Gail Wilkins Part Year Trustee 1.00 X 0 0 0 Dr Donald Dowless President 60.00 X 200561 0 52601 Dr Donald Martin Provost 60.00 X 136928 0 21458 Susan Zeird VP of Finance, CFO 60.00 X 99745 0 6683 Timothy Naddy Assistant Prof. of Accounting 40.00 X 106595 0 16025 George Cunningham Assp. Prof. of Sports Management 40.00 X 102018 0 18361 Stephanie Owens Former VP of Finance, CFO 60.00 X 102210 0 11890 748057 0 127018 5 1 1 0 ADE Builders Inc 695 Lawrence Street Marietta GA 30065 Contractor 2892380 Aramark 315 Shorter Avenue Rome GA 30165 Food service 1481912 Shorter Partners LP 106 East 8th Avenue Rome GA 30161 Landlord 541758 FHEG Shorter College Bookstore 3146 Solutions Center Chicago IL 60677 Bookstore 506474 National Management Resources Corp PO Box 1224 La Grange GA 30241 Janitorial service 481724 18 2216551 259396 3234377 1762101 5710324 Tuition and fees 611710 36560008 36560008 Student support 611710 5946302 5946302 Academic support 611710 227543 227543 42733853 680089 680089 775 775 0 0 12504725 8000 11929770 11940 574955 -3940 571015 571015 Insurance proceeds 900099 111867 111867 111867 49807148 42733853 0 1362971 12760228 12760228 485053 211265 232454 41334 238143 178224 57261 2658 16127951 14401302 1419384 307265 411867 365744 38292 7831 1408365 1257586 123947 26832 1236405 1093201 118069 25135 34090 34090 87029 87029 54486 54486 3555862 3211954 295168 48740 250723 240138 10585 428677 398987 26750 2940 401299 206999 194300 2916 2916 4090203 1753542 2330873 5788 1105886 1062927 26399 16560 47645 47645 414289 328388 85901 1905762 1641978 263784 495290 275845 219445 Study Abroad 446374 446374 Repairs and Maintenance 377891 56011 321354 526 Bad Debt Expense 61911 61911 2865555 629888 2187989 47678 49293900 40571142 8189471 533287 1440744 1038777 302493 73833 360526 1215211 2786294 2836381 830666 544075 65988398 24829853 35426774 41158545 14060400 14848492 1528576 1702100 1080610 1121432 8878350 6743594 66695433 71282440 2630902 3690234 3263532 2439170 12744425 14927611 2497176 2486681 21136035 23543696 X 27438858 27295526 4998838 7022889 13121702 13420329 45559398 47738744 66695433 71282440 X 513248 1368200 134925 162973 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 319669 X X X 0 13611416 181124 1790106 592920 2680 14987046 12273699 94247 1815770 572300 13611416 13154251 155833 -461085 575300 12273699 11387910 117092 2233149 583900 13154251 10221293 45453 1640164 519000 11387910 0.00360 0.79060 0.20580 1 1 1 3190293 3190293 43902050 16660433 27241617 1796124 645670 1150454 16532773 7523750 9009023 567158 567158 41158545 Funds held in trust by others 6345945 Capitalized collection items 319669 Cash Value Life Insurance 77980 6743594 Annuities payable 7793 Refundable advances from federal government 890072 Conditional asset retirement obligation 264401 Interest rate swap agreement 250655 Deferred rent 1037644 Capital lease obligations 36116 2486681 X 38539402 1368200 15020 163748 1546968 36992434 54486 12760228 12814714 49807148 36494981 15020 775 15795 36479186 54486 12760228 12814714 49293900 Part III, Line 4: Collection items consist of artwork, artifacts, and exotic stuffed animals donated to the University, which are on display in various locations on the campus. Part V, Line 4: The majority of Shorter University's endowment intends to provide scholarships to students with a small amount restricted for professorships. The footnotes to the organization's audited financial statements ended May 31, 2014, restated the prior year endowment ending balance. Schedule D, Part V, Line 1, Column (b) has been updated to reflect this restatement. Part X, Line 2: The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statement of activities. As of May 31, 2014, the University has analyzed its tax positions and believes that all more likely than not to be sustained upon examination. The Organization files information tax returns in the U.S. and various states. The Organization is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2009. Part XI, Line 2d - Other Adjustments: Rental expenses 775. Change in value of interest rate swap 87,884. Change in value of split interest agreement 75,089. Part XI, Line 4b - Other Adjustments: Student financial aid netted with revenue on financial statement 12,760,228. Part XII, Line 2d - Other Adjustments: Rental expenses 775. Part XII, Line 4b - Other Adjustments: Student financial aid netted with revenue on financial statement 12,760,228. 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 University's Statement of Non-Discrimination is included in Shorter University's catalog which is available online at http://www.shorter.edu/academics/catalog/introduction.pdf. Schedule E, Part I, Line 6 The federal government awards the University various monies restricted for student financial aid. The monies are awarded through three federal programs: Pell Grant (Pell), Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work Study (FWS). Europe (Including Iceland & Greenland) 0 0 Program services Study abroad 6052 Central America and the Caribbean 0 0 Program services Study abroad 205385 0 0 0 0 0 0 211437 0 211437 0 0 0 0 0 0 Part I, line 3: Accrual method is used to account for foreign expenditures. 1 Scholarships 2048 12760228 Part I, Line 2: Shorter Univerity participates in the student financial assistance programs through the U.S. Department of Education. Funds are awarded and applied to student accounts based on the Department of Education guidelines set forth by the Title IV programs. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 Dr Donald Dowless President 174013 0 25000 0 1548 0 17500 0 36070 0 254131 0 0 0 Dr Donald Martin Provost 127880 0 3500 0 5548 0 6700 0 15636 0 159264 0 0 0 Stephanie Owens Former VP of Finance, CFO 0 0 0 0 102210 0 5233 0 7535 0 114978 0 0 0 Part I, Line 1a Per direction from the Board of Trustees and in accordance with IRC Section 119, the President of the University resides on campus in University provided housing with a yearly rental value of $24,000. The University also pays the President's country club membership dues of $4,860 for the fiscal year ended May 31, 2014. The membership dues were treated as nontaxable. Part I, Line 4a The former VP of Finance and CFO, Stephanie Owens, received severance payments in the amount of $102,210 during the calndar year ended within the fiscal year. 2610 Tuition Assistance Tuition Assistance ADE Builders Son-in-law of Bob English, Board Trustee, is President of ADE Builders 1821063 The University has contracted with ADE Builders to build a dormatory. 0 Automax Rent A Car Inc Board Trustee, Sherold Salmon, is greater than 35% owner 174597 The University contracted with Automax Rent a Car, Inc. for shuttle rentals for campus shuttles. 0 X 2702 Donor valued X 1 7000 Donor valued X 1 5587 Stock market X 1 1740000 Appraisal X Meals 3 3105 Donor valued X Registration 2 1230 Donor valued X Travel 2 1027 Donor valued X Event materia 4 867 Donor valued X Promotional m 1 355 Donor valued X Photography p 2 228 Donor valued 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received not the number of items donated. Form 990, Part VI, Section A, line 1 The governing body delegates broad authority to an Executive Committee consisting of the Chair, the Vice Chair,and Secretary of the Board of Trustees, the Chair of the Finance and Investment Committee, and three other Board of Trustees members elected by the Board of Trustees at the annual meeting. The Executive Committee has full power and authority to act and to transact any business for and on behalf of the University and in the place of the Board of Trustees during the interim between meetings of the Board of Trustees. Form 990, Part VI, Section A, line 6 The Baptist Convention of the State of Georgia is the University's sole member. Form 990, Part VI, Section A, line 7a All Trustees shall be elected by the Member, including those elected to fill any vacancy on the Board of Trustees. Form 990, Part VI, Section A, line 7b The Member has the right to vote on any proposal of dissolution. Form 990, Part VI, Section B, line 11 The Form 990 is prepared by an independent CPA firm and is then reviewed and approved by the Board of Trustees. The President and Chief Financial Officer review the Form 990 in detail and address any comments by the Board of Trustees before the Form 990 is filed. Form 990, Part VI, Section B, line 12c The University requires employees, the Board of Trustees, and Officers to annually sign a conflict of interest statements disclosing any conflicts of interest. The administrative assistant to the President reviews the statements and gives any statements indicating a conlict to the President; the President discloses the conflict to the head of the Board; the Board or a committee determines whether an actual conflict exists. If a conflict of interest arise at a board meeting, the Board member is prohibitted from voting on or discussing any matter in which they have a conflict. Form 990, Part VI, Section B, line 15 15a) The Executive Committee approves the President's compensation annually and the deliberation and decision are documented in the committee minutes. 15b) The President reviews and approves all new hire and compensation change forms and utilizes comparability data annually for the Provost and Vice President of Finance. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, line 9: Change in value of interest rate swap 87,884. Change in value of split interest agreement 75,089. Form 990, Part XII, Line 2c: The University has a committe that assumes responsibility for oversight of the audit of its financials and selection of an independent accountant. This process has not changed since prior year. Georgia Baptist Convention 6405 Sugarloaf Parkway Duluth GA 30097 580566245 Church GA 501(c)(3) 170(b)(1) (A)(i) N/A 0 Georgia Baptist Foundation Inc 6405 Sugarloaf Parkway Duluth GA 30097 586030046 Trust agency for endowments GA 501(c)(3) 170(b)(1) (A)(vi) Georgia Baptist Convention 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0