2013-12-03T08:49:07-06:00 2013-05-31 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2012-06-01 566049935 WINGATE UNIVERSITY WING 7042338000 PO BOX 159 WINGATE NC 28174 WILLIAM H DURHAM 7042338000 2013-11-15 1 ADRIENNE MCKINNEY P00819656 3362724551 2012 2015-11-30 17:44:51Z DR JERRY E MCGEE PO BOX 159 WINGATE NC 28174 130571359 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 51 51 1364 0 -351001 -351000 27116769 4792986 61403750 67539596 2302740 2205623 1855480 1698705 92678739 76236910 22418427 23392849 0 0 26184806 29024980 0 0 1013267 19881330 20356278 68484563 72774107 24194176 3462803 131108432 135815115 29281798 26107969 101826634 109707146 THE MISSION OF WINGATE UNIVERSITY IS TO DEVELOP EDUCATED, ETHICAL, AND PRODUCTIVE CITIZENS AT HOME AND ABROAD. FOLLOWING ITS JUDEO-CHRISTIAN HERITAGE, THE UNIVERSITY SEEKS TO CULTIVATE THE FOLLOWING IN ITS STUDENTS: KNOWLEDGE, FAITH, AND SERVICE. 0 0 58330053 23392849 69555667 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, MATTHEWS, AND HENDERSONVILLE, NC. THE UNIVERSITY OFFERS 34 UNDERGRADUATE MAJORS, 36 MINORS AND CAREER CONCENTRATIONS, NUMEROUS PRE-PROFESSIONAL PROGRAMS, GRADUATE DEGREES IN BUSINESS, ACCOUNTING, EDUCATION, PHYSICIAN ASSISTANT STUDIES AND SPORT ADMINISTRATION, AND DOCTORATES IN PHARMACY AND EDUCATION. DURING THE FISCAL YEAR ENDED MAY 31, 2013, FALL STUDENT ENROLLMENT WAS 2,648 AND SPRING STUDENT ENROLLMENT WAS 2,486. THE TOTAL NUMBER OF GRADUATES WAS 415. FINANCIAL AID WAS RECEIVED BY 2,477 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 1,902 STUDENTS. 58330053 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 1 141 0 1 1364 1 1 1 0 0 0 0 0 0 0 0 0 X 51 51 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X WILLIAM H DURHAM 7042338000 PO BOX 159 WINGATE NC 28174 CALEB H BARNHARDT 0.50 X 0 0 0 EVELYN W BINGHAM 0.50 X 0 0 0 DR RUSSELL W BOOKER 0.50 X 0 0 0 GEORGE C BOWER JR 0.50 X 0 0 0 REBECCA BULLARD 0.50 X X 0 0 0 PORTER B BYRUM 0.50 X 0 0 0 G FRANK CAGLE 0.50 X 0 0 0 LARRY W CARROLL 0.50 X 0 0 0 ARNOLD J CULBERTH JR 0.10 X 0 0 0 DANNY DAVIS 0.50 X 0 0 0 CC DICKSON JR 0.50 X 0 0 0 J EDWIN DREW 0.50 X 0 0 0 ELONA L EDWARDS 0.50 X 0 0 0 JIM FURMAN 0.50 X 0 0 0 MEREDITH O GALVIN 0.50 X 0 0 0 HENRY GAYE 0.50 X 0 0 0 AGNES B GOLDSTON 0.50 X 0 0 0 H CLARK GOODWIN 0.50 X 0 0 0 WILLIAM F HARRIS 0.50 X 0 0 0 WILLIAM H HELMS 0.50 X 0 0 0 CLIFFORD E HEMINGWAY JR 0.50 X 0 0 0 DON HILL 0.50 X 0 0 0 CHARLES HOWARD 0.50 X 0 0 0 JOSEPH C HUNTER 0.50 X 0 0 0 THOMAS J KEAN 0.50 X 0 0 0 H JOE KING JR 0.50 X 0 0 0 JOHN A KING II 0.50 X 0 0 0 THOMAS J KOONTZ MD 0.50 X 0 0 0 JACK C LAIL 0.50 X 0 0 0 LAZELLE MARKS 0.50 X 0 0 0 JAMES MASON 0.50 X 0 0 0 WILLIAM MAST 0.50 X 0 0 0 DURAN G MCDONALD 0.50 X 0 0 0 LUTHER T MOORE 0.50 X X 0 0 0 JOSEPH H PATTERSON 0.50 X X 0 0 0 PATRICK PHILMON 0.50 X 0 0 0 B PARTHENIA RICHARDSON 0.50 X 0 0 0 CLAUDIA S ROBINETTE 0.50 X 0 0 0 JIMMY K STEGALL 0.50 X 0 0 0 WH SWAN 0.50 X 0 0 0 DONALD C TAFT 0.50 X 0 0 0 EVELYN V TAYLOR 0.50 X 0 0 0 JOHNNY TILLETT 0.50 X 0 0 0 DEIDRE VICK 0.50 X 0 0 0 JARVIS A WARREN 0.50 X 0 0 0 WP WATSON 0.50 X 0 0 0 SAMUEL K WELBORN JR 0.50 X 0 0 0 EDWARD L WEST 0.50 X 0 0 0 THOMAS E WILLIAMS 0.50 X X 0 0 0 C THOMAS WILSON 0.50 X 0 0 0 JAMES C WILSON JR 0.50 X 0 0 0 DR MARTHA S ASTI 40.00 X 122995 0 16083 T RHETT BROWN 40.00 X 124515 0 16083 WILLIAM H DURHAM 40.00 X 146867 0 16083 DR JERRY E MCGEE 40.00 X 496237 0 5181 ROBERT STEPHEN POSTON 40.00 X 108512 0 6165 ROBERT B SUPERNAW 40.00 X 233951 0 16083 VINCENT TILSON 40.00 X 122937 0 5181 GREGORY ALSTON 40.00 X 122309 0 16083 CAROLYN FORD 40.00 X 134873 0 5181 TRACY S HUNTER 40.00 X 139144 0 19983 SAMIR A KOUZI 40.00 X 122309 0 16083 MICHAEL L MANOLAKIS 40.00 X 117579 0 21083 1992228 0 159272 25 0 1 0 CM BLACK CONSTRUCTION CO 797 DAVIDSON DRIVE NE CONCORD NC 28025 CONSTRUCTION 7444714 ARAMARK SERVICES INC PO BOX 198532 ATLANTA GA 30384 FOOD SERVICE 3382402 HINSON ELECTRIC INC 2200 STAFFORD ST EXT MONROE NC 28110 ELECTRICAL WIRING 470674 CAROLINA GREEN 10108 INDIAN TRAIL FAIRVIEW RD INDIAN TRAIL NC 28079 TRACK FIELD TO TURF 465651 CAROLINA COURTWORKS 724 MONTANA DRIVE CHARLOTTE NC 28216 TENNIS COURTS 453175 17 156890 4636096 198108 4792986 TUITION AND FEES 611310 53675418 53675418 HOUSING 611310 12584292 12584292 BOOKSTORE REVENUE 611310 1189402 1189402 FOOD SERVICE REVENUE 611310 90484 90484 67539596 1478942 1478942 54450 0 54450 54450 54450 54870684 156726 54093204 207525 777480 -50799 726681 726681 12905 156890 33720 -20815 -20815 ATHLETIC INCOME 611310 86093 86093 VEHICLE INCOME 611310 20700 20700 CAMPS & CONFERENCES 713940 -351001 -351001 1909278 1909278 1665070 76236910 69555667 -351001 2239258 23392849 23392849 1356014 589973 643104 122937 21537804 18305465 2828690 403649 1120443 896354 179271 44818 3405274 2724219 544844 136211 1605445 1284356 256871 64218 45686 45686 76600 76600 181443 181443 392639 392639 1886735 958054 928681 1149021 1041326 60113 47582 484724 484724 3878240 3878240 204313 204313 OTHER 4653237 3841111 618274 193852 FOOD SERVICE 2699910 2699910 PLANT ADMINISTRATION 1522836 1522836 GRADUATE AND PROFESSION 1398708 1398708 1782186 1197728 584458 72774107 58330053 13430787 1013267 1209011 -33732 10892314 8087700 6441229 4715877 774128 956765 566775 526125 224663 341414 121121387 44562194 68951458 76559193 39868016 42635184 1480521 1283646 700317 742943 131108432 135815115 3810792 3029565 11770000 2150779 3075930 9830000 18472833 1720227 1529641 29281798 26107969 X 72232681 77078342 8999692 10962103 20594261 21666701 101826634 109707146 131108432 135815115 X 3462803 4094970 322739 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 38307472 1033670 5673976 986075 92551 43936492 28471495 11311161 -660306 733930 80948 38307472 24710442 394151 3977544 524020 86622 28471495 22403555 397046 2733416 823575 24710442 30823082 598431 -7157882 1860076 22403555 0.38870 0.10740 0.50390 0 0 14413 3924374 3938787 95251058 30397537 64853521 281509 204084 77425 18277026 13294671 4982355 3373007 665902 2707105 76559193 CAPITAL LEASE OBLIGATIONS 738490 INTEREST RATE SWAP AGREEMENT 791151 1529641 X 57925585 4094970 -23023473 -18928503 76854088 181443 -798621 -617178 76236910 49998436 798621 798621 49199815 181443 23392849 23574292 72774107 PART IV, LINE 2B: CUSTODIAL ACCOUNT RESPONSIBILITY ON LINE 21 RELATES TO STUDENT AND STUDENT ORGANIZATION DEPOSITS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED AS DIRECTED BY DONOR STIPULATION AND APPLICABLE LAWS. THESE RESOURCES FUND SCHOLARSHIPS AND GRANTS, PLANT FACILITIES, AND OTHER PROGRAMS AND INITIATIVES THAT FURTHER THE VISION AND MISSION OF THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("FASB ASC"). PART XI, LINE 2D - OTHER ADJUSTMENTS: WINGATE UNIVERSITY FOUNDATION REVENUES INCLUDED IN CONSOLIDATION 46,637. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 135,599. RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS -23,392,849. GAIN ON INTEREST RATE SWAP AGREEMENTS 187,140. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES -33,720. RECLASSIFICATION OF UBI EXPENSES -764,901. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES 33,720. RECLASSIFICATION OF UBI EXPENSES 764,901. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS 23,392,849. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 TO FURTHER EDUCATIONAL MISSIONS, WINGATE UNIVERSITY RECEIVES FINANCIAL AID AND ASSISTANCE FROM VARIOUS FEDERAL AND STATE PROGRAMS IN SUPPORT OF ITS STUDENTS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - 64 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 238615 CENTRAL AMERICA AND THE CARIBBEAN - 16 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 23930 SOUTH AMERICA 57 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 133780 EAST ASIA AND THE PACIFIC 51 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 111376 NORTH AMERICA 17 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 5192 0 205 0 0 0 205 512893 0 512893 CASH GRANT EUROPE (INCLUDING ICELAND & GREENLAND) - 3 7500 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION CASH GRANT CENTRAL AMERICA AND THE CARIBBEAN - 7 15500 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION CASH GRANT EAST ASIA AND THE PACIFIC - 1 2250 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: ELIGIBILITY FOR STUDY ABROAD SCHOLARSHIPS AND GRANTS IS DETERMINED EACH SEMESTER BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND ACADEMIC STANDING. THE FINANCIAL PLANNING DEPARTMENT AND TRAVEL COMMITTEE VERIFY SATISFACTORY ACADEMIC PROGRESS AND DETERMINE NEED BEFORE SCHOLARSHIPS AND GRANTS ARE DISTRIBUTED. METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: COST OF PROGRAM EXPLANATION FOR ESTIMATED NUMBER OF RECIPIENTS: SCHEDULE F, PART III, COL (C): THE NUMBER OF RECIPIENTS IS BASED ON ACTUAL DOCUMENTATION, NOT ESTIMATES. X X X X X X DAY FOR WINGATE 117190 117190 5499 GOLF TOURNAMENT 52605 39700 12905 4526 15400 8295 169795 156890 12905 4526 15400 13794 33720 -20815 1 ENDOWED SCHOLARSHIPS 797 810790 RESTRICTED ANNUAL SCHOLARSHIPS 38 358483 STATE GRANTS 81 217227 ATHLETIC SCHOLARSHIPS 348 2799508 CHURCH RELATED SCHOLARSHIPS 22 17688 ACADEMIC SCHOLARSHIPS 1839 18144461 NEED BASED SCHOLARSHIPS 486 1044692 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ELIGIBILITY FOR NEED-BASED SCHOLARSHIPS AND GRANTS IS DETERMINED ANNUALLY BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). ACADEMIC SCHOLARSHIPS ARE AWARDED UPON ENROLLMENT AND ELIGIBILITY IS FOR THE EIGHT SEMESTERS. AT THE END OF EACH SEMESTER, THE FINANCIAL PLANNING DEPARTMENT VERIFIES SATISFACTORY ACADEMIC PROGRESS HAS BEEN MAINTAINED IN ORDER TO DETERMINE CONTINUATION OF ALL SCHOLARSHIPS. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 WILLIAM H DURHAM 124771 0 9500 0 12596 0 0 0 16083 0 162950 0 0 0 DR JERRY E MCGEE 323452 0 125000 0 47785 0 0 0 5181 0 501418 0 0 0 ROBERT B SUPERNAW 223201 0 9500 0 1250 0 0 0 16083 0 250034 0 0 0 TRACY S HUNTER 138169 0 0 0 975 0 0 0 19983 0 159127 0 0 0 PART I, LINE 1A DR. JERRY E. MCGEE, PRESIDENT, HAS A HOUSING ALLOWANCE OF $43,800 INCLUDED IN HIS REPORTABLE COMPENSATION. DAVIS FURNITURE OWNER DANNY DAVIS IS UNIVERSITY TRUSTEE 155466 PUCHASE OF FURNITURE IN NORMAL COURSE OF BUSINESS 0 CC DICKSON COMPANY OWNER C.C. DICKSON JR. IS UNIVERSITY TRUSTEE 23359 PURCHASE OF MAINTENANCE SUPPLIES IN NORMAL COURSE OF BUSINESS 0 X 1 1200 DONOR STATED X 1681 DONOR STATED X 22 111123 SELLING PRICE X 3 3600 DONOR STATED X 5 23901 DONOR STATED X PHOTOGRAPHY 55 8988 INVOICE COST X GIFT INVENTORY FROM CLOSEOUT 16580 COST X RENTAL OF VEHICLES FOR RECRUITING 1 15635 DONOT STATED X GOLF CLUB FEES FOR TOURNAMENT 1 15400 DONOR STATED 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE UNIVERSITY USES A REALTOR TO ASSIST IN SELLING CONTRIBUTED REAL PROPERTY. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO SUBMISSION. THE 990 IS THEN PRESENTED AND DISCUSSED IN A MEETING OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL TRUSTEES AND KEY EMPLOYEES. EACH PERSON INFORMS WINGATE OF ANY POSSIBLE CONFLICT ON THE FORM THEY SIGN. THE CONFLICT OF INTEREST POLICY APPLIES ON MAJOR CONTRACTUAL ARRANGEMENTS WHERE OFFICERS, TRUSTEES, OR KEY EMPLOYEES HAVE AN INTEREST; TOTAL DISCLOSURE TO DECISION MAKER IS MADE. THE AFFECTED INDIVIDUAL RECUSES HIM/HERSELF FROM PARTICIPATING IN DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE ADVISORY COMMITTEE OF THE BOARD OF TRUSTEES ("EAC") CONTRACTED WITH AN EXECUTIVE COMPENSATION CONSULTANT TO CONDUCT A COMPREHENSIVE EXECUTIVE COMPENSATION STUDY. THE CONSULTANT COMPARED THE EXECUTIVE SALARIES OF A PEER GROUP OF TEN (10) UNIVERSITIES IN NORTH CAROLINA, SOUTH CAROLINA, AND TENNESSEE WITH THOSE AT WINGATE UNIVERSITY. THE CONSULTANT SUBMITTED THE DATA AND ASSESSMENT TO THE EAC. THE ASSESSMENT CONCLUDED THAT THE COMPENSATION FOR THE PRESIDENT AND PRESIDENT'S CABINET WAS CONSISTENT WITH THE PEER GROUP, AS WELL AS APPROPRIATE IN THE CONTEXT OF MARKET CONDITIONS FOR HIGHER EDUCATION IN THE CAROLINAS. ON THE BASIS OF THESE FINDINGS, EAC MADE COMPENSATION RECOMMENDATIONS TO THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE, WHICH APPROVED THE RECOMMENDATIONS. THE COMPENSATION RECOMMENDATIONS WERE THEN SUBMITTED TO THE ENTIRE BOARD OF TRUSTEES, WHERE THE RECOMMENDATIONS WERE APPROVED AND IMPLEMENTED. FORM 990, PART VI, SECTION C, LINE 19 SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 135,599. GAIN ON INTEREST RATE SWAP AGREEMENTS 187,140. FORM 990, PART XI, LINE 2C, AUDIT COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. WINGATE UNIVERSITY FOUNDATION PO BOX 159 WINGATE NC 28174 561559907 ORGANIZED SOLELY FOR THE BENEFIT OF WINGATE UNIVERSITY NC 501(C)(3) LINE 11B, II WINGATE UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0