2012-05-14T11:19:10-04:00 2011-06-30 BKD LLP 190 E Capitol Street Ste 500 Jackson MS 392012190 990 2010-07-01 640303084 Millsaps College MILL 6019741100 PO Box 150433 Jackson MS 39210 Louise Burney 2012-05-15 Penny Wood CPA 6019486700 2010 2016-02-24 21:20:13Z LOUISE BURNEY PO Box 150433 Jackson MS 39210 51462239 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. 41 40 962 221552 5293358 7223996 34502501 35560549 867559 1967612 2047771 2163557 42711189 46915714 17287013 17489670 0 19138254 20212044 39262 7051 1282362 15052928 15479109 51517457 53187874 -8806268 -6272160 145151118 155807421 44205299 41631860 100945819 114175561 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 45679640 17489670 30135207 Educational facilities and personnel providing an ideal atmosphere for learning for approximately 1,060 students. This is achieved with one teacher to every 10 students and an average class size of 15. 408189 5425342 Auxiliary enterprises including the housing of 77% of the approximately 1,060 students enrolled. 46087829 true true false false false false false false true true true false true true false false true true false true true true false false false false false true true true false false false false false false false false false true true false false false true true true true true false true 297 0 true 962 true true true false false false false false false false false false X 41 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 0 0 0 Rev Warren Black 1.0 X 0 0 0 Dan Bowling 1.0 X 0 0 0 Jim Coggin 1.0 X 0 0 0 Will Flatt 1.0 X 0 0 0 Tom Fowlkes 1.0 X 0 0 0 Cris Glick 1.0 X 0 0 0 Maurice Hall 1.0 X 0 0 0 Monica Sethi Harrigill 1.0 X 0 0 0 Richard Hickson 1.0 X 0 0 0 Randy James 1.0 X 0 0 0 Eason Leake 1.0 X 0 0 0 John Lindsey 1.0 X 0 0 0 Hal Malchow 1.0 X 0 0 0 Rev Bill McAlilly 1.0 X 0 0 0 Jeff McDonald 1.0 X 0 0 0 Vaughan Mcrae 1.0 X 0 0 0 Mike McRee 1.0 X 0 0 0 Don Mitchell 1.0 X 0 0 0 Cooper Morrison 1.0 X 0 0 0 Bud Robinson Jr 1.0 X 0 0 0 Bishop Hope Ward 1.0 X 0 0 0 William Yates III 1.0 X 0 0 0 Rev Zachary Beasley 1.0 X 0 0 0 Bill Bynum 1.0 X 0 0 0 Mark Freeman 1.0 X 0 0 0 Rev Lisa Garvin 1.0 X 0 0 0 William F Goodman III 1.0 X 0 0 0 Rev Heather Hensarling 1.0 X 0 0 0 Peder Johnson 1.0 X 0 0 0 Rev Geoffrey Joyner 1.0 X 0 0 0 Richard Mills 1.0 X 0 0 0 Paul Ogden 1.0 X 0 0 0 Bobby Robbins 1.0 X 0 0 0 Rev Joey Shelton 1.0 X 0 0 0 Mike Sturdivant Jr 1.0 X 0 0 0 Mack Varner 1.0 X 0 0 0 Rev Luther Ott 1.0 X 0 0 0 Steven Smith 1.0 X 0 0 0 Murray Underwood 1.0 X 0 0 0 Toddy Sanders 1.0 X 0 0 0 Charles Lewis 40.0 X 120268 0 26476 Louise Burney 40.0 X 134057 0 13746 Brit Katz 40.0 X 96608 0 11806 Robert Pearigen 40.0 X 173572 0 12261 David Davis 40.0 X 113421 0 21876 Terri Hudson 40.0 X 85097 0 4250 Jesse Beeler 40.0 X 169998 0 13132 Kimberly Burke 40.0 X 170529 0 26744 Howard McMillan 40.0 X 160157 0 0 George Bey 40.0 X 135716 0 10827 Robert McElvaine 40.0 X 135032 0 25148 Frances Lucas 0.0 X 302976 0 21731 1797431 0 187997 17 true true false EIIA Inc 200 South Wacker Drive Ste 1000 CHICAGO IL 60606 Insurance 404405 GLAHI Trust 200 S Sacker Drive CHICAGO IL 60606 Insurance 2075217 Valley Innovative Services PO Box 5454 JACKSON MS 39288 Food Services 1662347 Milnick Commercial Roofing PO Box 751 CLINTON MS 39060 Roof Installation 312391 Copeland Johns Inc PO Box 10448 JACKSON MS 39289 Contractor 243989 12 186362 1684540 5353094 1212664 7223996 TUITION AND FEES 611600 29701185 29701185 SALES AND SERVICES AUXILIARY ENTERPRISES 611710 5425342 5425342 INCOME FROM FUNDS HELD IN TRUST BY OTHERS 900099 434022 434022 35560549 1196995 90811 1106184 66 66 0 84482 84482 84482 84482 3437856 4100 2671405 766451 4100 770551 770551 0 0 3691708 1875120 1816588 1816588 CENTRIKIDS CAMP 900099 241072 129786 111286 COKE CONTRACT PAYMENTS 900099 5000 5000 OTHER REVENUE 900099 16415 13400 955 2060 262487 46915714 37390537 221552 2079629 0 17423221 17423221 66449 66449 0 919266 226493 434830 257943 0 15893817 13146064 2059663 688090 568623 458653 83750 26220 1726078 1288537 437541 1104260 880543 162050 61667 10947 10947 25837 25837 115590 115590 0 7051 7051 0 360951 298381 54570 8000 547048 328911 194448 23689 2868238 2152743 628377 87118 396625 88297 308328 0 2838624 2838624 1505553 1267611 141318 96624 0 589101 264064 325037 1385192 1385192 0 3824756 3824756 614979 614979 TELEPHONE 156160 17224 138915 21 POSTAGE 152804 58992 78124 15688 EQUIPMENT RENTAL & MAINT. 86704 73074 3379 10251 53187874 46087829 5817683 1282362 4481444 3110304 1523398 630511 5088506 3457671 537793 1201691 2482339 2359577 725833 638555 96466080 61906735 36537470 34559345 54159926 67797517 20426926 22789792 19187483 19262458 145151118 155807421 4331185 3896491 2610177 2042466 30670000 29926000 334484 290962 436500 323367 5822953 5152574 44205299 41631860 X 20711086 23615212 19362681 26443711 60872052 64116638 100945819 114175561 145151118 155807421 X -6272160 19501902 X false true true X true true X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82058260 2165345 18469943 2304709 2872784 97516055 73354213 1129261 12743174 3221296 1947092 82058260 91555006 3966083 -15834787 3096335 3235754 73354213 0.37000 0.45000 0.18000 true false 411185 411185 74932854 44022297 30910557 18596859 16151905 2444954 2525182 1732533 792649 34559345 PRIVATELY HELD STOCK 22789792 F 22789792 FUNDS HELD IN TRUST 13206529 INVESTMENT IN MILLSAPS DEV INC 3533596 CASH SURRENDER VALUE LIFE INS 1628814 INVESTMENT HELD UNDER NOTE IND 893519 19262458 0 LIABILITY FOR FINANCIAL INSTRUMENT 3104230 LIABILITY FOR ASSET RETIREMENT 248391 ADVANCE UNDER GOVERNMENT LOANS 1799953 5152574 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 Prg 74973 East Asia and the Pacific Program Services Study Abroad Prg 30882 Europe (Including Iceland and Greenland) Program Services Study Abroad Prg 107335 Middle East and North Africa Program Services Study Abroad Prg 994 Sub-Saharan Africa Program Services Study Abroad Prg 10426 North America Program Services Study Abroad Prg 98357 North America Program Services Academic Facilit 29558 North America Program Services Research 58362 North America Program Services Study Abroad Fac 43186 Central America and the Caribbean Investments 2789792 3243865 3243865 North America Research 58189 Wire 1 Scholarship North America 1 8260 Wire false false true true 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 6/30/11 WAS $2,789,792. Schedule F, Part IV, Line 3: THE FILING REQUIREMENTS OF FORM 5471 WERE NOT MET BY MILLSAPS DURING THE FISCAL YEAR ENDED 6/30/2011 FOR ITS OWNERSHIP INTEREST IN A FOREIGN CORPORATION. THEREFORE, FORM 5471 WAS NOT FILED BY MILLSAPS. Schedule F, Part IV, Line 4: MILLSAPS COLLEGE INDIRECTLY INVESTS IN A PARTNERSHIP WHICH HAS MADE A TIMELY QUALIFIED ELECTING FUND ("QEF") ELECTION WITH RESPECT TO ITS INVESTMENT IN UNDERLYING PASSIVE FOREIGN INVESTMENT COMPANIES ("PFICS"). THE FIRST US SHAREHOLDER THAT MAKES A QEF ELECTION FOR A PFIC IS REQUIRED TO INCLUDE THAT INCOME CURRENTLY UNDER IRC SECTION 1293 AND TO FILE A FORM 8621. MILLSAPS' ALLOCABLE SHARE OF THIS INCOME IS NOT REQUIRED TO BE FURTHER REPORTED ON AN ADDITIONAL FORM 8621. THEREFORE, FORM 8621 WAS NOT FILED BY MILLSAPS. true Sponsored Scholarships 166 972538 Endowed Scholarships 231 957800 Other Scholarships 1021 14689611 SEOG 138 193943 Federal ACG Grant 74 66050 Federal Smart Grant 21 64000 LEAP Scholarships 18 24210 MS Tuition Assistance Grant 261 191125 Eminent Scholars 82 203750 Critical Need Teachers Scholarship 1 12830 HELP State Grant 7 35364 William Winter Teachers Scholarship 4 12000 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 X true true X X X X X true false false false false false false false false Frances Lucas 0 0 0 0 302976 0 12250 0 9481 0 324707 0 302976 Jesse Beeler 139018 0 0 0 30980 0 6250 0 6882 0 183130 0 Kimberly Burke 161930 0 0 0 8599 0 5708 0 21036 0 197273 0 Howard McMillan 157500 0 0 0 2657 0 0 0 0 0 160157 0 Robert Pearigen 150335 0 0 0 23237 0 0 0 12261 0 185833 0 Robert McElvaine 115292 0 0 0 19740 0 6272 0 18876 0 160180 0 Schedule J, Part I, Line 1a: Discretionary Spending Account Robert Pearigen Housing Allowance Robert Pearigen Social Club Dues Robert Pearigen Personal Services (Maid) Robert Pearigen All benefits provided are included in the compensation of the recipient. Schedule J, Part I, Line 4A: Former President, Frances Lucas, received a severance payment of $324,707 during 2010, which $316,875 of this amount was reported as deferred compensation on the 2009 Form 990 ($302,976 reportable compensation plus $13,899 of retirement & nontaxable benefits). 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 V false false false 1410000 31058702 265304 14070622 720000 730694 2011 true false false true false false false false false 0.00000 0.00000 0.00000 true false true true COMPASS BANK 15. false false false false false Schedule K, Part II, Line 3: 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: On August 5, 2008, the College entered into a loan through the Mississippi Business Finance Corporation in the amount of $31,000,000. The purpose of the tax-exempt loan was to repay the college project bonds of 1998 and to provide financing for new residence halls, renovation of the Christian Center, and other significant deferred maintenance items. WG YATES SONS CONSTRUCTION SEE PART V 204700 SEE PART V false SCHEDULE L, PART IV, LINE (1)(b): TRUSTEE, WILLIAM YATES, IS THE PRESIDENT AND CEO OF W.G. YATES & SONS CONSTRUCTION. SCHEDULE L, PART IV, LINE (1)(d): W.G. YATES & SONS CONSTRUCTION WAS HIRED BY MILLSAPS COLLEGE TO DEMOLISH A BUILDING ON CAMPUS. X 29 1212664 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 April 2011: * The number of regular voting Trustees should not be less than 16 and no more than 40. * At least 8 trustees must be ordained ministers who are members of the MS Annual Conference of The United Methodist Church and at least 8 trustees must be members of the laity of the MS Annual Conference of The United Methodist Church. * Regular voting Trustees shall be elected each year at the regular meeting of the Board in the spring, and the election is subject to ratification, but not substitution, by the MS Annual Conference of The United Methodist Church. * Non-voting Trustees may be appointed as advisory or honorary or Life Trustees. They can serve for a term determined by the Board and have such duties and responsibilities as are delegated by the Board, including serving on standing committees. At the age of seventy, retirement or Life Trustee status is mandatory. * Any member missing 3 consecutive meetings without good cause will be considered resigned from the Board. * Term limits can be waived at the recommendation of the Executive Committee and extended if approved by the Board. The extension period should be specified and defined. * The majority of each committee should be Trustees. * Ten members (rather than a majority) of the Board can request in writing to call a special meeting of the Board. * Officers of the Board are no longer automatically part of the Presidential Evaluation and Compensation Review Committee that reviews the President's performance and compensation. * The Vice-Chair no longer has to be the presiding Bishop of the MS Conference of The United Methodist Church. * The Executive Committee will include the Officers of the Board, the Chairs of the Standing Committees, the Bishop, and the immediate past Board Chair who will serve for one year after the election of a successor. The Board Chair is a voting member of the Executive Committee. * A new Committee, the Campus Facilities and Environment Committee, was added. The duties of campus oversight were moved from the Finance Committee to the newly established Campus Facilities and Environment 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 $325,000 INCREASE IN CASH SURRENDER VALUE 256,890 CHANGE IN VALUE IN SPLIT INTERESTS 1,653,672 UNREALIZED GAINS 16,639,814 UNREALIZED GAINS - SWAP 626,526 TOTAL - OTHER CHANGES IN FUND BALANCE $19,501,902 Millco PO Box 150433 Jackson MS 39210 640511687 See Part VII MS 0 0 NA Millsaps Development Inc PO Box 150433 Jackson MS 39210 237210558 See Part VII MS 501(C)(2) NA Millsaps Real Estate Holdings Inc PO Box 150433 Jackson MS 39210 640833283 See Part VII MS 501(C)(2) NA KAXIL KIUIC AC CALLE 10 NO 66 POR 7 Y 9 9713 MERIDA YUCATAN MX 97000 See Part VII MX NA false true true false false false false false false false false false false false false false false false Millsaps Development Inc b 75000 Millsaps Development Inc c 186362 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.