2019-05-15T11:31:04-05:00 2018-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2017-07-01 570314390 Erskine College and Theological Seminary ERSK 8643798812 PO Box 338 Due West SC 29639 Christian Habeger VP Finance & Ops 8642294951 2019-05-15 1 David C Moja P00747006 6785185301 139.146.132.42 2019-05-15 12:30:53 ED P BB9C941D9017312E4EAEE769FA72F4CB3C5790C3 DFC357842FFE4B7DCEB1B0C22B45D069C995EA34 2017 2019-02-21 02:37:17Z Erskine College and Theological Seminary Rob Gustafson PO Box 338 Due West SC 29639 33632469 0 X www.erskine.edu X 1837 SC Christian liberal arts college and graduate theological seminary. 25 25 409 36 0 0 3892137 1554141 28742489 27282189 1765953 3274358 40394 89580 34440973 32200268 15500799 15085079 0 0 8330913 8502416 0 0 242904 9035860 9185813 32867572 32773308 1573401 -573040 72007055 73377177 19331247 20447698 52675808 52929479 X Erskine College exists to glorify God as a Christian academic community where students are equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education. 0 0 28623412 15085079 27328800 Erskine College is a comprehensive, fully accredited, Christian college and theological seminary offering undergraduate, master's, and doctoral degrees to approximately 700 students. The college program offers 21 baccalaureate majors, and the seminary offers 4 master's degrees and a doctor of ministry degree. Scholarships are awarded to eligible students based on financial need and academic merit allowing students to be equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education in a Christ-centered environment.The Institution conducted auxiliary enterprises for the convenience of students, faculty, staff, and the at-large community. 28623412 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 41 0 1 409 1 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Rob Gustafson 8643798812 PO Box 338 Due West SC 29639 Mr SS James Trustee - Chairman 10.00 X X 0 0 0 Dr JT Hellams Jr Trustee - Vice-Chair 10.00 X X 0 0 0 The Rev Andrew Savill Trustee - Secretary 10.00 X X 0 0 0 Mr JA Arnold Trustee 10.00 X 0 0 0 The Rev BF Bult Trustee 10.00 X 0 0 0 Mrs CE Davis Trustee 10.00 X 0 0 0 Mrs JE Gazzaway Trustee 10.00 X 0 0 0 Dr SL Gray Trustee 10.00 X 0 0 0 The Rev MV Lawing Jr Trustee 10.00 X 0 0 0 The Rev JA Loughner Trustee 10.00 X 0 0 0 Mrs DB Morris Trustee 10.00 X 0 0 0 Dr GS Query Trustee 10.00 X 0 0 0 Mrs MT Rucker Trustee 10.00 X 0 0 0 Dr HH Welch Trustee 10.00 X 0 0 0 The Rev JA Hunt Trustee 10.00 X 0 0 0 Mr AL Casterline Trustee 10.00 X 0 0 0 Dr JR Augustine Trustee 10.00 X 0 0 0 Mr CL Bethea Trustee 10.00 X 0 0 0 The Rev CH Davis Trustee 10.00 X 0 0 0 Mr PW Malphrus Trustee 10.00 X 0 0 0 Dr AJ Broyles Trustee 10.00 X 0 0 0 Mr Marshall Davis III Trustee 10.00 X 0 0 0 The Rev Dr DP Smith Trustee 11.00 X 0 0 0 The Rev LA Shelnutt Ex Officio Member 10.00 X 0 0 0 Mrs AM Grooms Ex Officio Member 10.00 X 0 0 0 Dr Robert Gustafson President 40.00 X 138500 0 3246 Mr GW Haselden part year Sr VP Fin/Ops, Treasurer 40.00 X 120892 0 8732 Dr JD Basie part year Provost of the Seminary 40.00 X 85596 0 15465 Dr RL Holmes Provost of the College 40.00 X 71300 0 0 Mrs Dena S Hodge Assistant Secretary 40.00 X 40641 0 17205 456929 0 44648 2 0 0 0 Aramark Facility Services 22506 Network Place Chicago IL 60673 Facilities Management 2531543 Aramark Services PO Box 518 Due West SC 29639 Dining Services 2295519 Ebsco Subscription Services PO Box 2543 Birmingham AL 35202 Electronic Library Services 320052 Maxima Specialty 525 Woodruff Road Greenville SC 29607 Controller Services 106800 4 479261 114633 960247 26506 1554141 Student Tuition & Fees 611710 21064055 21064055 Auxiliary Enterprises 611710 6050700 6050700 Other Program Income 611710 167434 167434 27282189 1481539 1481539 46086 6485 39601 39601 39601 3033887 1241068 1792819 1792819 1792819 6660 3292 3368 3368 227967 181356 46611 46611 32200268 27328800 0 3317327 15085079 15085079 500107 372951 115290 11866 6536585 4874609 1520470 141506 72307 53922 16669 1716 850032 632934 197281 19817 543385 405096 126265 12024 140719 140719 545957 155407 377055 13495 364908 334657 30251 49711 38377 10640 694 625312 544738 80574 973502 773012 200490 Food Service 1980362 1980362 Facility Management 1753350 1383570 369780 Athletic Teams 808349 808349 1943643 1180349 721508 41786 32773308 28623412 3906992 242904 812211 988416 0 930238 13167 184587 812274 1052785 135693 127709 86477 152925 57906170 31031250 26946564 26874920 28901322 29263285 12262105 11909371 1109306 965005 927936 927936 72007055 73377177 952159 955752 541982 648586 10124563 9763909 1630145 3316840 6082398 5762611 19331247 20447698 X 16178940 15166656 36496868 37762823 52675808 52929479 72007055 73377177 X -573040 485749 -143338 484300 X X 0 1 X 1 1 1 X 1827257 2169163 2129239 3892137 1554141 11571937 1827257 2169163 2129239 3892137 1554141 11571937 1193079 10378858 1012677 939834 894031 1011610 1527625 5385777 8906 12065 13900 7360 6660 48891 17006605 134044079 0.61030 0.68590 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Event Income - 2016 Amount: $ 7,360. 2017 Amount: $ 6,660. Other Income - 2013 Amount: $ 8,906. 2014 Amount: $ 12,065. 2015 Amount: $ 13,900. X 8 8 1 0 927936 X X 0 38616058 108381 3455690 2291655 39888474 35311874 839700 4239749 1775265 38616058 37882833 313334 -1014114 1870179 35311874 39841555 146952 561541 2667215 37882833 38994185 193973 4544867 3891470 39841555 0.10420 0.89580 0.00000 0 0 3130350 755548 3885898 43005538 21919784 21085754 10448990 8436212 2012778 565744 675254 -109510 26874920 Cash Surrender Value of Life Insurance 179141 F US Government Securities 1557947 F Other Fixed Income Investments 3901055 F Alternative Investments 203706 C Equity Securities Held at Cost 4608826 C Pooled Income Funds 50801 F Master Limited Partnership 1407895 F 11909371 US Government Loan Funds - Refundable 817025 Annuities Payable 905242 Interest Rate Swap Liability 637423 Trust Liabilities 2696835 Asset Retirement Obligations 307304 Capital Lease 398782 5762611 18133033 485749 675433 1161182 16971851 143338 15085079 15228417 32200268 17879362 191133 191133 17688229 15085079 15085079 32773308 Part II, Line 9: Revenues/expenses from conservation easements are not separately reported on the Statement of Activities, and the easements are not separately presented on the Statement of Financial Position. Part III, Line 4: The College maintains an art center that displays works of art including paintings, music boxes, furniture, and other items to the public. The collection enriches the campus community and provides the art students (stuido artists and art history majors) with examples of various art mediums used in classroom instruction. The College displays the artwork free of charge to the public. Part V, Line 4: The College's endowment intends to provide scholarships to students, help fund department chairs, and fund other restricted program expenses. Part XI, Line 2d - Other Adjustments: Unrealized Gain on Interest Rate Swap 420,552. Change in Value of Trusts and Annuities 63,748. Fundraising Event Expenses 3,292. Rental Expenses 6,485. Cost of Goods Sold 181,356. Part XI, Line 4b - Other Adjustments: Scholarships and Other Aid 15,085,079. Part XII, Line 2d - Other Adjustments: Fundraising Event Expenses 3,292. Rental Expenses 6,485. Cost of Goods Sold 181,356. Part XII, Line 4b - Other Adjustments: Scholarships and Other Aid 15,085,079. 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 Institution's racially nondiscrimination policy is made available through local print media outlets and college and seminary catalogs. Schedule E, Part I, Line 6 The College receives Federal and State funds to provide financial aid for students. 1 Scholarships 585 12562656 Athletic Scholarships 112 2522423 Part I, Line 2: The College monitors enrollment and the Financial Aid Office of the College keeps the requisite records in either an electronic or hard copy form. X 0 0 X X X X 0 0 0 0 0 0 0 0 0 Part I, Line 1a The President lives in a house that is owned by the College. Part I, Line 1b There is no written policy for the President living in the house. X 4 26506 Fair Market Value 0 0 0 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The governing body delegates broad authority to an Executive Committee consisting of the Board Officers and Board Committee Chairs. The Executive Committee has full power and authority to act and to transact any business for and on behalf of the College and in the place of the Board of Trustees during the interim between meetings of the Board of Trustees except the Executive Committee may not appoint or remove Corporate Officers, nor make a bulk sale, dissolve the corporation, alter Bylwas, or authorize degrees. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The President and Vice-Presidents are required to complete conflict of interest forms on an annual basis. All other institution staff complete the forms ever other year. These forms are reviewed by management and a report is given to the Board of Trustees each year at the February meeting. If a conflict of interest were to arise, all material facts are disclosed to the Committe on Trustees; the proposed contract, transaction, or relationship is examined to determine if it is in the best interest of the college, and the decision is documented; and the individual who has an interest excuses him/herself from the discussion preceding the vote and the vote to approve the proposed contract or transaction. Form 990, Part VI, Section B, line 15a Question 15a - The President's compensation is reviewed on an annual basis as part of a performance review by the Executive Committee. Compensation is compared against information obtained from Form 990s of other institutions similar in size to Erskine. Process includes contemporaneous substantiation of the deliberation and decision. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part XI, line 9: Unrealized Gain on Interest Rate Swap 420,552. Change in Value of Split-Interest Agreements 63,748. Form 990, Part XII, Line 2c: The process for oversight of the audit and selection of an independent accountant has not changed from the prior year. Form 990, Part VI, Line 7a/7b: The College is an institution of the General Synod of the Associate Reformed Presbyterian Church (ARPC). The ARPC appoints the College's trustees and must approve all changes or amendments to the College's charter. General Synod of the Associate Reformed Presbyterian Church 1 Cleveland St Ste 110 Greenville SC 29601 576030380 Convention of churches SC 501(c)(3) Line 1 N/A 0 Charitable remainder unitrust (8) Trust SC Erskine College and Theological Seminary 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 General Synod of the Associate Reformed Presbyterian Church C 479261 Cash