2013-09-15T10:21:38-05:00 2013-06-30 620647474 BLACKBURN CHILDERS & STEAGALL PLC 801B SUNSET DRIVE JOHNSON CITY TN 376043033 990 2012-07-01 561065978 MID-ATLANTIC CHRISTIAN UNIVERSITY MID- 2523342007 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 KURTIS L KIGHT 2523342007 2013-09-12 1 THOMAS S GREER P00067526 4232824511 2013-09-11 2012 2016-02-24 21:20:13Z KURTIS L KIGHT 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 4758487 0 X WWW.MACUNIVERSITY.EDU X 1948 NC MID-ATLANTIC CHRISTIAN UNIVERSITY IS AN UNDERGRADUATE INSTITUTION OF CHRISTIAN HIGHER EDUCATION WHOSE MISSION IS TO IMPACT THE WORLD BY TRANSFORMING ORDINARY PEOPLE INTO EXTRAORDINARY CHRISTIAN LEADERS. 19 18 122 5 0 0 1090036 2531223 1946514 2217573 541 9691 0 0 3037091 4758487 384733 438246 0 0 400215 407514 0 0 95222 3016407 3330083 3801355 4175843 -764264 582644 3583376 3609824 1726177 1169981 1857199 2439843 MID-ATLANTIC CHRISTIAN UNIVERSITY IS AN UNDERGRADUATE INSTITUTION OF CHRISTIAN HIGHER EDUCATION WHOSE MISSION IS TO IMPACT THE WORLD BY TRANSFORMING ORDINARY PEOPLE INTO EXTRAORDINARY CHRISTIAN LEADERS. 0 0 2161684 438246 1463469 OPERATION OF UNIVERSITY GRANTING BOTH TWO AND FOUR YEAR DEGREES. 2161684 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 261 0 1 122 1 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X KURTIS L KIGHT VP FOR FINANCE 2523342007 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 GENE M LANGLEY 2.00 X X 0 0 0 WYETT H COLCLASURE II 2.00 X X 0 0 0 CAPRICE J HAIRSTON 2.00 X X 0 0 0 DENISE M MOULDEN 2.00 X X 0 0 0 BENJAMIN H ALLEN 2.00 X 0 0 0 JAMES A BENNETT 2.00 X 0 0 0 ROGER A BRADY 2.00 X 0 0 0 LARRY D COOPER 2.00 X 0 0 0 ROYCE E EVERETTE 2.00 X 0 0 0 GREGORY D HAND 2.00 X 0 0 0 DAVE HILEMAN 2.00 X 0 0 0 PETER L KUNKLE 2.00 X 0 0 0 EDWIN R LOWEN 2.00 X 0 0 0 JOHN W MAURICE JR 2.00 X 0 0 0 WILLIAM C MCCRACKEN 2.00 X 0 0 0 DAVE MILAM 2.00 X 0 0 0 CURT W NORDHIELM 2.00 X 0 0 0 JEAN F PRUETT 2.00 X 0 0 0 JONITA SHOAFF 2.00 X 0 0 0 W KEITH TANKARD 2.00 X 0 0 0 M SCOTT ASKEW 2.00 X 0 0 0 W KEITH WOOD 2.00 X 0 0 0 D CLAY PERKINS 40.00 X 66651 0 43255 KURTIS L KIGHT 40.00 X 59736 0 15480 KEVIN W LARSEN 40.00 X 60639 0 23955 KENDALL S GREENE 40.00 X 23452 0 49483 W KEITH WOOD 40.00 X 41377 0 26011 251855 0 158184 0 0 0 0 THOMPSON HOSPITALITY 1704 WEEKSVILLE ROAD ELIZABETH CITY NC 27909 FOOD SERVICE PROVIDER 289769 1 92282 2438941 1007947 2531223 TUITION AND FEES 611710 1450497 1450497 AUXILIARY ENTERPRISES 611710 731035 731035 OTHER INCOME 611710 23069 23069 WRITE-OFF OF RECEIVABL 611710 12972 12972 2217573 9691 9691 4758487 1463469 0 763795 124686 124686 313560 313560 407514 160994 209329 37191 83969 26562 57407 64092 64092 233528 73871 159657 AUXILIARY ENTERPRISES 744423 744423 INSTITUTIONAL SUPPORT 742060 684029 58031 INSTRUCTION 613094 613094 STUDENT SERVICES 540094 540094 308823 308823 4175843 2161684 1918937 95222 10462 140148 393278 293054 28350 21253 8347668 5385207 2952884 2962461 98080 93604 100322 99304 3583376 3609824 103665 171079 16949 23788 1600000 975114 5563 0 1726177 1169981 X 1709812 2360261 145387 77582 2000 2000 1857199 2439843 3583376 3609824 582644 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2265520 445371 152520 -92282 2771129 2576428 81016 -302037 -89887 2265520 2305812 181157 174159 -84700 2576428 2044893 114065 232306 -85452 2305812 2396828 66789 -272122 -146602 2044893 0.00000 0.99760 0.00240 0 0 181108 181108 6338749 3810743 2528006 1827811 1574464 253347 2962461 X 4847695 495050 495050 4352645 405842 405842 4758487 3759443 21846 21846 3737597 438246 438246 4175843 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PERMANENTLY RESTRICTED NET ASSETS ("ENDOWMENTS") ARE COMPOSED OF FUNDS RESTRICTED FOR SCHOLARSHIPS, FACULTY SCHOLARSHIPS, MISSIONS AND GENERAL USE. THE ENDOWMENTS REPRESENT FUNDS RECEIVED WITH DONOR IMPOSED STIPULATIONS THAT THEY BE MAINTAINED IN PERPETUITY BY THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: NOTE 15 - UNCERTAIN TAXES THE UNIVERSITY FOLLOWS FASB ASC, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2013, THE UNIVERSITY HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. THE UNIVERSITY'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE CONSOLIDATED FINANCIAL STATEMENTS. NO INTEREST OR PENALTIES WERE RECORDED DURING THE YEAR ENDED JUNE 30, 2013. GENERALLY, THE TAX YEARS BEFORE 2009 ARE NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. 495,050. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS OFFSETTING STUDENT TUITION AND FEES 313,560. GRANT FROM MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. 92,282. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. 21,846. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS OFFSETTING STUDENT TUITION AND FEES 313,560. GRANT TO MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. ENDOWMENT 124,686. 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 THE POLICY IS PUBLISHED IN THE UNIVERSITY CATALOG, NEWSLETTERS, THE MID-ATLANTIC CHRISTIAN UNIVERSITY WEBSITE, ADMISSIONS, STUDENT APPLICATIONS, EMPLOYMENT APPLICATIONS, AND SOLICITATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 MID-ATLANTIC CHRISTIAN UNIVERSITY PARTICIPATES IN THE TITLE IV STUDENT FINANCIAL AID PROGRAMS OF THE UNITED STATES DEPARTMENT OF EDUCATION. THE UNIVERSITY ALSO RECEIVES ASSISTANCE FROM THE NORTH CAROLINA STATE LOTTERY. 1 MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION INC 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 561467140 501(C)(3) 124686 0 BOOK - CASH PAID N/A FOR MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION, INC. ENDOWMENT FUND 1 1 CASH SCHOLARSHIPS FOR STUDENTS ATTENDING MID-ATLANTIC CHRISTIAN UNIVERSITY IN PASQUOTANK COUNTY, NORTH CAROLINA 125 313560 0 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE UNIVERSITY DOES NOT GIVE ANY NON-CASH SCHOLARSHIPS. SCHOLARSHIPS ARE DISBURSED TO STUDENTS THROUGH CREDITING THEIR STUDENT ACCOUNTS. IF THE STUDENT HAS EXCESS SCHOLARSHIP FUNDS AS THE RESULT OF TITLE IV AID, THEN THESE FUNDS ARE AUTOMATICALLY DISBURSED TO THE STUDENT BY CHECK WITHIN FOURTEEN DAYS. IF THE EXCESS FUNDS ARE THE RESULT OF SOMETHING OTHER THAN TITLE IV AID, THE STUDENT MUST REQUEST A REFUND AND THESE FUNDS ARE DISBURSED TO THE STUDENT BY CHECK. THE UNIVERSITY'S PROCEDURES FOR MONITORING GRANT FUNDS IN THE U.S. ARE AS FOLLOWS: THE UNIVERSITY HAS APPOINTED DIRECTORS, WHO REPORT TO THE APPROPRIATE VICE PRESIDENTS OVER ALL FEDERAL GRANT PROGRAMS. THESE DIRECTORS ARE CHARGED WITH PERFORMING ALL GRANT-RELATED ACTIVITIES INCLUDING APPLICATION, MONITORING OF EXPENDITURES AND REPORTING, WITH THE EXCEPTION OF DRAW-DOWNS OF FEDERAL FUNDS. DRAW-DOWNS ARE PERFORMED BY THE UNIVERSITY'S CONTROLLER AFTER REQUESTS ARE MADE BY THE DIRECTOR TO THE CONTROLLER. THE CONTROLLER REVIEWS THE REQUESTS FOR DRAW-DOWNS, WHICH INCLUDE DOCUMENTATION OF ALL DIRECT AND INDIRECT PROGRAM EXPENSES, BEFORE MAKING THE DRAW-DOWNS. A SINGLE AUDIT IS PERFORMED ANNUALLY BY THE UNIVERSITY'S INDEPENDENT AUDITORS. X 3 1007947 CLOSING STOCK PRICES 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE UNIVERSITY'S FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE INTERNAL REVENUE SERVICE, WAS PROVIDED TO EACH PERSON WHO WAS A VOTING MEMBER OF THE GOVERNING BODY AT THE TIME THE FORM 990 WAS PROVIDED, WHETHER IN PAPER OR ELECTRONIC FORM, BEFORE ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THIS IS REVIEWED ANNUALLY AT THE MEETING OF THE FINANCE COMMITTEE AND OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE POLICY ON THE PROCESS FOR DETERMINING COMPENSATION OF ANY EMPLOYEE MAKING OVER $100,000 OR THE HIGHEST PAID EMPLOYEE APPROACHING THAT AMOUNT, APPLIES TO THE COMPENSATION OF THE FOLLOWING PERSON(S) EMPLOYED BY MID-ATLANTIC CHRISTIAN UNIVERSITY: THE CHIEF EMPLOYED EXECUTIVE. AS OF THIS TIME, THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES RECEIVING COMPENSATION AT THAT LEVEL. THE PROCESS INCLUDES ALL OF THESE ELEMENTS: 1. REVIEW AND APPROVAL. THE COMPENSATION OF THE PERSON(S) IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OR EXECUTIVE COMMITTEE OF THE UNIVERSITY, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION OF THE PERSON(S) IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. 3. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THIS IS ACCOMPLISHED BY HAVING THE PUBLIC CONTACT THE CHIEF FINANCIAL OFFICER. OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING THE FINANCE COMMITTEE AND THE AUDIT COMMITTEE ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT, AND THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION INC 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 561467140 MAKING GRANTS TO MID-ATLANTIC CHRISTIAN UNIVERSITY FOR SCHOLARSHIP FUNDING NC 501(C)(3) LINE 7 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MID-ATLANTIC CHRISTIAN UNIVERSITY C 92282 CASH PAID FOUNDATION INC GAVE MID-ATLANTIC CHRISTIAN UNIVERSITY GRANTS FOR FUNDING STUDENT AND FACULTY SCHOLAR- SHIPS AND FOR INSTITUTIONAL OPERA- TIONS (GENERAL FUND LIBRARY ETC) MID-ATLANTIC CHRISTIAN UNIVERSITY B 124686 CASH PAID GAVE MID-ATLANTIC CHRISTIAN UNIVER- SITY FOUNDATION INC A GRANT FOR THE ENDOWMENT FUND