2013-05-15T12:59:06-05:00 2012-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Ste 130 Lawrenceville GA 30043 990 2011-07-01 570314390 Erskine College and Theological Seminary ERSK 8643798812 PO Box 338 Due West SC 29639 GREGORY W HASELDEN 8642294951 2013-05-15 1 David C Moja P00747006 6785185301 2011 2016-02-24 21:20:13Z DAVID A NORMAN PO Box 338 Due West SC 29639 34126525 0 X www.erskine.edu X 1837 SC ERSKINE COLLEGE EXISTS TO GLORIFY GOD AS A CHRISTIAN ACADEMIC COMMUNITY WHERE STUDENTS ARE EQUIPPED TO FLOURISH AS WHOLE PERSONS FOR LIVES OF SERVICE THROUGH THE PURSUIT OF UNDERGRADUATE LIBERAL ARTS AND GRADUATE THEOLOGICAL EDUCATION. 32 32 506 49 0 0 3392677 2461423 21032587 21492483 3484333 1924937 135826 132002 28045423 26010845 9331151 10155270 0 0 9733386 9455206 0 0 318856 9609731 9212110 28674268 28822586 -628845 -2811741 81677283 76863425 21773825 23129434 59903458 53733991 ERSKINE COLLEGE EXISTS TO GLORIFY GOD AS A CHRISTIAN ACADEMIC COMMUNITY WHERE STUDENTS ARE EQUIPPED TO FLOURISH AS WHOLE PERSONS FOR LIVES OF SERVICE THROUGH THE PURSUIT OF UNDERGRADUATE LIBERAL ARTS AND GRADUATE THEOLOGICAL EDUCATION. 0 0 16673215 10155270 21572157 COLLEGE AND SEMINARY EDUCATION, STUDENT ROOM AND BOARD, ATHLETICS, BOOKSTORE, AND OTHER COLLEGE ACTIVITIES. 16673215 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 37 0 1 506 1 0 0 0 0 0 0 0 0 0 1 0 X 32 32 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X GREGORY W HASELDEN 8643798812 PO Box 338 Due West SC 29639 JOE PATRICK 10.00 X X 0 0 0 BILL CAIN 10.00 X X 0 0 0 MAX BOLIN 10.00 X X 0 0 0 RAY CAMERON 10.00 X 0 0 0 RANDY FOLKS 10.00 X 0 0 0 STEVE MAYE 10.00 X 0 0 0 EDDIE SPENCER 10.00 X 0 0 0 JOHN BASIE 10.00 X 0 0 0 JERRY CLEMONS 10.00 X 0 0 0 JIM CORBITT 10.00 X 0 0 0 BRYAN BULT 10.00 X 0 0 0 CROSLAND STUART 10.00 X 0 0 0 JUDY BOYD 10.00 X 0 0 0 JOEY DONAHUE 10.00 X 0 0 0 DAVID JOHNSTON 10.00 X 0 0 0 RICHARD TAYLOR 10.00 X 0 0 0 DAN WHITESIDES 10.00 X 0 0 0 FRED CARR 10.00 X 0 0 0 LARRY NYCUM 10.00 X 0 0 0 LISA ROBINSON SENN 10.00 X 0 0 0 DAVID CONNER 10.00 X 0 0 0 DIXON CUNNINGHAM 10.00 X 0 0 0 BOBBY MCDONALD 10.00 X 0 0 0 ANDY PUTNAM 10.00 X 0 0 0 TIM WATSON 10.00 X 0 0 0 ANDY LEWIS 10.00 X 0 0 0 MANTLE NANCE 10.00 X 0 0 0 STEVE SUITS 10.00 X 0 0 0 ANN MARIE TRIBBLE 10.00 X 0 0 0 PETER WAID 10.00 X 0 0 0 BEV HICKS 10.00 X 0 0 0 NAN CAMPBELL 10.00 X 0 0 0 DAVID NORMAN 40.00 X 168101 0 35387 GREG HASELDEN 40.00 X 110060 0 9651 278161 0 45038 2 0 1 0 ARAMARK HIGHER EDUCATION 22506 NETWORK PLACE CHICAGO IL 60673 FACILITIES MGMT 2207130 ARAMARK SERVICES PO BOX 518 DUE WEST SC 29639 DINING SERVICES 1599664 ARP GROUP INSURANCE 1 CLEVELAND ST STE 110 GREENVILLE SC 29601 GROUP HEALTH 1105187 TOWN OF DUE WEST PO BOX 279 DUE WEST SC 29639 ELECTRICAL SERVICE 615194 TIAA-CREF PO BOX 933326 ATLANTA GA 31193 PENSION SERVICES 595618 5 119833 2341590 38710 2461423 STUDENT TUITION & FEES 611710 16700058 16700058 ROOM & BOARD 611710 4678687 4678687 OTHER 611710 113738 113738 21492483 1281653 1281653 58369 6041 52328 52328 52328 8521567 7878283 643284 643284 643284 311030 231356 79674 79674 26010845 21572157 0 1977265 10155270 10155270 344483 344483 7478610 4560354 2714755 203501 241272 82246 148851 10175 705866 377648 310950 17268 684975 348867 320541 15567 39220 39220 34348 34348 197186 197186 98301 98301 476987 161695 294092 21200 127356 127356 795613 795613 103081 43024 52160 7897 718766 718766 1532479 1532479 268435 268435 INSTITUTIONAL SERVICES 3202908 944111 2258797 OTHER EXPENSES 1067765 1024517 43248 549665 549665 28822586 16673215 11830515 318856 582255 806428 93052 47185 960229 806218 1021808 1082970 160914 145985 73912 100234 51702884 24361737 28374454 27341147 50274229 46402937 136430 130321 81677283 76863425 1298302 2146539 568485 611442 11230000 10950000 2066145 1528194 6610893 7893259 21773825 23129434 X 7578918 -4716508 2363264 6325290 49961276 52125209 59903458 53733991 81677283 76863425 X -2811741 -3357726 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 8 8 1 0 7710 927936 X X 0 47765835 309852 69536 8516767 39628456 43606659 485532 3715822 42178 47765835 42500837 777955 1345693 1017826 43606659 52253746 1887246 -8071632 3568523 42500837 0 0 755548 755548 41597537 24361737 17235800 8929500 8929500 420299 420299 27341147 INVESTMENTS 39693371 F TRUST FUND AND ANNUTIY ASSETS 5781630 C COLLECTION ITEMS 927936 C 46402937 US GOVERNMENT LOAN FUNDS - REFUNDABLE 961407 ANNUITIES PAYABLE 1303211 INTEREST RATE SWAP LIABILITY 2350586 TRUST LIABILITIES 2982799 OTHER LIABILITIES 295256 7893259 26010845 28822586 -2811741 -1824497 -1533229 -3357726 -6169467 13069663 -1824497 -1198812 -3023309 16092972 9917873 9917873 26010845 18904713 237397 237397 18667316 10155270 10155270 28822586 Description of How Organization Reports Conservation Easements: Part II, Line 9: REVENUES/EXPENSES FROM CONSERVATION EASEMENTS ARE NOT SEPARATELY REPORTED ON THE STATEMENT OF ACTIVITIES, AND THE EASEMENTS ARE NOT SEPARATELY PRESENTED ON THE STATEMENT OF FINANCIAL POSITION. Part III, Line 4: THE COLLEGE MAINTAINS AN ART CENTER THAT DISPLAYS WORKS OF ART INCLUDING PAINTINGS, MUSIC BOXES, FURNITURE, AND OTHER ITEMS TO THE PUBLIC. THE COLLEGE DISPLAYS THE ARTWORK FREE OF CHARGE TO THE PUBLIC. Description of Uncertain Tax Positions Under FIN 48: Part X: THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ARE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN EXPENSES IN THE STATEMENT OF ACTIVITIES. AS OF JUNE 30, 2012, THE COLLEGE HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. Part XI, Line 8 - Other Adjustments: PRIOR PERIOD ADJUSTMENT -334,417. CHANGE IN VALUE OF TRUSTS & ANNUTITIES -263,068. UNREALIZED LOSS ON INTEREST RATE SWAP -935,744. Total to Schedule D, Part XI, Line 8: -1,533,229. Part XII, Line 2d - Other Adjustments: UNREALIZED LOSS ON INTEREST RATE SWAP -935,744. CHANGE IN VALUE OF TRUSTS AND ANNUITIES -263,068. Part XII, Line 4b - Other Adjustments: SCHOLARSHIPS AND OTHER AID 10,155,270. COST OF GOODS SOLD -231,356. RENTAL EXPENSES -6,041. Part XIII, Line 2d - Other Adjustments: COST OF GOODS SOLD 231,356. RENTAL EXPENSES 6,041. Part XIII, Line 4b - Other Adjustments: SCHOLARSHIPS AND OTHER AID 10,155,270. SCHEDULE D, PART X, LINE 2 - THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ARE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN EXPENSES IN THE STATEMENT OF ACTIVITIES. AS OF JUNE 30, 2012, THE COLLEGE HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 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 THE COLLEGE RECEIVES FEDERAL AND STATE FUNDS TO PROVIDE FINANCIAL AID FOR STUDENTS. Explanation of Racial Nondiscrimination Compliance Schedule E, Part I, Line 7 THE INSTITUTION'S RACIALLY NONDISCRIMINATION POLICY IS MADE AVAILABLE THROUGH LOCAL PRINT MEDIA OUTLETS AND COLLEGE AND SEMINARY CATALOGS. 0 SCHOLARSHIPS 627 8692085 ATHLETIC SCHOLARSHIPS 184 1463184 X X X 1 1 0 0 0 0 0 0 0 0 0 DAVID NORMAN 168101 0 0 0 0 0 0 0 35387 0 203488 0 0 0 Supplemental Information Part III SCHEDULE J, PART I, LINE 1A - THE SPOUSE OF THE PRESIDENT OCCASIONALLY ACCOMPANIES HIM ON BUSINESS TRIPS. THE COLLEGE DEEMS THIS TO BE A BONA FIDE BUSINESS EXPENSE OR THE AMOUNTS ARE INCLUDED IN COMPENSATION. THE PRESIDENT IS REQUIRED TO RESIDE IN AND PROVIDED WITH HOUSING PURSUANT TO HIS CONTRACT WITH ERSKINE COLLEGE. 8118 SCHOLARSHIPS X 3 26756 X 2954 X 1 9000 0 1 0 Form 990, Part VI, Section A, line 4 THE BOARD OF TRUSTEES APPROVED AN UPDATE TO THE BYLAWS OF THE COLLEGE IN MAY OF 2012. Form 990, Part VI, Section B, line 11 THE BOARD OF TRUSTEES OF THE INSTITUTION HAS EMPOWERED THE FINANCE COMMITTEE TO REVIEW AND APPROVE THE FORM 990 PRIOR TO FILING BY THE INSTITUTION. ADDITIONALLY, COPIES OF THE COMPLETED FORM 990 ARE MADE AVAILABLE TO ALL BOARD MEMBERS BEFORE FILING. Form 990, Part VI, Section B, line 12c THE PRESIDENT AND VICE-PRESIDENTS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST FORMS ON AN ANNUAL BASIS. ALL OTHER INSTITUTION STAFF COMPLETE THE FORMS EVERY OTHER YEAR. THESE FORMS ARE REVIEWED BY MANAGEMENT AND A REPORT IS GIVEN TO THE BOARD OF TRUSTEES EACH FALL AT THE SEMI-ANNUAL MEETING. Form 990, Part VI, Section B, line 15 THE PRESIDENT'S COMPENSATION IS REVIEWED ON AN ANNUAL BASIS AS PART OF A PERFORMANCE REVIEW BY THE BOARD OF TRUSTEES. COMPENSATION IS COMPARED AGAINST INFORMATION OBTAINED FROM FORM 990S OF OTHER INSTITUTIONS SIMILAR IN SIZE TO ERSKINE. Form 990, Part VI, Section C, line 19 DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. Form 990, Part VI, Line 11 THE BOARD OF TRUSTEES OF THE INSTITUTION HAS EMPOWERED THE FINANCE COMMITTEE TO REVIEW AND APPROVE THE FORM 990 PRIOR TO FILING BY THE INSTITUTION. ADDITIONALLY, COPIES OF THE COMPLETED FORM 990 ARE MADE AVAILABLE TO ALL BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, LINE 12C THE PRESIDENT AND VICE-PRESIDENTS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST FORMS ON AN ANNUAL BASIS. ALL OTHER INSTITUTION STAFF COMPLETE THE FORMS EVERY OTHER YEAR. THESE FORMS ARE REVIEWED BY MANAGEMENT AND A REPORT IS GIVEN TO THE BOARD OF TRUSTEES EACH FALL AT THE SEMI-ANNUAL MEETING. FORM 990, PART VI, LINE 15 THE PRESIDENT'S COMPENSATION IS REVIEWED ON AN ANNUAL BASIS AS PART OF A PERFORMANCE REVIEW BY THE BOARD OF TRUSTEES. COMPENSATION IS COMPARED AGAINST INFORMATION OBTAINED FROM FORM 990S OF OTHER INSTITUTIONS SIMILAR IN SIZE TO ERSKINE. FORM 990, PART VI, LINE 19 DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -1,824,497. PRIOR PERIOD ADJUSTMENT -334,417. CHANGE IN VALUE OF TRUSTS & ANNUTITIES -263,068. UNREALIZED LOSS ON INTEREST RATE SWAP -935,744. Total to Form 990, Part XI, Line 5: -3,357,726.