2014-05-14T13:30:18-05:00 2013-06-30 272616366 EBELHAR WHITEHEAD PLLC 100 WEST THIRD STREET SUITE 200 OWENSBORO KY 42303 990 2012-07-01 610458355 ASBURY COLLEGE ASBU 8598583511 1 MACKLEM DRIVE WILMORE KY 40390 CHARLIE D FISKEAUX 8598583511 2014-05-13 1 JOSHUA D MEYER CPA P01229485 2709262922 2012 2015-11-30 17:44:51Z ASBURY UNIVERSITY SANDRA C GRAY 1 MACKLEM DRIVE WILMORE KY 40390 83431716 0 X WWW.ASBURY.EDU X 1904 KY A CHRISTIAN LIBERAL ARTS UNIVERSITY COMMITTED TO ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY, EQUIPPING STUDENTS FOR A LIFETIME OF LEARNING, LEADERSHIP AND SERVICE. 17 17 1351 17 35624 -1364 4764788 7443616 36981954 39576928 1129934 7358750 1173215 1157220 44049891 55536514 10759126 12033172 0 0 18493696 19653138 0 0 1079251 11927834 12609057 41180656 44295367 2869235 11241147 104088312 109171749 15721273 14764152 88367039 94407597 X THE MISSION OF ASBURY UNIVERSITY, AS A CHRISTIAN LIBERAL ARTS UNIVERSITY IN THE WESLEYAN-HOLINESS TRADITION, IS TO EQUIP MEN AND WOMEN, THROUGH A COMMITMENT TO ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY, FOR A LIFETIME OF LEARNING, LEADERSHIP AND SERVICE TO THE PROFESSIONS, SOCIETY, THE FAMILY AND THE CHURCH, THEREBY PREPARING THEM TO ENGAGE THEIR CULTURES AND ADVANCE THE CAUSE OF CHRIST AROUND THE WORLD. 0 0 37456116 12033172 39576928 ASBURY COLLEGE IS A CHRISTIAN LIBERAL ARTS UNIVERSITY. THE UNIVERSITY WAS FOUNDED IN 1890 AND IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS, THE NATIONAL ASSOCIATION OF COLLEGES AND SCHOOLS, THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC AND THETEACHER EDUCATION PROGRAM BY THE KENTUCKY DEPARTMENT OF EDUCATION. THE UNIVERSITY OPERATES A MAIN CAMPUS IN WILMORE, KENTUCKY; A SATELLITE CAMPUS IN ORLANDO, FLORIDA; AND A VIRTUAL CAMPUS FOR ON LINE LEARNING, PROVIDING EDUCATION TO APPROXIMATELY 1,800 STUDENTS. 37456116 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 2245 0 1 1351 1 1 1 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 KY OR X UNIVERSITY PERSONNEL 8598583511 1 MACKLEM DRIVE WILMORE KY 40390 C E CROUSE JR 4.00 X X 0 0 0 DAVID L STEVENS 4.00 X X 0 0 0 RONALD W TARRANT 4.00 X X 0 0 0 RONALD BALL 2.00 X 0 0 0 CHRISTOPHER BOUNDS 2.00 X 0 0 0 MELVIN BOWDAN JR 2.00 X 0 0 0 DAVID L BRAZELTON 2.00 X 0 0 0 LARRY W GREEN 2.00 X 0 0 0 HAROLD L HEINER JR 2.00 X 0 0 0 MORRIS HINTZMAN 2.00 X 0 0 0 MARK H WHITWORTH 2.00 X 0 0 0 SARAH LUCE 2.00 X 0 0 0 RICHARD M WRIGHT 2.00 X 0 0 0 LARRY D BROWN 2.00 X 0 0 0 GREGORY B ISAACS 2.00 X 0 0 0 NATHAN MOWERY 2.00 X 0 0 0 DEBORAH WEIDENHAMER 2.00 X 0 0 0 SANDRA C GRAY 40.00 X 173034 0 20407 CHARLIE D FISKEAUX 40.00 X 109805 0 16468 JOHNATHAN S KULAGA 40.00 X 115345 0 27237 R GREGORY SWANSON 40.00 X 82426 0 12814 MARK J TROYER 40.00 X 92116 0 57789 GLENN HAMILTON 40.00 X 86610 0 14606 DOUGLAS WILCOXSON 40.00 X 60126 0 18717 CHARLES SHEPARD II 40.00 X 0 0 0 719462 0 168038 3 0 1 0 PIONEER COLLEGE CATERERS 12351 WEST 96TH TERRACE STE 204 LENEXA KS 66215 FOOD SERVICE 1847181 WOODFORD BUILDERS INC PO BOX 1297 LEXINGTON KY 40583 CONSTRUCTION 889773 SHERMAN-CARTER-BARNHART ARCHITECTS PSC 2405 HARRODSBURG RD LEXINGTON KY 40504 ARCHITECT 132170 ROGER TURNER CUSTOM HOMES INC 1225 DRAKE LN WILMORE KY 40390 CONSTRUCTION 128656 KNOWLEDGE ELEMENTS 277 MALLORY STATION ROAD SUITE 102 FRANKLIN TN 37067 CONSULTING 109210 5 7443616 329942 7443616 TUITION & FEES 611600 33692176 33692176 AUXILIARY INCOME 611710 5884752 5884752 39576928 1080096 -131 1080227 220250 109625 110625 110625 110625 33657422 24205 27370630 32343 6286792 -8138 6278654 6278654 588759 382604 206155 206155 CONTRACTS & OTHER EXCHANGE TRANSA 900099 712685 712685 POST RETIREMENT BENEFIT OBLIGATIO 900099 92000 92000 LUCE CENTER 713940 35755 35755 840440 55536514 40495768 35624 7561506 12033172 12033172 771867 192060 509491 70316 14446843 11827193 2127231 492419 673323 467724 180871 24728 2611321 1714669 773012 123640 1149784 721233 386703 41848 28014 28014 83662 83662 32058 29738 2320 498945 337859 137212 23874 569313 380977 147589 40747 66177 43311 18944 3922 1323388 1097708 224847 833 490864 340804 94319 55741 27222 25109 2113 752348 711332 41016 3278047 2872685 405362 356812 155629 201183 STUDENT HOUSING 1761517 1761517 STUDENT FOOD SERVICE 1223505 1223505 STUDENT SERVICES & ATHL 811335 811335 1305850 864185 441665 44295367 37456116 5760000 1079251 3090188 3972312 1833772 3852306 1892475 1818491 679922 677453 2563358 2717926 315161 501450 75497 79676 104262772 49912604 54465723 54350168 31772577 24413883 3665717 13580558 3733922 3207526 104088312 109171749 1571518 1736163 8171479 8003013 1678084 1437902 4300192 3587074 15721273 14764152 X 53946093 55246995 6448918 9303507 27972028 29857095 88367039 94407597 104088312 109171749 X 11241147 -4505345 -695244 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 214390 308511 X X X 0 37696469 2259190 2101306 711375 480259 40865331 38002764 671639 507295 1485229 37696469 33329711 428999 5163608 919554 38002764 31323028 536442 2592415 1122174 33329711 37981608 1430144 -7437469 651255 31323028 0.19830 0.73060 0.07110 0 0 847547 1893516 2741063 2147900 71670942 31061266 42757576 5454262 2621990 2832272 20118346 16229348 3888998 2130259 2130259 54350168 HEDGE FUNDS (NON-PUBLICLY TRADED) 13580558 F 13580558 ANNUITIES PAYABLE 1288991 REFUNDABLE US GOVT STUDENT LOAN FUNDS 1701017 STUDENT FEES COLLECTED IN ADVANCE 108496 DEPOSITS HELD IN CUSTODY FOR OTHERS 302671 HEALTH PLAN RESERVE 174001 HOUSING & KEY DEPOSITS 11898 3587074 X 39183837 -4505345 185840 -4319505 43503342 12033172 12033172 55536514 33143279 881084 881084 32262195 12033172 12033172 44295367 PART III, LINE 4: ARTWORK IS DISPLAYED FOR ENRICHMENT OF EDUCATIONAL EXPERIENCE. BOOKS, PAPERS, ETC. FROM THE WESLEY AND MACCLESFIELD COLLECTION ARE HELD IN ARCHIVES FOR EXHIBITION AND RESEARCH. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT CONSISTS OF APPROXIMATELY 360 INDIVIDUAL FUNDS, INCLUDING DONOR-RESTRICTED ENDOWMENT FUNDS AND BOARD-DESIGNATED QUASI ENDOWMENT. THE MAJORITY (82%) OF DONOR RESTRICTED ENDOWMENT FUNDS ARE FOR SCHOLARSHIPS AND FINANCIAL AID, 5% ARE FOR STUDENT LOANS, 5% ARE FOR INSTRUCTIONAL EXPENSES, THE REMAINDER IS FOR UNRESTRICTED AND OTHER SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE UNIVERSITY IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDERSECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND A SIMILAR PROVISION OF STATE LAW. ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION (512)(A)(1) OF THE IRC, IS SUBJECT TO FEDERAL INCOME TAX. THE UNIVERSITY FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. WITH A FEW EXCEPTIONS, THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 382,604. INTERFUND GAIN 8,236. LOSS ON LAND HELD FOR SALE -205,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID DISCOUNTS 12,033,172. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 382,604. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 490,112. CHANGE IN VALUE OF BENEFICIAL INTERESTS 8,368. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID DISCOUNTS 12,033,172. 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 BULLETIN AND SOLICITATION MATERIALS HAVE STATEMENTS REGARDING NONDISCRIMINATION. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FINANCIAL AID FOR STUDENTS FROM THE US DEPARTMENT OF EDUCATION. 1 STUDENT AID DISCOUNTS 3000 12033172 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. X X 1 1 X X 0 0 0 0 0 0 0 0 0 SANDRA C GRAY 168384 0 0 0 4650 0 10479 0 9928 0 193441 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - SPOUSAL TRAVEL IS REIMBURSED WHEN THERE IS A BUSINESS REASON FOR THE SPOUSE TO TRAVEL WITH THE OFFICER. TAX INDEMNIFICATION AND GROSS UP PAYMENTS - THE PRESIDENT USES A UNIVERSITY OWNED CAR FOR COMMUTING AND OTHER NON-BUSINESS USE. A CITY OF WILMORE KY 616001932 2009-12-18 9000000 CONSTRUCTION OF CAMPUS FACILITIES 0 0 0 A 996987 9000000 335931 9000000 2010 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 0 A 0 X 1 214390 APPRAISAL X 1750 COMPARABLE SALES X 1100 COMPARABLE SALES X PIANO 1 84000 APPRAISAL X COMM EQUIPMENT 1 14000 COMPARABLE SALES X LIVESTOCK-HORSES 1 6000 COMPARABLE SALES X SUPPLIES & EQUIPMENT 1 19538 COMPARABLE SALES 1 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE GOVERNING BOARD DELEGATES THE REVIEW OF THE CORE FORM TO THE AUDIT COMMITTEE, MANAGEMENT REVIEWS THE RETURN WITH OUR INDEPENDENT ACCOUNTANTS BEFORE THE FORM IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY AND IDENTIFIES ANY EXISTING CONFLICTS, OR AFFIRMS THAT THERE IS NO CONFLICT OF INTEREST. THE FORMS ARE SUBMITTED TO THE SECRETARY OF THE BOARD OF TRUSTEES. THE COMMITTEE ON GOVERNANCE AND TRUSTEE DEVELOPMENT HAS THE RESPONSIBILITY TO REVIEW AND MONITOR COMPLIANCE WITH THE PROCEDURE. THE CONFLICT OF INTEREST POLICY FOR EMPLOYEES AND OFFICERS REQUIRES DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST TO THE EMPLOYEE'S SUPERVISOR, BUT DOES NOT REQUIRE ANNUAL DISCLOSURE AND AFFIRMATION. FORM 990, PART VI, SECTION B, LINE 15 CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIALS: COMPARITIVE DATA WAS COMPILED BY THE HUMAN RESOURCES OFFICE AND SUPPLIED TO THE BOARD OF TRUSTEES COMMITTEE ON PRESIDENTIAL COMPENSATION IN SPRING 2012. OTHER OFFICERS OR KEY EMPLOYEES: ANNUAL COMPARATIVE SALARY SURVEYS ARE COMPLETED BY THE HUMAN RESOURCES OFFICE. THIS STUDY INCLUDED BENCHMARKED TARGET SALARIES. RECOMMENDATIONS ARE GIVEN TO THE PRESIDENT FOR REVIEW. LAST OCCURRED IN SPRING 2012. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S CONFLICT OF INTEREST STATEMENT IS AVAILALBLE IN THE ADMINISTRATIVE POLICY MANUAL, ON THE ORGANIZATION'S WEBSITE. THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: INTERFUND GAIN 8,236. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -490,112. CHANGE IN BENEFICIAL INTEREST IN TRUSTS -8,368. UNREALIZED LOSS ON LAND HELD FOR SALE -205,000.