2017-05-08T09:16:16-05:00 2016-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2015-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 CORLIS MCGEE PRESIDENT 6177453000 2017-05-03 1 DAVID A DIIULIS P00303577 6174711120 2017-05-01 2015 2021-01-29 14:40:06Z DR CORLIS MCGEE 23 EAST ELM AVENUE QUINCY MA 02170 36678584 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 43 730 100 0 0 4080012 2907587 27997260 24583326 258351 288338 865889 172883 33201512 27952134 9760397 9275853 0 0 14018894 13272133 0 0 837566 9677025 9633072 33456316 32181058 -254804 -4228924 58435910 57210614 25609041 27959472 32826869 29251142 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 21518021 9275853 24583326 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. 21518021 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 0 0 0 0 0 1 0 0 0 1 42 0 1 730 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 AUTHUR ALEXANDER TRUSTEE 0.60 X 0 0 0 MICHAEL ASPINALL TRUSTEE 0.60 X 0 0 0 MARK BLANKENSHIP TRUSTEE 0.60 X 0 0 0 JERRY BOHALL TRUSTEE 0.60 X 0 0 0 LARRY BOLLINGER 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 SCOTT 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 KEVIN DUNLOP 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 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 JOSHUA JOHNSON TRUSTEE 0.60 X 0 0 0 CECIL A 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 J LONG BOARD VICE CHAIR 0.60 X 0 0 0 J BRET METCALFE TRUSTEE 0.60 X 0 0 0 KENNETH L MILLS BOARD CHAIR 0.60 X 0 0 0 ANGELA NEVES BOARD SECRETARY 0.60 X 0 0 0 DICK PRITCHARD TRUSTEE 0.60 X 0 0 0 MARK PRUGH 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 BUD REEDY TRUSTEE 0.60 X 0 0 0 LEROY RICHARDS BOARD TREASUER 0.60 X 0 0 0 CHRISTI-LE SHANKEL TRUSTEE 0.60 X 0 0 0 SARAH SMAIL TRUSTEE 0.60 X 0 0 0 NEWELL D SMITH TRUSTEE 0.60 X 0 0 0 KENNETH STANDFORD TRUSTEE 0.60 X 0 0 0 TONY STEELMAN 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 195000 0 38133 JAN WEISEN V/P OF FINANCE 40.00 X 102020 0 23451 TIMOTHY WOOSTER PROVOST 40.00 X 117300 0 34776 SCOTT TURCOTT V/P INSTITUTIONAL ADVANCEM 40.00 X 64217 0 17578 JOSSIE OWENS V/P ADULT STUDIES 40.00 X 52998 0 9412 JEFFREY KIRKSEY V/P STUDENT DEVELOPMENT 40.00 X 96000 0 30969 627535 0 154319 3 0 1 0 PIONEER COLLEGE CATERERS INC 25055 WEST VALLEY PARKWAY SUITE 120 OLATHE KS 66061 FOOD CATERING 1005239 ELLUCIAN 1000 WINTER STREET 1200 WALTHAM MA 02451 SOFTWARE CONSULTING 377329 SSC INC 201 ANN UCCELLO SUITE 2 HARTFORD CT 06103 SECURITY SERVICES 354672 FINANCIAL AID SERVICES INC 180INTERSTATE NORTH PKWY SUITE 550 ATLANTA GA 30339 CONSULTING 332062 INDUSTRIAL BURNER SYSTEMS INC 97 RAWSON ROAD QUINCY MA 02170 BURNER SYSTEMS 193006 10 171408 144790 2591389 22332 2907587 TUITION AND FEES 900099 19699873 19699873 ROOM AND BOARD 900099 3669546 3669546 AUXILIARY ENTERPRISES 900099 1213907 1213907 24583326 223072 223072 585435 314196 271239 271239 271239 7849028 7783762 65266 65266 65266 0 171408 547371 -547371 -547371 57367 81121 -23754 -23754 MISCELLANEOUS REVENUE 900099 472769 472769 472769 27952134 25056095 0 -11548 9275853 9275853 781854 126969 573090 81795 9363169 6754765 2193447 414957 422276 285574 120285 16417 1954612 923560 978242 52810 750222 524926 189427 35869 38567 32375 6192 63071 63071 57410 57410 2196019 1244640 918037 33342 844424 724937 45935 73552 1126546 598585 456390 71571 87262 3216 84046 734970 101326 633644 310174 198710 66053 45411 59742 41204 18538 860004 860004 1496336 1496336 319127 28834 290293 MISCELLANEOUS EXPENSES 884941 624964 254327 5650 BAD DEBTS 439127 0 439127 0 REPAIRS AND MAINTENANCE 115352 59958 55394 0 32181058 21518021 9825471 837566 527160 562924 5300511 4687676 87736 78186 2314370 3725314 775729 739255 142716 95011 244853 170996 59775041 33943328 26184777 25831713 22140031 20628336 718027 691203 58435910 57210614 2228397 5045667 726741 747972 57452 23563 22596451 22142270 25609041 27959472 X 16923968 12678686 4086832 4458434 11816069 12114022 32826869 29251142 58435910 57210614 -4228924 653197 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 12924352 505763 455922 474774 57255 13354008 0.06000 0.71000 0.23000 0 0 1047718 1047718 16350660 7264991 9085669 26329496 11926991 14402505 16047167 14751346 1295821 25831713 REAL ESTATE HELD FOR INVESTMENT PURPOSES 14117260 F PUBLIC SECURITIES 1328845 F PRIVATELY HELD SECURITIES 4000 F MUTUAL FUNDS 5069542 F LIMITED PARTNERSHIP 108689 F 20628336 X 19900560 653197 628492 1281689 18618871 57410 9275853 9333263 27952134 23476287 628492 628492 22847795 57410 9275853 9333263 32181058 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 547,371. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 81,121. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 9,275,853. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 547,371. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 81,121. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 9,275,853. 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 45208 45208 41279 2474 2967 PRESIDENT GATHERING 126200 126200 161006 72353 267292 171408 171408 202285 74827 270259 547371 -547371 1 VARIOUS INSTITUTIONAL SCHOLARSHIPS 872 9275853 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 195000 0 0 0 0 0 0 0 38133 0 233133 0 0 0 TIMOTHY WOOSTER PROVOST 117300 0 0 0 0 0 0 0 34776 0 152076 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 FORM 990, PART VI, SECTION B, LINE 11 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