2013-03-07T11:48:41-06:00 2012-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2011-06-01 470376551 MIDLAND UNIVERSITY MIDL 4027215480 900 NORTH CLARKSON STREET FREMONT NE 68025 JODI BENJAMIN 4029416142 2013-02-20 1 LAWRENCE H MOHR CPA P00447603 6128764500 2011 2016-02-25 16:41:14Z JODI BENJAMIN 900 NORTH CLARKSON STREET FREMONT NE 68025 40987769 0 X WWW.MIDLANDU.EDU X 1883 NE MIDLAND UNIVERSITY INSPIRES PEOPLE TO LEARN AND LEAD IN THE WORLD WITH PURPOSE. WE ARE A LIBERAL ARTS COLLEGE OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA. THE COLLEGE HOLDS THE FOLLOWING CORE VALUES TO BE THE FOUNDATION OF OUR IDENTITY AS A COMMUNITY: FAITH, LEARNING, QUALITY, RESPECT, AND STEWARDSHIP. 11 10 670 100 0 0 2522875 8785946 26185356 26766649 555589 250651 -7022 1742463 29256798 37545709 13821737 12590593 0 0 9336941 9843356 0 0 333887 9361966 8817140 32520644 31251089 -3263846 6294620 48531149 52014790 27997565 25249537 20533584 26765253 MIDLAND UNIVERSITY INSPIRES PEOPLE TO LEARN AND LEAD IN THE WORLD WITH PURPOSE. 0 0 17467946 12590593 23102251 INSTRUCTION MIDLAND UNIVERSITY OFFERS MULTIPLE DEGREES INCLUDING BACHELORS DEGREES IN BUSINESS, EDUCATION AND NURSING, AS WELL AS A MASTERS IN ACCOUNTING AND EDUCATION. THE 2011-2012 ENROLLMENT WAS 26 NON TRADITIONAL UNDERGRADUATE STUDENTS, 920 TRADITIONAL STUDENTS IN THE FALL, 28 NON-TRADITIONAL AND 865 TRADITIONAL STUDENTS IN THE SPRING, AND 31 GRADUATE STUDENTS. 5511431 498903 ACADEMIC SUPPORT ACADEMIC SUPPORT INCLUDES THE LIBRARY, ADMISSIONS, FINANCIAL AID, INFORMATION TECHNOLOGY AND THOSE FUNCTIONS THAT DIRECTLY SUPPORT INSTRUCTION. 3363420 3165495 AUXILIARY ENTERPRISESAUXILIARY ENTERPRISES AT MIDLAND UNIVERSITY ARE COMPRISED OF 7 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING FACILITY, AND A BOOKSTORE FOR FACULTY, STAFF AND STUDENTS. 599 STUDENTS RESIDED IN STUDENT HOUSING DURING FALL 2011 AND 557 STUDENTS DURING SPRING 2012. 26342797 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 68 0 1 670 1 0 0 0 0 0 1 1 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JODI BENJAMIN 4029416102 900 NORTH CLARKSON STREET FREMONT NE 68025 BEN SASSE 40.00 X X 208680 0 20168 MILO ANDERSON 1.00 X 0 0 0 PATRICK BOOTH 1.00 X 0 0 0 DAVID DEFREESE 1.00 X 0 0 0 MELODY DENSON 1.00 X 0 0 0 ROGER LAMBORN 1.00 X 0 0 0 DEREK LEWIS 1.00 X 0 0 0 GARY PERKINS 1.00 X 0 0 0 STEVE PRIBNOW 1.00 X 0 0 0 GRETCHEN RITOLA 1.00 X 0 0 0 RICK SPALDING 1.00 X 0 0 0 JODI BENJAMIN 40.00 X 124612 0 17041 HENRY SMORYNSKI 40.00 X 128738 0 10185 GREG FRITZ 40.00 X 86737 0 17832 STEVEN BULLOCK 40.00 X 134347 0 14377 ELIZA FERZELY 40.00 X 95977 0 5514 779091 0 85117 4 0 1 0 SODEXHO 731 21ST AVENUE SOUTH MINNEAPOLIS MN 55454 FOOD AND CUSTODIAL SERVICES 1753172 1 9690 496816 8279440 23801 8785946 TUITION AND FEES 611710 23102251 23102251 AUXILIARY ENTERPRISES 611710 3165495 3165495 CONFERENCES 611710 136624 136624 OTHER REVENUES 611710 133461 133461 SUMMER FINE ARTS 611710 113688 113688 115130 115130 26766649 91310 91310 5220 5662 -442 -442 -442 3582054 3422713 159341 159341 159341 13500 9690 13685 -185 -185 LOAN FORGIVENESS INCOM 900099 1743090 1743090 1743090 37545709 26766649 0 1993114 12590593 12590593 777385 572489 190427 14469 6955602 5122305 1703836 129461 129414 95304 31701 2409 1484704 1093379 363691 27634 496251 365454 121561 9236 51727 38093 12671 963 58214 42870 14260 1084 21657 15949 5305 403 270582 199265 66281 5036 262827 193553 64382 4892 529618 393180 130785 5653 354611 261146 86865 6600 1023374 757956 252119 13299 123265 90776 30195 2294 1128793 831275 276508 21010 1214140 894128 297414 22598 277119 204078 67883 5158 FOOD SERVICE 1021894 755161 251190 15543 ATHLETICS 809046 595805 198183 15058 BUILDING GROUNDS MAINTE 706160 520037 172980 13143 INSTRUCTION 372617 274406 91276 6935 591496 435595 144892 11009 31251089 26342797 4574405 333887 646467 4350620 312709 4335605 328200 280284 3678958 3872014 17051 17716 43983125 17344256 27383366 26638869 11187467 6332591 464466 0 4512465 6187091 48531149 52014790 1986575 1991875 2564384 2499059 498944 394271 18040000 17515000 4294034 1814210 362972 613628 672150 27997565 25249537 X 4163988 8824294 2450623 2465134 13918973 15475825 20533584 26765253 48531149 52014790 X 6294620 -62951 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 3052 0 0 0 3052 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE UNIVERSITY IS A MEMBER OF THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF NEBRASKA (AICUN) AND NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (NAICU). A PORTION OF THE MEMBER DUES PAID BY THE UNIVERSITY TO THESE ASSOCIATIONS WERE CONSIDERED USED FOR LOBBYING PURPOSES. 14550680 169770 -110278 -47979 14658151 12300319 237746 1850034 -162581 14550680 12726196 449736 2120696 772119 2224190 12300319 16441968 1022445 -3680853 1057364 12726196 0.04000 0.85000 0.11000 0 0 3087177 3087177 136613 35208033 12563850 22780796 5551302 4780406 770896 26638869 CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 475823 DEFERRED DEBT ACQUISITION COSTS 332578 BENEFICIAL INTEREST IN TRUST 3479342 DEPOSITS HELD BY TRUSTEES 1802448 ACCRUED INTEREST AND MISCELLANEOUS 96900 6187091 ANNUITIES PAYABLE 232223 ASSET RETIREMENT OBLIGATION 385900 CAPITAL LEASE OBLIGATIONS 54027 672150 37545709 31251089 6294620 -252030 189079 -62951 6231669 24906738 -252030 14933 208426 -28671 24935409 19707 12590593 12610300 37545709 18675069 14933 19347 34280 18640789 19707 12590593 12610300 31251089 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: MIDLAND UNIVERSITY'S ENDOWMENT FUND IS USED TO SUPPORT STUDENTS WITH SCHOLARSHIP FUNDS AND VARIOUS OTHER INSTRUCTIONAL PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2012 AND 2011. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR 2009 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN TRUSTS 312,996. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE -41,640. LOSS ON CONTRIBUTIONS & OTHER RECEIVABLES -82,277. TOTAL TO SCHEDULE D, PART XI, LINE 8: 189,079. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN TRUSTS 312,996. DIRECT RENTAL EXPENSES 5,662. DIRECT FUNDRAISING EXPENSES 13,685. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE -41,640. LOSS ON CONTRIBUTIONS & OTHER RECEIVABLES -82,277. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 12,590,593. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 5,662. DIRECT FUNDRAISING EXPENSES 13,685. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 12,590,593. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS INCLUDED IN THE STUDENT HANDBOOK, THE ACADEMIC CATALOG AND ON THE COLLEGE'S WEBSITE; ALL OF WHICH ARE AVAILABLE TO THE COLLEGE COMMUNITY. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES SUPPORT FROM THE STATE AND FROM THE UNITED STATES GOVERNMENT IN CONNECTION WITH STUDENT AID PROGRAMS SUCH AS FEDERAL WORK-STUDY PROGRAMS, PELL GRANTS, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND PERKINS LOAN FUNDS. THE COLLEGE ALSO RECEIVES VARIOUS OTHER FEDERAL AND STATE EDUCATIONAL AND RESEARCH GRANTS OR SUBSIDIES. MLC GOLF CLASSIC 23190 9690 13500 3959 5858 3543 325 23190 9690 13500 3959 5858 3543 325 13685 -185 1 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS- SEE COLLEGE FOR DETAILED LIST 1082 12590593 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: MIDLAND UNIVERSITY OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT-OF-POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. X 0 0 X X X 0 0 0 0 0 0 0 0 0 BEN SASSE 208403 0 0 0 277 0 0 0 20168 0 228848 0 0 0 PART I, LINE 1A HEALTH CLUB BENEFITS ARE PROVIDED TO ALL EMPLOYEES. PART I, LINE 1B MIDLAND UNIVERSITY DOESN'T HAVE A REIMBURSEMENT POLICY REGARDING THE HEALTH CLUB BENEFIT DUE TO THE FACT THAT THIS ISN'T A REIMBURSABLE EXPENSE, BUT RATHER AN EMPLOYEE BENEFIT PROVIDED TO ALL OF OUR EMPLOYEES. NEBRASKA EDUCATIONAL FINANCE AUTHORITY 521293953 63966PKC7 2003-05-07 6297928 CAPITAL IMPROVEMENTS 0 0 0 NEBRASKA EDUCATIONAL FINANCE AUTHORITY 521293953 63966PNK6 2004-12-16 10337393 CAPITAL IMPROVEMENTS 0 0 0 35000 6353457 630157 24908 125812 5572580 2004 0 0 1 1 1275000 10727519 797640 46175 195270 9688434 2006 0 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 MBIA INC 26.400000000000 1 0 1 0 0 0 1 SEE PART V 1 1 0 PART II, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO THE INVESTMENT EARNINGS. PART IV, COLUMN B, LINE 4B - CONSTRUCTION FUND - MORGAN STANLEY FLEXIBLE AGREEMENTS INC.; RESERVE FUND - MORGAN STANLEY FLEXIBLE AGREEMENTS, INC. PART IV, COLUMN B, LINE 4C - CONSTRUCTION FUND - 2.0 YEARS; RESERVE FUND - 24.8 YEARS. FIRST STATE BANK FORMER TRUSTEES ARE OFFICERS OF THE BANK 188910 DURING 2009, MIDLAND UNIVERSITY (FORMERLY KNOWN AS MIDLAND LUTHERAN COLLEGE) REFINANCED A NOTE PAYABLE THROUGH FIRST STATE BANK AND TRUST. RON KRANZ, FORMER TRUSTEE AT MIDLAND UNIVERSITY WAS THE PRESIDENT AT FIRST STATE BANK AND TRUST. DOUG HEIM, FORMER TRUSTEE AT MIDLAND UNIVERSITY, WAS THE PRESIDENT AT AMERICAN NATIONAL BANK, WHO PARTNERED WITH FIRST STATE BANK AND TRUST. THE OUTSTANDING BALANCE OF THE NOTE PAYABLE IS $1,814,210 AS OF JUNE 30, 2012. MIDLAND UNIVERSITY PAID FIRST STATE BANK AND TRUST $188,910 IN INTEREST RELATED TO THIS NOTE. THE TRANSACTION WAS CONSUMMATED IN AN ARM'S LENGTH TRANSACTION AND OCCURRED IN THE ORDINARY COURSE OF BUSINESS. 0 FIRST STATE BANK FORMER TRUSTEES ARE OFFICERS OF THE BANK 1743090 RON KRANZ, A FORMER TRUSTEE OF MINDALND UNIVERSITY, WAS THE PRESIDENT OF FIRST STATE BANK. DOUGH HEIM, A FORMER TRUSTEE OF MIDLAND UNIVERSITY, WAS THE PRESIDENT OF AMERICAN NATIONAL BANK, WHO PARTNERED WITH FIRST STATE BANK. FIRST STATE BANK FORGAVE A PORTION OF THE OUTSTANDING LOAN PAYABLE. 0 X 1 6845 DONOR ESTIMATE X 1 14250 FAIR MARKET VALUE X 1 2706 FAIR MARKET VALUE 0 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBERS IN PART I, COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PROVIDED TO AND REVIEWED BY THE BOARD OF DIRECTORS BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES IS ASKED TO SIGN A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 BOARD APPROVES THE PRESIDENTIAL COMPENSATION, EMPLOYMENT CONTRACTS AND ALL ANNUAL SALARY INCREASES. THE PRESIDENT AND VP OF FINANCE & ADMIN. APPROVES THE SALARIES OF ALL OTHER OTHER EMPLOYEES. THE BOARD IS INFORMED OF MANAGEMENT'S SALARY WHEN THERE IS A NEW HIRE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST IF DEEMED REASONABLE BY THE INSTITUTION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -252,030. CHANGE IN BENEFICIAL INTEREST IN TRUSTS 312,996. ACTUARIAL ADJUSTMENT ON ANNUITIES PAYABLE -41,640. LOSS ON CONTRIBUTIONS & OTHER RECEIVABLES -82,277. TOTAL TO FORM 990, PART XI, LINE 5: -62,951. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS DID NOT CHANGE FROM THE PRIOR YEAR. COUNTY OF DODGE HEAD START 900 N CLARKSON ST FREMONT NE 68025 470493797 EDUCATION TO PRESCHOOL CHILDREN NE 501C(3) LINE 7 N/A 0 CHARITABLE REMAINDER UNITRUSTS (2) CHARITABLE TRUSTS NE T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 COUNTY OF DODGE HEAD START P 12500 BOOK COST/EXPENSE