2016-11-21T08:37:24-06:00 2016-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2015-06-01 566049935 WINGATE UNIVERSITY WING 7042338000 PO BOX 159 WINGATE NC 28174 WILLIAM H DURHAM VP FOR BUSINESS, CFO 7042338000 2016-11-04 1 ADRIENNE MCKINNEY P00819656 3362724551 2015 2017-02-10 21:41:12Z DR T RHETT BROWN PO BOX 159 WINGATE NC 28174 129311050 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 51 51 1548 51 341947 -286545 6233743 3302796 82591763 92993212 5211420 1033234 2855930 831872 96892856 98161114 29508694 34317475 0 0 35019903 36494273 0 0 1470798 26305804 29171495 90834401 99983243 6058455 -1822129 154337547 176166598 31693837 58888932 122643710 117277666 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 75249350 34317475 93138861 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, BALLANTYNE, AND HENDERSONVILLE, NC. THE UNIVERSITY OFFERS 34 UNDERGRADUATE MAJORS, 36 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, 2016, FALL STUDENT ENROLLMENT WAS 3,149 AND SPRING STUDENT ENROLLMENT WAS 2,955. THE TOTAL NUMBER OF GRADUATES WAS 641. FINANCIAL AID WAS RECEIVED BY 3,082 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 2,248 STUDENTS. 75249350 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 306 0 1 1548 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 PO BOX 159 WINGATE NC 28174 AGNES B GOLDSTON TRUSTEE 0.50 X 0 0 0 ARNOLD A CULBRETH JR TRUSTEE 0.50 X 0 0 0 B PARTHENIA RICHARDSON TRUSTEE 0.50 X 0 0 0 BILL HUDSON TRUSTEE 0.50 X 0 0 0 C C DICKSON JR TRUSTEE 0.50 X 0 0 0 C THOMAS WILSON TRUSTEE 0.50 X 0 0 0 CALEB H BARNHARDT JR TRUSTEE 0.50 X 0 0 0 CHARLES A HOWARD II TRUSTEE 0.50 X 0 0 0 CLAUDIA S ROBINETTE TRUSTEE 0.50 X 0 0 0 CLIFFORD E HEMINGWAY TRUSTEE 0.50 X 0 0 0 DANNY K DAVIS TRUSTEE 0.50 X 0 0 0 DEIDRE S VICK TRUSTEE 0.50 X 0 0 0 DON HILL TRUSTEE 0.50 X 0 0 0 DONALD C TAFT TRUSTEE 0.50 X 0 0 0 DURAN G MCDONALD TRUSTEE 0.50 X 0 0 0 E LAZELLE MARKS TRUSTEE 0.50 X 0 0 0 EDWARD L WEST TRUSTEE 0.50 X 0 0 0 ELONA L EDWARDS TRUSTEE 0.50 X 0 0 0 EVELYN V TAYLOR TRUSTEE 0.50 X 0 0 0 EVELYN W BINGHAM TRUSTEE 0.50 X 0 0 0 G FRANK CAGLE TRUSTEE 0.50 X 0 0 0 GEORGE C BOWER JR TRUSTEE 0.50 X 0 0 0 GREGORY I HINRICHS TRUSTEE 0.50 X 0 0 0 H JOE KING JR TRUSTEE 0.50 X 0 0 0 HENRY B GAYE TRUSTEE 0.50 X 0 0 0 JACK C LAIL TRUSTEE 0.50 X 0 0 0 JAMES C FURMAN TRUSTEE 0.50 X 0 0 0 JAMES W MASON III TRUSTEE 0.50 X 0 0 0 JAMES C WILSON JR TRUSTEE 0.50 X 0 0 0 JAMES R BULLOCK JR TRUSTEE 0.50 X 0 0 0 JARVIS WARREN TRUSTEE 0.50 X 0 0 0 JIMMY K STEGALL TRUSTEE 0.50 X 0 0 0 JOHNNY L TILLETT TRUSTEE 0.50 X 0 0 0 JOSEPH H PATTERSON TRUSTEE 0.50 X 0 0 0 JOSEPH C HUNTER TRUSTEE 0.50 X 0 0 0 LARRY E WOODALL TRUSTEE 0.50 X 0 0 0 LUTHER T MOORE TRUSTEE 0.50 X 0 0 0 MEREDITH OSBORNE GALVIN TRUSTEE 0.50 X 0 0 0 PATRICK D PHILMON TRUSTEE 0.50 X 0 0 0 PORTER B BYRUM TRUSTEE 0.50 X 0 0 0 REBECCA B BULLARD TRUSTEE 0.50 X 0 0 0 RUSSELL W BOOKER TRUSTEE 0.50 X 0 0 0 SAMUEL K WELBORN JR TRUSTEE 0.50 X 0 0 0 THOMAS E PERRY JR TRUSTEE 0.50 X 0 0 0 THOMAS E WILLIAMS TRUSTEE 0.50 X 0 0 0 THOMAS J KEAN TRUSTEE 0.50 X 0 0 0 THOMAS J KOONTZ MD TRUSTEE 0.50 X 0 0 0 VIOLETA MOSER TRUSTEE 0.50 X 0 0 0 W P WATSON TRUSTEE 0.50 X 0 0 0 WILLIAM F HARRIS TRUSTEE 0.50 X 0 0 0 WILLIAM H HELMS TRUSTEE 0.50 X 0 0 0 WILLIAM H MAST TRUSTEE 0.50 X 0 0 0 WILLIAM H SWAN TRUSTEE 0.50 X 0 0 0 WILLIAM T CROWDER JR TRUSTEE 0.50 X 0 0 0 WINDELL L TALLEY TRUSTEE 0.50 X 0 0 0 T RHETT BROWN PRESIDENT 40.00 0.50 X 251607 0 38119 MARTHA S ASTI VICE PRESIDENT 40.00 X 154567 0 31028 WILLIAM H DURHAM VICE PRESIDENT/CFO 40.00 0.50 X 182577 0 32881 SCOTTY E HUNSUCKER VICE PRESIDENT 40.00 X 133844 0 21950 JERRY E MCGEE PRESIDENT EMERITUS 40.00 X 519056 0 13998 ROBERT S POSTON VICE PRESIDENT 40.00 X 136361 0 15961 ROBERT SUPERNAW VICE PRESIDENT 40.00 X 285404 0 41124 E VINCENT TILSON VICE PRESIDENT 40.00 X 148870 0 17559 HEATHER C MILLER VICE PRESIDENT 40.00 X 101076 0 26981 GREGORY L ALSTON PROFESSOR 40.00 X 133992 0 29931 KEVIN BRUEILLY PROGRAM DIRECTOR & PROFESSOR 40.00 X 137979 0 30312 CAROLYN FORD PROFESSOR 40.00 X 146258 0 17865 TRACY HUNTER PROFESSOR 40.00 X 128354 0 32396 SAMIR KOUZI PROFESSOR 40.00 X 135761 0 30303 2595706 0 380408 56 0 1 0 CM BLACK CONSTRUCTION COMPANY 797 DAVIDSON DRIVE NE CONCORD NC 28025 CONSTRUCTION 9406920 ARAMARK SERVICES INC PO BOX 198532 ATLANTA GA 30384 FOOD SERVICE 4121514 MARTIN CONTRACTING NC-LLC 2824 SMITH FIELD DRIVE MONROE NC 28110 CONSTRUCTION 2358090 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 STUDENT SEARCH 821231 MOSELEY ARCHITECTS PC 11430 NORTH COMMUNITY HOUSE ROAD CHARLOTTE NC 28277 ARCHITECT 705825 19 172099 3130697 560395 3302796 TUITION AND FEES 611310 74683565 74683565 HOUSING 611310 15278606 15278606 STUDENT FEES & MISC 611310 1692815 1692815 BOOKSTORE REVENUE 611310 1209493 1209493 FOOD SERVICE REVENUE 611310 128733 128733 92993212 1921843 1921843 377203 0 377203 377203 377203 30200610 30991572 97647 -790962 -97647 -888609 -888609 27790 172099 60717 -32927 -32927 CAMPS & CONFERENCES 713940 236231 236231 ATHLETIC INCOME 611310 129029 129029 NEWSPAPER 511110 105716 105716 16620 16620 487596 98161114 93138861 341947 1377510 34284068 34284068 33407 33407 1913362 677408 1087084 148870 27327583 23664111 3089795 573677 1596251 1324888 239438 31925 3614157 2999750 542124 72283 2042920 1695624 306438 40858 143175 143175 88000 88000 214174 214174 89561 89561 589501 589501 2534913 1292806 1242107 1824744 1675887 64216 84641 505300 505300 5694947 5694947 291241 116496 174745 FOOD SERVICE 3697812 3697812 GRADUATE AND PROFESSION 3176136 3176136 PLANT ADMINISTRATION 2163961 2163961 CAMPUS STORE 1213796 1213796 6944234 4308769 2116921 518544 99983243 75249350 23263095 1470798 -75227 -83208 4291595 21157849 5597165 3783886 1710722 3145686 1053759 573692 797749 528914 156136775 58535472 90226572 97601303 48706415 47298283 1119943 1057917 908854 1102276 154337547 176166598 7203537 5494176 5211801 24000000 4976686 309019 7988850 22635000 11524764 1238936 31693837 58888932 X 73990874 71378972 23043302 19670540 25609534 26228154 122643710 117277666 154337547 176166598 X -1822129 -2666996 -876919 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 51114140 618620 -1471890 1535882 138547 48586441 48892581 1839324 2118007 1572395 163377 51114140 43936492 1769145 4220720 932161 101615 48892581 38307472 1033670 5673976 986075 92551 43936492 28471495 11311161 -660306 733930 80948 38307472 0.14310 0.54250 0.31440 0 0 14413 4553292 4567705 115103434 39521022 75582412 1002378 486025 516353 25695155 17556972 8138183 9768103 971453 8796650 97601303 INTEREST RATE SWAP AGREEMENT 1238936 1238936 X 60552348 -2666996 187828 -35190315 -37669483 98221831 -60717 -60717 98161114 65914313 187828 60717 248545 65665768 34317475 34317475 99983243 PART IV, LINE 2B: CUSTODIAL ACCOUNT RESPONSIBILITY ON LINE 21 RELATES TO STUDENT AND STUDENT ORGANIZATION DEPOSITS. 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 24,892. RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS -34,317,475. LOSS ON INTEREST RATE SWAP AGREEMENTS -897,732. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES -60,717. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES 60,717. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS 34,317,475. 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. 0 SOUTH AMERICA 2 PROGRAM SERVICES STUDY ABROAD PROGRAM 59388 EUROPE (INCLUDING ICELAND & GREENLAND) 15 PROGRAM SERVICES STUDY ABROAD PROGRAM 359672 CENTRAL AMERICA AND THE CARIBBEAN 4 PROGRAM SERVICES STUDY ABROAD PROGRAM 68820 EAST ASIA AND THE PACIFIC 5 PROGRAM SERVICES STUDY ABROAD PROGRAM 90259 0 26 0 0 0 26 578139 0 578139 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 5 21078 INVOICE REDUCTION SCHOLARSHIP SOUTH AMERICA 3 6734 INVOICE REDUCTION SCHOLARSHIP EAST ASIA AND THE PACIFIC 2 3095 INVOICE REDUCTION SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 1 2500 INVOICE REDUCTION 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: COST OF PROGRAM 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. PRESIDENT GOLF TOURNAMENT 55809 48049 7760 15304 DAY OF GIVING 95570 95570 23547 1 48510 28480 20030 9589 12277 199889 172099 27790 9589 27581 23547 60717 -32927 1 ENDOWED SCHOLARSHIPS 713 1535882 RESTRICTED ANNUAL SCHOLARSHIPS 114 443185 ATHLETIC SCHOLARSHIPS 418 5062082 ACADEMIC SCHOLARSHIPS 2028 19089267 NEED BASED SCHOLARSHIPS 538 8153652 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 X 0 0 0 0 0 0 0 0 0 T RHETT BROWN PRESIDENT 197649 0 15000 0 38958 0 16474 0 21645 0 289726 0 0 0 MARTHA S ASTI VICE PRESIDENT 144269 0 10000 0 298 0 12000 0 19028 0 185595 0 0 0 WILLIAM H DURHAM VICE PRESIDENT/CFO 160436 0 15000 0 7141 0 13333 0 19548 0 215458 0 0 0 SCOTTY E HUNSUCKER VICE PRESIDENT 112842 0 15000 0 6002 0 9333 0 12617 0 155794 0 0 0 JERRY E MCGEE PRESIDENT EMERITUS 169539 0 325000 0 24517 0 10833 0 3165 0 533054 0 0 0 ROBERT S POSTON VICE PRESIDENT 119861 0 10000 0 6500 0 9733 0 6228 0 152322 0 0 0 ROBERT SUPERNAW VICE PRESIDENT 268603 0 12000 0 4801 0 21947 0 19177 0 326528 0 0 0 E VINCENT TILSON VICE PRESIDENT 127628 0 12000 0 9242 0 10427 0 7132 0 166429 0 0 0 GREGORY L ALSTON PROFESSOR 132804 0 0 0 1188 0 11083 0 18848 0 163923 0 0 0 KEVIN BRUEILLY PROGRAM DIRECTOR & PROFESSOR 137564 0 0 0 415 0 11464 0 18848 0 168291 0 0 0 CAROLYN FORD PROFESSOR 145484 0 0 0 774 0 11783 0 6082 0 164123 0 0 0 TRACY HUNTER PROFESSOR 127166 0 0 0 1188 0 10836 0 21560 0 160750 0 0 0 SAMIR KOUZI PROFESSOR 135347 0 0 0 414 0 11286 0 19017 0 166064 0 0 0 A WISCONSIN PUBLIC FINANCE AUTHORITY 273866124 2016-05-31 24000000 FINANCE CAPITAL IMPROVEMENTS AND REFINANCE DEBT 0 0 0 A 24000000 148199 16351801 7500000 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 CC DICKSON COMPANY OWNER C.C. DICKSON JR. IS A UNIVERSITY TRUSTEE 22297 PURCHASE OF MAINTENANCE SUPPLIES IN THE NORMAL COURSE OF BUSINESS 0 DAVIS FURNITURE OWNER DANNY DAVIS IS A UNIVERSITY TRUSTEE 63450 PURCHASE OF FURNITURE IN THE THE NORMAL COURSE OF BUSINESS 0 X 900 INVOICE COST X 13 193098 SELLING PRICE X 6 2600 DONOR STATED X 1 5042 INVOICE COST X FURN & EQUIP 322 340960 INVOICE COST X GRAPHICS-TROPHIES, MONOGRAMS 378 7766 INVOICE COST X CONF REGIST 3 5296 INVOICE COST X STETHOSCOPES 70 4169 INVOICE COST X EVENT DECORATIONS 1 365 INVOICE COST X GAME TICKETS 2 200 DONOR STATED 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS INDICATES THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11 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 EXECUTIVE ADVISORY COMMITTEE OF THE BOARD OF TRUSTEES ("EAC") CONTRACTED WITH AN EXECUTIVE COMPENSATION CONSULTANT TO CONDUCT A COMPREHENSIVE EXECUTIVE COMPENSATION STUDY. THE CONSULTANT COMPARED THE EXECUTIVE SALARIES OF A PEER GROUP OF TEN (10) UNIVERSITIES IN NORTH CAROLINA, SOUTH CAROLINA, AND TENNESSEE WITH THOSE AT WINGATE UNIVERSITY. THE CONSULTANT SUBMITTED THE DATA AND ASSESSMENT TO THE EAC. THE ASSESSMENT CONCLUDED THAT THE COMPENSATION FOR THE PRESIDENT AND PRESIDENT'S CABINET 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, EAC MADE COMPENSATION RECOMMENDATIONS TO THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE, WHICH APPROVED THE RECOMMENDATIONS. THE COMPENSATION RECOMMENDATIONS WERE THEN SUBMITTED TO THE ENTIRE BOARD OF TRUSTEES, WHERE THE RECOMMENDATIONS WERE APPROVED AND IMPLEMENTED. FORM 990, PART VI, SECTION C, LINE 19 SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 20,813. LOSS ON INTEREST RATE SWAP AGREEMENTS -897,732. 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 11A, I WINGATE UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0