Civic Intelligence

William Peace University

990 • Fiscal year 2014 • EIN 56-0529988

Jul 01, 2013 to Jun 30, 2014 • Filed on May 05, 2015

15 East Peace StreetSuite27604

(919) 508-2035

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.25x

Higher debt load relative to assets than 43% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

54th percentile

0.61x

Higher debt load relative to revenue than 54% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Source year 2014

Net Margin

12th percentile

-8.3%

Higher net margin than 12% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

68th percentile

$456,960

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

9th percentile

-2.2%

Faster asset growth than 9% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

70th percentile

13%

Faster revenue growth than 70% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2012 to 2014

Assets

Down

$72,852,552

Down $1,660,929 (-2.2%) from 2013

Net Assets

Down

$54,679,158

Down $2,763,941 (-4.8%) from 2013

Liabilities

Up

$18,173,394

Up $1,103,012 (+6.5%) from 2013

Revenue

$29,879,883

No earlier filing loaded for comparison.

Expenses

Up

$32,353,988

Up $6,649,075 (+26%) from 2013

Net Income

-$2,474,105

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $70,674,137Liabilities 2010: $12,522,549Net Assets 2010: $58,151,5882010Assets 2011: $74,199,463Liabilities 2011: $11,593,781Net Assets 2011: $62,605,6822011Assets 2012: $70,665,661Liabilities 2012: $11,632,381Net Assets 2012: $59,033,2802012Assets 2013: $74,513,481Liabilities 2013: $17,070,382Net Assets 2013: $57,443,0992013Assets 2014: $72,852,552Liabilities 2014: $18,173,394Net Assets 2014: $54,679,1582014Assets 2015: $71,778,887Liabilities 2015: $16,777,676Net Assets 2015: $55,001,2112015Assets 2016: $71,583,664Liabilities 2016: $15,859,884Net Assets 2016: $55,723,7802016Assets 2017: $72,571,371Liabilities 2017: $16,067,297Net Assets 2017: $56,504,0742017Assets 2018: $71,368,489Liabilities 2018: $15,586,297Net Assets 2018: $55,782,1922018Assets 2019: $81,373,666Liabilities 2019: $15,399,634Net Assets 2019: $65,974,0322019Assets 2020: $83,108,257Liabilities 2020: $17,629,920Net Assets 2020: $65,478,3372020Assets 2021: $89,474,772Liabilities 2021: $14,665,679Net Assets 2021: $74,809,0932021Assets 2022: $81,106,250Liabilities 2022: $14,122,595Net Assets 2022: $66,983,6552022Assets 2023: $77,092,477Liabilities 2023: $14,065,099Net Assets 2023: $63,027,3782023Assets 2024: $76,607,549Liabilities 2024: $18,672,740Net Assets 2024: $57,934,8092024

Highlighted filing

2014

Assets$72,852,552
Liabilities$18,173,394
Net Assets$54,679,158

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $23,282,3552010Expenses 2011: $24,035,1212011Revenue 2012: $23,485,345Expenses 2012: $22,469,336Net Income 2012: $1,016,0092012Expenses 2013: $25,704,9132013Revenue 2014: $29,879,883Expenses 2014: $32,353,988Net Income 2014: -$2,474,1052014Revenue 2015: $30,724,171Expenses 2015: $29,531,296Net Income 2015: $1,192,8752015Revenue 2016: $29,309,666Expenses 2016: $28,887,188Net Income 2016: $422,4782016Revenue 2017: $30,367,008Expenses 2017: $30,353,252Net Income 2017: $13,7562017Revenue 2018: $30,339,873Expenses 2018: $31,358,459Net Income 2018: -$1,018,5862018Revenue 2019: $42,769,624Expenses 2019: $32,953,263Net Income 2019: $9,816,3612019Revenue 2020: $33,821,423Expenses 2020: $34,042,251Net Income 2020: -$220,8282020Revenue 2021: $34,889,332Expenses 2021: $32,558,480Net Income 2021: $2,330,8522021Revenue 2022: $37,887,000Expenses 2022: $33,390,266Net Income 2022: $4,496,7342022Revenue 2023: $26,832,734Expenses 2023: $34,329,410Net Income 2023: -$7,496,6762023Revenue 2024: $25,979,919Expenses 2024: $34,661,827Net Income 2024: -$8,681,9082024

Highlighted filing

2014

Revenue$29,879,883
Expenses$32,353,988
Net Income-$2,474,105
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 5, 2015
Return Version
2013v4.0
Gross Receipts
$29,879,883
Mission and Program Overview

Mission

William peace university is a private four-year university located in downtown raleigh, north carolina. The mission of the university is to prepare students for careers in the organizations of tomorrow. Rooted in the liberal arts tradition, the student develops an appreciation for life-long learning, a focus on meaningful careers, and skills for ethical citizenship. On average, over 95 percent of our graduates go onto jobs or careers within a year of graduation. For more information, please visit www.peace.edu.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,166,736$38,679,049▲ $6,512,313
Investments in Publicly Traded Securities$28,089,052$17,528,959▼ $10,560,093
Cash and Non-Interest-Bearing Accounts$4,363,996$2,743,358▼ $1,620,638
Accounts Receivable$1,141,235$1,143,622▲ $2,387
Savings and Temporary Cash Investments$654,368$732,212▲ $77,844
Pledges and Grants Receivable$550,881$441,285▼ $109,596
Investments Other Securities$376,861$262,956▼ $113,905
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$74,513,481$72,852,552▼ $1,660,929
Other Assets Total$7,170,352$11,321,111▲ $4,150,759
Liabilities
Unsecured Notes Loans Payable$15,185,000$14,679,852▼ $505,148
Accounts Payable and Accrued Expenses$1,701,557$1,870,066▲ $168,509
Deferred Revenue$0$1,201,445▲ $1,201,445
Other Liabilities$183,825$422,031▲ $238,206
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$17,070,382$18,173,394▲ $1,103,012
Net Assets / Fund Balance
Permanently Rstr Net Assets$26,186,160$26,533,336▲ $347,176
Unrestricted Net Assets$21,222,011$19,282,583▼ $1,939,428
Temporarily Rstr Net Assets$10,034,928$8,863,239▼ $1,171,689
Total Net Assets Fund Balance$57,443,099$54,679,158▼ $2,763,941
Total Liabilities and Net Assets / Fund Balance$74,513,481$72,852,552▼ $1,660,929

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$29,371,283$10,260,819$39,632,102
Land$7,286,329-$7,286,329
Equipment$2,021,437$3,137,144$5,158,581
Other Assets Org$50,353--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$32,841,094$18,624▲ $728,618$557,867$31,821,465
2012$33,690,208$349,973▲ $408,523$446,266$32,841,094
2011$36,742,633$61,994▼ $1,500,433$312,541$33,690,208
2010$31,863,848$369,904▲ $5,721,237$541,089$36,742,633
2009$32,158,819$174,302▲ $2,649,515$1,044,936$33,937,700
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Debra M TownsleyPresidentFT$298,005$158,955$456,960
George A YearwoodVP for Finance & CFOFT$146,602$12,063$158,665
Ann T DenlingerVP for Academic AffairsFT$145,956$2,428$148,384
Justin G RoyVP OF Social Media & MarketingFT$122,942$10,627$133,569
Frank P RizzoVP for Student ServicesFT$123,238$6,525$129,763
Laura McCulloughVP for Strategic InitiativesFT$120,361$5,427$125,788
Julie RicciardiVP for EngagementFT$108,190$9,760$117,950

Board Members and Trustees

NameTitle
Beth CherryBoard Chair
J Frederick Kelly JrBoard Vice Chair
AB Swindell IVBoard Member
Charles Terry ReevesBoard Member
Edward McLeod JrBoard Member
Gerald Jeb JeutterBoard Member
Lee RastBoard Member
Mary Kathryn AdcockBoard Member
Rae Marie H CzuhaiBoard Member
Rick MartinezBoard Member
Todd RobinsonBoard Member
Willard RossBoard Member
Mary Davis BettsBoard Secretary
Scott CusterBoard Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Woodlark Wolf CreekStudent Housing Rent-$592,721
Parker Poe Adams Bernstein LLPLegal Services-$446,970
The Budd GroupHousekeeping-$252,455
Smith Sinnett ArchitectureArchitecture Service-$113,379
Arthur Gallagher Risk ManagementInsurance-$110,630
Revenue and Support

Revenue Composition

Contributions and Grants
$2,698,917
Program Service Revenue
$25,779,500
Investment Income
$395,195
Other Revenue
$1,006,271
All Other Contributions
$2,356,198
Change in Net Assets
$-2,474,105

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$1,000,000Cost of Improvements
Securities Publicly Traded4$69,749Avg Value on Day Rec
Total Noncash Contributions5$1,069,749-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,189,113
Grants and Similar Amounts Paid$10,004,270
Salaries, Compensation, and Employee Benefits$9,160,605
Total Fundraising Expense$331,622
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$10,004,270--$10,004,270
Other Salaries and Wages$5,123,659$1,472,913$65,635$6,662,207
Fees for Services Other$2,656,372$300,976-$2,957,348
Occupancy$1,542,244$228,427-$1,770,671
Depreciation Depletion$1,371,879$199,575-$1,571,454
Current Officers, Directors, Trustees, and Key Employees$608,919$582,169$149,886$1,340,974
Interest$958,724$139,471-$1,098,195
Advertising$152,397$448,306$14,117$614,820
Fees for Service Investment Mgmnt Fees$101,703$444,859-$546,562
Other Employee Benefits$330,354$206,847$8,267$545,468
Fees for Services Legal-$535,292-$535,292
Payroll Taxes$398,581$101,066$7,386$507,033
Office Expenses$125,870$230,931$11,288$368,089
Insurance$39,411$270,499-$309,910
Travel$223,915$15,864$2,053$241,832
Other Expenses$48,686$70,212$5,914$124,812
Pension Plan Contributions$79,218$23,873$1,832$104,923
Fees for Services Accounting-$79,032-$79,032
Total Functional Expenses$25,567,805$6,454,561$331,622$32,353,988
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Organization$246,658
Leases Payable$108,962
Annuities Payable$66,411
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B:

The irs form 990 is required to be reviewed by the university board of trustees each year before being filed. A draft version of the form 990 is reviewed first by the controller, and then the vice president for finance & administration and the president, and then a copy is sent to members of the finance committee of the board of trustees of the university. Committee members are requested to review the form 990 return and submit questions and/or other feedback to the administration within one week of receipt. The full board reviews the form 990 on a high level prior to it being filed. The vice president for finance & administration is responsible for submitting the draft version of the form 990 to the board for review. The controller coordinates with the university's tax preparers for filing after the review period.

FORM 990, PART VI, SECTION B, LINE 12C:

All board members receive a conflict of interest form annually where they disclose any relationships they have with parties related to the university. All relationships noted are reviewed for appropriateness and further action is taken if necessary.

FORM 990, PART VI, SECTION B, LINE 15:

The university obtained the services of a reputable law firm to review the reasonableness of the president's compensation and render their opinion. Their work included reviewing the employment agreement between the university and the president, bylaws, minutes, related irs code sections, and related tax cases dealing with compensation. They also compared the salary to the current president's former salary and to the former president's salary. They rendered an opinion that the compensation is reasonable defined by the code, treasury regulations, and relevant judicial decisions. For other key members of management, the human resources office uses comparability studies to determine reasonable salary levels. The president approves the salary before offers are made.

FORM 990, PART VI, SECTION C, LINE 19:

The organization does not make its governing documents, conflict of interest policy, or financial statements generally available to the public.

Filing and Contact Details

Filer

EIN
56-0529988
In Care Of
% GEORGE A YEARWOOD
Phone
9195082035

Signing Officer

Name
George a Yearwood
Title
VP for Finance & CFO
Phone
9195082035
Signed
2015-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Debra M Townsley
Formed
1857
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
492
Volunteers
150

Preparer

Preparer
Mike Sorrells
Phone
9195082035
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1 - DESCRIPTION OF ORGANIZATION MISSION:

The william peace university mission is to prepare students for careers in the organizations of tomorrow. Rooted in the liberal arts tradition, the student develops an appreciation for life-long learning, a focus on meaningful careers, and skills for ethical citizenship.

FORM 990, PART XI, LINE 9 - CHANGES IN NET ASSETS:

CHANGES IN INTEREST RATE SWAP AGREEMENTS 100,430 CHANGES IN SPLIT INTEREST TRUST AGREEMENTS -391,422 CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -347,282 miscellaneous adjustment 1,239 --------- TOTAL TO FORM 990, PART XI, LINE 9 -637,035

FORM 990, PART XII, LINE 2C:

Oversight of the audited financial statements: there has been no change in the process.

Financial Statement Notes

SCHEDULE D, PART V, LINE 4:

The university's endowment portfolio consists of approximately 250 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the board of trustees to function as endowments. As required by u.s. Gaap, net assets associated with endowment funds, including funds designated by the board of trustees to function as endowments, are classified and reported based on the donor-imposed restrictions.

SCHEDULE D, PART X, LINE 2:

The university is exempt from federal income tax as an organization described in section 501(c)(3) of the internal revenue code of 1986, as amended. With respect to any unrelated business income generated by the university, it records income taxes using the liability method under which deferred tax assets and liabilities are determined based on the differences between the financial accounting and tax bases of the assets and liabilities. Deferred tax assets or liabilities at the end of each period are determined using the currently enacted tax rate expected to apply to taxable income in the period that the deferred tax asset or liability is expected to be realized or to be settled. As of june 30, 2014 and 2013, the university had no deferred tax assets or liabilities or any uncertain tax positions.

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IRS990/Desc0INSTRUCTION & ACADEMIC SUPPORT: THE 17 ACADEMIC MAJORS AND OVER 20 MINORS AND CONCENTRATIONS AT WPU REPRESENT AREAS THAT CONNECT TO GROWING PROFESSIONAL FIELDS AND DEMANDS. THEY INCORPORATE PRE-PROFESSIONAL AND LIBERAL ARTS COMPONENTS. THEY INCLUDE FLEXIBLE PAIRINGS AND SPECIALIZED CONCENTRATIONS WITHIN EACH MAJOR. ON AVERAGE MORE THAN 90 PERCENT OF OUR GRADUATES BEGIN CAREERS OR PURSUE HIGHER EDUCATION WITHIN A YEAR OF GRADUATION. OUR NEW CORE CURRICULUM INCLUDES A FOCUS ON ETHICAL DECISION MAKING AND EMPHASIZES BASIC KNOWLEDGE NEEDED BEYOND GRADUATION. MANDATORY COURSES INCLUDE PERSONAL FINANCIAL MANAGEMENT, MEDIA LITERACY, AND FOUR YEARS OF WRITING COURSES WITHIN THE ENGLISH DEPARTMENT. A SERIES OF THREE CLASSES FOCUSING ON CAREER AND PROFESSIONAL DEVELOPMENT IS A REQUIREMENT. THROUGH THE PROFESSIONAL DEVELOPMENT SEMINAR, STUDENTS LEARN HOW TO CONSTRUCT A RESUME, BUILD A PORTFOLIO, INTERVIEW FOR A JOB OR APPLY FOR GRADUATE SCHOOL. ACADEMIC INTERNSHIPS ARE REQUIRED, WITH THE GOAL OF COMBINING EDUCATIONAL THEORY WITH JOB EXPERIENCE. 60% OF GRADUATES REPORT THEIR UNIVERSITY INTERNSHIP EXPERIENCE RESULTS IN JOB OFFERS. U.S. NEWS & WORLD REPORT CITED WILLIAM PEACE UNIVERSITY AS ONE OF EIGHT UNIVERSITIES WHOSE ENTIRE GRADUATING CLASS GAINED INTERNSHIP EXPERIENCE. THROUGHOUT THE DURATION OF A STUDENT'S TENURE AT WPU, THEY WILL HAVE A SKILLED ADVISOR WHO WILL HELP EXPLORE CAREERS, ASSIST WITH DECISION-MAKING, AND PROVIDE PERSONAL ATTENTION TO ALL AREAS OF COLLEGE LIFE, BOTH ACADEMIC AND SOCIAL.
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IRS990/Form990PartVIISectionAGrp/TitleTxt16VP for Academic Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP for Student Services
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP OF Social Media & Marketing
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP for Strategic Initiatives
IRS990/Form990PartVIISectionAGrp/TitleTxt20VP for Engagement
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IRS990/MissionDesc0WILLIAM PEACE UNIVERSITY IS A PRIVATE FOUR-YEAR UNIVERSITY LOCATED IN DOWNTOWN RALEIGH, NORTH CAROLINA. THE MISSION OF THE UNIVERSITY IS TO PREPARE STUDENTS FOR CAREERS IN THE ORGANIZATIONS OF TOMORROW. ROOTED IN THE LIBERAL ARTS TRADITION, THE STUDENT DEVELOPS AN APPRECIATION FOR LIFE-L0NG LEARNING, A FOCUS ON MEANINGFUL CAREERS, AND SKILLS FOR ETHICAL CITIZENSHIP. ON AVERAGE, OVER 90 PERCENT OF OUR GRADUATES GO ONTO JOBS OR CAREERS WITHIN A YEAR OF GRADUATION. FOR MORE INFORMATION, PLEASE VISIT WWW.PEACE.EDU.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.6$18.7$57.9$26.0$34.7$8.68
2023Detailed filing. Detailed filing data is available for this year.$77.1$14.1$63.0$26.8$34.3$7.50
2022Detailed filing. Detailed filing data is available for this year.$81.1$14.1$67.0$37.9$33.4$4.50
2021Detailed filing. Detailed filing data is available for this year.$89.5$14.7$74.8$34.9$32.6$2.33
2020Detailed filing. Detailed filing data is available for this year.$83.1$17.6$65.5$33.8$34.0$0.22
2019Detailed filing. Detailed filing data is available for this year.$81.4$15.4$66.0$42.8$33.0$9.82
2018Detailed filing. Detailed filing data is available for this year.$71.4$15.6$55.8$30.3$31.4$1.02
2017Detailed filing. Detailed filing data is available for this year.$72.6$16.1$56.5$30.4$30.4$0.01
2016Detailed filing. Detailed filing data is available for this year.$71.6$15.9$55.7$29.3$28.9$0.42
2015Detailed filing. Detailed filing data is available for this year.$71.8$16.8$55.0$30.7$29.5$1.19
2014Detailed filing. Detailed filing data is available for this year.$72.9$18.2$54.7$29.9$32.4$2.47
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.5$17.1$57.4$25.7
2012Summary only. Only limited summary data is available for this year.$70.7$11.6$59.0$23.5$22.5$1.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.2$11.6$62.6$24.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.7$12.5$58.2$23.3