2011-05-11T10:46:58-05:00 2010-06-30 Cherry Bekaert & Holland LLP 1029 Greene Street Augusta GA 30901 990 2009-07-01 237434499 PAINE COLLEGE PAIN 7068218217 1235 FIFTEENTH STREET AUGUSTA GA 30901 DR GEORGE C BRADLEY 7068218315 2011-05-05 1 Elizabeth Morrison 7067243557 2011-05-05 2009 2016-02-24 21:20:13Z DR GEORGE C BRADLEY 1235 15TH STREET AUGUSTA GA 30901 18455701 0 X www.paine.edu X 1882 GA HIGHER EDUCATION AND EMPHASIZES ETHICAL AND SPIRITUAL VALUES 27 27 722 0 0 0 5297426 5275835 11611737 12778679 321827 245800 134050 155387 17365040 18455701 1108857 1454051 0 8510537 10537448 0 0 7396029 6477009 17015423 18468508 349617 -12807 24009493 25767243 6043086 7236338 17966407 18530905 Paine College strives to provide a quality liberal arts education that emphasizes ethical and spiritual values, social responsibility and personal development. 0 0 12163812 1454051 12934066 The purpose of the college is for the higher education of students. 12163812 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 722 1 0 0 0 0 0 0 0 0 0 1 1 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X X DR GEORGE BRADELY 7068218200 PAINE COLLEGE AUGUSTA GA 30901 rev cindy h autry 5.00 X 0 0 0 Mr Clayton P Boardman III 1.00 X 0 0 0 rev gary dean 1.00 X 0 0 0 rev james cason 1.00 X 0 0 0 dr carmichael crutchfield 1.00 X 0 0 0 Dr eddie cheeks 1.00 X 0 0 0 Dr Varnell gaines 1.00 X 0 0 0 rev dr paul gardner 1.00 X 0 0 0 mr wayne b kendall 1.00 X 0 0 0 bishop james r king jr 1.00 X 0 0 0 bishop othal h lakey 1.00 X 0 0 0 dr okoroafor nzeh 1.00 X 0 0 0 mr david peterson 1.00 X 0 0 0 mrs harriet reid 1.00 X 0 0 0 dr louise rice 1.00 X 0 0 0 dr silas norman jr 1.00 X 0 0 0 rev dumas shelnutt jr 1.00 X 0 0 0 mr fred thompson 1.00 X 0 0 0 bishop benjamin m watson 1.00 X 0 0 0 robert l bell 1.00 X 0 0 0 rev william g griffin 1.00 X 0 0 0 bishop marshall gilmore 1.00 X 0 0 0 dr ora mcconner jones 1.00 X 0 0 0 mark callaway 1.00 X 0 0 0 ms jessye norman 1.00 X 0 0 0 DRGEORGE C BRADLEY 40.00 X X 160000 0 14498 dr marshalita peterson 40.00 X 82000 0 506 dr tina cardenas 40.00 X 80000 0 8440 mr leroy summers 40.00 X X 130000 0 361 mr brandon brown 40.00 X 80000 0 4282 dr cheryl evans jones 40.00 X 85000 0 9382 dr tina marshall-bradley 40.00 X 61800 0 4197 ms frances wimberly 40.00 X 64000 0 4282 ms helene carter 40.00 X 65000 0 3929 807800 0 49877 2 0 1 0 THOMPSON HOSPITALITY LLC 505 HUNTER PARK DRIVE HERNDON VA 20170 FOOD SERVICE COMPANY 786830 WFF MANAGEMENT SERVICES PO BOX 958204 st louis MO 631958204 MAINTENANCE AND CUSTODIAL 320264 robinson group consulting inc 1604 darien club dr darien IL 60561 consulting 230138 t l clark 11071 bunkerhill drive los alamitos CA 90720 SCHOOL SUPPLY 166129 vista design group inc 7001 st andrews rd 374 columbia SC 29212 landscaping 153000 7 3165971 2109864 5275835 STUDENT TUITION & FEES 611710 9811681 9811681 AUXILLIARY ENTERPRISES 611710 2966998 2966998 12778679 245800 245800 OTHER INCOME 611710 155387 155387 155387 18455701 12934066 0 245800 1454051 1454051 807800 807800 7675947 6741524 934423 2053701 1401575 652126 14767 14767 51809 51809 76974 76974 19367 399 18968 614325 276531 337794 87984 29655 58329 1902254 984331 917923 569916 375552 194364 208356 208356 699375 699375 310223 310223 OTHER INSTITUTIONAL SUP 725583 725583 FOOD CONTRACTS 708793 708793 PROVISIONS FOR DOUBTFUL 295882 295882 AUXILlIARY ENterPRISES 191401 191401 18468508 12163812 6304696 0 820065 1195348 2196422 2024504 1895029 2110324 8807 8807 22644 22644 28675798 17058558 10965174 11617240 6701236 6759130 1119584 1388748 280532 640498 24009493 25767243 817263 1637292 1466763 1182672 3030192 3687506 728868 728868 6043086 7236338 X 8109620 8252976 5477391 5391492 4379396 4886437 17966407 18530905 24009493 25767243 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7977525 339244 546240 593218 8269791 9551999 306238 206186 1119522 967376 7977525 0.59000 0.41000 0 0 1863022 1863022 18909139 17058558 1850581 615754 615754 6767883 6767883 520000 520000 11617240 SHORT-TERM INVESTMENTS 1388748 F 1388748 advances from federal government for student loan 728868 728868 18455701 18468508 -12807 441782 135523 577305 564498 18820509 441782 441782 18378727 76974 76974 18455701 18391534 0 18391534 76974 76974 18468508 Part V, Line 4: Description of Intended Use of Endowment Funds: TEMPORARILY RESTRICTED - NET ASSETS RESULTING FROM CONTRIBUTIONS RESTRICTED BY OUTSIDE SOURCES ARE REPORTED AS TEMPORARILY RESTRICTED AND ARE DISTINGUISHED FROM UNRESTRICTED NET ASSETS ALLOCATED TO SPECIFIC PURPOSE BY ACTION OF THE GOVErNING BOARD. EXTERNALLY RESTRICTED NET ASSETS MAY ONLY BE UTILIZED IN ACCORDANCE WITH THE PURPOSES ESTABLISHED BY THE SOURCE OF NET ASSETS AND ARE IN CONTRAST WITH UNRESTRICTED NET ASSETS OVER WHICH THE GOVERNING BOARD RETAINS FULL CONTROL FOR USE IN ACHIEVING ANY OF ITS INSTITUTIONAL PURPOSES. HOWEVER, IF A RESTRICTION IS FULFILLED IN THE SAME TIME PERIOD IN WHICH THE CONTRIBUTION IS RECEIVED, THE COLLEGE REPORTS THE SUPPORT AS UNRESTRICTED. PERMANENTLY RESTRICTED - NET ASSETS ARISING FROM CONTRIBUTIONS, WHICH ARE REQUIRED TO BE INVESTED AND MAINTAINED IN PERPETUITY, ARE CLASSIFIED AS PERMANENTLY RESTRICTED. NET INVESTMENT INCOME ON ASSETS PLEDGED FOR PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS RESTRICTED EARNINGS OR GAINS, BASED ON RESTRICTIONS PLACED ON THE USE OF THE NET APPRECIATION BY THE DONOR. Part X: Description of Uncertain Tax Positions Under FIN 48: The College has evaluated the effect of GAAP guidance on Accounting for Uncertainty in Income Taxes that became effective this year. The College is tax exempt under Section 501(c)(3) of the Internal Revenue Code. Management believes that the College continues to satisfy the requirements of a tax-exempt organization and therefore had no uncertain income tax positions at June 30, 2010. Part XII, Line 4b - Other Adjustments: investment expense reported under functional expenses: 76974. Part XIII, Line 4b - Other Adjustments: investment expense reported under functional expenses: 76974. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE ADMINISTERS THE FEDERAL PERKINS LOAN PROGRAM TO PROVIDE FINANCIAL AID TO STUDENTS. 1 1 institutional SCHOLARSHIP 63 362788 BOOK institutional scholarship and grants 316 1091263 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE ADMISSIONS OFFICE MAKES THE DETERMINATION FOR THE INSTITUTIONAL (SCHOLASTIC - ACADEMIC, CSRA, PRESIDENTIAL, TRANSFER) SCHOLARSHIPS. THE CRITERIA IS BASED ON HIGH SCHOOL GRADE POINT AVERAGE, ACT OR SAT SCORES, AND COLLEGE GPA AND EARNED HOURS. ONCE ADMISSIONS DETERMINES ELIGIBILITY, AWARDS ARE DISTRIBUTED BY THE FINANCIAL AID OFFICE. 0 0 0 0 0 0 0 0 0 DRGEORGE C BRADLEY 160000 0 0 0 0 0 14449 0 49 0 174498 0 0 0 Form 990, Part VI, Section B, line 11 THE FORM 990 WAS PRESENTED TO THE FINANCE COMMITTEE FOR THEIR APPROVAL. Form 990, Part VI, Section B, line 12c IT IS THE POLICY OF PAINE COLLEGE TO PROHIBIT ITS EMPLOYEES FROM ENGAGING IN ANY ACTIVITY, PRACTICE, OR ACT WHICH CONFLICTS WITH, OR APPEARS TO CONFLICT WITH, THE INTEREST OF THE COLLEGE, ITS DONORS OR ITS CUSTOMER ORGANIZATIONS. EMPLOYEES HAVE AN OBLIGATION TO AVOID CONFLICT OF INTEREST AND THE APPEARANCE OF CONFLICT OF INTEREST AND TO REFER QUESTIONS OR CONCERNS ABOUT POTENTIAL CONFLICTS OF INTEREST TO THEIR SUPERVISOR. Form 990, Part VI, Section B, line 15 THE EXECUTIVE DIRECTORS' COMPENSATION SHALL BE REViEWED AND SET ANNUALLY BY THE EXECUTIVE COMMITTEE AFTER THE EXECUTIVE SESSION. Form 990, Part VI, Section C, line 18 PAINE COLLEGE'S 990 is posted on the ANOTHER'S website. FORMs 1023 AND 990 ARE also AVAILABLE UPON REQUEST. Form 990, Part VI, Section C, line 19 PAINE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, 2A AND 2C FINANCE COMMITTEE PAINE COLLEGE'S FINANCE COMMITTEE CONSTITUTES A STANDING COMMITTEE OF THE BOARD AND RECOMMENDS, FOR APPROVAL OF THE BOARD, AN ACCOUNTANT OR FIRM OF ACCOUNTANTS, TO REVIEW THE FINANCIAL OPERATIONS OF THE ORGANIZATION. form 990, PART xi, page 11 single audit act and omb circular a-133 THE ORGANIZATION HAS DESIGNED AND IMPLEmeNTED INTERNAL CONTROLS OVER COMPLIANCE WITH GRANT REQUIREMENTS. THE ORGANIZATION IS ALSO SUBJECT TO AN ANNUAL OMB CIRCULAR A-133 AUDIT, WHICH TESTS THE ORGANIZATION'S INTERNAL CONTROLS OVER COMPLIANCE FOR FEDERAL GRANT COMPlIANCE REQUIREMENTS. FORM 990, PART V, 7G, & 7H FORM 8899 AND 1098-C THE ORGANIZTION DID NOT RECEIVE CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY AND WAS THEREFORE NOT REQUIRED TO FILE FORM 8899. THE ORGANIZTION DID NOT RECEIVE CONTRIBUTIONS OF CARS AND WAS THEREFORE NOT REQUIRED TO FILE FORM 1098-C. THE ORGANIZATION DID NOT HAVE ANY REPORTABLE GAMING (GAMBLING) WINNINGS TO PRIZE WINNERS AND THEREFORE THE BACKUP WITHOLDING RULES DID NOT APPLY. form 990, PART vi, section b, LINE 14 rentention of records ALL RECORDS MUST BE RETAINED FOR THE LENGTH OF TIME SPECIFIED BY THE FEDERAL OFFICE OF MANAGEMENT & BUDGET. IF ANY LITIGATION WERE INITIATED PRIOR TO THE SIX-YEAR LIMITATION, RECORDS MUST BE KEPT UNTIL THE RESOLUTION OF ALL ISSUES ARISING FROM THESE ACTIONS.