2012-05-11T12:35:49-05:00 2011-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2010-07-01 570314422 WOFFORD COLLEGE WOFF 8645974226 429 North Church Street Spartanburg SC 293033663 ROBERT KEASLER 2012-05-11 3362753394 2010 2016-02-24 21:20:13Z Benjamin B Dunlap 429 NORTH CHURCH STREET Spartanburg SC 293033662 158889291 false X www.wofford.edu X 1856 SC The purpose of Wofford College is to function as a liberal arts institution of superior quality. 31 31 1098 31 0 0 11837782 11224891 57217673 61535852 2872238 2023793 445609 512068 72373302 75296604 21642018 24263857 0 0 29115934 28666644 0 0 1929667 23760062 26887980 74518014 79818481 -2144712 -4521877 252845323 308597717 55932056 87305742 196913267 221291975 THE PURPOSE OF WOFFORD COLLEGE IS TO FUNCTION AS A LIBERAL ARTS INSTITUTION OF SUPERIOR QUALITY. ITS CHIEF CONCERN IS THE DEVELOPMENT OF AN INTELLECTUAL, SPIRITUAL, AND AESTHETIC ATMOSPHERE IN WHICH SERIOUS AND INQUIRING MINDS OF STUDENTS AND FACULTY ALIKE WILL BE CHALLENGED TO A COMMON SEARCH FOR TRUTH AND FREEDOM, WHEREVER THAT SEARCH MAY LEAD, AND IN WHICH EACH PERSON MAY BECOME AWARE OF HIS OR HER OWN INDIVIDUAL WORTH, WHILE ASPIRING TO HIGH STANDARDS OF LEARNING AND MORALITY. IN SUCH AN ENVIRONMENT ALL MEMBERS OF THE WOFFORD COMMUNITY SHOULD DEVELOP INTELLECTUAL CURIOSITY, INDEPENDENCE OF THOUGHT, MATURITY OF JUDGMENT, SELF-DISCIPLINE, RELIGIOUS FAITH, AND MORAL CHARACTER SO THAT THEY WILL BE EVER SENSITIVE TO THE DUTIES AND RESPONSIBILITIES OF GOOD CITIZENSHIP AND RENDER EFFECTIVE LEADERSHIP AND GENEROUS SERVICE TO THE COMMUNITIES IN WHICH THEY LIVE. THIS CONCEPT OF LIBERAL EDUCATION IS IN HARMONY WITH THE IDEALS OF THE UNITED METHODIST CHURCH, TO WHICH THE COLLEGE IS RELATED, AN false false 69923630 24263857 61699867 WOFFORD COLLEGE PROVIDED LIBERAL ARTS EDUCATION TO 1,500 FULL-TIME EQUIVALENT STUDENTS DURING 2010-2011, GRADUATING APPROXIMATELY 344 STUDENTS WITH BA OR BS DEGREES 69923630 true true false false false false false false true true true false true true false true false true false true false false false true false false false true true true false false false false false false false false false false true false false false false true false false false false true 349 0 true 1098 true false false false false false false false false false false X 31 31 false false false false false true false true true false false false true true true true true true true false X ROBERT L KEASLER JR 8645974232 429 NORTH CHURCH STREET Spartanburg SC 293033663 B MIKE ALEXANDER JR 1.0 X 0 0 0 PAULA B BAKER 1.0 X 0 0 0 JAMES E BOSTIC JR 1.0 X 0 0 0 MICHAEL S BROWN 1.0 X 0 0 0 J HAROLD CHANDLER 1.0 X 0 0 0 WILLIAM R COBB 1.0 X 0 0 0 J JEANNETTE COOPER 1.0 X 0 0 0 FREDERICK D GIBBS 1.0 X 0 0 0 JIMMY I GIBBS 1.0 X 0 0 0 D CHRISTIAN GOODALL 1.0 X 0 0 0 H NEEL HIPP JR 1.0 X 0 0 0 LAURA J HOY 1.0 X 0 0 0 R MICHAEL JAMES 1.0 X 0 0 0 JAMES M JOHNSON 1.0 X 0 0 0 DOUGLAS H JOYCE 1.0 X 0 0 0 HUGH C LANE JR 1.0 X 0 0 0 BETTY J MONTGOMERY 1.0 X 0 0 0 MARSHALL L MEADORS JR 1.0 X 0 0 0 M STEWART MUNGO 1.0 X 0 0 0 CORRY W OAKES III 1.0 X 0 0 0 JULIAN W OSBON 1.0 X 0 0 0 L LEON PATTERSON 1.0 X 0 0 0 D GRANT PEACOCK 1.0 X 0 0 0 J PATRICK PROTHRO 1.0 X 0 0 0 STANLEY E PORTER 1.0 X 0 0 0 JEROME J RICHARDSON 1.0 X 0 0 0 C MICHAEL SMITH 1.0 X 0 0 0 JOE E TAYLOR JR 1.0 X 0 0 0 JOELLA F UTLEY 1.0 X 0 0 0 JOHN B WHITE JR 1.0 X 0 0 0 EDWARD B WILE 1.0 X 0 0 0 BENJAMIN B DUNLAP 37.5 X 400107 0 91024 MARION B PEAVEY SR 37.5 X 226550 0 75365 DAVID S WOOD SR 37.5 X 207546 0 93248 ROBERT L KEASLER JR 37.5 X 183069 0 73442 DAVID M BEACHAM 37.5 X 109862 0 17295 JENNY MUNROE JOHNSON 37.5 X 213131 0 24495 RICHARD A JOHNSON 37.5 X 123275 0 18411 MICHAEL W AYERS 37.5 X 164518 0 20765 JAMES EDWIN PROCTOR 37.5 X 125206 0 18011 WILLIAM COCHRAN 37.5 X 119631 0 12404 JOAB M LESESNE 1.0 X 22000 0 0 1894895 0 444460 19 true true false MCMILLAN PAZDAN SMITH ARCHITECTURE DEPARTMENT 365 PO BOX 100199 COLUMBIA SC 29202 ARCHITECTURE 442502 ECOMETRIX ENVIRONMENTAL MANAGEMENT 3060 PEACHTREE ROAD NW STE 330 ATLANTA GA 303052234 CONSULTING 439844 WELLINGTON TRUST COMPANY NA PO BOX 13766 NEWARK NJ 071883766 INVESTMENT MGT 162805 LINBECK GROUP LLC PO BOX 22500 HOUSTON TX 772272500 CONSTRUCTION 160451 CANNON ROOFING LLC PO BOX 3030 SPARTANBURG SC 293043030 ROOF CONTRACTING 151369 6 1728705 9496186 818629 11224891 TUITION 611600 46799797 46799797 0 0 AUXILIARY ENTERPRISES 900099 12449914 12449914 0 0 ATHLETIC PROGRAM REVENUE 711210 1777213 1777213 0 0 STUDENT FINES AND FEES 611600 118993 118993 0 0 SPECIAL PROGRAM FUNDING REVENUE 611600 389935 389935 0 0 61535852 2853229 0 0 2853229 0 0 270184 55270 214914 214914 0 0 214914 82564688 45000 83350648 88476 -785960 -43476 -829436 0 0 -829436 231432 98293 133139 0 133139 0 0 0 OTHER/MISCELLANEOUS REVENUE 900099 164015 164015 0 0 164015 75296604 61699867 0 2371846 0 24263857 24263857 0 0 1243305 223001 766402 253902 0 20719267 17935508 1852594 931165 1377090 1181849 125667 69574 3819020 1889764 1805962 123294 1507962 1273827 159692 74443 211876 185196 26680 0 62488 37146 25342 0 191428 4397 187031 0 0 0 0 0 0 0 1138000 0 1138000 0 571630 496623 48066 26941 110031 60967 49064 0 1930327 1550876 300362 79089 683559 545588 136875 1096 0 0 0 0 2436910 2436910 0 0 1333577 1131764 163783 38030 0 0 0 0 173301 91523 80011 1767 1939811 1939811 0 0 0 0 0 0 4821141 4821141 0 0 491385 157115 334270 0 FOOD PURCHASES (ARAMARK) 3203753 3203753 0 0 REPAIRS AND MAINTENANCE 1976337 1973517 2820 0 ENTERTAINMEMT AND FOOD 1065312 742689 146268 176355 BOOKS/PERIODICALS 679786 663091 10804 5891 EQUIPMENT REPLACEMENT 206991 179512 24676 2803 3660337 2934205 580815 145317 79818481 69923630 7965184 1929667 904750 632886 8787880 7303624 397304 362836 984255 881083 1733120 1509832 180006670 71257233 95527082 108749437 32562910 30527649 109278365 135180076 2669657 23450294 252845323 308597717 4617207 8406610 2846424 2629173 34958927 62598105 13509498 13671854 55932056 87305742 X 40482445 44916130 47108005 63853737 109322817 112522108 196913267 221291975 252845323 308597717 X -4521877 28900585 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 141028050 1630254 29380514 4667644 2263757 165107417 131591734 1437875 15250724 5209864 2042419 141028050 170827405 3544064 -36753789 3964580 2061366 131591734 0.01990 0.98010 0.00000 false false 0 24701320 24701320 0 111509249 51813594 59695655 0 26487464 19443639 7043825 0 17308637 17308637 108749437 ABSOLUTE RETURN FUNDS 25309867 F DIRECTIONAL HEDGE FUNDS 24286060 F TRUST FUNDS 59073765 F ASSETS FUNDS 16047801 F DEBT COMMON TRUST FUNDS 7671148 F REAL ESTATE 2791435 F 135180076 CHARITABLE REMAINDER TRUSTS 1872156 DEBT ISSUANCE COSTS 1007371 INSURANCE POLICIES (GIFTED) 780708 FOR CONSTRUCTION PROJECTS 19790059 23450294 0 ADVANCES FROM FEDERAL GOVERNMENT 901668 POST-RETIREMENT BENEFIT OBLIGATIONS 8197178 ASSET RETIREMENT OBLIGATIONS 1183508 ADVANCES UNDER LINES OF CREDIT 2000000 ANNUITIES PAYABLE 446724 LIABILITY FOR CHARITABLE REMAINDER 942776 13671854 75296604 79818481 -4521877 28928365 -27780 28900585 24378708 78044739 28928365 28928365 49116374 26180230 26180230 75296604 53666031 53666031 26152450 26152450 79818481 Endowment Funds Part V, Line 4 The Colleges endowment consists of approximately 710 individuals funds established for a variety of purposes including the funding of scholarships, professorships and the general operations of the College. Other Adjustments Part XI, Line 8 NET PELL GRANTS (27,780) ----------- Total Other Adjustments (27,780) =========== Other Revenue Reconciliation Items Part XII, Line 4b The following items are not included in Revenue on the consolidated financial statements, however, these items are included in revenue reported on Form 990: Investment Expenses 1,138,000 Bad Debt Expense 805,863 Tuition Discounts, Scholarships, and Grants 22,906,615 Pell Grants Received 1,385,022 Direct Rental Expense (55,270) ------------ Total for Part XII, Line 4b 26,180,230 ============ Other Expense Recociliation Items Part XIII, Line 4b The following items are not included in ExpenseS on the consolidated financial statements, however, these items were reclassed to expense to be properly included in the expenses reported on Form 990: Investment Expenses 1,138,000 Tuition Discounts, Scholarships and Grants 22,906,615 Pell Grants Distributed 1,357,242 Bad Debt Expense 805,863 Rental Expense (55,270) ----------- Total for Part XIII, Line 4B 26,152,450 =========== true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 WOFFORD COLLEGE GENERALLY PUBLISHES THE FOLLOWING STATEMENT IN ALL OF ITS COURSE CATALOGUES, BROCHURES, AND ON ITS WEBSITE: IT IS THE POLICY OF WOFFORD COLLEGE TO PROVIDE EQUAL OPPORTUNITIES AND REASONABLE ACCOMMODATION TO ALL PERSONS REGARDLESS OF RACE, COLOR, CREED, RELIGION, SEX, AGE, NATIONAL ORIGIN, DISABILITY, VETERAN STATUS, OR OTHER LEGALLY PROTECTED STATUS IN ACCORDANCE WITH APPLICABLE FEDERAL AND STATE LAWS. FINANCIAL AID/ASSISTANCE FROM A GOVERNMENTAL AGENCY SCHEDULE E, LINE 6A THE COLLEGE RECEIVES ANNUAL PAYMENTS FROM THE CITY OF SPARTANBURG AND COUNTY OF SPARTANBURG TO REPAY THE COLLEGE FOR THE CONSTRUCTION OF A PHYSICAL ACTIVITIES BUILDING AND FOOTBALL STADIUM CONSTRUCTED IN 1994-1995. THE COLLEGE RECEIVES FEDERAL PELL GRANTS AND WORK STUDY FUNDS FROM THE US DEPARTMENT OF EDUCATION AND IN-TURN AWARDS THESE FUNDS TO ITS STUDENTS WITH FINANCIAL NEED. IN ADDITION, THE COLLEGE IS REIMBURSED BY THE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION AND THE NATIONAL SCIENCE FOUNDATION FOR A COUPLE OF SMALL RESEARCH PROJECTS ON CAMPUS. South America 0 0 Program Services STUDY ABROAD Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD Central America and the Caribbean 0 0 Program Services STUDY ABROAD South Asia 0 0 Program Services STUDY ABROAD Sub-Saharan Africa 0 0 Program Services STUDY ABROAD East Asia and the Pacific 0 0 Program Services STUDY ABROAD Middle East and North Africa 0 0 Program Services STUDY ABROAD 0 0 0 0 false false false false false false ALUMNI DANCE 161365 0 161365 0 0 0 0 0 69509 GOLF TOURNAMENT 70067 0 70067 0 0 0 0 0 28784 0 0 0 0 0 0 0 0 0 0 231432 0 231432 0 0 0 0 0 98293 98293 133139 true FINANCIAL AID (SCHOLARSHIPS & GRANTS) 1298 24263857 0 N/A N/A MONITORING THE USE OF GRANT FUNDS SCHEDULE I, PART I, LINE 2 GRANTS AND SCHOLARSHIPS ARE PROVIDED TO STUDENTS ONLY FOR TUITION, FEES AND ROOM AND BOARD. THE FUNDS ARE APPLIED DIRECTLY TO STUDENTS' ACCOUNTS AND CANNOT BE USED FOR OTHER PURPOSES. X false false X X X X false false false false false false false false false BENJAMIN B DUNLAP 300107 0 100000 0 0 0 41675 0 49349 0 491131 0 0 0 MARION B PEAVEY SR 226550 0 0 0 0 0 50247 0 25118 0 301915 0 0 0 DAVID S WOOD SR 207546 0 0 0 0 0 50247 0 43001 0 300794 0 0 0 ROBERT L KEASLER JR 183069 0 0 0 0 0 50247 0 23195 0 256511 0 0 0 JENNY MUNROE JOHNSON 213131 0 0 0 0 0 0 0 24495 0 237626 0 0 0 MICHAEL W AYERS 164518 0 0 0 0 0 0 0 20765 0 185283 0 0 0 JOAB M LESESNE 22000 0 0 0 0 0 0 0 0 0 22000 0 0 0 RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A WOFFORD COLLEGE PROVIDES A HOUSE FOR PERSONAL USE TO DR. BENJAMIN B. DUNLAP, PRESIDENT OF WOFFORD COLLEGE. It is customary for the President to live on campus so that he is available at all times and is able to entertain donors, students, prospects, etc in his home. The fair market value of $24,000 is not included in his taxable compensation, however, it is disclosed on Schedule J as a non-taxable benefit. WOFFORD COLLEGE ALSO PROVIDES A HOUSE FOR PERSONAL USE TO DR. DAVID WOOD, DEAN OF WOFFORD COLLEGE. It is customary for the dean to live on campus so that he is available at all times and is able to entertain donors, students, prospects, etc in his home. The fair market value of $24,000 is not included in his taxable compensation, however, it is disclosed on Schedule J as a non-taxable benefit. SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY 576000286 281901BW7 2007-03-28 12982017 EDUCATIONAL FACILITIES REVENUE false false false SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY 576000286 281901CA4 2007-03-28 4680000 EDUCATIONAL FACILITIES REVENUE false false false SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY 576000286 836896HC7 2008-06-05 19018274 EDUCATIONAL FACILITIES REVENUE false false false SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 2010-12-23 25000000 ECONOMIC DEVELOPMENT REVENUE BONDS false false false 0 0 12982017 0 0 0 192543 0 0 12789474 0 0 2008 false false true true 0 0 4680000 0 0 0 65865 0 0 4614135 0 0 2007 false false true true 0 0 19018274 0 0 0 256210 0 0 18762064 0 0 2009 false false true true 0 0 28450000 0 0 0 100000 0 0 24900000 0 0 2012 false false false true false false false false false 0.00000 0.00000 0.00000 true false false false false false 0.00000 0.00000 0.00000 true false false false false false 0.00000 0.00000 0.00000 true true true false false false 0.00000 0.00000 0.00000 true false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false X 1 2750 APPRAISED X 4849 FMV X 1267 COST X 66 799483 FMV X SEE ATTACHMENT 10 10281 0 false false true OTHER NONCASH GIFTS SCHEDULE M, PART I, QUESTION 25 TYPE OF PROPERTY NUMBER OF CONTRIBUTIONS REVENUE REPORTED BANQUETS AND RECEPTIONS 9 9,844 GOLF OUTING 1 437 ----------- TOTAL 10,281 =========== THIRD PARTIES USED TO PROCESS CONTRIBUTIONS FORM 990, SCHEDULE M, LINE 32A WOFFORD COLLEGE UTILIZES EXTERNAL BROKERS TO SELL DONATED SECURITIES AND REAL ESTATE AGENTS TO SELL DONATED LAND. ELECTION OF BOARD MEMBERS PART VI, SECTION A, LINE 7A Members of the governing body, the Board of Trustees, in accordance with the Will of Benjamin Wofford (founder), are elected by the South Carolina Conference of the United Methodist Church. The process for trustee selection and election is one involving advice and consent among and between members of the Board of Trustees and appropriate representatives of the church body. 990 REVIEW PROCESS PART VI, SECTION B, LINE 11B The Form 990 is provided to the Audit Committee of the Board of Trustees before filing to be reviewed. The final Form 990 is provided to the full Board after filing. MONITOR AND ENFORCE CONFLICT OF INTEREST POLICY PART VI, SECTION B, LINE 12 The College's Conflict of Interest Policy applies to its Board of Trustees and officers. It is the responsibility of each Trustee and officer to ensure that appropriate representatives of the College are made aware of situations that involve personal, familial, or business relationships that could conflict with the interests of the College so that the College can satisfy the requirements of all applicable laws, including, without limitation, the provisions of South Carolina Code Annotated Section 33-31-831 ("Statute"). Each Trustee and officer is required annually to review Conflict of Interest policy and the Statute and disclose any personal, familial, or business matters, transactions, or relationships that reasonably could be construed to give rise to a conflict of interest, real or apparent, involving the College, that would affect his or her independent, unbiased judgment in carrying out his or her duties to the College. In addition, each Trustee and officer must disclose promptly in writing any such matters, transactions, or relationships, not previously disclosed, that come to his or her attention during the course of a year. COMPENSATION REVIEW PART VI, SECTION B, LINE 15 The Senior Vice President for Operations and Finance performs research and presents comparability data to the executive compensation committee who then determine compensation. DOCUMENTS AVAILABLE TO THE PUBLIC PART VI, SECTION C, LINE 19 The College's Annual Audited Financial Statements, IRS Determination Letter, and Form 990 and Schedules are available to the public upon request. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS 28,928,365 NET PELL GRANTS (27,780) ---------- TOTAL 28,900,585 ========== SC CONFERENCE OF THE UNITED METH CHURCH 4908 COLONIAL DRIVE COLUMBIA SC 29203 CHURCH SC 501(c)(3) 1 NA MCCALLA CRUT SLM 610106015 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576144232 TRUST SC WOFFORD COLLEGE TRUST 0 11940 0.58019 MCCALLA CRUT 610104010 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576144230 TRUST SC WOFFORD COLLEGE TRUST 0 12866 0.58403 MCCALLA CRUT CMG 610105017 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576144231 TRUST SC WOFFORD COLLEGE TRUST 0 12910 0.61032 BURWELL TRUST A-3 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 596091539 TRUST SC WOFFORD COLLEGE TRUST 0 923438 0.63636 BURWELL TRUST G-1 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576093374 TRUST SC WOFFORD COLLEGE TRUST 0 100020 1.00000 false false true false false false false false false false false false false false false false false false SC CONF OF THE UNITED METHODIST CHURCH C 375259