2022-05-31T13:02:02-05:00 2020-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 105 Lawrenceville GA 30043 990 2019-07-01 570314390 Erskine College and Theological Seminary ERSK 8643798812 PO Box 338 Due West SC 29639 Dr Steven Adamson President 8643798812 2022-05-31 1 Ted R Batson Jr P00721951 5055022746 2019 2022-09-23 18:48:47Z Dr Steven Adamson PO Box 338 Due West SC 29639 59479316 0 X www.erskine.edu X 1837 SC Christian liberal arts college and graduate theological seminary. 18 18 467 21 0 0 1982682 3838065 27317273 36316115 -1074112 1717075 43990 40938 28269833 41912193 15464014 20704374 0 0 8808989 9625355 0 0 220830 10442412 12013160 34715415 42342889 -6445582 -430696 75442460 74254576 21946721 22144303 53495739 52110273 X Erskine College exists to glorify God as a Christian academic community where students are equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education. 0 0 36893729 20704374 36316115 Erskine College is a comprehensive, fully accredited, Christian college and theological seminary offering undergraduate, master's, and doctoral degrees to approximately 1,000 students. The college program offers 21 baccalaureate majors, and the seminary offers 4 master's degrees and a doctor of ministry degree. Scholarships are awarded to eligible students based on financial need and academic merit allowing students to be equipped to flourish as whole persons for lives of service through the pursuit of undergraduate liberal arts and graduate theological education in a Christ-centered environment.The Institution conducted auxiliary enterprises for the convenience of students, faculty, staff, and the at-large community. 36893729 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1186 0 1 467 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 1 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Shelby Crowley 8643798812 PO Box 338 Due West SC 29639 X Dr RE Gustafson Jr President 45.00 X 150000 0 16385 Mr C M Habeger VP Fin/Ops, Treasurer 45.00 X 84375 0 1828 Mrs NG Jones Assistant Secretary 40.00 X 40089 0 9705 Mrs JE Gazzaway Trustee - Chair 2.00 X X 0 0 0 The Rev CH Davis Trustee - Vice-Chair 2.00 X X 0 0 0 Mrs CT Davis Trustee - Secretary 2.00 X X 0 0 0 The Rev BF Bult Trustee 2.00 X 0 0 0 Dr SL Gray Trustee 2.00 X 0 0 0 Dr GS Query Trustee 2.00 X 0 0 0 Dr JR Augustine Trustee 2.00 X 0 0 0 Mr CL Bethea Trustee 2.00 X 0 0 0 The Rev JA Hunt Trustee 2.00 X 0 0 0 Mr PW Malphrus Trustee 2.00 X 0 0 0 Dr AJ Broyles Trustee 2.00 X 0 0 0 Mr MD Davis III Trustee 2.00 X 0 0 0 Mr RG McDonald Trustee 2.00 X 0 0 0 The Rev LA Shelnutt Trustee 2.00 X 0 0 0 The Rev SM Cox Trustee 2.00 X 0 0 0 Dr JC Bouwkamp Trustee 2.00 X 0 0 0 Dr AC Campbell Trustee 2.00 X 0 0 0 Mr MS Whitehurst Trustee 2.00 X 0 0 0 The Rev Dr DP Smith Trustee (part year) 2.00 X 0 0 0 274464 0 27918 1 0 1 0 Aramark Campus Services PO Box 978839 Dallas TX 75397 Dining Hall Services 2317053 Aramark Facilities Services PO Box 978839 Dallas TX 75397 Facilities/Grounds Maintenance 2160449 Cox Builders 980 Beaverdam Rd Williamston SC 29697 Building Construction/ Remodeling 467499 EBSCO Subscription Services PO Box 204661 Dallas TX 75320 Library Subscriptions 169630 McDonald Patrick Poston PO Box 1547 Greenwood SC 29648 Legal Services 139567 5 446954 2166484 1224627 78264 3838065 Student Tuition & Fees 611710 28253695 28253695 Auxiliary Enterprises 611710 7761715 7761715 Bookstore 611710 74782 74782 225923 225923 36316115 997864 997864 43520 2582 40938 40938 40938 18283752 17564541 719211 719211 719211 41912193 36316115 0 1758013 20704374 20704374 337712 337712 7722048 6225712 1381234 115102 64096 49655 13139 1302 771235 626844 130176 14215 730264 574082 147203 8979 65345 65345 92804 92804 599 599 118308 118308 101117 48797 51462 858 601559 198818 353199 49542 160067 160067 383484 360515 22969 87471 42422 39381 5668 588743 464577 124166 1036865 823011 213854 465252 224523 236783 3946 Food Service 2722411 2722411 Facility Management 2216663 1749170 467493 Athletic Teams 1036909 1036909 Textbook Costs 74472 74472 2261091 967437 1272436 21218 42342889 36893729 5228330 220830 987551 927374 135695 102697 898180 1485081 53890 80082 128480 76466 60686730 33073230 25091433 27613500 37775613 32048939 8649081 10247102 794601 689132 927936 984203 75442460 74254576 2037970 2048333 411252 186391 12101239 12594920 1842394 2694500 5553866 4620159 21946721 22144303 X 11477052 10821292 42018687 41288981 53495739 52110273 75442460 74254576 X -430696 -1007008 52238 X 0 1 X 1 1 1 X 2129239 3892137 1554141 1982682 3838065 13396264 2129239 3892137 1554141 1982682 3838065 13396264 208631 13187633 894031 1011610 1527625 1277119 1041384 5751769 13900 7360 6660 5200 33120 19181153 147408231 0.68750 0.65200 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Event Income - 2016 Amount: $ 7,360. 2017 Amount: $ 6,660. 2018 Amount: $ 5,200. Other Income - 2015 Amount: $ 13,900. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 599 0 0 0 599 0 Part II-B, Line 1: The portion of memberships dues designated as lobbying expenditures. X 8 0.00 8 0 0 1 0 0.00 0 927936 X X 0 43443908 35417 695847 2569100 41606072 39888474 236982 5399509 2081057 43443908 38616058 108381 3455690 2291655 39888474 35311874 839700 4239749 1775265 38616058 37882833 313334 -1014114 1870179 35311874 0.06740 0.93260 0 0 1870000 953048 2823048 44402731 23300834 21101897 10843140 9017084 1826056 2617811 755312 1862499 27613500 Cash Surrender Value of Life Insurance 29364 F US Government Securities 3313682 F Other Fixed Income Investments 3644717 F Alternative Investments 182338 C Pooled Income Funds 45299 F Partnership Interest Convertible to Loan Receivable 1000000 F Mineral rights 630850 F Money market mutual funds 1400852 F 10247102 US Government Loan Funds - Refundable 494025 Annuities Payable 591966 Interest Rate Swap Liability 492079 Trust Liabilities 2492530 Asset Retirement Obligations 311320 Capital Lease 238239 4620159 20377005 -1007008 117812 -889196 21266201 118308 20527684 20645992 41912193 21762471 2582 2582 21759889 118308 20464692 20583000 42342889 Part II, Line 9: Revenues/expenses from conservation easements are not separately reported on the Statement of Activities, and the easements are not separately presented on the Statement of Financial Position. Part III, Line 4: The College maintains an art center that displays works of art including paintings, music boxes, furniture, and other items to the public. The collection enriches the campus community and provides the art students (stuido artists and art history majors) with examples of various art mediums used in classroom instruction. The College displays the artwork free of charge to the public. Part V, Line 4: The College's endowment intends to provide scholarships to students, help fund department chairs, and fund other restricted program expenses. Part XI, Line 2d - Other Adjustments: Unrealized Gain on Interest Rate Swap 115,230. Rental Expenses 2,582. Part XI, Line 4b - Other Adjustments: Scholarships and Other Aid 20,464,692. Change in Value of Trusts and Annuities 62,992. Part XII, Line 2d - Other Adjustments: Rental Expenses 2,582. Part XII, Line 4b - Other Adjustments: Scholarships and Other Aid 20,464,692. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization publicized its racially nondiscriminatory policy on the homepage of its website at all times during the taxable year in a manner reasonably expected to be noticed by visitors. The policy is also made available through local print media outlets and college and seminary catalogs. Schedule E, Part I, Line 6 The College receives Federal and State funds to provide financial aid for students. The College also received financial assistance from the Higher Education Emergency Relief Funds (HEERF) and the Paycheck Protection Program as part of the CARES Act. 1 Scholarships 916 17642793 Athletic Scholarships 141 2821899 HEERF grants 624 239682 Part I, Line 2: The College monitors enrollment and the Financial Aid Office of the College keeps the requisite records in either an electronic or hard copy form. No cash changes hands and funds are directly tied to student accounts. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Dr RE Gustafson Jr President 150000 0 0 0 0 0 0 0 16385 0 166385 0 0 0 Part I, Line 1a Housing Allowance & Personal Services: As a condition of employment, and as a convenience to the University, the President is provided a home on University grounds. The University also provides grounds care and housekeeping for the home since the President hosts functions for the University at his home. The home is provided as a nontaxable benefit to the President. X 7 78264 Selling Price 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The governing body delegates broad authority to an Executive Committee consisting of the Board Officers and Board Committee Chairs. The Executive Committee has full power and authority to act and to transact any business for and on behalf of the College and in the place of the Board of Trustees during the interim between meetings of the Board of Trustees except the Executive Committee may not appoint or remove Corporate Officers, nor make a bulk sale, dissolve the corporation, alter Bylwas, or authorize degrees. Form 990, Part VI, Section A, line 4 The bylaws were updated to be consistent with the General Synod of the Associated Reformed Presbyterian Church's Manual of Authorities and Duties regarding the number of board members and board composition. Form 990, Part VI, Section A, line 7a The College is an institution of the General Synod of the Associate Reformed Presbyterian Church (ARPC). The ARPC appoints the College's trustees and must approve all changes or amendments to the College's charter. Form 990, Part VI, Section A, line 7b See explanation for Part VI, Section A, Line 7a. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The organization requires all officers and board members to complete conflict of interest forms on an annual basis. All other institution staff complete the forms ever other year. These forms are reviewed by management and a report is given to the Board of Trustees each year at the February meeting. If a conflict of interest were to arise, all material facts are disclosed to the Committee on Trustees; the proposed contract, transaction, or relationship is examined to determine if it is in the best interest of the college, and the decision is documented; and the individual who has an interest excuses him/herself from the discussion preceding the vote and the vote to approve the proposed contract or transaction. Form 990, Part VI, Section B, line 15 Line 15a - The President's compensation is reviewed on an annual basis as part of a performance review by the Executive Committee. Compensation is compared against information obtained from Form 990s of other institutions similar in size to Erskine. The process includes contemporaneous substantiation of the deliberation and decision. Line 15b - The President negotiates and sets the compensation for other officers. Compensation is compared against other institutions similar in size to Erskine. This process is documented. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part VII, Section A, Line 1a: Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C. Form 990, Part XI, line 9: Unrealized Gain on Interest Rate Swap 115,230. Change in Value of Split-Interest Agreements -62,992. General Synod of the Associate Reformed Presbyterian Church 1 Cleveland St Ste 110 Greenville SC 29601 576030380 Convention of churches SC 501(c)(3) Line 1 N/A 0 Charitable remainder unitrust (6) Trust SC Erskine College and Theological Seminary 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0