2014-11-11T07:22:20-06:00 2014-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2013-07-01 620476661 TENNESSEE WESLEYAN COLLEGE TENN 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 LARRY WALLACE SENIOR VICE PRESIDENT 4237465208 2014-10-23 1 KIM HUSKEY CPA P00958962 4237567771 2014-10-23 2013 2015-11-30 17:44:51Z LARRY WALLACE 204 EAST COLLEGE STREET ATHENS TN 37303 28366641 0 X WWW.TWCNET.EDU X 1857 TN FOUR-YEAR LIBERAL ARTS COLLEGE 34 34 327 5 0 0 1062007 4387932 22913771 23375953 134193 176289 438354 426467 24548325 28366641 8842504 9331676 0 0 7718041 8397330 0 0 421721 7586900 7836972 24147445 25565978 400880 2800663 29139698 31853060 16341157 15735120 12798541 16117940 FOUR-YEAR LIBERAL ARTS COLLEGE 0 0 15139234 9331676 0 INSTRUCTIONAL - ENROLLED AND EDUCATED OVER 1,012 STUDENTS. 572532 0 ACADEMIC SUPPORT - INCLUDES THE FUNDS SPENT IN SUPPORT OF THE COLLEGE'S LIBRARY AND OTHER SIMILAR ACTIVITIES. 5169631 0 STUDENT SERVICES - INCLUDES THE FUNDS ASSOCIATED WITH THE SUPPORT OF THE COLLEGE'S STUDENTS ACADEMICS AND RELATED STUDENT ACTIVITIES. 23802420 23802420 20881397 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 20 0 1 327 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 34 34 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 F CARTER BOARD OF DIRECTOR, CHAIR 2.00 X 0 0 0 HUGH QUEENER BOARD OF DIRECTOR, VICE CH 2.00 X 0 0 0 MATTHEW BROOKSHIRE BOARD OF DIRECTOR, SECRETA 2.00 X 0 0 0 BRYAN JACKSON BOARD OF DIRECTOR, FINANCE 2.00 X 0 0 0 TOM REED BOARD OF DIRECTOR, STUDENT 2.00 X 0 0 0 JIM WINER BOARD OF DIRECTOR, FACILIT 2.00 X 0 0 0 KEITH ALTSHULER BOARD OF DIRECTOR, FORT SA 2.00 X 0 0 0 MINTIE WILLSON BOARD OF DIRECTOR 1.00 X 0 0 0 CARL E COLLOMS BOARD OF DIRECTOR 1.00 X 0 0 0 SHARON S BROWN BOARD OF DIRECTOR 1.00 X 0 0 0 AILENE CHAMBERS BOARD OF DIRECTOR 1.00 X 0 0 0 ANGIE GREEN BOARD OF DIRECTOR 1.00 X 0 0 0 LAURIE HALLENBERG BOARD OF DIRECTOR 0.00 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 TENNA HORNSBY BOARD OF DIRECTOR 1.00 X 0 0 0 LARRY MAULDIN BOARD OF DIRECTOR 1.00 X 0 0 0 WILLIAM B KILBRIDE BOARD OF DIRECTOR 1.00 X 0 0 0 THOMAS F KORN 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 CLAIRE TUCKER 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 MARY WILLIAMS 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 LARRY KLEINMAN BOARD OF TRUSTEES 1.00 X 0 0 0 DAN GILBERT BOARD OF TRUSTEES 1.00 X 0 0 0 KRISTEN CAMP BOARD OF TRUSTEES 1.00 X 0 0 0 JO LUNDY BOARD OF TRUSTEES 1.00 X 0 0 0 HARLEY KNOWLES PRESIDENT 40.00 X 228872 0 16745 SUZANNE T HINE VP OF ACADEMIC AFFAIRS 40.00 X 103720 0 11044 LARRY WALLACE SENIOR VICE PRESIDENT 40.00 X 74125 0 4238 RANDY NELSON VP FOR ADVANCEMENT 40.00 X 82110 0 11762 SCOTT MASHBURN VP OF STUDENT LIFE 40.00 X 74806 0 9467 563633 0 53256 2 0 1 0 ARAMARK CORP 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 1262842 NATIONAL MANGAMENT RESOURCES CORP PO BOX 1224 LA GRANGE GA 30241 MAINTENANCE 642023 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTIONS CENTER CHICAGO IL 60677 TEXTBOOK SERVICES 281018 ROYAL CHARTER & TOUR PO BOX 2324 CLEVELAND TN 37320 TRAVELING SERVICES 120392 MURRAY GUARD INC PO BOX 1000 MEMPHIS TN 37148 SECURITY SERVICES 111781 12 129329 4258603 4387932 TUITION 624310 20840194 20840194 FOOD SERVICE 722210 1557425 1557425 RESIDENCE HALL 721310 881438 881438 BOOKSTORE 451211 48496 48496 CAMPS AND CONFERENCES 900099 48400 48400 23375953 176289 176289 FORT SANDERS NURSING SUPPLEMENT 611600 409650 409650 INSURANCE DIVIDENDS/REBATES 900099 90 90 16727 16727 426467 28366641 23802420 0 176289 X 9331676 9331676 6749736 5108678 1347242 293816 230089 168978 54920 6191 809494 609727 172825 26942 608011 464146 124987 18878 4645 4645 56971 56971 151714 4460 147254 404219 276894 115991 11334 677524 677524 880917 752096 128821 CONTRACTED SERVICES 1937915 1665586 266668 5661 UTILITIES 635607 577964 57643 UNIFORMS AND OTHER SUPP 261420 156791 86362 18267 FACILITY FEES 259797 259797 2566243 1504604 1021007 40632 25565978 20881397 4262860 421721 1301 1302 1815086 1386219 330385 1327558 1058109 1252572 132766 110683 24784 20489 160296 171664 28132909 11770704 15847589 16362205 9635425 11055813 68603 92603 65354 71952 29139698 31853060 570044 685198 960055 923980 12611543 12183580 2199515 1942362 16341157 15735120 X 2732050 3215303 652373 1954325 9414118 10948312 12798541 16117940 29139698 31853060 X 2800663 275358 243378 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9414118 1399823 111406 10925347 9371970 140343 84427 -182622 9414118 9157986 223398 -9414 9371970 9210819 83595 -136428 9157986 8911085 249302 50432 9210819 0 0 1347191 1347191 17705799 6202664 11503135 2389428 1150498 1238930 5332607 3361650 1970957 1357884 1055892 301992 16362205 FEDERAL SHARE OF PERKINS LOAN PROGRAM 10402 AGENCY FUNDS 151953 SPLIT-INTEREST AGREEMENTS 121394 BOND INTEREST RATE SWAP 1658613 1942362 X 19310323 275358 275358 19034965 9331676 9331676 28366641 16234296 0 16234296 9331682 9331682 25565978 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, 2014 FOR FEDERAL INCOME TAX, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2014. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE 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 $243,370 FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE $9,331,676 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 1188 9331676 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 HARLEY KNOWLES PRESIDENT 228872 0 0 0 0 0 0 0 16745 0 245617 0 0 0 A THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF MCMINN TENNESSEE 321150835 58235KAB6 2006-10-01 9500000 0 0 0 A 186662 9021020 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 OTHER MISC EXPENSES: PROGRAM SERVICE EXPENSES 39,317. MANAGEMENT AND GENERAL EXPENSES 199,087. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 238,404. DUES AND MEMBERSHIPS: PROGRAM SERVICE EXPENSES 134,913. MANAGEMENT AND GENERAL EXPENSES 96,084. FUNDRAISING EXPENSES 2,178. TOTAL EXPENSES 233,175. INSTITUTIONAL INSURANCE: PROGRAM SERVICE EXPENSES 188,803. MANAGEMENT AND GENERAL EXPENSES 31,485. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 220,288. MAINTENANCE AND REPAIRS: PROGRAM SERVICE EXPENSES 184,949. MANAGEMENT AND GENERAL EXPENSES 23,065. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 208,014. TUITION WAIVER: PROGRAM SERVICE EXPENSES 160,128. MANAGEMENT AND GENERAL EXPENSES 24,021. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 184,149. CAMPUS SAFETY: PROGRAM SERVICE EXPENSES 124,778. MANAGEMENT AND GENERAL EXPENSES 35,586. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 160,364. COPYING AND PRINTING EXPENSE: PROGRAM SERVICE EXPENSES 26,800. MANAGEMENT AND GENERAL EXPENSES 104,271. FUNDRAISING EXPENSES 2,321. TOTAL EXPENSES 133,392. ATHLETIC TOURNAMENT EXPENSES: PROGRAM SERVICE EXPENSES 83,470. MANAGEMENT AND GENERAL EXPENSES 27,823. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 111,293. EQUIPMENT: PROGRAM SERVICE EXPENSES 74,339. MANAGEMENT AND GENERAL EXPENSES 32,940. FUNDRAISING EXPENSES 3,714. TOTAL EXPENSES 110,993. TELEPHONE EXPENSE: PROGRAM SERVICE EXPENSES 4,944. MANAGEMENT AND GENERAL EXPENSES 100,592. FUNDRAISING EXPENSES 180. TOTAL EXPENSES 105,716. RESTRICTED EXPENDITURES: PROGRAM SERVICE EXPENSES 93,719. MANAGEMENT AND GENERAL EXPENSES 9,336. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 103,055. STUDENT ACTIVITY EXPENSE: PROGRAM SERVICE EXPENSES 76,221. MANAGEMENT AND GENERAL EXPENSES 23,918. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 100,139. STUDENT INSURANCE: PROGRAM SERVICE EXPENSES 69,473. MANAGEMENT AND GENERAL EXPENSES 23,158. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 92,631. OTHER ATHLETIC EXPENSES: PROGRAM SERVICE EXPENSES 69,423. MANAGEMENT AND GENERAL EXPENSES 23,141. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 92,564. POSTAGE: PROGRAM SERVICE EXPENSES 2,864. MANAGEMENT AND GENERAL EXPENSES 65,368. FUNDRAISING EXPENSES 22. TOTAL EXPENSES 68,254. LIBRARY EXPENSES: PROGRAM SERVICE EXPENSES 61,797. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,797. COST OF ACCRUED VACATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 51,901. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,901. BANK/CREDIT CARD FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 48,413. FUNDRAISING EXPENSES 340. TOTAL EXPENSES 48,753. RESIDENT LIFE EXPENSES: PROGRAM SERVICE EXPENSES 32,899. MANAGEMENT AND GENERAL EXPENSES 1,478. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 34,377. COMMENCEMENT EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 30,507. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 30,507. RECRUITMENT EXPENSE: PROGRAM SERVICE EXPENSES 21,854. MANAGEMENT AND GENERAL EXPENSES 5,926. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,780. INSTITUTIONAL ASSESSMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 23,362. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,362. ENTERTAINMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,480. FUNDRAISING EXPENSES 14,439. TOTAL EXPENSES 19,919. VEHICLE EXPENSES: PROGRAM SERVICE EXPENSES 15,273. MANAGEMENT AND GENERAL EXPENSES 4,433. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,706. NETWORKING EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,641. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,641. FACULTY DEVELOPMENT: PROGRAM SERVICE EXPENSES 17,325. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,325. HOMECOMING EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 15,235. TOTAL EXPENSES 15,235. CHOIR EXPENSES: PROGRAM SERVICE EXPENSES 12,558. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,558. FACULTY/STAFF MEALS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,748. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,748. ATHLETIC TEAM MEALS: PROGRAM SERVICE EXPENSES 4,058. MANAGEMENT AND GENERAL EXPENSES 1,353. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,411. MEDICAL SUPPLIES: PROGRAM SERVICE EXPENSES 2,670. MANAGEMENT AND GENERAL EXPENSES 890. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,560. PHONATHON EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 2,203. TOTAL EXPENSES 2,203. OTHER GRANT EXPENDITURES: PROGRAM SERVICE EXPENSES 2,029. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,029. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SWAP AGREEMENT 140,424. CHANGE IN VALUE OF PERKINS LOAN -1,172. CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 104,118. ROUNDING 8. 990 PART XII PAGE 12 LINE 2D THE OVERSIGHT PROCESS OR SELECTION PROCESS FOR THE FINANCIAL AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.