2018-05-14T14:45:12-05:00 2017-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2016-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 JAN WEISEN VICE PRESIDENT OF FINANCE 6177453000 2018-05-14 1 DAVID A DIIULIS P00303577 6174711120 2018-04-25 2016 2022-09-23 18:48:47Z PATRICIA CONSTANTINO 23 EAST ELM AVENUE QUINCY MA 02170 48843237 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. 43 43 710 110 0 0 2907587 3690910 24583326 24422495 288338 448181 172883 324700 27952134 28886286 9275853 10249610 0 0 13272133 12483338 0 0 931872 9633072 11824091 32181058 34557039 -4228924 -5670753 57210614 56252622 27959472 30969614 29251142 25283008 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 21192481 10249610 24422495 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. 21192481 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 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 33 0 1 710 1 0 0 0 0 0 0 0 0 X 43 43 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X BUSINESS OFFICE 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 ARTHUR ALEXANDER TRUSTEE 0.60 X 0 0 0 MICHAEL ASPINALL TRUSTEE 0.60 X 0 0 0 JERRY BOHALL TRUSTEE 0.60 X 0 0 0 STEVE CHAMBERS TRUSTEE 0.60 X 0 0 0 DAN CHUNG TRUSTEE 0.60 X 0 0 0 JEFF COOK TRUSTEE 0.60 X 0 0 0 ROBERT CORNELL TRUSTEE 0.60 X 0 0 0 HUMPHREY CROOKENDALE TRUSTEE 0.60 X 0 0 0 KENNETH CULBERTSON TRUSTEE 0.60 X 0 0 0 JILL DEAN TRUSTEE 0.60 X 0 0 0 BECKY DUNMAN TRUSTEE 0.60 X 0 0 0 DEB EDDINGS TRUSTEE 0.60 X 0 0 0 JOHN EVANS TRUSTEE 0.60 X 0 0 0 J PHILLIP FULLER TRUSTEE 0.60 X 0 0 0 WENTON FYNE TRUSTEE 0.60 X 0 0 0 THOMAS GOLDEN TRUSTEE 0.60 X 0 0 0 JAMES HEYWARD TRUSTEE 0.60 X 0 0 0 JIM JACKSON TRUSTEE 0.60 X 0 0 0 CECIL JONES TRUSTEE 0.60 X 0 0 0 DOUG KITCHEN TRUSTEE 0.60 X 0 0 0 JAY LEWIS TRUSTEE 0.60 X 0 0 0 RUSSELL LONG BOARD CHAIR 0.60 X 0 0 0 KENNETH MILLS TRUSTEE 0.60 X 0 0 0 ANGELA NEVES BOARD SECRETARY 0.60 X 0 0 0 RICHARD PRITCHARD TRUSTEE 0.60 X 0 0 0 CYNTHIA QUINLAN TRUSTEE 0.60 X 0 0 0 JAMES REARICK TRUSTEE 0.60 X 0 0 0 LEROY RICHARDS BOARD TREASURER 0.60 X 0 0 0 NEWELL SMITH TRUSTEE 0.60 X 0 0 0 KENNETH STANFORD TRUSTEE 0.60 X 0 0 0 TONY STEELMAN TRUSTEE 0.60 X 0 0 0 JULIE BAUSMAN TRUSTEE 0.60 X 0 0 0 DAVID BOWSER TRUSTEE 0.60 X 0 0 0 ROB EDWARDS TRUSTEE 0.60 X 0 0 0 MARK BLANKENSHIP TRUSTEE 0.60 X 0 0 0 SCOTT COOK TRUSTEE 0.60 X 0 0 0 KEVIN DUNLOP BOARD VICE CHAIR 0.60 X 0 0 0 JOSHUA JACKSON TRUSTEE 0.60 X 0 0 0 MARK PRUGH TRUSTEE 0.60 X 0 0 0 BUD REEDY TRUSTEE 0.60 X 0 0 0 CHRISTI-LE SHANKEL TRUSTEE 0.60 X 0 0 0 LAURENE TIMMONS TRUSTEE 0.60 X 0 0 0 JIM WESLOW TRUSTEE 0.60 X 0 0 0 CORLIS MCGEE PRESIDENT 40.00 X 190001 0 22748 JAN WEISEN V/P OF FINANCE 40.00 X 102000 0 15277 TIMOTHY WOOSTER PROVOST 40.00 X 123161 0 28065 SCOTT TURCOTT V/P INSTITUTIONAL ADVANCEM 40.00 X 10367 0 2383 JOSSIE OWENS V/P ADULT STUDIES 40.00 X 10500 0 1286 JEFFREY KIRKSEY V/P STUDENT DEVELOPMENT 40.00 X 96000 0 25495 LARRY BOLLINGER V/P INSTITUTIONAL ADVANCEM 40.00 X 107000 0 26693 WILLIAM CROTHERS INTERIM-CEO 40.00 X 65005 0 8744 704034 0 130691 4 0 1 0 PIONEER COLLEGE CATERERS INC 12351 W 96TH TERRACE SUITE 204-W LENEXA KS 66215 FOOD SERVICE PROVIDER 1025549 FINANCIAL AID SERVICES INC 180 INTERSTATE NORTH PKWY SUITE 55 ATLANTA GA 30339 FINANCIAL AID CONSULTANT 413885 SSC INC 25 CONTROLS DRIVE SHELTON CT 604846111 SECURITY PROVIDER 371726 WESTFALL GROUP INC 1300 PEACHTREE INDUSTRIAL BLV SUWANEE GA 30024 CAMPAIGN CONSULTANT 229446 DR BRIAN W PARKER 780 GREENWICH ST 5N NEW YORK NY 10014 PROVOST CONSULTANT 177455 5 31382 179432 3480096 42933 3690910 TUITION AND FEES 900099 19521366 19521366 ROOM AND BOARD 900099 3707032 3707032 AUXILIARY ENTERPRISES 900099 1194097 1194097 24422495 236123 236123 584120 347605 236515 236515 236515 19715906 19503848 212058 212058 212058 0 31382 48209 -48209 -48209 71635 57289 14346 14346 MISCELLANEOUS REVENUE 900099 122048 122048 122048 28886286 24544543 0 650833 10249610 10249610 834725 121495 566787 146443 8724571 6374103 2045026 305442 11478 11478 2242777 1147229 1011820 83728 669787 454079 182792 32916 74863 29644 45219 66559 66559 62695 62695 2303502 1188535 1081915 33052 738876 439490 66283 233103 951632 450492 446975 54165 41523 2556 38967 866214 155391 710823 285237 174241 73673 37323 19951 17909 1547 495 952716 952716 1427468 1427468 269367 26294 243073 BAD DEBTS 2340631 0 2340631 0 MISCELLANEOUS EXPENSES 1422857 361413 1056239 5205 34557039 21192481 12432686 931872 562924 1111012 4687676 4586135 78186 68587 3725314 1556103 739255 706305 95011 92438 170996 288778 60618353 35342959 25831713 25275394 20628336 22341969 691203 225901 57210614 56252622 5045667 6647194 747972 754562 23563 108186 22142270 21299745 0 2159927 27959472 30969614 X 12678686 7512098 4458434 5229455 12114022 12541455 29251142 25283008 57210614 56252622 -5670753 1702619 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16965848 455612 2381908 562797 70357 1123464 18046750 16206256 299403 1280066 495729 41119 283029 16965848 14839010 1324800 690731 520663 41125 86497 16206256 13917584 798028 713716 529444 60874 14839010 13354008 400598 707589 500074 44537 13917584 0.04000 0.69000 0.27000 0 0 1047718 1047718 16595040 7443134 9151906 26645888 12706317 13939571 16329707 15193508 1136199 25275394 REAL ESTATE HELD FOR INVESTMENT PURPOSES 14907303 F PUBLIC SECURITIES 1601513 F PRIVATELY HELD SECURITIES 4000 F MUTUAL FUNDS 5744817 F LIMITED PARTNERSHIP 84336 F 22341969 X 20382105 1702619 105498 1808117 18573988 62688 10249610 10312298 28886286 24350239 105498 105498 24244741 62688 10249610 10312298 34557039 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 48,209. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 57,289. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 10,249,610. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 48,209. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 57,289. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 10,249,610. 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 31382 31382 37366 6250 4593 31382 31382 37366 6250 4593 48209 -48209 1 VARIOUS INSTITUTIONAL SCHOLARSHIPS 819 10249610 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 CORLIS MCGEE PRESIDENT 190001 0 0 0 0 0 0 0 22748 0 212749 0 0 0 TIMOTHY WOOSTER PROVOST 123161 0 0 0 0 0 0 0 28065 0 151226 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 A 1 X 6 42933 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 XII, LINE 2C THE FINANCE COMMITTEE 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