2024-05-10T17:11:08-05:00 2023-06-30 135565207 KPMG LLP 500 W 5TH ST STE 800 WINSTONSALEM NC 27101 990 2022-07-01 580566167 THE CORPORATION OF MERCER UNIVERSITY CORP 4783012710 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 JAMES S NETHERTON EXEC VP-ADMIN & FIN. 4783012710 2024-05-08 1 JAMES NETHERTON 999009999 1 WHITNEY B HEBRON P01226647 3362753394 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WILLIAM D UNDERWOOD 1501 MERCER UNIVERSITY DR MACON GA 31207 442227617 0 X WWW.MERCER.EDU X 1833 GA SEE SCHEDULE O 50 49 4587 550 0 56290 74299163 62393992 342199645 356344652 19532288 12258136 7000799 3664171 443031895 434660951 103009706 97527781 0 0 184905718 187232894 0 0 3446642 129130270 130223074 417045694 414983749 25986201 19677202 969819190 1048317053 361427295 386390908 608391895 661926145 X SEE SCHEDULE O 0 0 120637888 266317486 THE UNIVERSITY HAS 12 COLLEGES AND SCHOOLS. THE UNIVERSITY'S PROGRAMS INCLUDED LIBERAL ARTS, BUSINESS, ENGINEERING, EDUCATION, MEDICINE, NURSING, PHARMACY, LAW, THEOLOGY, MUSIC, AND HEATH PROFESSIONS. THESE EXPENSES ARE RELATED TO THE DIRECT INSTRUCTION OF HIGHER EDUCATION. THE UNIVERSITY SERVES OVER 9,000 DEGREE SEEKING STUDENTS IN THE 12 COLLEGES AND SCHOOLS. THE UNIVERSITY BESTOWED OVER 2,600 DEGREES FOR THE 2021-2022 SCHOOL YEAR. THE PEACE CORPS HAS NAMED MERCER AMONG THE TOP FOUR PEACE CORP PREP CERTIFICATE GRANTING INSTITUTIONS IN THE UNITED STATES. THE UNIVERSITY'S INSTRUCTION PROVIDES A FOCUS ON UNDERGRADUATE RESEARCH BY PROVIDING STUDENTS WITH HANDS-ON EXPERIENCE THAT COMPLEMENTS THEIR EDUCATION. THE RESEARCH CAN BE INCLUDED IN THEIR COURSE BASED IN LAB WORK OR FACULTY LED RESEARCH. 97150352 97150352 SCHOLARSHIPS:THESE EXPENSES ARE RELATED TO THE SUPPORT PROVIDED TO THE UNIVERSITY'S STUDENTS BASED ON DONOR STIPULATION, NEED, AND MERIT. THE UNIVERSITY PROVIDES SCHOARSHIP AID WITHIN 4 CATEGORIES. MERCER BASED AID SCHOLARSHIPS ARE BASED ON ACADEMIC CREDENTIALS AND THE SCHOLARSHIPS ARE RENEWABLE UP TO 4 YEARS. TALENT BASED AID SCHOLARSHIPS ARE EITHER ATHLETIC SCHOLARSHIPS OR MUSIC SCHOLARSHIPS. NEED BASED AID SCHOLARSHIPS ARE BASED ON ECONOMIC NEED. COMPETITIVE AID SCHOLARSHIPS ARE BASED ON MERIT. OVER 90% OF THE UNIVERSITY'S STUDENTS RECEIVED SCHOLARSHIPS AND DISCOUNTS. 73175105 50580286 AUXILIARY SERVICES:THE UNIVERSITY'S AUXILIARY SERVICES FACILITATES THE CREATION OF COMMUNITY, EXTENDS THE LEARNING ENVIRONMENT BEYOND THE CLASSROOM, AND ENHANCES THE QUALITY OF CAMPUS LIFE THROUGH THE DELIVERY OF QUALITY GOODS AND SERVICES INCLUDING RESIDENCE, DINING SERVICES, CLINIC OPERATIONS, AS WELL AS ATHLETIC AND RETAIL OPERATIONS FOR OVER 9,000 STUDENTS. AUXILIARY SERVICES MAINTAIN THE BEAR CARD SYSTEM WHICH PROVIDES FOR A VARIETY OF DIFFERENT DINING OPTIONS AND EASIER ACCESS FOR STUDENTS TO PAY FOR THOSE OPTIONS. AUXILIARY SERVICES ALSO PROVIDES MAIL AND DOCUMENT SERVICES AS WELL AS CABLE ACCESS FOR THE UNIVERISTY'S STUDENT RESIDENCES. 41425064 377429 39446880 RESEARCH 31457222 0 2486332 ACADEMIC SUPPORT 30746765 0 0 STUDENT SERVICES 2869754 0 0 PUBLIC SERVICE -3492988 0 0 INSTITUTIONAL SUPPORT 103005817 377429 41933212 393969162 1 1 0 1 0 0 1 0 0 1 1 1 0 0 1 1 0 1 1 0 1 1 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 1061 0 1 4587 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 50 49 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X MATTHEW R HALL 4783012771 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 WILLIAM UNDERWOOD PRESIDENT/PROFESSOR OF LAW 40.00 0.00 X X 644415 0 57691 CATHY CALLAWAY ADAMS TRUSTEE 1.00 0.00 X 0 0 0 VIRGIL L ADAMS TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM H ANDERSON II TRUSTEE 1.00 0.00 X 0 0 0 G HOLMES BELL IV TRUSTEE 1.00 0.00 X 0 0 0 THOMAS P BISHOP TRUSTEE 1.00 0.00 X 0 0 0 THE HONORABLE MICHAEL BOGGS TRUSTEE 1.00 0.00 X 0 0 0 CAROLYN TOWNSEND MCAFEE BRUNER TRUSTEE 1.00 0.00 X 0 0 0 MALCOLM S BURGESS JR TRUSTEE 1.00 0.00 X 0 0 0 CHARLES L CANTRELL III TRUSTEE 1.00 0.00 X 0 0 0 JIMMY CARTER TRUSTEE 1.00 0.00 X 0 0 0 LIZA CHAPMAN TRUSTEE 1.00 0.00 X 0 0 0 ASHLEY AMOS COPELAN TRUSTEE 1.00 0.00 X 0 0 0 MILTON L CRUZ TRUSTEE 1.00 0.00 X 0 0 0 HEATHER DARDEN TRUSTEE 1.00 0.00 X 0 0 0 DWIGHT J DAVIS TRUSTEE 1.00 0.00 X 0 0 0 THE HONORABLE NATHAN DEAL TRUSTEE 1.00 0.00 X 0 0 0 TERRY ENGLAND TRUSTEE 1.00 0.00 X 0 0 0 GENE GABBARD TRUSTEE 1.00 0.00 X 0 0 0 ROBERT G GODDARD III TRUSTEE 1.00 0.00 X 0 0 0 ROBERT F HATCHER TRUSTEE 1.00 0.00 X 0 0 0 DR ROY HEAD TRUSTEE 1.00 0.00 X 0 0 0 DAVID E HUDSON TRUSTEE 1.00 0.00 X 0 0 0 GENELLE JENNINGS TRUSTEE 1.00 0.00 X 0 0 0 DR STANLEY DEMETRIUS JONES TRUSTEE 1.00 0.00 X 0 0 0 DR SHAUN KING TRUSTEE 1.00 0.00 X 0 0 0 DR SPENCER B KING III TRUSTEE 1.00 0.00 X 0 0 0 GEN CLAUDE M KICKLIGHTER TRUSTEE 1.00 0.00 X 0 0 0 JULIE LONG TRUSTEE 1.00 0.00 X 0 0 0 A RABUN A MATTHEWS III TRUSTEE 1.00 0.00 X 0 0 0 J THOMAS MCAFEE III TRUSTEE 1.00 0.00 X 0 0 0 THE HONORABLE M YVETTE MILLER TRUSTEE 1.00 0.00 X 0 0 0 JACKIE BAUGH MOORE TRUSTEE 1.00 0.00 X 0 0 0 ELI MORGAN TRUSTEE 1.00 0.00 X 0 0 0 THE HONORABLE MAXINE C MORRIS TRUSTEE 1.00 0.00 X 0 0 0 MARY DIANE OWENS TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM KNOX POU JR TRUSTEE 1.00 0.00 X 0 0 0 JOE SAM ROBINSON JR CHAIR 1.00 0.00 X 0 0 0 THE HONORABLE W LOUIS SANDS TRUSTEE 1.00 0.00 X 0 0 0 CHRIS R SHERIDAN JR TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER NUNN TARBUTTON TRUSTEE 1.00 0.00 X 0 0 0 DR BARBARA BROWN TAYLOR TRUSTEE 1.00 0.00 X 0 0 0 JAMES WILLIAM THOMAS JR TRUSTEE 1.00 0.00 X 0 0 0 THE HONORABLE MARC TREADWELL TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM BRADLEY TURNER JR TRUSTEE 1.00 0.00 X 0 0 0 J HENRY WALKER TRUSTEE 1.00 0.00 X 0 0 0 RAYMOND M WARREN III CHAIR 1.00 0.00 X 0 0 0 CHARLES WATSON JR TRUSTEE 1.00 0.00 X 0 0 0 JERRY S WILSON TRUSTEE 1.00 0.00 X 0 0 0 M TROY WOODS TRUSTEE 1.00 0.00 X 0 0 0 CURTIS G ANDERSON TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 DR JAMES C ELDER JR TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 BENJAMIN W GRIFFITH III TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 J CURTIS LEWIS III TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 DAVID E LINCH TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 WILLIAM A MOYE TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 J REG MURPHY TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 RICHARD A SCHNEIDER TRUSTEE (UNTIL 11/11/2022) 1.00 0.00 X 0 0 0 JAMES NETHERTON EXEC VP - ADMIN & FINANCE 40.00 0.00 X 347561 0 55734 DAVID DAVIS PROVOST/PROFESSOR 40.00 0.00 X 329728 0 68962 PENNY ELKINS SR VP - ENROLLMENT MGMT 40.00 0.00 X 299787 0 47797 JOHN PATTERSON SR VP - UNIV ADVANCEMENT 40.00 0.00 X 275955 0 64265 LARRY BRUMLEY SR VP - MARKETING COMM 40.00 0.00 X 255458 0 29183 KELLIE APPEL SR VP - STRATEGIC INITIATI 40.00 0.00 X 240427 0 57555 JULIA DAVIS AVP FINANCE & TREASURER 40.00 0.00 X 175325 0 21529 MATTHEW HALL INTERIM GENERAL COUNSEL 40.00 0.00 X 173271 0 42457 JEAN SUMNER DEAN/PROFESSOR 40.00 0.00 X 444611 0 50227 ANDREA MITCHELL EXECUTIVE DIRECTOR 40.00 0.00 X 253759 0 49185 ANITA GUSTAFSON DEAN/PROFESSOR OF HISTORY 40.00 0.00 X 160595 0 36021 JOHN HAWKINS ASSOCIATE PROFESSOR 40.00 0.00 X 491811 0 56899 GREGORY GARY HEAD MEN'S BASKETBALL COACH 40.00 0.00 X 302500 0 21572 EDWIN GRIMSLEY SENIOR ASSOCIATE DEAN, MAC 40.00 0.00 X 300308 0 55224 ANDREW CRONIC HEAD FOOTBALL COACH 40.00 0.00 X 299727 0 62960 SUSANNE GARDNER HEAD WOMENS BASKETBALL COACH 40.00 0.00 X 288995 0 42043 5284233 0 819304 377 0 1 0 CHOATE CONSTRUCTION COMPANY 8200 ROBERTS DRIVE SUITE 600 ATLANTA GA 30350 CONSTRUCTION 20603616 ARAMARK SERVICES INC CONNELL STUDENT CENTER MACON GA 312070001 FOOD SERVICE 10155852 BHI CONSTRUCTION INC 1172 HIGHTOWER RD MACON GA 312062904 CONSTRUCTION 5398814 NATIONAL MANAGEMENT RESOURCES CORPORATIO PO BOX 1224 LAGRANGE GA 30241 FACILITIES MANGAGEMT 4046695 ORBIS EDUCATION SERVICES LLC 301 PENNSYLVANIA PKWY STE 400 CARMEL IN 462801396 EDUCATION SERVICES 3447457 143 114797 38750946 23528249 1139578 62393992 TUITION AND FEES 900099 266317486 266317486 AUXILIARY SERVICES 900099 50580286 50580286 GOVERNMENT CONTRACTS 541700 39446880 39446880 356344652 9093812 9093812 785537 785537 6280648 4622287 1658361 1658361 1658361 3980677 348730 1129871 820749 2850806 -472019 2378787 2378787 117517 114797 155855 -38338 -38338 48000 29963 18037 18037 347720 807941 -460221 -460221 MISCELLANEOUS 900099 1014628 1014628 MEDICAL SCHOOL HOSPITA 900099 652492 652492 CC REBATES 900099 458661 458661 360551 360551 2486332 434660951 358830984 0 13435975 359088 359088 97150352 97150352 18341 18341 4243265 1437730 2470445 335090 141024562 129714691 9715323 1594548 8361402 8619929 -370388 111861 25211765 25369028 -543586 386323 8391900 8438530 -182833 136203 211895 56289 155606 476000 476000 32140 32140 26269798 24595870 1479745 194183 1491793 1386967 104826 9005461 7685645 1079271 240545 5575045 3200883 2367194 6968 30465 30465 270760 240600 30160 6788148 6460238 211597 116313 11238721 9393723 1844998 20745837 19110691 1635146 5842107 4572727 1269380 OPERATIONS & MAINTENANC 23036182 19934126 3093227 8829 ADMINISTRATIVE EXPENSES 10230173 19038641 -8854936 46468 PROGRAM & EVENTS 4338102 3339204 732235 266663 INSTRUCTIONAL SUPPLIES 3837551 3822919 14632 0 802896 -39655 839903 2648 414983749 393969162 17567945 3446642 57950864 68245364 1913898 1856753 14169639 15850417 16048394 16042239 767987 777068 795314033 368706863 404923926 426607170 214390527 252858541 234671665 234716039 9055640 8196220 15926650 23167242 969819190 1048317053 22207800 23498699 12722482 11481748 247483257 266244944 53105349 60472601 25908407 24692916 361427295 386390908 X 270723366 297585017 337668529 364341128 608391895 661926145 969819190 1048317053 X 19677202 30055491 3801557 X 0 1 X 1 1 1 X 95719142 105236428 83188166 74299163 62393992 420836891 95719142 105236428 83188166 74299163 62393992 420836891 170514 420666377 9751338 14137402 13602291 16480368 16159997 70131396 16950 16950 7305257 931747 846882 891954 513237 10489077 501474314 1631245487 0.83890 0.85140 X SCHEDULE A, PART II, LINE 10: OTHER INCOME AMOUNTS REPORTED AS OTHER INCOME ON LINE 10 INCLUDE GROSS INCOME FROM FUNDRAISING EVENTS AND GROSS SALES OF INVENTORY. IT WILL ALSO INCLUDE LOAN FUND FEES CHARGED SUCH AS LATE FEES, MERCER POLICE TICKET FEES IF MISSING A PERMIT, LIBRARY FINES, RESIDENCY FEES, EXCHANGE PROGRAM WITH HOSPITALS, AND ETC. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 244013 0 1 32140 276153 0 SCHEDULE C, PART II-B, LINE 1: LOBBYING EXPENSES MERCER UNIVERSITY RETAINS ONE CONSULTANT, RM2 CONSULTANTS, TO PROMOTE LEGISLATION WHICH WOULD PROVIDE MERCER UNIVERSITY WITH FEDERAL FUNDS FOR USE OF VARIOUS UNIVERSITY PROJECTS AND PROGRAMS. ADDITIONALLY, A UNIVERSITY STAFF PERSON WORKED TO SECURE STATE APPROPRIATIONS. X 2 2 1 1 0 24.00 480 1 452556294 4475034 38242969 15329360 479944937 475458642 7415063 -32739267 -2421856 452556294 361437355 12972412 107212953 6164078 475458642 376609510 4582017 -2374397 17379775 361437355 345981665 12243092 13947116 -4437637 376609510 0.32602 0.67397 0 0 596834739 239286438 357548301 137842259 104484401 33357858 60637035 24936024 35701011 426607170 CASH & CASH EQUIVALENTS 4939065 F HEDGED EQUITY FUNDS OF FUNDS 32770980 F PRIV EQTY & VENTURE CAP FUNDS 51089350 F REAL ASSETS 64407294 F MISCELLANEOUS INVESTMENTS 122407 F REMAINDER INTEREST TRUSTS 6033520 F INTEREST IN PERPETUAL TRUSTS 75353423 F 234716039 ACCRUED POSTRETIREMENT BENEFITS 593585 LEASE OBLIGATIONS 3380460 ANNUITY OBLIGATIONS 2830761 ASSET RETIREMENT OBLIGATIONS 4063813 INTEREST RATE SWAPS 261631 ADVANCES FROM FEDERAL GOVERNMENT 13562666 24692916 X PART II, LINE 5: CONSERVATION EASEMENT POLICY THE UNIVERSITY DOES NOT HAVE A FORMAL POLICY BUT THERE IS AN ESTABLISHED PROCEDURE. IT HAS BEEN OUR CONSISTENT PRACTICE TO COMPLY WITH ALL OF THE REQUIREMENTS SET FORTH BY THE GEORGIA STATE HISTORICAL PRESERVATION DIVISION AND ALL OTHER RULES AND GUIDELINES IN EFFECT FOR HISTORICAL PROPERTIES OWNED OR LEASED BY THE UNIVERSITY THAT ARE SUBJECT TO CONSERVATION EASEMENTS OR PRESERVATION COVENANTS. THE CONSERVATION EASEMENTS AND PRESERVATION COVENANTS HELD BY THE UNIVERSITY EXPRESSLY REQUIRE THAT THE SUBJECT PROPERTIES MUST BE PRESERVED IN ACCORDANCE WITH ALL APPLICABLE RULES AND GUIDELINES IN EFFECT FOR SUCH PROPERTIES. SPECIFICALLY, THE COVENANTS REQUIRE: (1) THAT THE UNIVERSITY ENSURE THE CONTINUED MAINTENANCE, REPAIR, AND ADMINISTRATION OF THE PROPERTY SO AS TO PRESERVE THE ARCHITECTURAL, HISTORICAL, OR ARCHAEOLOGICAL INTEGRITY OF THE SAME IN ORDER TO PROTECT AND ENHANCE THOSE QUALITIES THAT MADE THE SITE ELIGIBLE FOR LISTING IN THE NATIONAL REGISTER OF HISTORIC PLACES; (2) THAT NO VISUAL OR STRUCTURAL ALTERATIONS WILL BE MADE TO THE PROPERTY WITHOUT PRIOR WRITTEN PERMISSION OF THE STATE HISTORICAL PRESERVATION DIVISION; AND (3) THAT THE STATE HISTORICAL PRESERVATION DIVISION, ITS AGENTS, AND DESIGNEES SHALL HAVE THE RIGHT TO INSPECT THE PROPERTY AT ALL REASONABLE TIMES IN ORDER TO ASCERTAIN WHETHER OR NOT THE CONDITIONS OF THE COVENANT ARE BEING OBSERVED. THUS, IN PRACTICE, THE UNIVERSITY IS COMPLYING WITH ALL LEGAL REQUIREMENTS REGARDING THE MONITORING, INSPECTION, HANDLING OF VIOLATIONS, AND ENFORCEMENT OF THE CONSERVATION EASEMENTS AND PRESERVATION COVENANTS IT HOLDS, AND THE WRITTEN DOCUMENTS MEMORIALIZING THE UNIVERSITY'S PRESERVATION COVENANTS EXPRESSLY REQUIRE COMPLIANCE WITH THESE LEGAL REQUIREMENTS, AS WELL. PART II, LINE 9: CONSERVATION EASEMENT REPORTING 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, 2023. PART V, LINE 4: ENDOWMENT FUND 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. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE THE UNIVERSITY IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (THE CODE) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE UNIVERSITY'S MANAGEMENT HAS REVIEWED ITS TAX POSITIONS AND DETERMINED THAT IT DOES NOT HAVE MATERIAL UNRECOGNIZED TAX POSITIONS THAT SHOULD BE REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS FOR FISCAL YEAR 2023 OR 2022. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MERCER'S RACIALLY NONDISCRIMINATORY POLICY TOWARD STUDENTS IS PUBLICLY AVAILABLE ON THEIR WEBSITE. SCHEDULE E, PART I, LINE 6 GOVERNMENT FINANCIAL AID & ASSISTANCE THE UNIVERSITY PARTICIPATES IN THE FOLLOWING PROGRAMS: FEDERAL PELL GRANTS, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG), FEDERAL DIRECT SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS, FEDERAL PERKINS LOANS, HEALTH PROFESSIONS STUDENT LOANS, FEDERAL PARENT AND GRAD (PLUS) LOANS, OTHER VARIOUS FEDERAL LOAN PROGRAMS, FEDERAL TEACH GRANT, FEDERAL WORK STUDY PROGRAM, AND VETERANS EDUCATION PROGRAMS. THE UNIVERSITY ALSO RECEIVES VARIOUS FEDERAL GRANTS AND CONTRACTS FOR ACADEMIC AND SCIENTIFIC RESEARCH. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES MERCER ON MISSION 110597 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES MERCER ON MISSION 365775 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MERCER ON MISSION 594519 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES MERCER ON MISSION 91478 SOUTH AMERICA 0 0 PROGRAM SERVICES MERCER ON MISSION 92438 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES MERCER ON MISSION 39547 NORTH AMERICA 0 0 PROGRAM SERVICES MERCER ON MISSION 138358 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 9562 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 108492 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 24929 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 781 EUROPE 0 0 PROGRAM SERVICES SITE VISIT 353 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT 1100 EUROPE 0 0 PROGRAM SERVICES RECRUITMENT 500 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITMENT 16267 SOUTH AMERICA 0 0 GRANTMAKING 18341 0 0 0 0 0 0 1442274 170763 1613037 SOUTH AMERICA RESEARCH 18341 ELECTRONIC FUND TRANSFER 0 1 0 1 0 1 1 1 0 PART I, LINE 2: MERCER UNIVERSITY REQUIRES SUBRECIPIENTS TO SUBMIT PERFORMANCE AND FINANCIAL STATUS REPORTS UPON REQUEST. THE UNIVERSITY OBTAINS AND REVIEWS THE SINGLE AUDIT REPORT FROM SUBRECIPIENTS WHO RECEIVE IN EXCESS OF $750,000 OF FEDERAL FUNDS DURING THE FISCAL YEAR. IF THE PROSPECTIVE SUBRECIPIENT DOES NOT HAVE A SINGLE AUDIT, THE UNIVERSITY MAY PERFORM SITE VISITS. PART III ACCOUNTING METHOD: AUTHOR'S LUNCHEON 89970 71443 18527 0 0 0 0 0 67224 EXECUTIVE FORUM 43354 43354 0 0 0 0 0 53639 2 98990 0 98990 11400 0 0 12069 0 41487 232314 114797 117517 11400 12069 162350 185819 -68302 48000 15000 14963 0 48000 15000 14963 29963 18037 GA 1 0 0 0 1.00000 CORY BARTON 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 0 CORY BARTON 0 MANAGED RAFFLE, MANAGED BOOKS, PROVIDED REPORTS ON RAFFLE. X 0 1 EAST GEORGIA HEALTHCARE CENTER INC 215 N COLEMAN STREET SWAINSBORO GA 30401 582001607 501(C)(3) 119886 0 RESEARCH FORDHAM UNIVERSITY 441 E FORDHAM RD FMH 519 BRONX NY 104585149 131740451 501(C)(3) 27176 0 RESEARCH GEORGIA COUNCIL ON SUBSTANCE ABUSE 2310 PARK LAKE DRIVE SUITE 540 TUCKER GA 303452904 582045112 501(C)(3) 181785 0 RESEARCH DALTON STATE COLLEGE 650 COLLEGE DRIVE DALTON GA 30720 580975068 501(C)(3) 30240 0 INSTRUCTION 4 STUDENT FINANCIAL AID ASSISTANCE 5903 97150352 PART I, LINE 2: MERCER UNIVERSITY REQUIRES SUBRECIPIENTS TO SUBMIT PERFORMANCE AND FINANCIAL STATUS REPORTS UPON REQUEST. THE UNIVERSITY OBTAINS AND REVIEWS THE SINGLE AUDIT REPORT FROM SUBRECIPIENTS WHO RECEIVE IN EXCESS OF $750,000 OF FEDERAL FUNDS DURING THE FISCAL YEAR. IF THE PROSPECTIVE SUBRECIPIENT DOES NOT HAVE A SINGLE AUDIT, THE UNIVERSITY MAY PERFORM SITE VISITS. 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 OR ACT SCORES AND GRADE POINT AVERAGES AND ARE AWARDED BY THE OFFICE OF ADMISSIONS IN THE INITIAL YEAR. ONCE THE STUDENT PROCEEDS TO SECOND YEAR, THE ACADEMIC SCHOLARSHIPS ARE AWARDED BY FINANCIAL PLANNING. 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 1 1 X X 0 0 0 0 0 0 0 0 0 WILLIAM UNDERWOOD PRESIDENT/PROFESSOR OF LAW 644415 0 0 0 0 0 30500 0 27191 0 702106 0 0 0 JOHN HAWKINS ASSOCIATE PROFESSOR 491811 0 0 0 0 0 30500 0 26399 0 548710 0 0 0 JEAN SUMNER DEAN/PROFESSOR 444611 0 0 0 0 0 27000 0 23227 0 494838 0 0 0 JAMES NETHERTON EXEC VP - ADMIN & FINANCE 347561 0 0 0 0 0 30500 0 25234 0 403295 0 0 0 DAVID DAVIS PROVOST/PROFESSOR 329728 0 0 0 0 0 30500 0 38462 0 398690 0 0 0 ANDREW CRONIC HEAD FOOTBALL COACH 299727 0 0 0 0 0 30500 0 32460 0 362687 0 0 0 EDWIN GRIMSLEY SENIOR ASSOCIATE DEAN, MAC 300308 0 0 0 0 0 30500 0 24724 0 355532 0 0 0 PENNY ELKINS SR VP - ENROLLMENT MGMT 299787 0 0 0 0 0 30450 0 17347 0 347584 0 0 0 JOHN PATTERSON SR VP - UNIV ADVANCEMENT 275955 0 0 0 0 0 28700 0 35565 0 340220 0 0 0 SUSANNE GARDNER HEAD WOMENS BASKETBALL COACH 288995 0 0 0 0 0 29100 0 12943 0 331038 0 0 0 GREGORY GARY HEAD MEN'S BASKETBALL COACH 302500 0 0 0 0 0 18150 0 3422 0 324072 0 0 0 ANDREA MITCHELL EXECUTIVE DIRECTOR 253759 0 0 0 0 0 26206 0 22979 0 302944 0 0 0 KELLIE APPEL SR VP - STRATEGIC INITIATI 240427 0 0 0 0 0 22640 0 34915 0 297982 0 0 0 LARRY BRUMLEY SR VP - MARKETING COMM 255458 0 0 0 0 0 25602 0 3581 0 284641 0 0 0 MATTHEW HALL INTERIM GENERAL COUNSEL 173271 0 0 0 0 0 10863 0 31594 0 215728 0 0 0 JULIA DAVIS AVP FINANCE & TREASURER 175325 0 0 0 0 0 17670 0 3859 0 196854 0 0 0 ANITA GUSTAFSON DEAN/PROFESSOR OF HISTORY 160595 0 0 0 0 0 16555 0 19466 0 196616 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. THIS WAS NOT TREATED AS TAXABLE COMPENSATION. PENNY ELKINS, MERCER UNIVERSITY EXECUTIVE VICE PRESIDENT, RECEIVED A PROVISION OF HOUSING FOR BUSINESS USE. THIS WAS NOT TREATED AS TAXABLE COMPENSATION. JAMES NETHERTON, EXECUTIVE VICE PRESIDENT OF ADMINISTRATION AND FINANCE, RECEIVED A CORPORATE MEMBERSHIP TO A SOCIAL CLUB. THIS WAS NOT TREATED AS TAXABLE INCOME. A PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2013) 581407780 000000000 2013-05-30 70350273 SEE PART VI 0 0 0 B PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2015) 581407780 74265LG93 2015-07-17 79547573 CONSTRUCTION/CAPITAL IMPROVEMENTS 0 0 0 C PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2012B) 581407780 74265LJ90 2015-11-02 8727829 SEE PART VI 0 0 0 D PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2021) 581407780 74265LX37 2021-07-06 84892839 SEE PART VI 0 0 0 A 14014721 70350273 290049 12000000 58060224 2013 1 0 1 1 B 2062573 79547573 939287 78608285 2018 0 0 1 1 C 4042829 8727829 133327 8594502 2012 1 0 1 1 D 17467839 84964714 909942 37690560 46293825 814798 1 0 0 1 A 0 1 1 1 1 1 0.00200 0.00000 0.00200 0 0 1 B 0 0 1 1 1 1 0 0 1 C 0 1 1 1 1 1 0 0 1 D 0 1 1 1 1 1 0 0 1 A 0 0 0 1 0 1 1271 COUNTERPARTY CO 3.300000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2013) DATE THE REBATE COMPUTATION WAS PERFORMED: 10/30/2018 ISSUER NAME: PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2015) DATE THE REBATE COMPUTATION WAS PERFORMED: 10/01/2018 ISSUER NAME: PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2021) DATE THE REBATE COMPUTATION WAS PERFORMED: 10/19/2023 ISSUER NAME: PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2022) DATE THE REBATE COMPUTATION WAS PERFORMED: 10/19/2023 SCHEDULE K, PART I, COLUMN F BOND A (SERIES 2013): REFUNDING ISSUE FOR SERIES 2006A AND 2006C BONDS (ISSUED 5/19/2006) AND SERIES 2011 BOND (ISSUED 10/19/2011). BOND C (SERIES 2012B): REFUNDING FOR SERIES 2012B BOND (ISSUED 2/16/2012). BOND D (SERIES 2011): CONSTRUCTION AND CAPITAL IMPROVEMENTS TO CAMPUS BUILDINGS - $37,690,560 AND REFUNDING FOR SERIES 2012A BOND (ISSUED 2/16/2012) - $46,293,825. BOND A (SERIES 2022): CONSTRUCTION AND CAPITAL IMPROVEMENTS TO CAMPUS BUILDINGS - $30,000,000 AND REFUNDING FOR SERIES 2012C BOND (ISSUED 5/15/2012 - $19,520,400. SCHEDULE K, PART IV, LINE 2B: BOND C (SERIES 2012B): SIX MONTH EXCEPTION TO REBATE UNDER IRC SEC. 148(F) A PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY (SERIES 2022) 581407780 74265LZ92 2022-07-06 50266765 SEE PART VI 0 0 0 A 5346765 50973176 745194 30001171 19520400 10990161 1 0 0 1 A 0 0 1 1 1 1 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 X 12122 846274 AVG HIGH/LOW OF DAY X 46 30580 APPRAISAL X 2 1864 FMV X SCI EQUIPMENT 64 171860 APPRAISAL X NON-SCI EQUIPMENT 5 89000 FMV 3 0 1 1 FORM 990, SCHEDULE M, LINE 32A: USE OF THIRD PARTIES MERCER UNIVERSITY USES THIRD PARTY STOCK BROKERS TO PROCESS NON-CASH CONTRIBUTIONS. FORM 990, PART I, LINE 1 BRIEF MISSION MERCER UNIVERSITY'S MISSION IS TO TEACH, TO LEARN, TO CREATE, TO DISCOVER, TO INSPIRE, TO EMPOWER, AND TO SERVE. FORM 990, PART III, LINE 1 MERCER UNIVERSITY'S MISSION IS TO TEACH, TO LEARN, TO CREATE, TO DISCOVER, TO INSPIRE, TO EMPOWER AND TO SERVE. IN FULFILLING THIS MISSION, THE UNIVERSITY SUPPORTS UNDERGRADUATE, GRADUATE, AND PROFESSIONAL LEARNING AS WELL AS BASIC RESEARCH AND ITS APPLICATION IN SERVICE TO OTHERS. AS A UNIVERSITY COMMITTED TO EXCELLENCE AND INNOVATION, MERCER CHALLENGES MEMBERS OF ITS COMMUNITY TO MEET AND EXCEED HIGH STANDARDS IN THEIR TEACHING, LEARNING, RESEARCH, SCHOLARSHIP AND SERVICE. FOUNDED BY BAPTISTS IN 1833, MERCER IS AN INDEPENDENT UNIVERSITY THAT REMAINS GROUNDED IN A TRADITION THAT EMBRACES FREEDOM OF THE MIND AND SPIRIT, CHERISHES THE EQUAL WORTH OF EVERY INDIVIDUAL, AND COMMITS TO SERVING THE NEEDS OF HUMANKIND. AS A REFLECTION OF THIS HERITAGE: O WE ENCOURAGE OUR STUDENTS TO DISCOVER AND DEVELOP FULLY THEIR UNIQUE COMBINATION OF GIFTS AND TALENTS TO BECOME LEADERS WHO MAKE A POSITIVE DIFFERENCE IN THE WORLD. O WE SEEK TO INSPIRE MEMBERS OF OUR COMMUNITY TO LIVE VIRTUOUS MEANINGFUL LIVES BY USING THEIR GIFTS AND TALENTS TO SERVE THE NEEDS OF HUMANKIND AS AN EXPRESSION OF THEIR LOVE FOR GOD AND NEIGHBOR. O WE SEEK TO ENRICH THE MIND AND SPIRIT BY PROMOTING AND FACILITATING AN OPEN AND RIGOROUS SEARCH FOR TRUTH AND UNDERSTANDING, INCLUDING AN EXAMINATION OF THE MORAL, RELIGIOUS AND ETHICAL QUESTIONS OF THIS AND EVERY AGE. O WE AFFIRM AND RESPECT THE DIGNITY AND SACRED WORTH OF EVERY PERSON AND CELEBRATE BOTH OUR COMMONALITIES AND OUR DIFFERENCES. FORM 990, PART III, LINE 4A INSTRUCTION: THE UNIVERSITY HAS 12 COLLEGES AND SCHOOLS. THE UNIVERSITY'S PROGRAMS INCLUDED LIBERAL ARTS, BUSINESS, ENGINEERING, EDUCATION, MEDICINE, NURSING, PHARMACY, LAW, THEOLOGY, MUSIC, AND HEATH PROFESSIONS. THESE EXPENSES ARE RELATED TO THE DIRECT INSTRUCTION OF HIGHER EDUCATION. THE UNIVERSITY SERVES OVER 9,000 DEGREE SEEKING STUDENTS IN THE 12 COLLEGES AND SCHOOLS. THE UNIVERSITY BESTOWED OVER 2,600 DEGREES FOR THE 2022-2023 SCHOOL YEAR. THE PEACE CORPS HAS NAMED MERCER AMONG THE TOP FOUR PEACE CORP PREP CERTIFICATE GRANTING INSTITUTIONS IN THE UNITED STATES. THE UNIVERSITY'S INSTRUCTION PROVIDES A FOCUS ON UNDERGRADUATE RESEARCH BY PROVIDING STUDENTS WITH HANDS-ON EXPERIENCE THAT COMPLEMENTS THEIR EDUCATION. THE RESEARCH CAN BE INCLUDED IN THEIR COURSE BASED IN LAB WORK OR FACULTY LED RESEARCH. OVER 39 STUDENTS MADE RESEARCH PRESENTATIONS AT THE 6TH ANNUAL SOCON UNDERGRADUATE RESEARCH FORUM. 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. IN ADDITION, DURING THE TAX YEAR BEGINNING JULY 1, 2021 AND ENDING JUNE 30, 2022, THERE WERE FIVE (5) LIFE TRUSTEES 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 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 FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIPS MEMBERS OF THE BOARD CAROLYN MCAFEE BRUNER AND J. THOMAS MCAFEE, III HAVE A FAMILY RELATIONSHIP. MEMBERS OF THE BOARD NANCY A. GRACE AND DAVID E. LINCH HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO THE GOVERNING DOCUMENTS THE BYLAWS WERE AMENDED ON NOVEMBER 11, 2022, TO REFLECT REVISIONS IN (I) ARTICLE XIX, SECTION 5; (II) ARTICLE II, SECTION 2; AND (III) ARTICLE XIII, SECTION 3 RELATED TO BOARD SELF-ASSESSMENT, MISSION STATEMENT REVIEW AND PRESIDENTIAL EVALUATION. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 PRIOR TO FILING, THE FORM 990 WAS REVIEWED IN DETAIL BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. A COPY OF THE FINALIZED FORM 990 WAS THEN DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH WRITTEN CONFLICT OF INTEREST POLICY AT EACH ANNUAL MEETING OF THE BOARD OF TRUSTEES, EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE OF THE UNIVERSITY IS REQUIRED (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. FORM 990, PART VI, SECTION B, LINE 15 DETERMINING COMPENSATION 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. FORM 990, PART VI, SECTION C, LINE 19 MAKING DOCUMENTS AVAILABLE TO THE PUBLIC 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 (HTTP://EMMA.MSRB.ORG). 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. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST OBLIGATIONS 250,667. CHANGE IN FV OF INTEREST RATE SWAPS 483,215. NET CHANGE IN BENEFICIAL TRUSTS 1,851,042. AMORTIZATION BOND PREMIUM 1,216,633. MERCER MEDICINE LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 204846017 PRACTICE PLAN GA MERCER UNIV ABRAM PROPERTIES LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 PROPERTY INV GA MERCER UNIV PRESCHOOL PROPERTIES LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 PROPERTY INV GA MERCER UNIV DLESLIE LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV PIO NONO STABILIZATION LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV MERCER GSA LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV WM GRAY INVESTMENTS LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 823461279 REAL ESTATE GA MERCER UNIV MACON HISTORIC IMPROVEMENTS LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV BARNEY'S INVESTMENTS LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 842891090 REAL ESTATE GA MERCER UNIV FARRPOINT STATION LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV BROWNPHIL LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV LINDEN AVE LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 REAL ESTATE GA MERCER UNIV HISTORIC CAPRICORN STUDIOS MANAGER LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 821296457 TAX CREDITS GA MERCER UNIV HISTORIC NEW YORK CAF MANAGER LLC 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 832713372 TAX CREDITS GA MERCER UNIV SAVANNAH CTR FOR MED EDU & RES 1400 COLEMAN AVENUE MACON GA 31207 471772525 REAL ESTATE GA MERCER UNIV EXCLUDED -384320 12534046 0 1 0.68310 REMAINDER INTEREST TRUSTS (27) 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 CHARITABLE TRUST GA MERCER UNIV T 0 PERPETUAL TRUSTS (12) 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 CHARITABLE TRUST GA MERCER UNIV T 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 SAVANNAH CENTER FOR MEDICAL EDUCATION AND RESEARCH K 84000 FMV