2011-05-16T13:29:19-05:00 2010-06-30 LARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2009-07-01 596605703 HODGES UNIVERSITY INC HODG 8004668017 2655 NORTHBROOKE DRIVE NAPLES FL 34119 RANDY ELDRIDGE 8004668017 2011-05-13 1 6123764500 2009 2016-02-24 21:20:13Z TERRY MCMAHAN 2655 NORTHBROOKE DRIVE NAPLES FL 34119 37605967 0 X WWW.HODGES.EDU X 1990 FL DEGREE PROGRAMS TO ENHANCE THE ABILITY OF STUDENTS TO ACHIEVE LIFE OR CAREER OBJECTIVES. 12 9 418 175 0 0 549869 616625 25418533 35923436 60088 -192072 -84332 133582 25944158 36481571 3148078 0 14382586 16210814 28189 60000 547372 7763825 8984300 22174600 28403192 3769558 8078379 43254588 52427767 22354122 23594643 20900466 28833124 THE MISSION OF HODGES UNIVERSITY IS TO OFFER ASSOCIATE, BACCALAUREATE AND GRADUATE DEGREES AS WELL AS OTHER PROGRAMS WHICH ENHANCE THE ABILITY OF STUDENTS TO ACHIEVE LIFE OR CAREER OBJECTIVES. 0 0 23232919 3112313 36060490 Hodges University is Regionally accredited and awards Associate, Bachelor's and Master's degrees. The University has approximately 3,000 students on campuses in Naples and Fort Myers, Florida. The Programs of the University are as follows: 12 associate degrees 11 bachelor's degrees 9 graduate degrees 21 online degrees English as a second language Lifelong learning classes at the Frances Pew Hayes Center for Lifelong Learning Schools: Johnson School of Business School of Allied Health Nichols School of Professional Studies School of Technology Providing students with programs that prepare them for careers, Hodges University believes in flexible class scheduling, allowing students to attend weekly classes that suit their busy lifestyles. The University also meets the needs of today's students by offering a wide variety of academic delivery methods and student services, both on campus and in the distance education arena. 23232919 1 1 0 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 15 0 1 418 1 0 0 0 0 0 1 1 0 0 0 12 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 FL X RANDY L ELDRIDGE 8004668017 2655 NORTHBROOKE DRIVE NAPLES FL 34119 JOHN J AGNELLI 5.00 X X 0 0 0 KEITH ARNOLD 5.00 X 0 0 0 DR JOSEPH DONAHUE 5.00 X 0 0 0 TODD GATES 5.00 X 0 0 0 JAMES HUMPHREY 5.00 X 0 0 0 TERRENCE IGO 5.00 X 0 0 0 LESLIE KING 5.00 X 0 0 0 GERARD A MCHALE JR 5.00 X 0 0 0 KATHLEEN PASSIDOMO 5.00 X 0 0 0 MICHAEL PROLETTI 5.00 X 0 0 0 JAMES STAMPER 5.00 X 0 0 0 SANDRA STILLWELL 5.00 X 0 0 0 TERRY MCMAHAN 40.00 X 1833102 0 5400 JEANETTE BROCK 40.00 X 1186450 0 0 JOHN W WHITE 40.00 X 225966 0 150738 LOUIS TRAINA 40.00 X 178546 0 15649 FREDERICK NERONE 40.00 X 167600 0 15370 NANCY WYANT 40.00 X 152628 0 14904 GEORGE BOWMAN 40.00 X 124007 0 12969 RITA LAMPUS 40.00 X 116802 0 12339 CAROL MORRISON 40.00 X 118277 0 12285 DAVID RICE 40.00 X 145340 0 8940 JOHN MEYER 40.00 X 115536 0 12401 4364254 0 260995 16 0 1 0 0 192012 424613 616625 TUITION AND FEES 611600 35923436 35923436 35923436 42447 42447 420389 401142 253766 19247 -253766 -234519 -234519 159246 192012 162718 -3472 -3472 443824 306770 137054 137054 36481571 36060490 0 -195544 35765 35765 3112313 3112313 1228955 342878 886077 11931302 10583974 1010029 337299 1226816 1152755 54345 19716 876975 865966 9409 1600 946766 808926 117083 20757 29912 29912 32400 32400 30000 30000 60000 60000 355752 88405 263198 4149 928318 920144 6844 1330 919263 717671 163140 38452 1346671 548671 798000 996735 996735 505844 240280 222385 43179 177560 124193 39529 13838 315563 315563 1568740 1568740 244533 223413 21120 EQUIPMENT RENTAL/MAINT 606914 143228 463686 BAD DEBT EXPENSE 397074 397074 LIBRARY RESOURCES 243339 243339 DUES AND SUBSCRIPTIONS 146068 60315 78648 7105 GRADUATION EXPENSES 96166 96166 43448 43479 22 -53 28403192 23232919 4622901 547372 228805 2309640 9827350 13178525 5819313 5645897 1271050 781299 94877 88708 120123 529241 37385804 9043425 25724649 28342379 94217 1482481 74204 69597 43254588 52427767 1844743 2970736 3716460 4974550 16255000 15485000 537919 164357 22354122 23594643 X 14937186 23000180 5963280 5832944 20900466 28833124 43254588 52427767 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 36000 0 0 36000 0 Part IV, Supplemental Information: A FEE OF $30,000 WAS PAID TO A MANAGEMENT CONSULTING FIRM TO SUPPORT THE INTERESTS OF THE UNIVERSITY; NO MONIES WERE PAID IN SUPPORT OF OR IN OPPOSITION TO ANY CANDIDATE FOR POLITICAL OFFICE. 7950853 7950853 18232004 2721474 15510530 2026504 127596 1898908 6603796 3829882 2773914 2572647 2364473 208174 28342379 36481571 28403192 8078379 7191 -318261 165349 -145721 7932658 33845937 7191 469488 476679 33369258 3112313 3112313 36481571 25760367 469488 469488 25290879 3112313 3112313 28403192 Part XI, Line 8 - Other Adjustments: CHANGE IN VALUE OF DEFINED BENEFIT EXECUTIVE RETIREMENT PLAN: 90274. INTEREST RATE SWAP ADJUSTMENT: 75075. Part XII, Line 2d - Other Adjustments: COST OF GOODS SOLD: 306770. SPECIAL EVENT EXPENSES: 162718. Part XII, Line 4b - Other Adjustments: INSTITUTIONAL AID: 3112313. Part XIII, Line 2d - Other Adjustments: COST OF GOODS SOLD: 306770. SPECIAL EVENT EXPENSES: 162718. Part XIII, Line 4b - Other Adjustments: INSTITUTIONAL AID: 3112313. 1 1 1 THE UNIVERSITY'S POLICY STATEMENT IS INCLUDED IN ITS MESSAGE TO THE PUBLIC: HODGES UNIVERSITY, AS AN OPEN, CREATIVE AND COMMUNITY-CONSCIOUS EDUCATIONAL INSTITUTION, MUST FULFILL ITS MISSION IN THE CLIMATE OF A CHANGING WORLD. THAT EACH STUDENT, AS A UNIQUE PERSON, DESERVES A PROGRAM OF STUDIES AND VARIED EXPERIENCES FOR PERSONAL GROWTH WITHOUT REGARD TO RACE, COLOR, GENDER, SEXUAL ORIENTATION, RELIGION, CREED, NATIONAL ORIGIN, POLITICAL OPINIONS OR AFFILIATIONS, DISABLED VETERAN STATUS, DISABILITY, OR AGE AS PROVIDED BY LAW AND IN ACCORDANCE WITH THE UNIVERSITY'S RESPECT FOR PERSONAL DIGNITY. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 HODGES UNIVERSITY, INC. PARTICIPATES IN BOTH STATE AND FEDERAL STUDENT FINANCIAL ASSISTANCE PROGRAMS. VIRTUALLY ALL FUNDS RECEIVED THROUGH THESE PROGRAMS ARE IMMEDIATELY CREDITED TO STUDENT ACCOUNTS FOR PAYMENT OF TUITION, FEES AND BOOKS. EXCESS FUNDS ARE DELIVERED TO STUDENTS ACCORDING TO PROGRAM REQUIREMENTS. SOME PROGRAMS PROVIDE A SMALL ADMINISTRATIVE ALLOWANCE FOR THE INSTITUTION. 1 X X X X X X 1 WILLIAM MERWIN PLANNED GIVING 0 0 60000 -60000 60000 -60000 FL GOLF TOURNAMENT 183830 114646 69184 0 1600 28236 29637 300 9411 HUMANITARIAN LUNCH 137438 73090 64348 0 0 0 36635 0 31185 1 29990 4276 25714 0 0 1942 5954 0 17818 351258 192012 159246 1600 30178 72226 300 58414 162718 -3472 0 AMERICAN NATIONAL RED CROSS COLLIER OCOUNTY CHAPTER 2610 NORTHBROOKE PLAZA DR NAPLES FL 34119 591420958 501(c)(3) 11845 HAITI EARTHQUAKE RELIEF 1 INSTITUTIONAL AID 2064 3112313 0 N/A N/A X X X 0 1 0 0 0 0 0 0 0 TERRY MCMAHAN 267582 0 0 0 1565520 0 0 0 5400 0 1838502 0 1115542 0 JEANETTE BROCK 225000 0 0 0 961450 0 0 0 0 0 1186450 0 622906 0 JOHN W WHITE 225966 0 0 0 0 0 145338 0 5400 0 376704 0 0 0 LOUIS TRAINA 172546 0 0 0 6000 0 10249 0 5400 0 194195 0 0 0 FREDERICK NERONE 167600 0 0 0 0 0 9970 0 5400 0 182970 0 0 0 NANCY WYANT 152628 0 0 0 0 0 9504 0 5400 0 167532 0 0 0 DAVID RICE 145340 0 0 0 0 0 8940 0 0 0 154280 0 0 0 Part I, Line 4a TERRY P. MCMAHAN - CONTRIBUTION TO A 457(F) NON-QUALIFIED EXECUTIVE RETIREMENT PLAN - $195,338. THE AMOUNT REPORTED ON SCHEDULE J COLUMN B(III) IS THE AMOUNT WHICH BECAME TAXABLE TO THE INDIVIDUAL IN 2009. JEANETTE BROCK - CONTRIBUTION TO 457(F) NON-QUALIFIED EXECUTIVE RETIREMENT PLAN - $104,786. THE AMOUNT REPORTED ON SCHEDULE J COLUMN B(III) IS THE AMOUNT WHICH BECAME TAXABLE TO THE INDIVIDUAL IN 2009. JOHN H. WHITE - CONTRIBUTION TO A 457(F) NON-QUALIFIED EXECUTIVE RETIREMENT PLAN - $145,338. THE AMOUNT REPORTED ON SCHEDULE J COLUMN C IS NOT TAXABLE TO THE INDIVIDUAL IN 2009. Supplemental Information Part III THE UNIVERSITY ESTABLISHED A DEFINED BENEFIT EXECUTIVE RETIREMENT PLAN FOR THREE KEY EXECUTIVES ON JULY 1, 2003. THE PLAN CALLS FOR AN ACCUMULATION OF 3% PER YEAR OF SERVICE UP TO A MAXIMUM OF 75%. THAT PERCENTAGE IS THEN APPLIED TO THE AVERAGE OF THE MOST RECENT FIVE YEARS' SALARY FOR EACH PARTICIPANT, FACTORED THROUGH AN ACTUARIAL COMPUTATION BASED ON A STANDARD MORTALITY TABLE. THE PLAN IS A NONQUALIFIED DEFERRED COMPENSATION PLAN, COVERED BY IRC SECTION 457(F) FOR TAX EXEMPT ENTITIES. PARTICIPANTS BECOME VESTED IN THE PLAN UPON SEPARATION FROM SERVICE ON OR AFTER REACHING NORMAL RETIREMENT AGE (AGE 60), OR THROUGH OTHER EVENTS ASSOCIATED WITH DEATH OR DISABILITY. UNDER SECTION 457(F), THE COMPENSATION CAN ONLY BE DEFERRED AS LONG AS THE BENEFIT IS SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE. THE UNIVERSITY HAS INTERPRETED THIS TO MEAN THAT THE PARTICIPANTS MUST BE TAXED ON THE BENEFIT ACCRUED ON THEIR 60TH BIRTHDAYS, AS WELL AS ANNUALLY FOR ANY ADDITIONAL ACCRUED BENEFIT, EVEN THOUGH THE BENEFITS WILL NOT BE DISTRIBUTED UNTIL AFTER THE PARTICIPANTS RETIRE. THE PLAN CONTAINS A PROVISION THAT ALLOWS THE UNIVERSITY TO ADVANCE THE TAXES DUE IN THESE CIRCUMSTANCES. SUCH TAXES ADVANCED REDUCE THE REMAINING LIABILITY TO BE PAID TO THE PARTICIPANTS. ALTHOUGH THE PLAN ITSELF IS UNFUNDED, THE UNIVERSITY ALSO ESTABLISHED AN EXECUTIVE RETIREMENT TRUST IN 2003 TO ACCUMULATE FUNDS THROUGH LIFE INSURANCE POLICIES FOR ALL THREE PARTICIPANTS. THE ANNUAL CONTRIBUTION TO THE INSURANCE POLICIES IS DETERMINED BY ACTUARIAL COMPUTATION WHICH WILL ACCUMULATE TO A CASH VALUE APPROXIMATING THE PROJECTED RETIREMENT LIABILITY FOR EACH PARTICIPANT. THE BENEFICIARY OF THE LIFE INSURANCE POLICIES IS THE EXECUTIVE RETIREMENT TRUST. NONE OF THE AMOUNTS RELATED TO THE EXECUTIVE RETIREMENT PLAN WHICH ARE REQUIRED TO BE REPORTED IN FORM 990, PART VII AND SCHEDULE J, PART II HAVE BEEN DISBURSED TO THE PARTICIPANTS, NOR ARE THE AMOUNTS AVAILABLE TO THE PARTICIPANTS UNTIL THEY RETIRE. SCHEDULE J COLUMN F DETAILS THE PORTION OF THE AMOUNTS REPORTED IN COLUMN C THAT WAS REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS' FORM 990S. COLLIER CTY ED FAC AUTHORITY 650915682 19463TAA4 2004-04-21 19245000 REFUND OLD BONDS AND FINANCE NEW LAND & BUILING 0 0 19245000 494100 14076560 2005 1 0 1 1 0 0 0 0 0 1 1 1 1 FIFTH THIRD BANK 7.000000000000 0 0 0 Form 990, Part VI, Section A, line 1 THE UNIVERSITY'S EXECUTIVE COMMITTEE CONSISTS OF NOT LESS THAN THREE BUT NOT MORE THAN SIX MEMBERS OF THE BOARD OF TRUSTEES INCLUDING ONE OFFICER THAT IS APPOINTED BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE FULL BOARD OF TRUSTEES BETWEEN MEETINGS WITH ANY ACTIONS UNDERTAKEN TO BE RATIFIED BY THE FULL BOARD AT THE NEXT REGULARLY SCHEDULED MEETING. Form 990, Part VI, Section B, line 11 Management will undertake a comprehensive review of the Form 990 and its schedules immediately upon its completion, and will address all of its questions and concerns with the preparer. University policy provides for the provision of a copy of the completed return to all members of the Governing Board in advance of filing. However, the Governing Board has authorized Management to file the return in advance of its distribution to all members, should circumstances dictate that necessity. In such a case, the return will be distributed to all members of the Governing Board as quickly after filing as possible, with the Board acting formally to accept the return not later than its next scheduled meeting. Form 990, Part VI, Section B, line 12c ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE STATEMENTS. THE STATEMENTS ARE REVIEWED BY THE SENIOR MANAGEMENT AND THE INDEPENDENT AUDITOR TO DETERMINE IF ANY RELATIONSHIPS NEED TO BE DISCLOSED IN THE AUDITED FINANCIAL STATEMENTS OR THE FORM 990. IN CASE OF ANY POTENTIAL REAL OR PERCEIVED CONFLICT OF INTEREST, AFFILIATED PERSONS ARE EXPECTED TO DISCLOSE THE CONFLICT IN ADVANCE. ONCE SUCH A DISCLOSURE HAS BEEN MADE, THE CHAIRMAN OF THE BOARD OF TRUSTEES SHALL DETERMINE WHETHER OR NOT THERE IS A POTENTIAL CONFLICT OF INTEREST. IF IT IS DETERMINED THAT THERE IS A POTENTIAL CONFLICT OF INTEREST, THE AFFILIATED PERSON INVOLVED SHALL ABSTAIN FROM VOTING AND SHALL NOT PARTICIPATE IN THE DISCUSSION OF THE MATTER AT ISSUE EXCEPT TO STATE BRIEFLY HIS OR HER POSITION IN THE MATTER AND TO ANSWER SPECIFIC QUESTIONS. THIS ABSTENTION SHALL BE REFLECTED IN THE MEETING MINUTES. Form 990, Part VI, Section B, line 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES COMPENSATION FOR THE PRESIDENT (CEO), THE SECRETARY AND THE TREASURER. THE COMMITTEE CONSIDERS COMPARABILITY DATA AMONG MANY OTHER FACTORS TO DETERMINE THE APPROPRIATE COMPENSATION. MINUTES ARE PRODUCED AT EACH MEETING OF THE COMMITTEE AND THEIR RECOMMENDATIONS MUST BE APPROVED BY THE FULL BOARD OF TRUSTEES. THE LAST REVIEW AND APPROVAL OF COMPENSATION WAS DONE IN 2010. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. HODGES UNIVERSITY FOUNDATION 2655 NORTHBROOKE DRIVE NAPLES FL 34119 651176465 RAISE & INVEST ENDOWMENT FUNDS FL 501(c)(3) Line 11b, II N/A 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0