2015-11-13T15:27:53-06:00 2015-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2014-07-01 620476661 TENNESSEE WESLEYAN COLLEGE TENN 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 LARRY WALLACE VICE PRESIDENT OF FINANCE 4237465208 2015-10-15 1 JERRY SMITH CPA P00104258 4237567771 2015-10-15 2014 2016-03-07 17:11:31Z GAIL HARRIS 204 EAST COLLEGE STREET ATHENS TN 37303 28537990 0 X WWW.TWCNET.EDU X 1857 TN FOUR-YEAR LIBERAL ARTS COLLEGE 36 36 332 6 0 0 4387932 5022891 23375953 22668746 176289 349720 426467 496633 28366641 28537990 9331676 9582452 0 0 8397330 8625042 0 0 405634 7836972 8118474 25565978 26325968 2800663 2212022 31853060 33746238 15735120 15511899 16117940 18234339 FOUR-YEAR LIBERAL ARTS COLLEGE 0 0 15516240 9582452 0 INSTRUCTIONAL - ENROLLED AND EDUCATED OVER 900 STUDENTS. 599318 0 0 ACADEMIC SUPPORT - INCLUDES THE FUNDS SPENT IN SUPPORT OF THE COLLEGE'S LIBRARY AND OTHER SIMILAR ACTIVITIES. 5236904 0 0 STUDENT SERVICES - INCLUDES THE FUNDS ASSOCIATED WITH THE SUPPORT OF THE COLLEGE'S STUDENTS ACADEMICS AND RELATED STUDENT ACTIVITIES. 0 0 23165379 23165379 21352462 1 1 0 0 0 0 0 0 0 1 1 0 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 0 0 0 0 0 0 0 0 0 1 43 0 1 332 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 36 36 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 1 0 TN X GAIL HARRIS 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 ALLEN CARTER BOARD OF DIRECTOR, CHAIR 2.00 X 0 0 0 HUGH QUEENER BOARD OF DIRECTOR, VICE CH 2.00 X 0 0 0 MATT BROOKSHIRE BOARD OF DIRECTOR, SECRETA 2.00 X 0 0 0 BRYAN JACKSON BOARD OF DIRECTOR, FINANCE 2.00 X 0 0 0 REV TOM REED BOARD OF DIRECTOR, STUDENT 2.00 X 0 0 0 JIM WINER BOARD OF DIRECTOR, FACILIT 2.00 X 0 0 0 TENNA HORNSBY BOARD OF DIRECTOR, STUDENT RECRUITMENT 2.00 X 0 0 0 KEITH ALTSHULER BOARD OF DIRECTOR, FORT SANDERS REP 2.00 X 0 0 0 CLAIRE TUCKER BOARD OF DIRECTOR, MEMBER AT LARGE 1.00 X 0 0 0 CARL COLLOMS BOARD OF DIRECTOR, MEMBER AT LARGE 1.00 X 0 0 0 MINTIE WILSON BOARD OF DIRECTOR, MEMBER AT LARGE 1.00 X 0 0 0 SHARON BROWN BOARD OF DIRECTOR 1.00 X 0 0 0 JERRI BRYANT BOARD OF DIRECTOR 1.00 X 0 0 0 AILENE CHAMBERS BOARD OF DIRECTOR 1.00 X 0 0 0 ANGIE GREEN-GRIFFIN BOARD OF DIRECTOR 1.00 X 0 0 0 LAURIE HALLENBERG BOARD OF DIRECTOR 1.00 X 0 0 0 VANT HARDAWAY BOARD OF DIRECTOR 1.00 X 0 0 0 DANNY HAYS BOARD OF DIRECTOR 1.00 X 0 0 0 WILLIAM KILBRIDE BOARD OF DIRECTOR 1.00 X 0 0 0 RICK LAY BOARD OF DIRECTOR 1.00 X 0 0 0 LARRY MAULDIN BOARD OF DIRECTOR 1.00 X 0 0 0 REGENIA MAYFIELD BOARD OF DIRECTOR 1.00 X 0 0 0 DANIEL MOORE BOARD OF DIRECTOR 1.00 X 0 0 0 CHARLES PECCOLO BOARD OF DIRECTOR 1.00 X 0 0 0 PATRICIA PURUSHOTHAM BOARD OF DIRECTOR 1.00 X 0 0 0 JERRY SMITH BOARD OF DIRECTOR 1.00 X 0 0 0 KEN SMITH BOARD OF DIRECTOR 1.00 X 0 0 0 HUGH WALKER III BOARD OF DIRECTOR 1.00 X 0 0 0 DONALD WEBB BOARD OF DIRECTOR 1.00 X 0 0 0 MARK WHITE BOARD OF DIRECTOR 1.00 X 0 0 0 SHIRLEY WOODCOCK BOARD OF DIRECTOR 1.00 X 0 0 0 TONY BRYANT BOARD OF DIRECTOR 1.00 X 0 0 0 EMILY GREEN BOARD OF DIRECTOR 1.00 X 0 0 0 JO LUNDY BOARD OF DIRECTOR 1.00 X 0 0 0 MARY TAYLOR BOARD OF DIRECTOR 1.00 X 0 0 0 ELI KILGORE BOARD OF DIRECTOR 1.00 X 0 0 0 HARLEY KNOWLES PRESIDENT 40.00 X 245837 0 0 SUZANNE HINE VP OF ACADEMIC AFFAIRS 40.00 X 107201 0 0 RANDY NELSON VP FOR ADVANCEMENT 40.00 X 89895 0 0 SCOTT MASHBURN VP OF STUDENT LIFE 40.00 X 83027 0 0 525960 0 0 3 0 1 0 ARAMARK CORP 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 1285177 NATIONAL MANGAMENT RESOURCES CORP PO BOX 1224 LA GRANGE GA 30241 MAINTENANCE 683200 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTIONS CENTER CHICAGO IL 60677 TEXTBOOK SERVICES 317894 STARKEY PRINTING COMPANY 2710 E 30TH STREET CHATTANOOGA TN 37407 PRINTING 135471 ROYAL CHARTER & TOUR PO BOX 2324 CLEVELAND TN 37320 TRAVELING SERVICES 122716 14 129329 4893562 5022891 TUITION 624310 20175808 20175808 FOOD SERVICE 722210 1550551 1550551 RESIDENCE HALL 721310 888456 888456 BOOKSTORE 451211 50081 50081 CAMPS AND CONFERENCES 900099 3850 3850 22668746 349720 349720 FORT SANDERS NURSING SUPPLEMENT 611600 409650 409650 86983 86983 496633 28537990 23165379 0 349720 X 9582452 9582452 7053177 5315279 1451012 286886 251606 181820 61367 8419 701675 469317 209494 22864 618584 478709 122273 17602 1677 1677 58596 58596 164285 164285 395343 274823 108970 11550 622159 622159 917779 783430 134349 CONTRACTED SERVICES 1991326 1695670 292631 3025 UTILITIES 648769 595494 53275 OTHER MISC EXPENSES 391731 69753 321978 UNIFORMS AND OTHER SUPP 269699 156294 98560 14845 2657110 1749421 867246 40443 26325968 21352462 4567872 405634 1302 1302 1386219 1021695 1327558 3616338 1252572 1486736 110683 94111 20489 24572 171664 167480 29323525 12684778 16362205 16638747 11055813 10627010 92603 71952 68247 31853060 33746238 685198 854277 923980 877513 12183580 11955766 1942362 1824343 15735120 15511899 X 3215303 3691023 1954325 3503311 10948312 11040005 16117940 18234339 31853060 33746238 X 2212022 -216467 120844 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 10925347 126826 -12166 11040007 9414118 1399823 111406 10925347 9371970 140343 84427 -182622 9414118 9157986 223398 -9414 9371970 9210819 83595 -136428 9157986 0 0 1702191 1702191 17956488 6667534 11288954 2447284 1208086 1239198 5779459 3692989 2086470 1438103 1116169 321934 16638747 FEDERAL SHARE OF PERKINS LOAN PROGRAM -956 AGENCY FUNDS 183665 SPLIT-INTEREST AGREEMENTS 121891 BOND INTEREST RATE SWAP 1519743 1824343 X 18739081 -216467 -216467 18955548 9582442 9582442 28537990 16743514 0 16743514 9582454 9582454 26325968 PART X, LINE 2: UNCERTAIN TAX POSITIONS THE COLLEGE IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE COLLEGE MAY BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. THIS INCOME IS REPORTED ON THE FEDERAL FORM 990T AS UNRELATED BUSINESS INCOME. THE COLLEGE FOLLOWS THE GUIDANCE OF ASC TOPIC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITYS FINANCIAL STATEMENTS. THIS INTERPRETATION PRESCRIBES 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. IN ADDITION, ASC TOPIC 740 PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE COLLEGE ADOPTED THE PROVISIONS OF ASC TOPIC 740 AND THEY HAD NO IMPACT ON THE FINANCIAL POSITION, RESULTS OF OPERATIONS, AND CASH FLOWS. THE COLLEGES EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2010 THROUGH JUNE 30, 2015 FOR FEDERAL INCOME TAX, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2015. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE MISCELLANEOUS PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE MISCELLANEOUS SCHEDULE D PART XI LINE 4B CHANGE IN VALUE OF SWAP AGREEMENT, PERKINS LOANS, AND SPLIT-INTEREST AGREEMENTS $120,844 FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE $9,582,452 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 MAINTAINS AN INSTITUTION THAT IS RACIALLY NONDISCRIMINATORY. SCHEDULE E, PART I, LINE 6 THE COLLEGE IS APPROVED TO PROVIDE STUDENT ASSISTANCE WITH THE FEDERAL TITLE 4 STUDENT FINANCIAL AID PROGRAMS. 1 FINANCIAL-AID SCHOLARSHIP 925 9582452 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 HARLEY KNOWLES PRESIDENT 0 0 245837 0 0 0 0 0 0 0 245837 0 0 0 A THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF MCMINN TENNESSEE 321150835 58235KAB6 2006-10-01 9500000 0 0 0 A 198570 8822450 0 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 FEDERAL FORM 990 IS PRESENTED TO THE VICE PRESIDENT FOR FINANCIAL AFFAIRS WHO REVIEWS TO MAKE SURE NUMBERS ARE CORRECTLY REPORTED. VP FOR FINANCIAL AFFAIRS THEN PRESENTS 990 TO THE FINANCE COMMITTEE FOR REVIEW. THEY WILL THEN VOTE FOR APPROVAL. ONCE APPROVED THE 990 IS PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR REVIEW. FINAL APPROVAL IS MADE BY THE BOARD BEFORE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S SALARY IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARY SURVEYS ARE ALSO UTILIZED IN ORDER TO PROVIDE COMPARATIVE DATA FOR REVIEW PRIOR TO APPROVAL. OFFICERS SALARIES ARE SUGGESTED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO HIRE DATE. ONCE HIRED SALARIES ARE ADJUSTED BASED UPON PERFORMANCE AND RECOMMENDATIONS OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE ONLY AVAILABLE UPON REQUEST BY THE PUBLIC. FORM 990, PART IX, LINE 24E FACILITY FEES: PROGRAM SERVICE EXPENSES 258,506. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 258,506. TUITION WAIVER: PROGRAM SERVICE EXPENSES 198,574. MANAGEMENT AND GENERAL EXPENSES 47,375. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 245,949. DUES AND MEMBERSHIPS: PROGRAM SERVICE EXPENSES 139,882. MANAGEMENT AND GENERAL EXPENSES 100,812. FUNDRAISING EXPENSES 3,757. TOTAL EXPENSES 244,451. INSTITUTIONAL INSURANCE: PROGRAM SERVICE EXPENSES 192,851. MANAGEMENT AND GENERAL EXPENSES 32,160. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 225,011. ATHLETIC TOURNAMENT EXPENSES: PROGRAM SERVICE EXPENSES 141,605. MANAGEMENT AND GENERAL EXPENSES 47,202. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 188,807. CAMPUS SAFETY: PROGRAM SERVICE EXPENSES 132,814. MANAGEMENT AND GENERAL EXPENSES 37,006. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 169,820. MAINTENANCE AND REPAIRS: PROGRAM SERVICE EXPENSES 138,378. MANAGEMENT AND GENERAL EXPENSES 17,283. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 155,661. COPYING AND PRINTING EXPENSE: PROGRAM SERVICE EXPENSES 11,133. MANAGEMENT AND GENERAL EXPENSES 103,638. FUNDRAISING EXPENSES 2,913. TOTAL EXPENSES 117,684. EQUIPMENT: PROGRAM SERVICE EXPENSES 56,341. MANAGEMENT AND GENERAL EXPENSES 54,872. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 111,213. TELEPHONE EXPENSE: PROGRAM SERVICE EXPENSES 5,330. MANAGEMENT AND GENERAL EXPENSES 104,853. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 110,183. RESTRICTED EXPENDITURES: PROGRAM SERVICE EXPENSES 92,014. MANAGEMENT AND GENERAL EXPENSES 14,912. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 106,926. OTHER ATHLETIC EXPENSES: PROGRAM SERVICE EXPENSES 73,584. MANAGEMENT AND GENERAL EXPENSES 24,528. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 98,112. STUDENT INSURANCE: PROGRAM SERVICE EXPENSES 65,610. MANAGEMENT AND GENERAL EXPENSES 21,870. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 87,480. POSTAGE: PROGRAM SERVICE EXPENSES 2,413. MANAGEMENT AND GENERAL EXPENSES 78,960. FUNDRAISING EXPENSES 1,782. TOTAL EXPENSES 83,155. STUDENT ACTIVITY EXPENSE: PROGRAM SERVICE EXPENSES 63,137. MANAGEMENT AND GENERAL EXPENSES 19,245. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 82,382. LIBRARY EXPENSES: PROGRAM SERVICE EXPENSES 60,318. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 60,318. BANK/CREDIT CARD FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 46,166. FUNDRAISING EXPENSES 923. TOTAL EXPENSES 47,089. RESIDENT LIFE EXPENSES: PROGRAM SERVICE EXPENSES 36,508. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,508. COMMENCEMENT EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 29,893. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 29,893. RECRUITMENT EXPENSE: PROGRAM SERVICE EXPENSES 24,387. MANAGEMENT AND GENERAL EXPENSES 4,933. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 29,320. NETWORKING EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 26,825. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,825. ENTERTAINMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,359. FUNDRAISING EXPENSES 19,949. TOTAL EXPENSES 25,308. VEHICLE EXPENSES: PROGRAM SERVICE EXPENSES 15,529. MANAGEMENT AND GENERAL EXPENSES 5,404. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,933. INSTITUTIONAL ASSESSMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 20,904. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,904. FACULTY DEVELOPMENT: PROGRAM SERVICE EXPENSES 17,021. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,021. FACULTY/STAFF MEALS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 11,425. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,425. OTHER GRANT EXPENDITURES: PROGRAM SERVICE EXPENSES 10,674. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,674. HOMECOMING EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 10,229. TOTAL EXPENSES 10,229. COST OF ACCRUED VACATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,600. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,600. ATHLETIC TEAM MEALS: PROGRAM SERVICE EXPENSES 5,849. MANAGEMENT AND GENERAL EXPENSES 1,950. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,799. MEDICAL SUPPLIES: PROGRAM SERVICE EXPENSES 3,213. MANAGEMENT AND GENERAL EXPENSES 1,071. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,284. CHOIR EXPENSES: PROGRAM SERVICE EXPENSES 3,750. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,750. PHONATHON EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 890. TOTAL EXPENSES 890. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SWAP AGREEMENT 138,869. CHANGE IN VALUE OF PERKINS LOAN -1,262. CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY -16,763. ROUNDING 990 PART XII PAGE 12 LINE 2D THE OVERSIGHT PROCESS OR SELECTION PROCESS FOR THE FINANCIAL AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.