2013-05-13T16:31:50-05:00 2012-06-30 BKD LLP 190 E Capitol Street Ste 500 Jackson MS 392012190 990 2011-07-01 640303084 Millsaps College % LOUISE BURNEY MILL 6019741100 PO Box 150433 Jackson MS 39210 Louise Burney 2013-05-15 true Penny Wood CPA 6019486700 2011 2016-02-24 21:20:13Z LOUISE BURNEY PO Box 150433 Jackson MS 39210 52967328 false X www.millsaps.edu X 1890 MS Millsaps College is a private nonprofit liberal arts college based in Jackson, Mississippi. The college provides education and training services for students at the undergraduate and graduate levels. 40 40 942 387350 9607 7223996 6686717 35560549 34467519 1967612 4582081 2163557 2551434 46915714 48287751 17489670 16570043 0 0 20212044 19846875 7051 11917 1122466 15479109 15211590 53187874 51640425 -6272160 -3352674 155807421 146523352 41756423 43067198 114050998 103456154 MILLSAPS COLLEGE IS DEDICATED TO ACADEMIC EXCELLENCE, TO OPEN INQUIRY AND FREE EXPRESSION, TO THE EXPLORATION OF FAITH TO INFORM VOCATION, AND TO THE INNOVATIVE SHAPING OF THE SOCIAL, ECONOMIC, AND CULTURAL PROGRESS OF OUR REGION. false false 44179947 16570043 29035780 Educational facilities and personnel providing an ideal atmosphere for learning for approximately 985 students. This is achieved with one teacher for every 9 students and an average class size of 15. 414476 5431739 Auxiliary enterprises including the housing of 78% of the approximately 985 students enrolled. 44594423 true true false false false false false false true true true false true true false false true true true true true true false false false false false true true true false false false false false false false false false false true false false false true true true true true false true 250 0 true 942 true true true false false false false true true false false false false X 40 40 false false true false false false false true true false false true true true true true true true true false MS X LOUISE BURNEY 6019741100 1701 N STATE STREET JACKSON MS 39210 Paul Benton 1.0 X Rev Jerry Bostick Beam 1.0 X Dan Bowling 1.0 X Jim Coggin 1.0 X Will Flatt 1.0 X Tom Fowlkes 1.0 X Cris Glick 1.0 X Maurice Hall 1.0 X Monica Sethi Harrigill 1.0 X Richard Hickson 1.0 X Randy James 1.0 X Eason Leake 1.0 X John Lindsey 1.0 X Hal Malchow 1.0 X Rev Bill McAlilly 1.0 X Vaughan Mcrae 1.0 X Mike McRee 1.0 X Don Mitchell 1.0 X Cooper Morrison 1.0 X Bud Robinson Jr 1.0 X Bishop Hope Ward 1.0 X William Yates III 1.0 X Rev Zachary Beasley 1.0 X Bill Bynum 1.0 X Mark Freeman 1.0 X Rev Lisa Garvin 1.0 X William F Goodman III 1.0 X Rev Heather Hensarling 1.0 X Peder Johnson 1.0 X Rev Geoffrey Joyner 1.0 X Richard Mills 1.0 X Paul Ogden 1.0 X Bobby Robbins 1.0 X Mike Sturdivant Jr 1.0 X Mack Varner 1.0 X Rev Luther Ott 1.0 X Steven Smith 1.0 X Murray Underwood 1.0 X Toddy Sanders 1.0 X Rev Joey Shelton 1.0 X Keith Dunn 40.0 X 83866 8802 Louise Burney 40.0 X 138920 0 14749 Brit Katz 40.0 X 98893 11626 Robert Pearigen 40.0 X 350510 0 20964 Terri Hudson 40.0 X 110985 5542 Jesse Beeler 40.0 X 171132 0 13600 Kimberly Burke 40.0 X 150053 0 31643 Howard McMillan 40.0 X 140639 0 0 Tim Ward 40.0 X 115260 23514 Robert McElvaine 40.0 X 133168 0 25131 David Davis 40.0 X 102153 0 21342 Frances Lucas X 249490 0 11931 1845069 0 188844 15 true true false GLAHI TRUST 200 S WACKER DRIVE CHICAGO IL 60606 INSURANCE 2188038 VALLEY INNOVATIVE SERVICES PO BOX 5454 JACKSON MS 39288 FOOD SERVICES 2074216 IVEY MECHANICAL CO LLC 183 MARKETRIDGE DR RIDGELAND MS 39157 CONTRACTOR 641071 EIIA 200 S WACKER DRIVE CHICAGO IL 60606 INSURANCE 380461 DATATEL 4375 FAIR LAKES COURT FAIRFAX VA 22033 COMPUTER SERVICES 366314 13 206357 1343346 5137014 890878 6686717 TUITION AND FEES 611600 28574038 28574038 SALES AND SERVICES AUXILIARY ENTERPRISES 611710 5431739 5431739 INCOME FROM FUNDS HELD IN TRUST BY OTHERS 900099 461742 461742 34467519 2896264 40332 2855932 7 7 0 71049 71049 71049 71049 4083883 475282 2556277 317078 1527606 158204 1685810 1685810 0 0 3614597 1806222 1808375 1808375 CENTRIKIDS CAMP 900099 598867 324902 273965 ASBESTOS SETTLEMENT 900099 22741 22741 COKE CONTRACT REVENUE 900099 5000 5000 45402 23286 22116 672010 48287751 36299180 387350 4914504 0 16476753 16476753 93290 93290 0 924530 227777 576292 120461 0 15637961 12877335 2080966 679660 561585 443902 91403 26280 1642229 1260566 381663 1080570 858984 170501 51085 0 32035 10972 21063 129873 129873 0 11917 11917 0 194512 120972 65540 8000 787554 572356 171240 43958 3258364 2561163 620584 76617 408357 54252 354105 0 2323463 2323463 1458375 1238987 135353 84035 0 600222 285946 314276 1346846 1346846 0 3692649 3692649 581533 581533 TELEPHONE 153934 17309 136625 POSTAGE 162660 69763 75217 17680 EQUIPMENT RENTAL & MAINT. 81213 61138 17302 2773 51640425 44594423 5923536 1122466 3110304 1961534 630511 833461 3457671 3370906 1201691 1037576 0 0 0 0 2359577 2200509 0 0 638555 572543 96317100 65046139 34559345 31270961 67797517 65476160 22789792 21491122 0 0 0 0 19262458 18308580 155807421 146523352 4021054 3746664 0 0 2042466 2200029 29926000 29148000 0 0 0 0 290962 262761 323367 144055 5152574 7565689 41756423 43067198 X 23615212 14715140 26319148 23369743 64116638 65371271 114050998 103456154 155807421 146523352 X -3352674 -7242170 X false true true X true true X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 97516055 1452986 -222652 2995451 2935151 92815787 82058260 2165345 18469943 2304709 2872784 97516055 73354213 1129261 12743174 3221296 1947092 82058260 91555006 3966083 -15834787 3096335 3235754 73354213 0.37000 0.53000 0.10000 true false 411185 411185 74561502 46296371 28265131 18780785 16996539 1784246 2563628 1753229 810399 31270961 PRIVATELY HELD STOCK 21491122 F 21491122 FUNDS HELD IN TRUST 12790463 INVESTMENT IN MILLSAPS DEV INC 3608596 CASH SURRENDER VALUE LIFE INS 1909521 18308580 0 LIABILITY FOR FINANCIAL INSTRUMENT 5515000 LIABILITY FOR ASSET RETIREMENT 257935 ADVANCE UNDER GOVERNMENT LOANS 1792754 7565689 Schedule D, Part V, LIne 4: The intended uses of the endowment are primarily student scholarships, faculty chairs, and salaries and academic departmental support. Schedule D, Part X, Line 2: Management has evaluated the College's income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3: THE POLICY IS PUBLICIZED THROUGH CATALOGS, THE WEBSITE, AND ANY PUBLICATIONS FOR ADMISSIONS. Schedule E, Part I, Line 6A: FUNDS PROVIDED BY THE UNITED STATES GOVERNMENT UNDER THE FEDERAL PERKINS STUDENT LOAN PROGRAMS ARE FOR REVOLVING LOANS TO QUALIFIED STUDENTS. THESE FUNDS ARE ULTIMATELY REFUNDABLE TO THE GOVERNMENT AND ARE INCLUDED IN LIABILITIES. true Central America and the Caribbean Program Services Study Abroad Prog 76304 East Asia and the Pacific Program Services Study Abroad Prog 24898 Europe (Including Iceland and Greenland) Program Services Study Abroad Prog 165059 South America Program Services Study Abroad Prog 23661 North America Program Services Study Abroad Prog 63715 North America Program Services Study Abroad Prog 91040 North America Program Services Academic Facilities 30738 North America Program Services Research 74395 Central America and the Caribbean Investments 2811102 North America Program Services Grants 93290 3454202 3454202 North America 84544 Wire 1 Scholarship North America 3 8746 Wire false false true false false false Schedule F, Part I, Line 2: PROCEDURES ARE IN PLACE FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE OF THE UNITED STATES. MILLSAPS SPONSORS THE ACTIVIITES OF KAXIL KIUIC, A MEXICAN NONPROFIT ORGANIZATION. KAXIL KIUIC IS DEDICATED TO PRESERVING THE ENVIRONMENT AND THE CULTURAL HERITAGE OF THE MAYA BY PROMOTING KNOWLEDGE THROUGH EDUCATIONAL PROGRAMS CENTERED AT HELEN MOYERS BIOCULTURAL RESERVE. MILLSAPS BUDGETS ANNUALLY FOR THE FUNDS PROVIDED TO KAXIL KIUIC AND MONITORS ADHERENCE TO THAT BUDGET. THE RESERVE DIRECTOR PROVIDES AN ACCOUNT OF THESE FUNDS TO THE RESERVE BOARD OF DIRECTORS. PROCEDURES AND CONDITIONS ARE DESIGNED TO INSURE THAT INDIVIDUALS RECEIVING DISBURSEMENTS ARE ADEQUATELY INVESTIGATED TO INSURE THAT THEY ARE QUALIFYING RECIPIENTS. STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BASED ON THE INSTITUTION'S ASSESSMENT OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. Schedule F, Part I, Line 3: MILLSAPS COLLEGE OWNS AN INTEREST IN PRIVATE ADVISORS STABLE VALUE FUND, LTD. AND POINTER OFFSHORE, LTD., HEDGE FUNDS DOMICILED IN THE CAYMAN ISLANDS. THE BOOK VALUE OF THESE INVESTMENTS AS OF 6/30/12 WAS $2,811,102 Schedule F, Part IV, Line 3: THE FILING REQUIREMENTS OF FORM 5471 WERE NOT MET BY MILLSAPS DURING THE FISCAL YEAR ENDED 6/30/2012 FOR ITS OWNERSHIP INTEREST IN A FOREIGN CORPORATION. THEREFORE, FORM 5471 WAS NOT FILED BY MILLSAPS. true Sponsored Scholarships 146 694817 Endowed Scholarships 189 1292703 Other Scholarships 948 13856921 SEOG 121 193943 MS Tuition Assistance Grant 255 181375 MS Eminent Scholars 78 183750 Critical Need Teachers Scholarship 1 13690 HELP State Grant 10 49554 William Winter Teachers Scholarships 3 10000 Schedule I, Part I, Line 2: Procedures and conditions are designed to insure that individuals receiving disbursements are adequately investigated to insure that they are qualifying recipients. Students receiving scholarships and fellowships are judged worthy based on the institution's assessment of academic achievement, financial need, and other similar standards. X X X true true X X X X X true false false false false false false false false Frances Lucas 0 0 0 0 249490 0 11931 0 0 0 261421 0 246541 Louise Burney 136047 0 0 0 2873 0 7013 0 7736 0 153669 0 Jesse Beeler 135084 0 0 0 36048 0 6438 0 7162 0 184732 0 Kimberly Burke 145931 0 0 0 4122 0 5879 0 25764 0 181696 0 Robert Pearigen 302760 0 0 0 47750 0 0 0 20964 0 371474 0 Robert McElvaine 130809 0 0 0 2359 0 6567 0 18564 0 158299 0 David Davis 96123 0 0 0 6030 0 5178 0 16164 0 123495 0 Schedule J, Part I, Line 1A: Discretionary Spending Account Robert Pearigen Housing Allowance Robert Pearigen Social Club Dues Robert Pearigen All benefits provided are included in the compensation of the recipient. Scheduel J, Part I, Line 4A: Former President, Frances Lucas, received a severance payment of $261,421 during 2011, which $246,541 of this amount was reported as deferred compensation on the 2009 Form 990. An agreement was entered into on April 23, 2009, in which Frances Lucas was to serve as President through June 30, 2010 and as a consultant from July 1, 2010 through June 30, 2013. The compensation for this period was treated as deferred compensation and reported on the 2009 Form 990. The amount of compensation paid each year is treated as a severance payment to Frances Lucas. MISSISSIPPI BUSINESS FINANCE CORP 640679132 2008-08-05 31000000 SEE PART VI false false false 1410000 0 31058702 0 0 0 265304 0 0 14174771 1346545 0 2011 true false true true false false false false 0.00000 0.00000 0.00000 true false true true COMPASS BANK 15. false false false 0 false false SCHEDULE K, PART II, LINE 3: 0 TOTAL PROCEEDS OF ISSUE REPORTED ON LINE 3 INCLUDES INVESTMENT EARNINGS OF $58,702. SCHEDULE K, PART I, LINE A, COLUMN (F) & FORM 990, PART X, LINE 20 0 X 22 890878 FMV 0 false true false Form 990, Page 6, Part VI, Section A, Line 4: The following amendments were made to the Bylaws of Millsaps College by the Board of Trustees in August 2011 and April 2012: * The college can have no members. All Corporate Powers shall be exercised by or under the authority of and the affairs of the college managed under the direction of the board of trustees. * Omitted Mandatory retirement or life trustee status at age 70. After age 70, a trustee may be appointed to life trustee status. * At least 7 trustees must be ordained ministers who are members of the MS Annual Conference of The United Methodist Church as well as the resident bishop. * Any member missing 3 consecutive meetings without explanation will be considered resigned from the Board. * Non-Trustee Committee Members may be excused from Particular Discussions by the committee chair. * Treasurer was removed from the list of officers of the board. * The board may establish other committees or modify the number of members or the duties of any committee. Trustees should normally serve 2 years on a committee before being considered for election to a different committee. No person should serve as chair of the same committee for more than 3 consecutive years, except in extraordinary circumstances. * The committee chair should designate a vice chair. * The institutional advancement committee should oversee all matters pertaining to the marketing, communications, and public relations activities of the college in connection with fund raising and off campus constituencies and publics. * Marketing and enrollment committee was renamed the admissions and financial aid committee. Additional duties of this committee are to oversee all matters pertaining to the marketing, communications, and public relations activities of the college in connection with student recruitment, admissions, financial aid and retention. * Audit committee should be financially literate; have a basic understanding of professional accounting standards and the role of independent auditors; and be cognizant of the regulation, financial structure, and operation of nonprofit education institutions. * Investment Committee members should be financially literate with knowledge of investment portfolio management, and should be cognizant of the regulation, financial structure, and opeartion of nonprofit education institutions. * The president, VP for Finance, board chair and board secretary or any one of them are empowered to execute official documents for the college. * The VP for Finance should manage the realty holdings of the college and act as custodian for mortgage loan documents to which the college is a party and may receive and disburse investment funds and may purchase, sell or otherwise dispose of investment securities pursuant to the directions of the investment committee. * President is elected by the board for a term designated by the board. * The executive Committee or subcommittee appointed by the chair will annualy review and evaluate the performance, compensation, benefits and other terms of the president's contract and should approve any changes to the contract. * Executive committee should have ongoing oversight of the strategic planning process. * The board chair will be a voting member of the executive committee * President (not the board) may appoint additional officers of the college as deemed necessary. * Chief Financial Officer now referred to as the vice president for finance. * Academic year no longer defined in bylaws as Septemeber 1 to August 31. * A trustee may be removed from the board by affirmative vote of 2/3 of the trustees present at any meeting of the board where there is a quorum for any reason deemed appropriate by the trustees only after the board has provided the trustee with a full and fair opportunity to contest before the executive committee. Form 990, Page 6, Part VI, Section B, Line 11B: The Form 990 is reviewed in detail by the audit committee prior to filing with the IRS. A copy of the Form 990 is then provided to the entire Board prior to filing with the IRS. Form 990, Page 6, Part VI, Section B, Line 12C: Board members and officers complete and file a written conflict of interest statement annually. These statements are maintained in the President's office. The Business Office reviews and reports all findings on the Form 990. If a conflict of interest exists, the board member does not vote on the specific issue. Form 990, Page 6, Part VI, Section B, Line 15A&B: Compensation for the President is reviewed and approved by the Compensation and Executive Committees of the Board. Compensation for other officers is approved by the President. Compensation for officers is determined from review of market comparisons and performance measurements with other similar universities. Form 990, Page 6, Part VI, Section C, Line 19: The organization's governing documents and conflict of interest policy are available to the public upon request. Form 990, Page 12, Part XI, Line 5: OTHER CHANGES IN FUND BALANCE: ELIMINATION OF MDI $1,862,564 INCREASE IN CASH SURRENDER VALUE 272,857 CHANGE IN VALUE IN SPLIT INTERESTS (574,136) UNREALIZED LOSSES (6,392,685) UNREALIZED LOSSES - SWAP (2,410,770) TOTAL - OTHER CHANGES IN FUND BALANCE ($7,242,170) Form 990 Page 1, Part I, Lines 21&22: Prior year amounts were adjusted to match the audited financial statements. Liabilities increased by $124,563 and Net Assets decreased by $124,563. Form 990, Page 11, Part X, Lines 17&28: Prior year amounts were adjusted to match the audited financial statements. Liabilities increased by $124,563 and Net Assets decreased by $124,563. Millco PO Box 150433 Jackson MS 39210 640511687 See Part VII MS 0 0 Millsaps Development Inc PO Box 150433 Jackson MS 39210 237210558 See Part VII MS 501(C)(2) true Millsaps Real Estate Holdings Inc PO Box 150433 Jackson MS 39210 640833283 See Part VII MS 501(C)(2) true Kaxil Kiuic AC Calle 10 NO 66 POR 7 Y 9 9713 Merida Yucatan MX SEE Part VII MX true Micas-Kiuic Venture AC Calle 10 No 66 por 7 y 9 Merida Yucatan MX See Part VII MX true false true true false false false false false false false false false false false false false false false Millsaps Development Inc b 75000 Capital Contrib Millsaps Development Inc c 206357 Net Earnings Schedule R, Part I, (1)(b): Millco is a 100% owned subsidiary of Millsaps College. It is currently inactive and had no transactions for the period of this return. Schedule R, Part II, Line (1)(B): Millsaps Development, Inc. - to develop certain of the College's real property as a source of revenue to the college. Schedule R, Part II, Line (2)(B): Millsaps Real Estate Holdings, Inc. is a 100% owned subsidiary of Millsaps College. It is currently inactive and had no transactions for the period of this return. Schedule R, Part II, Line (3)(B): Kaxil Kiuic, A.C. manages the Helen Moyers Biocultural Reserve located in the Bolonchen District of the Puuc Region of Yucatan, Mexico. The reserve is a living laboratory where research and education are carried out in an effort to not only acquire knowledge but help sustain the reserve's ecological and cultural resources. It is also a place designed to provide support to the neighboring Maya towns as they confront the challenges of sustaining their own culture and identity. Schedule R, Part II, Line (4)(B): Micas-Kiuic Venture, A.C. owns the 4,000-acre reserve in Mexico's Yucatan Peninsula where the Kaxil Kiuic Biocultural Reserve program is conducted. The reserve contains a wealth of archaeological sites important to the understanding of ancient and modern Maya culture. The Yucatan Program offers faculty and students a living laboratory where they study the relationships among disciplines as varied as biology, English, business, the environment, and archaeology. The Reserve - which demonstrates connections between economic development, environmental policy, and cultural preservation - has become a national model for interdisciplinary studies.