2022-03-28T21:39:40-05:00 2021-05-31 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2020-06-01 566049935 WINGATE UNIVERSITY WING 8007555550 PO BOX 159 WINGATE NC 28174 MELISSA PERDUE CFO 8007555550 2022-03-16 1 MELISSA PERDUE 999009999 YONG ZHANG CPA P01249785 7033366400 2022-03-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DR T RHETT BROWN PO BOX 159 WINGATE NC 28174 202610272 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 36 36 1690 0 3223803 0 9054364 14072231 135989362 143214385 2802272 6615082 2744060 3487557 150590058 167389255 66909770 72486317 0 0 47536857 45847760 0 0 1260303 39299953 40231255 153746580 158565332 -3156522 8823923 260864195 294754183 89264900 96510194 171599295 198243989 THE MISSION OF WINGATE UNIVERSITY IS TO DEVELOP EDUCATED, ETHICAL, AND PRODUCTIVE GLOBAL CITIZENS. FOLLOWING ITS JUDEO-CHRISTIAN HERITAGE, THE UNIVERSITY SEEKS TO CULTIVATE THE FOLLOWING IN ITS STUDENTS: KNOWLEDGE, FAITH, AND SERVICE. 0 0 128421875 72486317 143228389 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, BALLANTYNE, AND HENDERSONVILLE, NC. THE UNIVERSITY OFFERS 35 UNDERGRADUATE MAJORS, 55 MINORS AND CAREER CONCENTRATIONS, NUMEROUS PRE-PROFESSIONAL PROGRAMS, GRADUATE DEGREES IN BUSINESS, ACCOUNTING, EDUCATION, PHYSICIAN ASSISTANT STUDIES AND SPORT MANAGEMENT, AND DOCTORATES IN PHARMACY, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, AND EDUCATION. DURING FISCAL YEAR ENDED MAY 31, 2021, FALL STUDENT ENROLLMENT WAS 3,654 AND SPRING STUDENT ENROLLMENT WAS 3,339. THE TOTAL NUMBER OF GRADUATES WAS 856. FINANCIAL AID WAS RECEIVED BY 3,681 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 2,936 STUDENTS. 128421875 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 4674 0 1 1690 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 36 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X D PATRICK BIGGERSTAFF 8007555550 PO BOX 159 WINGATE NC 28174 JAN BEATTY-HENDLEY TRUSTEE 0.50 X 0 0 0 AUDLEY L BELL TRUSTEE 0.50 X 0 0 0 RUSSELL W BOOKER TRUSTEE 0.50 X 0 0 0 PATRICK C BROWN TRUSTEE 0.50 X 0 0 0 REBECCA B BULLARD TRUSTEE 0.50 X 0 0 0 G FRANK CAGLE TRUSTEE 0.50 X 0 0 0 WAYNE P COOPER TRUSTEE 0.50 X 0 0 0 G DAVID CUTHERBERTSON TRUSTEE 0.50 X 0 0 0 WILLIAM T CROWDER JR TRUSTEE 0.50 X 0 0 0 DANIEL K DAVIS TRUSTEE 0.50 X 0 0 0 C THOMAS DIXON TRUSTEE 0.50 X 0 0 0 MEREDITH O GALVIN TRUSTEE 0.50 X 0 0 0 KACEY GRANTHAM TRUSTEE 0.50 X 0 0 0 JOHN N HENDLEY TRUSTEE 0.50 X 0 0 0 GREGORY I HINRICHS TRUSTEE 0.50 X 0 0 0 RONALD G HINSON TRUSTEE 0.50 X 0 0 0 CHARLES A HOWARD II TRUSTEE 0.50 X 0 0 0 JOSEPH C HUNTER TRUSTEE 0.50 X 0 0 0 THOMAS J KOONTZ TRUSTEE 0.50 X 0 0 0 PAUL B LITTLE TRUSTEE 0.50 X 0 0 0 JAMES W MASON III TRUSTEE 0.50 X 0 0 0 CAROLYN D MATTHEWS TRUSTEE 0.50 X 0 0 0 LUTHER T MOORE TRUSTEE 0.50 X 0 0 0 MARIA TZEFOS MORTIS TRUSTEE 0.50 X 0 0 0 M LYNN MOSS TRUSTEE 0.50 X 0 0 0 JOSEPH H PATTERSON TRUSTEE 0.50 X 0 0 0 THOMAS E PERRY JR TRUSTEE 0.50 X 0 0 0 CLAUDIA S ROBINETTE TRUSTEE 0.50 X 0 0 0 FONDA SALGUEIRO TRUSTEE 0.50 X 0 0 0 ANDREW T SMART TRUSTEE 0.50 X 0 0 0 ROBERT J SPENCE TRUSTEE 0.50 X 0 0 0 DONALD C TAFT TRUSTEE 0.50 X 0 0 0 JOHNNY L TILLETT TRUSTEE 0.50 X 0 0 0 DOUGLAS E TURNER JR TRUSTEE 0.50 X 0 0 0 DEIDRE S VICK TRUSTEE 0.50 X 0 0 0 EDWARD L WEST TRUSTEE 0.50 X 0 0 0 T RHETT BROWN PRESIDENT 40.00 0.50 X 323023 0 50684 JEFFREY FREDERICK PROVOST 40.00 X 123750 0 33985 ROBERT SUPERNAW INTERIM PROVOST 40.00 X 287548 0 47734 J CRAIG ADDISON SR. VICE PRESIDENT 40.00 X 230184 0 11063 HEATHER C MILLER SR. VICE PRESIDENT 40.00 X 183016 0 43621 BENJAMIN SIDBURY SR. VICE PRESIDENT 40.00 X 62305 0 977 ERIC SCHNEIDER VICE PROVOST 40.00 X 177608 0 20688 DORIEL ARMSTEAD 0421 VICE PRESIDENT 40.00 X 160063 0 21730 STEVEN SHANK VICE PRESIDENT 40.00 X 175000 0 8604 EARL VINCENT TILSON VICE PRESIDENT 40.00 X 163110 0 21836 LISA S MILLER VICE PROVOST 40.00 X 161988 0 43348 2047595 0 304270 75 0 1 0 COMPASS GROUP USA INC (CHARTWELLS) PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 2975575 ARAMARK 1255 CRESSCENT GREEN DR SUITE 210 CARY NC 27518 FOOD SERVICE 2921370 EAB PO BOX 603519 CHARLOTTE NC 282603519 STUDENT RECRUITMENT 2501766 YATES CHREITZBERG HUGHES ARCHITECTS 7035 NORTHWINDS DR NW CONCORD NC 28027 ARCHITECT 2484225 HOSS CONTRACTING PO BOX 968 MONROE NC 28111 BUILDING CONTRACTOR 1292234 23 448340 9452604 4171287 1083029 14072231 TUITION AND FEES 611310 122688028 122688028 HOUSING 611310 11388775 11388775 FOOD SERVICE REVENUE 611310 5478885 5478885 STUDENT FEES & MISC 611310 3247213 3247213 BOOKSTORE REVENUE 611310 411484 411484 143214385 2099710 2099710 249750 0 249750 249750 249750 39387089 349300 34643604 577413 4743485 -228113 4515372 4515372 GOLF COURSE 713910 3223803 3223803 PARKING FEES 611310 9450 9450 CAMPS & CONFERENCES 713940 4554 4554 3237807 167389255 143228389 3223803 6864832 72486317 72486317 1145196 547735 597461 34892696 28415584 5527394 949718 1156319 959745 173448 23126 6048560 5020305 907284 120971 2604989 2162141 390748 52100 183861 183861 141164 141164 358234 358234 21410 17409 4001 1859165 906662 952503 2293971 1261685 1018523 13763 628170 611463 12385 4322 4262695 4262695 7590400 4174720 3415680 391054 156422 234632 FOOD SERVICE 4528375 4528375 UBI EXPENSES FROM GOLF 2657766 2657766 GRADUATE AND PROFESSION 1888688 1888688 PLANT ADMINISTRATION 1669676 1669676 11756626 9812999 1847324 96303 158565332 128421875 28883154 1260303 7964 6971 8916870 20954342 6475384 6649690 3993532 2439770 203129 165876 430333 596612 242030978 88908438 154454501 153122540 84558275 101933643 954451 1011200 869756 7873539 260864195 294754183 3796195 8193790 5750290 4617794 65625771 65227196 1044775 6623545 13047869 11847869 89264900 96510194 X 74696095 81563990 96903200 116679999 171599295 198243989 260864195 294754183 X 8823923 17577114 243657 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 99160577 947605 24078209 4798128 181394 119206869 96803871 2323458 4833024 4629320 170456 99160577 92349063 6216122 1811269 3572583 96803871 90423422 1564910 3833239 3311060 161448 92349063 48586441 37755656 5654752 1429635 143792 90423422 0.07444 0.29509 0.63047 0 0 2066472 14491034 16557506 11090851 162660013 55509174 118241690 13032286 6697621 6334665 34301253 25976784 8324469 4389069 724859 3664210 153122540 X 109909114 17577114 169575 -74778490 -57031801 166940915 448340 448340 167389255 83590825 169575 169575 83421250 75144082 75144082 158565332 PART V, LINE 4: ENDOWMENT FUNDS ARE USED AS DIRECTED BY DONOR STIPULATION AND APPLICABLE LAWS. THESE RESOURCES FUND SCHOLARSHIPS AND GRANTS, PLANT FACILITIES, AND OTHER PROGRAMS AND INITIATIVES THAT FURTHER THE VISION AND MISSION OF THE UNIVERSITY. PART X, LINE 2: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRED ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB). PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 243,657. RECLASSIFICATION OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS -72,486,316. GOLF COURSE EXPENSES NETTED AGAINST REVENUES IN AUDITED FINANCIAL STATEMENTS -2,657,766. CHANGE IN VALUE OF ASSETS OF RELATED ORGANIZATION 121,935. PART XI, LINE 4B - OTHER ADJUSTMENTS: ASSETS TRANSFERRED IN FROM RELATED ORGANIZATION 448,340. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS 72,486,316. GOLF COURSE EXPENSES NETTED AGAINST REVENUES IN AUDITED FINANCIAL STATEMENTS 2,657,766. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 6 TO FURTHER EDUCATIONAL MISSIONS, WINGATE UNIVERSITY RECEIVES FINANCIAL AID AND ASSISTANCE FROM VARIOUS FEDERAL AND STATE PROGRAMS IN SUPPORT OF ITS STUDENTS. 1 ENDOWED SCHOLARSHIPS 1053 4798128 0 RESTRICTED ANNUAL SCHOLARSHIPS 160 341565 0 ATHLETIC SCHOLARSHIPS 522 5873460 0 ACADEMIC SCHOLARSHIPS 2705 57082364 0 NEED BASED SCHOLARSHIPS 321 862646 0 CARES ACT SCHOLARSHIPS 1044 2620570 0 STATE COVID RELIEF 329 541585 0 SEOG GRANTS 131 365999 0 PART I, LINE 2: ELIGIBILITY FOR NEED-BASED SCHOLARSHIPS AND GRANTS IS DETERMINED ANNUALLY BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). ACADEMIC SCHOLARSHIPS ARE AWARDED UPON ENROLLMENT AND ELIGIBILITY IS FOR THE EIGHT SEMESTERS. AT THE END OF EACH SEMESTER, THE FINANCIAL PLANNING DEPARTMENT VERIFIES SATISFACTORY ACADEMIC PROGRESS HAS BEEN MAINTAINED IN ORDER TO DETERMINE CONTINUATION OF ALL SCHOLARSHIPS. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 T RHETT BROWN PRESIDENT 260016 0 0 0 63007 0 16471 0 34213 0 373707 0 0 0 JEFFREY FREDERICK PROVOST 103750 0 20000 0 0 0 5375 0 28610 0 157735 0 0 0 ROBERT SUPERNAW INTERIM PROVOST 287548 0 0 0 0 0 14621 0 33113 0 335282 0 0 0 J CRAIG ADDISON SR. VICE PRESIDENT 225000 0 0 0 5184 0 11063 0 0 0 241247 0 0 0 HEATHER C MILLER SR. VICE PRESIDENT 183016 0 0 0 0 0 9408 0 34213 0 226637 0 0 0 ERIC SCHNEIDER VICE PROVOST 177608 0 0 0 0 0 8845 0 11843 0 198296 0 0 0 DORIEL ARMSTEAD 0421 VICE PRESIDENT 160063 0 0 0 0 0 8075 0 13655 0 181793 0 0 0 STEVEN SHANK VICE PRESIDENT 175000 0 0 0 0 0 8604 0 0 0 183604 0 0 0 EARL VINCENT TILSON VICE PRESIDENT 155910 0 0 0 7200 0 7882 0 13954 0 184946 0 0 0 LISA S MILLER VICE PROVOST 161988 0 0 0 0 0 8358 0 34990 0 205336 0 0 0 PART I, LINE 1A THE PRESIDENT OF THE UNIVERSITY RECEIVES A HOUSING ALLOWANCE WHICH IS INCLUDED IN HIS/HER TAXABLE INCOME. THE PRESIDENT'S SPOUSE CAN TRAVEL WITH THE PRESIDENT AND IS CONSIDERED A REPRESENTATIVE OF THE UNIVERSITY. ALSO, THE UNIVERSITY PROVIDES CLUB MEMBERSHIPS TO CERTAIN KEY INDIVIDUALS FOR RELATIONSHIP BUILDING PURPOSES. DUE TO THE NATURE OF THESE MEMBERSHIPS, THE COSTS ARE INCLUDED IN THE EMPLOYEE'S COMPENSATION. A WISCONSON PUBLIC FINANCE AUTHORITY 273866124 07443DEX5 2018-12-13 66490062 REFINANCE PRIOR BOND ISSUE AND OTHER DEBT; CAPITAL PROJECTS 0 0 0 A 66490062 554169 17277876 48658017 2018 1 1 0 1 A 0 1 0 0 0 0 0 0 0 A 1 X 12 8600 DONOR ADVISED X 250 DONOR ADVISED X 10 913454 FMV X 1 1942 DONOR ADVISED X SOFTWARE 2 144063 DONOR ADVISED X MUSICAL INSTRUMENTS 2 9000 DONOR ADVISED X EQUIPMENT 1 2500 DONOR ADVISED X COSTUMES 1 2000 DONOR ADVISED X CONSTRUCTION MATERIALS 1 785 INVOICE X PLAQUES 1 435 INVOICE 0 0 1 1 PART I, COLUMN (B): THE NUMBER INCOLUMN B REFLECTS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: THE ORGANIZATION USES A REAL ESTATE AGENT TO SELL CONTRIBUTED REAL PROPERTY. FORM 990, PART VI, SECTION A, LINE 4 THE BOARD CALENDAR TRANSITIONED TO ALIGN WITH THE UNIVERSITY'S FISCAL YEAR (JUNE 1 - MAY 31). ELECTIONS, COMMITTEE ROLES/ASSIGNMENTS, ETC. NOW FOLLOW THE UNIVERSITY'S FISCAL YEAR. WE ELIMINATED THE EXECUTIVE ADVISORY COMMITTEE, AND ROLLED THOSE DUTIES INTO THE EXECUTIVE COMMITTEE. THE BYLAWS ALLOW FLEXIBILITY TO APPOINT ADDITIONAL STANDING, SPECIAL, OR AD HOC COMMITTEES WITHOUT HAVING TO AMEND THE BYLAWS IN THE FUTURE: "THE EXECUTIVE COMMITTEE MAY AUTHORIZE AND ESTABLISH OTHER STANDING OR SPECIAL COMMITTEES FROM TIME TO TIME, INCLUDING TASK FORCES TO CONSIDER STRATEGIC PRIORITIES PROPOSED BY THE ADMINISTRATION OR BOARD." THE BYLAWS REFLECT FOUR (INSTEAD OF THREE) FULL MEETINGS AND COMMITTEE MEETINGS PER YEAR, BUT ENCOURAGE THAT SOME OF THE MEETINGS BE HELD VIRTUALLY TO OFFSET THE ADDITIONAL TIME COMMITMENTS. TERM LIMITS WERE ADJUSTED. THE PREVIOUS BYLAWS HAD TERM LIMITS OF THREE (3) CONSECUTIVE FOUR-YEAR TERMS, BUT NOT TERM LIMITS FOR TRUSTEES WHO HAVE BEEN SERVING SINCE BEFORE JAN. 1, 2012. FOR TRUSTEES SERVING SINCE BEFORE JAN. 1, 2012, THE BYLAWS WERE AMENDED TO ALLOW TRUSTEES TO FINISH THEIR CURRENT TERM AND HAVE ONE ADDITIONAL FOUR-YEAR TERM. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO SUBMISSION. THE 990 IS THEN PROVIDED TO THE BOARD MEMBERS AND DISCUSSED IN A MEETING OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL TRUSTEES AND KEY EMPLOYEES. EACH PERSON INFORMS WINGATE OF ANY POSSIBLE CONFLICT ON THE FORM THEY SIGN. THE CONFLICT OF INTEREST POLICY APPLIES ON MAJOR CONTRACTUAL ARRANGEMENTS WHERE OFFICERS, TRUSTEES, OR KEY EMPLOYEES HAVE AN INTEREST; TOTAL DISCLOSURE TO DECISION MAKER IS MADE. THE AFFECTED INDIVIDUAL RECUSES HIM/HERSELF FROM PARTICIPATING IN DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY WAS ADVISED BY A COMPENSATION AND BENEFITS OUTSIDE ADVISOR TO REVIEW AND DISCUSS THE RESULTS OF PRESIDENTIAL COMPENSATION OF A PEER GROUP OF UNIVERSITIES IN NORTH AND SOUTH CAROLINA WITH THOSE AT WINGATE UNIVERSITY. THE UNIVERSITY AND CONSULTANT DISCUSSED THE RESULTS AND CONCLUDED THAT THE COMPENSATION FOR THE PRESIDENT WAS CONSISTENT WITH THE PEER GROUP, AS WELL AS APPROPRIATE IN THE CONTEXT OF MARKET CONDITIONS FOR HIGHER EDUCATION IN THE CAROLINAS. ON THE BASIS OF THESE FINDINGS, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES APPROVED PRESIDENT'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 243,657. FORM 990, PART XI, LINE 2C, AUDIT COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. WINGATE REAL ESTATE HOLDINGS LLC PO BOX 159 WINGATE NC 28174 HOLD WINGATE HOLDINGS LLC & WINGATE HOLDINGS II LLC TO OPERATE GOLF COURSES NC 2342053 10658920 WINGATE UNIVERSITY WINGATE UNIVERSITY FOUNDATION PO BOX 159 WINGATE NC 28174 561559907 ORGANIZED SOLELY FOR THE BENEFIT OF WINGATE UNIVERSITY NC 501(C)(3) LINE 12A, I WINGATE UNIVERSITY 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 WINGATE FOUNDATION C 448340 CASH