2015-11-12T11:06:57-07:00 2015-06-30 990 2014-07-01 570314415 SPARTANBURG METHODIST COLLEGE SPAR 8645874200 1000 Powell Mill Road Spartanburg SC 29301 Eric McDonald VP for Business Affairs 8645874200 2015-11-12 2014 2016-02-25 16:41:14Z Eric McDonald 1000 Powell Mill Road Spartanburg SC 29301 18079588 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. 23 23 359 39 0 0 1859455 1588343 16129838 15842868 444185 441542 65854 5434 18499332 17878187 5264689 4753967 0 0 7076989 6795533 0 0 529176 6378651 6217767 18720329 17767267 -220997 110920 51245497 51163003 12389919 11874564 38855578 39288439 X 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 11070518 4753967 11895008 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. 3482873 0 3986446 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 14553391 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 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 39 0 359 1 0 0 0 0 0 1 1 0 0 0 0 X 23 23 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 Carol Burdette Board Member 1 0 X 0 0 0 Darrell Campbell Board Member 1 0 X 0 0 0 Phyllis DeLapp Board Member 1 0 X 0 0 0 Charlotte Ellis Board Member 1 0 X 0 0 0 John Gramling II Board Member 1 0 X 0 0 0 Marianna Black Habisreutinger Board Member 1 0 X 0 0 0 Steven Hahn Board Member 1 0 X 0 0 0 Mark Hammond 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 Will Malambri Board Member 1 0 X 0 0 0 Kathleen McKinney 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 Elizabeth Patterson Board Member 1 0 X 0 0 0 John Ramsey Board Member 1 0 X 0 0 0 Patsy Simmons 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 Phinnize Fisher Chairperson of the Board 1 0 X X 0 0 0 Ray Lattimore Recording Secretary 1 0 X X 0 0 0 Jim Thompson Vice Chairperson of the Board 1 0 X X 0 0 0 Anita Bowles Vice President of Academic Affairs 50 0 X 102686 0 9722 Robert Fuzy Vice President of Development 45 0 X 100247 0 5482 Colleen Perry Keith President of the College 60 0 X 184051 0 20360 Eric McDonald Vice President of Business Affairs 45 0 X 90592 0 14197 Daniel Philbeck Vice President of Enrollment Management 45 0 X 84047 0 4674 561623 0 54435 3 0 1 0 Sodexo Inc & Affiliates PO Box 536922 Atlanta GA 30353 Food Service 1443639 GCA Services Group PO Box 534198 Atlanta GA 30353 Cleaning services 165647 Roebuck Wholesale Nursery PO Box 1053 Roebuck SC 29376 Landscaping 154594 The Walker Company 108 Woodrow Drive Clinton SC 29325 Construction 144211 Atchison Transportation PO Box 1728 Spartanburg SC 29304 Transportation 139675 7 0 0 95151 0 291979 1201213 149959 1588343 Tuition 900099 11856422 11856422 0 0 Auxillary 611710 3986446 3986446 0 0 0 0 0 0 15842868 433474 0 0 433474 0 0 0 0 0 0 0 0 11865 0 0 0 11865 0 11865 0 0 11865 128356 22000 126340 15948 2016 6052 8068 0 0 8068 14096 95151 59113 -45017 0 -45017 Other Revenue 900099 38586 38586 0 0 0 0 0 0 38586 17878187 15881454 0 408390 0 0 4753967 4753967 0 0 0 0 650535 117166 425162 108207 0 0 0 0 5079436 3804556 1048752 226128 196141 145637 44127 6377 485609 360570 109251 15788 383812 270803 88764 24245 0 0 0 0 22786 0 22786 0 45240 0 45240 0 0 0 0 0 0 0 43490 0 43490 0 633879 547967 65681 20231 91609 4650 86959 0 310998 168515 129266 13217 216373 212869 3504 0 0 0 0 0 1114253 1114253 0 0 409214 360785 36918 11511 0 0 0 0 20962 6948 12706 1308 17775 0 17775 0 0 0 0 0 1235315 988252 197650 49413 247751 66658 181093 0 LIBRARY BOOKS AND AUDIO VISUALS 20536 20536 0 0 FOOD SERVICE 1174762 1174762 0 0 PUBLIC RELATIONS AND RECRUITMENT 57096 6034 27973 23089 STUDENT LIFE AND STUDENT SERVICES 402869 377904 24965 0 152859 50559 72638 29662 17767267 14553391 2684700 529176 1000 1000 3278222 3866860 1125204 733125 109726 119143 0 0 0 0 158040 137715 5442 4736 5768 4013 40187805 16462162 24024212 23725643 20275416 19803808 1226004 1785692 0 0 1036463 981268 51245497 51163003 337267 338641 0 0 664400 748961 10788009 10251641 0 0 0 0 0 0 0 0 600243 535321 12389919 11874564 X 21181190 21804347 4952168 4626967 12722220 12857125 38855578 39288439 51245497 51163003 X 110920 265644 0 0 0 56297 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22007371 56185 664460 1062548 0 0 21665468 19376731 207580 3427255 1004195 0 0 22007371 16625549 1061903 2506181 816902 0 0 19376731 17592505 53512 -230388 790080 0 0 16625549 15083147 156718 3156331 803691 0 0 17592505 0.24 0.59 0.17 1 0 0 118047 118047 0 33485886 12954845 20531041 0 0 0 0 0 3752236 2715281 1036955 0 2831636 792036 2039600 23725643 0 Annuities Payable 260379 Advances from federal government 274942 535321 X 13461784 265644 0 0 56297 321941 13139843 43490 4694854 4738344 17878187 13028923 0 0 0 59113 59113 12969810 43490 4753967 4797457 17767267 Schedule D, Part V, Line 4 The majority of the endowment funds are donor designated to provide scholarships 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, 2015 and 2014 and, accordingly, no liability has been accrued. Tax years ended June 30, 2012 or later remain open to examination by taxing authorities. Schedule D, Part XI, Line 2d Change in value of split interest agreements $25,135 plus change in valuation of pledges $31,162. Schedule D, Part XI, Line 4b Tuition Discounts of $4,753,967 less direct expense of fundraising of $59,113. Schedule D, Part XII, Line 2d Direct expense related to fundraising event $59,113. Schedule D, Part XII, Line 4b Tuition discounts of $4,753,967 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 This 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. FALL 2014 GOLF 18523 13323 5200 0 0 4160 1040 0 1562 SPRING 2015 GOLF 90724 81828 8896 0 0 6600 2295 0 43456 0 109247 95151 14096 0 0 10760 3335 0 45018 59113 -45017 1 Scholarships and grants awarded to Spartanburg Methodist College Students 800 4753967 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 Colleen Perry Keith President of the College 184051 0 0 0 0 0 9445 0 10915 0 204411 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 0 0 6000000 0 0 0 154368 0 0 5845632 0 0 2006 0 0 1 1 B 0 0 7000000 0 0 0 113154 0 0 6886846 0 0 2012 0 0 1 1 A 0 0 0 0 0 0 0 1 0 1 B 0 0 0 0 0 0 0 1 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 11 126340 FMV X MISCELLANEOUS 70 23619 FOOD, SUPPLIES, AND OTHER 0 0 1 0 Form 990, Part III, Line 1 see attached for the continuation of the mission description Form 990, Part VI, Section B, Line 11b The IRS form 990 is reviewed by an independent accounting firm after being prepared by the Director of Financial Reporting. 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/her 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 of $25,135 plus change in valuation of pledges $31,162 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