2015-05-13T13:07:43-05:00 2014-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2013-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 JAN WEISEN VICE PRESIDENT OF FINANCE 6177453000 2015-05-12 1 DAVID A DIIULIS P00303577 6174711120 2015-05-12 2013 2016-02-25 16:41:14Z JAN WEISEN 23 EAST ELM AVENUE QUINCY MA 02170 48355798 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 GODS TRANSFORMING GRACE THROUGH JESUS CHRIST. 43 43 860 100 0 0 2979124 2974171 19145350 29533440 621650 944057 587319 2340066 23333443 35791734 980411 10975847 0 0 13232924 13568836 0 0 984978 8688509 11576911 22901844 36121594 431599 -329860 52126459 51779762 21642640 19627854 30483819 32151908 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 GODS TRANSFORMING GRACE THROUGH JESUS CHRIST. 0 0 24023944 10975847 29533440 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. 24023944 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 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 10 0 1 860 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 ARTHUR ALEXANDER TRUSTEE 0.60 X 0 0 0 MICHEAL ASPINALL TRUSTEE 0.60 X 0 0 0 AMY BARNARD 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 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 BECKY DUNMAN TRUSTEE 0.60 X 0 0 0 WILLIAM DYMENT 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 WAYNE HENNEN 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 TRUSTEE 0.60 X 0 0 0 SCOTT MACPHERSON TRUSTEE 0.60 X 0 0 0 J BRET METCALFE TRUSTEE 0.60 X 0 0 0 KENNETH MILLS TRUSTEE 0.60 X 0 0 0 ANGELA NEVES TRUSTEE 0.60 X 0 0 0 ALLEN PAYNE TRUSTEE 0.60 X 0 0 0 RICHARD PRITCHARD TRUSTEE 0.60 X 0 0 0 JAMES REARICK TRUSTEE 0.60 X 0 0 0 LEROY RICHARDS TRUSTEE 0.60 X 0 0 0 JONATHAN RUSSELL TRUSTEE 0.60 X 0 0 0 MIKE SCHUTZ TRUSTEE 0.60 X 0 0 0 DAVID SHARPES 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 MELODY TWITCHELL TRUSTEE 0.60 X 0 0 0 CORLISS MCGEE PRESIDENT 40.00 X 198704 0 20796 JAN WEISEN V/P OF FINANCE 40.00 X 106401 0 14150 TIMOTHY WOOSTER PROVOST 40.00 X 117500 0 24489 SCOTT TURCOTT V/P INSTITUTIONAL DEVELOPM 40.00 X 107300 0 23705 COREY MACPHERSON V/P SPIRITUAL DEVELOPMENT 40.00 X 94311 0 22671 JOSSIE OWENS V/P ADULT AND GRADUATE STUDIES 40.00 X 75000 0 5797 JEFFREY KIRKSEY V/P SPIRITUAL DEVELOPMENT 40.00 X 48200 0 12516 747416 0 124124 4 0 1 0 PIONEER COLLEGE CATERERS INC 82 HART STREET NASHVILLE TN 37210 FOOD SERVICE 971174 GREENBERG TRAURIG LLP ONE INTERNATIONAL PLACE BOSTON MA 02110 CONSULTING 414992 US SECURITY ASSOCIATES INC PO BOX 417142 BOSTON MA 02241 SECURITY 270277 RUFFALOCODY 65 KIRKWOOD NORTH RD SW CEDAR RAPIDS IA 52404 CONSULTING 242488 CENGAGE LEARNING 10650 TOEBBEN DRIVE INDEPENDENCE KY 41051 CONSULTING 170519 5 17956 523610 2432605 2974171 TUITION AND FEES 900099 25415502 25415502 ROOM AND BOARD 900099 4117938 4117938 29533440 241187 241187 514730 311519 203211 203211 203211 12859773 12156903 702870 702870 702870 0 17956 53999 -53999 -53999 94968 41643 53325 53325 MISCELLANEOUS REVENUE 900099 2137529 2137529 2137529 35791734 29533440 0 3284123 10975847 10975847 747416 142511 497605 107300 9545488 7155400 1955454 434634 507487 323596 155199 28692 1985685 1026613 920026 39046 782760 524996 226562 31202 59339 6732 52607 60572 60572 66357 66357 3265120 1119893 2107470 37757 647525 406071 56324 185130 1429630 974834 419374 35422 198057 1246 196811 900798 93356 807442 346129 172839 123385 49905 222666 182593 38138 1935 958788 958788 1409033 1409033 240255 33159 207096 BAD DEBTS 850503 667964 182539 0 MISCELLANEOUS EXPENSES 534666 162230 338481 33955 REPAIRS AND MAINTENANCE 387473 54064 333409 0 36121594 24023944 11112672 984978 108874 704491 1657625 1698846 313150 122403 3745913 1933003 849967 793397 208096 155826 278272 190505 55524206 30978825 22499403 24545381 20484806 21191277 1980353 444633 52126459 51779762 2206590 2634421 711261 712154 107765 64870 16892024 16216409 1725000 21642640 19627854 X 17226483 17893080 3541339 3763098 9715997 10495730 30483819 32151908 52126459 51779762 -329860 1997949 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 11773262 447239 92059 2850 14649 37937 12257124 0.07000 0.71000 0.22000 0 0 1047718 1047718 15003396 6908357 8095039 23979085 10419884 13559201 15494007 13650584 1843423 24545381 REAL ESTATE HELD FOR INVESTMENT PURPOSES 12254747 F PUBLIC SECURITIES 1533341 F PRIVATELY HELD SECURITIES 6000 F MUTUAL FUNDS 7217888 F LIMITED PARTNERSHIP 179301 F 21191277 X 27625976 1997949 95741 2093690 25532286 66357 10193091 10259448 35791734 25957887 95741 95741 25862146 66357 10193091 10259448 36121594 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: UNITED STATES OF AMERICA GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A MORE LIKELY THAN NOT 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. INTEREST AND PENALTIES, IF ANY, RELATED TO ASSESSMENTS BY TAX AUTHORITIES WILL BE CLASSIFIED AS A COMPONENT OF INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY, IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NETS ASSETS. A TAX POSITION MAY BE CONSIDERED AS TAKEN ANY TIME A TAXPAYER CHOOSES AMONGST ALTERNATIVES THAT AFFECT THE AMOUNT OF THEIR TAX OBLIGATIONS AND INCLUDE FOR EXAMPLE: TAX EXEMPT STATUS; STATUS OF A PASS-THROUGH ENTITY (S CORPORATIONS, LLCS, ETC.); DECISIONS MADE IN THE PROCESS OF CONFORMING WITH TAX LAWS; DECISIONS NOT TO FILE IN CERTAIN JURISDICTIONS; ALLOCATION OF INCOME BETWEEN JURISDICTIONS; AND THE CHARACTERIZATION OF INCOME OR EXPENSES. 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. THE COLLEGE HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SINCE THE CONTINUANCE OF THIS STATUS IS BASED UPON CONTINUING QUALIFICATION, THE COLLEGE HAS IDENTIFIED THIS AS A TAX POSITION. HOWEVER, IT HAS DETERMINED THAT THIS TAX POSITION MEETS "MORE LIKELY THAN NOT" SUSTAINABILITY AND DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 53,998. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 41,743. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 10,193,091. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 53,998. COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 41,743. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 10,193,091. 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 17956 17956 51270 1825 904 17956 17956 51270 1825 904 53999 -53999 1 VARIOUS INSTITUTIONAL SCHOLARSHIPS 933 10975847 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 CORLISS MCGEE PRESIDENT 198704 0 0 0 0 0 0 0 20796 0 219500 0 0 0 X 6 32707 FMV 0 0 0 PART I, COLUMN (B): AS DESCRIBED IN THE SCHEDULE M INSTRUCTIONS, EACH SEPERATE GIFT IS TREATED AS CONTRIBUTION RATHER THAN EACH SHARE RECEIVED. FORM 990, PART VI, SECTION B, LINE 11 BOARD MEMBERS REVIEWED AND EXAMINED FORM 990 FOR ACCURACY. UPON BOARD APPROVAL 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 COMMITTE 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