2012-05-15T13:42:19-05:00 2011-06-30 ELLIOTT DAVIS LLCPLLC P O BOX 429 GREENWOOD SC 296480429 990 2010-07-01 570314390 ERSKINE COLLEGE AND THEOLOGICAL SEMINARY ERSK 8643798812 PO BOX 338 DUE WEST SC 29639 GREGORY W HASELDEN 8643798812 2012-05-15 1 GEORGE L KENNEDY 8642294951 2010 2016-02-24 21:20:13Z GREGORY W HASELDEN 2 WASHINGTON STREET DUE WEST SC 29639 49759173 0 X WWW.ERSKINE.EDU X 1837 SC THE COLLEGE'S MISSION IS TO EQUIP STUDENTS TO FLOURISH BY PROVIDING AN EXCELLENT LIBERAL ARTS EDUCATION IN A CHRIST-CENTERED ENVIRONMENT WHERE LEARNING AND BIBLICAL TRUTH ARE INTEGRATED TO DEVELOP THE WHOLE PERSON. ERSKINE THEOLOGICAL SEMINARY IS AN EDUCATIONAL INSTITUTION OF THE ASSOCIATE REFORMED PRESBYTERIAN CHURCH, AND THE SEMINARY HAS BEEN CALLED BY GOD AND COMMISSIONED BY ITS HOST TO SERVE NOT ONLY THAT DENOMINATION, BUT ALSO THE ENTIRE CHURCH OF JESUS CHRIST. THE MISSION OF ERSKINE THEOLOGICAL SEMINARY IS TO EDUCATE PERSONS FOR SERVICE IN THE CHRISTIAN CHURCH. 34 34 521 49 0 0 3326677 3392677 21177192 21032587 1546486 3484333 165763 135826 26216118 28045423 8969334 9331151 0 0 10314257 9733386 0 0 272794 10596154 9609731 29879745 28674268 -3663627 -628845 77068358 81677283 21219016 21773825 55849342 59903458 X THE COLLEGE'S MISSION IS TO EQUIP STUDENTS TO FLOURISH BY PROVIDING AN EXCELLENT LIBERAL ARTS EDUCATION IN A CHRIST-CENTERED ENVIRONMENT WHERE LEARNING AND BIBLICAL TRUTH ARE INTEGRATED TO DEVELOP THE WHOLE PERSON. THE SEMINARY'S MISSION IS TO EDUCATE PERSONS FOR SERVICE IN THE CHRISTIAN CHURCH. 0 0 16417898 21032587 COLLEGE AND SEMINARY EDUCATION,STUDENT ROOM AND BOARD, ATHLETICS, BOOKSTORE, AND OTHER COLLEGE ACTIVITIES 16417898 1 1 0 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 38 0 1 521 1 0 0 0 0 0 0 0 0 0 0 0 0 X 34 34 0 0 1 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 SC X GREGORY W HASELDEN 8643798812 2 WASHINGTON STREET DUE WEST SC 29639 SCOTT MITCHELL 5.00 X 0 0 0 JOE PATRICK 0.10 X 0 0 0 MAX BOLIN 0.10 X 0 0 0 CHUCK EVANS 0.10 X 0 0 0 ROBERT GALLOWAY 0.10 X 0 0 0 ANN MARIE TRIBBLE 0.10 X 0 0 0 BOYCE WILSON 0.10 X 0 0 0 RAY CAMERON 0.10 X 0 0 0 RANDY FOLKS 0.10 X 0 0 0 STEVE MAYE 0.10 X 0 0 0 EDDIE SPENCER 0.10 X 0 0 0 JOHN BASIE 0.10 X 0 0 0 JERRY CLEMONS 0.10 X 0 0 0 JIM CORBITT 0.10 X 0 0 0 JOHN DORR 0.10 X 0 0 0 CROSLAND STUART 0.10 X 0 0 0 JUDY BOYD 0.10 X 0 0 0 JOEY DONAHUE 0.10 X 0 0 0 DAVID JOHNSTON 0.10 X 0 0 0 RICHARD TAYLOR 0.10 X 0 0 0 DAN WHITESIDES 0.10 X 0 0 0 BILL CAIN 0.10 X 0 0 0 FRED CARR 0.10 X 0 0 0 LARRY NYCUM 0.10 X 0 0 0 LISA ROBINSON SENN 0.10 X 0 0 0 DAVID CONNER 0.10 X 0 0 0 DIXON CUNNINGHAM 0.10 X 0 0 0 BOBBY MCDONALD 0.10 X 0 0 0 ANDY PUTNAM 0.10 X 0 0 0 TIM WATSON 0.10 X 0 0 0 DAVID CHESTNUT 0.10 X 0 0 0 JOANNE HAMILTON 0.10 X 0 0 0 BEV HICKS 0.10 X 0 0 0 DAVID NORMAN 40.00 X 87500 0 0 GREG HASELDEN 40.00 X X 111650 0 0 WILLIAM ALSTON 40.00 X 79733 0 0 BRADLEY CHRISTIE 40.00 X 90559 0 0 LOYD MELTON 40.00 X 110299 0 0 RALPH GORE 40.00 X 100532 0 0 NEELY GASTON 40.00 X 117462 0 0 697735 0 0 4 1 0 0 ARAMARK FACILITY SERVICES PO BOX 518 DUE WEST SC 29639 GROUNDS & FACILITIES MAINTENANCE 1954231 ARAMARK SERVICES PO BOX 518 DUE WEST SC 29639 FOOD SERVICE PROVIDER 1555435 PALMETTO INSURANCE ASSOCIATES 1807 NORTH BOULEVARD ANDERSON SC 29621 LIABILITY INSURER 158170 EBSCO SUBSCRIPTION SERVICES PO BOX 2543 BIRMINGHAM AL 35202 ONLINE LIBRARY SUBSCRIPTIONS 112617 4 79256 3313421 3392677 STUDENT TUITION & FEES 611710 16255109 16255109 ROOM AND BOARD 611710 4227437 4227437 OTHER 611710 550041 550041 21032587 153188 153188 56190 7525 48665 48665 48665 24790739 21459594 3331145 3331145 3331145 333792 246631 87161 87161 28045423 21032587 0 3620159 9331151 9331151 750534 343537 405556 1441 7335870 4741249 2380349 214272 403864 250461 137225 16178 624508 392395 214989 17124 618610 388986 213122 16502 89088 89088 41292 41292 219458 219458 285619 158747 111492 15380 91669 50796 30610 10263 586664 586664 1462204 1462204 OTHER EXPENSES 6581104 717630 5887169 -23695 TELEPHONE 156436 8745 145992 1699 POSTAGE 68837 28985 36222 3630 PRINTING AND PUBLICATIO 27360 5216 22144 28674268 16417898 11983576 272794 489989 582255 174415 93052 791403 960229 1003659 1021808 197708 160914 66844 73912 50984669 22610215 29671651 28374454 44530150 50274229 142539 136430 77068358 81677283 1580516 1298302 381524 568485 11500000 11230000 1893894 2066145 5863082 6610893 21219016 21773825 X 5145870 7578918 1342920 2363264 49360552 49961276 55849342 59903458 77068358 81677283 X -628845 4682961 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 8 8 1 0 15330 927936 X X 0 43606659 485532 3715822 42178 47765835 42500837 777955 1345693 1017826 43606659 52253746 1887246 -8071632 3568523 42500837 0.01000 0.99000 0 0 260969 260969 41289567 22610215 18679352 8539333 8539333 894800 894800 28374454 INVESTMENTS 43416676 F COLLECTION ITEMS 927936 C TRUST FUND ASSETS 5929617 C 50274229 US GOVERNMENT LOAN FUNDS-REFUNDABLE 961407 ANNUITY PAYMENTS LIABILITY 4175945 INTEREST RATE SWAP LIABILITY 1433125 CAPITAL LEASE PAYABLE 40416 6610893 28045423 28674268 -628845 4428805 254156 4682961 4054116 32728384 4428805 4428805 28299579 -254156 -254156 28045423 28674268 0 28674268 0 28674268 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: REVENUES/EXPENSES FROM CONSERVATION EASEMENTS ARE NOT SEPARATELY REPORTED ON THE REVENUE & EXPENSE STATEMENT, AND THE EASEMENTS ARE NOT SEPARATELY PRESENTED ON THE BALANCE SHEET. 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. PART XI, LINE 8 - OTHER ADJUSTMENTS: COST OF GOODS SOLD 246,631. RENTAL EXPENSES 7,525. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INVESTMENTS 4,428,805. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOKSTORE COGS -246,631. RENTAL EXPENSES -7,525. 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 INSTITUTION'S RACIALLY NONDISCRIMINATORY POLICY IS MADE AVAILABLE THROUGH LOCAL PRINT MEDIA OUTLETS AND COLLEGE AND SEMINARY CATALOGUES. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL AND STATE FUNDS TO PROVIDE FINANCIAL AID FOR STUDENTS. 1 SCHOLARSHIPS 364 7982875 ATLETIC SCHOLARSHIPS 172 1348276 X X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 NEELY GASTON 117462 0 0 0 0 0 0 0 0 0 117462 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE COLLEGE IS PROVIDED WITH HOUSING PER HIS CONTRACT WITH ERSKINE COLLEGE. THE WIFE OF THE PRESIDENT WILL OCCASSIONALLY ACCOMPANY HIM ON BUSINESS TRIPS. PART I, LINE 4A NEELY GASTON: $28,716 BILL CAIN STUDENT/BOARD TRUSTEE 0 0 DISCLOSURE REGARDING BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: A MEMBER OF THE BOARD OF TRUSTEES IS ALSO A STUDENT OF THE COLLEGE. THIS INDIVIDUAL DID NOT RECEIVE ANY BENEFIT EITHER AS COMPENSATION OR AS A REDUCTION OF HIS OBLIGATIONS AS A STUDENT. HE WAS CHARGED FOR TUITION AND OTHER RELATED FEES/EXPENSES AT THE SAME RATE AS ALL OTHER STUDENTS OF THE COLLEGE. X 33 15330 APPRAISAL X 315 ESTIMATION X TRAVEL EXPENSES 18 4660 INVOICES OR FEDERAL MILEAGE RATES X LABOR 3 2834 INVOICES AND/OR HOURLY RATES X SUPPLIES & EQUIPMENT 7 8576 MARKET VALUE X CELL PHONE SERVICE 1 240 INVOICES 0 1 0 FORM 990, PART VI LISTING OF OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES WHO CANNOT BE REACHED AT THE ORGANIZATION'S MAILING ADDRESS: SCOTT MITCHELL: SUPREME COURT OF ALABAMA 300 DEXTER AVENUE MONTGOMERY, AL 36104 JOE PATRICK: LANDFALL DRIVE ROCK HILL, SC 29732 MAX BOLIN: 1005 SPOTTSWOOD ROAD STEELES TAVERN, VA 24476 CHUCK EVANS: 83 UNDERHILL ROAD HENDERSONVILLE, NC 28792 ROBERT GALLOWAY: P.O. BOX 2048 GREENVILLE, SC 29602 ANN MARIE TRIBBLE: 111 WOODLAWN DRIVE LAURENS, SC 29360 BOYCE WILSON: 4333 WOOD FOREST DRIVE ROCK HILL, SC 29732 RAY CAMERON: P.O. BOX 326 LAKE PLACID, FL 33862 RANDY FOLKS: 209 POLO ROAD COLUMBIA, SC 29223 STEVE MAYE: 6517 BUGGY WHIP LANE WAXHAW, NC 28173 EDDIE SPENCER: 317 SOUTH CHESTER STREET GASTONIA, NC 28052 JOHN BASIE: 5565 GEORGIA HIGHWAY 354 PINE MOUNTAIN, GA 31822 JERRY CLEMONS: 106 MAPLEWOOD AVENUE RONCEVERTE, WV 24970 JIM CORBITT: 215 CHATEAU DRIVE GREENVILLE, SC 29615 JOHN DORR: 4374 DOVERSHIRE TRACE NORCROSS, GA 30092 CROSLAND STUART: 1323 STEWART STREET WINTER PARK, FL 32781 JUDY BOYD: 2400 SUMMERLAKE ROAD CHARLOTTE, NC 28226 JOEY DONAHUE: 3545 JENNY LANE BARTLETT, TN 38135 DAVID JOHNSTON: 3945 GIBSONIA ROAD GIBSONIA, PA 15044 RICHARD TAYLOR: 12 FOREST LANE GREENVILLE, SC 29605 DAN WHITESIDES: 7123 BURLWOOD ROAD CHARLOTTE, NC 28211 BILL CAIN: 1205 FAIRFIELD DRIVE GASTONIA, NC 28054 FRED CARR: 10613 GEORGIA AVENUE SILVER SPRING, MD 20902 LARRY NYCUM: 304 BEECHCLIFF COURT WINSTON-SALEM, NC 27104 LISA SENN: 2101 HARRINGTON STREET NEWBERRY, SC 29108 DAVID CONNER: P.O. BOX 2048 GREENVILLE, SC 29602 DIXON CUNNINGHAM: 101 FERNWOOD LANE GREENVILLE, SC 29607 BOBBY MCDONALD: 200 BUCKLER COURT SIMPSONVILLE, SC 29681 ANDY PUTNAM: 667 CHELSEA COURT ROCK HILL, SC 29732 TIM WATSON: 592 NEW STERLING ROAD STONY POINT, NC 28678 DAVID CHESTNUT: 13 DOWNSHIRE CIRCLE DECATUR, GA 30033 JOANNE HAMILTON: 13403 BARTLETT STREET ROCKVILLE, MD 20853 BEV HICKS: 6124 CHERRY HILL COURT LOUISVILLE, KY 40229 FORM 990, PART VI, SECTION A, LINE 4 THE FOLLOWING CHANGES TO THE ERSKINE BY-LAWS WERE ADOPTED ON MAY 20, 2011: 1. THE POWERS OF THE EXECUTIVE COMMITTEE WERE FURTHER CLARIFIED. 2. THE COMPOSITION OF THE BOARD WILL BE REDUCED FROM 34 TO 27 MEMBERS, 5 CLASSES OF 5 TRUSTEES EACH. EACH TRUSTEE WILL SERVE A FIVE-YEAR TERM AS OPPOSED TO A SIX-YEAR TERM. TWO EX-OFFICIO MEMBERS WILL BE INCLUDED UNDER THE REVISED BY-LAWS TO INCLUDE THE PRESIDENT OF THE ALUMNI ASSOCIATION AND THE MODERATOR OF THE GENERAL SYNOD. 3. CAMPUS ADVISORS TO THE BOARD, WITH THE EXCEPTION OF THE PRESIDENT, WILL MEET WITH THE BOARD ON THE THURSDAY SESSION ONLY, BUT NOT ON THE FRIDAY SESSION UNLESS SPECIFICALLY REQUESTED TO DO SO. 4. THE REMOVAL OF TRUSTEES SECTION WAS EDITED TO INCLUDE THAT TRUSTEES CANNOT BE REMOVED WITHOUT CAUSE BY THE BOARD ONLY. 5. AN AUGUST BOARD MEETING WAS ADDED. 6. THE TREASURER WAS ADDED AS THE REGISTERED AGENT FOR THE INSTITUTION. 7. THE ENROLLMENT COMMITTEE OF THE BOARD WAS DISCONTINUED AND ROLLED INTO THE ACADEMICS COMMITTEE OF THE BOARD. 8. THE DUTIES OF THE COMMITTEE ON TRUSTEES WERE FURTHER CLARIFIED. 9. A NEW TRUSTEE INDEMNIFICATION SECION WAS ADDED UNDER ARTICLE VI. 10. THE EXISTING CONFLICTS OF INTEREST POLICY WAS ADDED TO THE BY-LAWS AND A NEW UNDUE INFLUENCE SECTION WAS ADDED UNDER ARTICLE VII. 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 FILED FORM 990 ARE MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT AND VICE PRESIDENTS ARE REQUIRED TO COMPLETE ANNUAL 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 4,428,805. COST OF GOODS SOLD 246,631. RENTAL EXPENSES 7,525. TOTAL TO FORM 990, PART XI, LINE 5: 4,682,961. PART XII, LINE 2C EXPLANATION THE PROCESS FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE THE PRIOR YEAR.