2015-12-21T12:10:28-06:00 2015-05-31 621199757 LBMC PC PO BOX 1869 BRENTWOOD TN 370241869 990 2014-06-01 620485733 LIPSCOMB UNIVERSITY LIPS 6159661000 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 372043951 DANNY H TAYLOR SENIOR VP FOR FINANCE & ADMIN 6159661000 2015-12-21 1 JILL HUDSON P00061190 6153774600 2015-12-21 2014 2016-03-07 17:11:31Z LIPSCOMB UNIVERSITY DANNY H TAYLOR ONE UNIVERSITY PARK DR NASHVILLE TN 37204 209236590 0 X WWW.LIPSCOMB.EDU X 1891 TN LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB ALSO SEEKS TO MAKE A POSITIVE DIFFERENCE IN THE COMMUNITY. 31 30 3166 300 0 0 12494319 12342127 143834721 149154810 -210026 4769271 911494 916741 157030508 167182949 28742276 30229344 0 0 64579419 68154338 0 0 3342771 58068245 63297151 151389940 161680833 5640568 5502116 253825075 263825877 106364705 110806191 147460370 153019686 X LIPSCOMB UNIVERSITY DELIVERS A COMPLETE EDUCATION CHARACTERIZED BY INTEGRATION OF CHRISTIAN FAITH AND PRACTICE WITH ACADEMIC EXCELLENCE. THIS COMPLETE EDUCATION, WHICH INCLUDES LIBERAL ARTS STUDIES AND PROFESSIONAL PREPARATION, DOES NOT SUGGEST A FINISHED EDUCATION. RATHER, IT REFLECTS LIPSCOMB'S COMMITMENT TO THE COMPREHENSIVE DEVELOPMENT OF EACH STUDENT - SPIRITUALLY, INTELLECTUALLY, SOCIALLY, AND PHYSICALLY - AS LIPSCOMB PREPARES ITS GRADUATES FOR A LIFE OF LEARNING, LEADING, AND SERVING. LIPSCOMB SEEKS TO BE ENGAGED IN THE COMMUNITY AND TO BE A GOOD NEIGHBOR AS IT CONTINUES TO GROW. 0 0 85662779 30229344 130513028 INSTRUCTIONAL EXPENSES:CLASSROOM AND ONLINE AND GLOBAL INSTRUCTION IN A COLLABORATIVE CHRISTIAN LIBERAL ARTS LEARNING ENVIRONMENT FROM PRE-KINDERGARTEN THROUGH THE DOCTORAL LEVEL. 20425133 STUDENT SERVICES:ENGAGING STUDENT LIFE IN A DYNAMIC AND DIVERSE COMMUNITY THAT GIVES STUDENTS THE OPPORTUNITY TO BE REAL WITH THEMSELVES AND EACH OTHER WHILE PROVIDING OPPORTUNITIES FOR SPIRITUAL FAITH DEVELOPMENT THROUGH SERVICE AND LEARNING. 13202194 18641782 AUXILIARY ENTERPRISES:PROVIDES STUDENTS WITH THE ENGAGING ON-CAMPUS LIPSCOMB EXPERIENCE. STUDENTS WHO LIVE ON CAMPUS TYPICALLY EXPERIENCE A STRONG SENSE OF POSITIVE COMMUNITY. 13443521 ACADEMIC SUPPORT:INCLUDES ACADEMIC COUNSELING & TESTING SERVICES, ACADEMIC PROGRAM DEVELOPMENT, UNIVERSITY DEANS, INSTRUCTIONAL TECHNOLOGY, LIBRARY SERVICES, AND OTHER AREAS DESIGNED TO ENHANCE A STUDENT'S LEARNING EXPERIENCE AND THE OVERALL QUALITY OF A STUDENT'S EDUCATION. 1901342 PUBLIC SERVICES:INCLUDES COMMUNITY OUTREACH ACTIVITIES, SPIRITUAL FORMATION ACTIVITIES, AND SUSTAINABILITY WHERE LIPSCOMB CAN POSITIVELY IMPACT COMMUNITIES AND THE ENVIRONMENT. RESEARCH:INCLUDES POTENTIAL DISCOVERIES OF NEW OUTCOMES WITH A GOAL OF ADVANCING PROGRESS BOTH INSTITUTIONALLY AND GLOBALLY. 15344863 134634969 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 489 0 1 3166 1 0 0 0 0 0 1 1 0 0 0 0 X 31 30 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X DANNY H TAYLOR SVP FOR FINANCE & ADMINISTRATION 6159667650 ONE UNIVERSITY PARK DRIVE NASHVILLE TN 37204 J ADDISON BARRY BOARD MEMBER 1.00 X 0 0 0 ROBERT A BRACKETT BOARD MEMBER 1.00 X 0 0 0 GENERAL JOHN A BRADLEY BOARD MEMBER 1.00 X 0 0 0 LORI SUTTON BRIDGES BOARD MEMBER 1.00 X 0 0 0 JERRY COVER BOARD MEMBER 1.00 X 0 0 0 RICHARD G COWART BOARD MEMBER 1.00 X 0 0 0 ROBBIE B DAVIS BOARD MEMBER 1.00 X 0 0 0 SALLIE DEAN BOARD MEMBER 1.00 X 0 0 0 STANLEY M EZELL JR BOARD MEMBER 1.00 X 0 0 0 JAMES GRIFFITH BOARD MEMBER 1.00 X 0 0 0 PETE T GUNN III BOARD MEMBER 1.00 X 0 0 0 J GREGORY HARDEMAN BOARD MEMBER 1.00 X 0 0 0 BART HARPER BOARD MEMBER 1.00 X 0 0 0 WILLIAM R HUSTON BOARD MEMBER 1.00 X 0 0 0 MARTY R KITTRELL BOARD MEMBER 1.00 X 0 0 0 JOHN LITTLE BOARD MEMBER 1.00 X 0 0 0 BILLY LONG BOARD MEMBER 1.00 X 0 0 0 JW PITTS JR BOARD MEMBER 1.00 X 0 0 0 KENNETH SHUMARD BOARD MEMBER 1.00 X 0 0 0 CICELY SIMPSON BOARD MEMBER 1.00 X 0 0 0 DOUGLAS SMITH BOARD MEMBER 1.00 X 0 0 0 NEIKA B STEPHENS BOARD MEMBER 1.00 X 0 0 0 TIM S THOMAS BOARD MEMBER 1.00 X 0 0 0 WILLIAM THOMAS BOARD MEMBER 1.00 X 0 0 0 ROBERT E WOOD BOARD MEMBER 1.00 X 0 0 0 MARK H YOKLEY BOARD MEMBER 1.00 X 0 0 0 JAMES C ALLEN TREASURER 1.00 X 0 0 0 DAVID W SCOBEY JR CHAIR 1.00 X 0 0 0 HARRIETTE H SHIVERS SECRETARY 1.00 X 0 0 0 DAVID L SOLOMON VICE CHAIR 1.00 X 0 0 0 RANDY R LOWRY III PRESIDENT 40.00 X 362942 0 116068 W CRAIG BLEDSOE PROVOST 40.00 X 183822 0 12964 WALT C LEAVER III VICE PRESIDENT 40.00 X 110425 0 19860 DANNY H TAYLOR SR VP FOR FINANCE & ADMIN/CFO 40.00 X 202399 0 24907 PHILIP N HUTCHESON ASSISTANT VICE PRESIDENT 40.00 X 161917 0 26970 GREG J GLENN HEAD OF SCHOOL 40.00 X 78543 0 19587 SCOTT A MCDOWELL SENIOR VP FOR STUDENT LIFE 40.00 X 143219 0 26020 DEBY K SAMUELS VP OF COMMUNICATIONS & MARKETING 40.00 X 140449 0 17524 SUSAN C GALBREATH VICE PROVOST & PROFESSOR 40.00 X 116484 0 23858 MICHAEL C GREEN VICE PRESIDENT & CIO 40.00 X 139561 0 21883 RICHARD T HOLAWAY VP OF ENROLLMENT MANAGEMENT 40.00 X 128717 0 20102 JOHN R LOWRY VP COMMUNITY & GOVERNMENT RELATIONS 40.00 X 159555 0 26203 WILLIAM S SAGER VP OF CHURCH SERVICES 40.00 X 39698 0 91795 CANDICE D MCQUEEN SENIOR VICE PRESIDENT 40.00 X 262790 0 30175 ROGER L DAVIS DEAN OF COLLEGE OF PHARMACY 40.00 X 239183 0 22733 CASEY B ALEXANDER COACH 40.00 X 209456 0 31783 THOMAS M CAMPBELL ASSOCIATE DEAN OF PHARMACY 40.00 X 196734 0 29963 DAVID G WILSON UNIVERSITY ATTORNEY 40.00 X 100815 0 14491 JIMMY L THOMAS PROFESSOR 40.00 X 109246 0 7984 SCOTT H SANDERSON COACH 0.00 X 247093 0 0 3333048 0 584870 114 1 1 0 SODEXO INC AND AFFILIATES 2001 MILLENNIUM PLACE JOHNSON CITY TN 37604 FOOD SERVICES 5354600 FIDELITY 2035 MALLORY LANE FRANKLIN TN 37067 INVESTMENT SERVICES 2334756 FLOW CONSTRUCTION CO INC 3628 TROUSDALE DR E NASHVILLE TN 37204 CONSTRUCTION SERVICES 2143177 SOLOMON BUILDERS 4539 TROUSDALE DR NASHVILLE TN 37204 CONSTRUCTION SERVICES 1935092 AMERICAN CONSTRUCTORS INC 2900 VANDERBILT PL 200 NASHVILLE TN 37212 CONSTRUCTION SERVICES 1266802 24 61273 1362552 10918302 1292770 12342127 TUITION AND FEES 611710 126381973 126381973 AUXILIARY REVENUE 611710 18641782 18641782 MISCELLANEOUS INCOME 611710 4018668 4018668 INCREASE - LIFE INSURA 524298 112387 112387 149154810 1089208 1089208 1489097 564961 924136 924136 924136 45031146 41229923 121160 3801223 -121160 3680063 3680063 130202 61273 137597 -7395 -7395 167182949 149154810 0 5686012 65182 65182 30164162 30164162 2920581 2920581 54242245 47917491 4336388 1988366 1980426 1792201 113272 74953 5161293 4333513 487073 340707 3849793 3260204 442352 147237 61145 24197 36948 94700 94700 184505 184505 7497332 6978337 404543 114452 1096886 1088864 8022 5514058 3941965 1180413 391680 2152349 962808 1112661 76880 2678143 2458703 219440 7980568 6868544 965332 146692 740768 603576 125570 11622 3437150 3437150 7452858 5791096 1661762 5190484 4057144 1133340 PLANT OPERATIONS 11437727 11095019 342708 SPECIAL PROJECTS 2270145 1481896 626294 161955 GENERAL EXPENSES 2017057 357904 1659153 MISCELLANEOUS 1160806 1118695 42111 2330470 1362332 1087933 -119795 161680833 134634969 23703093 3342771 7670392 7620322 18204359 18245649 4618279 4269899 2178436 1750195 248116149 102684858 139715474 145431291 10278718 7429173 69125325 77140969 2034092 1938379 253825075 263825877 25691042 29215349 1430822 1376480 66928535 63646090 1489114 2241950 3404039 10825192 10922283 106364705 110806191 X 67631620 69192542 34894730 36855888 44934020 46971256 147460370 153019686 253825075 263825877 5502116 57200 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 68330588 2518125 4031315 1937052 1500000 71442976 62274543 3445347 5825495 1714797 1500000 68330588 55828784 2478607 7431475 1689323 1775000 62274543 60089971 1900832 -2120132 1991887 2050000 55828784 51975962 2401561 10224945 1977336 2535161 60089971 0.20210 0.64960 0.14830 0 0 14277449 192622542 87223313 119676678 34145023 15461545 18683478 7071135 7071135 145431291 INVESTMENTS - SHORT TERM/MUTUAL FUNDS 48297333 F INVESTMENTS - LIMITED PARTNERSHIP INTERESTS 28843636 F 77140969 OTHER LIABILITIES 7637089 CURRENT PORTION OF TAX EXEMPT BONDS PAYABLE 3285194 10922283 X 136017964 57200 823344 880544 135137420 184505 31861024 32045529 167182949 130458648 823349 823349 129635299 184505 31861029 32045534 161680833 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO PROVIDE FUNDS FOR PROFESSORSHIPS, CHAIRS AND SCHOLARSHIPS FOR STUDENTS AND GENERAL SUPPORT FOR OPERATIONS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE 501(C)(3) AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. AS OF MAY 31, 2015, THE UNIVERSITY HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE UNIVERSITY'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE UNIVERSITY FILES U.S. FEDERAL INFORMATION TAX RETURNS AND IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERAL REVENUE SERVICE FOR THE YEARS ENDED AFTER MAY 31, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 137,597. RENTAL EXP. NETTED W/ 990 REVENUE 564,961. LOSS ON DISPOSAL OF FIXED ASSETS NETTED WITH EXPENSE ON F/S 121,160. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANOUS REVENUE ON F/S -369. ROUNDING -5. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 30,164,162. F/S INVESTMENT RECLASS 1,696,862. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP INCLUDE IN EXP ON F/S AND RECLASSED TO INCOME FOR TAX RETURN 137,597. RENTAL EXP. NETTED W/ 990 REVENUE 564,961. LOSS ON DISPOSAL OF FIXED ASSETS NETTED WITH EXPENSE ON F/S 121,160. FUNDRAISING EXPENSE ACCOUNTS NETTED WITH MISCELLANOUS REVENUE ON F/S -369. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON F/S 30,164,162. F/S INVESTMENT RECLASS 1,696,862. ROUNDING 5. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 LIPSCOMB UNIVERSITY PUBLISHES ITS "NOTICE OF NONDISCRIMINATORY POLICY" IN BROCHURES, STUDENT HANDBOOKS, CATALOGS, ON THEIR WEBSITE AS WELL AS THEIR JOB POSTING ADS. SCHEDULE E, PART I, LINE 6 GOVERNMENT GRANTS TOTALED $1,362,552 FOR PERIOD ENDING MAY 31, 2015. EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES WAGES PAID TO EMPLOYEE INVOLVED IN GLOBAL INSTRUCTION 51622 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES GLOBAL INSTRUCTION 648373 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENTS HAVE THE OPPORTUNITY TO BE INVOLVED IN MISSION SERVICES IN FOREIGN COUTNTRIES. 7734 SOUTH AMERICA 0 0 MISSIONS STUDENTS HAVE THE OPPORTUNITY TO BE INVOLVED IN MISSION SERVICES IN FOREIGN COUTNTRIES. 2563 SOUTH AMERICA 0 0 PORGRAM SERVICES GLOBAL INSTUCTION 207035 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENTS HAVE THE OPPORTUNITY TO BE INVOLVED IN MISSION SERVICES IN FOREIGN COUTNTRIES. 4172 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENTS HAVE THE OPPORTUNITY TO BE INVOLVED IN MISSION SERVICES IN FOREIGN COUTNTRIES. 4300 0 1 0 0 0 1 925799 0 925799 0 0 0 0 0 0 ACADEMY ART EVENT 191475 61273 130202 137597 0 191475 61273 130202 137597 137597 -7395 1 NASHVILLE PUBLIC EDUCATION FOUNDATION 1207 18TH AVENUE SOUTH SUITE 202 NASHVILLE TN 37212 481266314 501C(3) 5000 FMV COMMUNITY SUPPORT AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVENUE DALLAS TX 75231 135613797 501C(3) 5000 FMV COMMUNITY SUPPORT NATIONAL CHRISTIAN SCHOOL ASSOCIATION PO BOX 11000 OKLAHOMA CITY OK 73136 760164348 501C(3) 5000 FMV COMMUNITY SUPPORT 3 SCHOLARSHIPS 2785 30164162 0 FMV NONE PART I, LINE 2: LIPSCOMB UNIVERSITY HAS AN ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS AND AN ANNUAL AUDIT OF ITS FINANCIAL AID AWARDING PROCESS (CALLED THE OMB CIRCULAR A-133 AUDIT). IN ADDITION, FINANCIAL AID COUNSELORS ATTEND CONFERENCES AND TRAINING SESSIONS ON FINANCIAL AID AWARDING POLICIES, PROCEDURES, AND CONTROLS. X X X X X X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 RANDY R LOWRY III PRESIDENT 340476 0 0 0 22466 0 17150 0 98918 0 479010 0 0 0 W CRAIG BLEDSOE PROVOST 162326 0 0 0 21496 0 12568 0 396 0 196786 0 0 0 DANNY H TAYLOR SR VP FOR FINANCE & ADMIN/CFO 180696 0 0 0 21703 0 13917 0 10990 0 227306 0 0 0 PHILIP N HUTCHESON ASSISTANT VICE PRESIDENT 142736 0 0 0 19181 0 10662 0 16308 0 188887 0 0 0 SCOTT A MCDOWELL SENIOR VP FOR STUDENT LIFE 128446 0 0 0 14773 0 10076 0 15944 0 169239 0 0 0 DEBY K SAMUELS VP OF COMMUNICATIONS & MARKETING 114060 0 0 0 26389 0 9205 0 8319 0 157973 0 0 0 MICHAEL C GREEN VICE PRESIDENT & CIO 124013 0 0 0 15548 0 9123 0 12760 0 161444 0 0 0 JOHN R LOWRY VP COMMUNITY & GOVERNMENT RELATIONS 147169 0 0 0 12386 0 9475 0 16728 0 185758 0 0 0 CANDICE D MCQUEEN SENIOR VICE PRESIDENT 250519 0 0 0 12271 0 12271 0 17904 0 292965 0 0 0 ROGER L DAVIS DEAN OF COLLEGE OF PHARMACY 214369 0 0 0 24814 0 15956 0 6777 0 261916 0 0 0 CASEY B ALEXANDER COACH 191772 0 0 0 17684 0 14408 0 17375 0 241239 0 0 0 THOMAS M CAMPBELL ASSOCIATE DEAN OF PHARMACY 181462 0 0 0 15272 0 14162 0 15801 0 226697 0 0 0 SCOTT H SANDERSON COACH 241090 0 0 0 6003 0 0 0 0 0 247093 0 0 0 PART I, LINE 4A SCOTT H. SANDERSON REPORTABLE COMPENSATION $247,093 A SUNTRUST BANK 580466330 2012-09-05 71000000 REFUND SERIES 2009 AND 2011 BONDS 0 0 0 B SUNTRUST BANK 580466330 2013-11-26 5050000 SERIES 2013 REVENUE BONDS 0 0 0 A 71000000 51216 1 0 1 1 B 5050000 50000 0 0 1 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 0 0 0 0 1 1 SUNTRUST ROBINSON HUMPHREY 15.000000000000 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 RHONDA LOWRY PRESIDENT'S SPOUSE 60400 UNIVERSITY EMPLOYEE 0 JOHN LOWRY PRESIDENT'S SON 180125 UNIVERSITY EMPLOYEE 0 MELISSA LOWRY PRESIDENT'S DAUGHTER-IN-LAW 26363 UNIVERSITY EMPLOYEE 0 DAVID SOLOMON BOARD MEMBER 15500 RENTAL REAL PROPERTYRENTAL REAL PROPERTY 0 HARRIETTE SHIVERS BOARD MEMBER 37805 RENTAL REAL PROPERTY 0 X 17 1292770 FMV AT DATE OF SALE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 UNIVERSITY PRESIDENT RANDY LOWRY IS THE FATHER OF JOHN LOWRY VICE PRESIDENT FOR COMMUNITY & GOVERNMENT RELATIONS. FORM 990, PART VI, SECTION B, LINE 11 BOARD DELEGATES THIS RESPONSIBILITY TO THE AUDIT COMMITTEE OF THE BOARD. ONCE THE AUDIT COMMITTEE HAS APPROVED FORM 990, IT IS POSTED ON THE LIPSCOMB TRUSTEE WEBSITE PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C RELATED PARTY CONFIRMATIONS ARE REVIEWED AND FOLLOWED UP BY THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, AS WELL AS THE UNIVERSITY'S INDEPENDENT ACCOUNTING FIRM, LBMC, ON AN ANNUAL BASIS. ALSO, THE AUDIT COMMITTEE OF THE BOARD REVIEWS RELATED PARTY RELATIONSHIPS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD SETS THE PRESIDENT'S SALARY ANNUALLY BASED ON HIS CONTRACT. HIS INITIAL COMPENSATION WAS ESTABLISHED BASED ON A REVIEW OF MARKET DATA AND THE NEGOTIATION PROCESS. THIS SAME PROCESS OCCURS WITH OTHER OFFICERS AND KEY EMPLOYEES. SALARY POOL INCREASES ARE ALSO A COMPENENT OF ANNUAL COMPENSATION BASED ON APPROVED BUDGET FUNDING. FORM 990, PART VI, SECTION C, LINE 18 THE UNIVERSITY MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE PRIOR YEAR. RESTATEMENT OF NET ASSETS AND CHANGE IN ACCOUNTING POLICY: NET ASSETS AS OF JUNE 1, 2013 WERE RESTATED TO RECORD CERTAIN PLEDGE CONTRIBUTIONS RECEIVABLE TOTALING APPROXIMATELY $18,204,359, NET OF APPLICABLE DISCOUNTS AND ALLOWANCES FOR DOUBTFUL PLEDGES. MANAGEMENT ORIGINALLY CONSIDERED THE PLEDGES AS INTENTIONS TO GIVE WHICH HAVE HISTORICALLY BEEN RECORDED AS CONTRIBUITIONS WHEN THE CASH WAS RECEIVED. ALSO, DURING 2015, THE UNIVERSITY CHANGED ITS POLICY FOR RELEASING NET ASSETS DESIGNATED FOR CAPITAL IMPROVEMENTS FROM TEMPORARILY RESTRICTED NET ASSETS. AS A RESULT OF THE CHANGE, THE UNIVERSITY RECLASSIFIED APPROXIMATELY $31,000,000 FROM TEMPROARILY RESTRICTED NET ASSETS TO UNRESTRICTED NET ASSETS.