2021-05-11T12:50:25-05:00 2020-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2019-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 PATRICIA CONSTANTINO ASSISTANT VP OF FINANCE/CONTROLLER 6177453000 2021-05-04 1 DAVID A DIIULIS P00303577 6174711120 2021-05-04 2019 2022-09-23 18:48:47Z PATRICIA CONSTANTINO 23 EAST ELM AVENUE QUINCY MA 02170 40910901 0 X WWW.ENC.EDU X 1920 MA THE MISSION OF EASTERN NAZARENE COLLEGE IS TO SERVE GOD, THE CHURCH, AND THE WORLD BY PROVIDING A QUALITY LIBERAL ARTS EDUCATION TO STUDENTS OF ALL AGES. CONSISTENT WITH ITS WESLEYAN HERITAGE, ENC SEEKS TO CREATE AND MAINTAIN AN ENVIRONMENT WHICH AWAKENS AND FOSTERS TRUTH, RIGHTEOUSNESS, JUSTICE AND HOLINESS AS MADE POSSIBLE BY GOD'S TRANSFORMING GRACE THROUGH JESUS CHRIST. 33 33 678 0 0 0 3443843 2912370 23910756 22827786 -114055 54206 337797 374913 27578341 26169275 10025105 9983191 0 0 11853150 12274225 0 0 894871 7807252 8455466 29685507 30712882 -2107166 -4543607 48742447 41259818 24034950 20924095 24707497 20335723 X THE MISSION OF EASTERN NAZARENE COLLEGE IS TO SERVE GOD, THE CHURCH, AND THE WORLD BY PROVIDING A QUALITY LIBERAL ARTS EDUCATION TO STUDENTS OF ALL AGES. CONSISTENT WITH ITS WESLEYAN HERITAGE, ENC SEEKS TO CREATE AND MAINTAIN AN ENVIRONMENT WHICH AWAKENS AND FOSTERS TRUTH, RIGHTEOUSNESS, JUSTICE AND HOLINESS AS MADE POSSIBLE BY GOD'S TRANSFORMING GRACE THROUGH JESUS CHRIST. 0 0 21411322 9983191 22827786 COLLEGE GRANTS BACHELOR AND MASTER DEGREES TO QUALIFIED CANDIDATES UPON SATISFACTORY COMPLETION OF THEIR PROGRAM REQUIREMENTS. TO ACCOMPLISH THIS PURPOSE, THE COLLEGE ENROLLED 1,300 FULL AND PART-TIME UNDERGRADUATE AND GRADUATE STUDENTS, WITH A VAST MAJORITY OF THESE STUDENTS LIVING IN CAMPUS HOUSING. THE COLLEGE OPERATES A BOOKSTORE AND CAFETERIA FOR THE PRIMARY USE OF THE STUDENTS, FACULTY, AND STAFF. THE COLLEGE OPERATES HOUSING FACILITIES FOR STUDENTS, FACULTY, AND STAFF TO MEET THE EXISTING NEEDS FOR SUCH FACILITIES. 21411322 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 25 0 1 678 1 0 0 0 0 0 0 0 0 0 0 X 33 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X BUSINESS OFFICE 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 X DR RUSSELL J LONG BOARD CHAIR 0.60 X X 0 0 0 DR MARK PRUGH BOARD VICE CHAIR 0.60 X X 0 0 0 DR DOUG KITCHEN BOARD SECRETARY 0.60 X X 0 0 0 DR JULIE BAUSMAN TRUSTEE 0.60 X 0 0 0 REV LEON BLAISE TRUSTEE 0.60 X 0 0 0 REV JERRY BOHALL TRUSTEE 0.60 X 0 0 0 DR DAVID BOWSER TRUSTEE 0.60 X 0 0 0 DR STEVE CHAMBERS TRUSTEE 0.60 X 0 0 0 DR JEFF COOK TRUSTEE 0.60 X 0 0 0 SCOTT COOK TRUSTEE 0.60 X 0 0 0 REV STEVE DILLMAN TRUSTEE 0.60 X 0 0 0 BECKY DUNMAN TRUSTEE 0.60 X 0 0 0 DR MELODY ECKARDT TRUSTEE 0.60 X 0 0 0 REV DAN EDDINGS TRUSTEE 0.60 X 0 0 0 G WAYNE ELLIOTT JR TRUSTEE 0.60 X 0 0 0 REV JOHN EVANS TRUSTEE 0.60 X 0 0 0 DR PHIL FULLER TRUSTEE 0.60 X 0 0 0 DR WENTON FYNE TRUSTEE 0.60 X 0 0 0 LEAH GARRETT TRUSTEE 0.60 X 0 0 0 REV JAMES HEYWARD TRUSTEE 0.60 X 0 0 0 REV JIM JACKSON TRUSTEE 0.60 X 0 0 0 KRISTEN JOHNSON TRUSTEE 0.60 X 0 0 0 REV DOUG MILNE TRUSTEE 0.60 X 0 0 0 LAURA NASE TRUSTEE 0.60 X 0 0 0 DR DICK PRITCHARD TRUSTEE 0.60 X 0 0 0 CYNTHIA QUINLAN TRUSTEE 0.60 X 0 0 0 JIM REARICK TRUSTEE 0.60 X 0 0 0 REV KEN STANFORD TRUSTEE 0.60 X 0 0 0 MARIKAE TOYE TRUSTEE 0.60 X 0 0 0 DR SAM VASSEL TRUSTEE 0.60 X 0 0 0 JIM WESLOW TRUSTEE 0.60 X 0 0 0 REV KERRY WILLIS TRUSTEE 0.60 X 0 0 0 REV KYUNG YU TRUSTEE 0.60 X 0 0 0 JEFFREY KIRKSEY VP OF STUDENT DEVELOPMENT 40.00 X 118106 0 23237 SAMUEL CONNELL PRESIDENT 40.00 X 198038 0 32997 ROBERT MURPHY ASSISTANT PROFESSOR OF BUSINESS 40.00 X 110451 0 22211 426595 0 78445 3 0 0 0 PIONEER COLLEGE CATERERS INC 12351 W 96TH TERRACE SUITE 204-W LENEXA KS 66215 FOOD SERVICES 900467 TREE OF LIFE BOOKSTORE LP 1500 S WESTERN AVE MARION IN 46953 DATA SYSTEM SUPPORT 599238 SSC INC 25 CONTROLS DRIVE SHELTON CT 60484 SECURITY 259703 ENTERCOM COMMUNICATIONS CORP PO BOX 74090 CLEVELAND OH 44194 MARKETING SUPPORT 240025 TAYLOR MADE CONTRACTING LLC 25 HAVARD STREET WEYMOUTH MA 02188 PROPERTY IMPROVEMENTS 145065 5 36450 172389 2703531 30046 2912370 TUITION AND FEES 900099 17551654 17551654 ROOM AND BOARD 900099 3904771 3904771 AUXILIARY ENTERPRISES 900099 1371361 1371361 22827786 130439 130439 401656 107606 294050 294050 294050 14494048 14570281 -76233 -76233 -76233 0 36450 42566 -42566 -42566 29385 21173 8212 8212 MISCELLANEOUS REVENUE 900099 115217 115217 115217 26169275 22943003 0 313902 9983191 9983191 9180301 6360084 2376720 443497 343357 232176 100502 10679 2140674 993382 1083555 63737 609893 415941 163542 30410 65955 65955 72368 72368 32811 32811 2450136 1717916 729220 3000 568195 263806 68664 235725 755576 289825 384720 81031 207122 207122 728398 246804 481594 220410 182210 19902 18298 5116 4688 133 295 817719 817719 1375690 466127 909563 297166 26244 270922 MISCELLANEOUS EXPENSES 555108 228928 317981 8199 SCHOLARSHIPS 303696 303696 30712882 21411322 8406689 894871 891799 3126515 958504 965535 123171 98926 1349766 1411720 577435 472202 34932 38213 300410 224193 50465707 34178061 16616901 16287646 27676822 18427654 212707 207214 48742447 41259818 4972846 2983263 723805 505712 130157 264643 18208142 15135862 0 2034615 24034950 20924095 X 5274148 1736219 19433349 18599504 24707497 20335723 48742447 41259818 X -4543607 -377167 549000 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19545720 391740 1353341 1110114 132053 1295228 18753406 19548765 402755 1867319 1075117 39516 1158486 19545720 18046750 333724 3359146 1038554 39054 1113247 19548765 16965848 455612 2381908 562797 70357 1123464 18046750 16206256 29406 1280066 495729 41119 283029 16965848 0.03430 0.23660 0.72910 0 0 704742 704742 11847147 8783027 3064120 16510705 9006632 7504073 21403113 16388402 5014711 16287646 REAL ESTATE HELD FOR INVESTMENT PURPOSES 15707371 F PUBLIC SECURITIES 1163438 F PRIVATELY HELD SECURITIES 4000 F MUTUAL FUNDS 1521310 F LIMITED PARTNERSHIP 31535 F 18427654 PAYCHECK PAYROLL PROTECTION LOAN 2034615 2034615 X 25861340 -377167 69232 -307935 26169275 0 26169275 30782114 69232 69232 30712882 0 30712882 PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE LARGELY COMPRISED OF SCHOLARSHIP FUNDS. THE GOAL OF THE COLLEGE'S ENDOWMENT SPENDING AND DISTRIBUTION POLICY IS TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT AND PROVIDE PREDICTABLE SUPPORT OF THESE SCHOLARSHIPS, AS WELL AS OPERATIONS. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" (MLTN) SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. ALTHOUGH THE COLLEGE IS EXEMPT FROM INCOME TAXES IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, IT MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. THE COLLEGE DOES NOT EXPECT ANY MATERIAL CHANGES IN ITS POSITION REGARDING THIS MATTER IN THE NEXT TWELVE MONTHS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 42,566. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 21,173. CHANGES IN THE VALUE OF ASSETS HELD IN TRUST BY OTHERS 5,493. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 21,173. DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 42,566. CHANGES IN THE VALUE OF ASSETS HELD IN TRUST BY OTHERS 5,493. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN CATALOGS, FINANCIAL AID AND REGISTRATION INFORMATION, MAILINGS, AND EMPLOYEE HANDBOOK. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES CERTAIN FINANCIAL ASSISTANCE FROM GOVERNMENT AGENCIES TO PROVIDE AID TO STUDENTS FOR TUITION, BOOKS, AND OTHER EDUCATIONAL EXPENSES. CELEBRATION DINNER 36450 36450 27033 HOMECOMING 15533 36450 36450 42566 42566 -42566 1 VARIOUS INSTITUTIONAL SCHOLARSHIPS 676 9983191 FMV PART I, LINE 2: THE COLLEGE FIRST INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY, REVIEWING BALANCES, AND CHECKING COMPLIANCE WTIH APPLICABLE AGENCY AND FEDERAL GUIDELINES. THE COLLEGE ALSO MAKES SURE THAT THE EXPENSE FALLS WITHIN THE REQUIRED CATEGORY AND BUDGETARY AMOUNT. THIS INCLUDES REVIEWING EXPENSE CATEGORIES, REBUDGETING OR TRANSFERRING EXPENSES AS NEEDED, AND DETERMINING IF THE AWARD WILL BE UNDERSPENT AT THE END OF THE BUDGET OR GRANT PERIOD. X X 0 0 0 0 0 0 0 0 0 SAMUEL CONNELL PRESIDENT 198038 0 0 0 0 0 0 0 32997 0 231035 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY REVENUE BONDS SERIES 2014 2014-07-16 23000000 DEBT REFINANCING AND CAPITAL PROJECTS 0 0 0 A 23000000 924096 300385 6803888 14971631 2015 1 0 1 1 A 0 0 0 1 0 0 0 0 0 X 3 30046 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B BOARD MEMBERS ARE GIVEN THE OPPORTUNITY TO REVIEW AND EXAMINE THE FORM 990 FOR ACCURACY. UPON APPROVAL BY THE CHAIRMAN OF THE BOARD AND THE FINANCE COMMITTEE CHAIRMAN, THIS FORM IS FILED. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO ATTEST ANNUALLY TO THEIR FAMILIARITY WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 A DELEGATED COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DELIBERATING AND DECIDING ON AN APPROPRIATE COMPENSATION FOR THE PRESIDENT, VICE-PRESIDENTS, AND OTHER KEY EMPLOYEES. THIS COMMITTEE CONSISTS OF IMPARTIAL DECISION MAKERS; UTILIZES COMPARABILITY DATE; AND DOCUMENTS ALL DECISIONS AND DELIBERATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE DOES NOT MAKE ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE COLLEGE'S FINANCIAL STATEMENTS ARE REQUIRED TO BE ATTACHED TO THE COLLEGE'S STATE INFORMATIONAL RETURN (I.E. MASSACHUSETTS FORM PC) ON AN ANNUAL BASIS. BOTH THE COLLEGE'S STATE INFORMATIONAL RETURN AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AND UPON REQUEST. FORM 990, PART XI, LINE 9: RESTATEMENT 549,000. FORM 990, PART XII, LINE 2C THE FINANCE COMITTEE ASSUMES OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. EASTERN NAZARENE COLLEGE FOUNDATION 23 EAST ELM AVENUE QUINCY MA 02170 205469178 PROVIDE SUPPORT AND GUIDANCE TO THE COLLEGE MA 501(C)(3) 11A TYPE I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0