2016-05-10T07:46:30-05:00 2015-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2014-07-01 546039600 VIRGINIA WESLEYAN COLLEGE VIRG 7574553317 1584 WESLEYAN DRIVE NORFOLK VA 23502 CARY A SAWYER VICE PRESIDENT FOR FINANCE 7574553317 2016-04-28 1 JANICE A RATICA P00358837 7043771678 2014 2016-08-17 19:52:53Z CARY A SAWYER 1584 WESLEYAN DRIVE NORFOLK VA 23502 100196508 0 X WWW.VWC.EDU X 1961 VA VIRGINIA WESLEYAN COLLEGE IS A FOUR YEAR, FULLY ACCREDITED LIBERAL ARTS, UNITED METHODIST-RELATED INSTITUTION FOUNDED IN 1961. THE COLLEGE OFFERS LIBERAL ARTS CURRICULUM AND GRANTS THE BACHELOR OF ARTS AND SCIENCES DEGREES. 34 34 1081 50 280008 -332812 5515364 26652795 50542647 54126542 9735809 2028467 456668 258342 66250488 83066146 18783631 21574305 0 0 23907228 24997616 0 0 1872014 14488006 15101932 57178865 61673853 9071623 21392293 129021248 148792027 43349082 42998066 85672166 105793961 X THE MISSION OF VIRGINIA WESLEYAN COLLEGE IS TO ENGAGE STUDENTS OF DIVERSE AGES, RELIGIONS, ETHNIC ORIGINS AND BACKGROUNDS IN A RIGOROUS LIBERAL ARTS EDUCATION THAT WILL PREPARE THEM TO MEET THE CHALLENGES OF LIFE AND CAREER IN A COMPLEX AND RAPIDLY CHANGING WORLD. IN THIS ENDEAVOR, THE COLLEGE EMPLOYS A WIDE RANGE OF APPROACHES TO TEACHING AND LEARNING AND PROVIDES OPPORTUNITIES TO CONNECT THE STUDY OF THE LIBERAL ARTS WITH PRACTICAL LEARNING EXPERIENCES ON CAMPUS, IN THE HAMPTON ROADS REGION, AND THROUGHOUT THE WORLD. IN ACCORD WITH OUR UNITED METHODIST HERITAGE, VIRGINIA WESLEYAN ASPIRES TO BE A SUPPORTIVE COMMUNITY THAT IS COMMITTED TO SOCIAL RESPONSIBILITY, ETHICAL CONDUCT, HIGHER LEARNING AND RELIGIOUS FREEDOM. 0 0 45278031 21574305 46173812 EDUCATIONAL AND GENERAL EXPENSES TO INCLUDE INSTRUCTIONAL SERVICES, PUBLIC SERVICES, PLANT OPERATIONS AND STUDENT AID. IN FISCAL YEAR 2015, 1,604 STUDENTS WERE ENROLLED AND 312 STUDENTS GRADUATED WITH BACCALAUREATE DEGREES. 7798446 7952730 AUXILIARY ENTERPRISES TO INCLUDE RESIDENCE HALLS, DINING HALL AND CONFERENCE FACILITIES. 53076477 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 84 0 1081 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X DR SCOTT D MILLER 7574553215 1584 WESLEYAN DRIVE NORFOLK VA 23510 VINCENT J MASTRACCO JR TRUSTEE 0.50 X 0 0 0 OL EVERETT TRUSTEE 0.50 X 0 0 0 SUSAN TORMA BEVERLY TRUSTEE 0.50 X 0 0 0 THOMAS C BROYLES TRUSTEE 0.50 X 0 0 0 DEBORAH H BUTLER TRUSTEE 0.50 X 0 0 0 YOUNG JIN CHO TRUSTEE 0.50 X 0 0 0 B MINETTE COOPER TRUSTEE 0.50 X 0 0 0 DALE R FOLEY TRUSTEE 0.50 X 0 0 0 WILLIAM H GEORGE TRUSTEE 0.50 X 0 0 0 SUSAN S GOODE TRUSTEE 0.50 X 0 0 0 WILLIAM W GRANGER III TRUSTEE 0.50 X 0 0 0 ALEXANDER B JOYNER TRUSTEE 0.50 X 0 0 0 SEONYOUNG KIM TRUSTEE 0.50 X 0 0 0 RONALD M KRAMER TRUSTEE 0.50 X 0 0 0 JOHN F MALBON TRUSTEE 0.50 X 0 0 0 ELIZABETH F MIDDLETON TRUSTEE 0.50 X 0 0 0 DEBORAH M PAXSON TRUSTEE 0.50 X 0 0 0 JONATHAN E PRUDEN TRUSTEE 0.50 X 0 0 0 ROBIN D RAY TRUSTEE 0.50 X 0 0 0 AMY MALLETT RICKARD TRUSTEE 0.50 X 0 0 0 CYNTHIA M RODRIGUEZ TRUSTEE 0.50 X 0 0 0 LOUIS F RYAN TRUSTEE 0.50 X 0 0 0 ALVIN J SCHEXNIDER TRUSTEE 0.50 X 0 0 0 M WAYNE SNEAD TRUSTEE 0.50 X 0 0 0 JOSEPH R THOMAS TRUSTEE 0.50 X 0 0 0 LINDA THOMAS-GLOVER TRUSTEE 0.50 X 0 0 0 WILLIAM H THUMEL JR TRUSTEE 0.50 X 0 0 0 JOHN A TRINDER TRUSTEE 0.50 X 0 0 0 GEORGE K CHIP TSANTES III TRUSTEE 0.50 X 0 0 0 D HENRY WATTS TRUSTEE 0.50 X 0 0 0 GARY D BONNEWELL CHAIR 0.50 X X 0 0 0 DAVID L KAUFMAN VICE CHAIR 0.50 X X 0 0 0 TASSOS J PAPHITES SECRETARY 0.50 X X 0 0 0 ANNE B SHUMADINE TREASURER 0.50 X X 0 0 0 DR WILLIAM T GREER JR PRESIDENT 50.00 X 332790 0 35503 DR TIMOTHY O'ROURKE VICE PRESIDENT FOR ACADEMIC AFFAIRS 50.00 X 175349 0 29136 DAVID BUCKINGHAM VICE PRESIDENT FOR STUDENT AFFAIRS AND DEAN OF ENR 50.00 X 158371 0 26662 CARY SAWYER VICE PRESIDENT FOR FINANCE 50.00 X 149456 0 28975 MITA VAIL VICE PRESIDENT FOR COLLEGE ADVANCEMENT 50.00 X 140891 0 19620 NELSON DAVIS DIRECTOR OF ADMISSIONS 50.00 X 118156 0 25035 DR DOUGLAS KENNEDY PROFESSOR OF RECREATION AND LEISURE STUDIES 50.00 X 116058 0 25680 DR TERRY LINDVALL PROFESSOR OF RELIGIUOS STUDIES 50.00 X 109704 0 25192 DAVID MACEDO HEAD MEN'S BASKETBALL COACH 50.00 X 130293 0 26130 SUZANNE SAVAGE ASSOCIATE VICE PRESIDENT FOR COLLEGE ADVANCEMENT 50.00 X 119908 0 17216 1550976 0 259149 13 0 1 0 SODEXO PO BOX 536922 ATLANTA GA 303536922 CAMPUS FOOD SERVICES 2258272 HOURIGAN CONSTRUCTION 4429 BONNEY ROAD STE 200 VIRGINIA BEACH VA 23462 DESIGN/BUILD CONTRACTOR 1109049 RD LAMBERT 1724 LAMBERT COURT CHESAPEAKE VA 23327 GENERAL BUILDING CONTRACTOR 933187 ARAMARK 24818 NETWORK PLACE CHICAGO IL 606731248 CAMPUS FACILITIES MAINTENANCE 634116 TYMOFF & ASSOCIATES 512 BOTETOURT STREET NORFOLK VA 23510 ARCHITECTURAL SERVICES 104475 5 266444 26386351 1708715 26652795 STUDENT FEES 611310 45754308 45754308 RESIDENCE HALLS 611310 4131156 4131156 DINING EXPENSES 611310 3499716 3499716 OTHER 611310 419504 419504 CONFERENCES 611310 321858 321858 54126542 698651 -10431 709082 327909 311883 16026 16026 174263 -158237 17422510 16092694 1329816 1329816 1329816 851925 725785 126140 126140 CATERING 722210 116176 116176 116176 83066146 54126542 280008 2006801 21574305 21574305 1096753 367337 340839 388577 17886108 14270691 2609385 1006032 1382034 1083095 218166 80773 3180532 2459433 566754 154345 1452189 1137971 229317 84901 123946 123946 112677 112677 110600 110600 828618 699399 104944 24275 2078546 1919515 159031 459304 367671 36665 54968 1651588 1523553 128035 3020447 2844745 175702 314881 314881 OTHER 3555767 1983204 1494420 78143 COST OF SALES (AUXILIAR 1983772 1983772 ATHLETICS 715322 715322 STUDENT ACTIVITES 146464 146464 61673853 53076477 6725362 1872014 210221 597678 11384453 21572127 5343317 14923593 323929 230958 1091320 1113112 235327 230531 383505 310199 101719552 47388432 53824613 54331120 15406 15406 54899259 54199174 1309898 1268129 129021248 148792027 4361789 5014861 956614 956614 1601929 1375341 30167477 29279269 6261273 6371981 43349082 42998066 X 28869689 28662177 18252767 36691900 38549710 40439884 85672166 105793961 129021248 148792027 X 21392293 -1054520 -215978 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 57712712 1905873 821852 3081842 57358595 51827301 229843 8055740 2400172 57712712 48640037 262283 5754034 2829053 51827301 53284901 469377 -2004743 2742064 367434 48640037 46809429 258550 8950037 2733115 53284901 0.20000 0.68000 0.12000 0 0 580418 580418 80518288 31825218 48693070 14719524 13331254 1388270 5901322 2231960 3669362 54331120 U.S. EQUITIES 17584965 F INTERNATIONAL EQUITIES 12372386 F FIXED INCOME 5117059 F ALTERNATIVES 11262393 F PRIVATE CAPITAL 6449009 F NON-MARKETABLE LIMITED PARTNERSHIP 567718 F MUTUAL FUNDS 247312 F OTHER 598332 F 54199174 OBLIGATIONS UNDER SPLIT INTEREST AGMNT 183840 OBLIGATIONS UNDER INT RATE SWAP CONTRACT 5229414 CAPITAL LEASE OBLIGATIONS 958727 6371981 X 61146334 -1054520 -215978 -1270498 62416832 112677 20536637 20649314 83066146 41024539 1037668 1037668 39986871 112677 21574305 21686982 61673853 PART III, LINE 4: THE COLLECTION CONSISTS PRIMARILY OF PAINTINGS AND IS HELD FOR PUBLIC DISPLAY IN RELATION TO ART CLASSES TAUGHT BY THE COLLEGE. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS AND GRANTS FOR STUDENTS AND SUPPORT OPERATIONS. PART X, LINE 2: THE COLLEGE HAS EVALUATED THE EFFECT OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE COLLEGE IS A NOT-FOR-PROFIT ORGANIZATION AND IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED ALL OF THE TAX POSITIONS AND DETERMINED A PROVISION FOR UNCERTAIN TAX POSITIONS IS NOT NECESSARY AT JUNE 30, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: ANNUITY ADJUSTMENT -172,399. LOSS ON INTEREST RATE SWAP -43,579. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE SHOWN NET OF REVENUES ON FINANCIALS 21,574,305. COST OF SALES -725,785. RENTAL EXPENSES SHOW AS EXPENSE ON THE FINANCIALS -311,883. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 725,785. RENTAL EXPENSES SHOWN AS AN EXPENSE ON THE FINANCIALS 311,883. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE SHOWN NET OF REVENUES ON FINANCIALS 21,574,305. 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 NONDISCRIMINATORY POLICY IS ON THE COLLEGE WEB SITE AND IS INCLUDED ON INFORMATION THAT GOES OUT TO PROSPECTIVE STUDENTS. THE COLLEGE PUBLISHES IT IN THE VIRGINIAN-PILOT AT LEAST ONCE ANNUALLY. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FUNDS FROM THE FEDERAL GOVERNMENT UNDER THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG) PROGRAM AND THE FEDERAL WORK-STUDY PROGRAM. GRANTS RECEIVED ARE AWARDED TO STUDENTS USING ONE OF FOUR FEDERAL POLICIES BASED ON THE FREE APPLICATION OF FEDERAL STUDENT AID (FAFSA). CENTRAL AMERICA & THE CARIBBEAN 0 0 INVESTMENTS 7914602 0 0 0 0 0 0 7914602 0 7914602 1 0 0 0 0 0 1 SCHOLARSHIPS AND GRANTS 1447 21574305 PART I, LINE 2: THE FINANCIAL AID OFFICE IS CHARGED WITH DETERMINING ELIGIBILITY, ALLOCATIONS OF GRANT FUNDS, AND MONITORING OF STUDENT ACCOUNTS. FINANCIAL NEED IS DETERMINED AFTER AN ANALYSIS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) IS COMPLETED. THE COLLEGE ALSO OFFERS ACADEMIC SCHOLARSHIPS, WITHOUT REGARD TO NEED, TO ENTERING NEW AND TRANSFER STUDENTS WITH OUTSTANDING ACADEMIC RECORDS. ALL FINANCIAL AID IS CHARGED DIRECTLY AGAINST THE STUDENT ACCOUNTS. X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR WILLIAM T GREER JR PRESIDENT 332790 0 0 0 0 0 22100 0 13403 0 368293 0 0 0 DR TIMOTHY O'ROURKE VICE PRESIDENT FOR ACADEMIC AFFAIRS 175349 0 0 0 0 0 15173 0 13963 0 204485 0 0 0 DAVID BUCKINGHAM VICE PRESIDENT FOR STUDENT AFFAIRS A 158371 0 0 0 0 0 13619 0 13043 0 185033 0 0 0 CARY SAWYER VICE PRESIDENT FOR FINANCE 149456 0 0 0 0 0 13005 0 15970 0 178431 0 0 0 MITA VAIL VICE PRESIDENT FOR COLLEGE ADVANCEME 140891 0 0 0 0 0 11667 0 7953 0 160511 0 0 0 DAVID MACEDO HEAD MEN'S BASKETBALL COACH 130293 0 0 0 0 0 11475 0 14655 0 156423 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES HOUSING TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. THE COLLEGE ALSO PROVIDES HOUSEKEEPING SERVICES TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN HOST FUNDRAISING EVENTS AND MEETINGS AT THE RESIDENCE. THE COLLEGE PAYS FOR MEMBERSHIPS TO THE NORFOLK YACHT CLUB AND THE TOWN CENTER CLUB FOR DR. GREER TO ALLOW HIM TO ENTERTAIN GUESTS ON BEHALF OF VIRGINIA WESLEYAN COLLEGE. PART I, LINE 4B DR. WILLIAM GREER - SUPPLEMENTAL NON-QUALIFIED REQUIREMENT PLAN THROUGH A RABBI TRUST - $25,000 PAID BY THE COLLEGE. HE IS FULLY VESTED IN THE PLAN. A CITY OF VB DEV AUTH 540947964 NONEAVAIL 2012-09-28 31159119 REFINANCE OF ADDL FACILITIES 0 0 0 A 31159119 166183 30992936 2012 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 SUNTRUST BANK 30.000000000000 1 1 0 0 0 A 0 6788 TUITION REMISSION (BASED ON SAME CRITERIA AS OTHER EMPLOYEES) TUITION REMISSION X 7 1708715 STOCK QUOTE 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE COMMITTEE REVIEWS THE 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND TRUSTEES ARE REQUIRED TO ANNUALLY SIGN A FORM STATING THAT THERE ARE NO CONFLICTS OF INTEREST BETWEEN THEMSELVES AND THE COLLEGE. IF A CONFLICT DOES OCCUR DURING THE YEAR, IT IS REPORTED TO THE PRESIDENT AND THE CHARIMAN OF THE BOARD. ADDITIONALLY, IN THE EVENT OF A CONFLICT, THAT PERSON WILL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSION AND VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS APPROVED BY THE INDEPENDENT EXECUTIVE COMMITTEE. THE AMOUNT OF THE COMPENSATION IS DETERMINED USING DATA FROM OTHER COLLEGES OF A SIMILAR SIZE. SUCH MEETINGS ARE DOCUMENTED. THE COMPENSATION FOR THE OTHER OFFICERS AND KEY EMPLOYEES ARE DETERMINED IN THE SAME MANNER AS THE PRESIDENT'S COMPENSATION AND IS APPROVED BY THE PRESIDENT. SUCH COMPENSATION IS DOCUMENTED IN THE PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST FORM 990, PART XI, LINE 9: LOSS ON INTEREST RATE SWAP CONTRACT -172,399. ANNUITY ADJUSTMENT -43,579.