2014-05-08T10:16:21-05:00 2013-06-30 135381590 BDO USA LLP 7101 WISCONSIN AVE SUITE 800 BETHESDA MD 208144827 990 2012-07-01 560529988 WILLIAM PEACE UNIVERSITY WILL 9195082035 15 EAST PEACE STREET RALEIGH NC 27604 GEORGE A YEARWOOD 9195082035 2014-05-08 1 MICHAEL SORRELLS CPA P00001737 3016544900 2012 2015-11-30 17:44:51Z DR DEBRA M TOWNSLEY 15 EAST PEACE STREET RALEIGH NC 27604 24015609 0 X WWW.PEACE.EDU X 1857 NC 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. 14 14 425 150 269856 0 1390928 2352360 16764082 19571253 655334 334753 4675001 1757243 23485345 24015609 6142993 6984567 0 0 7782526 8831354 0 0 362892 8543817 9888992 22469336 25704913 1016009 -1689304 70665661 74513481 11632381 17070382 59033280 57443099 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-LONG 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. 0 0 9614110 6980312 16788227 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 IN PERSONAL FINANCIAL MANAGEMENT, MEDIA LITERACY, AND FOUR YEARS OF WRITING COURSES WITHIN THE ENGLISH DEPARTMENT. (SEE SCHEDULE O FOR CONTINUATION.) 3194052 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. (SEE SCHEDULE O FOR CONTINUATION.) 3129854 3513524 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. (SEE SCHEDULE O FOR CONTINUATION.) 15938016 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 56 0 1 425 1 1 1 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 NC X GEORGE A YEARWOOD 9195082035 15 EAST PEACE STREET RALEIGH NC 27604 MARY DAVIS BETTS 2.00 X 0 0 0 RAE MARIE H CZUHAI '85 2.00 X 0 0 0 GERALD JEB JEUTTER 2.00 X 0 0 0 J FREDERICK KELLY JR 2.00 X 0 0 0 LEE RAST '75 2.00 X 0 0 0 CHARLES TERRY REEVES 2.00 X 0 0 0 AB SWINDELL IV 2.00 X 0 0 0 SCOTT CUSTER 2.00 X 0 0 0 RICK MARTINEZ 2.00 X 0 0 0 EDWARD MCLEOD JR 2.00 X 0 0 0 TODD ROBINSON 5.00 X X 0 0 0 BETH CHERRY 5.00 X X 0 0 0 MARY-KATHRYN ADCOCK 5.00 X X 0 0 0 WILLARD ROSS 5.00 X X 0 0 0 DEBRA TOWNSLEY 50.00 2.00 X 431054 0 21833 GEORGE ROCKY YEARWOOD 50.00 2.00 X 147504 0 11931 AMBER STENBECK 40.00 X 168838 0 12320 LAURA ALBERT 40.00 X 120335 0 5277 ANN DENLINGER 40.00 X 110914 0 7910 JULIE RICCIARDI 40.00 X 109162 0 9760 JUSTIN ROY 40.00 X 101253 0 9513 1189060 0 78544 7 0 1 0 THE BUDD GROUP POBOX 89056 CHARLOTTE NC 282890856 FACILITIES SERVICES 433694 PARKER POE ADAMS BERNSTEIN LLP 401 S TRYON ST STE 3000 CHARLOTTE NC 282021942 LEGAL 336276 GLENN MILLS FISHER AND MAHONEY P 404 HUNT STREET STE 100 DURHAM NC 27701 LEGAL 230000 SMITH SINNETT ARCHITECTURE 4600 LAKE BOONE TRAIL RALEIGH NC 27607 ARCHITECTURAL SERVICES 120680 4 231673 126481 1994206 113794 2352360 TUITION AND FEES 900099 15787873 15787873 AUXILIARY ENTERPRISES 900099 3513524 3513524 VISITOR SERVICES 531120 269856 269856 19571253 334753 334753 OTHER INCOME 900099 1000356 1000356 CAP. GAINS FROM INV POOL 900099 756887 756887 1757243 24015609 20301753 269856 1091640 6984567 6984567 595550 201647 349093 44810 7057237 4901969 1952428 202840 91137 69007 20459 1671 646160 333544 305917 6699 441270 313904 120546 6820 566723 566723 91913 91913 574701 574701 1824870 1172940 651930 573239 140148 408274 24817 385975 122325 247023 16627 640190 640190 207929 190901 12162 4866 287414 68617 218797 1402475 600706 801769 336038 336038 OPERATION/MAINTENANCE 1441525 2223 1439302 PROGRAM SUPPORT 1406453 782523 578294 45636 TRAINING/DEVELOPMENT 134377 52995 73276 8106 NET LEGAL SETTLEMENTS 15170 15170 25704913 15938016 9404005 362892 3864002 4363996 605094 654368 705337 550881 683939 1141235 44348979 12182243 31649203 32166736 21777486 28089052 4515830 376861 6864770 7170352 70665661 74513481 2334471 1701557 8785000 15185000 512910 183825 11632381 17070382 X 22120099 21222011 11206521 10034928 25706660 26186160 59033280 57443099 70665661 74513481 X -1689304 -463011 562134 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 0.00820 0.79740 0.19440 0 1 1 3285158 3285158 35759742 9390937 26368805 5304079 2791306 2512773 32166736 CONTRIBUTIONS RECEIVABLE FROM CHARITABLE TRUSTS 2066034 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 4433084 OTHER 486437 DUE FROM PEACE COLLEGE OF RALEIGH FOUNDATION 34014 FAIR VALUE OF INTEREST RATE SWAP 150783 7170352 ANNUITIES PAYABLE 69043 LEASES PAYABLE 42842 ACCRUED INTEREST 71940 183825 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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 DONOR-IMPOSED RESTRICTIONS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 PUBLICIZED ANNUALLY THROUGH THE NEWSPAPER (RAN IN THE NEWS AND OBSERVER ON 8/5/12). IT IS ALSO INCLUDED IN ALL PRINT ADVERTISEMENTS AND LISTED ON THE WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 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. 1 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM 324 61220 INSTITUTIONAL GRANTS 632 6915560 NORTH CAROLINA TUITION ASSISTANCE PROGRAM 1 7786 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: 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 QUALIFICATION FOR NEEDS BASED SCHOLARSHIPS. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DEBRA TOWNSLEY 287054 0 60000 0 84000 0 0 0 21833 0 452887 0 0 0 GEORGE ROCKY YEARWOOD 147504 0 0 0 0 0 0 0 11931 0 159435 0 0 0 AMBER STENBECK 168838 0 0 0 0 0 0 0 12320 0 181158 0 0 0 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 7 113794 AVG VALUE ON DAY REC 0 1 0 INSTRUCTION/ACADEMIC SUPPORT-PROGRAM SERVICE ACCOMPLISHMENTS (CONTINUATION) FORM 990, PART III, LINE 4A 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. STUDENT SERVICES/ACTIVITIES-PROGRAM SERVICE ACCOMPLISHMENTS (CONTINUATION): FORM 990, PART III, LINE 4B 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, MEN'S AND WOMEN'S SOCCER, SOFTBALL, MEN'S AND WOMEN'S TENNIS, AND WOMEN'S VOLLEYBALL. AUXILIARY ENTERPRISES-PROGRAM SERVICE ACCOMPLISHMENTS (CONTINUATION): FORM 990, PART III, LINE 4C 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, IT'S ALL THERE! ADDITIONALLY, AT PEACE, YOU HAVE OPTIONS FOR YOUR TEXTBOOKS: BUY NEW OR USED TEXTBOOKS, RENT YOUR TEXT BOOK, OR GO DIGITAL. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF FORM 990 IS PRESENTED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES FOR DETAILED REVIEW. THE FINANCE COMMITTEE REVIEWS THE DETAILS AND APPROVES IT PRIOR TO BEING FILED. THE FULL BOARD REVIEWS THE FORM 990 ON A HIGH LEVEL PRIOR TO IT BEING FILED. 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 AS 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGES IN SPLIT INTEREST TRUST AGREEMENTS 86,010. CHANGES IN INTEREST RATE SWAP AGREEMENTS 277,912. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 142,793. GAIN ON EXTINGUISHMENT OF DEBT 55,419. NONCONTROLLING INTEREST IN SUBSIDIARY OVERSIGHT OF THE AUDITED FINANCIAL STATMENTS: FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN THE PROCESS. FORMER KEY EMPLOYEES WHO CANNOT BE REACHED AT THE UNIVERSITY ADDRESS FORM 990, PART VI, LINE 9 AMBER STENBECK 4820 SMITH CREEK PARKWAY RALEIGH, NC 27612 ANN DELINGER: 3912 LAUREL MANOR COURT RALEIGH, NC 27612 PEACE COLLEGE OF RALEIGH FOUNDATION 15 EAST PEACE STREET RALEIGH NC 27604 560792704 TO SUPPORT THE MISSION OF WILLIAM PEACE UNIVERSITY NC 501(C)(3) LINE 11B, II WILLIAM PEACE UNIVERSITY 0 PEACE COLLEGE AND FOUNDATION INVESTMENT POOL LLC 15 EAST PEACE STREET RALEIGH NC 27604 943481706 INVESTING ACTIVITY FOR WM. PEACE UNIV AND THE PEACE COLLEGE FOUNDATION NC INVESTMENT 804543 28450561 0 0 0.80910 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 PEACE COLLEGE AND FOUNDATION INVESTMENT POOL LLC R 353435 CASH PEACE COLLEGE AND FOUNDATION INVESTMENT POOL LLC S 1732962 CASH