2012-05-15T14:05:35-05:00 2011-06-30 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 500 ORLANDO FL 32801 990 2010-07-01 591157081 FLAGLER COLLEGE INC FLAG 9048296481 PO BOX 1027 ST AUGUSTINE FL 320851027 KENNETH S RUSSOM 9048296481 2012-05-15 1 XIAOYAN LUO 4078021200 2010 2016-02-24 21:20:13Z KENNETH S RUSSOM PO BOX 1027 ST AUGUSTINE FL 320851027 56965270 0 X WWW.FLAGLER.EDU X 1968 FL FOUR-YEAR LIBERAL ARTS COLLEGE FOR APPROXIMATELY 2,900 STUDENTS 23 20 971 60 527035 20286 6900695 7584670 44221680 47036430 833668 1656900 434817 442544 52390860 56720544 0 8849082 0 0 20142532 21805460 0 89902 1554752 27649563 20696932 47792095 51441376 4598765 5279168 147061593 165219917 38309646 47152688 108751947 118067229 X TO PROVIDE A SUPPORTIVE AND CHALLENGING ENVIRONMENT IN WHICH STUDENTS ACQUIRE KNOWLEDGE, EXERCISE GOOD CITIZENSHIP, AND ADHERE TO HIGH ETHICAL STANDARDS. 0 0 39613512 8849082 47036430 THE AIM OF FLAGLER COLLEGE IS TO PROVIDE A SUPPORTIVE AND CHALLENGING ENVIRONMENT IN WHICH STUDENTS ACQUIRE KNOWLEDGE, EXERCISE GOOD CITIZENSHIP, AND ADHERE TO HIGH ETHICAL STANDARDS.THE PRINCIPAL FOCUS OF THE COLLEGE'S ACADEMIC PROGRAM IS UNDERGRADUATE EDUCATION IN SELECTED LIBERAL AND PRE-PROFESSIONAL STUDIES; THUS, THE ROLE OF TEACHING IS CENTRAL TO THE COLLEGE'S MISSION.THE PURPOSES OF THE ACADEMIC PROGRAM ARE TO PROVIDE OPPORTUNITIES FOR GENERAL AND SPECIALIZED LEARNING; TO ASSIST STUDENTS IN PREPARING FOR CAREERS; AND TO AID QUALIFIED STUDENTS IN PURSUING GRADUATE AND PROFESSIONAL STUDIES.THE OBJECTIVES OF THE STUDENT LIFE PROGRAM AT FLAGLER ARE TO ESTABLISH APPROPRIATE STANDARDS OF CONDUCT AND TO PROMOTE ACTIVITIES THAT WILL CONTRIBUTE TO THE DEVELOPMENT OF SELF-DISCIPLINE, INTEGRITY, AND LEADERSHIP.FLAGLER COLLEGE WAS ESTABLISHED AS A MEMORIAL TO HENRY M. FLAGLER. THE HOTEL PONCE DE LEON, BUILT BY MR. FLAGLER, SERVES AS A REMINDER OF HIS ENTERPRISE, DILIGENCE, AND COMMITMENT TO HIGH STANDARDS. THE COLLEGE IS PLEDGED TO THE PRESERVATION AND USE OF THIS FACILITY AND OTHER HISTORIC AND ARCHITECTURALLY UNIQUE CAMPUS STRUCTURES. 39613512 1 1 0 1 0 1 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 57 0 1 971 1 1 1 1 BF 0 0 0 1 1 0 0 0 0 X 23 20 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 FL X PAMELA LEYDON 9048296481 74 KING STREET ST AUGUSTINE FL 32084 X DAVID DRYSDALE 1.00 X X 0 0 0 FRANK D UPCHURCH III 1.00 X 0 0 0 JOHN D BAILEY JR 1.00 X 0 0 0 MARK F BAILEY 1.00 X 0 0 0 EDDIE CREAMER 1.00 X 0 0 0 VIKI W FREEMAN 1.00 X 0 0 0 WW GAY 1.00 X 0 0 0 HORACE A GRAY IV 1.00 X 0 0 0 RICHARD GROUX 1.00 X 0 0 0 DORIS GUIDI 1.00 X 0 0 0 GF ROBERT HANKE 1.00 X 0 0 0 WALTER G JEWETT JR 1.00 X 0 0 0 THE HONORABLE HOWELL W MELTON 1.00 X 0 0 0 DUANE L OTTENSTROER 1.00 X 0 0 0 LEWIS B POLLARD 1.00 X 0 0 0 NANCY RUTLAND 1.00 X 0 0 0 CHRIS L REGAS 1.00 X 0 0 0 RANDAL L RINGHAVER 1.00 X 0 0 0 AMBASSADOR JOHN D ROOD 1.00 X 0 0 0 BRADFORD B SAUER 1.00 X 0 0 0 FRANK C STEINEMAN JR 1.00 X 0 0 0 ROBERT J STRANG 1.00 X 0 0 0 BRIAN WILSON 1.00 X 0 0 0 JACK WILSON 1.00 X 0 0 0 DR WILLIAM T ABARE JR 50.00 X 355925 0 56086 FRANK D UPCHURCH III 1.00 X 0 0 0 MARY JANE DILLON 50.00 X 76836 0 12558 KENNETH S RUSSOM 50.00 X 123474 0 12503 DR WILLIAM L PROCTOR 50.00 X 157804 0 15000 ALAN WOOLFOLK 40.00 X 133003 0 16619 JOE PROVENZA 40.00 X 102055 0 26983 PAMELA LEYDON 40.00 X 101175 0 13118 1050272 0 152867 6 0 1 0 DIMARE CONSTRUCTION COMPANY 3545 US 1 SOUTH ST AUGUSTINE FL 32086 CONSTRUCTION SERVICES 3850264 ARAMARK 1101 MARKET STREET PHILADELPHIA PA 19107 STUDENT FOOD SERVICES 2138362 A D DAVID CONSTRUCTION COMPANY 3940 LEWIS SPEEDWAY 2201 ST AUGUSTINE FL 32084 CONSTRUCTION SERVICES 1356500 WW GAY 524 STOCKTON ST JACKSONVILLE FL 32204 MECHANICAL CONTRACTOR 736098 ROYALL & COMPANY 1920 EAST PARHAM RD RICHMOND VA 23228 UNDERGRADUATE RECRUITING 420633 30 39613 673965 1446102 5424990 436437 7584670 TUITION AND FEES 611710 39660324 39660324 HOUSING AND FOOD SERVI 611710 7157498 6869996 287502 OTHER PROGRAM REVENUE 611710 218608 218608 47036430 977421 977421 44108 44108 44108 44108 679479 679479 679479 679479 29226 39613 38797 -9571 -9571 506109 205929 300180 300180 MISCELLANEOUS REVENUE 900099 86902 86902 ADVERTISING REVENUE 541800 20925 20925 107827 56720544 46530320 527035 2078519 8849082 8849082 974515 974515 16700107 12026302 3773298 900507 588664 499967 51260 37437 2257482 1629402 506073 122007 1284692 844202 378995 61495 90603 90603 109364 109364 97642 97642 89902 89902 118539 118539 919754 123646 725583 70525 88445 52054 36391 2308644 664505 1606884 37255 3715919 2712827 980648 22444 739006 463400 227972 47634 209391 82043 52861 74487 1153302 1151786 1516 5745093 5745093 230748 197934 32814 AUXILLARY SERVICES 2317447 2317447 STUDENT SERVICES 1027547 1027547 MISCELLANEOUS EXPENSE 974048 374835 508154 91059 INSTRUCTION 515990 515990 ACADEMIC SUPPORT 335450 335450 51441376 39613512 10273112 1554752 2927627 8052116 14992378 16906482 1223858 323698 208629 232041 247208 262609 551525 427138 159812 173212 1260070 1554805 143696536 40736566 97621725 102959970 27844038 34223674 24723 104172 147061593 165219917 3327082 3628899 177046 133965 1236237 1063047 32256816 41070613 1312465 1256164 38309646 47152688 X 96219378 104040818 1688734 3891862 10843835 10134549 108751947 118067229 147061593 165219917 X 5279168 4036114 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 1 1 0 0 0 0 1 97642 0 0 97642 0 PART IV, SUPPLEMENTAL INFORMATION: THE COLLEGE RETAINS THE SERVICES OF A CONTRACTOR WHO ASSISTS WITH RAISING THE VISIBILITY OF THE COLLEGE AND IDENTIFYING POTENTIAL FEDERAL FUNDING FOR THE COLLEGE'S STRATEGIC NEEDS. X 1 3.00 0 0 0 1 1 15.00 0 1 0 382809 X X X X 0 0 0 40404265 2697750 11673140 1059661 53715494 36972102 817815 2991947 377599 40404265 42095813 516704 -5173498 466917 36972102 0.05650 0.26610 0.67690 0 1 1 11597920 11597920 51685375 9801721 41883654 55518079 17950539 37567540 10846143 6745435 4100708 14049019 6238871 7810148 102959970 BOND PREMIUM 1108129 OTHER LIABILITIES 148035 1256164 EXPLANATION OF CHANGES TO CONSERVATION EASEMENTS: PART II, LINE 3: OPEN FOR DESCRIPTION OF CONSERVATION EASEMENT PART III, LINE 4: THE COLLEGE'S COLLECTION INCLUDES VARIOUS WORKS OF ART FROM THE PONCE DE LEON HOTEL AND DONATIONS WHICH FURTHER THE COLLEGE'S EXEMPT PURPOSE BY PROVIDING EDUCATIONAL VALUE TO THE COLLEGE. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE MAINTAINS THE ENDOWMENT FUNDS ACCORDING TO DONOR RESTRICTIONS FOR SCHOLARSHIPS AND PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE COLLEGE QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, THE TAX RETURNS FOR THE YEARS 2008 THROUGH 2010 ARE SUBJECT TO REVIEW BY FEDERAL AUTHORITIES. 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 COLLEGE ISSUES ITS CATALOG AND VIEWBOOKS FOR PUBLIC INSPECTION, BOTH DISCLOSE THE NONDISCRIMINATORY POLICY. THE SCHOOL DRAWS A SUBSTANTIAL PERCENTAGE OF STUDENTS NATIONWIDE AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL AIR OR ASSISTANCE FROM THE DEPARTMENT OF EDUCATION. X X X X X X X 1 ALIGNMENT PARTNERS 18141 WEST CATAWBA AVENUE CORNELIUS NC 28031 VOICE OF THE CUSTOMER SURVERY, ADVISOR SOLUTIONS PROJECT, PR 0 0 16942 0 SHARON GREENE 10341 SEQUOYA DRIVE JACKSONVILLE FL 32257 GRANT WRITING AND RESEARCH 0 0 14285 0 CRISTIN HERENDEEN 226 1/2 EIGHTH AVE NE 3 ST PETERSBURG FL 33701 PROSPECT RESEARCH 0 0 18675 0 AXELA GOVERNMENT RELATIONS LLC 575 SEVENTH STREET NORTHWEST WASHINGTON DC 20004 FOUNDATION PROSPECT RESEARCH 0 0 40000 0 89902 FL NEW YEAR'S EVE BALL 27609 9933 17676 3678 10413 3897 2042 PRESIDENT'S GOLF TOURNAMENT 41230 29680 11550 6122 5887 6433 325 68839 39613 29226 6122 9565 16846 3897 2367 38797 -9571 1 INSTITUIONAL GRANTS 2067 2449736 0 N/A N/A ATHLETIC SCHOLARSHIPS 154 1094675 0 N/A N/A OTHER SCHOLARSHIPS AND FINANCIAL AID 1230 5304671 0 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE'S GRANTS ARE PRIMARILY MONITORED IN THE FINANCIAL AID DEPARTMENT THROUGH THE UTILIZATION OF WRITTEN AND ELECTRONIC DOCUMENTATION. STUDENTS RECEIVING GRANTS AND SCHOLARSHIPS ARE DEEMED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACHIEVEMENT AND FINANCIAL NEED. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DR WILLIAM T ABARE JR 159067 0 30000 0 166858 0 0 0 56086 0 412011 0 0 0 DR WILLIAM L PROCTOR 142804 0 0 0 15000 0 15000 0 0 0 172804 0 0 0 PART I, LINE 1A DR. WILLIAM T. ABARE, JR. - THE COLLEGE PROVIDES A HOUSING ALLOWANCE OF $74,014 WITH A TAX GROSS-UP PROVISION OF $31,421, BOTH OF WHICH WERE INCLUDED IN TAXABLE INCOME. DR. WILLIAM T. ABARE, JR. - THE COLLEGE PAYS FOR ANNUAL DUES TO THE MARSH CREEK COUNTRY CLUB. THE DUES PAID DURING 2010 WERE $4,700 AND WERE NOT INCLUDED IN TAXABLE INCOME. HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY 900058227 34073TAD9 2003-11-16 22000000 CONSTRUCTION AND RENOVATION PROJECTS 0 0 0 HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY 900058228 34073TAW7 2006-12-21 21212458 ACQUISITION, CONSTRUCTION, AND EQUIPPING OF EDUCATIONAL FACILITIES 0 0 0 ST JOHN'S COUNTY EDUCAIONAL FACILITIES AUTHORITY 452448434 2011-05-20 10000000 CONSTRUCTION AND RENOVATION PROJECTS 0 0 0 22000000 134714 5399 17593276 5100000 2008 1 0 1 1 21212458 462306 21225964 2010 0 0 1 1 10000000 115000 2122897 7762103 0 0 0 0 0 1 1 0 1 0.04580 0.00000 0.04580 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DR WILLIAM T ABARE HOME MORTGAGE X 381650 222609 0 1 1 ALAN WOOLFOLK MOVING EXPENSES X 40000 40000 0 0 1 262609 WILLIAM W GAY COLLEGE TRUSTEE, INDEPENDENT CONTRACTOR 736098 PROFESSIONAL SERVICES 0 JACK WILSON BOARD TRUSTEE 114783 VEHICLE PURCHASES/REPAIRS 0 X 7 310812 STOCK MARKET QUOTES X 1 36625 FAIR MARKET VALUE X 1 80000 APPRAISED VALUE X BOWLING TICKETS 1 9000 FAIR MARKET VALUE 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE COLLEGE'S EXECUTIVE COMMITTEE CONSISTS OF THE CHAIRMAN OF THE BOARD, THE VICE CHAIRMAN, AND THREE OTHER TRUSTEES WHO ARE RECOMMENDED BY THE TRUSTEES COMMITTEE AND ELECTED BY THE BOARD. THE CHAIRMAN OF THE BOARD SERVES AS CHAIRMAN OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL THE DUTIES OF THE BOARD OF TRUSTEES IN THE INTERIM BETWEEN MEETINGS OF THE BOARD, SUBJECT TO THE RESTRICTIONS HEREINAFTER SET FORTH AND FURTHER SUBJECT TO SUCH LIMITATIONS UPON ITS AUTHORITY AS THE BOARD OF TRUSTEES MAY, FROM TIME TO TIME, IMPOSE. IN NO EVENT SHALL THE EXECUTIVE COMMITTEE HAVE AUTHORITY TO APPOINT TRUSTEES OR TO AMEND THE BYLAWS. ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD AT THE NEXT MEETING OF THE BOARD. THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR ASSESSING THE PERFORMANCE OF THE PRESIDENT ANNUALLY. IN ADDITION, THE COMMITTEE DETERMINES APPROPRIATE COMPENSATION FOR THE PRESIDENT AND REVIEWS WITH THE PRESIDENT HIS OR HER COMPENSATION RECOMMENDATIONS FOR OTHER SENIOR OFFICERS OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 2 JOHN D. BAILEY, SR. AND JOHN D. BAILEY JR. - FAMILY RELATIONSHIP JACK WILSON AND BRIAN WILSON - FAMILY RELATIONSHIP FRANK D. UPCHURCH, JR. AND FRANK D. UPCHURCH, III - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 IS PROVIDED TO THE COLLEGE'S BOARD OF TRUSTEES PRIOR TO SUBMISSION WITH THE IRS. AS A MATTER OF PROCEDURE, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FORM 990. THE EXECUTIVE COMMITTEE PRESENTS A REPORT OF ITS REVIEW TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES SHALL BE ASKED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ON AN ANNUAL BASIS. COPIES WILL BE MADE AVAILABLE TO THE EXECUTIVE COMMITTEE AND THE AUDIT COMMITTEE FOR THEIR REVIEW. A TRUSTEE SHALL DISCLOSE TO THE BOARD ANY POTENTIAL CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME, AND WILL ABSENT HIMSELF OR HERSELF FROM ANY SITUATION IN WHICH A CONFLICT OF INTEREST COULD INFLUENCE DECISION MAKING. A DECLARATION BY A BOARD MEMBER OF EVERY CASE IN WHICH HE OR SHE HAS A POTENTIAL CONFLICT OF INTEREST IS AN EFFECTIVE MEANS OF ENSURING THE BOARD'S INTEREST IN BEING VIGILANT. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF SUCH MEETING SHALL REFLECT DISCLOSURE OF ANY CONFLICT OF INTEREST AND THE RECUSAL OF THE INTERESTED TRUSTEE. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE'S BOARD OF TRUSTEES REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION. THE PRESIDENT REVIEWS AND APPROVES OTHER OFFICERS' AND KEY EMPLOYEES' COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. EXPLANATION FOR HOURS WORKED FORM 990, PART VII, SECTION A EDDIE CREAMER, HORACE A. GRAY IV, DUANE L. OTTENSTROER, LEWIS B. POLLARD, RANDAL L. RINGHAVER, BRADFORD B. SAUER, AND BRIAN WILSON WORKED APPROXIMATELY THREE HOURS PER WEEK AS FOLLOWS: FLAGLER COLLEGE, INC. - ONE HOUR/WEEK FLAGLER COLLEGE ENDOWMENT FUND - ONE HOUR/WEEK JESSIE KENAN WISE FOUNDATION - ONE HOUR/WEEK CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,895,686. INTERCOMPANY ELIMINATIONS 140,428. TOTAL TO FORM 990, PART XI, LINE 5: 4,036,114. FLAGLER COLLEGE ENDOWMENT FUND PO BOX 1027 ST AUGUSTINE FL 32085 510224117 PROVIDE SUPPORT TO THE COLLEGE VA 501(C)(3) LINE 11C, III-FI FLAGLER COLLEGE INC 1 JESSIE KEAN WISE FOUNDATION PO BOX 1027 ST AUGUSTINE FL 32085 566040717 PROVIDE SUPPORT TO THE COLLEGE NC 501(C)(3) LINE 11C, III-FI FLAGLER COLLEGE INC 1 0 0 1 0 0 0 0 0 0 0 1 1 1 1 1 1 0 0 JESSIE KENAN WISE FOUNDATION C 248965 CASH TRANSFERRED FLAGLER COLLEGE ENDOWMENT FUND C 425000 CASH TRANSFERRED