2016-05-12T15:02:57-05:00 2015-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2014-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 JAN WEISEN VICE PRESIDENT OF FINANCE 6177453000 2016-05-11 1 DAVID A DIIULIS P00303577 6174711120 2016-05-11 2014 2016-08-17 19:52:53Z JAN WEISEN 23 EAST ELM AVENUE QUINCY MA 02170 43620014 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. 42 42 860 110 0 0 2974171 4080012 29533440 27997260 944057 258351 2340066 865889 35791734 33201512 10975847 9760397 0 0 13568836 14018894 0 0 863002 11576911 9677025 36121594 33456316 -329860 -254804 51779762 58435910 19627854 25609041 32151908 32826869 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 22665112 9760397 27997260 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. 22665112 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 1 0 0 0 0 1 0 0 0 1 32 0 1 860 1 0 0 0 0 0 0 0 0 X 42 42 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 ARTHUR ALEXANDER TRUSTEE 0.60 X 0 0 0 MICHAEL ASPINALL TRUSTEE 0.60 X 0 0 0 JONATHAN BATCHELDER TRUSTEE 0.60 X 0 0 0 DON BAUN TRUSTEE 0.60 X 0 0 0 DEL BIEBER 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 JOHN BOWEN 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 ROBERT CORNELL TRUSTEE 0.60 X 0 0 0 DAVID CRAMER 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 BECKY DUNMAN TRUSTEE 0.60 X 0 0 0 WILLIAM DYMENT 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 J 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 CECIL 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 LONG (VICE CHAIR) TRUSTEE 0.60 X 0 0 0 J BRET METCALFE TRUSTEE 0.60 X 0 0 0 KENNETH MILLS (CHAIR) TRUSTEE 0.60 X 0 0 0 ANGELA NEVES (SECRETARY) TRUSTEE 0.60 X 0 0 0 RICHARD PRITCHARD 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 LEROY RICHARDS (TREASURER) TRUSTEE 0.60 X 0 0 0 DAVID SHAW TRUSTEE 0.60 X 0 0 0 SARAH SMAIL TRUSTEE 0.60 X 0 0 0 NEWELL SMITH TRUSTEE 0.60 X 0 0 0 KENNETH STANFORD TRUSTEE 0.60 X 0 0 0 TONY STEELMAN TRUSTEE 0.60 X 0 0 0 LARRY WHITE TRUSTEE 0.60 X 0 0 0 CORLIS MCGEE PRESIDENT 40.00 X 199152 0 21001 JAN WEISEN V/P OF FINANCE 40.00 X 105523 0 14026 TIMOTHY WOOSTER PROVOST 40.00 X 127234 0 25912 SCOTT TURCOTT V/P INSTITUTIONAL ADVANCEMENT 40.00 X 104609 0 25147 JOSSIE OWENS V/P ADULT STUDIES 40.00 X 124816 0 9000 JEFFREY KIRKSEY V/P STUDENT DEVELOPMENT 40.00 X 99028 0 24782 760362 0 119868 5 0 1 0 PIONEER COLLEGE CATERERS INC 25055 WEST VALLEY PARKWAY SUITE 120 OLATHE KS 66061 FOOD CATERING 1060427 ELLUCIAN 1000 WINTER STREET 1200 WALTHAM MA 02451 SOFTWARE CONSULTING 510477 SSC INC 201 ANN UCCELLO SUITE 2 HARTFORD CT 06103 SECURITY SERVICES 368807 INDUSTRIAL BURNER SYSTEMS INC 97 RAWSON ROAD WOLLASTON MA 02170 BURNER SYSTEMS 312348 THE BOELTER COMPANIES N22W23685 RIDGEVIEW PARKWAY WEST WAUKESHA WI 53188 FOOD SERVICE SYSTEMS 233715 9 51870 202692 3825450 4080012 TUITION AND FEES 900099 22810136 22810136 ROOM AND BOARD 900099 3984429 3984429 AUXILIARY ENTERPRISES 900099 1202695 1202695 27997260 219652 219652 526628 313573 213055 213055 213055 10041892 10003193 38699 38699 38699 0 51870 57009 -57009 -57009 85353 44727 40626 40626 MISCELLANEOUS REVENUE 900099 669217 669217 669217 33201512 27997260 0 1124240 9760397 9760397 760362 99028 556725 104609 9621018 7237015 1986971 397032 508516 325805 155825 26886 2355429 1102381 1177820 75228 773569 548255 188809 36505 83005 47529 35476 67000 67000 59351 59351 2239627 1481579 743924 14124 421175 228776 51963 140436 1154862 623016 505043 26803 48504 6043 42461 786700 126609 660091 284289 183757 59302 41230 35848 24987 10861 958024 958024 1507762 1507762 340614 28834 311780 MISCELLANEOUS EXPENSES 1279957 791119 488838 0 BAD DEBTS 260707 0 260707 0 REPAIRS AND MAINTENANCE 149600 49982 99469 149 33456316 22665112 9928202 863002 704491 527160 1698846 5300511 122403 87736 1933003 2314370 793397 775729 155826 142716 190505 244853 58649375 32464598 24545381 26184777 21191277 22140031 444633 718027 51779762 58435910 2634421 2228397 712154 726741 64870 57452 16216409 22596451 19627854 25609041 X 17893080 16923968 3763098 4086832 10495730 11816069 32151908 32826869 51779762 58435910 -254804 929764 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 12257124 524965 185340 2730 10115 30232 12924352 0.07000 0.73000 0.20000 0 0 1047718 1047718 16008528 7086262 8922266 25827339 11150652 14676687 15765790 14227684 1538106 26184777 REAL ESTATE HELD FOR INVESTMENT PURPOSES 13053908 F PUBLIC SECURITIES 1619468 F PRIVATELY HELD SECURITIES 4000 F MUTUAL FUNDS 7316551 F LIMITED PARTNERSHIP 146104 F 22140031 X 24413265 929764 101736 1031500 23381765 59351 9760397 9819748 33201513 23738304 101736 101736 23636568 59351 9760397 9819748 33456316 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 57,009. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 44,727. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 9,760,397. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 57,009. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 44,727. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 9,760,397. 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 51870 51870 175 739 56095 51870 51870 175 739 56095 57009 -57009 1 VARIOUS INSTITUTIONAL SCHOLARSHIPS 901 9760397 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 199152 0 0 0 0 0 0 0 21001 0 220153 0 0 0 TIMOTHY WOOSTER PROVOST 127234 0 0 0 0 0 0 0 25912 0 153146 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 X 4 32162 FMV 0 0 0 PART I, LINE 30B: AS DESCRIBED IN THE SCHEDULE M INSTRUCTIONS, EACH SEPARATE GIFT IS TREATED AS A CONTRIBUTION RATHER THAN EACH SHARE RECEIVED. 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