2013-01-30T14:55:05-07:00 2012-06-30 990 2011-07-01 540506306 BRIDGEWATER COLLEGE BRID 5408285487 402 East College Street Bridgewater VA 228121599 Anne Keeler 5408285487 2013-01-31 2011 2016-03-07 17:11:31Z Roy Ferguson 402 East College Street Bridgewater VA 22812 76364810 0 X www.bridgewater.edu X 1880 VA Bridgewater College is a private, coeducational, liberal arts college of approximately 1,700 students. It's mission is to educate and develop the whole person, with the goal of graduating citizens who are leaders living ethical, healthy, useful and fulfilling lives. Students are encouraged to develop a strong sense of personal accountability and civic responsibility. 39 39 1045 0 61340 35754 2025573 3978206 56733101 57801374 4288859 3579967 1189478 1442640 64237011 66802187 22311513 23502322 0 0 21029359 21881248 0 0 1251910 17224701 18862664 60565573 64246234 3671438 2555953 158317654 160627872 48412235 51646797 109905419 108981075 The mission of Bridgewater College is to educate and develop the whole person. Our graduates will be equipped to become leaders, living ethical, healthy, useful, and fulfilling lives with a strong sense of personal accountability and civic responsibility. This mission is carried out in a learning community with Christian values, high standards of integrity and excellence, affirming and challenging each member. 0 0 34338008 23502322 43306584 Bridgewater College offers more than 60 majors and minors as well as concentrations and dual degree programs spread among 17 academic departments. The departments include: art, biology, chemistry, communication studies and theatre, economics and business administration, education, English, family and consumer sciences, foreign languages, health and exercise science, history and policial science, mathematics and computer science, music, philsophy and religion, physics, psychology and sociology. 9433784 0 0 In addition to academic offerings, Bridgewater College offers its students the following auxiliary services: Housing including Wright-Heritage, Geisert, Wakeman, Blue Ridge, Daleville and Dillon Halls, honors houses, the Wampler Towers, Strickler Apartments, Stone Village housing community and the Boitnott House. Food service offerings include the main dining hall as well as the Eagle Nest and Crimson Cafe. Bridgewater College also offers a variety of summer programs including athletic camps, a writing academy for area teachers, the Bridge Program for at-risk entering freshmen, and more. Other auxiliary facilities include the Bookstore. 8922382 0 25446 Student services at Bridgewater College include a robust list of more than 70 student clubs and organizations, including Eagle Productions, a student-run activity programming board. A number of staff work to make life outside of class as fulfilling for BC students as it is in class. Facilities to support these initatives include: Carter Center for Worship and Music; Funkhouser Center for Health and Wellness; the student life offices including career services, counseling and service-learning; Kline Campus Center; and athletics facilities including Nininger Health and Exercise Science Center, Mapp Field, Jopson Athletic Complex and Bridgewater College Equestrian Center. 4492959 0 0 Academic support areas at Bridgewater College include the Dean of the Academic Affairs, the Alexander Mack Memorial Library, C.E. Shull Information Technology Center, the writing center and the academic support center. 4492959 0 0 57187133 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 2250 0 1 1045 1 1 1 1 GK VI 0 0 0 0 1 2 0 0 0 X 39 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 NJ OR VA X Mary S Schwab 5408285487 402 East College Street Bridgewater VA 22812 Ronald Sink 0 X 0 0 0 Stephen Hollinger 0 X 0 0 0 W Gregory Broyles 0 X 0 0 0 A Wesley Graves 0 X 0 0 0 Barbara Stoltzfus 0 X 0 0 0 Donna Walker 0 X 0 0 0 Kathy Wright 0 X 0 0 0 Nancy Bowman 0 X 0 0 0 Mensel Dean Jr 0 X 0 0 0 Mary G Garber 0 X 0 0 0 Wilfred E Nolen 0 X 0 0 0 Judy M Reimer 0 X 0 0 0 Robert I Stolzman 0 X 0 0 0 James H Walsh 0 X 0 0 0 James L Wilkerson 0 X 0 0 0 G Steven Agee 0 X 0 0 0 Susan Logan Craun 0 X 0 0 0 William S Earhart 0 X 0 0 0 Lawrence M Johnson 0 X 0 0 0 Michael K Kyles 0 X 0 0 0 J Allen Layman 0 X 0 0 0 Nathan H Miller 0 X 0 0 0 Yancey W Ford Jr 0 X 0 0 0 D Cory Adamson 0 X 0 0 0 J Russell Bruner 0 X 0 0 0 Michael Del Giudice 0 X 0 0 0 Kathryn A Tuttle 0 X 0 0 0 Krishna Kodukula 0 X 0 0 0 G Benjamin Wampler 0 X 0 0 0 George Cornelius 40 X X 300852 0 42757 Anne B Keeler 40 X 127090 0 17424 Roy Ferguson 40 X 135000 0 8255 Carol Scheppard 40 X 131313 0 12052 Reginald Webb 40 X 112651 0 13367 Beverly Butterfield 40 X 120473 0 7841 927379 0 101696 6 0 1 0 Branch and Associates P O Box 40051 Roanoke VA 24022 Building contractor 2839374 Riddleberger Brothers Inc 6127 S Valley Pike Mount Crawford VA 22841 HVAC Contractor 519023 Royall & Company 1920 E Parham Road Richmond VA 232282206 higher education consultant 435942 Stillwater Excavating Inc 1548 Moffett Branch Road Charlottesville VA 24421 excavation 258987 G and H Contracting Inc 1320 Southside Drive Salem VA 24153 Building contractor 151486 8 0 0 0 0 218173 3760033 342998 3978206 Tuition revenue 611310 43306584 43306584 0 0 Residence halls and facilities 721000 7615055 0 0 7615055 Dining services and conferences 722212 6748890 0 0 6748890 Bookstore 451211 99135 0 0 99135 Catering 722320 6264 0 6264 0 25446 0 25446 0 57801374 1095050 0 0 1095050 0 0 0 0 0 0 0 0 404710 16500 66940 0 337770 16500 354270 0 20164 334106 11978619 1981 9384777 110906 2593842 -108925 2484917 0 -3802 2488719 0 various plant incomes 611710 147549 0 0 147549 Student activities and fees 611710 685038 0 0 685038 Department vehicle charge 611710 32959 0 0 32959 222824 0 13268 209556 1088370 66802187 43306584 61340 19456057 0 0 23502322 23502322 0 0 0 0 1178212 290044 586142 302026 0 0 0 0 16068808 11873651 3618342 576815 850900 653354 167405 30141 2586985 1183915 1362429 40641 1196343 853420 288888 54035 0 0 0 0 22695 0 22695 0 63945 0 63945 0 0 0 0 0 0 0 131594 0 131594 0 878662 649499 175008 54155 99831 64534 35297 0 805083 642998 123333 38752 479422 471372 8050 0 0 0 0 0 2646584 1442479 1204105 0 537063 487094 10966 39003 0 0 0 0 61336 49497 9451 2388 1792039 1784227 7812 0 0 0 0 0 3344088 3207615 136473 0 187451 64799 122652 0 Auxiliary expenses 2878897 2878897 0 0 Student life and athletic expenses 947342 947342 0 0 maintenance allocation 0 4276109 -4343782 67673 UBIT 19095 12431 6664 3967537 1851534 2069722 46281 64246234 57187133 5807191 1251910 480 530 14109266 16574681 3510292 3320242 242672 232145 0 0 0 0 4229605 3994563 80162 75781 0 110592500 40475710 67890774 70116790 29320298 24894553 38726631 41220307 0 0 0 0 207474 198280 158317654 160627872 3637081 3328691 0 0 1470323 2160914 26657896 25483582 0 0 119081 25482 10246748 13917892 6281106 6730236 48412235 51646797 X 42892441 42452230 23942291 22495413 43070687 44033432 109905419 108981075 158317654 160627872 X 2555953 -3480297 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 0 0 1 2163 1 936 0 0 3099 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 In January 2012, two employees and seven students traveled to the state capital to meet with their respective legislators to thank them for their past support of funding for the state's tuition assistance grant and to encourage their continued support of the program. The College's president sent an email to the campus community encouraging people to contact their respective legislators to ask them to continue their support of the state's tuition assistance grant. He also sent a letter to the College's legislator asking him to continue his support as well. Bridgewater College belongs to the Council of Independent Colleges in Virginia which lobbies on behalf of all its member schools and their students, on issues of importance to private higher education. 0 61099 0 0 X X 0 63735166 1239216 893284 1844944 849103 350659 62822960 54467332 923890 11450474 1887287 864674 354569 63735166 48233134 3009822 6354039 1974887 825882 328894 54467332 55569914 3449213 -7763009 1947797 782323 292864 48233134 0.059 0.653 0.288 1 0 742695 884192 1626887 2011384 79741072 28131211 53621245 0 12494425 4482248 8012177 0 8151326 5768809 2382517 3138030 3429376 2093442 4473964 70116790 37925281 F 3295026 F 41220307 Trust and annuity obligations 4909681 U.S. Government grants refundable 1820555 6730236 66802187 64246234 2555953 -3288807 0 -191490 0 0 -3480297 -924344 63215158 -3288807 0 0 0 -3288807 66503965 298222 0 298222 66802187 64139502 0 0 0 0 0 64139502 106732 0 106732 64246234 SchD_P03_S00_L04 Schedule D, Part III, Line 4 The museum is a general history museum which provides our students the opportunity to see items linked to historical events that they are studying. SchD_P05_S00_L04 Schedule D, Part V, Line 4 Most of the college's endowments provide scholarships to our students. Some endowments fund faculty chairs, symposia and the operation of specific buildings. SchD_P10_S00_L02 Schedule D, Part X, Line 2 Management has evaluated the effect of the guidance provided by U.S. generally accepted accounting principles on Accounting for Uncertainty in Income Taxes. Management believes that the College continues to satisfy the requirements of a tax-exempt organization at June 30, 2012. Management has evaluated all other tax positions that could have a significant effect on the financial statements and determined the College had no uncertain income tax positions at June 30, 2012. Fiscal years ending on or after June 30, 2008 remain subject to examination by federal and state tax authorities. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 Bridgewater College draws from a wide geographical area not covered by one newspaper or broadcast media as a soliciation for students. As required by revenue procedure 75-50, Bridgewater College has publicized its racially non-discriminatory policy by including a statement of this fact in all its publications and promotional materials. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Bridgewater College received financial aid in the form of Pell Grants, SEOG and Perkins loans which was awarded to our students based on federal guidelines. Central America and the Caribbean Investments 1914044 Europe (including Iceland and Greenland) Investments 114747 0 0 2028791 0 0 0 0 1 0 1 Institutional scholarships 1602 23229329 0 Amount of scholarship credited to students' accounts VFIC Scholarships 39 70143 0 Scholarship amount posted to students' accounts Supplemental Educational Opportunity Grant 129 72850 0 Scholarship amount posted to students' account Lettie Pate Whitehead Scholarships 41 130000 0 Scholarship amount posted to students' account SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Office of Financial Aid administers the following policies to assure that institutional grants and scholarships are used for proper purposes: The aggregate of institutional funds that an individual student receives is restricted to an amount equivalent to tuition and fees; Enrollment is confirmed each semester prior to disbursement of institutional funds; Eligibility for academic scholarships is limited to a maximum of eight (8) semesters. Renewal grade point average requirements are checked at the end of each academic year; Eligibility for institutional general grants requires a demonstration of need based on submission of the Free Application for Federal Student Aid (FAFSA); Endowed scholarships have selection criteria specific to each fund and the Director of Financial Aid oversees the selection of eligible students; when a student withdraws from school, the percentage adjustments made to institutional aid are the same as the percentage adjustments made to tution as specified in the catalog. X X 1 1 X X X X 1 0 0 0 0 0 0 0 1 1 George Cornelius 300852 0 0 0 0 0 14700 0 28057 0 343609 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The institution provides on campus housing to the president and his family. This includes housekeeping services, lawn care and all utilities. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Beverly Butterfield received severance compensation for six months. Her severance pay began in September and was $36,597 including wages and benefits for the calendar year. SchJ_P01_S00_L08 Schedule J, Part I, Line 8 The President was paid a fixed salary based on a written contract. No part of his compensation was contingent on revenues or net earnings. Industrial Development Authority of the Town of Broadway Virginia 542028957 111606AY5 2003-07-31 9886541 construction of student housing and facilities renovation 0 0 0 Industrial Development Authority of Rockingham County Virginia 541155987 773462CJ3 2003-08-27 15036270 provide funds to refund 1993 issue, 1987 issue and 1978 issue 0 0 0 Industrial Development Authority of the Town of Bridgewater Virginia 541381459 10874MAR4 2006-08-09 5419728 $4,059,412 was used to renovate the kitchen and dining area. $1,457,500 refund 2002 bonds 0 0 0 Industrial Development Authority of the Town of Bridgewater Virginia 541381459 000000000 2007-12-12 3000000 construction and renovation of campus facilities 0 0 0 1385000 0 9918277 10000000 0 0 89781 113459 0 9897309 0 0 2004 0 0 1 1 3910000 0 14803285 15160000 0 0 282202 123730 0 0 14754068 0 2003 1 0 1 1 1440000 0 5609164 5425000 0 0 92252 5272 0 4059412 1457500 0 2007 1 0 1 1 729230 0 3051834 3000000 0 0 0 0 0 3051834 0 0 2009 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 SchK_P02_S00_L03 Schedule K, Part II, Line 3 Bond A - The variance is caused by interest income of $ 100,549, accrued interest of $20,968 and issurance discount of $89,781. Bond B - The variance is caused by accrued interest of $ 49,217 and underwriter's discount of $ 282,282. Bond C - The variance is interest income of $ 189,436. Bond D - The variance is interest income of $51,834. SchK_P03_S00_L07 Schedule K, Part III, Line 7 The college adopted a written policy to ensure the post-issuance compliance of its tax-exempt bond liabilities on August 16, 2012. Smith Midland Corporation Former trustee is owner of business 106343 The college purchased materials for a construction project from the corporation. 0 X 2 2 value to college X 15 value to college X 1 value to college X 13 98590 FMV X 2 241872 FMV X 1 1 value to college X 1 1 value to college X 1 1 value to college X Other - archival materials 5 5 value to college X Other - event expenses 2 2 value to college X Other - gift cards/certificates 6 6 value to college X miscellaneous equipment 2 2 value to college X donation of office furniture 1 2500 FMV 5 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b The college hired real estate agents to sell donated real estate. SchM_P01_S00_L33 Schedule M, Part I, Line 33 The college does not record revenue for horses that are donated for the equestrian program. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The 990 was made available on-line to the entire board of trustees. During a meeting of the Audit Committee, the College's administration discussed significant parts of the form and asked the committee members to review the form and to notify the college by email when their review was complete. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The Director of Human Resources collects the annual disclosure forms for employees and any exceptions are reviewed by the President or his designee. The Vice President for Finance and Treasurer reviews the Board of Trustees forms. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Annually in August the Executive Committee of the Board of Trustees establishes the President's salary for the year. Information including peer salary data and published surveys for comparisons, along with historic trend data, is considered. The President is not present during the discussion. The Executive Committee performs an evaluation of the President. The full Board of Trustees reviews Executive Committee actions related to the President's compensation. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Bridgewater College does not make its governing documents and financial statements available to the public. The College's conflict of interest policy for employees is available on the College's website in the employee handbook. F990_P11_S00_L05 Form 990, Part XI, Line 5 The adjustment is $3,288,807 in unrealized losses and $ 191,490 in investment expenses.