KING UNIVERSITY: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- KING UNIVERSITY (EIN 58-1363100)
- Tax period
- 2011-06-01 to 2012-05-31
- Filed
- 2013-01-15
- IRS object ID
- 201300159349301530
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-01-15T16:09:50-06:00 | Timestamp |
| Tax Period End Date | 2012-05-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 620647474 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BLACKBURN CHILDERS & STEAGALL PLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1361 S WILCOX DRIVE | AddressLine1 |
| City | KINGSPORT | City |
| State | TN | State |
| ZIP Code | 37660 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-06-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 581363100 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KING COLLEGE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | KING | NameControl |
| Phone | 4236524718 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1350 KING COLLEGE ROAD | AddressLine1 |
| City | BRISTOL | City |
| State | TN | State |
| ZIP Code | 37620 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JAMES P DONAHUE | Name |
| Title | VP FOR BUSINESS OPERATIONS/CFO | Title |
| Phone | 4236526002 | Phone |
| Date Signed | 2013-01-15 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CHAD KISNER | Name |
| PTIN | P00738241 | PTIN |
| Phone | 4232461725 | Phone |
| Date Prepared | 2013-01-10 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JAMES P DONAHUE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1350 KING COLLEGE ROAD | AddressLine1 |
| City | BRISTOL | City |
| State | TN | State |
| ZIP Code | 37620 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 37922073 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.KING.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1867 | YearFormation |
| State Legal Domicile | TN | StateLegalDomicile |
| Activity Or Mission Description | OPERATION AND MAINTENANCE OF AN INSTITUTION OF HIGHER LEARNING. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 30 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 30 | NbrIndependentVotingMembers |
| Total Nbr Employees | 678 | TotalNbrEmployees |
| Total Nbr Volunteers | 50 | TotalNbrVolunteers |
| Total Gross UBI | 23647 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1753841 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 1267180 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 32512127 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 35937039 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1621450 | InvestmentIncomePriorYear |
| Investment Income Current Year | 357656 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 18646 | OtherRevenuePriorYear |
| Other Revenue Current Year | 360198 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 35906064 | TotalRevenuePriorYear |
| Total Revenue Current Year | 37922073 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 12566639 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 12499662 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 858109 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 895051 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 558385 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 22007040 | OtherExpensePriorYear |
| Other Expenses Current Year | 23959774 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 35431788 | TotalExpensesPriorYear |
| Total Expenses Current Year | 37354487 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 474276 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 567586 | RevenuesLessExpensesCY |
| Total Assets BOY | 60031181 | TotalAssetsBOY |
| Total Assets EOY | 60040014 | TotalAssetsEOY |
| Total Liabilities BOY | 10315554 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 10503501 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 49715627 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 49536513 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO EDUCATE STUDENTS IN AN ACADEMICALLY RIGOROUS AND COLLEGEIATE SETTING THAT INTEGRATES CHRISTIAN FAITH, SCHOLARSHIP, SERVICE AND CAREER, LEADING TO MEANINGFUL LIVES OF ACHIEVEMENT AND CULTURAL TRANSFORMATION IN CHRIST. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 30101177 | Expense |
| Grants | 12499662 | Grants |
| Revenue | 35471868 | Revenue |
| Description | OPERATION AND MAINTENANCE OF AN INSTITUTION OF HIGHER LEARNING. | Description |
| Total Program Service Expense | 30101177 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 66 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 678 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 1 | ForeignFinancialAccount |
| Name Of Foreign Country | CJ | NameOfForeignCountry |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Number Of8282 Filed | 0 | NumberOf8282Filed |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 30 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 30 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | TN | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LETTIE T JACKSON | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4236524719 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | KING COLLEGE BUSINESS OFFICE 1350 | AddressLine1 |
| City | BRISTOL | City |
| State | TN | State |
| ZIP Code | 37620 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (37 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| WILLIAM G ADAMS | ||||||
| CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 |
| LOIS A CLARKE | ||||||
| VICE-CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 |
| DR JON HARR | ||||||
| SECRETARY | 1.00 | X | X | 0 | 0 | 0 |
| JAMES P DONAHUE | ||||||
| TREASURER | 1.00 | X | X | 0 | 0 | 0 |
| WILLIAM C ARGABRITE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR WILLIAM T BRYANT | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| E NEAL CALDWELL | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DAVID L COFFEY | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DAVID A FLANIGAN JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| BEN M FRIZZELL JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ALBERT L GAYLE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| FRANK D GLASSCOCK | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JEFFERSON J GREGORY | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ROBERT C HART | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR WILLIAM D HEIZER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| THEODORE M HUTCHESON JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| SCOTT JACKSON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR THOMAS LEWIS | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR J MILLER LISTON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ROBERT H MACLELLAN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ALDEN M MAIER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MARCIA PORTER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DR RICHARD A RAY | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MARK D RYAN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| KNOX H SHERER | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JOHN F SHOULDERS JR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| GERRY U STEPHENS | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JUDY F STONE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| FREDERICK B TAYLOR | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JAMES F VAN DYKE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| TARIQ ZAIDI | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| HUGH O MACLELLAN JR | ||||||
| TRUSTEE EMERITUS | 1.00 | X | 0 | 0 | 0 | |
| DR GREGORY D JORDAN | ||||||
| PRESIDENT | 50.00 | X | 298003 | 0 | 28501 | |
| JAMES P DONAHUE | ||||||
| VP FOR BUSINESS OPERATIONS/CFO | 50.00 | X | 122837 | 0 | 24486 | |
| PAUL M PERCY | ||||||
| VP FOR ACADEMIC AFFAIRS | 50.00 | X | 124997 | 0 | 23491 | |
| LEANN HUGHES | ||||||
| VP FOR MARKETING/DEVELOPME | 50.00 | X | 89986 | 0 | 18049 | |
| ROBERT A LITTLETON | ||||||
| VP FOR STUDENT AFFAIRS | 50.00 | X | 80280 | 0 | 22049 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 716103 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 116576 | TotalOtherCompensation |
| Number Individuals GT100 K | 3 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ARAMARK CORPORATION CAMPUS SVCS | |||||
| 1350 KING COLLEGE ROAD | BRISTOL | TN | 37620 | CAFETERIA VENDOR | 1325945 |
| ACS BENEFIT SERVICES | |||||
| 8025 NORTH POINT BOULEVARD SUITE 1 | WINSTONSALEM | NC | 27106 | EMPLOYEE BENEFITS ADMINISTRATOR | 310904 |
| PEARCE ADMINISTRATION | |||||
| P O BOX 71326 | PHILADELPHIA | PA | 191761326 | INSURANCE SERVICES-STUDENT INSURANCE | 278603 |
| FIRST AMERICAN EQUIPMENT FINANCE | |||||
| P O BOX 3202 | CAROL STREAM | IL | 601323202 | LEASING LAPTOPS | 252975 |
| EDUCATIONAL & INSTITUTIONAL INS ADMINIST | |||||
| 200 SOUTH WACKER DRIVE SUITE 1000 | CHICAGO | IL | 60606 | INSURANCE SERVICES-PROPERTY AND CASUALTY | 205886 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 11 | NumberOfContractorsGT100K |
| All Other Contributions | 1267180 | AllOtherContributions |
| Noncash Contributions | 44994 | NoncashContributions |
| Total Contributions | 1267180 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | ExclusionExclusionAmount |
|---|---|---|---|---|
| TUITION AND FEES | 611710 | 32094297 | 32094297 | |
| AUXILIARY ENTERPRISES | 611710 | 3041020 | 3041020 | |
| OTHER INCOME | 611710 | 801722 | $801,722 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 35937039 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 357656 | TotalRevenueColumn |
| Exclusion | $357,656 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 23647 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 23647 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 23647 | TotalRevenueColumn |
| Unrelated Business Revenue | 23647 | UnrelatedBusinessRevenue |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | GAINS FROM INSURANCE P | Description |
| Business Code | 611710 | BusinessCode |
| Total Revenue Column | 336551 | TotalRevenueColumn |
| Related Or Exempt Function Income | 336551 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 336551 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 37922073 | TotalRevenueColumn |
| Related Or Exempt Function Income | 35471868 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 23647 | UnrelatedBusinessRevenue |
| Exclusion | $1,159,378 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12499662 | Total |
| Program Services | 12499662 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 895051 | Total |
| Program Services | 302257 | ProgramServices |
| Management And General | 592794 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 995310 | Total |
| Program Services | 704879 | ProgramServices |
| Management And General | 268037 | ManagementAndGeneral |
| Fundraising | 22394 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100235 | Total |
| Management And General | 100235 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 871097 | Total |
| Management And General | 871097 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| INSTRUCTION | 9194267 | 9194267 | |
| STUDENT SERVICES | 5309143 | 5309143 | |
| INSTITUTIONAL SUPPORT | 4484975 | 4484975 | |
| AUXILIARY ENTERPRISES | 1530554 | 1530554 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1474193 | Total |
| Program Services | 560415 | ProgramServices |
| Management And General | 377787 | ManagementAndGeneral |
| Fundraising | 535991 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37354487 | Total |
| Program Services | 30101177 | ProgramServices |
| Management And General | 6694925 | ManagementAndGeneral |
| Fundraising | 558385 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1465569 | BOY |
| EOY | 1582475 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2092133 | BOY |
| EOY | 1322967 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1332307 | BOY |
| EOY | 1497112 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1760845 | BOY |
| EOY | 1651108 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 142594 | BOY |
| EOY | 120957 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111065 | BOY |
| EOY | 165664 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 37944347 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 19283410 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18737054 | BOY |
| EOY | 18660937 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 26530913 | BOY |
| EOY | 27348479 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7858701 | BOY |
| EOY | 7690315 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60031181 | BOY |
| EOY | 60040014 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1336648 | BOY |
| EOY | 1364499 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3449583 | BOY |
| EOY | 3113585 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2931340 | BOY |
| EOY | 3515074 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2597983 | BOY |
| EOY | 2510343 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10315554 | BOY |
| EOY | 10503501 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15280409 | BOY |
| EOY | 14582398 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3401635 | BOY |
| EOY | 3895166 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 31033583 | BOY |
| EOY | 31058949 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 49715627 | BOY |
| EOY | 49536513 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60031181 | BOY |
| EOY | 60040014 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 567586 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -746700 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 30467315 | BeginningOfYearBalance |
| Contributions | 84513 | Contributions |
| Investment Earnings Or Losses | 507121 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 0 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 31058949 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 26472467 | BeginningOfYearBalance |
| Contributions | 213707 | Contributions |
| Investment Earnings Or Losses | 3781141 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 0 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 30467315 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 24122502 | BeginningOfYearBalance |
| Contributions | 90739 | Contributions |
| Investment Earnings Or Losses | 2382941 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | -123715 | GrantsOrScholarships |
| Other Expenditures | 0 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 26472467 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 30654515 | BeginningOfYearBalance |
| Contributions | 167508 | Contributions |
| Investment Earnings Or Losses | -6699521 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 0 | GrantsOrScholarships |
| Other Expenditures | 0 | OtherExpenditures |
| Administrative Expenses | 0 | AdministrativeExpenses |
| End Of Year Balance | 24122502 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.00000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 1.00000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.00000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 221575 | OtherCostOrOtherBasis |
| Book Value | 221575 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 25409176 | OtherCostOrOtherBasis |
| Depreciation | 10348699 | Depreciation |
| Book Value | 15060477 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4689696 | OtherCostOrOtherBasis |
| Depreciation | 4181409 | Depreciation |
| Book Value | 508287 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7623900 | OtherCostOrOtherBasis |
| Depreciation | 4753302 | Depreciation |
| Book Value | 2870598 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 18660937 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (4 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| INVESTMENT IN ARTWORK AND BOOKS | 4820081 | F |
| INTEREST IN PERPETUAL TRUSTS HELD BY THIRD PARTIES | 988886 | F |
| ASSETS HELD IN CHARITABLE REMAINDER UNITRUSTS | 1422798 | F |
| INVESTMENT IN REAL ESTATE | 458550 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 7690315 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (6 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DEPOSITS HELD IN CUSTODY FOR OTHERS | $405,146 |
| OTHER ACCRUED LIABILITIES AND PAYABLES | $454,501 |
| UNREDEEMED BONDS, COUPONS | $31,650 |
| CAPITAL LEASE | $79,351 |
| LIABILITY UNDER UNITRUST AGREEMENTS | $511,213 |
| U.S. GOVERNMENT LOAN FUNDS REFUNDABLE | $1,028,482 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 2510343 | TotalOfAmounts |
| Total Revenue | 37922073 | TotalRevenue |
| Total Expenses | 37354487 | TotalExpenses |
| Excess Or Deficit For Year | 567586 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -574314 | NetUnrealizedGLOnInvestments |
| Other | -$172,386 | OtherAmount |
| Total Adjustments | -746700 | TotalAdjustments |
| Excess Or Deficit Per FS | -179114 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 24675711 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -574314 | NetUnrealizedGainsInvestments |
| Other Revenues | -172386 | OtherRevenues |
| Revenue Not Rptd F990 | -746700 | RevenueNotRptdF990 |
| Revenue Subtotal | 25422411 | RevenueSubtotal |
| Other Revenues Not Included | 12499662 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 12499662 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 37922073 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 24854825 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 24854825 | ExpensesSubtotal |
| Other Expenses Not Included | 12499662 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 12499662 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 37354487 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (5 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | NOTE 15 - UNCERTAINTY IN INCOME TAXES THE COLLEGE FOLLOWS THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. AS OF MAY 31, 2012, THE COLLEGE HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE COLLEGE'S FINANCIAL STATEMENTS. THE COLLEGE'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE FINANCIAL STATEMENTS. HOWEVER, NO INTEREST OR PENALTIES WERE RECORDED DURING THE YEAR ENDED MAY 31, 2012. GENERALLY, THE TAX YEARS BEFORE 2009 ARE NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | GAINS (LOSSES) ON BENEFICIAL INTEREST IN PERPETUAL TRUST -16,666. CHANGES IN ACTUARIAL UNITRUST ASSUMPTIONS -155,720. TOTAL TO SCHEDULE D, PART XI, LINE 8: -172,386. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | GAIN (LOSS) ON BENEFICIAL INTEREST IN PERPETUAL TRUSTS HELD BY THIRD PARTIES -16,666. CHANGES IN ACTUARIAL UNITRUST ASSUMPTIONS -155,720. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID DISCOUNTS 12,499,662. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID DISCOUNTS 12,499,662. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 1 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | THE POLICY IS STATED ON ALL OF KING COLLEGE'S PRINTED MATERIALS, BROCHURES, AND ONLINE. |
| EXPLANATION OF RACIAL DISCRIMINATION | SCHEDULE E, PART I, LINE 5 | THERE IS ONE INSTITUTIONAL SCHOLARSHIP BASED ON RACE, WHICH IS THE MARTIN LUTHER KING SCHOLARSHIP, WHICH MUST BE AWARDED TO AN AFRICAN-AMERICAN. |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | KING COLLEGE RECEIVES FINANCIAL ASSSITANCE FROM TWO GOVERNMENTAL AGENCIES - THE UNITED STATES DEPARTMENT OF EDUCATION AND THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES. KING COLLEGE PARTICIPATES IN THE TITLE IV STUDENT FINANCIAL AID PROGRAMS. THE COLLEGE HAS RECEIVED A RESEARCH GRANT FROM THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | THE COLLEGE AWARDED FINANCIAL AID TOTALING $12,499,622 FOR STUDENTS ATTENDING KING COLLEGE, WHOSE MAIN CAMPUS IS IN SULLIVAN COUNTY, TENNESSEE. | TypeOfGrant |
| Number Of Recipients | 1579 | NumberOfRecipients |
| Amount Of Cash Grant | 12499662 | AmountOfCashGrant |
| Amount Of Non Cash Assistance | 0 | AmountOfNonCashAssistance |
| Method Of Valuation | N/A | MethodOfValuation |
| Description Of Non Cash Assistance | N/A | DescriptionOfNonCashAssistance |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE COLLEGE DOES NOT GIVE ANY NON-CASH SCHOLARSHIPS. SCHOLARSHIPS ARE DISBURSED TO STUDENTS THROUGH CREDITING THEIR STUDENT ACCOUNTS. IF THE STUDENT HAS EXCESS SCHOLARSHIP FUNDS AS THE RESULT OF TITLE IV AID, THEN THESE FUNDS ARE AUTOMATICALLY DISBURSED TO THE STUDENT BY CHECK WITHIN 14 DAYS. IF THE EXCESS FUNDS ARE THE RESULT OF SOMETHING OTHER THAN TITLE IV AID, THE STUDENT MUST REQUEST A REFUND AND THESE FUNDS ARE DISBURSED TO THE STUDENT BY CHECK. THE COLLEGE'S PROCEDURES FOR MONITORING GRANT FUNDS IN THE U. S. ARE AS FOLLOWS: THE COLLEGE HAS APPOINTED DIRECTORS, WHO REPORT TO THE APPROPRIATE VICE PRESIDENTS, OVER ALL FEDERAL GRANT PROGRAMS. THESE DIRECTORS ARE CHARGED WITH PERFORMING ALL GRANT-RELATED ACTIVITIES INCLUDING APPLICATION, MONITORING OF EXPENDITURES AND REPORTING, WITH THE EXCEPTION OF DRAW-DOWNS OF FEDERAL FUNDS. DRAW-DOWNS ARE PERFORMED BY THE COLLEGE'S CONTROLLER AFTER REQUESTS ARE MADE BY THE DIRECTOR TO THE CONTROLLER. THE CONTROLLER REVIEWS THE REQUESTS FOR DRAW-DOWNS, WHICH INCLUDE DOCUMENTATION OF ALL DIRECT AND INDIRECT PROGRAM EXPENSES, BEFORE MAKING THE DRAW-DOWNS. A SINGLE AUDIT IS PERFORMED ANNUALLY BY THE COLLEGE'S INDEPENDENT AUDITORS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 0 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | DR GREGORY D JORDAN | NamePerson |
| Base Compensation Filing Org | 298003 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 0 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 0 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 15000 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 13501 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 326504 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Form990 Schedule J Part III Form990ScheduleJPartIII (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | THE COLLEGE PAYS CLUB DUES AT THE COUNTRY CLUB OF BRISTOL, THE VIRGINIAN, AND THE OLDE FARM FOR GREGORY D. JORDAN, THE PRESIDENT OF THE COLLEGE. THE COLLEGE PAYS CLUB DUES AT THE COUNTRY CLUB OF BRISTOL FOR LEANN HUGHES, THE VICE-PRESIDENT FOR MARKETING/DEVELOPMENT. |
| PART I, LINE 1B | NO FORMAL POLICY EXISTS. HOWEVER, INVOICES ARE REQUIRED BEFORE PAYMENTS ARE MADE. |
| N/A | |
| PART I, LINE 5 | N/A |
| PART I, LINE 6 | N/A |
| PART I, LINE 7 | N/A |
| PART I, LINE 8 | N/A |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 4 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 44994 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | AVG PRICE FOR DAY | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | LOIS A CLARKE, TRUSTEE, IS THE MOTHER OF FRANK D. GLASSCOCK, TRUSTEE. | |
| FORM 990, PART VI, SECTION B, LINE 11 | A COMPLETE COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE IRS, WAS PROVIDED TO EACH PERSON WHO WAS A VOTING MEMBER OF THE GOVERNING BODY AT THE TIME THE FORM 990 WAS PROVIDED, WHETHER IN PAPER OR ELECTRONIC FORM, BEFORE ITS FILING WITH THE IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CHIEF FINANCIAL OFFICER EVALUATES ALL CONTRACTS AND MAJOR TRANSACTIONS TO ENSURE POLICY IS FOLLOWED. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES MEETS ANNUALLY TO DISCUSS AND EVALUATE THE PRESIDENT'S PERFORMANCE. THEY SET AN INCREASE IF THERE IS ONE. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -574,314. GAINS (LOSSES) ON BENEFICIAL INTEREST IN PERPETUAL TRUST -16,666. CHANGES IN ACTUARIAL UNITRUST ASSUMPTIONS -155,720. TOTAL TO FORM 990, PART XI, LINE 5: -746,700. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C | THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT, AND THIS HAS NOT CHANGED FROM THE PRIOR YEAR. | OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT AUDITOR |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ACADEMY AT KING | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5825 OLD JONESBORO ROAD | AddressLine1 |
| City | BRISTOL | City |
| State | TN | State |
| ZIP Code | 37620 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364645221 | EIN |
| Primary Activities | OPERATION OF PRIVATE HIGH SCHOOL | PrimaryActivities |
| Legal Domicile State | TN | LegalDomicileState |
| Exempt Code Section | 501(C)(3) | ExemptCodeSection |
| Public Charity Status | LINE 2 | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 1 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ACADEMY AT KING | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | D | TransactionType |
| Amount Involved | 1500000 | AmountInvolved |
| Method Of Amt Determination | NOTE PAYABLE | MethodOfAmtDetermination |
Form990 Schedule R Part VII Form990ScheduleRPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | LOAN GUARANTEE FOR THE ACADEMY AT KING | Identifier |
| Return Reference | PART V, LINE 1D | ReturnReference |
| Explanation | THE COLLEGE CREATED THE ACADEMY AT KING (THE ACADEMY) DURING THE YEAR ENDED MAY 31, 2008. THE ACADEMY WAS SEPARATED FROM THE COLLEGE DURING THE YEAR ENDED MAY 31, 2010, AS THE COLLEGE NO LONGER WAS CONSIDERED TO HAVE CONTROLLING MEMBERSHIP IN THE BOARD OF THE ACADEMY. HOWEVER, THE COLLEGE IS LEASING LAND TO THE ACADEMY FOR $1 PER YEAR. THE ACADEMY HAS ISSUED DEBT TO CONSTRUCT A FACILITY ON THE LAND THAT IS LEASED FROM THE COLLEGE. THE COLLEGE IS ACTING AS A GUARANTOR OF THE ACADEMY'S DEBT. IF THE ACADEMY FAILS TO PAY THE DEBT, THE COLLEGE WILL ASSUME THE DEBT AND THE RELATED ASSET. SPECIFICALLY, THE ACADEMY HAS A NOTE FOR $1,750,000, WHICH HAS SCHEDULED MATURITIES THROUGH MAY 31, 2014, WHICH THE COLLEGE IS GUARANTEEING. AT MAY 31, 2012, THE BALANCE OF THE ACADEMY'S NOTE IS $1,500,000. | Explanation |
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