2018-05-15T13:11:39-05:00 2017-06-30 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2016-07-01 570314422 Wofford College WOFF 8645974226 429 North Church Street Spartanburg SC 293033663 barbara f jefferson CHIEF FINANCIAL OFFICER 8645974226 2018-05-15 1 Amanda Adams P00748038 7043771678 2016 2022-09-23 18:48:47Z NAYEF H SAMHAT 429 North Church Street Spartanburg SC 293033663 222403122 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 28 1185 40 0 0 87065329 18712381 80349808 85243107 6916814 5529074 2007406 50557 176339357 109535119 32786481 35148934 0 0 34737735 35833178 0 0 2426957 28369730 32965400 95893946 103947512 80445411 5587607 399426886 463591029 87523916 127241977 311902970 336349052 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 35148934 35148934 The College is committed to affordability and access to students of all backgrounds. The College distributed in excess of $35 million in financial aid to assist students in meeting the financial obligations of attending the institution. 27399197 80445334 THE COLLEGE PROVIDED LIBERAL ARTS EDUCATIONS TO APPROXIMATELY 1,670 FULL-TIME EQUIVALENT STUDENTS FOR 2016-17, GRADUATING APPROXIMATELY 350 STUDENTS WITH BA OR BS DEGREES. 31016494 4797773 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. 93564625 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 1 1 0 0 0 0 1 0 0 0 1 334 0 1 1185 1 0 0 0 0 0 1 1 0 0 0 0 X 31 28 1 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 WILLIAM R COBB 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 JORDAN GLATT 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 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 JEROME J RICHARDSON TRUSTEE 1.00 X 0 0 0 JOE E TAYLOR JR 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 Nayef Samhat President 40.00 X 356110 0 90060 David Wood Senior VP for Development 40.00 X 221372 0 31536 David Beacham Senior VP for Administration 40.00 X 138406 0 20702 Barbara Jefferson Chief Financial Officer 40.00 X 163109 0 22623 Mike Sosulski Provost 40.00 X 74313 0 27728 Michael Ayers Head Football Coach 40.00 X 214230 0 52585 Richard Johnson Director of Athletics 40.00 X 138313 0 20805 Michael Young Head Basketball Coach 40.00 X 202804 0 27342 Calhoun Kennedy Assoc VP/Exec Director Development 40.00 X 140815 0 29307 Boyce Lawton Dean for Student Success 40.00 X 141947 0 20069 1791419 0 342757 23 0 1 0 THE ROBINS & MORTON GROUP 123 DUNBAR STREET Spartanburg SC 29306 CONSTRUCTION 48747522 MCMILLAN PAZDAN SMITH ARCHITECTURE LLC 127 DUNBAR STREET Spartanburg SC 29306 ARCHITECTURAL SERVICES 1528627 H GENERAL CONTRACTORS LLC 780 E MAIN STREET Spartanburg SC 29302 CONTRACTOR 300295 MEDIA SUPPORT GROUP LTD 1303 82ND STREET STE 550 LUBBOCK TX 79423 VIDEO SYSTEM DESIGN 191811 CANNON ROOFING LLC 283 VINTAGE DRIVE Spartanburg SC 29307 ROOFING 184937 6 239113 401853 415945 17655470 1576338 18712381 tuition 611600 80445334 80445334 athletic program revenue 711210 1912893 1912893 FOREIGN STUDY ADMINISTRATION 900099 452130 452130 special program funding revenue 611600 372409 372409 Camp Revenue 900009 360641 360641 1699700 1699700 85243107 2297851 2297851 275910 145992 129918 129918 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131010802 140610574 311902970 336349052 399426886 463591029 X 5587607 17373192 1485283 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 172366619 9306857 21499220 6198672 2584349 194389675 184707575 4529973 -8375296 8495633 172366619 191830918 3803113 -3555275 5068542 2302639 184707575 167509297 2875728 31180862 4764591 4970378 191830918 154162683 2170982 17619899 4452450 1991817 167509297 0.01230 0.72060 0.26710 0 0 3236407 30882389 34118796 170672041 84930372 85741669 48008173 23889982 24118191 45531046 45531046 189509702 absolute return funds 13104892 F directional hedge funds 21879639 F equity common and commingled trust funds 69368759 F inflation hedging common trust funds 13375911 F 117729201 advances from federal government 296333 postretirement benefits obligation 7896341 asset retirement obligations 531909 Advances under Line of Credit 1950000 10674583 X 91416714 17373192 -34565399 -17192207 108608921 1200000 -273802 926198 109535119 67872380 273802 273802 67598578 1200000 35148934 36348934 103947512 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, 2017 and 2016. Part XI, Line 2d - Other Adjustments: Student assistance -35,148,934. Change in Estimate of Collectibility of Pledges Receivable 194,140. Change in Value of Split Interest Agreements 389,395. Part XI, Line 4b - Other Adjustments: Fundraising event expenses shown net of revenues on financials -127,810. rental expenses shown net of revenue on 990 -145,992. Part XII, Line 2d - Other Adjustments: Fundraising event expenses shown net of revenues on financials 127,810. rental expenses shown net of revenue on 990 145,992. Part XII, Line 4b - Other Adjustments: Student assistance 35,148,934. 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 28886000 0 0 0 0 0 0 28886000 0 28886000 0 0 1 0 0 0 TC BAll 258497 221017 37480 14877 37480 12112 23343 Golf Tournament 29065 18096 10969 13038 2255 24705 287562 239113 48449 27915 39735 12112 48048 127810 -79361 1 FINANCIAL AID (SCHOLARSHIPS AND GRANTS) 1542 8234151 26914783 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 356110 0 0 0 0 0 48850 0 41210 0 446170 0 0 0 David Wood Senior VP for Development 221372 0 0 0 0 0 19358 0 12178 0 252908 0 0 0 David Beacham Senior VP for Administration 138406 0 0 0 0 0 12614 0 8088 0 159108 0 0 0 Barbara Jefferson Chief Financial Officer 163109 0 0 0 0 0 14658 0 7965 0 185732 0 0 0 Michael Ayers Head Football Coach 214230 0 0 0 0 0 44147 0 8438 0 266815 0 0 0 Richard Johnson Director of Athletics 138313 0 0 0 0 0 12690 0 8115 0 159118 0 0 0 Michael Young Head Basketball Coach 202804 0 0 0 0 0 19138 0 8204 0 230146 0 0 0 Calhoun Kennedy Assoc VP/Exec Director Development 140815 0 0 0 0 0 13435 0 15872 0 170122 0 0 0 Boyce Lawton Dean for Student Success 141947 0 0 0 0 0 12131 0 7938 0 162016 0 0 0 Part I, Line 1a THE COLLEGE PROVIDES HOUSING TO BOTH THE PRESIDENT AND THE SENIOR VICE PRESIDENT FOR DEVELOPMENT 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 2016, 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 1560000 4680000 65865 4614135 2007 0 0 1 1 B 7022340 28450000 100000 28350000 2012 0 0 1 1 C 50000000 205398 49794602 2018 0 0 0 1 D 230000 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 CAROLINA PANTHERS JERRY RICHARDSON, DANNY MORRISON, & ASHLEY ALLEN ARE TRUSTEES 182000 THE CAROLINA PANTHERS PAY THE COLLEGE TO HOST THEIR TRAINING CAMP. FEES WERE NEGOTIATED AT ARM'S LENGTH AND ARE AT FAIR MARKET VALUE. 0 X 33 981588 fmv quoted market price X 1 575000 appraised value X Meals, Other 5 19750 FMV 1 0 1 1 Part I, Line 32b: WOFFORD COLLEGE USES REAL ESTATE AGENTS TO SELL DONATED REAL ESTATE. Form 990, Part VI, Section A, line 2 MR. JERRY RICHARDSON AND DR. DANNY MORRISON, TWO MEMBERS OF THE BOARD OF TRUSTEES, HAVE A BUSINESS RELATIONSHIP. MR. JERRY RICHARDSON AND MRS. ASHLEY RICHARDSON ALLEN HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP. 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. 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 194,140. POSTRETIREMENT BENEFIT-RELATED CHANGES 901,748. change in value of split interest agreements 389,395. 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