2011-05-16T10:58:28-05:00 2010-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2009-07-01 570314422 WOFFORD COLLEGE WOFF 8645974226 429 North Church Street Spartanburg SC 293033663 ROBERT KEASLER 2011-05-16 true 3362753394 2009 2016-02-24 21:20:13Z Benjamin B Dunlap 429 NORTH CHURCH STREET Spartanburg SC 293033662 86671718 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 1058 10 0 11931190 11837782 52673456 57217673 2004483 2872238 515638 445609 67124767 72373302 18802573 21642018 0 0 27559545 29115934 0 0 1978919 23447981 23760062 69810099 74518014 -2685332 -2144712 243649565 252845323 58244301 55932056 185405264 196913267 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 63426771 21642018 57317000 WOFFORD COLLEGE PROVIDED LIBERAL ARTS EDUCATION TO 1,428 FULL-TIME EQUIVALENT STUDENTS DURING 2009-2010, GRADUATING APPROXIMATELY 322 STUDENTS WITH BA OR BS DEGREES 63426771 true true false false false false false false true true true false true false false 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 true 278 0 true 1058 true false false false false false false false false false 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 ALBERT W GRAY 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 JAN LOVE 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 J E REEVES JR 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 398983 0 81594 MARION B PEAVEY SR 37.5 X 225425 0 81726 DAVID S WOOD SR 37.5 X 188682 0 74834 ROBERT L KEASLER JR 37.5 X 181856 0 74295 DAVID M BEACHAM 37.5 X 107456 0 16780 JENNY MUNROE JOHNSON 37.5 X 194531 0 24923 RICHARD A JOHNSON 37.5 X 122451 0 18018 MICHAEL W AYERS 37.5 X 167947 0 50147 JAMES EDWIN PROCTOR 37.5 X 119298 0 17971 DOUGLAS C GABBERT 37.5 X 115430 0 16780 JOAB M LESESNE 1.0 X 27500 0 0 1849559 0 457068 20 true true false KPMG LLP Dept 0613 PO Box 120001 DALLAS TX 75312 Accounting 143712 MCMILLAN PAZDAN SMITH ARCHITECTURE PO Box 5331 SPARTANBURG SC 29304 ARCHITECTS 207369 WELLINGTON TRUST COMPANY NA PO BOX 13766 NEWARK NJ 07188 INVESTMENT MANAGEMEN 135747 ECOMETRIX ENVIRONMENTAL MANAGEMENT 359 E PACES FERRY ROAD NE STE 150 ATLANTA GA 30305 ENV IMPROV CONTRACTS 291369 4 0 0 0 0 1300261 10537521 804359 11837782 TUITION 611600 43232952 43232952 0 0 AUXILIARY ENTERPRISES 900099 11402603 11402603 0 0 ATHLETIC PROGRAM REVENUE 711210 2176408 2176408 0 0 STUDENT FINES AND FEES 611600 112240 112240 0 0 SPECIAL PROGRAM FUNDING REVENUE 611600 293470 293470 0 0 57217673 2757979 0 0 2757979 0 0 0 0 0 258645 32769 225876 225876 225876 14130650 148351 13951909 212833 178741 -64482 114259 114259 221311 100905 120406 120406 0 0 0 0 0 0 OTHER/MISCELLANEOUS REVENUE 900099 99327 99327 0 0 99327 72373302 57437406 0 3098114 0 0 21642018 21642018 0 0 0 0 1253184 238307 761825 253052 0 0 0 0 20164515 17424540 1826007 913968 1404986 1204374 131357 69255 4820387 1586117 3071037 163233 1472862 1240638 158065 74159 76277 49169 27108 0 63189 23908 39281 0 183518 7505 176013 0 0 0 0 0 0 0 1138000 0 1138000 0 657730 455477 169302 32951 96920 74126 22794 0 1642982 1322052 247378 73552 619191 410819 207362 1010 0 0 0 0 2091263 2091263 0 0 1097822 990127 67026 40669 0 0 0 0 186092 133306 48181 4605 1633668 1633668 0 0 0 0 0 0 4478605 4478605 0 0 476064 160425 315639 0 REPAIRS AND MAINTENANCE 1650511 1643427 7084 0 ENTERTAINMENT AND FOOD 839387 566134 110292 162961 FOOD PURCHASES (ARAMARK) 3059146 3059146 0 0 EQUIPMENT REPLACEMENT 153294 134033 18965 296 BOOKS/PERIODICALS 663499 644148 10680 8671 2952904 2213439 558928 180537 74518014 63426771 9112324 1978919 3243785 904750 1624812 0 8344256 8787880 288722 397304 1001317 984255 1665456 1733120 161739889 66212807 94198536 95527082 28310378 32562910 102359453 109278365 2612850 2669657 243649565 252845323 4349717 4617207 2701784 2846424 35924613 34958927 15268187 13509498 58244301 55932056 X 39572301 40482445 39228244 47108005 106604719 109322817 185405264 196913267 243649565 252845323 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 131591734 1437875 15250724 5209864 2042419 141028050 170827405 3544064 -36753789 3964580 2061366 131591734 0.02000 0.98000 0.00000 false false 24177196 24177196 108472718 48203123 60269595 24149911 18009684 6140227 4940064 4940064 95527082 ABSOLUTE RETURN FUNDS 23387198 F DIRECTIONAL HEDGE FUNDS 21265414 F TRUST FUNDS 47278798 F ASSETS FUNDS 14472551 F REAL ESTATE 2874404 F 109278365 0 ADVANCES FROM FEDERAL GOVERNMENT 1008674 POST-RETIREMENT BENEFIT OBLIGATIONS 8043744 ASSET RETIREMENT OBLIGATIONS 1149109 ADVANCES UNDER LINES OF CREDIT 2000000 ANNUITIES PAYABLE 490072 LIABILITY FOR CHARITABLE REMAINDER 817899 13509498 72373302 74518014 -2144712 13652715 13652715 11508003 62961503 13652715 13652715 49308788 23064514 23064514 72373302 51453500 51453500 23064514 23064514 74518014 Endowment Funds Part V, Line 4 The Colleges endowment consists of approximately 680 individuals funds established for a variety of purposes including the funding of scholarships, professorships and the general operations of the College. Other Revenue Reconciliation Items Part VII, Line 4b The following items are included in Revenue on the consolidated financial statements, however, these items are not included in revenue reported on Form 990: Investment Expenses 1,138,000 Bad Debt Expense 317,264 Tuition Discounts, Scholarship, Etc. 20,614,748 Pell Grants 1,027,271 Direct Rental Expenses (32,769) ------------ Total for Part VII, Line 4b 23,064,514 ============ Other Expense Reconciliation Items 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 Bad Debt Expense 317,264 Tuition Discounts, Scholarship, Etc. 20,614,748 Pell Grants 1,027,271 Direct Rental Expenses (32,769) ------------ Total for Part VII, Line 4b 23,064,514 ============ true true true 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 ACCOMODATION 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. true true true true false false false false false false false false true false 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. true ALUMNI DANCE 166556 0 166556 0 0 0 0 0 70743 GOLF TOURNAMENT 54755 0 54755 0 0 0 0 0 30163 0 0 0 0 0 0 0 0 0 0 221311 0 221311 0 0 0 0 0 100906 100906 120405 true FINANCIAL AID (SCHOLARSHIPS & GRANTS) 1341 21642018 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 298983 0 100000 0 0 0 25953 0 55641 0 480577 0 0 0 MARION B PEAVEY SR 225425 0 0 0 0 0 50935 0 30791 0 307151 0 0 0 DAVID S WOOD SR 188682 0 0 0 0 0 50935 0 23899 0 263516 0 0 0 ROBERT L KEASLER JR 181856 0 0 0 0 0 50935 0 23360 0 256151 0 0 0 JENNY MUNROE JOHNSON 194531 0 0 0 0 0 0 0 24923 0 219454 0 0 0 MICHAEL W AYERS 167947 0 0 0 0 0 29524 0 20623 0 218094 0 0 0 JOAB M LESESNE 27500 0 0 0 0 0 0 0 0 0 27500 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. SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY 576000286 281901BW7 2007-03-28 12982017 EDUCATIONAL FACILITIES REVENUE false false SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY 576000286 281901CA4 2007-03-28 4680000 EDUCATIONAL FACILITIES REVENUE false false SOUTH CAROLINA EDUCATION FACILITIES AUTHORITY 576000286 836896HC7 2008-06-05 19018274 EDUCATIONAL FACILITIES REVENUE false false 12982017 192543 12789474 2008 false false true true 4680000 65865 4614135 2007 false false true true 19018274 256210 18762064 2009 false false true 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 false false false false false false false true false false false false false false false false false false X 5816 FMV X 34111 COST X 51 258742 FMV X 1 685000 FMV X 1 4500 FMV X LAB AND OTHER EQUIPMENT 5 471068 FMV X PROMOTIONAL ITEMS (VIDEOS, ETC.) 1 2000 COST X BANQUETS AND RECEPTIONS 11 7111 COST X HVAC FOR DEAN'S HOME 1 21011 COST 0 false false false ELECTION OF BOARD MEMBERS PART VI, SECTION A, LINE 7 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 A, LINE 10 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. INTERESTS IN VARIOUS CHARITABLE REMAINDER TRUST SCHEDULE R, PART IV WOFFORD COLLEGE SERVES AS TRUSTEE AND HAS A REMAINDER INTEREST IN VARIOUS CHARITABLE REMAINDER UNI-TRUST AND CHARITABLE REMAINDER ANNUITY TRUST. THESE TRUSTS HAVE BEEN DISCLOSED ON SCHEDULE R, PART IV. WOFFORD COLLEGE DOES NOT RECEIVE A K-1 ASSOCIATED WITH THESE TRUSTS. ONLY THE BENEFICIARIES RECEIVE A K-1 AND HAVE AN INTEREST IN THE INCOME. THE SHARE OF TOTAL ASSETS WAS CALCULATED BY DETERMINING THE ASSETS HELD IN THE TRUST AND REMOVING THE LIABILITY NOTED IN THE TRUST AGREEMENT. THIS AMOUNT IS AN ESTIMATE. WOFFORD COLLEGE IS ANTICIPATING FURTHER GUIDANCE FROM THE IRS TO DETERMINE THE AMOUNTS THAT SHOULD BE DISCLOSED FOR CHARITABLE REMAINDER TRUSTS REQUIRED TO BE DISCLOSED ON SCHEDULE R. 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 T 0 10411 0.58004 MCCALLA CRUT 610104010 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576144230 TRUST SC WOFFORD COLLEGE T 0 11233 0.58660 MCCALLA CRUT CMG 610105017 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576144231 TRUST SC WOFFORD COLLEGE T 0 11342 0.61561 BURWELL TRUST A-3 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 596091539 TRUST SC WOFFORD COLLEGE T 0 742161 0.63636 BURWELL TRUST G-1 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576093374 TRUST SC WOFFORD COLLEGE T 0 87112 1.00000 BURWELL TRUST G-2 429 NORTH CHURCH STREET SPARTANBURG SC 293033663 576093375 TRUST SC WOFFORD COLLEGE T 0 2987 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 392546