2013-05-14T15:27:38-04:00 2012-06-30 EBELHAR WHITEHEAD PLLC 100 WEST THIRD STREET SUITE 200 OWENSBORO KY 42303 990 2011-07-01 610458355 ASBURY COLLEGE % UNIVERSITY PERSONNEL ASBU 8598583511 1 MACKLEM DRIVE WILMORE KY 40390 CHARLIE D FISKEAUX 2013-05-14 true Joshua D Meyer CPA 2709262922 2011 2016-02-24 21:20:13Z ASBURY UNIVERSITY SANDRA C GRAY 1 MACKLEM DRIVE WILMORE KY 40390 45660963 false 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 18 18 1359 18 32144 -12577 4195625 4764788 35677952 36981954 979179 1129934 1174537 1173215 42027293 44049891 10332769 10759126 0 0 17769685 18493696 0 0 1361778 12381594 11927834 40484048 41180656 1543245 2869235 103094918 104088312 17122223 15721273 85972695 88367039 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 EXCELENCE 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. false false 35966338 10759126 36981954 ASBURY COLLEGE IS A CHRISTIAN LIBERAL ARTS COLLEGE. THE COLLEGE 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 THE TEACHER EDUCATION PROGRAM BY THE KENTUCKY DEPARTMENT OF EDUCATION. THE COLLEGE OPERATES A MAIN CAMPUS IN WILMORE, KENTUCKY AND A SATELLITE CAMPUS IN ORLANDO, FLORIDA, PROVIDING EDUCATION TO APPROXIMATELY 1,600 STUDENTS. 35966338 true true false false false false false true false true true false false false true true true false true false false false false false false false false false true true true false false false false false false false false false false true true false false false false false false false false true 2347 0 true 1359 true true true false false false false false false false false false X 18 18 false false false false false false false true true false false false true true true true true true true false KY OR X UNIVERSITY PERSONNEL 8598583511 1 MACKLEM DRIVE WILMORE KY 40390 X C E CROUSE JR 4.0 X X 0 0 0 DAVID L STEVENS 4.0 X X 0 0 0 RONALD W TARRANT 4.0 X X 0 0 0 RONALD BALL 2.0 X 0 0 0 CHRISTOPHER BOUNDS 2.0 X 0 0 0 MELVIN BOWDAN JR 2.0 X 0 0 0 DAVID L BRAZELTON 2.0 X 0 0 0 KAY BURRUS HAYDEN 2.0 X 0 0 0 HAROLD L HEINER JR 2.0 X 0 0 0 MORRIS HINTZMAN 2.0 X 0 0 0 SHERRY W POWERS 2.0 X 0 0 0 MARK H WHITWORTH 2.0 X 0 0 0 ROBERT F WILEY JR 2.0 X 0 0 0 RICH M WRIGHT 2.0 X 0 0 0 LARRY D BROWN 2.0 X 0 0 0 GREGORY ISAACS 2.0 X 0 0 0 NATHAN MOWERY 2.0 X 0 0 0 DEBORAH WEIDENHAMER 2.0 X 0 0 0 SANDRA C GRAY 40.0 X 171784 19457 CHARLIE D FISKEAUX 40.0 X 107343 15383 JONATHAN S KULAGA 40.0 X 111352 15911 R GREGORY SWANSON 40.0 X 103832 28827 MARK J TROYER 40.0 X 80151 57409 GLENN HAMILTON 40.0 X 82776 13496 DOUG WILCOXSON 40.0 X 0 0 0 657238 0 150483 4 false true false PIONEER COLLEGE CATERERS 12351 WEST 96TH TERRACE STE 204 LENEXA KS 66215 FOOD SERVICE 1800996 WOODFORD BUILDERS INC PO BOX 12977 LEXINGTON KY 40583 CONSTRUCTION 1251213 RON ELDRIDGE EXCAVATING INC 1337 SOUTH MAIN STREET NICHOLASVILLE KY 40356 CONSTRUCTION 287511 KNOWLEDGE ELEMENTS 277 MALLORY STATION ROAD SUITE 102 FRANKLIN TN 37067 CONSULTING 224741 INTERIOR DESIGN ARCHITECTURE INC 1700 S 5TH STREET LOUISVILLE KY 40208 ARCHITECT 163324 11 4764788 77020 4764788 TUITION & FEES 611600 31412536 31412536 AUXILIARY INCOME 611710 5569418 5569418 36981954 909893 -6430 916323 0 0 254513 101225 153288 153288 153288 1197941 92617 982982 87535 214959 5082 220041 220041 0 0 566879 439330 127549 127549 CONTRACTS & OTHER EXCHANGE TRANSACTIONS 900099 709802 709802 LUCE CENTER 713940 38574 38574 POST RETIREMENT BENEFIT OBLIGATIONS 900099 144002 144002 892378 44049891 37819305 32144 1433654 0 10759126 10759126 0 0 684281 684281 0 13687286 11275786 1569224 842276 626928 492857 97942 36129 2519404 1943800 420491 155113 975797 758666 158619 58512 374049 359949 14100 41069 41069 78736 78736 0 0 0 0 510104 325758 184346 223018 100862 65959 56197 73363 51204 17835 4324 0 2443775 2327219 115564 992 480653 369693 41958 69002 0 50068 13704 4381 31983 819577 819577 0 2996444 2938789 57655 336368 277012 59356 CAFETERIA 1664893 1664893 ACADEMIC & PUBLIC SUPPORT 457970 457970 STUDENT SERVICES 446359 433975 12384 ATHLETICS 218536 218536 712852 376962 228640 107250 41180656 35966338 3852540 1361778 4485730 3090188 2010597 1833772 1124932 1892475 748537 679922 0 0 0 0 2519735 2563358 357821 315161 77264 75497 101735447 47269724 53150666 54465723 31373140 31772577 3262366 3665717 0 0 0 0 3984130 3733922 103094918 104088312 1823895 1571518 0 0 0 0 8932858 8171479 0 0 0 0 1912228 1678084 0 0 4453242 4300192 17122223 15721273 X 51317480 53946093 6981910 6448918 27673305 27972028 85972695 88367039 103094918 104088312 X 2869235 -474891 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 94121 X X X false 38002764 671639 507295 1485229 37696469 33329711 428999 5163608 919554 38002764 31323028 536442 2592415 1122174 33329711 37981608 1430144 -7437469 651255 31323028 0.20650 0.74210 0.05140 false false 820396 1801158 2621554 1798274 71316090 29254889 43859475 4557609 2390658 2166951 19921946 15624177 4297769 1519974 1519974 54465723 0 ANNUITIES PAYABLE 1972418 REFUNDABLE US GOVT STUDENT LOAN FUNDS 1649944 STUDENT FEES COLLECTED IN ADVANCE 117980 DEPOSITS HELD IN CUSTODY FOR OTHERS 310846 HEALTH PLAN RESERVE 143126 HOUSING & KEY DEPOSITS 13878 POSTRETIREMENT BENEFITS 92000 4300192 44049891 41180656 2869235 -347374 -127517 -474891 2394344 33389206 -347374 445815 98441 33290765 10759126 10759126 44049891 30994862 573332 573332 30421530 10759126 10759126 41180656 INTENDED USE OF ENDOWMENT FUNDS SCHEDULE D, 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. ART COLLECTION SCHEDULE D, PART III, LINE 4 ARTWORK IS DISPLAYED FOR ENRICHMENT OF EDUCATIONAL EXPERIENCE. RECONCILIATION TO AUDIT REPORT - NET ASSETS SCHEDULE D, PART XI, LINE 8 OTHER CHANGES IN NET ASSETS CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT (134,002) CHANGE IN BENEFICIAL INTERESTS IN TRUSTS 6,485 RECONCILIATION TO AUDIT REPORT - REVENUES SCHEDULE D, PART XII, LINES 2D AND 4B OTHER REVENUE ON BOOKS NOT ON RETURN COST OF GOODS SOLD 439,330 CHANGE IN VALUE OF BENEFICIAL INTERESTS 6,485 OTHER REVENUE ON RETURN NOT ON BOOKS STUDENT AID DISCOUNTS 10,759,126 RECONCILIATION TO AUDIT REPORT - EXPENSES SCHEDULE D, PART XIII, LINES 2D AND 4B OTHER EXPENSES ON BOOKS NOT ON RETURN COST OF GOODS SOLD 439,330 CHANGE IN VALUE OF SPIT INTEREST AGREEMENT 134,002 OTHER EXPENSES ON RETURN NOT ON BOOKS STUDENT AID DISCOUNTS 10,759,126 Schedule D, Part X, Line 2 Schedule D, Part X, Line 2 FIN 48 Footnote THE UNIVERSITY IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 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 US FEDERAL JURISDICTION. WITH A FEW EXCEPTIONS, THE UNIVERSITY IS NO LONGER SUBJECT TO US FEDERAL EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2008. true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 BULLETIN AND SOLICITATION MATERIALS HAVE STATEMENTS REGARDING NONDISCRIMINATION. FINANCIAL AID SCHEDULE E, PART 1, LINE 6A THE ORGANIZATION RECEIVES FINANCIAL AID FOR STUDENTS FROM THE US DEPARTMENT OF EDUCATION. true STUDENT AID DISCOUNTS 3000 10759126 MONITORING THE USE OF GRANT FUNDS SCHEDULE I, PART I, LINE 2 STUDENTS RECEIVING SCHOLARSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSYENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. X X true true X X false false false false false false false false false SANDRA C GRAY 166871 4913 19457 191241 BENEFITS SCHEDULE J, 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. CITY OF WILMORE KY 616001932 2009-12-18 9000000 CONSTRUCTION OF CAMPUS FACILITIES false false false 828521 0 9000000 0 0 0 0 0 0 9000000 0 0 2010 false false true true false false false false 0.00000 0.00000 0.00000 true false false false 0 false 0 false X FAZZIOLI GRAND PIANO 1 72000 APPRAISAL X FURNITURE 1 5020 APPRAISAL 2 false true false PROCESS TO REVIEW FORM 990 FORM 990, PART VI, SECTION B, LINE 11b 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. MONITORING THE CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12c EACH TRUSTEE IS 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. PROCESS FOR DETERMINING COMPENSATION 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. MAKING FORMS AVAILABLE TO THE PUBLIC 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. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 5 UNREALIZED GAINS/(LOSSES) ON INVESTMENTS (347,374) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (134,002) CHANGE IN BENEFICIAL INTERESTS IN TRUSTS 6,485