2015-05-06T06:59:22-05:00 2014-06-30 BDO USA LLP 7101 WISCONSIN AVE SUITE 800 BETHESDA MD 208144827 990 2013-07-01 560529988 WILLIAM PEACE UNIVERSITY % GEORGE A YEARWOOD WILL 9195082035 15 EAST PEACE STREET Suite RALEIGH NC 27604 GEORGE A YEARWOOD VP FOR FINANCE & CFO 9195082035 2015-05-05 true Mike Sorrells P00001737 9195082035 2013 2016-02-25 16:41:14Z DEBRA M TOWNSLEY 15 EAST PEACE STREET RALEIGH NC 27604 29879883 false X WWW.PEACE.EDU X 1857 NC SEE SCHEDULE O 14 14 492 150 176161 -184266 2352360 2698917 19571253 25779500 334753 395195 1757243 1006271 24015609 29879883 6984567 10004270 0 0 8831354 9160605 0 0 331622 9888992 13189113 25704913 32353988 -1689304 -2474105 74513481 72852552 17070382 18173394 57443099 54679158 X WILLIAM PEACE UNIVERSITY IS A PRIVATE FOUR-YEAR UNIVERSITY LOCATED IN DOWNTOWN RALEIGH, NORTH CAROLINA. THE MISSION OF THE UNIVERSITY IS TO PREPARE STUDENTS FOR CAREERS IN THE ORGANIZATIONS OF TOMORROW. ROOTED IN THE LIBERAL ARTS TRADITION, THE STUDENT DEVELOPS AN APPRECIATION FOR LIFE-L0NG LEARNING, A FOCUS ON MEANINGFUL CAREERS, AND SKILLS FOR ETHICAL CITIZENSHIP. ON AVERAGE, OVER 90 PERCENT OF OUR GRADUATES GO ONTO JOBS OR CAREERS WITHIN A YEAR OF GRADUATION. FOR MORE INFORMATION, PLEASE VISIT WWW.PEACE.EDU. false false 16831479 10004270 20723212 INSTRUCTION & ACADEMIC SUPPORT: THE 17 ACADEMIC MAJORS AND OVER 20 MINORS AND CONCENTRATIONS AT WPU REPRESENT AREAS THAT CONNECT TO GROWING PROFESSIONAL FIELDS AND DEMANDS. THEY INCORPORATE PRE-PROFESSIONAL AND LIBERAL ARTS COMPONENTS. THEY INCLUDE FLEXIBLE PAIRINGS AND SPECIALIZED CONCENTRATIONS WITHIN EACH MAJOR. ON AVERAGE MORE THAN 90 PERCENT OF OUR GRADUATES BEGIN CAREERS OR PURSUE HIGHER EDUCATION WITHIN A YEAR OF GRADUATION. OUR NEW CORE CURRICULUM INCLUDES A FOCUS ON ETHICAL DECISION MAKING AND EMPHASIZES BASIC KNOWLEDGE NEEDED BEYOND GRADUATION. MANDATORY COURSES INCLUDE PERSONAL FINANCIAL MANAGEMENT, MEDIA LITERACY, AND FOUR YEARS OF WRITING COURSES WITHIN THE ENGLISH DEPARTMENT. A SERIES OF THREE CLASSES FOCUSING ON CAREER AND PROFESSIONAL DEVELOPMENT IS A REQUIREMENT. THROUGH THE PROFESSIONAL DEVELOPMENT SEMINAR, STUDENTS LEARN HOW TO CONSTRUCT A RESUME, BUILD A PORTFOLIO, INTERVIEW FOR A JOB OR APPLY FOR GRADUATE SCHOOL. ACADEMIC INTERNSHIPS ARE REQUIRED, WITH THE GOAL OF COMBINING EDUCATIONAL THEORY WITH JOB EXPERIENCE. 60% OF GRADUATES REPORT THEIR UNIVERSITY INTERNSHIP EXPERIENCE RESULTS IN JOB OFFERS. U.S. NEWS & WORLD REPORT CITED WILLIAM PEACE UNIVERSITY AS ONE OF EIGHT UNIVERSITIES WHOSE ENTIRE GRADUATING CLASS GAINED INTERNSHIP EXPERIENCE. THROUGHOUT THE DURATION OF A STUDENT'S TENURE AT WPU, THEY WILL HAVE A SKILLED ADVISOR WHO WILL HELP EXPLORE CAREERS, ASSIST WITH DECISION-MAKING, AND PROVIDE PERSONAL ATTENTION TO ALL AREAS OF COLLEGE LIFE, BOTH ACADEMIC AND SOCIAL. 3455004 STUDENT SERVICES & ACTIVITIES: With over 30 student clubs and organizations, there are plenty of opportunities for a student to get involved at WPU. Community service is encouraged, and our students embrace the concept of giving back by reaching out. William Peace University students volunteer thousands of hours annually to the greater Raleigh community. From one-shot opportunities like working in a soup kitchen or helping clean up a local park to longer-term projects with regular hours, WPU can help you find the right way for you to serve your community. Feeling a little competitive? Whether you're just trying to break a sweat or trying to keep your hoop dreams alive, William Peace University offers intramural sports leagues for all interest levels. We have one-day tournaments and multi-week seasons in individual and team sports. We utilize IMLeagues, a specialized sports site for intramural sports that keeps track of your team and individual statistics. Our students use this site to sign up for tournaments, join teams and watch the brackets! Student Services also includes our health and counseling services. Health Services can provide routine treatment for minor illnesses and injuries, while maintaining confidential medical information for students. It also promotes awareness for health and wellness issues through campus events and activities. The Counseling Center provides short-term, professional counseling to students coping with the challenges of college life. Students may need support dealing with everyday problems such as stress management or relationship issues, as well as more serious problems such as depression or anxiety. William Peace University also offers students the chance to play and enjoy intercollegiate sports. WPU is a member of the U.S.A. South athletic conference of the NCAA Division III and fields teams in seven different sports including baseball, men's and women's basketball, men's and women's cross country, men's golf, mens and women's soccer, softball, mens and womens tennis and womens volleyball. 5281322 4880127 AUXILIARY ENTERPRISES: From your typical residence hall to suites, there are 6 residence halls on campus at William Peace University. First-year housing favorites include Ross and Davidson Halls, each with its particular style and history. Resident Assistants live on each floor, ready to answer questions, foster group discussions, organize activities and more. There is wired and wireless internet available, free basic cable and no-cost laundry. Additionally, WPU provides the option of University-affiliated student housing to all sophomore, junior and senior students. These off-campus apartments provide an excellent student housing community in Raleigh, with four-bedroom options to fit all lifestyles. Operating in the same manner as on-campus housing, Wolf Creek Apartments have William Peace University resident staff living on-site. Additionally, the apartments host student activities and have a shuttle running to and from campus. These apartments include private bedrooms, luxury kitchens, furnished living rooms, tennis courts and 24-hour fitness center, pool and recreation and a computer lab. The newly renovated Belk Dining Hall offers tasty, nutritional food options, including a salad bar, deli, cooked-to-order expo station and a variety of daily cooked meals. Peace Perk, the on-campus coffee shop, also offers Starbucks coffee, sandwiches, snacks and a place to hang out. At the WPU Bookstore, you can find everything Peace related. From apparel to coffee mugs to small gifts for your puppy, its all there! Additionally, at Peace, you have options for your textbooks: buy new or used textbooks, rent your text book or go digital. 25567805 true true false false false false false false false true true false false true true true false true true false false false false false false false false false true true false false false false false false false false true false false false true true true true false false true 52 0 true 492 true true true true CJ false false false false false false false false X 14 14 false false false false false false false true true false false true true true true true true true true false NC X GEORGE A YEARWOOD 9195082035 15 EAST PEACE STREET RALEIGH NC 27604 X Mary Davis Betts Board Secretary 5.0 X X 0 0 0 Rae Marie H Czuhai Board Member 2.0 X 0 0 0 Gerald Jeb Jeutter Board Member 2.0 X 0 0 0 J Frederick Kelly Jr Board Vice Chair 5.0 X X 0 0 0 Lee Rast Board Member 2.0 X 0 0 0 Charles Terry Reeves Board Member 2.0 X 0 0 0 AB Swindell IV Board Member 2.0 X 0 0 0 Scott Custer Board Treasurer 5.0 X X 0 0 0 Rick Martinez Board Member 2.0 X 0 0 0 Edward McLeod Jr Board Member 2.0 X 0 0 0 Todd Robinson Board Member 2.0 X 0 0 0 Beth Cherry Board Chair 5.0 X X 0 0 0 Mary Kathryn Adcock Board Member 2.0 X 0 0 0 Willard Ross Board Member 2.0 X 0 0 0 Debra M Townsley President 50.0 2.0 X 442005 0 14955 George A Yearwood VP for Finance & CFO 50.0 2.0 X 146602 0 12063 Ann T Denlinger VP for Academic Affairs 40.0 X 145956 0 2428 Frank P Rizzo VP for Student Services 40.0 X 123238 0 6525 Justin G Roy VP OF Social Media & Marketing 40.0 X 122942 0 10627 Laura McCullough VP for Strategic Initiatives 40.0 X 120361 0 5427 Julie Ricciardi VP for Engagement 40.0 X 108190 0 9760 1209294 0 61785 7 false true false WOODLARK WOLF CREEK 403 WOLF CREEK CIRCLE RALEIGH NC 27606 STUDENT HOUSING RENT 592721 THE BUDD GROUP PO BOX 89056 CHARLOTTE NC 282890856 HOUSEKEEPING 252455 PARKER POE ADAMS BERNSTEIN LLP 3 WELLS FARGO CENTER STE 3000 CHARLOTTE NC 282021942 LEGAL SERVICES 446970 SMITH SINNETT ARCHITECTURE 4600 LAKE BOONE TRAIL RALEIGH NC 27607 ARCHITECTURE SERVICE 113379 ARTHUR GALLAGHER RISK MANAGEMENT PO BOX 532143 ATLANTA GA 30353 INSURANCE 110630 5 246658 96061 2356198 1069749 2698917 TUITION AND FEES 900099 20723212 20723212 AUXILIARY ENTERPRISES 900099 4880127 4880127 VISITOR SERVICES 531120 176161 176161 25779500 395195 395195 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 940671 940671 CAP. GAINS FROM INVESTMENT POOL, LLC 900099 65600 65600 1006271 29879883 26544010 176161 460795 0 10004270 10004270 0 0 1340974 608919 582169 149886 0 6662207 5123659 1472913 65635 104923 79218 23873 1832 545468 330354 206847 8267 507033 398581 101066 7386 0 535292 535292 79032 79032 0 0 546562 101703 444859 2957348 2656372 300976 614820 152397 448306 14117 368089 125870 230931 11288 0 0 1770671 1542244 228427 241832 223915 15864 2053 0 0 1098195 958724 139471 0 1571454 1371879 199575 309910 39411 270499 OPERATION/MAINTENANCE 1081789 945507 136282 PROGRAM SUPPORT 1889307 856096 967967 65244 TRAINING/DEVELOPMENT 124812 48686 70212 5914 32353988 25567805 6454561 331622 4363996 2743358 654368 732212 550881 441285 1141235 1143622 0 0 0 0 0 0 0 0 0 0 52077012 13397963 32166736 38679049 28089052 17528959 376861 262956 0 0 0 0 7170352 11321111 74513481 72852552 1701557 1870066 0 0 0 1201445 0 0 0 0 0 0 0 0 15185000 14679852 183825 422031 17070382 18173394 X 21222011 19282583 10034928 8863239 26186160 26533336 57443099 54679158 74513481 72852552 X -2474105 347199 -637035 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32841094 18624 728618 607458 557867 601546 31821465 33690208 349973 408523 586643 446266 574701 32841094 36742633 61994 -1500433 720734 312541 580711 33690208 31863848 369904 5721237 671267 541089 36742633 32158819 174302 2649515 1044936 33937700 0.00010 0.83380 0.16610 true true true 7286329 7286329 39632102 10260819 29371283 5158581 3137144 2021437 38679049 CONTRIBUTIONS RECEIVABLE 2454824 BENEFICIAL INTEREST 4780366 OTHER 510734 DUE FROM PEACE RALEIGH OF COLL 3524834 FMV OF INTEREST RATE SWAP 50353 11321111 0 ANNUITIES PAYABLE 66411 LEASES PAYABLE 108962 DUE TO RELATED ORGANIZATION 246658 422031 X SCHEDULE D, PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT PORTFOLIO CONSISTS OF APPROXIMATELY 250 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY U.S. GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE DONOR-IMPOSED RESTRICTIONS. SCHEDULE D, PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. WITH RESPECT TO ANY UNRELATED BUSINESS INCOME GENERATED BY THE UNIVERSITY, IT RECORDS INCOME TAXES USING THE LIABILITY METHOD UNDER WHICH DEFERRED TAX ASSETS AND LIABILITIES ARE DETERMINED BASED ON THE DIFFERENCES BETWEEN THE FINANCIAL ACCOUNTING AND TAX BASES OF THE ASSETS AND LIABILITIES. DEFERRED TAX ASSETS OR LIABILITIES AT THE END OF EACH PERIOD ARE DETERMINED USING THE CURRENTLY ENACTED TAX RATE EXPECTED TO APPLY TO TAXABLE INCOME IN THE PERIOD THAT THE DEFERRED TAX ASSET OR LIABILITY IS EXPECTED TO BE REALIZED OR TO BE SETTLED. AS OF JUNE 30, 2014 AND 2013, THE UNIVERSITY HAD NO DEFERRED TAX ASSETS OR LIABILITIES OR ANY UNCERTAIN TAX POSITIONS. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3: PUBLICIZED ANNUALLY THROUGH THE NEWSPAPER (RAN IN THE NEWS AND OBSERVER ON 8/15/13). IT IS ALSO INCLUDED IN ALL PRINT ADVERTISEMENTS AND LISTED ON THE WEBSITE. SCHEDULE E, PART I, LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: WILLIAM PEACE UNIVERSITY RECEIVES FUNDS FROM GOVERNMENTAL AGENCIES TO BE USED AS FINANCIAL AID TO STUDENTS AND FROM SPECIAL GRANTS AWARDED FOR SPECIAL PROGRAMS. ALL PROGRAMS AND FINANCIAL AID AWARDS ARE ADMINISTERED ON A NON-DISCRIMINATORY BASIS. true FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT 446 44904 INSTITUTIONAL GRANTS 818 9951580 NORTH CAROLINA TUITION ASSISTANCE PROGRAM 1 7786 SCHEDULE I, PART I, LINE 2: ALL GRANTS ARE SCHOLARSHIPS MADE TO STUDENTS AT THE UNIVERSITY. STUDENTS MUST MAINTAIN ENROLLMENT AND CERTAIN REQUIREMENTS TO MAINTAIN THEIR SCHOLARSHIPS. STUDENTS MUST SUBMIT FINANCIAL INFORMATION TO ESTABLISH QUALIFICATIONS FOR NEEDS BASED SCHOLARSHIPS. X true true X X X false false false false false false false false false Debra M Townsley President 298005 0 60000 0 84000 0 7500 0 7455 0 456960 0 0 0 George A Yearwood VP for Finance & CFO 146602 0 0 0 0 0 4800 0 7263 0 158665 0 0 0 SCHEDULE J, PART I, LINE 1A: AS PROVIDED FOR IN HER CONTRACT, THE PRESIDENT RECEIVES A HOUSING ALLOWANCE IN LIEU OF A RESIDENCE OWNED BY THE UNIVERSITY. X 4 69749 AVG VALUE ON DAY REC X 1 1000000 COST OF IMPROVEMENTS false true false FORM 990, PART I, LINE 1 - DESCRIPTION OF ORGANIZATION MISSION: THE WILLIAM PEACE UNIVERSITY MISSION IS TO PREPARE STUDENTS FOR CAREERS IN THE ORGANIZATIONS OF TOMORROW. ROOTED IN THE LIBERAL ARTS TRADITION, THE STUDENT DEVELOPS AN APPRECIATION FOR LIFE-LONG LEARNING, A FOCUS ON MEANINGFUL CAREERS, AND SKILLS FOR ETHICAL CITIZENSHIP. FORM 990, PART VI, SECTION B, LINE 11B: THE IRS FORM 990 IS REQUIRED TO BE REVIEWED BY THE UNIVERSITY BOARD OF TRUSTEES EACH YEAR BEFORE BEING FILED. A DRAFT VERSION OF THE FORM 990 IS REVIEWED FIRST BY THE CONTROLLER, AND THEN THE VICE PRESIDENT FOR FINANCE & ADMINISTRATION AND THE PRESIDENT, AND THEN A COPY IS SENT TO MEMBERS OF THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES OF THE UNIVERSITY. COMMITTEE MEMBERS ARE REQUESTED TO REVIEW THE FORM 990 RETURN AND SUBMIT QUESTIONS AND/OR OTHER FEEDBACK TO THE ADMINISTRATION WITHIN ONE WEEK OF RECEIPT. THE FULL BOARD REVIEWS THE FORM 990 ON A HIGH LEVEL PRIOR TO IT BEING FILED. THE VICE PRESIDENT FOR FINANCE & ADMINISTRATION IS RESPONSIBLE FOR SUBMITTING THE DRAFT VERSION OF THE FORM 990 TO THE BOARD FOR REVIEW. THE CONTROLLER COORDINATES WITH THE UNIVERSITY'S TAX PREPARERS FOR FILING AFTER THE REVIEW PERIOD. FORM 990, PART VI, SECTION B, LINE 12C: ALL BOARD MEMBERS RECEIVE A CONFLICT OF INTEREST FORM ANNUALLY WHERE THEY DISCLOSE ANY RELATIONSHIPS THEY HAVE WITH PARTIES RELATED TO THE UNIVERSITY. ALL RELATIONSHIPS NOTED ARE REVIEWED FOR APPROPRIATENESS AND FURTHER ACTION IS TAKEN IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15: THE UNIVERSITY OBTAINED THE SERVICES OF A REPUTABLE LAW FIRM TO REVIEW THE REASONABLENESS OF THE PRESIDENT'S COMPENSATION AND RENDER THEIR OPINION. THEIR WORK INCLUDED REVIEWING THE EMPLOYMENT AGREEMENT BETWEEN THE UNIVERSITY AND THE PRESIDENT, BYLAWS, MINUTES, RELATED IRS CODE SECTIONS, AND RELATED TAX CASES DEALING WITH COMPENSATION. THEY ALSO COMPARED THE SALARY TO THE CURRENT PRESIDENT'S FORMER SALARY AND TO THE FORMER PRESIDENT'S SALARY. THEY RENDERED AN OPINION THAT THE COMPENSATION IS REASONABLE DEFINED BY THE CODE, TREASURY REGULATIONS, AND RELEVANT JUDICIAL DECISIONS. FOR OTHER KEY MEMBERS OF MANAGEMENT, THE HUMAN RESOURCES OFFICE USES COMPARABILITY STUDIES TO DETERMINE REASONABLE SALARY LEVELS. THE PRESIDENT APPROVES THE SALARY BEFORE OFFERS ARE MADE. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS GENERALLY AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9 - CHANGES IN NET ASSETS: CHANGES IN INTEREST RATE SWAP AGREEMENTS 100,430 CHANGES IN SPLIT INTEREST TRUST AGREEMENTS -391,422 CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -347,282 miscellaneous adjustment 1,239 --------- TOTAL TO FORM 990, PART XI, LINE 9 -637,035 FORM 990, PART XII, LINE 2C: OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS: THERE HAS BEEN NO CHANGE IN THE PROCESS. PEACE UNIVERSITY PROPERTIES LLC 15 EAST PEACE STREET RALEIGH NC 27604 560529988 REAL ESTATE NC 50889 5857272 WPU PEACE COLLEGE OF RALEIGH FOUNDATION 15 EAST PEACE STREET RALEIGH NC 27604 560792704 SUPPORT NC 501(C)(3) LINE 11B WMU false PEACE COLLEGE AND FOUNDATION INVESTMENT 15 EAST PEACE STREET RALEIGH NC 27604 943481706 DEVELOPMENT NC INVESTMENT 168090 17761569 false false 0.80335 false false false false false false false false false false false false false false false false false true true PEACE COLLEGE AND FOUNDATION INVESTMENT POOL R 6000 CASH PEACE COLLEGE AND FOUNDATION INVESTMENT POOL S 10281030 CASH