2016-11-11T10:14:52-07:00 2016-06-30 990 2015-07-01 570314415 SPARTANBURG METHODIST COLLEGE SPAR 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Eric McDonald VP for Business Affairs 8645874200 2016-11-11 2015 2017-02-10 21:41:12Z Scott Cochran 1000 Powell Mill Road Spartanburg SC 29301 19861153 0 X www.smcsc.edu X 1911 SC Spartanburg Methodist College is a liberal arts coeducational institution, related to the United Methodist Church, which offers a two-year undergraduate degree. The College has approximately 800 students. 23 23 352 59 0 0 1588343 2090341 15842868 16532978 441542 404442 5434 46436 17878187 19074197 4753967 5108449 0 0 6795533 6816161 0 0 469403 6217767 6762303 17767267 18686913 110920 387284 51163003 49711491 11874564 11087887 39288439 38623604 X The mission of Spartanburg Methodist College, a two-year, coeducational institution related to the United Methodist Church, is to develop the worth and abilities of each individual through programs relevant to academic and personal needs. The College strives for a values-oriented atmosphere in the Christian tradition in which students can develop a sensitivity to the needs of others and from which they can assume responsible positions in society. The academic program offers students the option of transferring to a four-year college or university for continued study or entering a career after graduation. The curriculum ranges from the basic liberal arts and transfer program to preparation for immediate entry into the job market through career track options. The College offers a wide variety of students the opportunity of higher education by providing a competent and dedicated faculty, financial assistance, work-study positions, and special support programs to meet their needs. 0 0 11595660 5108449 12238444 Higher Education: SMC is a private, church-related (United Methodist), two-year institution of higher education. The College provides instruction to approximately 800 liberal arts students. 3609499 0 4329795 The College provides housing and food service to students for a fee and is a member of the NJCAA for athletic purposes. Auxiliary enterprises consist of the revenues and expenses related to these areas. 0 0 0 15205159 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 59 0 352 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Eric McDonald 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Andrew Babb Board Member 1 0 X 0 0 0 Phillip Buchheit Board Member 1 0 X 0 0 0 Carol Burdette Board Member 1 0 X 0 0 0 Darrell Campbell Board Member 1 0 X 0 0 0 Phinnize Fisher Board Member 1 0 X 0 0 0 Jerry Gadsden Board Member 1 0 X 0 0 0 Catherine Gramling Board Member 1 0 X 0 0 0 Marianna Black Habisreutinger Board Member 1 0 X 0 0 0 Pat Henry Board Member 1 0 X 0 0 0 D Mitchell Houston Board Member 1 0 X 0 0 0 Derrick Huggins Board Member 1 0 X 0 0 0 Frank Lee Board Member 1 0 X 0 0 0 Evelyn Middleton Board Member 1 0 X 0 0 0 John Moore Board Member 1 0 X 0 0 0 Darryl Owings Board Member 1 0 X 0 0 0 John Ramsey Board Member 1 0 X 0 0 0 W Guy Spriggs Board Member 1 0 X 0 0 0 Mary Teasley Board Member 1 0 X 0 0 0 Marilyn Murphy Board Member 1 0 X 0 0 0 William Wilson Board Member 1 0 X 0 0 0 Ray Lattimore Recording Secretary 1 0 X X 0 0 0 Kathleen McKinney Vice Chair of the Board 1 0 X X 0 0 0 Jim Thompson Chairperson of the Board 1 0 X X 0 0 0 Anita Bowles Vice President of Academic Affairs 50 0 X 102424 0 10001 William S Cochran President of the College 60 0 X 26152 0 2402 Eric McDonald Vice President of Business Affairs 45 0 X 120137 0 16397 Jennifer Dillenger VP for Institutional Advancement 0 0 X 0 0 0 Samuel Shepard VP for Enrollment 0 0 X 0 0 0 Courtney Shelton VP for Professional Development and Design 0 0 X 0 0 0 Candice Sloan Chaplain 0 0 X 0 0 0 Timothy Wallace Athletic Director 0 0 X 0 0 0 Lisa Ware VP for Marketing 0 0 X 0 0 0 Colleen Perry Keith Former President of the College 45 0 X 97994 0 10151 346707 0 38951 2 1 0 0 Sodexo Inc & Affiliates PO Box 536922 Atlanta GA 30353 Food Service 1393363 GCA Services Group PO Box 534198 Atlanta GA 30353 Cleaning services 337609 Brewington Contractors LLC 100 Sunflower Lane Clinton SC 29325 Construction 262305 Roebuck Wholesale Nursery PO Box 1053 Roebuck SC 29376 Landscaping 150766 Hobsons Inc PO Box 505208 St Louis MO 63150 Marketing 144474 6 0 0 0 0 93805 1996536 13452 2090341 Tuition 900099 12203183 12203183 0 0 Auxillary 611710 4329795 4329795 0 0 0 0 0 0 16532978 411389 0 0 411389 0 0 0 0 0 0 0 0 11175 0 0 0 11175 0 11175 0 0 11175 780009 0 786956 0 -6947 0 -6947 0 0 -6947 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other Revenue 900099 35261 35261 0 0 0 0 0 0 35261 19074197 16568239 0 415617 0 0 5108449 5108449 0 0 0 0 810502 196072 587177 27253 0 0 0 0 4935496 3755639 951651 228206 183079 138144 38507 6428 498128 375867 104771 17490 388956 272521 97744 18691 0 0 0 0 32947 0 32947 0 72155 0 72155 0 0 0 0 0 0 0 42501 0 42501 0 670015 581453 86800 1762 71783 4442 67341 0 316157 217360 76317 22480 222547 219945 2602 0 0 0 0 0 1078640 1078640 0 0 483180 420275 52380 10525 0 0 0 0 20165 8073 4658 7434 110369 0 110369 0 0 0 0 0 1235101 988081 197616 49404 218424 75356 143068 0 LIBRARY BOOKS AND AUDIO VISUALS 27486 27486 0 0 FOOD SERVICE 1223570 1223570 0 0 PUBLIC RELATIONS AND RECRUITMENT 122381 5228 89082 28071 STUDENT LIFE AND STUDENT SERVICES 434862 403252 31610 0 380020 105306 223055 51659 18686913 15205159 3012351 469403 1000 1000 3866860 3342808 733125 686287 119143 208302 0 0 0 0 137715 74124 4736 6054 4013 4467 42008883 17685102 23725643 24323781 19803808 17593438 1785692 2556114 981268 915116 51163003 49711491 338641 348654 0 0 748961 625923 10251641 9696186 0 0 0 0 0 0 0 0 535321 417124 11874564 11087887 X 21804347 21464633 4626967 3812751 12857125 13346220 39288439 38623604 51163003 49711491 X 387284 -1034202 0 0 0 -17917 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21665468 726425 -664378 1148031 0 0 20579484 22007371 56185 664460 1062548 0 0 21665468 19376731 207580 3427255 1004195 0 0 22007371 16625549 1061903 2506181 816902 0 0 19376731 17592505 53512 -230388 790080 0 0 16625549 0.22 0.64 0.14 1 0 0 118047 118047 0 34608637 13756385 20852252 0 0 0 0 0 3962009 2991072 970937 0 3320190 937645 2382545 24323781 0 0 Time deposits and money market 2311455 F Municipal securities - annuity 181726 F Cash surrender value of life insurance 62933 F 2556114 0 Annuities Payable 396168 Advances from federal government 20956 417124 X 12871128 -1034202 0 0 0 -1034202 13905330 42501 5126366 5168867 19074197 13535963 0 0 0 0 0 13535963 42501 5108449 5150950 18686913 Schedule D, Part V, Line 4 The majority of the endowment funds are donor designated to provide scholarship assistance to students. A few endowments are donor designated to support SMC programs and building maintenance. Schedule D, Part X, Line 2 The College follows the provisions of FASB guidance on income taxes related to the accounting for uncertainty in income taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements by prescribing a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The College's policy is to record a liability for any tax position taken by management with respect to the transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of June 30, 2016 and 2015, and accordingly no liability has been accrued. Schedule D, Part XI, Line 4b Tuition discounts of 5,108,449 plus the change in the value of split interest agreements of $44,979 less the change in the value of pledges of $27,062. Schedule D, Part XII, Line 4b Tuition discounts of $5,108,449 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 This statement is published on an annual basis in "The Herald Journal," a local newspaper. Schedule E, Part I, Line 6 The College receives PELL, SEOG, Workstudy, Student Loans, Tuition Grant, LIFE and Lottery Scholarship funds from government agencies for tuition. 1 Scholarships and grants awarded to Spartanburg Methodist College Students 785 5108449 0 Schedule I, Part I, Line 2 Students submit the Federal FAFSA and this form is reviewed to award scholarships and other tuition discounts. Students also receive awards based on service (athletics) and well as academic or extracurricular achievements. The Director of Financial aid and the VP of enrollment maintain appropriate records to substantiate any financial assistance students receive. That information is subject to annual audit under OMB A-133 for any federal money the school receives. Awards are credited to students accounts. Accounts are reconciled throughout the year. X X X 0 0 0 0 0 0 0 0 0 Colleen Perry Keith Former President of the College 97994 0 0 0 0 0 5381 0 4770 0 108145 0 0 0 A Edu Facilities Authority 576000286 836896FZ8 2005-08-11 6000000 Construction and renovation of educational facilities 0 0 0 B Edu Facilities Authority 576000286 836896FZ8 2010-12-16 7000000 Construction and renovation of educational facilities 0 0 0 A 0 0 6000000 0 0 0 154368 0 0 5845632 0 0 2006 0 0 1 1 B 0 0 7000000 0 0 0 113154 0 0 6886846 0 0 2012 0 0 1 1 A 0 0 0 0 0 0 0 1 0 1 B 0 0 0 0 0 0 0 1 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2c-08/11/2005 6,000,000 Edu Facilities Authority No rebate due Schedule K, Part IV, Line 2c-12/16/2010 7,000,000 Edu Facilities Authority No rebate due X 21 786956 FMV X Yahama Baby Grand Piano 1 7500 FMV X FOOD, SUPPLIES AND OTHER 31 5952 FMV 0 0 1 0 Form 990, Part III, Line 1 see attached for the continuation of the mission description Form 990, Part VI, Section B, Line 11b The IRS form 990 is reviewed by an independent accounting firm after being prepared by the Controller. The Audit and Finance committee of the Board of Trustees is presented the 990 for review and final approval. A copy of the approved form 990 is provided to the entire board prior to filing. Form 990, Part VI, Section B, Line 12c The Conflict of Interest Statement is distributed annually at a Board meeting. The Administrative Assistant to the President documents that all board members return a signed copy of the statement. In the event of a conflict, a board member will recuse themselves on voting matters related to their conflicts. Form 990, Part VI, Section B, Line 15 (a) The College President's salary and benefits package is reviewed annually by the Executive Committee of the Board of Trustees. They consider the President's evaluations from all the Vice-Presidents, the manner and effectiveness with which the President has executed his duties, and the comparable compensation of the Presidents at similar institutions in the southeast. Discussions of the President's compensation are documented in the minutes. (b) The Vice Presidents are evaluated by the President annually. These evaluations are written and reviewed in private consultation with each Vice President. The salaries are based on market values for similar positions at comparative schools in the region and in keeping with the historical trends at the College. To obtain this data the school purchases the CUPA salary study for colleges of similar size for comparison. Form 990, Part VI, Section C, Line 19 The President of the College receives and responds to all requests for the governing documents, conflict of interest policy and financial statements. Form 990, Part XI, Line 9 Change in the value of split interest agreements of ($44,979) plus change in the valuation of pledges of $27,062 Delapp Charitable Remainder Unitrust 1000 Powell Mill Road Spartanburg SC 29301 576166745 Trust SC Spartanburg Methodist College T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0