2024-02-21T09:23:51-06:00 2023-06-30 BDO USA 421 Fayetteville Street Suite 300 Raleigh NC 27601 990 2022-07-01 560657294 METHODIST UNIVERSITY INC % DAWN AUSBORN METH 9106307000 5400 Ramsey St Fayetteville NC 28311 Dawn F Ausborn CFO 9106307000 2024-02-20 true Dawn F Ausborn 999009999 SANDRA L FEINSMITH P01064157 9192781936 2024-02-20 2 2022 2023-04-26 12:10:37Z Stanley T Wearden 5400 Ramsey St Fayetteville NC 28311 107823787 false X www.methodist.edu X 1956 NC UNDERGRADUATE AND GRADUATE EDUCATION 29 28 1127 29 0 0 18826296 8417940 68484455 66695545 1696583 699818 503543 663042 89510877 76476345 27360503 25292936 0 0 30141225 30588740 0 0 849102 17052679 18273223 74554407 74154899 14956470 2321446 132260615 135441683 33164462 30958393 99096153 104483290 X THE PURPOSE OF METHODIST UNIVERSITY IS TO PROVIDE AN UNDERGRADUATE AND GRADUATE EDUCATION FIRMLY GROUNDED IN THE LIBERAL ARTS TRADITION, THAT NURTURES MORAL VALUES & ETHICAL DECISION-MAKING; TO PROVIDE DISTINCTIVE PROFESSIONAL & GRADUATE PROGRAMS THAT COMPLEMENT THE EDUCATIONAL PURSUITS. false false 57886934 25292936 57002630 POST SECONDARY EDUCATION: METHODIST UNIVERSITY PROVIDES BOTH UNDERGRADUATE AND GRADUATE EDUCATION, FOUNDED IN LIBERAL ARTS, TO APPROXIMATELY 1800 STUDENTS. THE UNIVERSITY'S PROGRAMS ARE CONCENTRATED IN ARTS & HUMANITIES, SCIENCE & HUMAN DEVELOPMENT, BUSINESS & GRADUATE STUDIES, AND BOAST NATIONALLY RENOWNED PROGRAMS SUCH AS THE PHYSICIAN ASSISTANCE PROGRAM. THE UNIVERSITY IS A FULLY-ACCREDITED MEMBER OF THE SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS COMMISSION ON COLLEGES. 7968897 0 9692915 AUXILIARY SERVICES: THE UNIVERSITY'S AUXILIARY ENTERPRISES, INCLUDING RESIDENCE HALLS, DINING FACILITIES, AND A BOOKSTORE, SERVE TO PROVIDE A SUPPORT SYSTEM TO THE STUDENTS. 65855831 true true false true false false false true true true true false false false true true false true true false true false false false true false false false true true true false false false false false false false false false true true false false false false true true true false false true 208 0 true 1127 true false false false false false true true false false false false false false X 29 28 false false false false false false false true true false false true true true true true true true false false X DAWN AUSBORN 9106307000 5400 RAMSEY ST Fayetteville NC 28311 X STANLEY WEARDEN PRESIDENT 40.0 0.0 X 363092 0 13894 SUZANNE B MALLEY PROVOST 40.0 0.0 X 234383 0 16345 RICHARD G SWANSON VP INST ADVANCEMENT 40.0 0.0 X 205591 0 13438 SHEILA C KINSEY VP PLAN&ADMIN / CHIEF OF STAFF 40.0 0.0 X 156324 0 28158 DAWN F AUSBORN CHIEF FINANCIAL OFFICER 40.0 0.0 X 172770 0 11383 RICKY D LOWE VP FOR ENROLLMENT SERVICES 40.0 0.0 X 143898 0 3839 TAT W CHAN DEAN COLLEGE BUSINESS 40.0 0.0 X 136538 0 2716 BETH H CARTER VICE PROVOST FOR ONLINE & EXT 40.0 0.0 X 134109 0 2660 WILLIAM H WALKER VP STUDENT AFFAIRS 40.0 0.0 X 126559 0 6984 KIMBERLY E SCRUTON ASSOC PROF OF EDUCATION 40.0 0.0 X 111415 0 15103 KELLI W TAYLOR VP MISSION INTEGRATION 40.0 0.0 X 108966 0 10693 MEREDITH P GRONSKI ASSOC PROF OF OT 40.0 0.0 X 110435 0 7742 DENISE BAUER PROFESSOR OF ENGINEERING 40.0 0.0 X 103613 0 4788 DAVID R EAVENSON VP FOR ATHLETICS 40.0 0.0 X 101227 0 2999 DR RAKESH GUPTA CHAIR OF THE BOARD 1.0 0.0 X X 0 0 0 MR TIMOTHY S RICHARDSON VICE-CHAIR OF THE BOARD 1.0 0.0 X X 0 0 0 MRS JENNIFER CLEVELAND ELAM SECRETARY OF THE BOARD 1.0 0.0 X X 0 0 0 THE HONORABLE JOHN W BROWN TREASURER OF THE BOARD 1.0 0.0 X X 0 0 0 MR D KEITH ALLISON TRUSTEE 1.0 0.0 X 0 0 0 MR HOWARD ARDEN TRUSTEE 1.0 0.0 X 0 0 0 MR PETER M BROOME TRUSTEE 1.0 0.0 X 0 0 0 DR MARY LYNN BRYAN TRUSTEE 1.0 0.0 X 0 0 0 MR A HOWARD BULLARD JR TRUSTEE 1.0 0.0 X 0 0 0 MS MARGARET HIGHSMITH DICKSON TRUSTEE 1.0 0.0 X 0 0 0 DR LOLETA WOOD FOSTER TRUSTEE 1.0 0.0 X 0 0 0 MR JOHN MAC HEALY TRUSTEE 1.0 0.0 X 0 0 0 MR J DANIEL HIGHSMITH SR TRUSTEE 1.0 0.0 X 0 0 0 MR ROBERT HINES TRUSTEE 1.0 0.0 X 0 0 0 MR CHARLES B HOLMES TRUSTEE 1.0 0.0 X 0 0 0 MRS JO BETH JOHNSON TRUSTEE 1.0 0.0 X 0 0 0 MR EDWARD T TUNA KEIL TRUSTEE 1.0 0.0 X 0 0 0 MR EARL D LEAKE TRUSTEE 1.0 0.0 X 0 0 0 MR R WILLIFORD MCCAULEY TRUSTEE 1.0 0.0 X 0 0 0 DR WILLIAM SCHAEFER TRUSTEE 1.0 0.0 X 0 0 0 MR ANDREW SHUCK TRUSTEE 1.0 0.0 X 0 0 0 MR ELTON STANLEY TRUSTEE 1.0 0.0 X 0 0 0 MR IRA M STEINGOLD ESQ TRUSTEE 1.0 0.0 X 0 0 0 MR JAMES J TOWNSEND TRUSTEE 1.0 0.0 X 0 0 0 MR SCOTT WEATHINGTON TRUSTEE 1.0 0.0 X 0 0 0 MR WILLIAM R WEST SR TRUSTEE 1.0 0.0 X 0 0 0 REV GILLIAM GIL P WISE TRUSTEE 1.0 0.0 X 0 0 0 DR HARVEY T WRIGHT II TRUSTEE 1.0 0.0 X 0 0 0 MR JOHN W JAY WYATT III TRUSTEE 1.0 0.0 X 0 0 0 2208920 0 140742 14 false true false ARAMARK EDUCATIONAL SERVICES 5400 RAMSEY STREET FAYETTEVILLE NC 28311 FOOD SERVICE 2522846 WILEY EDU LLC WES LOCKBOX PO BOX 22309 NEW YORK NY 10087 ONLINE PP 708610 ME CONTRACTING INC 1032 71ST SCHOOL ROAD FAYETTEVILLE NC 28314 CONSTRUCTION 469552 BRADY TRANE SVCS PO BOX 746249 ATLANTA GA 30374 HVAC Repair 308597 FOLLETT CORPORATION Store 1597 3146 Solutions Center CHICAGO IL 60677 BOOKSTORE 276471 5 48977 1714873 6654090 127331 8417940 TUITION AND FEES 611310 57002630 57002630 DORM REVENUES 611310 5790848 5790848 BOARD REVENUES 611310 3646086 3646086 OTHER AUXILIARY REVENUES 611310 255981 255981 66695545 2024820 0 2024820 0 0 0 0 0 29982054 -4126 31302930 -1320876 -4126 -1325002 -1325002 12608 48977 44512 -31904 -31904 0 0 0 0 0 0 OTHER INCOME 900009 694946 694946 694946 76476345 66695545 0 1362860 0 25292936 25292936 0 0 1876595 995736 752758 128101 0 23420062 20512473 2560651 346938 401340 335992 57822 7526 3095341 2488716 519262 87363 1795402 1537101 226454 31847 0 245954 15900 230054 0 98100 0 98100 0 42334 0 42334 0 0 151556 0 151556 0 990463 623201 337595 29667 246216 89167 156699 350 324578 224911 15370 84297 795151 163835 584760 46556 0 4216381 3932054 269305 15022 951220 873740 54244 23236 0 63777 53564 8669 1544 15956 15480 413 63 0 3875489 3332757 534882 7850 495357 354173 137504 3680 FOOD SERVICE CONTRACT 1942420 1942420 0 0 EQUIPMENT RENTAL AND REPAIR 1311614 1071039 238178 2397 SUPPLIES 1018064 902541 105013 10510 DUES AND MEMBERSHIPS 735342 603873 116044 15425 753251 494222 252299 6730 74154899 65855831 7449966 849102 10962 13768 11603130 9160997 1496205 1102247 1525942 1638872 0 0 0 0 0 0 22357 16416 221602 229890 143983771 66352346 79041754 77631425 37845726 44887976 0 0 134884 439419 0 0 358053 320673 132260615 135441683 2024678 2276965 0 0 2627666 2431668 27337394 25182956 213505 107387 0 0 0 0 0 0 961219 959417 33164462 30958393 X 72212198 70709669 26883955 33773621 99096153 104483290 132260615 135441683 X 2321446 3015598 50093 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 42334 42334 false SCHEDULE C, PART II-B, LINE 1, LOBBYING ACTIVITIES: THE UNIVERSITY PAID MEMBERSHIP DUES OF $42,334 TO NORTH CAROLINA INDEPENDENT COLLEGES & UNIVERSITIES (NCICU), A STATEWIDE ORGANIZATION COMPRISED OF INDEPENDENT COLLEGES ACCREDITED BY SOUTHERN ASSOCIATION OF COLLEGES & SCHOOLS, WHICH REPRESENTS HIGHER EDUCATION IN STATE & FEDERAL POLICY. 164614 X X false false true X 41892580 5319699 3675571 793791 3466147 151556 46476356 35584188 11533191 -3671322 710165 720262 123050 41892580 22757260 9728103 5595685 687868 1708370 100622 35584188 22191925 883570 889395 654266 453718 99646 22757260 22892894 758521 1289241 657559 1981347 109825 22191925 0.30700 0.61600 0.07700 true false 97500 1518601 1616101 105686838 42676855 63009983 7980 7980 0 20837046 16708919 4128127 15835806 6958592 8877214 77631425 0 OBLIGATIONS UNDER CAPITAL LEASE 605617 STUDENT DEPOSITS 353800 959417 X 54142056 3015598 -25242843 -22227245 76369301 151556 -44512 107044 76476345 48754919 44512 44512 48710407 151556 25292936 25444492 74154899 SCHEDULE D, PART III, LINE 4: THE UNIVERSITY MAINTAINS A FEW HISTORICAL COLLECTIONS WITHIN ITS LIBRARY, INCLUDING DRAWINGS, LETTERS, MONOGRAPHS, BOOKS & RECORDS. SCHEDULE D, PART IV, LINE 2B: BANK ACCOUNT FOR STUDENT CLUBS & OTHER AFFILIATED GROUPS. SCHEDULE D, PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUNDS ARE TO PROVIDE SCHOLARSHIPS TO STUDENTS AND CASH RESERVES TO THE UNIVERSITY. SCHEDULE D, PART X, LINE 2: THE UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISION OF THE INTERNAL TAXES TOPIC OF THE FASB ASC. SCHEDULE D, PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE REPORTED ON REVENUE -25,292,936 NET INCOME FROM MUDC 50,093 ------------- TOTAL TO SCHEDULE D, PART XI, LINE 2D -25,242,843 SCHEDULE D, PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE REPORTED ON LINE 8B -44,512 SCHEDULE D, PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE REPORTED ON LINE 8B 44,512 SCHEDULE D, PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE REPORTED ON REVENUE 25,292,936 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART 1, LINE 3: METHODIST UNIVERSITY PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ANNUAL ACADEMIC CATALOG, ON ITS WEBSITE, AND IN ALL ADVERTISEMENTS & SOLICITATIONS. SCHEDULE E, PART 1, LINE 6A - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE UNIVERSITY RECEIVES FEDERAL AND STATE AID FOR STUDENT FINANCIAL AID AWARDS, AND FUNDS FOR THE CONSTRUCTION OF FACILITIES AND PURCHASE OF EQUIPMENT FOR THE UNIVERSITY'S EDUCATIONAL PROGRAMS. Europe (Including Iceland and Greenland) 0 0 Program Services RECRUITING 11065 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 30337 Europe (Including Iceland and Greenland) 0 0 Program Services PROFESSIONAL DEVELOP. 5292 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 9062 Central America and the Caribbean 0 0 Program Services HUMANITARIAN 11146 Central America and the Caribbean 0 0 Program Services PROFESSIONAL DEVELOP. 961 Middle East and North Africa 0 0 Program Services HUMANITARIAN 10000 North America 0 0 Program Services PROFESSIONAL DEVELOP. 3495 South America 0 0 Program Services PROFESSIONAL DEVELOP. 750 South Asia 0 0 Program Services HUMANITARIAN 10000 0 0 0 0 92108 92108 false false false false false false HOF GOLF TOUR. 18907 14165 4742 125 1086 4288 BOV GOLF TOUR. 42678 34812 7866 22154 4380 6009 6470 0 61585 48977 12608 22279 4380 7095 10758 44512 -31904 true TUITION ASSISTANCE 1266 25292936 SCHEDULE I, PART I, LINE 2: GRANTS TO RECIPIENTS IN THE U.S. INCLUDED TUITION ASSISTANCE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS. X X true true X X X X false false false false false false false false false STANLEY WEARDEN PRESIDENT 354438 0 0 0 8654 0 7245 0 6649 0 376986 0 0 0 DAWN F AUSBORN CHIEF FINANCIAL OFFICER 164178 0 0 0 8592 0 3580 0 7803 0 184153 0 0 0 SHEILA C KINSEY VP PLAN&ADMIN / CHIEF OF STAFF 147029 0 0 0 9295 0 3576 0 24582 0 184482 0 0 0 RICHARD G SWANSON VP INST ADVANCEMENT 196937 0 0 0 8654 0 4039 0 9399 0 219029 0 0 0 SUZANNE B MALLEY PROVOST 225791 0 0 0 8592 0 4896 0 11449 0 250728 0 0 0 SCHEDULE J, PART I, LINE 1A: THE UNIVERSITY MAINTAINS A RESIDENTIAL HOME ON CAMPUS WHERE THE PRESIDENT LIVES AS A CONDITION OF EMPLOYMENT. THE UNIVERSITY PROVIDES PERSONAL SERVICES OF LIGHT HOUSEKEEPING, PERFORMED BY THE UNIVERSITY'S JANITORIAL STAFF AT THE RESIDENCE OF THE PRESIDENT. A PUBLIC FINANCE AUTHORITY 561592154 74443DHB0 2021-12-08 28055000 REFUND SERIES 2012 AND 2014 BONDS false false false A 0 0 28055000 3023419 0 27595000 593777 0 0 0 0 0 2021 true false true true A false false false false 0 false false false false A false false true false false false 0 true Mass Mutual 9.6 true false false A false SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: PUBLIC FINANCE AUTHORITY (F) DESCRIPTION OF PURPOSE: REFUND SERIES 2012 AND SERIES 2014 BONDS, FUND A DEBT SERVICE RESERVE FUND, AND TO PAY CERTAIN EXPENSE INCURRED IN CONNECTION WITH THE ISSUANCE OF THE 2021 BONDS. Systel Office Automation Owned by a Trustee 164664 Copier Lease false SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: SYSTEL OFFICE AUTOMATION (D) DESCRIPTION OF TRANSACTION: COPIER LEASE X 8 104789 FMV X GRAND PIANO 1 18500 APPRAISAL X TRAINING EQUIP 1 4042 APPRAISAL false true false SCHEDULE M, PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REFLECTS A COMBINATION OF THE NUMBER OF CONTRIBUTORS AND THE NUMBER OF ITEMS DONATED. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 IS PREPARED JOINTLY BY MANAGEMENT & THE EXTERNAL AUDITORS. IT IS REVIEWED BY MANAGEMENT & THE AUDIT COMMITTEE WITH THE EXTERNAL AUDITORS DURING THE REVIEW OF THE AUDITED FINANCIAL STATEMENTS. THE AUDIT COMMITTEE RELAYS THE RESULTS OF THE REVIEW TO THE FULL BOARD AT THE NEXT BOARD MEETING, AND A COPY OF FORM 990 IS MADE AVAILABLE TO THE FULL BOARD FOR THEIR REVIEW BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: THE UNIVERSITY ANNUALLY DISTRIBUTES ITS CONFLICT OF INTEREST POLICY & DISCLOSURE FORM TO ALL BOARD MEMBERS AND EMPLOYEES WITH BUDGET AUTHORITY, FOR REVIEW OF THE POLICY & COMPLETION OF THE QUESTIONNAIRE. A DESIGNATED COMMITTEE REVIEWS THE DISCLOSURE FORMS FOR POSSIBLE CONFLICTS OF INTEREST. ANY FINDINGS ARE SUBMITTED TO THE UNIVERSITY'S AUDIT COMMITTEE FOR REVIEW. THE UNIVERSITY GENERALLY PROHIBITS TRANSACTIONS WITH CONFLICT OF INTEREST PARTIES; HOWEVER, THE AUDIT COMMITTEE HAS THE AUTHORITY TO APPROVE CERTAIN TRANSACTIONS IN THE BEST INTEREST OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15A: THE UNIVERSITY'S PRESIDENTIAL SALARY COMMITTEE EVALUATES THE PRESIDENT'S SALARY ON AN ANNUAL BASIS AND UTILIZING COMPARABILITY DATA, INCLUDING SALARY & BENEFITS HISTORY FROM BOTH WITHIN THE UNIVERSITY & OTHER PRIVATE COLLEGES AND UNIVERSITIES IN NC. THE PRESIDENTIAL SALARY COMMITTEE RECOMMENDS A SALARY FOR THE PRESIDENT TO THE UNIVERSITY'S FULL BOARD OF TRUSTEES. THE BOARD HOLDS AN EXECUTIVE SESSION TO VOTE & APPROVE THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS AVAILABLE ON THE UNIVERSITY'S WEBSITE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: NET INCOME FROM SUBSIDIARY - 50,093 -------- TOTAL TO FORM 990, PART XI, LINE 9 - 50,093 METHODIST UNIVERSITY DEVELOPMENT CORPORA 5400 RAMSEY STREET FAYETTEVILLE NC 28311 561972859 REAL ESTATE DEVEL NC METHODIST UNIVE C CORP 277948 2986504 1.00000 true true false false true false false false false false true true false false false true false true false false Methodist University Development Corporation A 0 FMV Methodist University Development Corporation J 166701 FMV Methodist University Development Corporation K 186000 FMV