2019-05-22T19:14:09-05:00 2018-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2017-07-01 570314422 WOFFORD COLLEGE WOFF 8645974226 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 CHRISTOPHER L GARDNER CHIEF FINANCIAL OFFICER 8645974226 2019-05-22 1 AMANDA ADAMS P00748038 7043771678 66.168.122.91 2019-05-22 16:18:33 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0B670C8C210F0245D71F1F8B052AA4E3CE9649D0 2017 2019-02-21 02:37:17Z NAYEF H SAMHAT 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 145770585 0 X WWW.WOFFORD.EDU X 1854 SC THE PURPOSE OF WOFFORD COLLEGE IS TO FUNCTION AS A LIBERAL ARTS INSTITUTION OF SUPERIOR QUALITY. 31 31 1207 40 0 0 18712381 17690112 85243107 89085319 5529074 1680849 50557 3142608 109535119 111598888 35148934 37509235 0 0 35833178 38087810 0 0 2498060 32965400 34683712 103947512 110280757 5587607 1318131 463591029 460340168 127241977 106742974 336349052 353597194 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 65773017 37509235 84672535 THE COLLEGE PROVIDED A LIBERAL ARTS EDUCATION TO APPROXIMATELY 1,670 STUDENTS FOR 2017-18, GRADUATING APPROXIMATELY 400 STUDENTS WITH BA OR BS DEGREES.THE COLLEGE IS COMMITTED TO AFFORDABILITY AND ACCESS TO STUDENTS OF ALL BACKGROUNDS. THE COLLEGE DISTRIBUTED IN EXCESS OF $37 MILLION IN FINANCIAL AID TO ASSIST STUDENTS IN MEETING THE FINANCIAL OBLIGATIONS OF ATTENDING THE INSTITUTION. 33057744 4412784 THE COLLEGE PROVIDED AUXILIARY SERVICES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF AND THE COMMUNITY. SUCH AUXILIARY ENTERPRISES INCLUDE STUDENT HOUSING, ATHLETIC TEAMS AND CONTESTS, AND THE WELLNESS CENTER. 98830761 1 1 0 0 0 0 0 0 0 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 1 318 0 1 1207 1 0 0 0 0 0 1 1 0 0 0 0 X 31 31 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 SC X CHRISTOPHER GARDNER 8645974232 429 NORTH CHURCH STREET SPARTANBURG SC 29303 R MICHAEL JAMES CHAIR 1.00 X 0 0 0 JAMES MILTON JOHNSON VICE CHAIR 1.00 X 0 0 0 THE HON COSTA M PLEICONES SECRETARY 1.00 X 0 0 0 ASHLEY RICHARDSON ALLEN TRUSTEE 1.00 X 0 0 0 CHRISTOPHER A P CARPENTER TRUSTEE 1.00 X 0 0 0 JUSTIN A CONVERSE TRUSTEE 1.00 X 0 0 0 JIMMY I GIBBS TRUSTEE 1.00 X 0 0 0 D CHRISTIAN GOODALL TRUSTEE 1.00 X 0 0 0 H NEEL HIPP JR TRUSTEE 1.00 X 0 0 0 REV JOHN W HIPP TRUSTEE 1.00 X 0 0 0 LAURA J HOY TRUSTEE 1.00 X 0 0 0 STEWART H JOHNSON TRUSTEE 1.00 X 0 0 0 DOUGLAS H JOYCE TRUSTEE 1.00 X 0 0 0 REV WILLIAM F MALAMBRI III TRUSTEE 1.00 X 0 0 0 JODIE W MCLEAN TRUSTEE 1.00 X 0 0 0 JAMES C MEADORS TRUSTEE 1.00 X 0 0 0 CRAIG D MELVIN TRUSTEE 1.00 X 0 0 0 BETTY J MONTGOMERY TRUSTEE 1.00 X 0 0 0 DR DANIEL B MORRISON JR TRUSTEE 1.00 X 0 0 0 STEPHEN W MUNGO TRUSTEE 1.00 X 0 0 0 WENDI M NIX TRUSTEE 1.00 X 0 0 0 CORRY W OAKES III TRUSTEE 1.00 X 0 0 0 L LEON PATTERSON TRUSTEE 1.00 X 0 0 0 STANLEY E PORTER TRUSTEE 1.00 X 0 0 0 J PATRICK PROTHRO TRUSTEE 1.00 X 0 0 0 J EDWIN REEVES JR TRUSTEE 1.00 X 0 0 0 JOE E TAYLOR JR TRUSTEE 1.00 X 0 0 0 JOSHUA S WHITLEY TRUSTEE 1.00 X 0 0 0 EDWARD B WILE TRUSTEE 1.00 X 0 0 0 BISHOP WILLIAM H WILLIMON TRUSTEE 1.00 X 0 0 0 JOYCE PAYNE YETE TRUSTEE 1.00 X 0 0 0 NAYEF SAMHAT PRESIDENT 40.00 X 381457 0 90452 DAVID WOOD SENIOR VP FOR DEVELOPMENT 40.00 X 219263 0 31978 DAVID BEACHAM SENIOR VP FOR ADMINISTRATION 40.00 X 141197 0 20859 BARBARA JEFFERSON CHIEF FINANCIAL OFFICER 40.00 X 154475 0 26307 MIKE SOSULSKI PROVOST 40.00 X 153960 0 55528 MICHAEL AYERS HEAD FOOTBALL COACH 40.00 X 227243 0 52974 MICHAEL YOUNG HEAD BASKETBALL COACH 40.00 X 213613 0 27812 RICHARD JOHNSON DIRECTOR OF ATHLETICS 40.00 X 145060 0 21280 CALHOUN KENNEDY ASSOC VP/EXEC DIRECTOR DEVELOPMENT 40.00 X 144503 0 29615 BOYCE LAWTON DEAN FOR STUDENT SUCCESS 40.00 X 142617 0 20595 1923388 0 377400 24 0 1 0 THE ROBINS & MORTON GROUP 400 SHADES CREEK PARKWAY BIRMINGHAM AL 35209 CONSTRUCTION 13400452 MCMILLAN PAZDAN SMITH ARCHITECTURE LLC PO BOX 5331 SPARTANBURG SC 29304 ARCHITECTURAL SERVICES 1372053 H GENERAL CONTRACTORS LLC 780 E MAIN STREET SPARTANBURG SC 29302 CONTRACTOR 1090276 SPARTANBURG REGIONAL MEDICAL CENTER 101 E WOOD STREET SPARTANBURG SC 29303 MEDICAL SERVICES 152672 CANNON ROOFING LLC PO BOX 3030 SPARTANBURG SC 29304 ROOFING 145757 6 129946 392121 284756 16883289 1219490 17690112 TUITION 611600 84672535 84672535 ATHLETIC PROGRAM REVENUE 711210 2155174 2155174 CAMP REVENUE 900009 460039 460039 FOREIGN STUDY ADMINISTRATION 900099 400772 400772 SPECIAL PROGRAM FUNDING REVENUE 611600 339023 339023 1057776 1057776 89085319 2815023 2815023 313381 138468 174913 174913 174913 32734629 33868803 -1134174 -1134174 -1134174 96195 129946 164426 -68231 -68231 GAIN ON EXTINGUISHMENT OF DEBT 900099 3035926 3035926 3035926 111598888 89085319 0 4823457 37509235 37509235 1275476 849610 118265 307601 27848236 23731552 2776098 1340586 2083462 1778860 197257 107345 4669894 3197651 1271153 201090 2210742 1869220 218660 122862 1243211 1243211 1276539 924600 276402 75537 2700783 2270639 331102 99042 1050031 921911 91903 36217 4826888 4826888 2099991 1824834 172444 102713 1651133 1651133 8723127 8458770 264357 599623 197426 402197 FOOD SERVICES 4274939 4274939 HOSPITALITY 1186477 1097310 89167 ATHLETICS 763630 763630 BOOKS/PERIODICALS 621828 621828 3665512 2060725 1499720 105067 110280757 98830761 8951936 2498060 24122187 13577575 55821222 36614041 632945 661358 910042 1036121 320136071 117574838 189509702 202561233 71020591 76470101 117729201 125830621 213599 159900 3631540 3429218 463591029 460340168 8017207 6191722 6890604 7843562 100872109 82683190 11462057 10024500 127241977 106742974 X 53010339 134196757 142728139 73785856 140610574 145614581 336349052 353597194 463591029 460340168 X 1318131 15325973 604038 X 0 1 X 1 1 1 X 8120532 15572309 87065329 18712381 17690112 147160663 8120532 15572309 87065329 18712381 17690112 147160663 33060135 114100528 1660527 1335442 1360538 2573761 3128404 10058672 157219335 408133563 0.72570 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. 194389675 4667684 15657920 6251474 2473249 205990556 172366619 9306857 21499220 6198672 2584349 194389675 184707575 4529973 -8375296 8495633 172366619 191830918 3803113 -3555275 5068542 2302639 184707575 167509297 2875728 31180862 4764591 4970378 191830918 0.01300 0.70420 0.28280 0 0 3152944 31878811 35031755 223254168 94788128 128466040 53669464 22786710 30882754 8180684 8180684 202561233 ABSOLUTE RETURN FUNDS 16099454 F DIRECTIONAL HEDGE FUNDS 25237726 F EQUITY COMMON AND COMMINGLED TRUST FUNDS 74447954 F INFLATION HEDGING COMMON TRUST FUNDS 10045487 F 125830621 ADVANCES FROM FEDERAL GOVERNMENT 195426 POSTRETIREMENT BENEFITS OBLIGATION 7463963 ASSET RETIREMENT OBLIGATIONS 478509 ADVANCES UNDER LINE OF CREDIT 1300000 CAPITAL LEASES PAYABLE 586602 10024500 X 88646969 15325973 -37337575 -22011602 110658571 1243211 -302894 940317 111598888 71831205 302894 302894 71528311 1243211 37509235 38752446 110280757 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 900 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING ACADEMIC SCHOLARSHIPS, ENDOWED CHAIRS, AND OTHER OPERATIONS OF THE COLLEGE. PART X, LINE 2: THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. 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, 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT ASSISTANCE -37,509,235. CHANGE IN ESTIMATE OF COLLECTIBILITY OF PLEDGES RECEIVABLE 43,299. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 128,361. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES SHOWN NET OF REVENUES ON FINANCIALS -164,426. RENTAL EXPENSES SHOWN NET OF REVENUE ON 990 -138,468. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES SHOWN NET OF REVENUES ON FINANCIALS 164,426. RENTAL EXPENSES SHOWN NET OF REVENUE ON 990 138,468. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT ASSISTANCE 37,509,235. 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. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 30536174 0 0 0 0 0 0 30536174 0 30536174 1 0 1 1 0 0 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 FY18. TERRIER BALL 201856 124156 77700 50615 38756 23169 GOLF TOURNAMENT 24285 5790 18495 17504 34382 226141 129946 96195 68119 38756 57551 164426 -68231 1 FINANCIAL AID (SCHOLARSHIPS AND GRANTS) 1582 8585658 28923577 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 0 1 0 0 0 0 0 0 0 NAYEF SAMHAT PRESIDENT 381457 0 0 0 0 0 49300 0 41152 0 471909 0 0 0 DAVID WOOD SENIOR VP FOR DEVELOPMENT 219263 0 0 0 0 0 19858 0 12120 0 251241 0 0 0 DAVID BEACHAM SENIOR VP FOR ADMINISTRATION 141197 0 0 0 0 0 12929 0 7930 0 162056 0 0 0 BARBARA JEFFERSON CHIEF FINANCIAL OFFICER 154475 0 0 0 0 0 15394 0 10913 0 180782 0 0 0 MIKE SOSULSKI PROVOST 153960 0 0 0 0 0 14520 0 41008 0 209488 0 0 0 MICHAEL AYERS HEAD FOOTBALL COACH 227243 0 0 0 0 0 44594 0 8380 0 280217 0 0 0 MICHAEL YOUNG HEAD BASKETBALL COACH 213613 0 0 0 0 0 19666 0 8146 0 241425 0 0 0 RICHARD JOHNSON DIRECTOR OF ATHLETICS 145060 0 0 0 0 0 13195 0 8085 0 166340 0 0 0 CALHOUN KENNEDY ASSOC VP/EXEC DIRECTOR DEVELOPMENT 144503 0 0 0 0 0 13767 0 15848 0 174118 0 0 0 BOYCE LAWTON DEAN FOR STUDENT SUCCESS 142617 0 0 0 0 0 12686 0 7909 0 163212 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES HOUSING TO BOTH THE PRESIDENT AND THE PROVOST FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THEY CAN EACH PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. THIS BENEFIT IS NONTAXABLE. PART I, LINE 4B MIKE AYERS IS THE ONLY ACTIVE PARTICIPANT IN THE 457F PLAN. IN 2017, THERE WERE $25,000 OF EMPLOYEE CONTRIBUTIONS MADE TO THE PLAN. A SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY-SERIES B 576000286 281901CA4 2007-03-28 4680000 EDUCATIONAL FACILITIES REVENUE 0 0 0 B SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2010-12-23 25000000 ECONOMIC DEVELOPMENT REVENUE BONDS 0 0 0 C SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2015-11-05 50000000 ECONOMIC DEVELOPMENT REVENUE BONDS 0 0 0 D SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2016-07-13 24360000 ECONOMIC DEVELOPMENT REVENUE BONDS 0 0 0 A 1820000 4680000 65865 4614135 2007 0 0 1 1 B 10810638 28450000 100000 28350000 2012 0 0 1 1 C 13600000 50000000 205398 49794602 2018 0 0 0 1 D 955000 27794978 310328 27484650 2017 0 1 1 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 0 1 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 1 1 BB&T 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 1 B 1 C 1 D 1 X 65 1131553 FMV QUOTED MARKET PRICE X MEALS, OTHER 6 87937 FMV 1 0 1 0 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 PROVIDED TO THE FULL BOARD AFTER 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 43,299. POSTRETIREMENT BENEFIT-RELATED CHANGES 432,378. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 128,361. SC CONFERENCE OF THE UNITED METHODIST CHURCH 4908 COLONIAL DRIVE COLUMBIA SC 29203 CHURCH SC 501(C)(3) 1 N/A 0 CHARITABLE REMAINDER UNITRUSTS (5) 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 LATE FILED RETURN DUE TO CCH SOFTWARE OUTAGE