2013-11-05T06:52:44-06:00 2013-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2012-07-01 620476661 TENNESSEE WESLEYAN COLLEGE TENN 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 LARRY WALLACE 4237465208 2013-10-15 1 KIM HUSKEY CPA P00958962 4237567771 2013-10-15 2012 2015-11-30 17:44:51Z LARRY WALLACE 204 EAST COLLEGE STREET ATHENS TN 37303 24548325 0 X WWW.TWCNET.EDU X 1857 TN FOUR-YEAR LIBERAL ARTS COLLEGE 33 33 305 4 0 0 1446040 1062007 22113355 22913771 775286 134193 452799 438354 24787480 24548325 8687752 8842504 0 0 7066244 7718041 0 0 401304 7374157 7586900 23128153 24147445 1659327 400880 29188803 29139698 17351687 16341157 11837116 12798541 FOUR-YEAR LIBERAL ARTS COLLEGE 0 0 14181333 8842504 INSTRUCTIONAL - ENROLLED AND EDUCATED OVER 1,012 STUDENTS. 531352 ACADEMIC SUPPORT - INCLUDES THE FUNDS SPENT IN SUPPORT OF THE COLLEGE'S LIBRARY AND OTHER SIMILAR ACTIVITIES. 4910119 STUDENT SERVICES - INCLUDES THE FUNDS ASSOCIATED WITH THE SUPPORT OF THE COLLEGE'S STUDENTS ACADEMICS AND RELATED STUDENT ACTIVITIES. 23352125 23352125 19622804 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 17 0 1 305 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 33 33 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 CLAIRE W TUCKER 2.00 X 0 0 0 ALLEN F CARTER 2.00 X 0 0 0 MATTHEW BROOKSHIRE 2.00 X 0 0 0 BRYAN JACKSON 2.00 X 0 0 0 TOM REED 2.00 X 0 0 0 JIM WINER 2.00 X 0 0 0 DENNIE HUMPHREYS 2.00 X 0 0 0 KEITH ALTSHULER 2.00 X 0 0 0 MINTIE WILLSON 1.00 X 0 0 0 SHARON BROWN 1.00 X 0 0 0 ALLEN F CARTER 1.00 X 0 0 0 AILENE CHAMBERS 1.00 X 0 0 0 CARL E COLLOMS 1.00 X 0 0 0 ANGIE GREEN 1.00 X 0 0 0 LAURIE HALLENBERG 1.00 X 0 0 0 VANT HARDAWAY 1.00 X 0 0 0 DANNY HAYS 1.00 X 0 0 0 TENNA HORNSBY 1.00 X 0 0 0 LARRY MAULDIN 1.00 X 0 0 0 REGENIA MAYFIELD 1.00 X 0 0 0 DANIEL MOORE 1.00 X 0 0 0 PAUL OTTAVIANO 0.00 X 0 0 0 PATRICIA PURUSHOTHAM 0.00 X 0 0 0 HUGH QUEENER 0.00 X 0 0 0 JERRY SMITH 0.00 X 0 0 0 HUGH WALKER III 0.00 X 0 0 0 DONALD WEBB 0.00 X 0 0 0 MARY WILLIAMS 0.00 X 0 0 0 MARK WHITE 0.00 X 0 0 0 JO LUNDY 0.00 X 0 0 0 SHIRLEY WOODCOCK 0.00 X 0 0 0 LARRY KLEINMAN 0.00 X 0 0 0 DAN GILBERT 0.00 X 0 0 0 ASHLIE REAGAN 0.00 X 0 0 0 JOE GREEN 1.00 X 0 0 0 MARY TAYLOR 1.00 X 0 0 0 HARLEY KNOWLES 40.00 X 186278 0 15397 SUZANNE T HINE 40.00 X 77731 0 9916 LARRY WALLACE 40.00 X 71115 0 4144 STANLEY HARRISON 40.00 X 76889 0 9215 RANDY NELSON 40.00 X 67226 0 11142 479239 0 49814 2 0 1 0 ARAMARK CORP 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 1185770 NATIONAL MANGAMENT RESOURCES CORP PO BOX 1224 LA GRANGE GA 30241 MAINTENANCE 653555 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTIONS CENTER CHICAGO IL 60677 TEXTBOOK SERVICES 310239 MURRAY GUARD INC PO BOX 1000 MEMPHIS TN 37148 SECURITY SERVICES 113542 14 139451 922556 1062007 TUITION 624310 20426056 20426056 FOOD SERVICE 722210 1486919 1486919 RESIDENCE HALL 721310 906794 906794 BOOKSTORE 451211 53039 53039 CAMPS AND CONFERENCES 900099 40963 40963 22913771 133313 133313 880 0 880 880 880 FORT SANDERS NURSING SUPPLEMENT 611600 409650 409650 INSURANCE DIVIDENDS/REBATES 900099 104 104 28600 28600 438354 24548325 23352125 0 134193 8842504 8842504 6190343 4679252 1290920 220171 213720 157546 48795 7379 691515 512125 150984 28406 622463 450350 120501 51612 8197 8197 54754 54754 193458 193458 327871 230296 87848 9727 728192 728192 853322 728965 124357 CONTRACTED SERVICES 1939867 1631778 276788 31301 UTILITIES 616969 560117 56852 UNIFORMS AND OTHER SUPP 297208 180679 104925 11604 FACILITY FEES 258683 258641 42 2308379 1390551 876724 41104 24147445 19622804 4123337 401304 1300 1301 1759921 1815086 339994 330385 1115239 1058109 173904 132766 22782 24784 157442 160296 26740779 10893190 16005470 15847589 9475998 9635425 68603 68603 68150 65354 29188803 29139698 520274 570044 998497 960055 13017967 12611543 2814949 2199515 17351687 16341157 X 1655145 2732050 810001 652373 9371970 9414118 11837116 12798541 29188803 29139698 X 400880 -119356 679901 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9371970 140343 84427 -182622 9414118 9157986 223398 -9414 9371970 9210819 83595 -136428 9157986 8911085 249302 50432 9210819 8967093 48472 65984 34172 114402 21890 8911085 0 0 597191 597191 17474375 5770222 11704153 2365413 1071030 1294383 4982850 3065846 1917004 1320950 986092 334858 15847589 FEDERAL SHARE OF PERKINS LOAN PROGRAM 185052 AGENCY FUNDS 127785 SPLIT-INTEREST AGREEMENTS 87642 BOND INTEREST RATE SWAP 1799036 2199515 X 15586465 -119356 -119356 15705821 8842504 8842504 24548325 15304941 0 15304941 8842504 8842504 24147445 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2013 FOR FEDERAL INCOME TAX, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2013. 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 CHANGE IN VALUE OF SWAP AGREEMENT, PERKINS LOANS, AND SPLIT-INTEREST AGREEMENTS $679,901 FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE $8,842,504 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE COLLEGE MAINTAINS AN INSTITUTION THAT IS RACIALLY NONDISCRIMINATORY. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE 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 1012 8842504 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 HARLEY KNOWLES 186278 0 0 0 0 0 0 0 15397 0 201675 0 0 0 A THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF MCMINN TENNESSEE 321150835 58235KAB6 2006-10-01 9500000 0 0 0 A 175468 9207682 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SWAP AGREEMENT 600,259. CHANGE IN VALUE OF PERKINS LOAN 175. CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 79,467. ROUNDING 990 PART XII PAGE 12 LINE 2D THE OVERSIGHT PROCESS OR SELECTION PROCESS FOR THE FINANCIAL AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.