2015-05-08T15:22:33-05:00 2014-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2013-07-01 580566243 SPELMAN COLLEGE % ROBERT D FLANIGAN JR SPEL 4046813643 350 SPELMAN LANE SW Suite ATLANTA GA 30314 ROBERT FLANIGAN JR VP BUSINESS & FINANCE 4042705072 2015-05-05 true ALLISON H FRANKLIN P00448640 4042705072 2013 2016-02-25 16:41:14Z BEVERLY DANIEL TATUM 350 SPELMAN LANE SW ATLANTA GA 30314 214794840 false X WWW.SPELMAN.EDU X 1881 GA SPELMAN COLLEGE, A HISTORICALLY BLACK COLLEGE AND GLOBAL LEADER IN THE EDUCATION OF WOMEN OF AFRICAN DESCENT, IS DEDICATED TO THE ACADEMIC EXCELLENCE OF ITS STUDENTS. 26 24 1557 450 34043 26195 23251965 26128813 67228644 69586965 32387206 30340866 1096591 964918 123964406 127021562 15791051 16180166 0 0 46992294 46663192 101862 85990 4176337 40529575 39617263 103414782 102546611 20549624 24474951 523703169 570973593 110501584 106908416 413201585 464065177 X SPELMAN COLLEGE, A HISTORICALLY BLACK COLLEGE AND GLOBAL LEADER IN THE EDUCATION OF WOMEN OF AFRICAN DESCENT, IS DEDICATED TO ACADEMIC EXCELLENCE IN THE LIBERAL ARTS AND SCIENCES, AND THE INTELLECTUAL, CREATIVE, ETHICAL AND LEADERSHIP DEVELOPMENT OF ITS STUDENTS. SPELMAN EMPOWERS THE WHOLE PERSON TO ENGAGE THE MANY CULTURES OF THE WORLD AND INSPIRES A COMMITMENT TO POSITIVE SOCIAL CHANGE. false false 41985792 16180166 49390278 INSTRUCTION FOUNDED IN 1881, SPELMAN COLLEGE IS A PRIVATE, NONPROFIT INSTITUTION OF HIGHER EDUCATION BASED IN ATLANTA, GEORGIA. THE COLLEGE IS ACCREDITED BY THE COMMISSION ON COLLEGES OF THE ASSOCIATION OF COLLEGES AND SCHOOLS AND PROVIDES QUALITY LIBERAL ARTS EDUCATION AND TRAINING SERVICES FOR APPROXIMATELY 2,100 UNDERGRADUATE STUDENTS. IN ADDITION, THE COLLEGE MAINTAINS SPECIAL PROGRAMS SUCH AS CONTINUING EDUCATION, SUMMER SCIENCE AND DUAL DEGREES IN ENGINEERING. 13586487 20196687 AUXILIARY ENTERPRISES AS A RESIDENTIAL LIBERAL ARTS COLLEGE, SPELMAN COLLEGE PROVIDES ON CAMPUS HOUSING FOR APPROXIMATELY 1,400 STUDENTS. SPELMAN ALSO PROVIDES DINING SERVICES TO ITS RESIDENTIAL STUDENTS, AS WELL AS COMMUTER STUDENTS, FACULTY, STAFF AND OTHERS. SPELMAN OPERATES A 500 SPACE PARKING DECK FOR FACULTY, STAFF, AND STUDENTS. ADDITIONALLY, SPELMAN OFFERS A VARIETY OF SUMMER CONFERENCES FOR HIGH SCHOOL STUDENTS AND OTHER INTERESTED STUDENTS. 3619305 RESEARCH SPELMAN COLLEGE PERFORMS RESEARCH, TRAINING AND OTHER SIMILAR SERVICES UNDER GRANTS WITH GOVERNMENTAL AGENCIES OR SPONSORING ORGANIZATIONS. 376695 PUBLIC SERVICE 7858306 ACADEMIC SUPPORT 11210233 STUDENT SERVICES 19445234 78636818 true true false true false false false true false true true true false false true true false true true false true false false true false false false true true true true false false false false false false false false false true true false false false false true true false false false true 4344 0 true 1557 true true true false false false false false false false false false false X 26 24 true false false false false false false true true false false true true true true true true true true false GA NY X ROBERT D FLANIGAN JR 4042705072 350 SPELMAN LANE SW ATLANTA GA 30314 WALTER R ALLEN TRUSTEE 2.0 X CLAIRE ARNOLD TRUSTEE 2.0 X THEODORE R ARONSON TRUSTEE 2.0 1.0 X ROSALIND G BREWER CHAIR 2.0 X X MARY BROCK TRUSTEE 2.0 X JANINE BROWN TRUSTEE 2.0 X THOMAS H CASTRO TRUSTEE 2.0 X DONALD COLEMAN TRUSTEE 2.0 X KIMBERLY B DAVIS SECRETARY 2.0 X X JERRI L DEVARD TRUSTEE 2.0 X MARY LYNNE DIGGS TRUSTEE 2.0 X EVELYNN M HAMMONDS TRUSTEE 2.0 X CYNTHIA E JACKSON TRUSTEE 2.0 X ROSE HARRIS JOHNSON TRUSTEE 2.0 X RICHARD D LEGON TRUSTEE 2.0 X GWENDOLYN ADAMS NORTON TRUSTEE 2.0 X KEMI A OYEWOLE TRUSTEE 2.0 X LOVETTE T RUSSELL TRUSTEE 2.0 X SUZANNE F SHANK TRUSTEE 2.0 X BRADLEY T SHEARES VICE CHAIR 2.0 1.0 X X ESTHER SILVER-PARKER TRUSTEE 2.0 X CYNTHIA NEAL SPENCE FACULTY TRUSTEE 35.0 X 102839 14363 RONDA E STRYKER VICE CHAIR 2.0 X X BEVERLY DANIEL TATUM COLLEGE PRESIDENT 35.0 1.0 X X 377433 0 0 KATHY WALLER TRUSTEE 2.0 X CELESTE WATKINS-HAYES TRUSTEE 2.0 X Pamela Joseph TRUSTEE 2.0 1.0 X Gena Hudgins Ashe TRUSTEE 2.0 X Kaye Foster-Cheek TRUSTEE 2.0 X Mya Harvard TRUSTEE 2.0 X ROBERT D FLANIGAN JR VP BUSINESS&FINANCE/TREASURER 35.0 15.0 X 299633 25714 JOHNNELLA BUTLER PROVOST 35.0 X 226355 23521 ARLENE CASH FORMER VP ENROLLMENT MGMT 35.0 X 194726 14670 ELOISE ALEXIS VP FOR COLLEGE RELATIONS 35.0 X 157530 19361 KASSANDRA JOLLEY VP FOR DEVELOPMENT 35.0 X 200321 22198 DELORES BARTON VP & CHIEF INFORMATION OFFICER 35.0 X 151575 17340 DARNITA KILLIAN VP FOR STUDENT AFFAIRS 35.0 X 167538 19117 INGRID HAYES VP FOR ENROLLMENT MANAGEMENT 35.0 X 13465 1720 GLORIA WADE-GAYLES FACULTY 35.0 X 141791 17618 MYRA BURNETT ASSOCIATE PROVOST 35.0 X 143508 17929 ARTHUR FRAZIER FACULTY 35.0 X 130604 17372 RHONDA HONEGAN DIR OF INVESTMENTS & FIN PLN 35.0 X 146153 18409 RASHEED TOGUNDE FACULTY 35.0 X 133996 16491 2587467 0 245823 39 false true false ARAMARK FACILITY SERVICES 24818 NETWORK PLACE CHICAGO IL 60673 FACILITY SERVICES 1181668 CHESAPEAKE ASSET MANAGEMENT LLC ONE ROCKEFELLER PLAZA SUITE 2321 NEW YORK NY 10020 INVESTMENT MANAGERS 977965 MENEFEE ARCHITECTURE 1075 BRADY AVENUE NW ATLANTA GA 30318 ARCHITECTURE DESIGN 747048 Siemens Industry Inc 1745 Corporate Drive Ste 240 NORCROSS GA 30093 MECHANICAL SERVICES 695914 Byte Works LLC 1725 Breckinridge PlazaBLDG 300 ST DULUTH GA 30096 TECHNOLOGY SERVICES 565597 17 12022265 6396042 7710506 82007 26128813 TUITION AND FEES 900099 49390278 49390278 AUXILARY ENTERPRISES 900099 20196687 20196687 69586965 3646988 34043 3612945 0 0 0 0 0 114467156 87773278 26693878 26693878 26693878 0 0 0 OTHER MISCELLANEOUS 900099 964918 964918 964918 127021562 70551883 34043 30306823 33599 33599 16146567 16146567 0 0 1822309 604932 835463 381914 0 35080119 26779553 6326790 1973776 1657649 1213662 337252 106735 5375840 3935968 1093725 346147 2727275 1996799 554869 175607 0 471326 471326 256175 256175 56052 56052 85990 85990 1767854 57 1767797 5784514 4912070 764526 107918 0 3262886 2231015 807883 223988 0 0 3654325 3034787 619538 1862536 1222088 363003 277445 0 0 3643291 2345246 1298045 0 4309699 3917318 392381 1612071 1434976 177095 CLEANING EXPENSES 1333110 1136191 196919 AUC LIBRARY 2708862 2363458 345404 REPAIRS AND MAINTENANCE 2307001 1626164 663950 16887 SPECIAL PROJECTS 3389394 2353946 615298 420150 3198167 1348422 1789965 59780 102546611 78636818 19733456 4176337 0 0 14211512 23318260 17183719 16244087 1771260 1854068 0 0 0 0 0 0 0 0 0 0 256863007 98227685 159743182 158635322 41692278 51437468 285479098 315599229 1483769 1511279 0 0 2138351 2373880 523703169 570973593 10868221 11563156 0 0 1024338 1237027 96057445 91844346 0 0 0 0 0 0 854439 640829 1697141 1623058 110501584 106908416 X 113645211 127828885 180780398 215449658 118775976 120786634 413201585 464065177 523703169 570973593 X 24474951 26401755 -13114 X false true X true true true X 20497101 22938786 34477104 23251965 26128813 127293769 0 0 20497101 22938786 34477104 23251965 26128813 127293769 16352528 110941241 2607840 3623719 3747562 7071657 3646988 20697766 0 919347 869629 1035806 1096591 964918 4886291 152877826 326280333 0.72569 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 56052 56052 false SCHEDULE C, PART II-B, QUESTION 1I OTHER ACTIVITIES SPELMAN COLLEGE RETAINS A CONSULTANT, POLSINELLI SHUGHART PC, TO PROMOTE LEGISLATION WHICH WOULD PROVIDE SPELMAN COLLEGE WITH FEDERAL FUNDS FOR USE ON VARIOUS COLLEGE PROJECTS AND PROGRAMS. POLSINELLI SHUGHART PC WAS PAID $56,052 FOR THEIR SERVICES. X X X X X Curriculum enhancement & develop. true 328779797 2010658 56724046 0 18866028 368648473 310081185 3526371 34925196 0 19752955 328779797 332285750 1607182 -2990194 0 20821553 310081185 304160522 1281477 47000450 0 20156699 332285750 295407693 1107649 25193306 0 17548126 304160522 0.16570 0.32770 0.50660 false true true 14687723 14687723 188462103 72028700 116433403 27273929 23598381 3675548 26439252 2600604 23838648 158635322 SHORT-TERM INVESTMENTS 4433632 F FIXED INCOME 31554809 F NON U.S. EQUITY 38028678 F MARKETABLE ALTERNATIVES 58101546 F REAL ASSETS 40007168 F PRIVATE EQUITY 143473396 F 315599229 0 OBLIGATIONS UNDER CAPITAL LEASE 50890 ADVANCES FROM FEDERAL GOVERNMENT 1572168 1623058 X 137230037 26401755 26401755 110828282 16193280 16193280 127021562 86366445 86366445 16180166 16180166 102546611 SCHEDULE D, PART III, LINE 1A SFAS 116 THE ORGANIZATION ELECTED, AS PERMITTED UNDER SFAS 116, NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. THERE IS NO FINANCIAL STATEMENT FOOTNOTE DISCLOSURE THAT DESCRIBES THESE ITEMS. SCHEDULE D, PART V, QUESTION 4 INTENDED USES OF ORGANIZATION'S ENDOWMENT FUNDS INVESTMENT IN A MIX OF SECURITIES TO PROVIDE SUFFICIENT INCOME TO SUPPORT THE COLLEGE'S OPERATIONS IN ACCORDANCE WITH DONOR WISHES, WHILE PRESERVING EQUITY. SCHEDULE D, PART III, LINE 4 ART COLLECTION THE COLLEGE'S PERMANENT COLLECTION OF ART -- INCLUDING HISTORICALLY SIGNIFICANT PAINTINGS, SCULPTURE, AND WORKS ON PAPER -- IS AN ACADEMIC RESOURCE THAT OFFERS STUDENTS, FACULTY, AND STAFF FIRST-HAND ENGAGEMENT WITH IMPORTANT ORIGINAL WORKS OF ART. OBJECT LESSONS, WORKSHOPS, CONSERVATION PROJECTS, EXHIBITIONS, AND THEMATIC PROGRAMS DEMONSTRATE THE VARIOUS WAYS THAT THE PERMANENT HOLDINGS ARE USED TO EXPAND, COMPLEMENT, AND ENHANCE THE ACADEMIC CURRICULUM. SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE THE COLLEGE IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (THE CODE) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE COLLEGE REVIEWS ITS TAX POSITIONS ANNUALLY AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS AT JUNE 30, 2014 AND 2013. SCHEDULE D, PART XI, LINE 4B CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 13,114 STUDENT AID RECLASS 16,180,166 ------------ TOTAL 16,193,280 ============ SCHEDULE D, PART XII, LINE 4B STUDENT AID RECLASS 16,180,166 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 RACIALLY NONDISCRIMINATORY POLICY A STATEMENT OF THE COLLEGE'S RACIALLY NON-DISCRIMINATORY POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS IN ACCORDANCE WITH THE PROVISIONS OF REV. PROC. 75-50. SCHEDULE E, LINE 6A FINANCIAL AID ASSISTANCE FROM GOVERNMENTAL AGENCY THE FINANCIAL AID ASSISTANCE IS RECEIVED FROM THE FEDERAL GOVERMENT, STATE OF GEORGIA, AND OTHER STATES. OTHER ASSISTANCE IS RECEIVED FROM FEDERAL GOVERNMENT, STATE OF GEORGIA, AND CITY OF ATLANTA. true Central America and the Caribbean Program Services STUDY ABROAD 24386 East Asia and the Pacific Program Services STUDY ABROAD 42414 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 78701 South America Program Services STUDY ABROAD 23672 Sub-Saharan Africa Program Services STUDY ABROAD 800 169973 169973 true false true true false false SCHEDULE F, PART I, LINE 2 STUDENT FINANCIAL AID STUDENT FINANCIAL AID AWARDS ARE AWARDED TO STUDENTS BY THE COLLEGE' S OFFICE OF STUDENT FINANCIAL SERVICES. AWARDS ARE BASED ON A NUMBER OF FACTORS INCLUDING, BUT NOT LIMITED TO, SCHOLARLY ACHIEVEMENT, DEMONSTRATED FINANCIAL NEED, AND ACADEMIC INTERESTS. FUNDS ARE PROVIDED BY SOURCES SUCH AS FEDERAL AND STATE GOVERNMENTS; PRIVATE DONORS SUCH AS CORPORATIONS, INDIVIDUALS AND FOUNDATIONS; THE COLLEGE'S ENDOWED FINANCIAL AID FUNDS; AND THE COLLEGE'S OPERATING BUDGET. FINANCIAL AID AWARDS ARE MADE UP TO A LIMIT OF THE STUDENT'S FINANCIAL NEED. INDIVIDUAL AWARDS ARE MONITORED EXTENSIVELY IN ORDER TO ENSURE THAT STUDENTS ARE MAKING SATISFACTORY ACADEMIC PROGRESS AND THAT THEY DO NOT RECEIVE MORE THAN THEIR DEMONSTRATED NEED. ADJUSTMENTS ARE MADE WHEN APPROPRIATE. X X X X true COXE CURRY ASSOCIATES FUNDRAISING CAMPAIGN false 59483 WASHBURN MCGOLDRICK INC CAMPAIGN CONSULTANTS false 26507 85990 true GASDSEN STATE COMMUNITY COLLEGE 1001 George Wallace Dr Gadsden AL 35903 630501425 33599 0 N/A N/A SUB-CONTRACT 1 STUDENT FINANCIAL AID 1668 16146567 N/A N/A Schedule I, Part I, LINE 2 AND PART III Student Financial Aid STUDENT FINANCIAL AID AWARDS ARE AWARDED TO STUDENTS BY THE COLLEGE'S OFFICE OF STUDENT FINANCIAL SERVICES. AWARDS ARE BASED ON A NUMBER OF FACTORS INCLUDING, BUT NOT LIMITED TO, SCHOLARLY ACHIEVEMENT, DEMONSTRATED FINANCIAL NEED, AND ACADEMIC INTERESTS. FUNDS ARE PROVIDED BY SOURCES SUCH AS FEDERAL AND STATE GOVERNMENTS; PRIVATE DONORS SUCH AS CORPORATIONS, INDIVIDUALS AND FOUNDATIONS; THE COLLEGE'S ENDOWED FINANCIAL AID FUNDS; AND THE COLLEGE'S OPERATING BUDGET. FINANCIAL AID AWARDS ARE MADE UP TO A LIMIT OF THE STUDENT'S FINANCIAL NEED. INDIVIDUAL AWARDS ARE MONITORED EXTENSIVELY IN ORDER TO ENSURE THAT STUDENTS ARE MAKING SATISFACTORY ACADEMIC PROGRESS AND THAT THEY DO NOT RECEIVE MORE THAN THEIR DEMONSTRATED NEED. ADJUSTMENTS ARE MADE WHEN APPROPRIATE. X X X true true X X X X X X true true false false false false false false false BEVERLY DANIEL TATUM COLLEGE PRESIDENT 359933 0 17500 75141 39485 492059 0 0 ROBERT D FLANIGAN JR VP BUSINESS&FINANCE/TREASURER 299633 15300 10414 325347 0 JOHNNELLA BUTLER PROVOST 226355 13907 9614 249876 0 ARLENE CASH FORMER VP ENROLLMENT MGMT 108579 86147 4550 10120 209396 0 ELOISE ALEXIS VP FOR COLLEGE RELATIONS 157530 9683 9678 176891 0 KASSANDRA JOLLEY VP FOR DEVELOPMENT 200321 12387 9811 222519 0 DELORES BARTON VP & CHIEF INFORMATION OFFICER 151575 7403 9937 168915 GLORIA WADE-GAYLES FACULTY 141791 8593 9025 159409 0 MYRA BURNETT ASSOCIATE PROVOST 143508 8960 8969 161437 0 RHONDA HONEGAN DIR OF INVESTMENTS & FIN PLN 146153 9001 9408 164562 0 DARNITA KILLIAN VP FOR STUDENT AFFAIRS 167538 9002 10115 186655 0 RASHEED TOGUNDE FACULTY 133996 7446 9045 150487 0 FORM 990, SCHEDULE J, QUESTION 1A COMPENSATION QUESTION SOCIAL CLUB DUES WERE PAID FOR TATUM AND BUTLER IN THE AMOUNT OF $2,446 AND $2,165, RESPECTIVELY. THE VALUE OF THESE DUES WAS NOT TREATED AS TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE HOUSING VALUED AT $29,035 WAS PROVIDED TO TATUM. THE VALUE OF THE HOUSING WAS NOT TREATED AS TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 4A SEVERANCE PAYMENT ARLENE CASH, FORMER VP OF ENROLLMENTS, RECEIVED A SEVERANCE PAYMENT OF $86,147. SCHEDULE J, PART I, LINE 4B PRESIDENTS' REPORTABLE OTHER COMPENSATION BEVERLY DANIEL TATUM'S OTHER REPORTABLE COMPENSATION REPORTED ON PART II, COLUMN B(III) IS COMPRISED OF $17,500, WHICH IS 457(B) DEFERRED COMPENSATION PAID IN ACCORDANCE WITH HER EMPLOYMENT CONTRACT. ADDITIONALLY, RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C IS COMPRISED OF $59,840, WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HER EMPLOYMENT CONTRACT. A DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900TAS 2007-03-21 64041214 SEE SCHEDULE O false false false B DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 2009-09-01 1500000 SEE SCHEDULE O false false false C DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 2009-09-01 6100000 SEE SCHEDULE O false false false D DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 3599002LO 2012-04-09 28349973 SEE SCHEDULE O false false false A 7220000 0 68883486 0 3777739 0 754073 0 0 54773104 9578570 0 2009 true false false true B 800000 0 1500000 0 0 0 0 0 0 0 1500000 0 1999 true false true true C 1100000 0 6100000 0 0 0 0 0 0 0 6100000 0 2004 true false true true D 1200000 0 28349973 0 0 18272757 460658 0 0 0 9616557 0 2012 true true true true A false true true true false 0.00420 0.00420 false false false true B false false true true true true 0.02900 0.02900 false false false true C false false false false 0 false false false true D false false true true false 0 false false false true A true false false 0 true HYPO PUBLIC FINANCE 2.2 true false true B true true false 0 false 0 false true C true true false 0 false 0 false true D false true false false false false 0 false 0 false true A false B false C false D false DESCRIPTION OF PURPOSE SCHEDULE K, PART I, COLUMN F DEVELOPMENT AUTHORITY OF FULTON COUNTY: A- 1. CONSTRUCTION OF IMPROVEMENTS TO COLLEGE FACILITIES, INCLUDING A NEW DORMITORY AND CAMPUS INFRASTRUCTURE; 2007 PROCEEDS USED: $54,773,104. 2. CURRENT REFUNDING OF A PORTION OF PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1994, ISSUANCE DATE: JULY 21, 1994; PROCEEDS USED: $5,085,377. 3. CURRENT REFUNDING OF PROMISSORY NOTE, ISSUED NOVEMBER 17, 2004; 2007 PROCEEDS USED: $4,493,194. B- REISSUANCE OF DEVELOPMENT AUTHORITY OF FULTON COUNTY ADJUSTABLE RATE DEMAND REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1996 (TREATED AS CURRENT REFUNDING); ISSUE DATE: DECEMBER 1, 1996. C- REISSUANCE OF DEVELOPMENT AUTHORITY OF FULTON COUNTY ADJUSTABLE RATE DEMAND REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1999 (TREATED AS CURRENT REFUNDING); ISSUE DATE: NOVEMBER 19, 1999. D- 1. ADVANCE REFUNDING OF A PORTION OF PRIVATE COLLEGES AND UNIVERSITIES REVENUE BONDS (SPELMAN COLLEGE PROJECT) SERIES 2003; ISSUE DATE: JANUARY 30, 2003; PROCEEDS USED: $18,272,757 2. CURRENT REFUNDING OF PROMISSORY NOTE ISSUED OCTOBER 29, 2008; 2012 PROCEEDS USED: $6,440,526 3. CURRENT REFUNDING OF PROMISSORY NOTE; ISSUE DATE: FEBRUARY 28, 2010; 2012 PROCEEDS USED: $3,192,547 PRIVATE COLLEGES & UNIVERSITY AUTHORITY: A- 1. CONSTRUCTION, RENOVATIONS AND EQUIPPING OF COLLEGE FACILITIES; 2003 PROCEEDS USED: $23,660,980. 2. ADVANCE REFUNDING OF A PORTION OF PRIVATE COLLEGE AND UNIVERSITIES REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1994, ISSUANCE DATE: JULY 21, 1994; 2003 PROCEEDS USED: $6,213,020. TOTAL PROCEEDS OF ISSUE SCHEDULE K, PART II, LINE 3 DEVELOPMENT AUTHORITY OF FULTON COUNTY: B - THIS WAS A REISSUANCE OF THE SERIES 1996 BONDS AND NO CASH PROCEEDS WERE GENERATED. THE REISSUANCE WAS TREATED AS A CURRENT REFUNDING. C - THIS WAS A REISSUANCE OF THE SERIES 1999 BONDS AND NO CASH PROCEEDS WERE GENERATED. THE REISSUANCE WAS TREATED AS A CURRENT REFUNDING. EXPLANATION OF VARIANCE SCHEDULE K, PART II, LINE 3 The Part I, Column (e) issue price does not agree with the Part II, line 3 Total proceeds of issue for certain bonds due to the inclusion of interest and other investment earnings on the proceeds accounts. SCHEDULE K, PART II, LINE 9 PRIVATE COLLEGES & UNIVERSITY AUTHORITY: A - TOTAL CAPITAL EXPENDITURES OF $24,835,937 INCLUDES CAPITALIZED INTEREST OF $1,174,957. B - TOTAL CAPITAL EXPENDITURES OF $58,550,843 INCLUDES CAPITALIZED INTEREST OF $3,777,739. SCHEDULE K, PART III, LINE 3C DEVELOPMENT AUTHORITY OF FULTON COUNTY: A, B, C AND D: BOND COUNSEL REVIEWS THIRD-PARTY CONTRACTS IN CONNECTION WITH THE ISSUANCE OF THE COLLEGE'S BONDS (WHICH HAVE OCCURRED IN 1988, 1994, 1996, 1999, 2003, 2007). PRIVATE COLLEGES & UNIVERSITIES AUTHORITY: A: BOND COUNSEL REVIEWS THIRD-PARTY CONTRACTS IN CONNECTION WITH THE ISSUANCE OF THE COLLEGE'S BONDS (WHICH HAVE OCCURRED IN 1988, 1994, 1996, 1999, 2003, 2007). A PRIVATE COLLEGES & UNIVERSITIES AUTHORITY 581407790 74265LQB7 2003-01-30 30800674 SEE SCHEDULE O false false false A 7220000 17010000 31540044 0 1174857 0 491087 0 0 23654880 6219220 0 2007 false true true true A false false true true false 0 false false false true A true false false 0 false 0 true true A false CHESAPEAKE ASSET MANAGEMENT FORMER TRUSTEE IS OWNER 1061702 ENDOWMENT ADVISOR false X SEE PART II 8 82007 FMV false true true SCHEDULE M, PART I, QUESTIONS 25-27 OTHER NON-CASH CONTRIBUTIONS DONATIONS OF VARIOUS ITEMS: BEVERAGES, PROMOTIONAL ITEMS, AND MISCELLANEOUS. FAIR MARKET VALUED AT $82,007. SCHEDULE M, PART I, QUESTION 32A THIRD PARTIES SPELMAN COLLEGE USES THIRD PARTY STOCK BROKERS TO PROCESS NON-CASH CONTRIBUTIONS. FORM 990, PART VI, SECTION B, QUESTION 11 FORM 990 REVIEW PROCESS A REPRESENTATIVE OF KPMG WILL PRESENT THE 990 TO THE BUDGET AND FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BUDGET AND FINANCE COMMITTEE WILL PRESENT THE DRAFT 990 TO THE FULL BOARD OF TRUSTEES. THE FINAL COPY OF THE 990 WILL BE PLACED ON THE TRUSTEES INTRANET FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, QUESTION 12C CONFLICT OF INTEREST POLICY EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE UPON THEIR INITIAL HIRING. THE COLLEGE HAS A WRITTEN CONFLICT OF INTEREST POLICY IN ITS EMPLOYEE HANDBOOK. IF HUMAN RESOURCES BECOMES AWARE OF A CONFLICT, THE EMPLOYEE IS NOTIFIED AND REQUIRED TO SUBMIT A CONFLICT OF INTEREST STATEMENT, WHICH IS FILED IN THE EMPLOYEE'S PERSONNEL FILE. ALL TRUSTEES, BOARD REPRESENTATIVES AND SENIOR TEAM MEMBERS MUST COMPLETE AND SIGN A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. COMPLIANCE IS MONITORED AND A SUMMARY IS PROVIDED TO THE SECRETARY OF THE BOARD. FORM 990, PART VI, SECTION B, QUESTIONS 15A AND 15B PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION OF THE COLLEGE'S PRESIDENT IS DETERMINED AS FOLLOWS: COMPARABILITY STUDIES ARE PERFORMED BY AN INDEPENDENT THIRD PARTY COMPENSATION CONSULTANT. IT IS THE COLLEGE'S GOAL THAT THE PRESIDENT'S COMPENSATION BE IN THE 50TH-75TH PERCENTILE OF THE COLLEGES AND UNIVERSITIES USED IN THE COMPARABILITY SURVEY. THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE RECOMMENDATIONS MADE BY THE COMPENSATION CONSULTANT AND MAKES A RECOMMENDATION TO THE FULL BOARD OF TRUSTEES. THE FULL BOARD OF TRUSTEES VOTES ON THE PRESIDENT'S COMPENSATION PACKAGE. WITH RESPECT TO OTHER OFFICERS AND KEY EMPLOYEES, THE COMPENSATION OF THESE INDIVIDUALS IS DETERMINED BY THE PRESIDENT. THE PRESIDENT RECOMMENDS THE COMPENSATION FOR THESE INDIVIDUALS. THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE COMPENSATION. FOR THESE INDIVIDUALS, COMPENSATION STUDIES ARE PERFORMED BY AN INDEPENDENT THIRD PARTY FIRM OR THE COLLEGE'S HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, QUESTION 19 MAKING DOCUMENTS AVAILABLE TO THE PUBLIC SPELMAN COLLEGE DOES NOT MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. HOWEVER, DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 9 OTHER CHANGES IN NET ASSETS CHANGE IN VALUE OF SPLIT INTEREST TRUSTS (13,114) Form 990, Part IX, Line 24 Other Expenses Other expenses includes $22,878 in unrelated business income tax. FORM 990, PART VI, SECTION A, QUESTION 2 FAMILY AND BUSINESS RELATIONSHIP Trustee THEODORE Aronson has a business relationship with former Trustee Jonathan Smith. Trustee BRADLEY Sheares and former Trustee Burgdoerfer are both directors of the publicly traded Progressive Corporation. COLLEGIATE PROPERTY DEVELOPMENT COMPANY 350 SPELMAN LANE SW ATLANTA GA 30314 311636865 ACQUIRE PROP GA 501(c)(2) N/A NA true SPELMAN COLLEGE SPECIAL VENTURES FUND 350 SPELMAN LANE SW ATLANTA GA 30314 581561343 INVESTMENTS GA 501(C)(3) 11 NA true false false true false false false false false false false false false false false false false false false SPELMAN COLLEGE SPECIAL VENTURES FUND INC C 12022265 COST