2019-01-18T16:08:17-06:00 2018-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2017-06-01 566049935 WINGATE UNIVERSITY WING 7042338000 PO BOX 159 WINGATE NC 28174 MR J CRAIG ADDISON CFO 7042338000 2019-01-18 1 YONG ZHANG P01249785 3362724551 108.171.131.186 2019-01-18 17:08:07 ES P 75C36B17B212965765F9B2A53872F996115D7FF8 0A69938EF72AF66B88F5CAF1E5AF791574EF2538 2017 2019-02-21 02:37:17Z DR T RHETT BROWN PO BOX 159 WINGATE NC 28174 167751403 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 36 36 1601 51 599313 -55181 42636635 12730741 97804008 121089620 916232 4032522 703448 1146293 142060323 138999176 39043683 52638635 0 0 40639289 42751233 0 0 1737083 29479116 35036897 109162088 130426765 32898235 8572411 213153614 237490952 56269999 70129480 156883615 167361472 THE MISSION OF WINGATE UNIVERSITY IS TO DEVELOP EDUCATED, ETHICAL, AND PRODUCTIVE CITIZENS AT HOME AND ABROAD. FOLLOWING ITS JUDEO-CHRISTIAN HERITAGE, THE UNIVERSITY SEEKS TO CULTIVATE THE FOLLOWING IN ITS STUDENTS: KNOWLEDGE, FAITH, AND SERVICE. 0 0 100939602 52638635 121371721 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, BALLANTYNE, AND HENDERSONVILLE, NC. THE UNIVERSITY OFFERS 35 UNDERGRADUATE MAJORS, 35 MINORS AND CAREER CONCENTRATIONS, NUMEROUS PRE-PROFESSIONAL PROGRAMS, GRADUATE DEGRESS IN BUSINESS, ACCOUNTING, EDUCATION, PHYSICIAN ASSISTANT STUDIES AND SPORT MANAGEMENT, AND DOCTORATES IN PHARMACY, PHYSICAL THERAPY, AND EDUCATION. DURING FISCAL YEAR ENDED MAY 31, 2018, FALL STUDENT ENROLLMENT WAS 3,149 AND SPRING STUDENT ENROLLMENT WAS 2,952. THE TOTAL NUMBER OF GRADUATES WAS 696. FINANCIAL AID WAS RECEIVED BY 3,207 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 2,415 STUDENTS. 100939602 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 4834 0 1 1601 1 1 1 0 0 0 0 1 1 0 0 0 0 X 36 36 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X MR J CRAIG ADDISON 7042338218 220 N CAMDEN WINGATE NC 28174 DANNY K DAVIS TRUSTEE 0.50 X 0 0 0 AGNES B GOLDSTON TRUSTEE 0.50 X 0 0 0 GREGORY I HINRICHS TRUSTEE 0.50 X 0 0 0 THOMAS J KOONTZ TRUSTEE 0.50 X 0 0 0 CLAUDIA S ROBINETTE TRUSTEE 0.50 X 0 0 0 DONALD C TAFT TRUSTEE 0.50 X 0 0 0 WINDELL L TALLEY TRUSTEE 0.50 X 0 0 0 JAMES C WILSON TRUSTEE 0.50 X 0 0 0 REBECCA B BULLARD TRUSTEE 0.50 X 0 0 0 WAYNE P COOPER TRUSTEE 0.50 X 0 0 0 WILLIAM T CROWDER TRUSTEE 0.50 X 0 0 0 JAMES C FURMAN TRUSTEE 0.50 X 0 0 0 JOHN N HENDLEY TRUSTEE 0.50 X 0 0 0 JAMES W MASON TRUSTEE 0.50 X 0 0 0 LUTHER T MOORE TRUSTEE 0.50 X 0 0 0 PATRICK D PHILMON TRUSTEE 0.50 X 0 0 0 JOHNNY L TILLETT TRUSTEE 0.50 X 0 0 0 CALEB H BARNHARDT TRUSTEE 0.50 X 0 0 0 RUSSELL W BOOKER TRUSTEE 0.50 X 0 0 0 G FRANK CAGLE TRUSTEE 0.50 X 0 0 0 CECIL THOMAS DIXON TRUSTEE 0.50 X 0 0 0 CHARLES A HOWARD TRUSTEE 0.50 X 0 0 0 JOSEPH C HUNTER TRUSTEE 0.50 X 0 0 0 FONDA SALGUEIRO TRUSTEE 0.50 X 0 0 0 ANDREW THOMAS SMART TRUSTEE 0.50 X 0 0 0 DEIDRE S VICK TRUSTEE 0.50 X 0 0 0 MEREDITH O GALVIN TRUSTEE 0.50 X 0 0 0 RONALD G HINSON TRUSTEE 0.50 X 0 0 0 PAUL B LITTLE TRUSTEE 0.50 X 0 0 0 CAROLYN D MATTHEWS 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 TRUSTEE 0.50 X 0 0 0 DOUGLAS E TURNER TRUSTEE 0.50 X 0 0 0 EDWARD L WEST TRUSTEE 0.50 X 0 0 0 EVELYN W BINGHAM TRUSTEE 0.50 X 0 0 0 ARNOLD A CULBRETH TRUSTEE 0.50 X 0 0 0 C C DICKSON TRUSTEE 0.50 X 0 0 0 ELONA L EDWARDS TRUSTEE 0.50 X 0 0 0 WILLIAM F HARRIS TRUSTEE 0.50 X 0 0 0 DON HILL TRUSTEE 0.50 X 0 0 0 THOMAS J KEAN TRUSTEE 0.50 X 0 0 0 H JOE KING TRUSTEE 0.50 X 0 0 0 JACK C LAIL TRUSTEE 0.50 X 0 0 0 E LAZELLE MARKS TRUSTEE 0.50 X 0 0 0 DURAN G MCDONALD TRUSTEE 0.50 X 0 0 0 JIMMY K STEGALL TRUSTEE 0.50 X 0 0 0 W H SWAN TRUSTEE 0.50 X 0 0 0 EVELYN V TAYLOR TRUSTEE 0.50 X 0 0 0 THOMAS E WILLIAMS TRUSTEE 0.50 X 0 0 0 T RHETT BROWN PRESIDENT 40.00 0.50 X 353824 0 41446 HANNAH DICKERSON VICE PRESIDENT 40.00 X 116649 0 27544 WILLIAM H DURHAM VICE PRESIDENT 40.00 0.50 X 188763 0 34542 SCOTTY HUNSUCKER VICE PRESIDENT 40.00 X 142197 0 23606 HEATHER MILLER VICE PROVOST 40.00 X 149373 0 31221 ROBERT STEPHEN POSTON VICE PRESIDENT 40.00 X 146073 0 17202 NANCY H RANDALL VICE PRESIDENT 40.00 X 141480 0 21191 ROBERT SUPERNAW VICE PRESIDENT 40.00 X 316135 0 43907 HELEN TATE VICE PRESIDENT 40.00 X 216130 0 22906 EARL VINCENT TILSON VICE PRESIDENT 40.00 X 171162 0 19041 KEVIN BRUIELLY DIRECTOR 40.00 X 149918 0 32635 CAROLYN FORD PROFESSOR 40.00 X 147114 0 18447 SAMIR KOUZI PROFESSOR 40.00 X 142525 0 32304 MICHAEL MANOLAKIS PROFESSOR 40.00 X 126488 0 31451 ERIC SCHNEIDER PROFESSOR 40.00 X 138602 0 19055 2646433 0 416498 67 0 1 0 ARAMARK SERVICES INC 1255 CRESCENT GREEN DR STE 210 CARY NC 27318 FOOD SERVICE 5421086 CM BLACK CONSTRUCTION COMPANY 797 DAVIDSON DRIVE NE CONCORD NC 28025 CONSTRUCTION 2552391 MARTIN CONTRACTING NC LLC 2824 SMITHFIELD DR MONROE NC 28110 CONSTRUCTION 2418104 ROYALL & COMPANY PO BOX 603519 CHARLOTTE NC 28260 STUDENT RECRUITING 1078972 YATES CHREITZBERG HUGHES ARCHITECTS 70350NORTHWINDS DR NW CONCORD NC 28025 ARCHITECTS 543725 15 51348 12679393 8821562 12730741 TUITION AND FEES 611310 98653253 98653253 HOUSING 611310 19385699 19385699 STUDENT FEES & MISC 611310 1792049 1792049 BOOKSTORE REVENUE 611310 1054267 1054267 FOOD SERVICE REVENUE 611310 204352 204352 121089620 1382740 1382740 173214 0 173214 173214 173214 31090073 260709 28444141 256859 2645932 3850 2649782 2649782 142892 51348 51227 91665 91665 GOLF COURSE 713910 549572 549572 CAMPS & CONFERENCES 713940 160236 110495 49741 ATHLETIC INCOME 611310 131731 131731 39875 39875 881414 138999176 121371721 599313 4297401 52638635 52638635 1930504 970367 839096 121041 31946667 26578546 4641701 726420 2006716 1645507 301007 60202 4516142 3703236 677421 135485 2351204 1927987 352681 70536 191345 191345 103726 103726 229002 229002 57768 57768 627430 627430 2666081 1386362 1279719 1593422 1429873 81113 82436 1411010 1411010 6571352 6571352 329351 131740 197611 FOOD SERVICE 5238260 5238260 PLANT ADMINISTRATION 2572775 2572775 GRADUATE AND PROFESSION 2033303 2033303 CAMPUS STORE 1098185 1098185 10313887 8494046 1278878 540963 130426765 100939602 27750080 1737083 8216 18313 10763611 9443569 39476055 22828562 2367354 2366370 492125 164523 690762 1876382 200134051 69497958 104130939 130636093 52882120 66304562 1440254 1183613 902178 2668965 213153614 237490952 4372760 6979359 5325216 5824456 24000000 32220554 433347 943382 22138676 24161729 56269999 70129480 X 70049384 76155199 22859848 25702685 63974383 65503588 156883615 167361472 213153614 237490952 X 8572411 145244 1760202 X X 0 1 X 1 1 1 X 90423422 1564910 3833239 3311060 161448 92349063 48586441 37755656 5654752 1429635 143792 90423422 51114140 618620 -1471890 1535882 138547 48586441 48892581 1839324 2118007 1572395 163377 51114140 43936492 1769145 4220720 932161 101615 48892581 0.06070 0.71110 0.22820 0 0 8774129 9050084 17824213 5000000 125225172 42832903 87392269 11679111 5030933 6648178 28849279 20539709 8309570 11556276 1094413 10461863 130636093 X 87825331 145244 17265 -51387580 -51225071 139050402 -51226 -51226 138999176 77332356 17265 51226 68491 77263865 53162900 53162900 130426765 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 25,288. RECLASSIFICATION OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS -52,638,635. GAIN/LOSS ON INTEREST RATE SWAP AGREEMENTS 1,734,914. CHANGE IN VALUE OF RELATED ORG'S ASSETS REPORTED ON CONSOLIDATED FINANCIALS 15,118. EXPENSES OF DISREGARDED ENTITY INCL IN REVENUES ON CONSOLIDATED -524,265. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES -51,226. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES 51,226. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL GRANTS AND SCHOLARSHIPS 52,638,635. EXPENSES OF DISREGARDED ENTITY INCL IN REVENUES ON CONSOLIDATED 524,265. 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. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 422316 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 92783 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 90335 0 0 0 0 0 0 605434 0 605434 0 0 0 0 0 0 PART I, LINE 2: ELIGIBILITY FOR STUDY ABROAD SCHOLARSHIPS AND GRANTS IS DETERMINED EACH SEMESTER BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND ACADEMIC STANDING. THE FINANCIAL PLANNING DEPARTMENT AND TRAVEL COMMITTEE VERIFY SATISFACTORY ACADEMIC PROGRESS AND DETERMINE NEED BEFORE SCHOLARSHIPS AND GRANTS ARE DISTRIBUTED. PART I, LINE 3: ORGANIZATION USES GAAP TO RECORD EXPENDITURES SCH F, LINE 3 WINGATE UNIVERSITY'S ACTIVITY ABROAD IS COMPRISED OF FACULTY TEACHING STUDENT GROUPS ABROAD. THE UNIVERSITY DOES NOT MAINTAIN PERMANENT FACULTY, FACILITIES, OR STAFF IN THESE FOREIGN AREAS. ONE DAY ONE DOG 139922 139922 7642 18483 GOLF TOURNAMENT 54318 51348 2970 5739 15790 3573 194240 51348 142892 13381 15790 22056 51227 91665 1 ENDOWED SCHOLARSHIPS 686 3311060 RESTRICTED ANNUAL SCHOLARSHIPS 186 340500 ATHLETIC SCHOLARSHIPS 471 5491398 ACADEMIC SCHOLARSHIPS 2855 42948357 NEED BASED SCHOLARSHIPS 1161 547320 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 0 0 0 0 0 0 0 0 0 T RHETT BROWN PRESIDENT 255102 0 40000 0 58722 0 20900 0 20546 0 395270 0 0 0 WILLIAM H DURHAM VICE PRESIDENT 168571 0 14592 0 5600 0 14098 0 20444 0 223305 0 0 0 SCOTTY HUNSUCKER VICE PRESIDENT 121702 0 10333 0 10162 0 10065 0 13541 0 165803 0 0 0 HEATHER MILLER VICE PROVOST 131210 0 11250 0 6913 0 10989 0 20232 0 180594 0 0 0 ROBERT STEPHEN POSTON VICE PRESIDENT 129579 0 10833 0 5661 0 10521 0 6681 0 163275 0 0 0 NANCY H RANDALL VICE PRESIDENT 129958 0 10833 0 689 0 14509 0 6682 0 162671 0 0 0 ROBERT SUPERNAW VICE PRESIDENT 286408 0 23948 0 5779 0 23325 0 20582 0 360042 0 0 0 HELEN TATE VICE PRESIDENT 199463 0 16667 0 0 0 16280 0 6626 0 239036 0 0 0 EARL VINCENT TILSON VICE PRESIDENT 151029 0 12917 0 7216 0 12333 0 6708 0 190203 0 0 0 KEVIN BRUIELLY DIRECTOR 149883 0 0 0 35 0 12403 0 20232 0 182553 0 0 0 CAROLYN FORD PROFESSOR 147114 0 0 0 0 0 11924 0 6523 0 165561 0 0 0 SAMIR KOUZI PROFESSOR 142525 0 0 0 0 0 11894 0 20410 0 174829 0 0 0 MICHAEL MANOLAKIS PROFESSOR 126488 0 0 0 0 0 11219 0 20232 0 157939 0 0 0 ERIC SCHNEIDER PROFESSOR 138602 0 0 0 0 0 11270 0 7785 0 157657 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 PUBLIC FINANCE AUTHORITY 273866124 2016-05-31 24000000 FINANCE CAPITAL IMPROVEMENTS AND REFINANCE DEBT 0 0 0 B PUBLIC FINANCE AUTHORITY 273866124 2017-12-19 25300000 FINANCE CAPITAL IMPROVEMENTS 0 0 0 A 24000000 148199 7500000 16351801 2016 1 0 0 1 B 25300000 228297 8220554 16851149 2017 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 SUNTRUST BANK 12.000000000000 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 X 4 10000 DONOR STATED X 1495 DONOR STATED X 1 10000 DONOR STATED X 20 231049 FAIR MARKET VALUE X 1 136000 DONOR STATED X 1 8100000 DONOR STATED X SOFTWARE 2 188125 DONOR STATED X FURNISHINGS 2 131420 DONOR STATED X EQUPMENT 3 11833 DONOR STATED X AWARDS 4 1640 DONOR STATED 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUIONS IN COLUMN 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 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 25,288. GAIN/LOSS ON INTEREST RATE SWAP AGREEMENTS 1,734,914. 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 HOLDINGS LLC PO BOX 159 WINGATE NC 28174 823719186 OPERATE GOLF COURSE NC 549572 8369670 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 12B, II WINGATE UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0