2011-12-09T10:50:43-07:00 2011-06-30 990 2010-07-01 570314415 SPARTANBURG METHODIST COLLEGE SPAR 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Eric McDonald 8645874200 2011-12-20 2010 2016-02-24 21:20:13Z Dr Colleen Perry Keith 1000 Powell Mill Road Spartanburg SC 29301 18782877 0 X www.smcsc.edu X 1911 SC Spartanburg Methodist College is a liberal arts coeducational institution, related to the United Methodist Church, which offers a two-year undergraduate degree. The College has approximately 800 students. 23 23 362 35 0 0 1697480 4143726 13241922 13829296 502754 377501 58806 78967 15500962 18429490 3699036 4199244 0 0 5980432 6260659 44205 196381 710371 5150845 5468482 14874518 16124766 626444 2304724 34834840 39506179 6589386 6418471 28245454 33087708 X The mission of Spartanburg Methodist College, a two-year, coeducational institution related to the United Methodist Church, is to develop the worth and abilities of each individual through programs relevant to academic and personal needs. The College strives for a values-oriented atmosphere in the Christian tradition in which students can develop a sensitivity to the needs of others and from which they can assume responsible positions in society. The academic program offers students the option of transferring to a four-year college or university for continued study or entering a career after graduation. The cirriculum ranges from the basic liberal arts and transfer program to preparation for immediate entry into the job market through career track options. The College offers a wide variety of students the opportunity of higher education by providing a competent and dedicated faculty, financial assistance, work-study positions, and special support programs to meet their needs. 0 0 12736666 4199244 13880894 Higher Education: SMC is a private, church-related (United Methodist), two-year institution of higher education. The college provides instruction to approximately 800 liberal arts students. 0 0 0 12736666 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 40 0 1 362 1 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Eric McDonald 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Mark Hammond 1 X 0 0 0 Steven Hahn 1 X 0 0 0 Phinnize Fisher 1 X 0 0 0 Marianna Black Habisreutinger 1 X X 0 0 0 D Mitchell Houston 1 X 0 0 0 Lillian Washington 1 X 0 0 0 Phyllis Delapp 1 X 0 0 0 John Gramling 1 X X 0 0 0 Jean Osborne 1 X 0 0 0 Bill Painter 1 X X 0 0 0 Ray Lattimore 1 X 0 0 0 Will Malambri 1 X 0 0 0 John Bell 1 X 0 0 0 Craig Phillips 1 X 0 0 0 John Ramsey 1 X 0 0 0 Ed Ellis 1 X 0 0 0 Larry Hays 1 X 0 0 0 Jim Thompson 1 X 0 0 0 W Guy Spriggs 1 X 0 0 0 Pat Henry 1 X 0 0 0 Patsy Simmons 1 X 0 0 0 Justin Converse 1 X 0 0 0 Elizabeth Patterson 1 X 0 0 0 Anita Bowles 50 X 95162 0 8230 Colleen Perry Keith 60 X 172619 0 17471 Daniel Philbeck 45 X 77455 0 4396 Robert Fuzy 45 X 103610 0 5650 Eric McDonald 45 X 84162 0 10387 533008 0 46134 2 0 1 0 The Creative Edge 101 South Church Street Spartanburg SC 29306 Marketing 170061 Sodexo Inc & Affiliates 1000 Powell Mill Road Spartanburg SC 29301 Food Service 1436305 Roebuck Wholesale Nursery & Landscaping PO Box 1053 Roebuck SC 29376 Landscaping 164901 Winkler Consulting Group Inc PO Box 1034 Mt Pleasant SC 29465 Consulting 143910 Blackbaud PO Box 930256 Atlanta GA 31193 Software 124628 6 0 0 8927 0 329755 3805044 326791 4143726 Tuition 900099 9922998 9922998 0 0 Auxillary 611710 3906298 3906298 0 0 0 0 0 0 13829296 407759 0 0 407759 0 0 0 0 0 0 0 0 25120 0 0 0 25120 0 25120 0 0 25120 91347 222631 92292 251944 -945 -29313 -30258 0 0 -30258 11400 8927 9151 2249 0 2249 0 0 0 0 0 0 0 0 0 0 0 0 Other Revenue 900099 51598 51598 0 0 0 0 0 0 51598 18429490 13880894 0 404870 0 0 4199244 4199244 0 0 0 0 594057 108479 383543 102035 0 0 0 0 4786870 3631135 923037 232698 174764 134522 32223 8019 343167 264147 63274 15746 361801 258892 78958 23951 0 0 0 0 16365 16365 72453 72453 196381 196381 38461 38461 162572 136334 4226 22012 163441 8418 154533 490 317538 186795 125821 4922 211066 205211 5855 0 0 0 0 0 1014653 1014281 372 0 335701 273136 46934 15631 0 0 0 0 26260 14399 10222 1639 16314 0 16314 0 0 0 0 0 815928 652742 130549 32637 260219 123873 136346 0 LIBRARY BOOKS AND AUDIO VISUALS 25567 25567 0 0 PUBLIC RELATIONS AND RECRUITMENT 101932 14714 82728 4490 STUDENT LIFE AND STUDENT SERVICES 508564 354918 153296 350 FOOD SERVICE 1034021 1034021 0 0 DEVELOPMENT 17350 0 0 17350 330077 95838 202219 32020 16124766 12736666 2677729 710371 1000 1000 3239296 3426551 781393 1648666 65412 153200 0 0 0 0 371491 269900 8489 11124 41242 49132 26671476 12713653 13685505 13957823 14218495 18125744 2014169 1301166 408348 561873 34834840 39506179 285662 172536 266692 356634 5170000 5053154 867032 836147 6589386 6418471 X 14590745 15690975 2694824 6066170 10959885 11330563 28245454 33087708 34834840 39506179 X 2304724 2537530 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15083147 156718 3156331 803691 0 0 17592505 13818520 111023 1898718 745114 0 0 15083147 18269729 160702 -3584586 1027325 0 0 13818520 0.23 0.64 0.13 1 0 0 118047 118047 0 21033351 10300281 10733070 0 0 0 0 0 3918764 1946080 1972684 0 1601314 467292 1134022 13957823 Capital Lease Obligation 12090 Annuities Payable 448512 Advances from federal government for student loans 375545 836147 18429490 16124766 2304724 2844162 0 0 0 -306632 2537530 4842254 16738466 2844162 0 0 -306632 2537530 14200936 38461 4190093 4228554 18429490 11896212 0 0 0 9151 9151 11887061 38461 4199244 4237705 16124766 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The majority of the endowment funds are donor designated to provide scholarship assistance to students. A few endowments are donor designated to support SMC programs and building maintenance. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The College was organized exclusively for educational purposes and, as such, is exempt from taxation pursuant to Section 501(c)(3) of the Internal Revenue Code and accompanying regulations, and files an information return, Form 990, annually. However, income unrelated to its exempt function, if any, is subject to income taxation. The College follows the provisions of FASB guidance on income taxes related to the accounting for uncertainty in income taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements by prescribing 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. The College's policy is to record a liability for any tax position taken that is beneficial to the College, including any related interest and penalties, when it is more likely than not the position taken by management with respect to a transaction or class of transactions with be overturned by a taxing authority upon examination. Management believes there are no such positions as of June 30, 2011 and 2010 and, accordingly, no liability has been accrued. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in value of split interest agreements $-16,934 plus change in valuation of pledges $-289,698. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Change in value of split interest agreements $-16,934; plus change in valuation of pledges $-289,698. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Tuition Discounts: $4,199,244; Direct Expense Fundraising: $-9,151 SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Direct expenses related to fundraising event: $9,151 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Tuition Discounts: $4,199,244 1 1 1 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 Newspaper and print media SchE_P01_S00_L06 Schedule E, Part I, Line 6 The College receives Pell, SEOG, Academic Competitiveness Grants, Work Study, Student Loans, Tuition Grant, Life and Lottery Scholarship Funds from government agencies for tuition. X X X X X 1 Winkler Consulting Group Inc PO Box 1034 Mt Pleasant SC 29465 The Consultants were engaged to assist in administering and advising on the capital campaign. They also produced written material to assist in fundraising. 0 0 196381 -196381 0 196381 -196381 SC FALL GOLF TOURNAMENT 11932 5932 6000 0 0 0 0 0 5546 SPRING GOLF TOURNAMENT 8395 2995 5400 0 0 0 0 0 3605 0 20327 8927 11400 0 0 0 0 0 9151 9151 2249 1 Scholarships and grants awarded to Spartanburg Methodist College students. 800 4199244 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Students submit the Federal FAFSA and this form is reviewed to award scholarships and other tuition discounts. Students also receive awards based on service (athletics) as well as academic or extracurricular achievements. Awards are credited to student accounts. Accounts are reconciled throughout the year. X X X 0 0 0 0 0 0 0 0 0 Colleen Perry Keith 172619 0 0 0 0 0 8750 0 8721 0 190090 0 0 0 Educational Facilities Authority 576000286 836896FZ8 2005-08-11 6000000 Construction and renovation of education facilities 0 0 0 Educational Facilities Authority 576000286 836896FZ8 2010-12-16 7000000 Construction and renovation of edcuational facilities 0 0 0 0 0 6000000 0 0 0 154368 0 0 5845632 0 0 2006 0 0 1 1 0 0 7000000 0 0 0 113154 0 0 0 0 6886846 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 X 4 92292 FMV X 1 230000 FMV X FOOD AND SUPPLIES 19 2896 FMV X ALUMNI PROGRAMS 9 841 FMV X GOLF TOURNAMENT 6 762 FMV 0 1 0 F990_P03_S00_L01 Form 990, Part III, Line 1 see attached for continuation of mission description F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The IRS Form 990 is reviewed by an independent accounting firm after being prepared by the Vice President of Business Affairs. The Audit and Finance Committee of the Board of Trustees is presented the 990 for review and final approval. A copy of the approved Form 990 is provided to the entire Board prior to filing. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The Conflict of Interest Statement is distributed annually at a Board meeting. The Administrative Assistant to the President documents that all board members return a signed copy of the statement. In the event of a conflict a board member will recuse themselves on voting matters related to their conflicts. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 (a) The College President's salary and benefit package is reviewed annually by the Executive Committee of the Board of Trustees. They consider the President's evaluations from all the Vice-Presidents, the manner and effectiveness which the President has executed his/her duties, and the comparable compensation of Presidents at smiliar institutions in the southeast. (b) The Vice Presidents are evaluated by the President annually. These evaluations are written and reviewed in private consultation with each Vice President. The salaries are based on market values for similar positions at comparative schools in the region and in keeping with the historical trends at the College. Discussions of the President's compensation are documented in the minutes. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The President of the College receives and responds to all requests for the governing documents, conflict of interest policy and financial statements. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other changes to net assets are unrealized gains on investments of $2,844,162 and the change in the value of split interest agreements of -$16,934 plus the change in the valuation of pledges of -$289,698.