2011-04-18T08:21:07-05:00 2010-06-30 BLACKBURN CHILDERS & STEAGALL PLC 801B Sunset Drive Johnson City TN 376043033 990 2009-07-01 561065978 MID-ATLANTIC CHRISTIAN UNIVERSITY INC MID- 2523342007 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 KURTIS L KIGHT 2523342007 2011-04-08 1 THOMAS S GREER 4232824511 2011-04-07 2009 2016-02-24 21:20:13Z KURTIS LKIGHT 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 3685155 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. 14 13 108 11 0 0 1249538 1490810 2378417 2190886 19318 3459 0 0 3647273 3685155 357451 383953 0 0 392156 384548 0 0 121948 3079892 3012400 3829499 3780901 -182226 -95746 4253409 4096097 1218468 1156171 3034941 2939926 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 1764048 384548 1338899 OPERATION OF UNIVERSITY GRANTING BOTH TWO AND FOUR YEAR DEGREES. 1764048 1 1 0 0 0 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 232 0 1 108 1 0 0 0 0 0 0 0 0 0 14 13 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 VICE PRESIDENT FOR FINANCE 2523342007 715 NORTH POINDEXTER STREET ELIZABETH CITY NC 27909 D CLAY PERKINS 40.00 X X 92051 0 10945 GENE M LANGLEY 2.00 X 0 0 0 WYETT H COLCLASURE II 2.00 X 0 0 0 DENISE M MOULDEN 2.00 X 0 0 0 M LUSETTA SLAGLE 2.00 X 0 0 0 BENJAMIN H ALLEN 2.00 X 0 0 0 JAMES A BENNETT 2.00 X 0 0 0 DARRELL M BLACKWELL 2.00 X 0 0 0 J DAVID CULBERTSON 2.00 X 0 0 0 LOREN D DECKARD 2.00 X 0 0 0 GREGORY D HAND 2.00 X 0 0 0 WILLIAM C MCCRACKEN 2.00 X 0 0 0 CURT W NORDHIELM 2.00 X 0 0 0 W KEITH TANKARD 2.00 X 0 0 0 MICHAEL A TETTERTON 2.00 X 0 0 0 REBECCA T WEST 2.00 X 0 0 0 TERRY W SCHULTZ 2.00 X 0 0 0 CHRISTOPHER A HUX 2.00 X 0 0 0 E DAVID SAYERS 40.00 X 69357 0 10171 KURTIS L KIGHT 40.00 X 3600 0 0 KEVIN W LARSEN 40.00 X 59776 0 9857 KENDALL S GREENE 40.00 X 55124 0 9707 WILLIAM WOOD 40.00 X 56922 0 9767 LEE M FIELDS 40.00 X 52328 0 9630 389158 0 60077 0 0 0 0 THOMPSON HOSPITALITY 1704 WEEKSVILLE ROAD ELIZABETH CITY NC 27909 FOOD SERVICE PROVIDER 375884 AULTRA ADMINISTRATVE GROUP P O BOX 6910 CANTON OH 447060910 HEALTH LIABILITY/CLAIMS 147735 AULTRA ADMINISTRATVE GROUP P O BOX 6910 CANTON OH 447060910 HEALTH INSURANCE 137162 LINCOLN FINANCIAL GROUP 11623 COLDWATER ROAD 102 FORT WAYNE IN 468451274 EMPLOYEE CONTR/EMPLOYER MATCH 109505 3 85550 32120 1373140 1490810 TUITION AND FEES 611710 1338899 1338899 AUXILIARY ENTERPRISES 611710 802387 802387 OTHER INCOME 611710 49600 49600 2190886 3459 3459 3685155 1338899 0 855446 383953 383953 384548 126001 192353 66194 156906 23100 133806 49756 49756 258973 81920 177053 INSTITUTIONAL SUPPORT 701325 645571 55754 AUXILIARY ENTERPRISES 696366 696366 INSTRUCTION 526998 526998 STUDENT SERVICES 444043 444043 ACADEMIC SUPPORT 178033 178033 3780901 1764048 1894905 121948 15943 14037 148253 152515 40219 70148 8022588 4670673 3610888 3351915 52596 142750 385510 364732 4253409 4096097 138923 110699 21983 21733 995773 981101 60000 40000 1789 2638 1218468 1156171 X 2613529 2510400 419412 427526 2000 2000 3034941 2939926 4253409 4096097 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2044893 114065 232306 -85452 0 0 2305812 2396828 66789 -272122 -146602 0 0 2044893 0.00000 0.99910 0.00090 0 0 181108 181108 6239862 3218008 3021854 0 1601618 1452665 148953 0 3351915 OTHER ASSETS 44655 CASH SURRENDER VALUE OF LIFE INSURANCE 37450 BENEFICIAL INTEREST IN CHARITABLE LEAD TRUST 282627 364732 OTHER 2638 2638 3685155 3780901 -95746 731 731 -95015 3562852 731 260919 261650 3301202 383953 383953 3685155 3396948 0 3396948 383953 383953 3780901 Part V, Line 4: Description of Intended Use of Endowment Funds: 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. Part X: Description of Uncertain Tax Positions Under FIN 48: NOTE 16 - UNCERTAIN TAXES THE UNIVERSITY FOLLOWS THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2010, THE UNIVERSITY HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE UNIVERSITY'S FINANCIAL STATEMENTS. THE UNIVERSITY'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE FINANCIAL STATEMENTS. NO INTEREST OR PENALTIES WERE RECORDED DURING THE YEAR ENDED JUNE 30, 2010. GENERALLY, THE TAX YEARS BEFORE 2006 ARE NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES. Part XII, Line 2d - Other Adjustments: EXCESS (DEFICIT) OF REVENUE OVER EXPENSES OF MID-ATLANTIC : 260919. CHRISTIAN UNIVERSITY FOUNDATION, INC. : 0. Part XII, Line 4b - Other Adjustments: SCHOLARSHIPS OFFSETTING STUDENT TUITION AND FEES: 383953. Part XIII, Line 4b - Other Adjustments: SCHOLARSHIPS OFFSETTING STUDENT TUITION AND FEES: 383953. 1 1 1 THE POLICY IS PUBLISHED IN THE UNIVERSITY CATALOG, NEWSLETTERS, THE UNIVERSITY WEBSITE, ADMISSIONS, STUDENT APPLICATIONS, EMPLOYMENT APPLICATIONS, AND SOLICITATIONS. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 MID-ATLANTIC CHRISTIAN UNIVERSITY PARTICIPATES IN THE TITLE IV STUDENT FINANCIAL AID PROGRAMS OF THE UNITED STATES DEPARTMENT OF EDUCATION. THIS IS THE ONLY GOVERNMENTAL AGENCY FROM WHICH THE COLLEGE RECEIVES FINANCIAL AID. 1 1 CASH SCHOLARSHIPS FOR STUDENTS ATTENDINGT MID-ATLANTIC CHRISTIAN UNIVERSITY IN PASQUOTANK COUNTY, NORTH CAROLINA 161 383953 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. Form 990, Part VI, Section B, line 11 BEFORE THE FORM 990 IS FILED WITH THE INTERNAL REVENUE SERVICE, A COPY OF THE TAX RETURN IS EMAILED TO THE BOARD OF TRUSTEES AND THERE IS A DETAILED DISCUSSION OF THE TAX RETURN WITH THE FINANCE AND AUDIT COMMITTEES. Form 990, Part VI, Section B, line 12c THIS IS REVIEWED ANNUALLY AT THE MEETING OF THE FINANCE COMMITTEE AND OF THE BOARD OF DIRECTORS. 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. FORM 990, PART XI, LINE 2C OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT THE FINANCE COMMITTEE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MID-ATLANTIC CHRISTIAN UNIVERSITY FOUNDATION INC C 85550 GAVE MID-ATLANTIC CHRISTIAN UNIVERSITY GRANT FOR FUNDING SCHOLARSHIPS