Schedule L
(Form 990)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ.
MediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
Name of the organization
HIGH POINT UNIVERSITY
 
Employer identification number

56-0529999
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
(1) DR NIDO QUBEIN PRESIDENT PREMIUMS PAID ON LIFE INSURANCE   X 8,174,840 8,174,840   No Yes   Yes  
Total ...............Small Bullet $ 8,174,840
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) 2021
Schedule L (Form 990) 2021
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) TRUIST BANK
  		NIDO QUBEIN, PRESIDENT, IS ON THE BOARD OF DIRECTORS OF TRUIST. 10,995,262 HIGH PONIT UNIVERSITY DOES BANKING WITH TRUIST.   No
(2) BUDD GROUP
  		THE BUDD GROUP CEO, JOSEPH BUDD, IS THE SON OF TRUSTEE RICHARD BUDD. 10,783,815 THE BUDD GROUP IS CONTRACTED TO PERFORM MAINTENANCE, GROUNDS KEEPING AND JANITORIAL SERVICES FOR HIGH POINT UNIVERSITY.   No
(3) SOUTHEASTERN BUILDING SERVICES INC
  		MIRIAM KIMSEY, TRUSTEE, IS THE VICE PRESIDENT OF SOUTHEASTERN BUILDING INC. 449,611 THE COMPANY PROVIDES HVAC MAINTENANCE AND REPAIR SERVICES TO VARIOUS CAMPUS BUILDINGS.   No
(4) PHILLIPS COLLECTION
  		MARK PHILLIPS, PRESIDENT/CEO OF PHILLIPS COLLECTION IS A TRUSTEE. 115,270 PHILLIPS COLLECTION PROVIDES THE UNIVERSITY WITH VARIOUS ARTWORK/SCULPTURES.   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L, Part II THE PREMIUMS PAID REPRESENT A SPLIT DOLLAR LIFE INSURANCE LOAN, THE REPAYMENT OF WHICH IS SECURED BY A COLLATERAL PLEDGE OF THE PROCEEDS OF THE LIFE INSURANCE POLICY.
Schedule L (Form 990) 2021


Additional Data


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