2017-04-26T21:11:18-05:00 2016-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2015-07-01 570314390 Erskine College ERSK 8643798812 PO Box 338 Due West SC 29639 Gregory W Haselden Senior VP Finance/Operations 8642294951 2017-04-26 1 David C Moja P00747006 6785185301 2015 2021-01-29 14:40:06Z Erskine College and Theological Seminary Rob Gustafson PO Box 338 Due West SC 29639 33934426 0 X www.erskine.edu X 1837 SC Christian liberal arts college and graduate theological seminary. 25 25 509 35 0 0 2169163 2129239 25944046 27522198 1815228 548315 48261 44300 29976698 30244052 13384220 14363104 0 0 8302047 7662563 0 0 190630 9240498 9442048 30926765 31467715 -950067 -1223663 71839815 68123884 20974516 20083371 50865299 48040513 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 20529714 14363104 21382720 Erskine College is a comprehensive, fully accredited, Christian college and theological seminary offering undergraduate, master's, and doctoral degrees. The college program offers 27 baccalaureate majors, and the seminary offers 4 master's degrees and a doctor of ministry degree. The 2016 fiscal year for Erskine College saw a number of new records achieved and other important events including growing the undergraduate student body by 18 full-time equivalents for the year and continued restructuring the institution to prepare for the future. The athletic program continued to advance within the conference, and in 2016 Erskine had four teams capture conference titles. 5863951 6139478 The Institution conducted auxiliary enterprises for the convenience of students, faculty, staff, and the at-large community. 26393665 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1081 0 1 509 1 0 0 0 0 0 1 0 0 0 X 25 25 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 SC X Gregory W Haselden 8643798812 PO Box 338 Due West SC 29639 Mr Ron Vigus Trustee - Chairman 10.00 X X 0 0 0 Mr RG McDonald III 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 The Rev Dr SM Cox Trustee 10.00 X 0 0 0 Mr Rory Crawford Trustee 10.00 X 0 0 0 Dr DC Cunningham 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 Dr JT Hellams Jr Trustee 10.00 X 0 0 0 Mr SS James 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 The Rev AK Putnam Trustee 10.00 X 0 0 0 Dr GS Query Trustee 10.00 X 0 0 0 The Rev CW Reynolds Trustee 10.00 X 0 0 0 Mrs MT Rucker Trustee 10.00 X 0 0 0 Mrs AM Tribble Trustee 10.00 X 0 0 0 The Rev PA Waid Trustee 10.00 X 0 0 0 Dr HH Welch Trustee 10.00 X 0 0 0 Mr KL Connor Trustee (part year) 10.00 X 0 0 0 Dr GS Suits Trustee (part year) 10.00 X 0 0 0 The Rev JA Hunt Ex Officio Member 10.00 X 0 0 0 Mr WA Byrd Ex Officio Member 10.00 X 0 0 0 Dr PD Kooistra President 40.00 X 100842 0 56460 Mr GW Haselden Sr VP Fin/Operations, Trea 40.00 X 117761 0 9958 Mrs Dena S Hodge Assistant Secretary 40.00 X 36942 0 14922 Dr NB Christie Sr VP Academics 40.00 X 107560 0 17350 363105 0 98690 3 0 1 0 Aramark Facility Services 22506 Network Place Chicago IL 60673 Facilities management 2069993 Aramark Services PO Box 518 Due West SC 29639 Dining services 1907051 Ebsco Subscription Services PO Box 2543 Birmingham AL 35202 Electronic library services 203754 Daniels Graphics PO Box 40 Asheville NC 28802 Printing of marketing material 100294 4 463643 126722 1538874 202625 2129239 Student Tuition & Fees 611710 21246777 21246777 Auxiliary Enterprises 611710 6139478 6139478 Other Program Income 611710 135943 135943 27522198 845123 845123 48908 10048 38860 38860 38860 3375058 3671866 -296808 -296808 -296808 13900 8460 5440 5440 30244052 27522198 0 592615 14363104 14363104 351081 101834 214712 34535 6176953 4731005 1323135 122813 643617 506134 129270 8213 490912 368770 110425 11717 33271 33271 62677 62677 165300 165300 94959 94959 128519 128519 503178 166776 322845 13557 156328 156328 1361433 1093641 267792 113668 56413 45860 11395 41811 34500 7311 969877 800291 169586 329893 329893 Food services 2672642 2590346 82296 Miscellaneous expenses 2217478 1080664 1148414 -11600 Student activities and 500187 500187 Bad debt expense 90827 90827 31467715 26393665 4883420 190630 970652 770140 18457 14432 572764 762236 166084 167020 71518 68831 54554620 29180404 25980568 25374216 31105062 28247557 10692556 10553573 1222223 1132057 1039931 1033822 71839815 68123884 1050957 895059 620623 584522 11027894 10562879 1433485 1212970 6841557 6827941 20974516 20083371 X 1535681 -793287 6268782 5367631 43060836 43466169 50865299 48040513 71839815 68123884 X -1223663 -1217453 -383670 X X 0 1 X 1 1 1 X 2461423 2683384 1827257 2169163 2129239 11270466 2461423 2683384 1827257 2169163 2129239 11270466 668343 10602123 1340022 1067992 1012677 939834 894031 5254556 8906 12065 13900 34871 16559893 124910319 0.64020 X Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 8 8 1 0 927936 X X 0 37882833 313334 -1014114 1870179 35311874 39841555 146952 561541 2667215 37882833 38994185 193973 4544867 3891470 39841555 39628456 397212 3124768 4156251 38994185 47765835 309852 69536 8516767 39628456 0.12000 0.88000 0 0 1169432 755548 1924980 42619245 20635607 21983638 9971041 8544797 1426244 39354 39354 25374216 Cash Surrender Value of Life Insurance 171841 F US Government Securities 1999578 F Other Fixed Income Investments 1977662 F Alternative Investments 1380030 C Equity securities held at cost 3615305 C Pooled income funds 46212 F Master Limited Partnership 1150597 F Corporate bonds 212348 F 10553573 US Government Loan Funds - Refundable 961407 Annuities Payable 978713 Interest Rate Swap Liability 1803308 Trust Liabilities 2730891 Other Liabilities 303288 Capital Lease 50334 6827941 X 14340750 -1217453 42417 -14746774 -15921810 30262560 -18508 -18508 30244052 17165536 42417 18508 60925 17104611 14363104 14363104 31467715 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 X, Line 2: The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of June 30, 2016 and 2015, the College had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. The College files information tax returns in the U.S. The College is generally no longer subject to U.S. federal income tax examinations by tax authorities for years before 2013. Part XI, Line 2d - Other Adjustments: Unrealized gain on interest rate swap -191,316. Change in value of trusts and annuities -192,354. Scholarships and other aid -14,363,104. Loss on pledges previously recognized Part XI, Line 4b - Other Adjustments: Direct expenses for special fundraising events -10,048. Rental expenses -8,460. Part XII, Line 2d - Other Adjustments: Rental expenses 10,048. Direct expenses for special fundraising events 8,460. Part XII, Line 4b - Other Adjustments: Scholarships and other aid 14,363,104. 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 604 11746872 Athletic Scholarships 103 2616232 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 X 1 1 X X X 0 0 0 0 0 0 0 0 0 Dr PD Kooistra President 88842 0 0 0 12000 0 24000 0 32767 0 157609 0 0 0 Part I, Line 1a The spouse of the President occasionally accompanies him on business trips. If the College determines the expense to not meet the critera to be a bona fide business expense, the amounts are included in taxable compensation. The President also lives in a house that is owned by the College. X 8 202625 Fair Market Value 0 0 0 Part I, Column (b): The number of contributions represents the number of contributions received. Form 990, Box F Paul Kooistra, President, was replaced by Rob Gustafson, Interim President, after the end of this tax period, 06/30/2016. Accordingly Rob Gustafson is not reported on Form 990, Part VII, during this tax period. 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 A, line 4 The following changes were made to the Bylaws of Erskine College and Seminary: - Composition of the Board - The number of Members shall not exceed seventeen , three of these shall be ministers of the Associate Reformed Presbyterian Church. - President - The President shall have seat and voice at every Board meeting and Standing Committee meetings including Executive Sessions unless excused by vote of the Board or Committee. Form 990, Part VI, Section B, line 11 The Board of Trustees of the institution has empowered the Finance Committee to review in detail and approve the Form 990 prior to filing by the institution. Additionally, copies of the completed Form 990 are made available to all Board Members before filing. 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 Line 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. Line 15b) The Senior Vice President of Finance/Operations, Treasurer's compensation is set by the President, who is independent. The President looks at national and regional comparable salary data for pay increases. Form 990, Part VI, Section C, line 19 Documents are made available upon request. Form 990, Part XI, line 9: Unrealized Loss on Interest Rate Swap -191,316. Change in Value of Split-Interest Agreements -192,354. 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