2012-11-15T08:28:29-06:00 2012-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2011-07-01 620476661 TENNESSEE WESLEYAN COLLEGE TENN 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 LARRY WALLACE 4237465208 2012-11-12 1 KIM HUSKEY CPA P00958962 4237567771 2012-11-12 2011 2016-02-24 21:20:13Z LARRY WALLACE 204 EAST COLLEGE STREET ATHENS TN 37303 24787480 0 X WWW.TWCNET.EDU X 1857 TN FOUR-YEAR LIBERAL ARTS COLLEGE 25 25 291 4 0 0 1167550 1446040 21457679 22113355 178095 775286 570939 452799 23374263 24787480 8507464 8687752 0 0 6639463 7066244 0 0 272904 7228553 7374157 22375480 23128153 998783 1659327 28726557 29188803 17154212 17351687 11572345 11837116 FOUR-YEAR LIBERAL ARTS COLLEGE 0 0 13555701 INSTRUCTIONAL - ENROLLED AND EDUCATED OVER 1,100 STUDENTS. 546086 ACADEMIC SUPPORT - INCLUDES THE FUNDS SPENT IN SUPPORT OF THE COLLEGE'S LIBRARY AND OTHER SIMILAR ACTIVITIES. 4606722 STUDENT SERVICES - INCLUDES THE FUNDS ASSOCIATED WITH THE SUPPORT OF THE COLLEGE'S STUDENTS ACADEMICS AND RELATED STUDENT ACTIVITIES. 22566154 22566154 18708509 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 291 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 1 0 TN X GAIL HARRIS 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 CLAIRE W TUCKER 2.00 X 0 0 0 JOEL RILEY 2.00 X 0 0 0 MATTHEW BROOKSHIRE 2.00 X 0 0 0 SHARON S BROWN 1.00 X 0 0 0 ALLEN F CARTER 1.00 X 0 0 0 CARL E COLLOMS 1.00 X 0 0 0 AILENE CHAMBERS 1.00 X 0 0 0 ANGIE GREEN 1.00 X 0 0 0 LAURIE HALLENBERG 1.00 X 0 0 0 TENNA HORNSBY 1.00 X 0 0 0 BRYAN JACKSON 1.00 X 0 0 0 DANIEL F MOORE 1.00 X 0 0 0 CHARLES HARRISON SR 1.00 X 0 0 0 DENNIE HUMPHREYS 1.00 X 0 0 0 CHARLES J LINER 1.00 X 0 0 0 REGENIA L MAYFIELD 1.00 X 0 0 0 PAUL OTTAVIANO 1.00 X 0 0 0 HUGH QUEENER 1.00 X 0 0 0 MARY FARMER WILLIAMS 1.00 X 0 0 0 MINTIE WILLSON 1.00 X 0 0 0 THOMAS M REED 1.00 X 0 0 0 JERRY SMITH 1.00 X 0 0 0 DONALD WEBB 1.00 X 0 0 0 MARK WHITE 1.00 X 0 0 0 JAMES WINER 1.00 X 0 0 0 HARLEY KNOWLES 40.00 X 100000 0 7602 SUZANNE T HINE 40.00 X 77060 0 8975 LARRY WALLACE 40.00 X 69060 0 4128 SCOTT MASHBURN 40.00 X 60000 0 9909 STAN R HARRISON 40.00 X 79560 0 8912 385680 0 39526 0 0 0 0 ARAMARK CORP 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 1196542 NATIONAL MANGAMENT RESOURCES CORP PO BOX 1224 LA GRANGE GA 30241 MAINTENANCE 439528 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTIONS CENTER CHICAGO IL 60677 TEXTBOOK SERVICES 408553 MURRAY GUARD INC PO BOX 1000 MEMPHIS TN 37148 SECURITY 106993 4 145918 1300122 1446040 TUITION 624310 19782415 19782415 FOOD SERVICE 722210 1355292 1355292 RESIDENCE HALL 721310 828270 828270 CAMPS AND CONFERENCES 900099 88385 88385 BOOKSTORE 451211 58993 58993 22113355 270228 270228 505058 0 505058 505058 505058 FORT SANDERS NURSING S 611600 409650 409650 INSURANCE DIVIDENDS/RE 900099 85 85 43064 43064 452799 24787480 22566154 0 775286 8687752 8687752 5690088 4323325 1183833 182930 210200 156170 47486 6544 606130 457785 130573 17772 559826 425121 121968 12737 5549 5549 54242 54242 117177 177 117000 262118 175681 82032 4405 1073805 1073805 868172 739818 128354 CONTRACTED SERVICES 1712992 1488130 220837 4025 UTILITIES 603136 549727 53409 FACILITY FEES 249341 249027 314 DUES AND MEMBERSHIPS 229524 134520 92431 2573 2198101 1321276 834907 41918 23128153 18708509 4146740 272904 1300 1300 913052 1759921 124325 339994 909230 1115239 232231 173904 18114 22782 134803 157442 26048134 10042664 16645536 16005470 9480449 9475998 122000 68603 145517 68150 28726557 29188803 575214 520274 910657 998497 13968998 13017967 1699343 2814949 17154212 17351687 X 1329350 1655145 1085009 810001 9157986 9371970 11572345 11837116 28726557 29188803 X 1659327 -1394556 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9157986 223398 -9414 9371970 9210819 83595 -136428 9157986 8911085 249302 50432 9210819 8967093 48472 65984 34172 114402 21890 8911085 0 0 597191 597191 17217816 5354693 11863123 2349388 984778 1364610 4626001 2796612 1829389 1257738 906581 351157 16005470 FEDERAL SHARE OF PERKINS LOAN PROGRAM 183477 AGENCY FUNDS 123205 SPLIT-INTEREST AGREEMENTS 108972 BOND INTEREST RATE SWAP 2399295 2814949 24787480 23128153 1659327 -214220 -1180336 -1394556 264771 15380450 -214220 -214220 15594670 9192810 9192810 24787480 14440401 0 14440401 8687752 8687752 23128153 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: UNCERTAIN TAX POSITIONS THE COLLEGE IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE COLLEGE MAY BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. THIS INCOME IS REPORTED ON THE FEDERAL FORM 990T AS UNRELATED BUSINESS INCOME. THE COLLEGE FOLLOWS THE GUIDANCE OF ASC TOPIC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITYS FINANCIAL STATEMENTS. THIS INTERPRETATION PRESCRIBES 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. IN ADDITION, ASC TOPIC 740 PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE COLLEGE ADOPTED THE PROVISIONS OF ASC TOPIC 740 AND THEY HAD NO IMPACT ON THE FINANCIAL POSITION, RESULTS OF OPERATIONS, AND CASH FLOWS. THE COLLEGES EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2009 THROUGH JUNE 30, 2012 FOR FEDERAL INCOME TAX, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2012. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SWAP AGREEMENT -1,163,755. CHANGE IN VALUE OF PERKINS LOAN -1,784. CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY -14,797. ROUNDING TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,180,336. CHANGE IN VALUE OF SWAP AGREEMENT, SALE OF PAINTING, PERKINS LOANS, SPLIT-INTEREST AGREEMENTS, AND ASSET IMPAIRMENT COLLECTIONS $-675,278 FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE $8,687,752 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 MAINTAINS AN INSTITUTION THAT IS RACIALLY NONDISCRIMINATORY. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE IS APPROVED TO PROVIDE STUDENT ASSISTANCE WITH THE FEDERAL TITLE 4 STUDENT FINANCIAL AID PROGRAMS. 1 FINANCIAL-AID SCHOLARSHIP 1100 8687752 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 SUPPLEMENTAL INFORMATION PART III THE COLLEGE REQUIRES THE PRESIDENT AND STUDENT LIFE VP TO LIVE ON CAMPUS. THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF MCMINN TENNESSEE 321150835 58235KAB6 2006-10-01 9500000 0 0 0 116850 9383150 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 FEDERAL FORM 990 IS PRESENTED TO THE VICE PRESIDENT FOR FINANCIAL AFFAIRS WHO REVIEWS TO MAKE SURE NUMBERS ARE CORRECTLY REPORTED. VP FOR FINANCIAL AFFAIRS THEN PRESENTS 990 TO THE FINANCE COMMITTEE FOR REVIEW. THEY WILL THEN VOTE FOR APPROVAL. ONCE APPROVED THE 990 IS PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR REVIEW. FINAL APPROVAL IS MADE BY THE BOARD BEFORE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S SALARY IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARY SURVEYS ARE ALSO UTILIZED IN ORDER TO PROVIDE COMPARATIVE DATA FOR REVIEW PRIOR TO APPROVAL. OFFICERS SALARIES ARE SUGGESTED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO HIRE DATE. ONCE HIRED SALARIES ARE ADJUSTED BASED UPON PERFORMANCE AND RECOMMENDATIONS OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE ONLY AVAILABLE UPON REQUEST BY THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -214,220. CHANGE IN VALUE OF SWAP AGREEMENT -1,163,755. CHANGE IN VALUE OF PERKINS LOAN -1,784. CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY -14,797. ROUNDING TOTAL TO FORM 990, PART XI, LINE 5: -1,394,556. 990 PART XII PAGE 12 LINE 2D THE OVERSIGHT PROCESS OR SELECTION PROCESS FOR THE FINANCIAL AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.