2012-05-11T13:29:27-05:00 2011-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2010-07-01 580566167 THE CORPORATION OF MERCER UNIVERSITY CORP 4573012710 1400 COLEMAN AVENUE MACON GA 31207 DR JAMES S NETHERTON 2012-05-11 3362753394 2010 2016-02-24 21:20:13Z William D Underwood 1400 COLEMAN AVENUE MACON GA 31207 277252559 false X www.mercer.edu X 1833 GA Mercer University is a faith based institution of higher learning that seeks to achieve excellence and scholarly discipline in the fields of liberal learning and professional knowledge. 49 48 3642 543 -26158 -29908 60061112 67360685 184943918 196567618 5038231 1259709 5589079 5151463 255632340 270339475 51198269 53506630 0 0 130342434 134317371 0 0 2383798 73641977 74493004 255182680 262317005 449660 8022470 425651235 467126295 202973627 196480008 222677608 270646287 X MERCER UNIVERSITY IS A FAITH BASED INSTITUTION OF HIGHER LEARNING THAT SEEKS TO ACHIEVE EXCELLENCE AND SCHOLARLY DISCIPLINE IN THE FIELDS OF LIBERAL LEARNING AND PROFESSIONAL KNOWLEDGE. THE INSTITUTION IS GUIDED BY THE HISTORICAL PRINCIPLES OF RELIGIOUS AND INTELLECTUAL FREEDOM, WHILE AFFIRMING RELIGIOUS AND MORAL VALUES THAT ARISE FROM THE JUDEO-CHRISTIAN UNDERSTANDING OF THE WORLD. false false 81634211 INSTRUCTION THE UNIVERSITY HAS 11 COLLEGES AND SCHOOLS. THESE EXPENSES ARE RELATED TO THE DIRECT INSTRUCTION OR TEACHING OF HIGHER EDUCATION. 52362935 52362935 Scholarship The University has 11 colleges and schools. These expenses are related to the support provided to the students based on donor stipulation, need, and merit. 24889068 Academic Support These expenses include providing library services and academic program development to the Provost and Deans of each college. 26991080 1143695 Research 22622254 Auxillary Services 21139858 Student Services 4255551 Public Services 618058 Other 75626801 1143695 234513015 true true false true false true false false true true true false false true false true false true false true false false false true false false true true true true false false false false false false false false false true true false false false true true false false false false true 595 1 true 3642 true true true false false false false true true false false false false false X 49 48 true false false false false false false true true false false true true true true true true true true false GA X WILLIAM G SOLOMON 4783012771 1400 COLEMAN AVENUE MACON GA 31207 WILLIAM DAVID UNDERWOOD 55.0 X X 352289 0 76270 WILLIAM H ANDERSON II 1.0 X 0 0 0 KELLIE R APPEL 1.0 X 0 0 0 H ALLEN BALDREE 1.0 X 0 0 0 BARBARA BAUGH 1.0 X 0 0 0 GUS H BELL III 1.0 X 0 0 0 JAMES A BISHOP 1.0 X 0 0 0 THOMAS P BISHOP 1.0 X 0 0 0 THOMAS B BLACK 1.0 X 0 0 0 G MARSHALL BUTLER 1.0 X 0 0 0 RODDY JH CLARK 1.0 X 0 0 0 JAMES H COWART 1.0 X 0 0 0 DWIGHT J DAVIS 1.0 X 0 0 0 C GREG DELOACH III 1.0 X 0 0 0 W HOMER DRAKE JR 1.0 X 0 0 0 JAMES C ELDER JR 1.0 X 0 0 0 WILLIAM A FICKLING KR 1.0 X 0 0 0 C BRUCE GORDY 1.0 X 0 0 0 WM ANDREW HAGGARD 1.0 X 0 0 0 ROBERT F HATCHER SR 1.0 X 0 0 0 MIRIAM M HOLLAND 1.0 X 0 0 0 DAVID E HUDSON 1.0 X 0 0 0 W MANSFIELD JENNINGS 1.0 X 0 0 0 SPENCER B KING III 1.0 X 0 0 0 DAVID E LINCH 1.0 X 0 0 0 THOMAS W MALONE 1.0 X 0 0 0 JAMES THOMAS MCAFEE III 1.0 X 0 0 0 BENJAMIN W GRIFFITH III 1.0 X 0 0 0 SAM MITCHELL 1.0 X 0 0 0 ROBERT L MOORE JR 1.0 X 0 0 0 W ANTHONY MOYE 1.0 X 0 0 0 J REG MURPHY 1.0 X 0 0 0 M DIANE OWENS 1.0 X 0 0 0 JULIE PENNINGTON-RUSSELL 1.0 X 0 0 0 CURTIS L PICKELS 1.0 X 0 0 0 L RICHARD PLUNKETT JR 1.0 X 0 0 0 KENNETH D SAMS 1.0 X 0 0 0 W LOUIS SANDS 1.0 X 0 0 0 WILLIAM DAVID SAPP 1.0 X 0 0 0 RICHARD A SCHNEIDER 1.0 X 0 0 0 ROBERT L STEED 1.0 X 0 0 0 HUGH P THOMPSON 1.0 X 0 0 0 JACKSON P TURNER JR 1.0 X 0 0 0 JAMES T TURNER JR 1.0 X 0 0 0 RAYMOND M WARREN III 1.0 X 0 0 0 HOWELL L WATKINS II 1.0 X 0 0 0 JAMES R WILLIAMS 1.0 X 0 0 0 WILLIAM G WILSON 1.0 X 0 0 0 CATHY CALLAWAY ADAMS 1.0 X 0 0 0 DONALD E BAXTER 1.0 X 0 0 0 MALCOLM S BURGESS JR 1.0 X 0 0 0 JOHN W COLLIER 1.0 X 0 0 0 MILTON L CRUZ 1.0 X 0 0 0 LINDA WILLIS EYDT 1.0 X 0 0 0 NANCY A GRACE 1.0 X 0 0 0 N DUDLEY HORTON JR 1.0 X 0 0 0 CAROLYN T MCAFEE 1.0 X 0 0 0 WILLIAM L SELF 1.0 X 0 0 0 DAVID LINCH 1.0 X 0 0 0 WILLIAM G SOLOMON IV 55.0 X 205758 0 38512 JAMES SIDNEY NETHERTON 55.0 X 267427 0 44847 JULIA TRAVIS DAVIS 55.0 X 131000 0 14833 DAVID TAYLOR BARWICK 55.0 X 233867 0 65582 WILLIAM F BINA 55.0 X 311123 0 42271 RICHARD ALAN CULPEPPER 55.0 X 158443 0 15238 WALLACE LEE DANIEL JR 55.0 X 282562 0 27183 DAVID SCOTT DAVIS 55.0 X 161480 0 40550 PENNY LORAINE ELKINS 55.0 X 149146 0 30564 RALEIGH KIRBY GODSEY 55.0 X 237245 0 41426 HEWITT MATTHEWS 55.0 X 229296 0 44486 GARY J SIMPSON 55.0 X 142500 0 11445 JOHN A PATTERSON 55.0 X 166203 0 39513 RICHARD V SWINDLE 55.0 X 257117 0 47030 JOHN A HUDSON 40.0 X 547350 0 47349 DOUGLAS PAUL FARMAN 40.0 X 491123 0 33761 HAROLD P KATNER 40.0 X 297025 0 42144 JEFFREY L STEPHENS 40.0 X 366412 0 35345 DAVID CHARLES PARISH 40.0 X 280031 0 44320 5267397 0 782669 192 false true false ARAMARK SERVICES 1400 Coleman Avenue MACON GA 31207 FOOD SERVICES 4612209 NATIONAL MANAGEMENT SERVICES PO Box 1224 LAGRANGE GA 30241 custodial services 2693476 GEORGIA POWER 96 ANNEX ATLANTA GA 30396 UTILITIES 2967146 EMERY AND ASSOCIATES PO BOX 21 DECATUR GA 30031 General CONTRACTOR 1613201 Memorial Health University Med Cen 4700 Waters Avenue SAVAHAH GA 31404 Teach Hospital Srvc 2218035 81 55811 49381974 17922900 1601226 67360685 TUITION AND FEES 900099 177467082 177467082 AUXILIARY SERVICES 900099 19100536 19100536 196567618 4772315 0 -20596 4792911 0 0 176025 181587 -5562 -5562 0 -5562 0 1943764 255489 5380520 331339 -3436756 -75850 -3512606 0 0 -3512606 64756 55811 73671 -8915 0 -8915 0 0 0 0 925965 945967 -20002 0 0 -20002 POST RETIREMENT BENEFIT INCOME 900099 127862 0 0 127862 MISCELLANEOUS 900099 5393124 5393124 0 0 LOSSES ON SPLIT INTEREST AGREEMENTS 900099 -335044 0 0 -335044 5185942 270339475 201960742 -26158 1044206 1143695 1143695 52362935 52362935 0 0 1070937 1070937 0 105178390 94741176 9067058 1370156 7091886 6395724 604773 91389 14158362 12922243 982961 253158 6817796 6147727 582105 87964 0 387517 182517 205000 326402 35454 290948 55050 42550 12500 0 0 11134444 9875872 1258572 0 1187836 1027312 142012 18512 4057611 2432111 1617204 8296 30112 30112 1062983 1062983 4337632 3984142 263700 89790 0 0 5466160 3830359 1635801 0 13626393 10991049 2635344 1684919 1284581 400338 OPERATIONS & MAINTENANCE 13319966 10255432 3064534 0 PROGRAMS & EVENTS 2432814 1636344 720654 75816 TELEPHONE 2058691 1752315 246339 60037 LAB SUPPLIES/EQUIPMENT 1785696 1783901 1795 0 GOVT/PRIVATE SUBCONTRACTS 1143996 1143996 0 0 10394782 8560065 1711037 123680 262317005 234513015 25420192 2383798 25681648 28364856 6294106 5741221 6530762 11183179 604688 659999 380939637 175281525 209067955 205658112 66902507 81012640 95358335 117837565 12427740 13684323 2783494 2984400 425651235 467126295 11545242 10173118 3094813 3436331 152620683 148319964 5769191 4809903 29943698 29740692 202973627 196480008 X 42938392 74944221 7831709 10641149 171907507 185060917 222677608 270646287 425651235 467126295 X 8022470 39946209 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true 55050 false false true 30177 false false 85227 false false Lobbying Expenses Schedule C, Part II-B, Line 1i Mercer University retains a consultant, Hurt, Norton, and ASSOCIATES, TO PROMOTE LEGISLATION WHICH WOULD PROVIDE MERCER UNIVERSITY WITH FEDERAL FUNDS FOR USE OF VARIOUS UNIVERSITY PROJECTS AND PROGRAMS. ADDITIONALLY, A UNIVERSITY STAFFPERSON WORKED TO SECURE STATE APPROPRIATIONS. X 2 1 1 0 1 false 24.00 480 true 160222432 6838374 34868885 4965580 196964111 147597621 4872271 12388627 4636087 160222432 191395824 8282060 -46204929 5875334 147597621 0.09440 0.90560 0.00000 false false 15271806 15271806 263341147 110288293 153052854 17305494 9018625 8286869 85021190 55974607 29046583 0 0 0 205658112 PERPETUAL TRUSTS 59727232 F HEDGED EQUITY FUNDS 26622600 F REAL ASSET FUNDS 10972225 F PRIVATE EQUITY FUNDS 8640010 F REMAINDER INTEREST TRUST 6287287 F DEBT SERVICE RESERVE 0 F MISCELLANEOUS INVESTMENTS 2699700 F CASH AND CASH EQUIVALENTS 2888511 117837565 0 ADVANCES FROM FEDERAL GOVERNMENT 14898344 ASSET RETIREMENT OBLIGATION 5340185 INTEREST RATE SWAP 4404557 ANNUITY OBLIGATIONS 3332876 POST RETIREMENT BENEFITS 1335458 CAPITAL LEASES OBLIGATIONS 429272 29740692 270339475 262317005 8022470 30840997 9105212 39946209 47968679 257922749 30840997 9203067 40044064 217878685 52460790 52460790 270339475 209954070 209954070 52362935 52362935 262317005 Conservation Easements Schedule D, Part II, Line 9 When Mercer University received the funds for the Grand Opera House, they were reported as auxiliary revenue and auxiliary expenses. Funds spent on capital items were reported on the balance sheet as a building renovation. Funds received for the Hardeman building were recorded as private gifts/grants and operations expenses. Funds spent on capital items were reported on the balance sheet as a building renovation. There is no footnote describing Mercer University's accounting for conservation easements in the audited financial statements for the year ended June 30, 2011. Endowment Funds Schedule D, Part V, Line 4 The corpus is held in perpetuity. The earnings (unrealized, realized , and earnings) are used to pay investment fees for the individual funds, pay the investment advisor, and fund the annual approved spending allocation. The spending allocation funds the specific expense for which the donor provided the endowment fund. Schedule D, Part XI, line 8 Other Change in Beneficial Interest in Perpetual Trusts 8,695,334 Change in Fair Value of Interest Rate Swap 507,733 Change in Value of Split- Interest Agreements -97,855 ------------ Total 9,105,212 Schedule D, Part XII, Line 2d Amounts included on line 1 but not on form 990, Part VIII, Line 12 Change in fair value of interest rate swap 507,733 Change in beneficial interest in perpetual trust 8,695,334 ------------ Total 9,203,067 Schedule D, Part XII, Line 4b Amounts Included on Form 990, Part VIII, Line 12 but not on line 1 Student Assistance Reclass 52,362,935 Change in Fair Value of Split Interest Agreements 97,855 ---------- Total 52,450,790 Schedule D, Part XIII, Line 4b Amounts Included on Form 990, Part IX, Line 25 but Not on Line 1 Student Assistance Reclass 52,362,935 true true true true true true true false false false false false false false false true false true SCHEDULE E- EXPLANATION FOR LINE 3 JOB POSTINGS AND OTHER VARIOUS PUBLICATIONS. THE UNIVERSITY CATALOG POSTS THE REQUIREMENTS FOR ADMISSION, NONE OF WHICH ARE RACIALLY DISCRIMINATING. SCHEDULE E- EXPLANATION FOR LINE 6A THE UNIVERSITY PARTICIPATES IN THE FOLLOWING PROGRAMS: FEDERAL PELL GRANTS, FEDERAL ACADEMIC COMPETIVENESS GRANTS (ACG), FEDERAL NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANTS (NATIONAL SMART GRANT), FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG), FEDERAL SUBSIDIZED STAFFORD LOANS, FEDERAL PERKINS LOANS, FEDERAL PARENT (PLUS) LOANS, AND FEDERAL WORK STUDY PROGRAM. THE UNIVERSITY ALSO RECEIVES VARIOUS FEDERAL GRANT AND CONTRACTS FOR ACADEMIC AND SCIENTIFIC RESEARCH. true East Asia and the Pacific 0 0 Program Services Study Abroad Sub-Saharan Africa 0 0 Program Services Study Abroad Europe (Including Iceland and Greenland) 0 0 Program Services Study Abroad Central America and the Caribbean 0 0 Program Services Study Abroad South Asia 0 0 Program Services Study Abroad Middle East and North Africa 0 0 Program Services Study Abroad 0 0 0 0 true false false false false false ATHLETIC RAFFLE 39740 39740 13500 205 AUTHOR'S LUNCH 46497 35896 10601 46497 2 34330 19915 14415 2000 11469 120567 55811 64756 13500 2000 58171 73671 -8915 true ANDROMEDA SYSTEMS INC 2233 PARK AVE ORANGE PARK FL 32073 203595072 141113 0 n/a n/a ENGINEERING SERVICES PI-TECH INC 1063 WALNUT ST MACON GA 31208 582354718 204730 0 n/a n/a ENGINEERING SERVICES ROSE-HULMAN INSTITUTE OF TECHNOLOGY 5500 WABASH AVE TERRE HAUTE IN 47803 350868149 501(c)(3) 132289 0 n/a n/a ENGINEERING RESEARCH TECHNICAL DATA ANALYSIS 3190 FAIRVIEW PARK DR SUITE 650 FALLS CHURCH VA 22042 541869259 16234 0 n/a n/a engineering services RP BELL PE 412 WESTWOOD DR CHIPPEWA FALS WI 54729 399384410 7416 0 n/a n/a CONSULTING SERVICES BELLWEATHER INC PO BOX 190 MCDONOUGH GA 30253 581273169 16925 0 n/a n/a FABRICATION SERVICES DUBLIN ORTHOPEDICS & REHABILITATION PO BOX 368 DUBLIN GA 31040 581707928 47800 0 n/a n/a MEDICAL CONSULTING ELECTRONIC DESIGN CORPORATION 1911 GRAYSON HWY SUITE 8-379 GRAYSON GA 30017 581924906 10237 0 n/a n/a DESIGN OF CIRCUIT BOARDS METCUT RESEARCH 3980 ROSSLYN DR CINCINNATI OH 45209 310599320 56322 0 N/A N/A TESTING SERVICES QUALTEST INC 5325 OLD WINTER GARDEN RD ORLANDO FL 32811 592690412 14260 0 N/A N/A TESTING SERVICES ZURVAHN LLC 6601 LYONS RD BLDG L-3 COCUNUT CREEK FL 33073 204888437 5048 0 N/A N/A DESIGN OF CIRCUIT BOARDS SF INDUSTRIAL 105 HEMBREE PARK DR SUITE G ROSWELL GA 30076 282663634 90865 0 N/A N/A FABRICATION SERVICES WINDSTREAM COMMUNICATIONS TWO NORTH MAIN ST GREENVILLE SC 29601 200792300 11359 0 N/A N/A EIA BUNDLE INSTALLATION UNIVERSITY OF MINNESOTA- DULUTH 200 OAK STREET SE MINNEAPOLIS MN 55455 416007513 GOVT 38221 0 N/A N/A RESEARCH WAKE FOREST UNIVERSITY MEDICAL CENTER BLVD WINSTONSALEM NC 27157 560532136 501(C)(3) 52542 0 N/A N/A RESEARCH ANMED HEALTH 2000 EAST GREENVILLE ST STE 3600 ANDERSON SC 29621 570359174 501(C)(3) 23161 0 N/A N/A RESEARCH UNIVERSITY OF TEXAS AT AUSTIN 1 UNIVERSITY STATION D3150 AUSTIN TX 78712 746000203 GOVT 24186 0 N/A N/A research UNIVERSITY OF CONNECTICUT HEALTH CENTER 263 FARMINGTON AVE FARMINGTON CT 060305335 521725543 GOVT 202259 0 N/A N/A RESEARCH MEDICAL COLLEGE OF GEORGIA PO BOX 945552 ATLANTA GA 303945552 586002053 GOVT 45955 0 N/A N/A research 7 12 Student Financial aid assistance 6475 52362935 0 n/a n/a Monitoring Use of Grants Schedule I, Part I, Line 2 Assistance to Mercer University students in the form of scholarships are awarded for the purpose of aiding with the cost of attending the university, i.e. for tuition, housing, and meals. Scholarships are based on academic achievement, need, and other donor requirements such as location of residence. Mercer University has criteria for the eligibility requirements needed to award a scholarship. Academic Scholarships are based on SAT scores and Grade Point Averages and are awarded by the Office of Admissions. Need based grants are made by the Office of Financial Planning and are made utilizing the federal need formula (FAFSA application). Students must be enrolled full-time to receive University scholarships/grants. Generally speaking, FAFSA data is verified for students who are selected for verification by the federal student aid program. X X X true true X X false false false false false false false false false WILLIAM DAVID UNDERWOOD 352289 0 0 0 0 0 24263 0 52007 0 428559 0 0 0 WILLIAM G SOLOMON IV 205758 0 0 0 0 0 21112 0 17400 0 244270 0 0 0 JAMES SIDNEY NETHERTON 267427 0 0 0 0 0 24500 0 20347 0 312274 0 0 0 DAVID TAYLOR BARWICK 233867 0 0 0 0 0 24500 0 41082 0 299449 0 0 0 WILLIAM F BINA 311123 0 0 0 0 0 24500 0 17771 0 353394 0 0 0 RICHARD ALAN CULPEPPER 158443 0 0 0 0 0 0 0 15238 0 173681 0 0 0 WALLACE LEE DANIEL JR 282562 0 0 0 0 0 24500 0 2683 0 309745 0 0 0 DAVID SCOTT DAVIS 161480 0 0 0 0 0 17296 0 23254 0 202030 0 0 0 PENNY LORAINE ELKINS 149146 0 0 0 0 0 15119 0 15445 0 179710 0 0 0 RALEIGH KIRBY GODSEY 237245 0 0 0 0 0 23750 0 17676 0 278671 0 0 0 HEWITT MATTHEWS 229296 0 0 0 0 0 23484 0 21002 0 273782 0 0 0 GARY J SIMPSON 142500 0 0 0 0 0 8550 0 2895 0 153945 0 0 0 JOHN A PATTERSON 166203 0 0 0 0 0 17700 0 21813 0 205716 0 0 0 RICHARD V SWINDLE 257117 0 0 0 0 0 24500 0 22530 0 304147 0 0 0 JOHN A HUDSON 547350 0 0 0 0 0 21428 0 25921 0 594699 0 0 0 DOUGLAS PAUL FARMAN 491123 0 0 0 0 0 13255 0 20506 0 524884 0 0 0 HAROLD P KATNER 297025 0 0 0 0 0 19677 0 22467 0 339169 0 0 0 JEFFREY L STEPHENS 366412 0 0 0 0 0 16174 0 19171 0 401757 0 0 0 DAVID CHARLES PARISH 280031 0 0 0 0 0 23181 0 21139 0 324351 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE, PERSONAL SERVICES, AND CLUB DUES WILLIAM UNDERWOOD, MERCER UNIVERSITY PRESIDENT, RECEIVED A PROVISION OF HOUSING, INCLUDING CUSTODIAL SERVICES, FOR BUSINESS USE. NOT TREATED AS TAXABLE COMPENSATION. JAMES NETHERTON, SENIOR VICE PRESIDENT OF ADMINISTRATION AND FINANCE, RECEIVED A CORPORATE MEMBERSHIP TO A SOCIAL CLUB. NOT TREATED AS TAXABLE INCOME. PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LNX2 2003-01-01 30000000 Finance Capital Renovations false false false PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LTG3 2006-05-19 22040000 Finance Capital Improvements false false false PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407780 74265LYJ7 2006-05-19 26150000 Refunding Series 2001 false false false DEVELOPMENT AUTHORITY OF BIBBS COUNTY 581445945 2009-01-20 4250000 Finance Enterprise Resource Pl false false false 4750000 0 30000000 0 0 0 580200 302035 0 29117765 0 0 2005 false false true true 1500000 0 22040000 2000000 0 0 400665 139335 0 19500000 0 0 2011 false false true true 500000 0 26150000 0 0 25577910 406772 165318 0 0 0 0 2016 false true true true 850000 0 4250000 0 0 0 45350 0 0 4204650 0 0 2011 false false true true false false false false true 0.00000 0.00000 0.00000 true false false false false true 0.00000 0.00000 0.00000 true false false false false true 0.00000 0.00000 0.00000 true false false false false true 0.00000 0.00000 0.00000 true false true false true BAYERISCHE HYPO-UND 1.5 true false false true true false true SOCIETE GENERALE 30.3 true false true false true true LEHMAN BROTHERS 10.5 false false false true false false true false false false true KING SPALDING 3 PTRS ON BOARD OF DIR 70961 LEGAL SERVICES false X 12 8700 FMV X 3767 X 58472 X 1 1479086 FMV X 16 3708 FMV X 1 4875 FMV X MISCELLANEOUS 55 42618 FMV false true false Voting Board Members Form 990, Part VI, Section A, Line 1a The affairs of the Corporation are managed and controlled by a Board of Trustees, consisting of forty-five (45) regular members who serve for terms of five (5) years each, and no more than ten (10) Life Trustees who serve for life. Currently, there is one (1) Life Trustee serving on the Board of Trustees. The President of the University also serves as an ex officio member of the Board of Trustees. Each of these members of the Board of Trustees has the power to vote. During the intervals between meetings of the Board of Trustees, the Executive Committee possesses and may exercise all the powers of the Board in the management and direction of the business and affairs of the Corporation in all cases in which specific direction has not have been given by the Board. The Bylaws of the Corporation provide that the Executive Committee shall consist of the Chairman of the Board and the President ex officio and not less than seven (7) additional members chosen from the membership of the Board. All of the members of the Executive Committee are voting members of the Board of Trustees. Independent Board Members Form 990, Part VI, Section A, Line 1b The President of the University, who serves as an ex officio voting member of the board of trustees, is compensated as an officer of the corporation, and is thus the only member of the corporation's governing body who is not considered to be "independent." Family and Business Relationship Form 990, Part VI, Section A, Line 2 Members of the Board of Trustees Carolyn T. McAfee and J. Thomas McAfee III have a family relationship (mother and son). Members of the Board of Trustees David E. Linch and Nancy A. Grace have a family relationship (husband and wife). Mercer University owns stock in MidCountry Financial Corp. Mercer University President William D. Underwood serves on MidCountry Financial Corp Board of Directors, and MidCountry Financial Corp President and Chief Executive Officer Robert F. Hatcher serves as a member of the Board of Trustees. Members of the Board of Trustees Richard A. Schneider and Dwight J. Davis are partners in the law firm of King & Spalding, LLP and Life Trustee Robert L. Steed is a retired partner of King & Spalding, LLP. King & Spalding, LLP represents Mercer University in various legal matters from time to time. review of 990 Form 990, Part VI, Section B, Line 11B Prior to filing, the Form 990 was reviewed in detail by the Executive Committee of the Board of Trustees, and a copy of the finalized Form 990 was then distributed to all members of the Board of Trustees prior to filing. monitor and enforce compliance wtih written conflict of interest policy form 990, part vi, section b, line 12c At each annual meeting of the Board of Trustees, each Trustee, officer, and key employee of the University is required to (a) to review the institution's Conflict of Interest Policy for Trustees, Officers, and Key Employees; (b) to disclose any possible personal, familial or business relationships that reasonably could give rise to a conflict of interest involving the University; and (c) to acknowledge by his or her signature that he or she is in accordance with the letter and spirit of the Conflict of Interest Policy. All Trustees, officers and key employees are required to list on a Disclosure Form for Trustees, Officers, and Key Employees those substantive relationships that they maintain (or members of their families maintain) with organizations that do business with the University, or that otherwise could be construed to potentially affect their independent, unbiased judgment in light of their decision-making authority or responsibility. In the event a Trustee, officer or key employee is uncertain as to the appropriateness of listing a particular relationship, the Chair of the Board of Trustees and/or the President is consulted. They, in turn, may elect to consult with legal counsel, the Executive Committee, or the Board of Trustees in executive session. These disclosure forms are collected by the Secretary of the Corporation, and copies are provided annually to the University's independent auditors. Trustees, officers, and key employees who have declared or been found to have a conflict of interest are required to refrain from participating in consideration of proposed transactions, unless for special reasons the Board or administration requests information or interpretation. Persons with conflicts are not allowed to vote or be present at the time of the vote on such transactions. Whenever the Board of Trustees holds a meeting at which (a) a Trustee's, officer's, or key employee's financial interest in a matter is disclosed, (b) a determination regarding the existence of a conflict of interest is made, or (c) a transaction or arrangement with respect to which a Trustee, officer, or key employee has a conflict of interest is considered, the Board's consideration of these issues is documented in the minutes of the meeting. In the interim between annual meetings, each Trustee, officer, and key employee has an ongoing obligation to notify the Board of Trustees promptly of any actual, apparent or potential conflict of interest as it arises. determining compensation Form 990, Part VI, Section B, Line 15a & 15B The Executive Committee of the Board of Trustees has established a Compensation Committee, comprised of the Chair of the Board of Trustees, the Chair of the Executive Committee, and the Chair of the Finance, Investment and Property Committee, each of whom is an independent voting member of the University's governing body. On an annual basis, the Compensation Committee establishes the compensation arrangements for the President of the University, and also reviews the compensation arrangements for each University officer and other key employee who is in a position to exercise substantial influence over the affairs of the University to ensure that such compensation arrangements are reasonable. In carrying out this process, the Compensation Committee obtains and relies upon appropriate comparability data and concurrently documents the basis for its deliberations and decisions. No person having a conflict of interest with respect to the compensation arrangement for any University officer or key employee is present during the discussion and approval of such compensation arrangements. making governing documents, conflict of interest policy, and financial statements available to the public. Form 990, Part VI, Section C, Line 19 The University makes its governing documents (i.e., Articles of Incorporation and Bylaws) and its conflict of interest policy available to the general public by posting them on the institution's Web site (http://www.mercer.edu). On an annual basis, the University makes its audited financial statements available to the general public by continuing disclosure through the Electronic Municipal Market Access (EMMA) system of the Municipal Securities Rulemaking Board (MSRB) (http://emma.msrb.org). OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED GAINS 30,840,997. CHANGE IN SPLIT INTEREST AGREEMENT (97,855). CHANGE IN BENEFICIAL INTEREST PERPETUAL TRUST 8,695,334. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 507,733. ------------ TOTAL 39,946,209. Mercer Medicine LLC 1400 Coleman Avenue Macon GA 31207 204846017 Practice Plan GA 0 0 na Abram properties LLC 1400 Coleman Avenue Macon GA 31207 580566167 Property Inv GA 0 0 na Aliel Park Investments LLC 1400 Coleman Avenue Macon GA 31207 580566167 property Inv GA 0 0 na Preschool Properties LLC 1400 Coleman Avenue Macon GA 31207 580566167 Property Inv GA 0 0 na Emery Hawkins LLC 1400 Coleman Avenue Macon GA 31207 580566167 Property Inv GA 0 0 na Noco Holdings Limited Company 1400 Coleman Avenue Macon GA 31207 261955280 property inv GA 0 0 na Mercer Housing Corporation 1400 COLEMAN AVENUE MACON GA 31207 582445350 educ/housing GA 501(c)(3) 11 na Center for Health and Learning Inc 3001 MERCER UNIVERSITY DRIVE ATLANTA GA 30341 262442849 healthcare GA 501(c)(3) 11 na Jean Jackson CRAT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586320431 Charitable tr GA na trust 0 137021 1.00000 Phyllis F Forschler CRAT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586320430 Charitable tr GA na trust 0 200751 1.00000 Richard and Pearl Graves CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586318973 Charitable tr GA na trust 0 61197 1.00000 Virginia M Hall CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586332446 Charitable tr GA na trust 0 1303209 1.00000 Forbes and Nan Davis CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586334862 Charitable tr GA na trust 0 481104 1.00000 Will and Kitty Holladay CRUT Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586344697 Charitable tr GA na trust 0 41214 1.00000 Claire M Willingham CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586345893 Charitable tr GA na trust 0 40870 1.00000 William B Greenhaw CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586374213 Charitable tr GA na trust 0 27744 1.00000 John and Loretta Harrison CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586380752 Charitable tr GA na trust 0 43652 1.00000 Fred and Aileen Borrish CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586393137 Charitable tr GA na trust 0 868938 1.00000 Walter and Ruth Drake CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 742936543 Charitable tr GA na trust 0 54738 1.00000 TJ and Su-Chin Lin CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586410135 Charitable tr GA na trust 0 57114 1.00000 Billy Lee Thomas CRUT #2 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586410134 Charitable tr GA na trust 0 50330 1.00000 Vincent and C Lindyberg CRUT Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586423951 Charitable tr GA na trust 0 61887 1.00000 Will and Kitty Holladay CRUT #2 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 756629202 Charitable tr GA na trust 0 33790 1.00000 Fred B Miller CRAT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 756636971 Charitable tr GA na trust 0 58051 1.00000 Billy Lee Thomas CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 912041548 Charitable tr GA na trust 0 52330 1.00000 James and Jean Culver CRAT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 716208283 Charitable tr GA na trust 0 626127 1.00000 T Gray Fountain NICRUT Concord Trust Co 1601 Elm St Ste Dallas TX 75201 586262078 Charitable tr GA na trust 0 374675 1.00000 Walter and Ruth Drake CRAT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 207219649 Charitable tr GA na trust 0 31572 1.00000 Walter H and Ruth Drake CRAT #2 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 207304969 Charitable tr GA na trust 0 21719 1.00000 Curtis and Ola Pickels CRUT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 207463908 Charitable tr GA na trust 0 140245 1.00000 James and Jean Culver CRAT #2 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 266237167 Charitable tr GA na trust 0 149224 1.00000 John and Leta Wimpey CRAT #1 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 266230733 Charitable tr GA na trust 0 643178 1.00000 Walter H and Ruth Drake CRUT #2 Concord Trust Co 1601 Elm St Ste Dallas TX 75201 266231028 Charitable tr GA na trust 0 42356 1.00000 Walter F George School of LA PO Box 1908 Orlando FL 32802 586209746 Charitable Tr GA NA TRUST 0 13513396 1.00000 George W Woofruff Fund po box 1908 orlando FL 32802 586169016 charitable tr GA NA TRUST 0 41930269 1.00000 Wallace Odel Duval PO Box 1908 Orlando FL 32802 586457537 charitable tr GA NA TRUST 0 112183 1.00000 false false false false false false false false false false false false true true true false false false