2013-03-05T12:39:20-06:00 2012-06-30 560587513 HAIGH BYRD & LAMBERT LLP PO BOX 53349 FAYETTEVILLE NC 283053349 990 2011-07-01 560657294 THE METHODIST UNIVERSITY INC METH 9106307000 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 DAWN AUSBORN 9106307610 2013-02-07 1 MARCUS A HEDGEPETH P00151295 9104831437 2011 2016-02-25 16:41:14Z DR BEN E HANCOCK JR 5400 RAMSEY STREET FAYETTEVILLE NC 283111420 73355469 0 X WWW.METHODIST.EDU X 1956 NC UNDERGRADUATE AND GRADUATE EDUCATION 35 33 1807 0 793223 -200643 5521957 5870167 57100115 62056522 1159083 563389 -16555 -16645 63764600 68473433 16934046 18572176 0 0 24898157 26025615 0 0 611833 17481522 19776276 59313725 64374067 4450875 4099366 83438481 90900724 34909618 39424832 48528863 51475892 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 45593379 49895460 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. 11893178 12161062 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. 57486557 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 0 0 0 1 1 1 1 0 0 1 119 0 1 1807 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 35 33 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 0.00 X 0 0 0 MR KEITH ALLISON 0.00 X X 0 0 0 DR MARY LYNN BRYAN 0.00 X X 0 0 0 MR A HOWARD BULLARD 0.00 X X 0 0 0 MR ALFRED E CLEVELAND 0.00 X 0 0 0 DR LOLETA WOOD FOSTER 0.00 X 0 0 0 REV DR R CARL FRAZIER JR 0.00 X 0 0 0 REV DR BRIAN G GENTLE 0.00 X 0 0 0 MR LES A GRIFFIN 0.00 X 0 0 0 GENRET JOHN W HANDY 0.00 X 0 0 0 MRS BETTY UPCHURCH HASTY 0.00 X 0 0 0 MR J DANIEL HIGHSMITH SR 0.00 X 0 0 0 MRS DOROTHY B HUBBARD 0.00 X 0 0 0 MR H TERRY HUTCHENS 0.00 X 0 0 0 MRS JANE HOOK JOHNSON 0.00 X 0 0 0 MR JERRY A KEEN 0.00 X 0 0 0 MR EARL D LEAKE 0.00 X 0 0 0 MR O RAY MANNING JR 0.00 X X 0 0 0 DR ERIC L MANSFIELD 0.00 X 0 0 0 DR ALLEN G MASK JR 0.00 X 0 0 0 MR RON B MATTHEWS 0.00 X 0 0 0 MR GEORGE W MILLER JR 0.00 X 0 0 0 DR HW MILLER IV 0.00 X 0 0 0 MR DAVID R NIMOCKS III 0.00 X 0 0 0 MRS MARGARET HIGHSMITH DICKSON 0.00 X 0 0 0 MR DON PRICE 0.00 X 0 0 0 DR JOHN W SCHRADER 0.00 X 0 0 0 DR LOUIS SPILMAN JR 0.00 X 0 0 0 MR DAVID K TAYLOR JR 0.00 X 0 0 0 MR THOMAS L WALDEN SR 0.00 X 0 0 0 MR LAWRENCE H WALSH 0.00 X 0 0 0 MR WILLIAM R WEST SR 0.00 X 0 0 0 MR RAMON L YARBOROUGH 0.00 X 0 0 0 DR JASON A WILLIAMS 0.00 X 0 0 0 DR HARVEY T WRIGHT 0.00 X X 0 0 0 DR BEN E HANCOCK JR 40.00 X 268388 0 31862 DR GENE T CLAYTON 40.00 X 124816 0 10781 ROBIN DAVENPORT 40.00 X 66212 0 7923 REV DR MICHAEL SAFLEY 40.00 X 85322 0 8840 DR DONALD LASSITER 40.00 X 84220 0 9090 WILLIAM WALKER 40.00 X 58785 0 7631 RICK LOWE 40.00 X 79392 0 8610 DR DELMAS CRISP 40.00 X 142964 0 12302 NARENDRA SINGH 40.00 X 111517 0 9744 TAT CHAN 40.00 X 105783 0 5289 DAMAYANTI DATTA 40.00 X 107083 0 0 KOMMU CHANDRASEKHAR 40.00 X 140805 0 5456 1375287 0 117528 7 0 1 0 SFLA ARCHITECTS 214 BURGESS ST FAYETTEVILLE NC 28301 ARCHITECTS 454906 JOE E HALL GENERAL CONTRACTING 5301 CHICKENFOOT RD ST PAULS NC 28384 CONSTRUCTION 301392 ALLMAN ELECTRIC CORP 345 WILKES RD FAYETTEVILLE NC 28306 ELECTR CONTRACTOR 127368 3 21170 2068101 3780896 530767 5870167 TUITION AND FEES 49171520 49171520 DORM REVENUES 6215544 6215544 BOARD REVENUES 2870755 2870755 GOLF COURSE REVENUES 713910 793223 793223 3005480 3005480 62056522 511705 511705 4905194 5086 4858596 0 46598 5086 51684 5086 46598 6795 21170 23440 -16645 -16645 68473433 61268385 793223 541658 18572176 18572176 1375287 831651 477424 66212 19993718 17617293 2187159 189266 841525 706039 126362 9124 2287408 1936865 324189 26354 1527677 1305428 202695 19554 48608 48608 66880 66880 92430 38430 54000 964230 381076 550606 32548 327408 122516 202825 2067 768852 573524 77584 117744 320281 97102 206461 16718 3678009 3528287 145497 4225 1412958 1158777 211910 42271 16574 16574 893383 853759 38031 1593 2734501 2557902 175124 1475 654040 423125 228776 2139 SUPPLIES 1874827 1478264 381250 15313 FOOD SERVICES CONTRACT 1735309 1735309 BOOKSTORE COST OF GOODS 1412714 1412714 EQUIPMENT RENT & REPAIR 1257288 1147734 106723 2831 1517984 1030442 479143 8399 64374067 57486557 6275677 611833 194777 289064 9326346 10116923 931054 1240993 952857 1045754 28525 19365 342427 448850 277291 473469 92170294 30971418 54926354 61198876 13952527 13564741 921091 1016586 1397521 1346287 187711 139816 83438481 90900724 2462718 3492309 1130801 959718 20090000 19400000 175867 148561 8681086 12624871 2369146 2799373 34909618 39424832 X 36820978 39472482 3908158 3528705 7799727 8474705 48528863 51475892 83438481 90900724 X 4099366 -1152337 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 54000 0 1 38430 92430 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: (I) THE UNIVERSITY PAID MEMBERSHIP DUES OF $38,430 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. PART II-B, LINE 1(G) THE UNIVERSITY USES THE PROFESSIONAL SERVICES OF THE FERGUSON GROUP, AN ORGANIZATION WHICH LOBBIES CONGRESS & FEDERAL AGENCIES ON BEHALF OF PUBLIC & PRIVATE INTERESTS ACROSS THE U.S. FOR COMPETITIVE FEDERAL GRANT APPROPRIATIONS. 81665 X X 0 0 1 18968075 3728171 6279 436411 3463137 85735 18717242 14745939 4435266 2622781 484315 2287153 64443 18968075 13602521 912602 1486165 620261 564313 70775 14745939 16011157 1184105 -1996590 547031 988849 60271 13602521 0.46000 0.45000 0.08000 0 0 108500 2350804 2459304 63249802 19392338 43857464 12026 7622 4404 12229216 8362259 3866957 14219946 3209199 11010747 61198876 FEDERAL PORTION PERKINS LOANS DUE 467859 INTEREST RATE SWAP LIABILITY 2147791 STUDENT DORM DEPOSITS 76165 ANNUITY LIABILITY 107558 2799373 68473433 64374067 4099366 -638951 -513386 -1152337 2947029 48862306 -638951 -19070578 -19709529 68571835 -98402 -98402 68473433 45915278 98402 98402 45816876 18557191 18557191 64374067 PART III, LINE 4: THE UNIVERSITY MAINTAINS A FEW HISTORICAL COLLECTIONS WITHIN ITS LIBRARY, INCLUDING DRAWINGS, LETTERS, MONOGRAPHS, BOOKS & RECORDS. PART IV, LINE 2B: BANK ACCOUNTS FOR STUDENT CLUBS & OTHER AFFILIATED GROUPS DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE UNIVERSITY'S ENDOWMENT FUNDS IS TO PROVIDE SCHOLARSHIPS TO STUDENTS & CASH RESERVES TO THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 POSITIONS TAKEN, INCLUDING ALLOCATION OF EXPENSES 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 8 - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION ADJUSTMENT <$14,984> UNREALIZED LOSS ON INTEREST RATE SWAP <$498,402> -513,386. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPONSORED SCHOLARSHIPS <$18,572,176> UNREALIZED LOSS ON INTEREST RATE SWAP <$498,402> PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES <$23,440> GOLF COURSE COST OF SALES <$74,962> PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES $23,440 GOLF COURSE COST OF SALES $74,962 PART XIII, LINE 4B - OTHER ADJUSTMENTS: BOOK/TAX DEPRECIATION ADJUSTMENT <$14,985> SPONSORED SCHOLARSHIPS $18,572,176 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 METHODIST UNIVERSITY PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ANNUAL ACADEMIC CATALOG, ON ITS WEBSITE, AND IN ALL ADVERTISEMENTS & SOLICITATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE 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 AMERICA / CARIBBEAN PROGRAM SERVICES RECRUITING $6,204 STUDY ABROAD $3,191 HUMANITARIAN $9,573 18968 EAST ASIA & PACIFIC PROGRAM SERVICES RECRUITING 11887 EUROPE PROGRAM SERVICES RECRUITING $7,191 STUDY ABROAD $19,177 26368 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD 10793 SOUTH SUDAN PROGRAM SERVICES HUMANITARIAN 16058 0 0 0 0 0 0 84074 0 84074 0 0 0 0 0 0 PART I COLUMN F - ACCOUNTING METHOD: THE AMOUNTS REPORTED IN COLUMN F REPRESENT EXPENSES OF THE UNIVERSITY'S INTERNATIONAL RECRUITING DEPARTMENT. THE UNIVERSITY'S ACCOUNTING SYSTEM DOES NOT TRACK THESE EXPENSES BY REGION. THE TOTAL EXPENSES WERE DIVIDED UP AMOUNG THE REGIONS VISITED BASED ON ESTIMATES OF REGIONAL COSTS TO TOTAL COSTS. GOLF TOURNAMENT 27965 21170 6795 10989 1151 3980 7320 27965 21170 6795 10989 1151 3980 7320 23440 -16645 1 TUITION ASSISTANCE 1788 18572176 0 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 266667 0 0 0 1721 0 14070 0 17792 0 300250 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. NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818OEF2 2005-10-13 24000000 TO REFUND SERIES 2000 BONDS & FUND VARIOUS CAPITAL PROJECTS 0 0 0 24000000 14895696 205689 8898615 9104304 2007 1 0 1 1 0 0 0 0 0 0 1 1 BK OF AMER & WELLS-FARGO 0 0 0 0 1 SYSTEL OFFICE AUTOMATION OWNED BY A TRUSTEE 130115 COPIER LEASES 0 MCCOY WIGGINS CLEVELAND & O'CONNOR PARTNER IS A TRUSTEE 34040 LEGAL SERVICES 0 X 6714 THRIFT SHOP VALUE X 2 514103 QUOTED STOCK PRICES 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE UNIVERSITY UTILIZES ITS BROKERAGE INVESTMENT 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -638,951. BOOK/TAX DEPRECIATION ADJUSTMENT <$14,984> UNREALIZED LOSS ON INTEREST RATE SWAP <$498,402> -513,386. TOTAL TO FORM 990, PART XI, LINE 5: -1,152,337. KING'S GRANT GOLF MANAGEMENT LLC 5400 RAMSEY STREET FAYETTEVILLE NC 28311 208176567 GOLF COURSE NC -166228 1374881 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 95494 1721596 1.00000 1 0 0 1 0 0 0 0 0 1 0 1 0 1 0 1 0 0 METHODIST UNIVERSITY DEVELOPMENT CORP A 34368 FMV CASH KINGS GRANT GOLF MANAGMENT D 94150 FMV CASH METHODIST UNIVERSITY DEVELOPMENT CORP J 186000 FMV CASH KINGS GRANT GOLF MANAGMENT L 49600 FMV CASH DE MINIMIS N 0 FMV CASH DE MINIMIS P 0 FMV CASH