2020-10-26T10:34:24-07:00 2020-06-30 990 2019-07-01 570314415 SPARTANBURG METHODIST COLLEGE SPAR 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Eric McDonald VP for Business Affairs 8645874200 2020-10-26 192.251.181.31 2019 2021-01-29 14:40:06Z Scott Cochran 1000 Powell Mill Road Spartanburg SC 29301 23161865 0 X www.smcsc.edu X 1911 SC Spartanburg Methodist College is a private residential institution offering associate and baccalaureate degrees within the United Methodist Connection. At SMC, lives are transformed in a values-oriented, student-centered atmosphere in the Christian tradition that encourages academic excellence, intellectual exploration, social awareness, and character development within the liberal arts tradition. The academic program offers students the option of transferring to a four-year college or university for continued study or entering a career after graduation. The curriculum ranges from the basic liberal arts and transfer program to preparation for immediate entry into the job market through career track and baccalaureate degree options. The College offers to a wide variety of students the opportunity of higher education by providing a competent and dedicated faculty, distance learning options, financial assistance, work-study positions, and special support programs. 21 21 317 65 0 0 1635368 3454395 19018963 19091185 572190 504109 36021 50188 21262542 23099877 5901334 6568861 0 0 7632430 8970173 0 0 481745 7906046 7722333 21439810 23261367 -177268 -161490 51673874 52461540 9327865 9798501 42346009 42663039 Spartanburg Methodist College will be the college of choice for residential or commuting students who desire the advantages of a church-related organization. We will offer motivated students a liberal arts education in preparation for the senior college experience and lifelong learning through relevant and challenging academic programs, campus leadership opportunities, and strong athletic programs. We will do this in an environment of community and caring, where each student is respected as an individual with unique needs and is encouraged to achieve his or her fullest potential. 0 0 14443156 6568861 15252185 Higher Education: SMC is a private, church-related (United Methodist) institution of higher education. The College provides instruction to approximately 1000 liberal arts students. 3424854 3839000 The College provides housing and food service to students for a fee and is a member of the NJCAA for athletic purposes. Auxiliary enterprises consist of the revenues and expenses related to these areas. 0 0 0 17868010 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 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 0 1 0 0 0 1 65 0 1 317 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Eric McDonald 8645874200 1000 Powell Mill Road Spartanburg SC 29301 William S Cochran President of the College 60 0 X 281819 0 31140 Eric McDonald VP of Business Affairs 45 0 X 115227 0 17709 Dr Mark Gibbs VP for Academic Affairs 45 0 X 113920 0 17587 Jennifer Dillenger VP for Institutional Advancement 45 0 X 99842 0 11567 Benjamin Maxwell VP for Enrollment Management 45 0 X 103333 0 4521 Lisa Ware VP for Marketing 45 0 X 93015 0 10353 Courtney Shelton VP for Professional Development and Design 45 0 X 67042 0 9076 Megan Aiello Athletic Director 45 0 X 63442 0 8597 Tim Drum Chaplain 45 0 X 34599 0 23187 Jim Thompson Chairperson of the Board 1 0 X X 0 0 0 Kathleen McKinney Vice Chair of the Board 1 0 X X 0 0 0 John Moore Recording Secretary 1 0 X X 0 0 0 Charlita Atchison Board Member 1 0 X 0 0 0 Andrew Babb Board Member 1 0 X 0 0 0 Phillip Buchheit Board Member 1 0 X 0 0 0 Carol Burdette Board Member 1 0 X 0 0 0 Darrell Campbell Board Member 1 0 X 0 0 0 Jerry Gadsden Board Member 1 0 X 0 0 0 Lane Glaze Board Member 1 0 X 0 0 0 Catherine Gramling Board Member 1 0 X 0 0 0 Pat Henry Board Member 1 0 X 0 0 0 D Mitchell Houston Board Member 1 0 X 0 0 0 Frank Lee Board Member 1 0 X 0 0 0 Evelyn Middleton Board Member 1 0 X 0 0 0 Marilyn Murphy Board Member 1 0 X 0 0 0 Darryl Owings Board Member 1 0 X 0 0 0 John Ramsey Board Member 1 0 X 0 0 0 Harriet Rucker Board Member 1 0 X 0 0 0 W Guy Spriggs Board Member 1 0 X 0 0 0 Mary Teasley Board Member 1 0 X 0 0 0 972239 0 133737 4 0 1 0 Pioneer College Caterers 1000 Powell Mill Road Spartanburg SC 29301 Food Service 1536885 Tree of Life Bookstores 1500 South Western Avenue Marion IN 46953 Bookstore operations 679173 Media Cross Inc 2001 S Hanley Rd St Louis MO 63144 Marketing 234054 Roebuck Wholesale Nursery and Landscaping PO Box 1053 Roebuck SC 29376 Landscaping and grounds 213706 GCA Services Group PO Box 534198 Atlanta GA 30353 Cleaning services 204723 8 0 0 0 0 1445101 2009294 73273 3454395 Tuition 900099 15222283 15222283 0 0 Auxiliary 611710 3839000 3839000 0 0 Transcripts 900099 7527 7527 0 0 22375 22375 0 0 19091185 504048 0 0 504048 0 0 0 0 0 0 0 0 50188 0 0 0 50188 0 50188 0 0 50188 62049 0 61988 0 61 0 61 0 0 61 0 0 23099877 19091185 0 554297 0 0 6568861 6568861 0 0 0 0 1178661 382615 680659 115387 0 0 0 0 6401449 5082192 1153822 165435 209559 149596 51403 8560 661871 472484 162351 27036 518633 383710 115640 19283 0 0 0 0 20638 0 20638 0 72820 0 72820 0 0 0 0 0 0 0 74342 0 74342 0 401732 195614 205928 190 633921 30096 603825 0 363383 237417 121671 4295 326339 200 326139 0 0 0 0 0 927050 914900 12150 0 348965 264567 79896 4502 0 0 0 0 41407 30118 9317 1972 208993 0 208993 0 0 0 0 0 1434437 1147549 229510 57378 326785 90184 236601 0 Library Books and Audio-Visuals 40271 40271 0 0 Food Service 1156246 1156246 0 0 Public Relations and Recruitment 30740 7848 13300 9592 Student Life and Services 422484 344275 78209 0 891780 369267 454398 68115 23261367 17868010 4911612 481745 1100 1100 2999424 4519370 392158 311459 621199 784493 0 0 0 0 185830 401598 6054 22447 92794 2617 46354912 23070297 24258557 23284615 22134683 22175143 0 0 0 0 0 0 982075 958698 51673874 52461540 232524 235976 0 0 662493 1732533 7814232 7232358 18269 22604 0 0 0 0 0 0 600347 575030 9327865 9798501 X 23002136 22893203 19343873 19769836 42346009 42663039 51673874 52461540 X -161490 497948 0 0 0 -19428 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 23154246 737397 897099 1285802 0 0 23502940 22970853 372965 1039848 1229420 0 0 23154246 21970490 218609 1987402 1205648 0 0 22970853 20579484 551226 2329063 1489283 0 0 21970490 21665468 726425 -664378 1148031 0 0 20579484 0.19 0.65 0.16 1 0 0 137910 137910 0 37749910 17413326 20336584 0 0 0 0 0 4983502 3920467 1063035 0 3483590 1736504 1747086 23284615 0 Leases Payable 91905 Annuities Payable 483125 575030 X 17596502 497948 0 0 0 497948 17098554 74342 5926981 6001323 23099877 17279472 0 0 0 0 0 17279472 74342 5907553 5981895 23261367 Schedule D, Part IV, Line 2b The College maintains funds for various student/faculty groups. These funds are to be held by the College and can be accessed by the various groups as needed. Schedule D, Part V, Line 4 The majority of the endowment funds are donor restricted to provide scholarship assistance to students. A few endowments are donor designated to support SMC programs and building maintenance. Schedule D, Part X, Line 2 The College follows the provisions of FASB guidance on income taxes related to the accounting for uncertainty in income taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements by prescribing 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. The College's policy is to record a liability for any tax position taken that is beneficial to the College, including any related interest and penalties, when it is more likely than not the position taken by management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of June 30, 2020 and 2019 and, accordingly, no liability has been accrued. Schedule D, Part XI, Line 4b Tuition discounts of $5,907,553 plus the change in the value of split interest agreements of $28,304 plus the change in the valuation of pledges of ($8,876) Schedule D, Part XII, Line 4b Tuition discounts of $5,907,553 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 statement is on the homepage of the Spartanburg Methodist College website. Schedule E, Part I, Line 6 The College receives PELL, SEOG, work study, student loans, tuition grants, LIFE and Lottery scholarship funds from government agencies for tuition. 1 Scholarships and grants awarded from Spartanburg Methodist College and student portion of CARES funding 902 0 6568861 Schedule I, Part I, Line 2 Students submit the Federal FAFSA and this form is reviewed to award scholarships and other tuition discounts. Students also receive awards based on service (athletics) as well as academic or extracurricular activities. The Director of Financial Aid and the VP of Enrollment appropriate records to substantiate any financial assistance students receive. That information is subject to annual audit under OMB A-133 for any federal money the school receives. Awards are credited to students' accounts. Accounts are reconciled throughout the year. X 1 1 X X X 0 0 0 0 0 0 0 0 0 William S Cochran President of the College 229068 0 50000 0 2751 0 14500 0 13889 0 310208 0 0 Schedule J, Part I, Line 1a The College provides membership for the President to a local social club. That membership is primarily for the benefit of the College as only individuals (not institutions) can be members. This gives the College access to use the club's facilities for College hosted events. This is treated as a non-taxable benefit. A Edu Facilities Authority 576000286 836896FZ8 2005-08-11 6000000 Construction and renovation of educational facilities 0 0 0 B Edu Facilities Authority 576000286 836896FZ8 2010-12-16 7000000 Construction and renovation of educational facilities 0 0 0 A 3650000 0 6000000 0 0 0 154368 38901 0 5845632 0 0 2006 0 0 1 1 B 2033555 0 7000000 0 0 0 113154 0 0 6886846 0 0 2012 0 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 1 1 0 0.0188 0 0.0188 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 X 4 61988 FMV X Gift cards, tickets, etc. 52 11285 FMV 0 0 1 0 Form 990, Part VI, Section A, Line 2 There is a family relationship between two board members Andrew Babb and Phillip Buchheit. Form 990, Part VI, Section B, Line 11b The IRS form 990 is reviewed by an independent accounting firm after being prepared by the Controller. The Audit and Finance Committee of the Board of Trustees is presented the 990 for review and final approval. A copy of the approved form 990 is provided to the entire board prior to filing. Form 990, Part VI, Section B, Line 12c The Conflict of Interest Statement is distributed annually at a board meeting. The Administrative Assistant to the President documents that all board members return a signed copy of the statement. In the event of a conflict, a board member will recuse themselves on voting matters related to their conflicts. Form 990, Part VI, Section B, Line 15 (a) The College President's salary and benefits package is reviewed annually by the Executive Committee of the Board of Trustees. They consider the President's evaluation from all the Vice-Presidents, the manner and effectiveness with which the President has executed his duties, and the comparable compensation of the Presidents at similar institutions in the southeast. Discussions of the President's compensation are documented in the minutes. (b) The Officers of the College are evaluated by the President annually. These evaluations are written and reviewed in private consultation with each Officer. The salaries are based on market values for similar positions at comparative schools in the region and in keeping with the historical trends at the College. To obtain this data the school purchases the CUPA salary study for colleges of similar size for comparison. Form 990, Part VI, Section C, Line 19 The President of the College receives and responds to all requests for the governing documents, conflict of interest policy and financial statements. Form 990, Part XI, Line 9 Change in the value of split interest agreements of ($28,304) plus the change in the valuation of pledges $8,876. Delapp Charitable Remainder Unitrust 1000 Powell Mill Road Spartanburg SC 29301 576166745 Trust SC Spartanburg Methodist College T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0