2018-11-12T10:36:13-07:00 2018-06-30 990 2017-07-01 570314415 SPARTANBURG METHODIST COLLEGE SPAR 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Eric McDonald VP for Business Affairs 8645874200 2018-11-12 192.251.181.2 2017 2019-02-21 02:37:17Z Scott Cochran 1000 Powell Mill Road Spartanburg SC 29301 20141484 0 X www.smcsc.edu X 1911 SC Spartanburg Methodist College is a liberal arts coeducational institution, related to the United Methodist Church, which offers a two-year undergraduate degree. The College has approximately 800 students. 22 22 301 64 0 0 1802538 2181495 16029247 17299617 318089 457870 35805 51831 18185679 19990813 5020189 5434149 0 0 6812768 6885318 0 0 521355 6826427 7382802 18659384 19702269 -473705 288544 50627860 51894164 10475073 9893526 40152787 42000638 The mission of Spartanburg Methodist College, a two-year, coeducational institution related to the United Methodist Church, is to develop the worth and abilities of each individual through programs relevant to academic and personal needs. The College strives for a values-oriented atmosphere in the Christian tradition in which students can develop a sensitivity to the needs of others and from which they can assume responsible positions in society. 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 options. The College offers a wide variety of students the opportunity of higher education by providing a competent and dedicated faculty, financial assistance, work-study positions, and special support programs to meet their needs. 0 0 12075658 5434149 12657213 Higher Education: SMC is a private, church-related (United Methodist), two-year institution of higher education. The College provides instruction to approximately 800 liberal arts students. 3579681 0 4694235 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 15655339 1 1 0 0 0 0 0 0 0 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 64 0 1 301 1 0 0 0 0 0 0 0 0 0 0 X 22 22 0 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 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 Ray Lattimore Recording Secretary 1 0 X 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 Phinnize Fisher Board Member 1 0 X 0 0 0 Jerry Gadsden Board Member 1 0 X 0 0 0 Catherine Gramling Board Member 1 0 X 0 0 0 Marianna Black Habisreutinger 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 Derrick Huggins 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 John Moore 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 W Guy Spriggs Board Member 1 0 X 0 0 0 Mary Teasley Board Member 1 0 X 0 0 0 Marilyn Murphy Board Member 1 0 X 0 0 0 Open Board Member 0 0 X 0 0 0 Open Board Member 0 0 X 0 0 0 William S Cochran President of the College 60 0 X 198795 0 24249 Anita Bowles Vice President of Academic Affairs 50 0 X 124598 0 12485 Eric McDonald Vice President of Business Affairs 45 0 X 111715 0 17403 Lisa Ware VP for Marketing 45 0 X 73181 0 9193 Jennifer Dillenger VP for Institutional Advancement 45 0 X 57056 0 8150 Courtney Shelton VP for Professional Development and Design 45 0 X 57856 0 8192 Tim Drum Chaplain 45 0 X 22243 0 8205 645444 0 87877 3 0 1 0 Sodexo Inc & Affiliates PO Box 536922 Atlanta GA 30353 Food Service 1568035 GCA Services Group PO Box 534198 Atlanta GA 30353 Cleaning services 337749 Trane US Inc PO BOX 406469 Atlanta GA 30384 HVAC 212396 Brewington Contractors 100 Sunflower Lane Clinton SC 29325 Construction 162320 Presort Plus 401 E Warehouse Court Taylors SC 29687 Print Materials 150551 8 0 0 0 0 63212 2118283 164677 2181495 Tuition 900099 12605382 12605382 0 0 Auxiliary 611710 4694235 4694235 0 0 0 0 0 0 17299617 457171 0 0 457171 0 0 0 0 0 0 0 0 18275 0 0 0 18275 0 18275 18275 0 0 151370 0 150671 0 699 0 699 0 0 699 0 Transcripts 900099 7491 7491 0 0 Other Income 900099 26065 26065 0 0 0 0 0 0 33556 19990813 17351448 0 457870 0 0 5434149 5434149 0 0 0 0 889035 286944 511991 90100 0 0 0 0 4891180 3688904 989930 212346 195345 140953 43432 10960 517534 373432 115066 29036 392224 275046 96512 20666 0 0 0 0 72536 0 72536 0 69940 0 69940 0 0 0 0 0 0 0 74571 0 74571 0 647059 621838 24753 468 420026 307160 112866 0 268420 172029 92450 3941 251346 11559 239787 0 0 0 0 0 907445 907398 47 0 369614 301677 57857 10080 0 0 0 0 35970 26401 6562 3007 179584 0 179584 0 0 0 0 0 1391987 1113590 222718 55679 244222 82378 161844 0 LIBRARY BOOKS AND AUDIO VISUALS 28397 28397 0 0 FOOD SERVICE 1382447 1382447 0 0 PUBLIC RELATIONS & RECRUITMENT 51942 22369 13575 15998 STUDENT LIFE AND SERVICES 398920 320549 78371 0 588376 158119 361183 69074 19702269 15655339 3525575 521355 1000 1100 3511985 3480377 301704 582177 309311 486749 0 0 0 0 67457 189870 6054 6056 70762 0 44083202 20229520 24077301 23853682 20037997 20814106 1437827 1512016 806462 968031 50627860 51894164 451712 303793 0 0 663599 665170 8977358 8414173 0 0 0 0 0 0 0 0 382404 510390 10475073 9893526 X 22116116 22522154 4112304 5295257 13924367 14183227 40152787 42000638 50627860 51894164 X 288544 1600796 0 0 0 -41489 X 0 1 X 1 1 1 X 21970490 218609 1987402 1205648 0 0 22970853 20579484 551226 2329063 1489283 0 0 21970490 21665468 726425 -664378 1148031 0 0 20579484 22007371 56185 664460 1062548 0 0 21665468 19376731 207580 3427255 1004195 0 0 22007371 0.21 0.62 0.17 1 0 0 137910 137910 0 36184240 15506671 20677569 0 0 0 0 0 4331368 3425147 906221 0 3429684 1297702 2131982 23853682 0 ANNUITIES PAYABLE 372492 LEASES PAYABLE 137898 510390 X 16041400 1600796 0 0 0 1600796 14440604 74571 5475638 5550209 19990813 14193549 0 0 0 0 0 14193549 74571 5434149 5508720 19702269 Schedule D, Part V, Line 4 The majority of the endowment funds are donor designated 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, 2018 and 2017 and, accordingly, no liability has been accrued. Schedule D, Part XI, Line 4b Tuition discounts of $5,434,149 plus change in value of split interest agreements of $24,472 plus change in value of pledges of $17,017. Schedule D, Part XII, Line 4b Tuition discounts of $5,434,149 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 published on an annual basis in "The Herald Journal", a local newspaper. Schedule E, Part I, Line 6 The College receives PELL, SEOG, Work study, Student Loans, Tuition Grant, LIFE and Lottery Scholarship funds from government agencies for tuition. 1 Scholarships and grants awarded to Spartanburg Methodist College 787 5434149 0 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 achievements. The Director of Financial aid and the VP of enrollment maintain 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 X X 0 0 0 0 0 0 0 0 0 William S Cochran President of the College 198795 0 0 0 0 0 10488 0 13761 0 223044 0 0 0 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 2985000 0 6000000 0 0 0 154368 0 0 5845632 0 0 2006 0 0 1 1 B 1475164 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 0 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2c-08/11/2005 6,000,000 Edu Facilities Authority No rebate due Schedule K, Part IV, Line 2c-12/16/2010 7,000,000 Edu Facilities Authority No rebate due X 5 150671 FMV X GIFT CARDS, JEWELRY, TICKETS 43 14006 FMV 0 0 1 0 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 evaluations 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 Vice Presidents are evaluated by the President annually. These evaluations are written and reviewed in private consultation with each Vice President. 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 $24,472 plus the change in the valuation of pledges of $17,017. 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