2015-02-12T08:37:37-06:00 2014-06-30 560587513 HAIGH BYRD & LAMBERT LLP PO BOX 53349 FAYETTEVILLE NC 283053349 990 2013-07-01 560657294 THE METHODIST UNIVERSITY INC METH 9106307000 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 DAWN AUSBORN CONTROLLER 9106307610 2015-02-05 1 MARCUS A HEDGEPETH P00151295 9104831437 2013 2016-02-25 16:41:14Z DR BEN E HANCOCK JR 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 87736683 0 X WWW.METHODIST.EDU X 1956 NC UNDERGRADUATE AND GRADUATE EDUCATION 37 35 1755 0 492730 -313336 4237645 12921051 61862063 67911338 2029638 1167620 -21301 -13900 68108045 81986109 17819018 21410467 0 0 27819125 29454860 0 0 788486 19546243 20267572 65184386 71132899 2923659 10853210 98647976 110884404 43629376 43583650 55018600 67300754 X THE PURPOSE OF METHODIST UNIVERSITY IS TO PROVIDE AN UNDERGRADUATE & GRADUATE EDUCATION FIRMLY GROUNDED IN THE LIBERAL ARTS TRADITION, THAT NURTURES MORAL VALUES & ETHICAL DECISION-MAKING; TO PROVIDE DISTINCTIVE PROFESSIONAL & GRADUATE PROGRAMS THAT COMPLEMENT THE UNDERGRADUATE PROGRAMS; TO PROVIDE EDUCATIONAL & CULTURAL RESOURCES TO THE COMMUNITY; AND TO PREPARE STUDENTS FOR A VARIETY OF CAREERS & EDUCATIONAL PURSUITS. 0 0 51954400 21410467 55626408 POST SECONDARY EDUCATION: METHODIST UNIVERSITY PROVIDES BOTH UNDERGRADUATE & GRADUATE EDUCATION, FOUNDED IN LIBERAL ARTS, TO APPROXIMATELY 2500 STUDENTS. THE UNIVERSITY'S PROGRAMS ARE CONCENTRATED IN ARTS & HUMANITIES, PUBLIC AFFAIRS, SCIENCE & HUMAN DEVELOPMENT, BUSINESS, & GRADUATE STUDIES, AND BOAST NATIONALLY RENOWNED PROGRAMS SUCH AS THE PROFESSIONAL GOLF MANAGEMENT & PHYSICIAN ASSISTANT PROGRAMS. THE UNIVERSITY IS A FULLY-ACCREDITED MEMBER OF THE SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS. 11670193 12284930 AUXILIARY SERVICES: THE UNIVERSITY'S AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS, DINING FACILITIES, A BOOKSTORE, & GOLF COURSE SERVE TO TO PROVIDE A SUPPORT SYSTEM TO THE STUDENTS. 63624593 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 170 0 1 1755 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 37 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X DAWN AUSBORN 9106307610 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 DR RICHARD R ALLEN SR TRUSTEE 0.00 X 0 0 0 MR KEITH ALLISON TREASURER 0.00 X X 0 0 0 DR MARY LYNN BRYAN CHAIR 0.00 X X 0 0 0 MR A HOWARD BULLARD SECRETARY 0.00 X X 0 0 0 DR ALFRED E CLEVELAND TRUSTEE 0.00 X 0 0 0 DR LOLETA WOOD FOSTER TRUSTEE 0.00 X 0 0 0 REV DR R CARL FRAZIER JR TRUSTEE 0.00 X 0 0 0 MR PETER M BROOME TRUSTEE 0.00 X 0 0 0 MR LESLIE A GRIFFIN TRUSTEE 0.00 X 0 0 0 GENRET JOHN W HANDY TRUSTEE 0.00 X 0 0 0 MRS BETTY UPCHURCH HASTY TRUSTEE 0.00 X 0 0 0 MR J DANIEL HIGHSMITH SR TRUSTEE 0.00 X 0 0 0 MRS DOROTHY B HUBBARD TRUSTEE 0.00 X 0 0 0 MRS JANE HOOK JOHNSON TRUSTEE 0.00 X 0 0 0 MRS LINDA B HUFF TRUSTEE 0.00 X 0 0 0 MR JERRY A KEEN TRUSTEE 0.00 X 0 0 0 MR EARL D LEAKE TRUSTEE 0.00 X 0 0 0 MR O RAY MANNING JR VICE CHAIR 0.00 X X 0 0 0 DR ERIC L MANSFIELD TRUSTEE 0.00 X 0 0 0 DR ALLEN G MASK JR TRUSTEE 0.00 X 0 0 0 MR RON B MATTHEWS TRUSTEE 0.00 X 0 0 0 MR GEORGE W MILLER JR TRUSTEE 0.00 X 0 0 0 DR HW MILLER IV TRUSTEE 0.00 X 0 0 0 MR DAVID R NIMOCKS III TRUSTEE 0.00 X 0 0 0 MS MARGARET HIGHSMITH DICKSON TRUSTEE 0.00 X 0 0 0 MR DON PRICE TRUSTEE 0.00 X 0 0 0 MR JOHN HEALY TRUSTEE 0.00 X 0 0 0 DR RAKESH GUPTA TRUSTEE 0.00 X 0 0 0 LTG FRANK G HELMICK TRUSTEE 0.00 X 0 0 0 MR H TERRY HUTCHENS TRUSTEE 0.00 X 0 0 0 MR WILLIAM O MUSGRAVE TRUSTEE 0.00 X 0 0 0 MR WILLIAM R WEST SR TRUSTEE 0.00 X 0 0 0 DR JASON A WILLIAMS TRUSTEE 0.00 X 0 0 0 DR HARVEY T WRIGHT II TRUSTEE 0.00 X 0 0 0 DR WILLIAM SCHAEFER TRUSTEE 0.00 X 0 0 0 DR RAMON L YARBOROUGH TRUSTEE 0.00 X 0 0 0 MR LAWRENCE H WALSH TRUSTEE 0.00 X 0 0 0 DR BEN E HANCOCK JR PRESIDENT 40.00 X 336003 0 41881 DR GENE T CLAYTON VP BUSINESS AFFAIRS 40.00 X 147661 0 13431 MRS ROBIN DAVENPORT VP INSTITUTIONAL ADVANCEME 40.00 X 81949 0 9992 REV DR MICHAEL SAFLEY VP UNIV RELATIONS & CAMPUS 40.00 X 89054 0 10332 DR DONALD LASSITER VP PLANNING & EVALUATION 40.00 X 84694 0 10243 MR WILLIAM WALKER VP STUDENT DEVELOPMENT 40.00 X 82369 0 10055 MR RICK LOWE VP ENROLLMENT 40.00 X 94345 0 10664 DR DELMAS CRISP EXEC VP & ACADEMIC DEAN 40.00 X 141946 0 14316 NARENDRA SINGH PROFESSOR 40.00 X 100347 0 11078 TAT CHAN PROFESSOR 40.00 X 110884 0 6734 JOSEPH DOLL PROFESSOR 40.00 X 115999 0 6912 1385251 0 145638 6 0 1 0 M&E CONTRACTING INC 1032 71ST SCHOOL RD FAYETTEVILLE NC 28314 CONSTRUCTION 2648458 SODEXO INC PO BOX 536922 ATLANTA GA 303536922 FOOD SERVICE 1367985 ARAMARK EDUCATION SVCS LLC 5400 RAMSEY ST FAYETTEVILLE NC 28311 FOOD SERVICE 1266859 SASAKI ASSOCIATES INC 64 PLEASANT ST WATERTOWN MA 02472 ARCHITECTS 248864 SFLA ARCHITECTS 214 BURGESS ST FAYETTEVILLE NC 28301 ARCHITECTS 241275 6 21020 833589 12066442 1089478 12921051 TUITION AND FEES 611310 54863564 54863564 DORM REVENUES 611310 6182192 6182192 BOARD REVENUES 611310 3781094 3781094 GOLF COURSE REVENUES 713910 492730 492730 2591758 2591758 67911338 833240 833240 6061445 792 5727857 0 333588 792 334380 792 333588 8817 21020 22717 -13900 -13900 81986109 67419400 492730 1152928 21410467 21410467 1384472 734944 567579 81949 22235041 19546328 2425632 263081 1190390 1002104 163632 24654 2875009 2395797 437459 41753 1769948 1511105 227121 31722 102575 102575 57875 57875 40200 40200 814594 542630 267277 4687 352894 141427 174671 36796 738719 567643 12799 158277 340249 127403 196918 15928 4251388 4118812 126922 5654 1416164 1150722 193490 71952 92436 73240 18432 764 69939 61829 8050 60 3549186 3344983 202341 1862 1071381 451379 608548 11454 FOOD SERVICES CONTRACT 1949723 1949723 SUPPLIES 1544671 1262594 263358 18719 BOOKSTORE COST OF GOODS 1106915 1106915 EQUIPMENT RENT & REPAIR 1087890 1002317 77509 8064 1680773 1122231 547432 11110 71132899 63624593 6719820 788486 54934 271574 11470773 11336334 1458235 7140027 1725768 1528057 8166 7130 413195 383906 750484 682608 105843552 36778101 64905430 69065451 15237557 17802418 1113867 1210213 1299461 1264145 210106 192541 98647976 110884404 2858031 3026609 574556 1663943 36254579 35112640 174752 187486 1365318 1356236 2402140 2236736 43629376 43583650 X 42465375 46385464 3124817 10078802 9428407 10836488 55018600 67300754 98647976 110884404 X 10853210 1173753 999 254192 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 0 0 1 40200 40200 0 PART II-B, LINE 1: THE UNIVERSITY PAID MEMBERSHIP DUES OF $40,200 TO NORTH CAROLINA INDEPENDENT COLLEGES & UNIVERSITIES (NCICU), A STATEWIDE ORGANIZATION COMPRISED OF INDEPENDENT COLLEGES ACCREDITED BY SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS, WHICH REPRESENTS HIGHER EDUCATION IN STATE & FEDERAL POLICY. 13850 95515 X X 0 0 1 X 21768696 3667793 2418821 534266 1669275 71972 25579797 18717242 3165551 2221932 505447 1740427 90155 21768696 18968075 3728171 6279 436411 3463137 85735 18717242 14745939 4435266 2622781 484315 2287153 64443 18968075 13602521 912602 1486165 620261 564313 70775 14745939 0.49000 0.42000 0.09000 0 0 173500 2350804 2524304 76018484 22972133 53046351 24387 12172 12215 15159585 9999744 5159841 12116792 3794052 8322740 69065451 FEDERAL PORTION PERKINS LOANS DUE 392839 INTEREST RATE SWAP LIABILITY 1365548 STUDENT DORM DEPOSITS 162798 ANNUITY LIABILITY 99013 STUDENT ENROLLMENT DEPOSITS 216538 2236736 X 62043194 1173753 -21182094 -20008341 82051535 -65426 -65426 81986109 49762039 65426 65426 49696613 21436286 21436286 71132899 PART III, LINE 4: THE UNIVERSITY MAINTAINS A FEW HISTORICAL COLLECTIONS WITHIN ITS LIBRARY, INCLUDING DRAWINGS, LETTERS, MONOGRAPHS, BOOKS AND RECORDS. PART IV, LINE 2B: BANK ACCOUNTS FOR STUDENT CLUBS & OTHER AFFILIATED GROUPS PART V, LINE 4: THE INTENDED USE OF THE UNIVERSITY'S ENDOWMENT FUND IS TO PROVIDE SCHOLARSHIPS TO STUDENTS & CASH RESERVES TO THE UNIVERSITY. PART X, LINE 2: PART X, LINE 2: FASB ASC 740, INCOME TAXES PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED, AND DISCLOSED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE GUIDANCE REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE UNIVERSITY'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS WOULD MORE LIKELY THAN NOT BE SUSTAINED BY THE APPLICABLE TAX AUTHORITY UPON EXAMINATION. THE UNIVERSITY BELIEVES THAT IT HAS SUFFICIENT JUSTIFICATION FOR ANY TAX POSITONS TAKEN, INCLUDING ALLOCATION OF EXPENSE TO ITS UNRELATED BUSINESS INCOME, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX PROVISIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPONSORED SCHOLARSHIPS <$21,410,467> UNREALIZED GAIN ON INTEREST RATE SWAP $228,373 PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES <$22,717> GOLF COURSE COST OF SALES <$42,709> PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES $22,717 GOLF COURSE COST OF SALES $42,709 PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION ADJUSTMENT $25,819 SPONSORED SCHOLARSHIPS $21,410,467 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 METHODIST UNIVERSITY PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ANNUAL ACADEMIC CATALOG, ON ITS WEBSITE, AND IN ALL ADVERTISEMENTS & SOLICITATIONS SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL AND STATE AID FOR STUDENT FINANCIAL AID AWARDS, AND FUNDS FOR THE CONSTRUCTION OF FACILITIES AND PURCHASE OF EQUIPMENT FOR THE UNIVERSITY'S EDUCATIONAL PROGRAMS. CENTRAL AMERICAN / CARIBBEAN PROGRAM SERVICES STUDY ABROAD $32,417RECRUITING $5,291HUMANITARIAN $44,634 82342 EUROPE PROGRAM SERVICESPROGRAM SERVICESPROGRAM SERVICES STUDY ABROAD $43,023RECRUITING $13,235 56258 NORTH AMERICA PROGRAM SERVICESPROGRAM SERVICES RECRUITING $59 59 EAST ASIA AND PACIFIC PROGRAM SERVICESPROGRAM SERVICES STUDY ABROAD $5,027RECRUITING $4,804 9831 SOUTH ASIA PROGRAM SERVICES RECRUITING $4,681 4681 SOUTH AMERICA PROGRAM SERVICES RECRUITING $2,211 2211 MIDDLE EAST & NORTH AFRICA PROGRAM SERVICESPROGRAM SERVICES STUDY ABROAD $434 434 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY ABROAD $6,456RECRUITING $7,696HUMANITARIAN $10,000 24152 RUSSIA AND NEIGHBOR STATES PROGRAM SERVICES RECRUITING $3,198 3198 0 0 0 0 0 0 179968 3198 183166 0 0 0 0 0 0 PART I, LINE 3: PART I COLUMN - ACCOUNTING METHOD: THE AMOUNTS REPORTED IN COLUMN F REPRESENT EXPENSES OF THE UNIVERISITY'S INTERNATIONAL RECRUITING DEPARTMENT. THE UNIVERSITY'S ACCOUNTING SYSTEM DODS NOT TRACK THESE EXPENSES BY REGION. THE TOTAL EXPENSES WERE DIVIDED UP AMONG THE REGIONS VISITED, BASED ON ESTIMATES OF REGIONAL COSTS TO TOTAL COSTS. 29837 21020 8817 9732 2165 4510 6310 29837 21020 8817 9732 2165 4510 6310 22717 -13900 1 TUITION ASSISTANCE 1837 21410467 0 FMV PART I, LINE 2: PART I QUESTION 2 GRANTS TO RECIPIENTS IN THE U.S. INCLUDED TUITION ASSISTANCE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR BEN E HANCOCK JR PRESIDENT 331475 0 0 0 4528 0 20219 0 21662 0 377884 0 0 0 PART I, LINE 1A THE UNIVERSITY MAINTAINS A RESIDENTIAL HOME ON CAMPUS WHERE THE PRESIDENT LIVES AS A CONDITION OF EMPLOYMENT. THE UNIVERSITY PAYS SOCIAL CLUB DUES OF $325 MONTHLY FOR THE PRESIDENT'S MEMBERSHIP IN HIGHLAND COUNTRY CLUB. THE UNIVERSITY PROVIDES PERSONAL SERVICES OF LIGHT HOUSEKEEPING, PERFORMED BY THE UNIVERSITY'S JANITORIAL STAFF AT THE RESIDENCE OF THE PRESIDENT. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PEF2 2005-10-13 24000000 REFUND SERIES 2000 BONDS 0 0 0 B NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65819GHL5 2012-08-29 17613130 FUND VARIOUS CAPITAL PROJECTS 0 0 0 A 24000000 14895696 205689 8898615 2007 1 0 1 1 B 17613130 1342500 9581476 349530 6339624 2013 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 1 1 BK OF AMERICA & WELLS FARGO 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 A 0 B 0 SCHEDULE K, PART IV, LINE 2C: 9/30/2013 SYSTEL OFFICE AUTOMATION OWNED BY A TRUSTEE 153411 COPIER LEASES 0 MCCOY WIGGINS CLEVELAND PARTNER IS TRUSTEE 81936 LEGAL SERVICES 0 X 2 13850 APPRAISAL X 13 856625 QUOTED STOCK PRICES X 3 205000 APPRAISAL 0 1 1 PART I, LINE 32B: THE UNIVERSITY UTILIZES ITS BROKERAGE INVESTEMENT FIRMS TO RECEIVE & SELL GIFTS OF STOCK AS RECEIVED FROM TIME TO TIME. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED JOINTLY BY MANAGEMENT & THE EXTERNAL AUDITORS. IT IS REVIEWED BY MANAGEMENT & THE AUDIT COMMITTEE WITH THE EXTERNAL AUDITORS DURING THE REVIEW OF THE AUDITED FINANCIAL STATEMENTS. THE AUDIT COMMITTEE RELAYS THE RESULTS OF THE REVIEW TO THE FULL BOARD AT THE NEXT BOARD MEETING, & A COPY OF FORM 990 IS MADE AVAILABLE TO THE FULL BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY ANNUALLY DISTRIBUTES ITS CONFLICT OF INTEREST POLICY & DISCLOSURE FORM TO ALL BOARD MEMBERS & EMPLOYEES WITH BUDGET AUTHORITY, FOR REVIEW OF THE POLICY & COMPLETION OF THE QUESTIONNAIRE. A DESIGNATED COMMITTEE REVIEWS THE DISCLOSURE FORMS FOR POSSIBLE CONFLICTS OF INTEREST. ANY FINDINGS ARE SUBMITTED TO THE UNIVERSITY'S AUDIT COMMITTEE FOR REVIEW. THE UNIVERSITY GENERALLY PROHIBITS TRANSACTIONS WITH CONFLICT OF INTEREST PARTIES. HOWEVER, THE AUDIT COMMITTEE HAS THE AUTHORITY TO APPROVE CERTAIN TRANSACTIONS IF IN THE BEST INTEREST OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A THE UNIVERSITY'S PRESIDENTIAL SALARY COMMITTEE EVALUATES THE PRESIDENT'S SALARY ON AN ANNUAL BASIS UTILIZING COMPARABILITY DATA, INCLUDING SALARY & BENEFITS HISTORY FROM BOTH WITHIN THE UNIVERSITY & OTHER PRIVATE COLLEGES & UNIVERSITIES IN N.C. THE PRESIDENTIAL SALARY COMMITTEE RECOMMENDS A SALARY FOR THE PRESIDENT TO THE UNIVERSITY'S FULL BOARD OF TRUSTEES. THE BOARD HOLDS AN EXECUTIVE SESSION TO VOTE & APPROVE THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS AVAILABLE ON THE UNIVERSITY'S WEBSITE. FORM 990, PART XI, LINE 9: BOOK/TAX DEPRECIATION ADJUSTMENT $25,819 UNREALIZED GAIN ON INTEREST RATE SWAP $228,373 254,192. KING'S GRANT GOLF MANAGEMENT LLC 5400 RAMSEY STREET FAYETTEVILLE NC 28311 208176567 GOLF COURSE NC -240916 1354741 SINGLE MEMBER LLC WITH UNIVERSITY AS MEMBER METHODIST UNIVERSITY DEVELOPMENT CORPORATION 5400 RAMSEY STREET FAYETTEVILLE NC 28311 561972859 REAL ESTATE DEVELOPMENT NC REPORTS SEPARATELY ON FORM 1120 C 94345 1912988 1.00000 1 1 0 0 1 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 METHODIST UNIVERSTIY DEVELOPMENT CORP A 34335 FMV CASH KING'S GRANT GOLF MANAGEMENT D 218409 FMV CASH METHODIST UNIVERSITY DEVELOPMENT CORP K 186000 FMV CASH KING'S GRANT GOLF MANAGEMENT M 46600 FMV CASH DE MINIMIS O 0 FMV CASH DE MINIMIS Q 0 FMV CASH