2017-11-15T20:32:07-06:00 2017-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2016-06-01 566049935 WINGATE UNIVERSITY WING 7042338000 PO BOX 159 WINGATE NC 28174 WILLIAM H DURHAM VP FOR FINANCE 7042338000 2017-11-15 1 YONG ZHANG P01249785 3362724551 108.171.131.171 2017-11-15 21:31:56 ES P 5F21F1B220EB2C4D3C747890DFA22ED77C160406 68E3BE8F27530CB92DCBE14CB09CA2C152DDBB4C 2016 2017-02-10 21:41:12Z DR T RHETT BROWN PO BOX 159 WINGATE NC 28174 169477001 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 51 51 1586 55 126703 -145164 3302796 42636635 92993212 97804008 1033234 916232 831872 703448 98161114 142060323 34317475 39043683 0 0 36494273 40639289 0 0 1651027 29171495 29479116 99983243 109162088 -1822129 32898235 176166598 213153614 58888932 56269999 117277666 156883615 THE MISSION OF WINGATE UNIVERSITY IS TO DEVELOP EDUCATED, ETHICAL, AND PRODUCTIVE CITIZENS AT HOME AND ABROAD. FOLLOWING ITS JUDEO-CHRISTIAN HERITAGE, THE UNIVERSITY SEEKS TO CULTIVATE THE FOLLOWING IN ITS STUDENTS: KNOWLEDGE, FAITH, AND SERVICE. 0 0 83482241 39043683 98080714 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, BALLANTYNE, AND HENDERSONVILLE, NC. THE UNIVERSITY OFFERS 35 UNDERGRADUATE MAJORS, 35 MINORS AND CAREER CONCENTRATIONS, NUMEROUS PRE-PROFESSIONAL PROGRAMS, GRADUATE DEGRESS IN BUSINESS, ACCOUNTING, EDUCATION, PHYSICIAN ASSISTANT STUDIES AND SPORT MANAGEMENT, AND DOCTORATES IN PHARMACY, PHYSICAL THERAPY, AND EDUCATION. DURING FISCAL YEAR ENDED MAY 31, 2017, FALL STUDENT ENROLLMENT WAS 3,149 AND SPRING STUDENT ENROLLMENT WAS 2,952. THE TOTAL NUMBER OF GRADUATES WAS 696. FINANCIAL AID WAS RECEIVED BY 3,207 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 2,415 STUDENTS. 83482241 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 1 1 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 1 0 0 0 1 283 0 1 1586 1 1 1 0 0 0 0 1 1 0 0 0 0 X 51 51 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X WILLIAM H DURHAM 7042338218 220 N CAMDEN WINGATE NC 28174 MR CALEB H BARNHARDT JR TRUSTEE 0.50 X 0 0 0 MS BETTY M BAXTER TRUSTEE 0.50 X 0 0 0 MRS EVELYN W BINGHAM TRUSTEE 0.50 X 0 0 0 DR RUSSELL W BOOKER TRUSTEE 0.50 X 0 0 0 MR GEORGE C BOWER JR TRUSTEE 0.50 X 0 0 0 MS REBECCA B BULLARD TRUSTEE 0.50 X 0 0 0 MR JAMES R BULLOCK JR TRUSTEE 0.50 X 0 0 0 MR PORTER B BYRUM TRUSTEE 0.50 X 0 0 0 MR G FRANK CAGLE TRUSTEE 0.50 X 0 0 0 MR WILLIAM T CROWDER JR TRUSTEE 0.50 X 0 0 0 MR ARNOLD A CULBRETH JR TRUSTEE 0.50 X 0 0 0 MR DANNY K DAVIS TRUSTEE 0.50 X 0 0 0 MR C C DICKSON JR TRUSTEE 0.50 X 0 0 0 MR C THOMAS DIXON TRUSTEE 0.50 X 0 0 0 MRS ELONA L EDWARDS ASSISTANT SECRETARY 0.50 X X 0 0 0 MR JAMES C FURMAN TRUSTEE 0.50 X 0 0 0 MS MEREDITH OSBORNE GALVIN TRUSTEE 0.50 X 0 0 0 MR HENRY B GAYE TRUSTEE 0.50 X 0 0 0 MRS ANGES B GOLDSTON TRUSTEE 0.50 X 0 0 0 MR WILLIAM F HARRIS TRUSTEE 0.50 X 0 0 0 MR CLIFFORD E HEMINGWAY TRUSTEE 0.50 X 0 0 0 MR DON HILL TRUSTEE 0.50 X 0 0 0 MR GREGORY I HINRICHS TRUSTEE 0.50 X 0 0 0 MR CHARLES A HOWARD II CHAIRMAN 0.50 X X 0 0 0 MR JOSEPH C HUNTER TRUSTEE 0.50 X 0 0 0 MR THOMAS J KEAN TRUSTEE 0.50 X 0 0 0 MR H JOE KING JR TRUSTEE 0.50 X 0 0 0 THOMAS J KOONTZ MD TRUSTEE 0.50 X 0 0 0 MR JACK C LAIL TRUSTEE 0.50 X 0 0 0 MR E LAZELLE MARKS TRUSTEE 0.50 X 0 0 0 MR JAMES W MASON III TRUSTEE 0.50 X 0 0 0 MR WILLIAM H MAST TRUSTEE 0.50 X 0 0 0 MR DURAN G MCDONALD TRUSTEE 0.50 X 0 0 0 MR LUTHER T MOORE TRUSTEE 0.50 X 0 0 0 MS VIOLETA MOSER TRUSTEE 0.50 X 0 0 0 DR JOSEPH H PATTERSON VICE CHAIRMAN 0.50 X X 0 0 0 MR THOMAS E PERRY JR TRUSTEE 0.50 X 0 0 0 MR PATRICK D PHILMON TRUSTEE 0.50 X 0 0 0 MS CLAUDIA S ROBINETTE TRUSTEE 0.50 X 0 0 0 MRS FONDA SALGUEIRO TRUSTEE 0.50 X 0 0 0 MR ANDREW T SMART TRUSTEE 0.50 X 0 0 0 MR JIMMY K STEGALL TRUSTEE 0.50 X 0 0 0 MR WILLIAM H SWAN TRUSTEE 0.50 X 0 0 0 MR DONALD C TAFT SECRETARY 0.50 X X 0 0 0 MR WINDELL L TALLEY TRUSTEE 0.50 X 0 0 0 MS EVELYN V TAYLOR TRUSTEE 0.50 X 0 0 0 MR JOHNNY L TILLETT TRUSTEE 0.50 X 0 0 0 MRS DEIDRE S VICK TRUSTEE 0.50 X 0 0 0 MR W P WATSON TRUSTEE 0.50 X 0 0 0 MR SAMUEL K WELBORN JR TRUSTEE 0.50 X 0 0 0 MR EDWARD L WEST TRUSTEE 0.50 X 0 0 0 MR THOMAS E WILLIAMS TRUSTEE 0.50 X 0 0 0 MR C THOMAS WILSON TRUSTEE 0.50 X 0 0 0 MR JAMES C WILSON JR TRUSTEE 0.50 X 0 0 0 MR LARRY E WOODALL TRUSTEE 0.50 X 0 0 0 T RHETT BROWN PRESIDENT 40.00 0.50 X 338517 0 39660 WILLIAM H DURHAM VP FOR FINANCE 40.00 0.50 X 185885 0 33748 SCOTTY E HUNSUCKER VICE PRESIDENT 40.00 X 136524 0 22571 HEATHER C MILLER VICE PRESIDENT 40.00 X 138649 0 29277 R STEPHEN POSTON VICE PRESIDENT 40.00 X 143743 0 16464 ROBERT B SUPERNAW VICE PRESIDENT 40.00 X 296559 0 42021 HELEN TATE PROVOST 40.00 X 82214 0 5920 E VINT TILSON VICE PRESIDENT 40.00 X 158295 0 18998 MARTHA S ASTI SCHOLAR IN RESIDENCE 40.00 X 161806 0 31764 KEVIN E BRUEILLY DIRECTOR OF DPT 40.00 X 144505 0 31307 DAVID A COMPTON PROFESSOR 40.00 X 141380 0 16410 CAROLYN FORD PROFESSOR 40.00 X 145956 0 18014 SAMIR A KOUZI PROFESSOR 40.00 X 139287 0 30912 2213320 0 337066 62 0 1 0 CM BLACK CONSTRUCTION COMPANY 797 DAVIDSON DRIVE NE CONCORD NC 28025 CONSTRUCTION 8384458 ARAMARK SERVICES INC 1101 MARKET ST PHILADELPHIA PA 19107 FOOD SERVICE 4564301 ROYALL & COMPANY PO BOX 603519 CHARLOTTE NC 28260 STUDENT SEARCH 1090156 DAN STOKES ASSOCIATES 2701 REYNOLDS DRIVE WINSTON SALEM NC 27104 TRIP PLANNER 239170 MCGUIRE WOODS LLP 800 EAST CANAL ST RICHMOND VA 23219 ATTORNEY 203812 16 110576 42526059 1843303 42636635 TUITION AND FEES 611310 79766122 79766122 HOUSING 611310 15557649 15557649 STUDENT FEES & MISC 611310 1331851 1331851 BOOKSTORE REVENUE 611310 983285 983285 FOOD SERVICE REVENUE 611310 165101 165101 97804008 1066977 1066977 343154 0 343154 343154 343154 27200230 7821 27355301 3495 -155071 4326 -150745 -150745 14767 110576 57882 -43115 -43115 CAMPS & CONFERENCES 713940 170856 90946 79910 ATHLETIC INCOME 611310 166380 166380 NEWSPAPER 511110 46793 46793 19380 19380 403409 142060323 98080714 126703 1216271 39043683 39043683 1520262 754471 619999 145792 30175134 25537287 3887034 750813 1828894 1517982 274334 36578 4911554 4076590 736733 98231 2203445 1828859 330517 44069 204834 204834 91375 91375 214645 214645 71401 71401 481967 481967 2499898 1274948 1224950 1966664 1820480 63603 82581 923066 923066 5858196 5858196 332377 132951 199426 FOOD SERVICE 4003750 4003750 GRADUATE AND PROFESSION 2243778 2243778 PLANT ADMINISTRATION 1228438 1228438 CAMPUS STORE 1195652 1195652 8163075 5251212 2418900 492963 109162088 83482241 24028820 1651027 8704 8216 21065937 10763611 3783886 39476055 3145686 2367354 573692 492125 528914 690762 167200034 63069095 97601303 104130939 47298283 52882120 1057917 1440254 1102276 902178 176166598 213153614 5494176 4372760 5211801 5325216 24000000 24000000 309019 433347 22635000 22138676 1238936 0 58888932 56269999 X 71378972 70049384 19670540 22859848 26228154 63974383 117277666 156883615 176166598 213153614 X 32898235 5190560 1517153 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48586441 37755656 5654752 1429635 143792 90423422 51114140 618620 -1471890 1535882 138547 48586441 48892581 1839324 2118007 1572395 163377 51114140 43936492 1769145 4220720 932161 101615 48892581 38307472 1033670 5673976 986075 92551 43936492 0.14310 0.54250 0.31440 0 0 3150526 3542333 6692859 121606851 38980771 82626080 10763481 4541758 6221723 26755094 18537550 8217544 1381749 1009016 372733 104130939 X 109864950 5190560 52258 -37496076 -32253258 142118208 -57884 -57884 142060324 70228547 52258 57884 110142 70118405 39043683 39043683 109162088 PART V, LINE 4: ENDOWMENT FUNDS ARE USED AS DIRECTED BY DONOR STIPULATION AND APPLICABLE LAWS. THESE RESOURCES FUND SCHOLARSHIPS AND GRANTS, PLANT FACILITIES, AND OTHER PROGRAMS AND INITIATIVES THAT FURTHER THE VISION AND MISSION OF THE UNIVERSITY. PART X, LINE 2: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRED ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB). PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 151,385. RECLASSIFICATION OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS -39,043,683. GAIN/LOSS ON INTEREST RATE SWAP AGREEMENTS 1,365,768. CHANGE IN VALUE OF RELATED ORG'S ASSETS REPORTED ON CONSOLIDATED FINANCIALS 30,454. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES -57,884. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES 57,884. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS 39,043,683. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 6 TO FURTHER EDUCATIONAL MISSIONS, WINGATE UNIVERSITY RECEIVES FINANCIAL AID AND ASSISTANCE FROM VARIOUS FEDERAL AND STATE PROGRAMS IN SUPPORT OF ITS STUDENTS. 1 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 22187 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 309683 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 89224 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 105514 0 0 0 0 0 0 526608 0 526608 0 0 0 0 0 0 PART I, LINE 2: ELIGIBILITY FOR STUDY ABROAD SCHOLARSHIPS AND GRANTS IS DETERMINED EACH SEMESTER BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND ACADEMIC STANDING. THE FINANCIAL PLANNING DEPARTMENT AND TRAVEL COMMITTEE VERIFY SATISFACTORY ACADEMIC PROGRESS AND DETERMINE NEED BEFORE SCHOLARSHIPS AND GRANTS ARE DISTRIBUTED. PART I, LINE 3: ORGANIZATION USES GAAP TO RECORD EXPENDITURES SCH F, LINE 3 WINGATE UNIVERSITY'S ACTIVITY ABROAD IS COMPRISED OF FACULTY TEACHING STUDENT GROUPS ABROAD. THE UNIVERSITY DOES NOT MAINTAIN PERMANENT FACULTY, FACILITIES, OR STAFF IN THESE FOREIGN AREAS. DAY FOR WIGATE 72876 72876 6366 27442 GOLF TOURNAMENT 52467 37700 14767 7203 13783 3088 125343 110576 14767 13569 13783 30530 57882 -43115 1 ENDOWED SCHOLARSHIPS 717 1429635 0 RESTRICTED ANNUAL SCHOLARSHIPS 182 374485 0 ATHLETIC SCHOLARSHIPS 443 5420756 0 ACADEMIC SCHOLARSHIPS 2317 29464401 0 NEED BASED SCHOLARSHIPS 617 2312515 0 PART I, LINE 2: ELIGIBILITY FOR NEED-BASED SCHOLARSHIPS AND GRANTS IS DETERMINED ANNUALLY BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). ACADEMIC SCHOLARSHIPS ARE AWARDED UPON ENROLLMENT AND ELIGIBILITY IS FOR THE EIGHT SEMESTERS. AT THE END OF EACH SEMESTER, THE FINANCIAL PLANNING DEPARTMENT VERIFIES SATISFACTORY ACADEMIC PROGRESS HAS BEEN MAINTAINED IN ORDER TO DETERMINE CONTINUATION OF ALL SCHOLARSHIPS. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 T RHETT BROWN PRESIDENT 248504 0 30000 0 60013 0 20350 0 19310 0 378177 0 0 0 WILLIAM H DURHAM VP FOR FINANCE 166504 0 12000 0 7381 0 13838 0 19910 0 219633 0 0 0 SCOTTY E HUNSUCKER VICE PRESIDENT 118415 0 12000 0 6109 0 9787 0 12784 0 159095 0 0 0 HEATHER C MILLER VICE PRESIDENT 118712 0 14000 0 5937 0 9967 0 19310 0 167926 0 0 0 R STEPHEN POSTON VICE PRESIDENT 126067 0 12000 0 5676 0 10233 0 6231 0 160207 0 0 0 ROBERT B SUPERNAW VICE PRESIDENT 278011 0 12000 0 6548 0 22711 0 19310 0 338580 0 0 0 E VINT TILSON VICE PRESIDENT 137483 0 12000 0 8812 0 11267 0 7731 0 177293 0 0 0 MARTHA S ASTI SCHOLAR IN RESIDENCE 149806 0 12000 0 0 0 12454 0 19310 0 193570 0 0 0 KEVIN E BRUEILLY DIRECTOR OF DPT 144091 0 0 0 414 0 11997 0 19310 0 175812 0 0 0 DAVID A COMPTON PROFESSOR 140192 0 0 0 1188 0 10179 0 6231 0 157790 0 0 0 CAROLYN FORD PROFESSOR 145440 0 0 0 516 0 11783 0 6231 0 163970 0 0 0 SAMIR A KOUZI PROFESSOR 139149 0 0 0 138 0 11602 0 19310 0 170199 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY RECEIVES A HOUSING ALLOWANCE WHICH IS INCLUDED IN HIS/HER TAXABLE INCOME. THE PRESIDENT'S SPOUSE CAN TRAVEL WITH THE PRESIDENT AND IS CONSIDERED A REPRESENTATIVE OF THE UNIVERSITY. ALSO, THE UNIVERSITY PROVIDES CLUB MEMBERSHIPS TO CERTAIN KEY INDIVIDUALS FOR RELATIONSHIP BUILDING PURPOSES. DUE TO THE NATURE OF THESE MEMBERSHIPS, THE COSTS ARE INCLUDED IN THE EMPLOYEE'S COMPENSATION. A WISCONSIN PUBLIC FINANCE AUTHORITY 273866124 2016-05-31 24000000 FINANCE CAPITAL IMPROVEMENTS AND REFINANCE DEBT 0 0 0 A 24000000 148199 23851801 2016 0 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 1 SUNTRUST BANK 12.000000000000 0 0 0 0 1 A 1 X 4 8500 INVOICE COST X 3600 DONOR STATED X 13 275775 SELLING PRICE X 1 1421000 FMV X 8 4200 DONOR STATED X 9 11815 INVOICE COST X SOFTWARE & EQUIP 7 112528 INVOICE COST X GOLF CART 1 4394 INVOICE COST X GAME TICKETS 3 1060 DONOR STATED X TROPHIES 1 430 INVOICE COST 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IN COLUMN B REFLECTS THE NUMBER OF ITEMS GIVEN FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO SUBMISSION. THE 990 IS THEN PROVIDED TO THE BOARD MEMBERS AND DISCUSSED IN A MEETING OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL TRUSTEES AND KEY EMPLOYEES. EACH PERSON INFORMS WINGATE OF ANY POSSIBLE CONFLICT ON THE FORM THEY SIGN. THE CONFLICT OF INTEREST POLICY APPLIES ON MAJOR CONTRACTUAL ARRANGEMENTS WHERE OFFICERS, TRUSTEES, OR KEY EMPLOYEES HAVE AN INTEREST; TOTAL DISCLOSURE TO DECISION MAKER IS MADE. THE AFFECTED INDIVIDUAL RECUSES HIM/HERSELF FROM PARTICIPATING IN DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY WAS ADVISED BY A COMPENSATION AND BENEFITS OUTSIDE ADVISOR TO REVIEW AND DISCUSS THE RESULTS OF PRESIDENTIAL COMPENSATION OF A PEER GROUP OF UNIVERSITIES IN NORTH AND SOUTH CAROLINA WITH THOSE AT WINGATE UNIVERSITY. THE UNIVERSITY AND CONSULTANT DISCUSSED THE RESULTS AND CONCLUDED THAT THE COMPENSATION FOR THE PRESIDENT WAS CONSISTENT WITH THE PEER GROUP, AS WELL AS APPROPRIATE IN THE CONTEXT OF MARKET CONDITIONS FOR HIGHER EDUCATION IN THE CAROLINAS. ON THE BASIS OF THESE FINDINGS, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES APPROVED PRESIDENT'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 151,385. GAIN/LOSS ON INTEREST RATE SWAP AGREEMENTS 1,365,768. FORM 990, PART XI, LINE 2C, AUDIT COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. WINGATE UNIVERSITY FOUNDATION PO BOX 159 WINGATE NC 28174 561559907 ORGANIZED SOLELY FOR THE BENEFIT OF WINGATE UNIVERSITY NC 501(C)(3) LINE 12A, I WINGATE UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0