2017-05-15T15:35:27-05:00 2016-06-30 431126847 WILLIAMS-KEEPERS LLC 2005 WEST BROADWAY SUITE 100 COLUMBIA MO 65203 990 2015-07-01 430652617 WESTMINSTER COLLEGE WEST 5735925225 7TH AND WESTMINSTER AVENUE FULTON MO 65251 GARY STOCKER SECRETARY TO THE BOARD 5735925225 2017-05-15 1 RYAN HENRY P01749573 5734426171 2015 2021-01-29 14:40:06Z BENJAMIN OLA AKANDE 501 WESTMINSTER AVENUE FULTON MO 65251 65065118 0 X WWW.WESTMINSTER-MO.EDU X 1853 MO FOUR-YEAR, UNDERGRADUATE LIBERAL ARTS COLLEGE. 38 38 878 38 0 -9445 5778973 7976909 20989521 21346937 3001190 424639 4997042 5225337 34766726 34973822 12474149 12978437 0 0 12045624 11649817 0 0 600336 11539410 12668601 36059183 37296855 -1292457 -2323033 92426109 89671041 16641353 17799476 75784756 71871565 X IT SHALL BE THE MISSION OF WESTMINSTER COLLEGE TO EDUCATE AND INSPIRE ALL ITS STUDENTS THROUGH A DISTINCTIVE LIBERAL ARTS CURRICULUM AND A DYNAMIC DEVELOPMENTAL EXPERIENCE; TO CHALLENGE THEM TO BE CRITICALLY AWARE, LIFE-LONG LEARNERS AND LEADERS OF CHARACTER, COMMITTED TO THE VALUES OF INTEGRITY, FAIRNESS, RESPECT, AND RESPONSIBILITY; AND TO PREPARE THEM FOR LIVES OF SUCCESS, SIGNIFICANCE AND SERVICE. 0 0 6312851 8368500 INSTRUCTIONAL - ACADEMIC DEPARTMENTS FOR CLASSROOM INSTRUCTION. NUMBER BENEFITED - SERVED 943 STUDENTS FALL 2015 AND 860 STUDENTS SPRING 2016 12978437 12978437 12978437 SCHOLARSHIPS - FINANCIAL AID PROVIDED TO STUDENTS ON BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. NUMBER BENEFITED - 917. 5446389 STUDENT SERVICES - EXPENSES RELATING TO DEAN OF STUDENT LIFE, ADMISSIONS, GUIDANCE, PLACEMENT, CHAPLIN, FINANCIAL AID, AND INTERCOLLEGIATE ATHLETICS. NUMBER BENEFITED - SERVED 943 STUDENTS FALL 2015 AND 860 STUDENTS SPRING 2016. 4453080 4523013 AUXILIARY OPERATIONS- RESIDENCE HALLS, BOOK STORE, DINING HALL. 2172807 ACADEMIC SUPPORT - NUMBER BENEFITED - 943 STUDENTS FALL 2015 AND 860 STUDENTS SPRING 2016 6625887 4523013 31363564 1 1 0 0 0 0 1 1 0 1 1 1 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 0 0 0 0 1 113 0 1 878 1 1 1 0 0 0 0 0 0 0 0 0 X 38 38 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X BETH SCHMIDT 5735925225 501 WESTMINSTER AVE FULTON MO 65251 HAROLD B OAKLEY CHAIR OF THE BOARD 5.00 X X 0 0 0 JOHN R ELROD VICE CHAIR OF THE BOARD 5.00 X X 0 0 0 WARREN K ERDMAN VICE CHAIR OF THE BOARD 5.00 X X 0 0 0 KIM K DANIEL TRUSTEE 0.50 X 0 0 0 WILLIAM D FELDER TRUSTEE 0.50 X 0 0 0 FRANK O HUNTER TRUSTEE 0.50 X 0 0 0 BENJAMIN A JONES TRUSTEE 0.50 X 0 0 0 KENNETH E MEYER TRUSTEE 0.50 X 0 0 0 JOHN C PANETTIER TRUSTEE 0.50 X 0 0 0 GREGORY A RICHARD TRUSTEE 0.50 X 0 0 0 JAMES M SCHMUCK TRUSTEE 0.50 X 0 0 0 JANE E BETH STUBBS TRUSTEE 0.50 X 0 0 0 LINDA GILL TAYLOR TRUSTEE 0.50 X 0 0 0 J DAVID VEITCH TRUSTEE 0.50 X 0 0 0 RONALD D WINNEY TRUSTEE 0.50 X 0 0 0 BROCK E AYERS TRUSTEE 0.50 X 0 0 0 PHILIP J BOECKMAN TRUSTEE 0.50 X 0 0 0 BRUCE K BROOKBY TRUSTEE 0.50 X 0 0 0 PETER A CHILDS TRUSTEE 0.50 X 0 0 0 JUNE M FOWLER TRUSTEE 0.50 X 0 0 0 LINDSEY M DENNIS TRUSTEE 0.50 X 0 0 0 DONALD P LOFE JR TRUSTEE 0.50 X 0 0 0 ELIZABETH A MALM-BUASTSI TRUSTEE 0.50 X 0 0 0 JAMES C MORTON JR TRUSTEE 0.50 X 0 0 0 KENT C MUELLER TRUSTEE 0.50 X 0 0 0 LANA A ZERRER TRUSTEE 0.50 X 0 0 0 BYRON S BAGBY TRUSTEE 0.50 X 0 0 0 LES R BALEDGE TRUSTEE 0.50 X 0 0 0 HEATHER AT BIEHL TRUSTEE 0.50 X 0 0 0 CHARLES B CARDEN TRUSTEE 0.50 X 0 0 0 WILLIAM D DANIELS TRUSTEE 0.50 X 0 0 0 PAUL J PEPPER DAVIS TRUSTEE 0.50 X 0 0 0 PHILIP LEE EVANS TRUSTEE 0.50 X 0 0 0 WALLACE L HEAD TRUSTEE 0.50 X 0 0 0 H PHILLIPS KLIEWER TRUSTEE 0.50 X 0 0 0 G ROBERT MUEHLHAUSER TRUSTEE 0.50 X 0 0 0 WILLIAM H ROEDY TRUSTEE 0.50 X 0 0 0 FRANKLIN P TURNER TRUSTEE 0.50 X 0 0 0 BENJAMIN OLA AKANDE PRESIDENT OF THE COLLEGE 40.00 X 130038 0 29191 JOEY STONER INTERIM TREASURER/VP BUSINESS & CFO 40.00 X 135000 0 0 WILLIAM F SHEEHAN JR SECRETARY/VP INSTITUTIONAL ADVANCEMENT 40.00 X 142533 0 10005 CAROLYN PERRY SENIOR VP AND DEAN OF FACULTY 40.00 X 120800 0 7084 528371 0 46280 4 0 1 0 FRESH IDEAS 100 W NIFRONG BLVD BLDG 3 SUITE 2 COLUMBIA MO 65203 FOOD SERVICE 1102905 TRUESCAPE LANDSCAPING 510 GAYLORD DRIVE FULTON MO 65251 LANDSCAPING 224928 GLOVECON INC 210 E SIXTH STREET FULTON MO 65251 CONSTUCTION 190498 REINHARDT CONSTRUCTION COMPANY 627 N ROLLINS ST CENTRALIA MO 65240 CONSTRUCTION 186568 JENZABAR PO BOX 55018 BOSTON MA 02205 ERP PROVIDER 179460 12 107485 7869424 344003 7976909 TUITION, FEES, RELATED PROGRAMS 900099 21346937 21346937 21346937 714113 714113 38531 0 38531 38531 38531 29685505 68295 30021580 21694 -336075 46601 -289474 -289474 33614 48022 -14408 -14408 AUXILIARY SERVICES 900099 4523013 4523013 OTHER INCOME 900099 678201 678201 5201214 34973822 25869950 0 1126963 12978437 12978437 593169 430998 162171 9246567 7575818 1591028 79721 1805277 1374129 396420 34728 4804 4804 127996 127996 75365 75365 117810 117810 3295527 1735920 1470661 88946 141367 41459 99908 1265045 903700 331641 29704 388990 35287 353703 1307092 522385 784707 740938 627103 101919 11916 162368 26293 93125 42950 561858 561858 2234179 2052970 181209 469149 221191 247958 PLANT ALLOCATION 0 2074386 -2074386 0 SPECIAL PROJECTS 1249183 508027 658109 83047 BAD DEBT 239684 279 239405 0 OTHER EXPENSES 142249 90129 30965 21155 149801 34193 69610 45998 37296855 31363564 5332955 600336 17607 1748949 113804 187289 1499488 1292597 765282 570232 17199 0 42503 47102 302462 354690 88854744 46795582 42355117 42059162 35666663 34968496 7834278 4849959 595807 534520 79608 74948 3136291 2983097 92426109 89671041 1960273 2240028 13015000 12590000 279133 1582719 1386947 1386729 16641353 17799476 X 18299211 26677588 7873477 6843397 49612068 38350580 75784756 71871565 92426109 89671041 X -2323033 -1532768 -57390 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 1 1 0 66349 X X X X X EDUCATE STUDENTS AT THE SCH 0 56598223 2872561 -645807 1092251 983625 6794484 49954617 56329312 1822987 830842 923806 663975 797137 56598223 48939218 3793250 6365228 690906 835150 1242328 56329312 46217515 1885885 4126932 1443177 870486 1013653 48903016 50611328 414711 -293243 2914890 804605 795786 46217515 0.15040 0.73090 0.11870 0 0 3318000 1955181 5273181 71043959 35375448 35668511 12332989 11420134 912855 204615 204615 42059162 HEDGE FUND 1562638 F LIFE INSURANCE POLICY 10700 F LIMITED PARTNERSHIP - NATURAL RESOURCES 1202694 F LIMITED PARTNERSHIP - REIT 497862 F MUTUAL FUND 547849 F PRIVATE EQUITY LIMITED PARTNERSHIP 1015851 F COMMODITY MUTUAL FUND 12365 F 4849959 STUDENT DEPOSITS 255655 DEPOSITS HELD FOR OTHERS 98635 ANNUITIES PAYABLE 347687 REUNDABLE GOVERNMENT ADVANCES FOR PERKINS LOAN 465663 CONDITIONAL ASSET RETIREMENT OBLIGATIONS 219089 1386729 X 20335439 -1532768 -13035827 -14568595 34904034 117810 -48022 69788 34973822 24248630 48022 48022 24200608 117810 12978437 13096247 37296855 PART II, LINE 9: THE NATIONAL CHURCHILL MUSEUM LOCATED AT WESTMINSTER COLLEGE IS A CERTIFIED HISTORIC STRUCTURE. GIFTS RECEIVED FROM DONORS TO SUPPORT THE MEMORIAL ARE REPORTED AS CONTRIBUTION REVENUE. EXPENSES RELATING TO THE MEMORIAL ARE REPORTED AS PROGRAM EXPENSES (ACADEMIC SUPPORT). PART III, LINE 4: MISSON: THE NATIONAL CHURCHILL MUSEUM, ON THE CAMPUS OF WESTMINSTER COLLEGE, COMMEMORATES AND CELEBRATES THE LIFE, TIMES, AND DISTINGUISHED CAREER OF SIR WINSTON CHURCHILL AND INSPIRES CURRENT AND FUTURE LEADERS BY HIS EXAMPLE OF RESILIENCE, DETERMINATION, AND RESOLUTION. THE MUSEUM FULFILLS ITS MISSION BY: - MAINTAINING AND EVOLVING THE MUSEUM AS A SYMBOL OF CHURCHILLS LEADERSHIP AND PRINCIPLES, - BUILDING AND PRESERVING THE COLLECTIONS ABOUT CHURCHILL AND CHRISTOPHER WREN, - CONTRIBUTING TO CULTURAL ENRICHMENT THROUGH EXHIBITIONS AND EDUCATIONAL PROGRAMS, AND - DEVELOPING ACADEMIC RESOURCES TO PROMOTE SCHOLARLY STUDY. THE MUSEUM'S COLLECTION IS A JEWEL FOR MILITARY AND BRITISH HISTORIANS AND COMPRISES MANY ONE-OF-A-KIND ARTIFACTS. HISTORIANS INTERESTED IN THE LIFE AND TIMES OF SIR WINSTON CHURCHILL COULD NOT FIND A BETTER PLACE IN AMERICA TO CONDUCT THEIR STUDIES, ACCORDING TO BARRY R. BAUMAN WHO COMPLETED A GENERAL SURVEY OF THE MUSEUM IN 2008 (WWW.BAUMANCONSERVATION.COM). THE COLLECTION INCLUDES OVER 10,000 LIBRARY AND ARCHIVAL MATERIALS. THERE ARE ALSO THOUSANDS OF PHOTOGRAPHS, SEVERAL HUNDRED PRINTS AND DRAWINGS, AND APPROX. 1,000 THREE-DIMENSIONAL OBJECTS. THE GREATEST STRENGTH OF THE HOLDINGS IS THE INTERRELATIONSHIPS WITHIN THE VARIOUS SECTIONS OF THE COLLECTION. THE COLLECTION ALSO INCLUDES LESSER NUMBERS OF PAINTINGS AND TEXTILES, PRIMARILY UNIFORMS. SOME OF THE COLLECTION IS USED IN HANDS-ON EDUCATIONAL ACTIVITIES. THIS OFFERS A WONDERFUL ADDITIONAL EXPERIENCE TO ALL STUDENTS. THE CHURCHILL PRIMARY DOCUMENTS CONSISTING OF PHOTOGRAPHS AND LETTERS ARE EXCELLENT SOURCE MATERIALS FOR RESEARCH IN THE LATE PERSONAL LIFE OF CHURCHILL AND HIS FAMILY MEMBERS. OTHER COLLECTION MATERIALS INCLUDE HUNDREDS OF ORIGINAL WAR POSTERS, NEWSPAPERS AND CLIPPINGS FOR EXCELLENT PRIMARY SOURCES FOR FACTS AND OPINIONS. COLLECTIONS ON MUSEUM EVENTS GIVE PERSPECTIVE ON THE VISITS OF CHURCHILL, TRUMAN, GORBACHEV, THATCHER, REAGAN, BUSH AND OTHER STATE LEADERS AND THEIR GLOBAL VIEWPOINT ON THE COLD WAR. HISTORIC PRESERVATION SCHOLARS WILL FIND LETTERS, INVOICES AND PAPERS ON THE UNIQUE TASK OF TRANSPORTING A BAROQUE CHURCH STRUCTURE FROM LONDON TO FULTON, ITS REASSEMBLE AND RECREATING CARVINGS AND CURTAIN ORNAMENTATION TO REFLECT SIR CHRISTOPHER WREN. THE NATIONAL CHURCHILL MUSEUM AND LIBRARY CONTAINS 1,322 VOLUMES PERTAINING TO CHURCHILL AND IS RATED AS EXCELLENT HOLDINGS OF SECONDARY SOURCE MATERIALS. CARLO D'ESTE, AUTHOR OF WARLORD: THE LIVE OF WINSTON CHURCHILL AT WAR, BEGAN HERE AS HIS STARTING POINT FOR RESEARCH. THIS PROJECT WILL EXPAND ACCESS TO THE CHURCHILL COLLECTION AND SPECIFICALLY, ITS RELEVANCE TO THE COLD WAR. BECAUSE OF THE LACK OF ADEQUATE DESCRIPTIVE MATERIALS AND GOOD FINDING AIDS, THE MUSEUM'S COLLECTION IS UNDER-UTILIZED. SOME VOLUMES ARE LOCATED AT REEVES LIBRARY, THE COLLEGE LIBRARY, LOCATED ACROSS FROM THE MUSEUM FACILITY. THE MUSEUM'S ARCHIVES/COLLECTIONS ARE FOR EDUCATION PURPOSES EITHER THROUGH PUBLIC EXHIBITION INHOUSE AND LOANED TO OTHER EXHIBITING INSTITUTIONS, SCHOLARLY RESEARCH, AND PUBLIC EDUCATION. PART V, LINE 4: GENERAL SUPPORT OF THE COLLEGE, SUPPORT OF ACADEMIC DEPARTMENTS, AWARD SCHOLARSHIPS, SUPPORT OF FACILITY CHAIRS, SUPPORT THE NATIONAL CHURCHILL MUSEUM, MAINTENANCE OF THE COLLEGE FACILITIES, SUPPORT THE LIBRARY, RESEARCH PROGRAMS, LOAN FUNDS AND LECTURES. PART X, LINE 2: THE AUDITED FINANCIAL STATEMENTS INCLUDE THE FOLLOWING STATEMENT: "THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 50L(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, EXCEPT FOR UNRELATED BUSINESS INCOME WHICH IS SUBJECT TO FEDERAL AND STATE INCOME TAXES AT STATUTORY RATES. THE COLLEGE'S FORM 990 AND TAXABLE STATUS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR OPEN TAX YEARS, WHICH AS OF THE DATE OF THIS REPORT ARE THE YEARS ENDED JUNE 30, 2013 THROUGH 2016. INTEREST AND PENALTIES INCURRED, IF ANY, RELATED TO ANNUAL FORM 990 OR UNRELATED BUSINESS INCOME TAX FILINGS ARE REPORTED WITHIN INSTITUTIONAL SUPPORT EXPENSES IN THE STATEMENT OF ACTIVITIES." PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID/GRANTS -12,978,437. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -57,390. PART XI, LINE 4B - OTHER ADJUSTMENTS: AMOUNT REPORTED AS COST OF GOODS SOLD -48,022. PART XII, LINE 2D - OTHER ADJUSTMENTS: AMOUNT REPORTED AS COST OF GOODS SOLD 48,022. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/GRANTS 12,978,437. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL PUBLICATIONS AND LOCAL BROADCASTS MADE DURING THE REGISTRATION PERIOD INDICATE THE SOCIALLY NONDISCRIMINATORY POLICY OF THE INSTITUTION. SCHEDULE E, PART I, LINE 6 SCHEDULE A, PART V, LINE 34A - WESTMINSTER COLLEGE RECEIVES FEDERAL ASSISTANCE FROM THE DEPARTMENT OF EDUCATION FOR STUDENT FINANCIAL AID UNDER THE PELL GRANT, SUPPLEMENTARY EDUCATIONAL OPPORTUNITY GRANTS, COLLEGE WORK-STUDY, AND PERKINS LOAN PROGRAMS. 1 UNDERGRADUATE SCHOLARSHIP AWARDS 917 12978437 PART I, LINE 2: FINANCIAL AID VERIFIES ELIGIBILITY AND AWARDS APPROPRIATELY. FUNDS ARE TRANSFERRED TO STUDENT ACCOUNTS TO COVER FEES. NO OVER-AWARDING IS PERMITTED. X 1 1 X X X 0 0 0 0 0 0 0 0 0 BENJAMIN OLA AKANDE PRESIDENT OF THE COLLEGE 130038 0 0 0 0 0 0 0 29191 0 159229 0 0 0 WILLIAM F SHEEHAN JR SECRETARY/VP INSTITUTIONAL ADVANCEME 142533 0 0 0 0 0 0 0 10005 0 152538 0 0 0 PART I, LINE 1A THE PRESIDENT'S RESIDENCE IS USED FOR THE BUSINESS PURPOSES OF THE UNIVERSITY AND TO FURTHER THE MISSION OF WESTMINSTER COLLEGE. THE PRESIDENT IS REQUIRED TO RESIDE IN THE RESIDENCE AND HOST MANY EVENTS FOR FACULTY, STAFF, ALUMNI, BOARD MEMBERS, AND OTHERS. SCHEDULE J, PART II: AMOUNTS IN COLUMN D FOR BENJAMIN OLA AKANDE INCLUDE THE VALUE OF COLLEGE-PROVIDED HOUSING AND PERSONAL SERVICES RELATED TO THE PRESIDENT'S HOUSE. A IDA OF CALLAWAY COUNTY MO REFUNDING REVENUE BONDS SERIES 2012A 431327288 131168BD7 2012-07-19 6245000 REFUNDING OF A PRIOR ISSUE THAT WAS DATED 5/11/05 0 0 0 B IDA OF CALLAWAY COUNTY MO REFUNDING REVENUE BONDS SERIES 2012C 431327288 131168BL9 2012-07-19 6043810 REFUND PRIOR ISSUES THAT WERE DATED 8/28/07 AND 6/29/10 0 0 0 A 6245000 600718 124900 6074651 1 0 1 1 B 6085000 611641 120876 5798557 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 1 0 0 0 0 B 0 1 0 0 1 0 0 0 0 A 0 B 0 X 1 11186 BLUE BOOK VALUE X 7 307274 VALUE ON DONATION DATE X 1 25543 APPRAISAL 0 1 1 PART I, LINE 32B: IF A DONOR WANTS TO DONATE STOCK TO THE COLLEGE, IT IS TRANSFERRED TO AN INVESTMENT FIRM, WHICH SELLS THE STOCK UPON RECEIPT AND THEN CUTS A CHECK TO WESTMINSTER FOR THE PROCEEDS. THE INVESTMENT ACCOUNT HELD WITH THE FIRM IS AN IN & OUT ACCOUNT. PART I, LINE 33: GIFTS OF HISTORICAL TREASURES AND COLLECTIONS FOR THE NATIONAL CHURCHILL MUSEUM ARE NOT RECORDED ON THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE CONTROLLER AND CFO. A COPY OF THE FORM 990 IS MADE AVAILABLE TO BOARD MEMBERS ELECTRONICALLY. BOARD MEMBERS ARE NOTIFIED AND ASKED TO REVIEW WITH A STATED DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ANNUALLY. ANY ACTIVITY OF SIGNIFICANCE GOES BEFORE THE BOARD AND MEMBERS ARE REQUIRED TO ABSTAIN AFTER DISCLOSING A PERSONAL RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES, THROUGH ITS GOVERNANCE AND TRUSTEESHIP COMMITTEE, REVIEWS AND APPROVES THE PRESIDENT'S ANNUAL COMPENSATION, AND THE REVIEW HAS INCLUDED REFERENCE TO COMPARABLE COMPENSATION DATA OF REGIONAL AND TRANSITIONAL PEER COLLEGES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -57,390. FORM 990, PART XII, LINE 2C THE FINANCIAL AFFAIRS COMMITTEE MANAGES ISSUES RELATING TO SELECTION OF THE INDEPENDENT AUDITOR. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.