2018-04-24T07:24:32-05:00 2017-06-30 454084437 Warren Averett LLC Six Concourse Parkway Suite 600 Atlanta GA 30328 990 2016-07-01 580593414 Young Harris College YOUN 7063793111 PO Box 68 Young Harris GA 305820068 Wade M Benson CPA Controller 7063793111 2018-04-23 1 Adam Repasy P01689756 7703961100 2018-04-23 209.136.244.2 2018-04-23 12:54:19 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C70E3F426783170CBDE098DBA453DC3451340313 2016 2021-01-29 14:40:06Z DR DREW VAN HORN PO Box 68 Young Harris GA 305820068 60252198 0 X www.yhc.edu X 1886 GA Young Harris College educates, inspires, and empowers students through a comprehensive liberal arts experience that integrates mind, body, and spirit. 51 42 785 51 5804 0 3319240 3386360 42139022 41096145 4870034 3681487 -15547 -1131 50312749 48162861 20172055 20435064 0 0 15616164 15177894 9000 14400 1843174 18107229 17008896 53904448 52636254 -3591699 -4473393 168102612 170734126 29221422 27468902 138881190 143265224 X Young Harris College educates, inspires, and empowers students through a comprehensive liberal arts experience that integrates mind, body, and spirit. 0 0 9366467 31901018 Instructional: Funds expended to educate students through a comprehensive liberal arts bachelor's degree program delivered through innovative academic instruction. Enrollment in 2016-2017 included approximately 1,262 students. Academic offerings include Art, Biology, Business and Public Policy, Chemistry, Communications Studies, Creative Writing, Education (Early Childhood), Education (Middle Grades), English, Environmental Science, History, Interdisciplinary Studies, Mathematics, Music, Music Education, Outdoor Leadership, Psychology, Religious Studies, Spanish and Theatre. 2995549 Academic Support: Funds expended to provide faculty administration and support, faculty development opportunities, curriculum enrichment and library, technology, and research and planning services. These expenditures are integral to the operation and support of quality academic programs and the retention and empowerment of excellent faculty. Curriculum and program development expenses are recorded in this category. 20435064 20435064 Student Financial Assistance: The College is committed to recruiting excellent students and helping secure the necessary and appropriate resources to meet the cost of an excellent education. The comprehensive student financial assistance program includes scholarships, grants, loans, and part-time campus employment. 97.88% of the students enrolled during 2016-2017 received some form of financial assistance. The College committed additional resources to meeting the needs of the students in response to increased occurrences of financial need during this year. 6135583 309785 Student Services: Funds expended for innovative programs and services which challenge students culturally, athletically and spiritually. The College strives to recruit and retain excellent students and empower them to reach their full potential. These expenditures provide support for extracurricular activities and student related services at the College which are essential to the students' well being and contribute to the quality of life outside the formal academic programs. Also, expenditures for student involvement in projects that impact the local community are included. 7866493 8885342 Auxiliary Services: Funds expended for meal services and the operation, repair and maintenance of the College's residence halls, dining hall, and recreation facility. 14002076 9195127 46799156 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 1 1 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 1 129 0 1 785 1 1 1 0 0 0 0 1 1 0 0 0 0 X 51 42 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 1 0 GA X Wade M Benson CPA 7063793111 1 College Street Young Harris GA 305820068 L Cathy Cox President/Ex Officio Trustee 40.00 X X 300644 0 38000 M Brantley Barrow Board Chair / Executive Committee Chair 1.00 X X 0 0 0 James T Johnston Jr Secretary / Athletics Committee Chair 1.00 X X 0 0 0 Wyck A Knox Jr Vice Board Chair/Finance Committee Chair 1.00 X X 0 0 0 Julie D Salisbury Marketing Committee Chair 1.00 X 0 0 0 Jonathan F Anderson Properties Committee Chair 1.00 X 0 0 0 Rene' M Diaz Academic Affairs Committee Chair 1.00 X 0 0 0 Margaret R Buker Student Affairs Committe Chair 1.00 X 0 0 0 Dr Don A Harp Jr Trusteeship, Goveranace, and Compensation Committe 1.00 X 14400 0 0 Pam R Rollins Development Committee Chair 1.00 X 0 0 0 Kurt T Momand Endowment Committee Chair 1.00 X 0 0 0 Matthew P Anderson Trustee 0.50 X 0 0 0 Paul D Beckham Trustee 0.50 X 0 0 0 Mary S Broadrick Trustee 0.50 X 0 0 0 Richard J Burrell Trustee 0.50 X 0 0 0 The Hon Earl L Carter Trustee 0.50 X 0 0 0 Carol A Chastain Trustee 0.50 X 0 0 0 Julia Webb Davis Trustee 0.50 X 0 0 0 Mickey T Dunn Trustee 0.50 X 0 0 0 William F Easterlin III Trustee 0.50 X 0 0 0 Dr James F Ellison Trustee 0.50 X 0 0 0 Clair W Frazier Trustee 0.50 X 0 0 0 Alvin Gibson Trustee 0.50 X 0 0 0 Rev David T Haygood Sr Trustee 0.50 X 0 0 0 Robert L Head Trustee 0.50 X 0 0 0 Darryl A Hicks Trustee 0.50 X 0 0 0 W Ron Hinson Trustee 0.50 X 0 0 0 Henry M Huckaby Trustee 0.50 X 0 0 0 Gerald W Hudgins Trustee 0.50 X 0 0 0 William A Johnston Trustee 0.50 X 0 0 0 Ray P Lambert Jr Trustee 0.50 X 0 0 0 David J lance Trustee 0.50 X 0 0 0 Martha J Logan Trustee 0.50 X 0 0 0 Eustace P McCannon Trustee 0.50 X 0 0 0 Richard W McGinnis Trustee 0.50 X 0 0 0 Ted McMullan Trustee 0.50 X 0 0 0 The Hon Murphy C Miller Trustee 0.50 X 0 0 0 Jerry W Nix Trustee 0.50 X 0 0 0 Loulie Tarbutton Reese Trustee 0.50 X 0 0 0 Jimmy C Tallent Trustee 0.50 X 0 0 0 Michele T White Trustee 0.50 X 0 0 0 Marlan B Wilbanks Trustee 0.50 X 0 0 0 James E Williams Trustee 0.50 X 0 0 0 Kirk S Wimberly III Trustee 0.50 X 0 0 0 The Hon Charles S Wynne Trustee 0.50 X 0 0 0 The Hon Zell B Miller Life-Time Trustee 0.50 X 0 0 0 Dr Robert V Ozment Life-Time Trustee 0.50 X 0 0 0 Rev Richard Chewning Ex-Officio Trustee 0.50 X 0 0 0 Charlotte S Mccloskey Ex-Officio Trustee 0.50 X 0 0 0 Bishop Sue Haupert-Johnson Ex-Officio Trustee 0.50 X 0 0 0 Rev Michael McCord Ex-Officio Trustee 0.50 X 0 0 0 Parker Sewell Ex-Officio Trustee 0.50 X 0 0 0 C Brooks Seay VP of Finance and Administration/Treasurer 40.00 X 174407 0 20682 Dr Gary L Myers VP of Academic Affairs 40.00 X 164688 0 20533 Wade M Benson Controller 40.00 X 110264 0 46321 764403 0 125536 4 0 1 0 Sodexo Inc PO Box 536922 Atlanta GA 30353 Food and Physical Plant Services 4248787 Brailsford & Dunlavey 1140 Connecticut Avenue NW Suite 4 Washington DC 20036 Facility Planners 306753 Padgett Group 140 Mountain Brook Drive Suite 100 Canton GA 30115 HVAC Contractor 253408 Custom Home Painting 712 Bear Run Road Hiawassee GA 30546 Painting Contractor 196345 Lord Aeck Sargent 1175 Peachtree Street NE Suite 24 Atlanta GA 30361 ARchitects 178251 8 65725 474270 2846365 114478 3386360 Tuition & fees 611710 31901018 31901018 Auxiliary services 611710 8885342 8885342 Student support 611710 309785 309785 41096145 3129025 3129025 12615918 1080 12064536 0 551382 1080 552462 1080 551382 18946 65725 24801 -5855 -5855 Income (loss) from partnerships 523000 6800 6800 Income (loss) from rec center mem 713940 -2076 -2076 4724 48162861 41096145 5804 3674552 17814424 17814424 2620640 2620640 675198 103138 557660 14400 11649165 10206024 723085 720056 672117 575419 54463 42235 1372799 1172455 85160 115184 823015 702277 68106 52632 16947 16947 99085 99085 155978 155978 986723 197056 687147 102520 542594 186341 38050 318203 4462643 4311351 73503 77789 1926910 1912715 6306 7889 943145 798951 55795 88399 895951 895951 3058895 2928418 95368 35109 350889 193315 157574 Student meals 2320099 2276155 14699 29245 Other expense 452642 303907 140808 7927 Programs and promotions 404107 273067 131040 Dues and Subscriptions 199848 118236 59166 22446 192440 105267 9073 78100 52636254 46799156 3993924 1843174 5496380 2888353 1060069 937216 104041 95537 713381 547309 1283227 195581 109252487 42589778 65012818 66662709 25353215 26698674 67387985 70856692 1691496 1852055 168102612 170734126 2461728 2132866 25730000 24367117 1029694 968919 29221422 27468902 X 52601021 54969610 13024925 10176877 73255244 78118737 138881190 143265224 168102612 170734126 X -4473393 3996015 4861412 X 0 1 X 1 1 1 X 16400616 5535626 3882608 3319240 3386360 32524450 16400616 5535626 3882608 3319240 3386360 32524450 10205316 22319134 3267202 3267838 3031657 3352972 3129025 16048694 48573144 193793329 0.45950 0.48820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 35854145 427662 5076465 2139222 39219050 39467057 291787 -690527 3214172 35854145 43148239 189334 884308 4754824 39467057 41511602 510097 6578587 5452047 43148239 42573961 176515 5191710 6430584 41511602 0.36680 0.56540 0.06790 1 0 3385239 3385239 74096304 19441422 54654882 8322682 6104846 2217836 19238082 17043510 2194572 4210180 4210180 66662709 Flexible capital 9317247 F Beneficial interest in perpetual trust 55396062 F Beneficial interest in remainder trust 2356912 F Investments held in trust for others 3289917 F Real estate 496554 F 70856692 Due to beneficiaries 339290 Deposits 629629 968919 36649411 3996015 54000 4871599 8921614 27727797 20435064 20435064 48162861 32265377 54000 10187 64187 32201190 20435064 20435064 52636254 Part V, Line 4: The endowment funds are used for scholarships, academic chairs, library, public programs, maintenance, long-term facility repairs and replacement, and other. Part XI, Line 2d - Other Adjustments: Change in value of split interest agreements 4,871,599. Part XI, Line 4b - Other Adjustments: Scholarships and financial assistance 20,435,064. Part XII, Line 2d - Other Adjustments: Distribution to beneficiaries 10,187. Part XII, Line 4b - Other Adjustments: Scholarships and financial assistance 20,435,064. 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 publishes and upholds the following policy: "Young Harris College does not discriminate on the basis of race, color, religion, sex, age, national origin or ancestry, physical or mental disability, veteran status, genetic information and any other basis protected by federal, state, or local laws in the administration of its scholarship and loan program, admission, athletic, or other school administered College programs." All members of the College community are expected and obligated to uphold this policy. Schedule E, Part I, Line 6 The College receives aid from governmental agencies to support its student financial aid programs. In the current year, the College received and distributed governmental aid totaling $474,270. 1 North America 0 0 Program Services Study Abroad Programs 4339 Europe (Including Iceland & Greenland) 0 0 Program Services Study Abroad Programs 29825 0 0 0 0 0 0 34164 0 34164 Financial Assistance Europe - 40 1202524 Credit to bursar accounts Financial Assistance Sub-Saharan Africa - Angola, 6 153397 Credit to bursar accounts Financial Assistance East Asia and the Pacific - 4 139993 Credit to bursar accounts Financial Assistance Central America and the Caribbean - 7 148618 Credit to bursar accounts Financial Assistance South America 17 591601 Credit to bursar accounts Financial Assistance North America - Canada 11 371899 Credit to bursar accounts Financial Assistance Middle East and North Africa 1 12608 Credit to bursar accounts 0 0 0 0 0 0 Part I, Line 2: Financial aid is credited directly to students' accounts through the business office. Foreign program services are reported upon actual expenditures in the region. Part I, line 3: Accounting for foreign investments is based upon the fair market value at year end. X X X X X X X 1 Don A Harp Jr 2720 Winding Lane Atlanta GA 30319 Fundraising consulting 0 0 14400 -14400 14400 -14400 Clay Dotson Open 84671 65725 18946 1391 6649 16761 84671 65725 18946 1391 6649 16761 24801 -5855 1 Scholarships and financial assistance 1066 17814424 Part I, Line 2: Young Harris College develops financial aid awards based upon a combination of factors, including the student's demonstrated financial need as determined by the FAFSA or other family financial indicator as accepted by the College, high school GPA, and SAT or ACT scores. Aid is to be awarded in the manner which best serves the greatest number of students and which is in keeping with the intent of the various campus programs. All institutional financial aid awards are made in accordance with the student's ability to maintain satisfactory academic progress. The Financial Aid Department monitors the students' satisfactory academic progress annually for institutional aid to determine continued eligibility. Standards are set on qualitative and quantitative progress. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 L Cathy Cox President/Ex Officio Trustee 300644 0 0 0 0 0 18000 0 20000 0 338644 0 0 0 C Brooks Seay VP of Finance and Administration/Tre 174407 0 0 0 0 0 10464 0 10218 0 195089 0 0 0 Dr Gary L Myers VP of Academic Affairs 164688 0 0 0 0 0 10320 0 10213 0 185221 0 0 0 Wade M Benson Controller 110264 0 0 0 0 0 10677 0 35644 0 156585 0 0 0 Part I, Line 1a The President of the College is provided with a residence on its campus as a condition of employment to perform responsibilities integrally related to her responsibilities. Accordingly, the value of this housing is not included in taxable compensation. United Community Bank Inc Bank officers and board include two Trustees. The College has several cash accounts with this local area bank which also has extended a revolving loan to the college on August 2, 2016. The bank's Chief Executive Officer ("CEO"), Jimmy C. Tallent, and the bank's Chief Compliance Officer, Carol A. Chastain, are members of the college's Board of Trustees. Neither of the Board members were involved in the decision to select this bank as service provider to the College. 0 Atlantic Capital Bank Bank's board includes one Trustee. A member of the College's Board of Trustees, Rene M. Diaz, sits on the Board of Directors at an Atlanta area bank in which the college has a cash account. This Board of Trustee member was not involved in the decision to select this bank as a service provider to the College. 0 X 1 15000 Estimated fair value X 1 21725 Estimated fair value X 6 66690 Listed exchange value X Equipment/furniture 3 7070 Estimated fair value X Supplies 17 3993 Estimated fair value 2 0 1 0 Form 990, Part VI, Section A, line 2 The Honorable Zell B. Miller and the Honorable Murphy Miller are father and son, respectively, and both serve on the College's Board of Trustees. Form 990, Part VI, Section A, line 2 The College's President and two members of the College's Board of Trustees have a business relationship with a local area bank, United Community Bank, Inc. The bank's Chief Executive Officer, Jimmy C. Tallent, and the bank's Chief Compliance Officer, Carol Chastain, are Trustees of the College. The College's President, L. Cathy Cox, is a director of the bank. Form 990, Part VI, Section B, line 11b The Form 990 is sent electronically or by direct mail to all voting Trustees for review prior to filing. Form 990, Part VI, Section B, line 12c The organization reviews and monitors any possible conflicts that are listed on the annual required disclosures filed by the officers, directors and employees. Form 990, Part VI, Section B, line 15 The Trusteeship, Governance, Compensation Committee of the Board of Trustees reviews and approves the President's compensation. The Vice Presidents' compensation is reviewed and approved by the President. The Human Resource Office maintains comparability data and all employee information. Form 990, Part VI, Section C, line 18 The College's Form 990 is available upon request. Form 990, Part VI, Section C, line 19 The College's governing documents are available upon request. Form 990, Part VI, Section B, Line 16b: The College's equity interest in any joint venture is so small and in the nature of an investment interest, rather than as an active participant in the activities of any venture. As such, it is not necessary to have initiation and veto powers. These investments are permitted under the provisions of the College's investment policy and evaluated on a case-by-case basis with consideration of the protection of the College's tax-exempt status. Form 990, Part XI, line 9: Change in value of split interest agreements 4,871,599. Distribution to beneficiaries 10,187. CONSOLIDATION ADJUSTMENTS FOR YHC REAL ESTATE LLC -20,374. Enotah Properties Foundation Inc 1 College St Young Harris GA 305820068 810811529 College Facilities (Rollins Campus Center) GA 501(c)(3) Line 12a, I Young Harris College 1 Young Harris College Real Estate LLC 1 College St Young Harris GA 305820068 474423681 College Facilities (Rollins Campus Center) GA Young Harris College Related -539475 41341318 0 1 0.99940 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 Young Harris College Real Estate LLC K 1767442 FMV Parts II, III, V, Related Organizations - Rollins Campus Center During FYE 6/30/2016, the College sold, and leased back, the Rollins Campus Center to a newly formed partnership, Young Harris College Real Estate, LLC ("YHC Real Estate"). The members of YHC Real Estate are the College (99.947368%) and Enotah Properties Foundation, Inc. ("Enotah", 0.052632%). Enotah is a Section 509(a)(3)(A) Type I supporting organization of the College. All of these entities are included in the consolidated, independent audited financial statements of the College. This structure was created solely to satisfy financing requirements for the Rollins Campus Center and does not affect the use or economics of the Rollins Campus Center for the College. Further, there are no "specified payments" by any controlled entity that reduce the unrelated income or increase the unrelated loss of these organizations. The Rollins Campus Center houses the student center, library, dining hall and banquet hall and related amenities for the College.