2025-05-15T07:37:57-05:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2023-07-01 570314422 WOFFORD COLLEGE WOFF 8645974226 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 CHRISTOPHER L GARDNER CHIEF FINANCIAL OFFICER 8645974226 2025-05-13 1 1 MELANIE MCPEAK P01346034 8642333981 2023 2025-03-06 01:10:19Z NAYEF H SAMHAT 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 301261108 0 X WWW.WOFFORD.EDU X 1854 SC THE PURPOSE OF WOFFORD COLLEGE IS TO FUNCTION AS A LIBERAL ARTS INSTITUTION OF SUPERIOR QUALITY. 30 30 1225 30 89855 14363 13878273 20386798 119618510 127592049 4901346 23330557 53014 52950 138451143 171362354 55501958 61785817 0 0 46120678 47639359 0 0 2273397 45418836 48115229 147041472 157540405 -8590329 13821949 680972147 761005885 97236585 125626073 583735562 635379812 X THE PURPOSE OF WOFFORD COLLEGE IS TO FUNCTION AS A LIBERAL ARTS INSTITUTION OF SUPERIOR QUALITY. ITS CHIEF CONCERN IS THE DEVELOPMENT OF AN INTELLECTUAL, SPIRITUAL, AND AESTHETIC ATMOSPHERE IN WHICH SERIOUS AND INQUIRING MINDS OF STUDENTS AND FACULTY ALIKE WILL BE CHALLENGED TO A COMMON SEARCH FOR TRUTH AND FREEDOM, WHEREVER THAT SEARCH MAY LEAD, AND IN WHICH EACH PERSON MAY BECOME AWARE OF HIS OR HER OWN INDIVIDUAL WORTH, WHILE ASPIRING TO HIGH STANDARDS OF LEARNING AND MORALITY. IN SUCH AN ENVIRONMENT ALL MEMBERS OF THE WOFFORD COMMUNITY SHOULD DEVELOP INTELLECTUAL CURIOSITY, INDEPENDENCE OF THOUGHT, MATURITY OF JUDGMENT, SELF-DISCIPLINE, RELIGIOUS FAITH, AND MORAL CHARACTER SO THAT THEY WILL BE EVER SENSITIVE TO THE DUTIES AND RESPONSIBILITIES OF GOOD CITIZENSHIP AND RENDER EFFECTIVE LEADERSHIP AND GENEROUS SERVICE TO THE COMMUNITIES IN WHICH THEY LIVE. THIS CONCEPT OF LIBERAL EDUCATION IS IN HARMONY WITH THE IDEALS OF THE UNITED METHODIST CHURCH, TO WHICH THE COLLEGE IS RELATED. 0 0 90109527 61785817 97546749 THE COLLEGE PROVIDED A LIBERAL ARTS EDUCATION TO APPROXIMATELY 1,850 STUDENTS FOR THE 2023-24 ACADEMIC YEAR, GRADUATING APPROXIMATELY 380 STUDENTS WITH BA OR BS DEGREES. THE COLLEGE IS COMMITED TO AFFORDABILITY AND ACCESS TO STUDENTS OF ALL BACKGROUNDS. THE COLLEGE DISTRIBUTED IN EXCESS OF $61 MILLION IN FINANCIAL AID TO ASSIST STUDENTS IN MEETING THE FINANCIAL OBLIGATIONS OF ATTENDING THE INSTITUTION. 52388592 30045300 THE COLLEGE PROVIDED AUXILIARY SERVICES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF AND THE COMMUNITY. SUCH AUXILIARY ENTERPRISES INCLUDE STUDENT HOUSING, ATHLETICS, INTRAMURAL SPORTS, AND THE WELLNESS CENTER. 142498119 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 2512 0 1 1225 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 30 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X CHRISTOPHER GARDNER 8645974232 429 NORTH CHURCH STREET SPARTANBURG SC 29303 CHRISTOPHER A P CARPENTER BOARD CHAIR 2.00 0.00 X X 0 0 0 ASHLEY RICHARDSON ALLEN BOARD VICE CHAIR 1.00 0.00 X X 0 0 0 WILLIAM F MALAMBRI III BOARD SECRETARY 1.00 0.00 X X 0 0 0 RONALD A ANDREWS JR TRUSTEE 1.00 0.00 X 0 0 0 JOHN E BAUKNIGHT IV TRUSTEE 1.00 0.00 X 0 0 0 KATHERINE A CLOSE TRUSTEE 1.00 0.00 X 0 0 0 R HOWARD COKER TRUSTEE 1.00 0.00 X 0 0 0 JUSTIN A CONVERSE TRUSTEE 1.00 0.00 X 0 0 0 ENGLISH C FLACK TRUSTEE 1.00 0.00 X 0 0 0 JIMMY I GIBBS TRUSTEE 1.00 0.00 X 0 0 0 B SHAWAN GILLIANS TRUSTEE 1.00 0.00 X 0 0 0 DAVID G JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 BLANDING U JONES TRUSTEE 1.00 0.00 X 0 0 0 WADE P KEISLER TRUSTEE 1.00 0.00 X 0 0 0 TIMOTHY E MADDEN TRUSTEE 1.00 0.00 X 0 0 0 MONIQUE MCDOWELL TRUSTEE 1.00 0.00 X 0 0 0 JODIE W MCLEAN TRUSTEE 1.00 0.00 X 0 0 0 JAMES C MEADORS TRUSTEE 1.00 0.00 X 0 0 0 CRAIG D MELVIN TRUSTEE 1.00 0.00 X 0 0 0 STEVEN W MUNGO TRUSTEE 1.00 0.00 X 0 0 0 GREGORY A O'DELL TRUSTEE 1.00 0.00 X 0 0 0 COSTA M PLEICONES TRUSTEE 1.00 0.00 X 0 0 0 G MURRELL SMITH JR TRUSTEE 1.00 0.00 X 0 0 0 JAMES L SWITZER JR TRUSTEE 1.00 0.00 X 0 0 0 DOROTHY ACEE THOMAS TRUSTEE 1.00 0.00 X 0 0 0 ERIN M WATSON TRUSTEE 1.00 0.00 X 0 0 0 JOSHUA S WHITLEY TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM H WILLIMON TRUSTEE 1.00 0.00 X 0 0 0 LISA N YEBUAH TRUSTEE 1.00 0.00 X 0 0 0 MARGARET G YOUNG TRUSTEE 1.00 0.00 X 0 0 0 NAYEF SAMHAT PRESIDENT 40.00 0.00 X 495989 0 343509 CHRIS GARDNER CHIEF FINANCIAL OFFICER 40.00 0.00 X 191825 0 37171 TIMOTHY SCHMITZ PROVOST 40.00 0.00 X 168778 0 25069 STEVEN WATSON HEAD FOOTBALL COACH 40.00 0.00 X 283117 0 42494 CALHOUN KENNEDY VP OF PHILANTHROPY & ENGAGEMENT 40.00 0.00 X 213078 0 39144 DWIGHT PERRY HEAD BASKETBALL COACH 40.00 0.00 X 181592 0 25748 BOYCE LAWTON DEAN OF STUDENT SUCCESS 40.00 0.00 X 173903 0 23727 RICHARD JOHNSON DIRECTOR OF ATHLETICS 40.00 0.00 X 164280 0 24508 1872562 0 561370 34 0 1 0 THE ROBINS & MORTON GROUP 400 SHADES CREEK PARKWAY BIRMINGHAM AL 35209 CONSTRUCTION 3369525 BENISTARHARTFORD PO BOX 1267 BUFFALO NY 14240 MEDICAL SERVICES 409045 SPARTANBURG REGIONAL MEDICAL CENTER 101 E WOOD STREET SPARTANBURG SC 29303 MEDICAL SERVICES 263626 HUB DEVELOPMENT LLC 578 N CHURCH ST SPARTANBURG SC 29303 REAL ESTATE SERVICES 177513 CHERRY BEKAERT LLP PO BOX 632239 CINCINNATI OH 45263 ACCOUNTING 166598 9 60007 303032 20023759 1076809 20386798 TUITION 611600 97546749 97546749 AUXILIARY - ROOM AND BOARD 611600 24780828 24780828 ATHLETIC PROGRAM REVENUE 711210 2807239 2807239 CAMP REVENUE 900099 385447 385447 BOOKSTORE 900099 123048 123048 1948738 1948738 127592049 7874096 89855 7784241 52950 0 52950 52950 52950 145336140 129879679 15456461 15456461 15456461 19075 60007 19075 0 171362354 127592049 89855 23293652 61785817 61785817 986832 609576 377256 34512971 29801033 3288687 1423251 2880497 2463969 285596 130932 7272854 6285589 716599 270666 1986205 1703333 202996 79876 30405 30405 194665 194665 2738513 2738513 1724994 1049407 631274 44313 4270683 3489509 717447 63727 1431751 1084757 291890 55104 5887634 5732480 155154 2848751 2589676 173165 85910 3202243 3113174 89069 10877546 10553355 324191 1120188 289428 830760 FOOD SERVICES 6488385 6488385 HOSPITALITY 1927530 1369491 458346 99693 ATHLETICS 838159 837910 249 BOOKS/PERIODICALS 742518 742518 3791264 2508712 1262627 19925 157540405 142498119 12768889 2273397 5512944 6733555 914893 25458572 7526672 14263601 2370797 1908010 1647382 1820911 424248364 180347269 244837228 243901095 102278372 112473024 308046446 347081165 13790 7823623 7365952 680972147 761005885 6187933 6234272 12574470 11772344 64138584 93527657 5682000 7000000 8653598 7091800 97236585 125626073 X 150536356 149500294 433199206 485879518 583735562 635379812 680972147 761005885 X 13821949 36212772 1609529 X 0 1 X 1 1 1 X 15695334 177832472 16205099 13878273 20386798 243997976 15695334 177832472 16205099 13878273 20386798 243997976 147281389 96716587 3365948 3377062 5013294 5515841 7837191 25109336 71721 216804 85045 14363 387933 269495245 561153370 0.35890 0.35670 X SCHEDULE A, PART I THE COLLEGE IS CLASSIFIED AS A PUBLIC CHARITY, A SCHOOL, IN ACCORDANCE WITH SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. HOWEVER, THE COLLEGE HAS ELECTED TO FOLLOW THE "SPECIAL RULE" FOR REPORTING CONTRIBUTIONS ON SCHEDULE B WHICH PROVIDES THAT 501(C)(3) ORGANIZATIONS THAT SATISFY THE 33 1/3% SUPPORT TESTS OF SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) NEED ONLY DISCLOSE ON SCHEDULE B GIFTS FROM ANY ONE CONTRIBUTOR THAT TOTAL THE GREATER OF (1) $5,000 OR (2) 2% OF TOTAL CONTRIBUTIONS, GIFTS, GRANTS AND SIMILAR AMOUNTS RECEIVED. THEREFORE, THE COLLEGE HAS COMPLETED THE SUPPORT SCHEDULE IN PART II TO SUBSTANTIATE THAT IT MEETS THE PUBLIC SUPPORT TEST. THE COLLEGE CONTINUES TO QUALIFY AS A SCHOOL. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2091387 X X 0 0 1 X 417384227 5688255 56512228 8407372 5761824 465415514 378836923 6741101 44714235 7959460 4948572 417384227 437512908 7552255 -56417152 7352260 2458828 378836923 208057660 166945863 71820974 6916366 2395223 437512908 211672562 4765749 685268 6669684 2396235 208057660 0.00520 0.74455 0.25021 0 0 2956034 49780085 52736119 287874743 142793472 145081271 1059590 525585 534005 74649681 37028212 37621469 7928231 7928231 243901095 ABSOLUTE RETURN FUNDS 21576732 F DIRECTIONAL HEDGE FUNDS 31654848 F EQUITY COMMON AND COMMINGLED TRUST FUNDS 261295545 F INFLATION HEDGING COMMON TRUST FUNDS 19841233 F PRIVATE CAPITAL 12712807 F 347081165 POSTRETIREMENT BENEFITS OBLIGATION 3862160 ASSET RETIREMENT OBLIGATIONS 418129 OPERATING LEASE LIABILITIES 2319766 FINANCE LEASE LIABILITIES 491745 7091800 X 144679400 36212772 -60176288 -23963516 168642916 2738513 -19075 2719438 171362354 93035150 19075 19075 93016075 2738513 61785817 64524330 157540405 PART III, LINE 4: THE COLLEGE'S COLLECTIONS INCLUDE PAINTINGS, PRINTS AND SCULPTURE REFLECTING A MYRIAD OF ARTISTIC STYLES DONATED BY INDIVIDUALS TO THE COLLEGE FOR SELECTIVE PUBLIC DISPLAY. THE COLLECTION SERVES AS AN IMPORTANT CULTURAL RESOURCE FOR OUR STUDENTS, FACULTY, STAFF AND COMMUNITY SERVING TO EDUCATE AND INSPIRE. PART IV, LINE 2B: FUNDS HELD IN CUSTODY FOR OTHERS PRIMARILY RELATES TO STUDENT ORGANIZATIONS. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 975 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING ACADEMIC SCHOLARSHIPS, ENDOWED CHAIRS, AND OTHER OPERATIONS OF THE COLLEGE. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE COLLEGE HAS EVALUATED THE EFFECT OF U.S. GAAP GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE COLLEGE CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION. MANAGEMENT ALSO BELIEVES THAT THERE ARE NO OTHER UNCERTAIN TAX POSITIONS AT JUNE 30, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT ASSISTANCE -61,785,817. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 258,136. CHANGE IN ESTIMATE OF COLLECTIBILITY OF PLEDGES RECEIVABLE 77,731. POSTRETIREMENT BENEFIT-RELATED CHANGES 1,273,662. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -19,075. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 19,075. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT ASSISTANCE 61,785,817. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WOFFORD COLLEGE GENERALLY PUBLISHES THE FOLLOWING STATEMENT IN ALL OF ITS COURSE CATALOGS, BROCHURES, AND ON ITS WEBSITE: IT IS THE POLICY OF WOFFORD COLLEGE TO PROVIDE EQUAL OPPORTUNITIES AND REASONABLE ACCOMODATION TO ALL PERSONS REGARDLESS OF RACE, COLOR, CREED, RELIGION, SEX, AGE, NATIONAL ORIGIN, DISABILITY, VETERAN STATUS, SEXUAL ORIENTATION OR OTHER LEGALLY PROTECTED STATUS IN ACCORDANCE WITH APPLICABLE FEDERAL AND STATE LAWS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES ANNUAL PAYMENTS FROM THE CITY OF SPARTANBURG AND COUNTY OF SPARTANBURG TO REPAY THE COLLEGE FOR THE CONSTRUCTION OF A PHYSICAL ACTIVITIES BUILDING AND FOOTBALL STADIUM CONSTRUCTED IN 1994-1995. THE COLLEGE RECEIVES FEDERAL PELL GRANTS AND WORK STUDY FUNDS FROM THE US DEPARTMENT OF EDUCATION AND IN-TURN AWARDS THESE FUNDS TO ITS STUDENTS WITH FINANCIAL NEED. IN ADDITION, THE COLLEGE IS REIMBURSED BY THE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION AND THE NATIONAL SCIENCE FOUNDATION FOR A COUPLE OF SMALL RESEARCH PROJECTS ON CAMPUS. THE COLLEGE WAS ALSO AWARDED FUNDING FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) THROUGH THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (THE "CARES") ACT TO PROVIDE EMERGENCY FINANCIAL AID GRANTS TO STUDENTS FOR EXPENSES RELATED TO THE DISRUPTION OF CAMPUS OPERATIONS AND TO COVER EXPENSES ASSOCIATED WITH SIGNIFICANT CHANGES TO THE DELIVERY OF INSTRUCTION DUE TO THE CORONAVIRUS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 27862470 0 0 0 0 0 0 27862470 0 27862470 1 0 1 1 1 0 PART I, LINE 3: INVESTMENTS HAVE BEEN REPORTED AT THEIR FAIR MARKET VALUE AS OF THE END OF THE YEAR EXCEPT FOR TWO INVESTMENTS WHICH HAVE BEEN INCLUDED BASED ON THE ENDING CAPITAL ACCOUNT OF THEIR SCHEDULES K-1 FOR THE CALENDAR YEAR FALLING WITHIN THE FISCAL YEAR BEING REPORTED ON. SCHEDULE F, PART IV, LINES 3 AND 4 THE COLLEGE HAS OWNERSHIP IN VARIOUS FOREIGN ENTITIES AS A RESULT OF ALTERNATIVE INVESTMENTS THAT ARE PART OF THE COLLEGE'S INVESTMENT PORTFOLIO. THE COLLEGE'S OWNERSHIP PERCENTAGE IS NOT HIGH ENOUGH TO WARRANT THE FILING OF FORM 5471 AND THE COLLEGE IS NOT SUBJECT TO THE FORM 8621 FILING REQUIREMENTS FOR FY24. ATLANTA GOLF TOURNAMENT 79082 60007 19075 19075 79082 60007 19075 19075 19075 0 1 FINANCIAL AID (SCHOLARSHIPS AND GRANTS) 1830 61785817 TUITION RATE TUITION DISCOUNT PART I, LINE 2: GRANTS AND SCHOLARSHIPS ARE PROVIDED TO STUDENTS ONLY FOR TUITION, FEES, AND ROOM AND BOARD. THE FUNDS ARE APPLIED DIRECTLY TO THE STUDENTS' ACCOUNTS AND CANNOT BE USED FOR OTHER PURPOSES. X 0 0 X X X X X 0 1 0 0 0 0 0 0 0 NAYEF SAMHAT PRESIDENT 495989 0 0 0 0 0 299500 0 44009 0 839498 0 0 0 STEVEN WATSON HEAD FOOTBALL COACH 283117 0 0 0 0 0 28785 0 13709 0 325611 0 0 0 CALHOUN KENNEDY VP OF PHILANTHROPY & ENGAGEMENT 213078 0 0 0 0 0 22058 0 17086 0 252222 0 0 0 CHRIS GARDNER CHIEF FINANCIAL OFFICER 191825 0 0 0 0 0 20133 0 17038 0 228996 0 0 0 DWIGHT PERRY HEAD BASKETBALL COACH 181592 0 0 0 0 0 18315 0 7433 0 207340 0 0 0 BOYCE LAWTON DEAN OF STUDENT SUCCESS 173903 0 0 0 0 0 15902 0 7825 0 197630 0 0 0 TIMOTHY SCHMITZ PROVOST 168778 0 0 0 0 0 17170 0 7899 0 193847 0 0 0 RICHARD JOHNSON DIRECTOR OF ATHLETICS 164280 0 0 0 0 0 16607 0 7901 0 188788 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES HOUSING TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THEY CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. THIS BENEFIT IS NONTAXABLE. PART I, LINE 4B THE COLLEGE CONTRIBUTED $266,500 TO THE 457F PLAN FOR NAYEF SAMHAT, PRESIDENT DURING THE FYE JUNE 30, 2024. A SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2016-07-13 27794978 ECONOMIC DEVELOPMENT REVENUE BONDS 0 0 0 B SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031YQ0 2019-05-23 28709531 CONSTRUCTION OF RESIDENCE HALL, SCIENCE BUILDING, ATHLETIC FACILITIES, ETC. 0 0 0 C SC JOBS ECONOMIC DEVELOPMENT AUTHORITY-SERIES A 570960018 000000000 2020-09-30 17650000 REFINANCE 2010 BONDS AND PAYMENTS ON 2007B AND 2016 BONDS 0 0 0 D SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2024-05-30 33181392 FINANCE RENOVATION OF CAMPUS HOUSING, SOFTWARE IMPLEMENTATION, ETC 0 0 0 A 6040000 27794978 310328 27484650 2017 0 1 1 1 B 935000 28709531 389768 28013769 306085 2022 0 0 1 1 C 4900000 17650000 197213 17452787 1 0 1 1 D 33181392 2789512 391881 7602131 22397868 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART II, LINE 3 THE DIFFERENCE BETWEEN THE ISSUE PRICE OF THE BOND IN PART I (CUSIP # 837031YQ0) VERSUS THE TOTAL AMOUNT IN PART II LINE 3 IS DUE TO INVESTMENT EARNINGS. X 25 1076809 QUOTED MKT. PRICE 0 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN COLUMN B OF SCHEDULE M FOR ALL DONATIONS REPRESENTS THE NUMBER OF CONTRIBUTIONS FOR EACH RESPECTIVE CATEGORY. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE GOVERNING BODY, THE BOARD OF TRUSTEES, IN ACCORDANCE WITH THE WILL OF BENJAMIN WOFFORD (FOUNDER), ARE ELECTED BY THE SOUTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH. THE PROCESS FOR TRUSTEE SELECTION AND ELECTION IS ONE INVOLVING ADVICE AND CONSENT AMONG AND BETWEEN MEMBERS OF THE BOARD OF TRUSTEES AND APPROPRIATE REPRESENTATIVES OF THE CHURCH BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO FILING. THE FINAL FORM 990 IS ALSO PROVIDED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE'S CONFLICT OF INTEREST POLICY APPLIES TO ITS BOARD OF TRUSTEES AND OFFICERS. IT IS THE RESPONSIBILITY OF EACH TRUSTEE AND OFFICER TO ENSURE THAT APPROPRIATE REPRESENTATIVES OF THE COLLEGE ARE MADE AWARE OF SITUATIONS THAT INVOLVE PERSONAL, FAMILIAL, OR BUSINESS RELATIONSHIPS THAT COULD CONFLICT WITH THE INTERESTS OF THE COLLEGE SO THAT THE COLLEGE CAN SATISFY THE REQUIREMENTS OF ALL APPLICABLE LAWS, INCLUDING, WITHOUT LIMITATION, THE PROVISIONS OF SOUTH CAROLINA CODE ANNOTATED SECTION 33-31-831 ("STATUTE"). EACH TRUSTEE AND OFFICER IS REQUIRED ANNUALLY TO REVIEW THE CONFLICT OF INTEREST POLICY AND THE STATUTE AND DISCLOSE ANY PERSONAL, FAMILIAL, OR BUSINESS MATTERS, TRANSACTIONS, OR RELATIONSHIPS THAT REASONABLY COULD BE CONSTRUED TO GIVE RISE TO A CONFLICT OF INTEREST, REAL OR APPARENT, INVOLVING THE COLLEGE, THAT WOULD AFFECT HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN CARRYING OUT HIS OR HER DUTIES TO THE COLLEGE. IN ADDITION, EACH TRUSTEE AND OFFICER MUST DISCLOSE PROMPTLY IN WRITING ANY SUCH MATTERS, TRANSACTIONS, OR RELATIONSHIPS, NOT PREVIOUSLY DISCLOSED THAT COME TO HIS OR HER ATTENTION DURING THE COURSE OF A YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS ESTABLISHED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, IN CONSULTATION WITH THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES. THE CHIEF FINANCIAL OFFICER PROVIDES RESEARCH DETAILING PRESIDENTIAL COMPENSATION LEVELS AT PEER INSTITUTIONS TO THE CHAIRMAN OF THE BOARD AND THE GOVERNANCE COMMITTEE, WHICH ARE USED IN EVALUATING AND ESTABLISHING THE LEVEL OF COMPENSATION FOR THE PRESIDENT. FOR OTHER OFFICERS OF THE COLLEGE, DURING THE SEARCH PROCESS, A COMPENSATION COMPARABILITY STUDY IS COMPLETED. AFTER THAT, COMPENSATION INCREASES HAVE BOTH AN INFLATIONARY AND DISCRETIONARY COMPONENT THAT IS APPROVED BY THE PRESIDENT OF THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S ANNUAL AUDITED FINANCIAL STATEMENTS, IRS DETERMINATION LETTER, GOVERNING DOCUMENTS, AND FORM 990 AND SCHEDULES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN ESTIMATE OF COLLECTIBILITY OF PLEDGES RECEIVABLE 77,731. POSTRETIREMENT BENEFIT-RELATED CHANGES 1,273,662. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 258,136. SC CONFERENCE OF THE UNITED METHODIST CHURCH 4908 COLONIAL DRIVE COLUMBIA SC 29203 CHURCH SC 501(C)(3) 1 N/A 0 CHARITABLE REMAINDER UNITRUST (1) 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 CHARITABLE TRUST SC N/A T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0