2015-03-26T11:22:12-05:00 2014-06-30 581729751 Metcalf Davis CPAs 3340 Peachtree Road NE Suite 2600 Atlanta GA 303261089 990 2013-07-01 580593414 Young Harris College YOUN 7063793111 PO Box 68 Young Harris GA 30582 Wade M Benson Vice President for Business 7063793111 2015-03-26 1 E Wayne Williams Jr P00294425 4042641700 2015-03-26 2013 2016-02-25 16:41:14Z L Cathy Cox PO Box 68 Young Harris GA 30582 131091454 0 X www.yhc.edu X 1886 GA Young Harris College educates, inspires, and empowers students through a comprehensive liberal arts experience that integrates mind, body, and spirit. 48 39 741 47 -36122 -36122 16400616 5535626 31596439 35650292 5620031 6220838 -14043 -38289 53603043 47368467 15050124 16351666 0 0 14475959 14963921 118085 87875 2625899 15518361 16940494 45162529 48343956 8440514 -975489 207714931 230464519 58016027 72061354 149698904 158403165 X Young Harris College educates, inspires, and empowers students through a comprehensive liberal arts experience that integrates mind, body, and spirit. 0 0 8951138 26794638 Instructional: Funds expended to educate students through a comprehensive liberal arts bachelor's degree program delivered through innovative academic instruction. Enrollment in 2013-2014 included approximately 1,199 students. Academic offerings include Art, Biology, Business and Public Policy, Chemistry, Communications Studies, Education (Early Childhood), Education (Middle Grades), English, History, Mathematics, Music, Music Education, Outdoor Leadership, Psychology, Religious Studies, Spanish and Theatre. 3005679 Academic Support: Funds expended to provide faculty administration and support, faculty development opportunities, curriculum enrichment and library, technology, and research and planning services. These expenditures are integral to the operation and support of quality academic programs and the retention and empowerment of excellent faculty. Curriculum and program development expenses are recorded in this category. 16351666 16351666 Student Financial Assistance: The College is committed to recruiting excellent students and helping secure the necessary and appropriate resources to meet the cost of an excellent education. The comprehensive student financial assistance program includes scholarships, grants, loans, and part-time campus employment. 98.25% of the students enrolled during 2013-2014 received some form of financial assistance. The College committed additional resources to meeting the needs of the students in response to increased occurrences of financial need during this year. 6186840 236650 Student Services: Funds expended for innovative programs and services which challenge students culturally, athletically and spiritually. The College strives to recruit and retain excellent students and empower them to reach their full potential. These expenditures provide support for extracurricular activities and student related services at the College which are essential to the students' well being and contribute to the quality of life outside the formal academic programs. Also, expenditures for student involvement in projects that impact the local community are included. 6594244 8619004 Auxiliary Services: Funds expended for meal services and the operation, repair and maintenance of the College's residence halls, dining hall, and recreation facility. 12781084 8855654 41089567 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 104 0 1 741 1 1 1 0 0 0 0 1 1 0 0 0 0 X 48 39 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 1 0 GA X Wade M Benson CPA 7063793111 1 College Street Young Harris GA 305820068 L Cathy Cox President/Ex Officio Trustee 40.00 X X 278079 0 260080 M Brantley Barrow Board Chair / Executive Committee Chair 1.00 X X 0 0 0 James T Johnston Jr Secretary / Athletics Committee Chair 1.00 X X 0 0 0 Wyck A Knox Jr Vice Board Chair/Finance Committee Chair 1.00 X X 0 0 0 Julie D Salisbury Marketing Committee Chair 1.00 X 0 0 0 Jonathan F Anderson Properties Committee Chair 1.00 X 0 0 0 Rene' M Diaz Academic Affairs Committee Chair 1.00 X 0 0 0 Margaret R Buker Student Affairs Committee Chair 1.00 X 0 0 0 Dr Don A Harp Jr Trusteeship, Goveranace, and Compensation Chair 1.00 X 14400 0 0 Pam R Rollins Development Committee Chair 1.00 X 0 0 0 Kurt T Momand Endowment Committee Chair 1.00 X 0 0 0 Paul D Beckham Trustee 0.50 X 0 0 0 Alleen D Bratton Trustee 0.50 X 0 0 0 Richard J Burrell Trustee 0.50 X 0 0 0 Thomas M Carroll Trustee 0.50 X 0 0 0 The Hon Earl L Carter Trustee 0.50 X 0 0 0 Julia Webb Davis Trustee 0.50 X 0 0 0 Dr James F Ellison Trustee 0.50 X 0 0 0 Clair W Frazier Trustee 0.50 X 0 0 0 Alvin Gibson Trustee 0.50 X 0 0 0 Rev David T Haygood Sr Trustee 0.50 X 0 0 0 Robert L Head Trustee 0.50 X 0 0 0 Dr William Harry Hill Trustee 0.50 X 0 0 0 W Ron Hinson Trustee 0.50 X 0 0 0 Henry M Huckaby Trustee 0.50 X 0 0 0 Gerald W Hudgins Trustee 0.50 X 0 0 0 Ray P Lambert Jr Trustee 0.50 X 0 0 0 Rubye M Lucas Trustee 0.50 X 0 0 0 Richard W McGinnis Trustee 0.50 X 0 0 0 Ted McMullan Trustee 0.50 X 0 0 0 The Hon Murphy Miller Trustee 0.50 X 0 0 0 The Hon Zell B Miller Trustee 0.50 X 0 0 0 Jerry W Nix Trustee 0.50 X 0 0 0 Dr Robert V Ozment Trustee 0.50 X 0 0 0 David A Pattillo Trustee 0.50 X 0 0 0 Loulie Tarbutton Reese Trustee 0.50 X 0 0 0 William F Roberts Trustee 0.50 X 0 0 0 Jane Peeples Stanfield Trustee 0.50 X 0 0 0 Jimmy C Tallent Trustee 0.50 X 0 0 0 Michele T White Trustee 0.50 X 0 0 0 James E Williams Trustee 0.50 X 0 0 0 Kirk S Wimberly III Trustee 0.50 X 0 0 0 The Hon Charles S Wynne Trustee 0.50 X 0 0 0 Rev Cindy Autry Ex-Officio Trustee 0.50 X 0 0 0 Roman Martin Ex-Officio Trustee 0.50 X 0 0 0 Robert M Murray Ex-Officio Trustee 0.50 X 0 0 0 Rev Richard Chewning Ex-Officio Trustee 0.50 X 0 0 0 Bishop B Michael Watson Ex-Officio Trustee 0.50 X 0 0 0 David R Leopard Senior VP of Finance and Admin/Treasurer 40.00 X 162478 0 37842 Dr Gary L Myers VP of Academic Affairs 40.00 X 164082 0 19939 Jay T Stroman VP of Advancement 40.00 X 156031 0 19179 Wade M Benson VP of Business 40.00 X 111720 0 41679 886790 0 378719 5 0 1 0 Choate Construction Company 8200 Roberts Road Suite 600 Atlanta GA 30350 General Contractor 12474215 Hardin Construction Company LLC 3301 Windy Ridge Parkway Ste 400 Atlanta GA 303395618 General Contractor 10810558 Sodexo Inc PO Box 536922 Atlanta GA 30353 Food and Physical Plant Services 3330785 Lipman Hearne PO Box 88634 Dept A Chicago IL 60680 Advertising Consultants 727213 Brailsford & Dunlavey 1140 Connecticut Avenue NW Suite 4 Washington DC 20036 Facility Planners 615923 10 83910 458421 4993295 53001 5535626 Tuition & fees 611710 26794638 26794638 Auxiliary services 611710 8619004 8619004 Student support 611710 236650 236650 35650292 3267838 3267838 86651312 83698312 2953000 2953000 2953000 22508 83910 24675 -2167 -2167 Income (loss) from rec center mem 713940 -2456 -2456 Income (loss) from partnerships 523000 -33666 -33666 -36122 47368467 35650292 -36122 6218671 14460510 14460510 1891156 1891156 755141 192039 548702 14400 10700858 9273370 741142 686346 680186 568045 71674 40467 2047354 1746331 199820 101203 780382 659344 74194 46844 74363 74363 64847 64847 87875 87875 178500 178500 387311 275995 111316 1377089 218046 74637 1084406 3155415 3065616 42601 47198 1898885 1862811 15463 20611 875755 714628 44418 116709 1764402 1764402 3540363 3442112 70428 27823 358863 134511 224352 Student meals 1696988 1668537 15267 13184 Other expense 582717 331564 248395 2758 Programs and promotions 483641 317362 0 166279 Printing and Postage 300460 134083 14376 152001 200895 133507 49593 17795 48343956 41089567 4628490 2625899 2045714 1930381 12028739 7152794 33733 96692 860968 941119 650321 1356751 133707536 32093131 72349907 101614405 50139886 41397657 65330375 71966220 4275288 4008500 207714931 230464519 4785748 5437877 52185949 65500000 1044330 1123477 58016027 72061354 X 39330453 60851266 39032972 19618231 71335479 77933668 149698904 158403165 207714931 230464519 X -975489 3059600 6620150 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 41511602 510097 6578587 5452047 43148239 42573961 176515 5191710 6430584 41511602 48772461 797380 -1752224 5243656 42573961 43385308 1476550 11693503 7782900 48772461 42118360 515138 7831147 7079337 43385308 0.44120 0.49370 0.06510 1 0 3171789 3171789 72305508 13618120 58687388 7787526 5088267 2699259 16236355 13386744 2849611 34206358 34206358 101614405 Flexible capital 9319191 F Beneficial interest in perpetual trust 56077668 F Beneficial interest in remainder trust 2340516 F Investments held in trust for others 3628950 F Real estate 599895 F 71966220 Due to beneficiaries 638080 Deposits 485397 1123477 X 40715139 3059600 11375 6627363 9698338 31016801 16351666 16351666 47368467 32010878 11375 7213 18588 31992290 16351666 16351666 48343956 Part V, Line 4: The endowment funds are used for scholarships, academic chairs, library, public programs, maintenance, long-term facility repairs and replacement, and other. Part X, Line 2: The College is recognized as an organization which is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code (the "Code") whereby only unrelated business income, as defined by Section 512(a)(1) of the Code, is subject to federal tax. The College's policy is to record a liability for any tax position 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, 2014 and 2013 and, accordingly, no liability has been accrued. Generally the IRS may examine a tax return for three years from the date it is filed. At June 30, 2014, tax years ended June 30, 2011, 2012 and 2013 remain open for a possible examination by the IRS. Part XI, Line 2d - Other Adjustments: Change in value of split interest agreements 6,627,363. Part XI, Line 4b - Other Adjustments: Scholarships and financial assistance 16,351,666. Part XII, Line 2d - Other Adjustments: Distribution to beneficiaries 7,213. Part XII, Line 4b - Other Adjustments: Scholarships and financial assistance 16,351,666. 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 College publishes and upholds the following policy: "Young Harris College does not discriminate on the basis of race, color, religion, sex, age, national origin or ancestry, physical or mental disability, veteran status, genetic information and any other basis protected by federal, state, or local laws in the administration of its scholarship and loan program, admission, athletic, or other school administered College programs." All members of the College community are expected and obligated to uphold this policy. Schedule E, Part I, Line 6 The College receives aid from governmental agencies to support its student financial aid programs. In the current year, the College received and distributed governmental aid totaling $458,421. 1 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Program Services Study Abroad Programs 59466 Central America and the Caribbean 0 0 Investments 6089420 0 0 0 0 0 0 6148886 0 6148886 Financial Assistance Europe - 37 951110 Credit to bursar accounts Financial Assistance Middle East and North Africa - 1 33507 Credit to bursar accounts Financial Assistance Sub-Saharan Africa - Angola, 2 32300 Credit to bursar accounts Financial Assistance East Asia and the Pacific - 4 105161 Credit to bursar accounts Financial Assistance Central America and the Caribbean - 15 371084 Credit to bursar accounts Financial Assistance South America 8 228121 Credit to bursar accounts Financial Assistance North America - Canada 7 169873 Credit to bursar accounts 0 0 0 0 0 0 Part I, Line 2: Financial aid is credited directly to students' accounts through the business office. Foreign program services is based upon actual expenditures in the region. Part I, line 3: Accounting for foreign investments is based upon the fair market value at year end. X X X X X X X 1 Don A Harp Jr 2720 Winding Lane Atlanta GA 30319 Fundraising consulting 0 0 14400 -14400 Myers McRae PO Box 2831 Highlands NC 28741 Fundraising consulting 0 0 30000 -30000 Alexander Haas 3520 Piedmont Road Suite 300 Atlanta GA 30305 Fundraising consulting 0 0 30136 -30136 74536 -74536 Clay Dotson Open 106418 83910 22508 1470 8554 14651 106418 83910 22508 1470 8554 14651 24675 -2167 1 Scholarships and financial assistance 1104 14460510 Part I, Line 2: Young Harris College develops financial aid awards based upon a combination of factors, including the student's demonstrated financial need as determined by the FAFSA or other family financial indicator as accepted by the College, high school GPA, and SAT or ACT scores. Aid is to be awarded in the manner which best serves the greatest number of students and which is in keeping with the intent of the various campus programs. All institutional financial aid awards are made in accordance with the student's ability to maintain satisfactory academic progress. The Financial Aid Department monitors the students' satisfactory academic progress annually for institutional aid to determine continued eligibility. Standards are set on qualitative and quantitative progress. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 L Cathy Cox President/Ex Officio Trustee 278079 0 0 0 0 0 241432 0 18648 0 538159 0 0 0 David R Leopard Senior VP of Finance and Admin/Treas 162478 0 0 0 0 0 9999 0 27843 0 200320 0 0 0 Dr Gary L Myers VP of Academic Affairs 164082 0 0 0 0 0 10320 0 9619 0 184021 0 0 0 Jay T Stroman VP of Advancement 156031 0 0 0 0 0 9622 0 9557 0 175210 0 0 0 Wade M Benson VP of Business 111720 0 0 0 0 0 9398 0 32281 0 153399 0 0 0 Part I, Line 1a The President of the College is provided with a residence on its campus as a condition of employment to perform responsibilities integrally related to her responsibilities. Accordingly, the value of this housing is not included in taxable compensation. United Community Bank Inc Bank officers and board include the College's President and three Trustees. 1184326 The College has several cash accounts with this local area bank which also participates in the College's loan syndication. The bank's Chief Executive Officer, Jimmy C. Tallent, is a member of the College's Board of Trustees. The College's President, L. Cathy Cox, is a director of the bank and two other members of the College's Board of Trustees, Robert L. Head and Zell B. Miller, are emeritus directors of the bank. Neither the College's President, nor the three Board of Trustee members were involved in the decision to select this bank as service provider to the College. 0 Hardin Construction Company LLC Company's Chairman is a College Trustee. 10810558 During the fiscal year ended June 30, 2013, the College entered into an agreement with this company to oversee the construction of a freshman residence hall. The residence hall was placed in service in August 2013. The former Chairman of this construction company, M. Brantley Barrow, is a member of the College's Board of Trustees. The terms of the construction contract are more favorable to the College than the quotes received from other firms, and the Board Member who was the Chairman of this company was not involved in the selection process. 0 Atlantic Capital Bank Bank's board includes one Trustee. 353299 The College has a cash account at this Atlanta area bank which facilitated, administers, and participates in the College's loan syndication. One of the College's Trustees, Rene' M. Diaz, is also on the bank's board. This Trustee was not involved in the decision to select this bank as a service provider to the College. 0 X 922 Estimated fair value X 7 40278 Listed exchange value X Equipment/fur 5 7346 Estimated fair value X Supplies 10 4455 Estimated fair value 0 1 0 Form 990, Part VI, Section A, line 2 The Honorable Zell B. Miller and the Honorable Murphy Miller are father and son, respectively, and both serve on the College's Board of Trustees. Form 990, Part VI, Section A, line 2 The College's President and three members of the College's Board of Trustees have a business relationship with a local area bank, United Community Bank, Inc. The bank's Chief Executive Officer, Jimmy C. Tallent is one of the College's Board of Trustees. The College's President, L. Cathy Cox, is a director of the bank and two other members of the College's Board of Trustees, Robert L. Head, Jr. and Zell B. Miller, are emeritus directors of the bank. Form 990, Part VI, Section B, line 11 The Form 990 is sent electronically or by direct mail to all voting Trustees for review prior to filing. Form 990, Part VI, Section B, line 12c The organization reviews and monitors any possible conflicts that are listed on the annual required disclosures filed by the officers, directors and employees. Form 990, Part VI, Section B, line 15 The Trusteeship, Governance, Compensation Committee of the Board of Trustees reviews and approves the President's compensation. The Vice Presidents' compensation is reviewed and approved by the President. The Human Resource Office maintains comparability data and all employee information. Form 990, Part VI, Section C, line 18 The College's Form 990 is available upon request. Form 990, Part VI, Section C, line 19 The College's governing documents are available upon request. Form 990, Part VI, Section B, Line 16b: The College's equity interest in any joint venture is so small and in the nature of an investment interest, rather than as an active participant in the activities of any venture. As such, it is not necessary to have initiation and veto powers. These investments are permitted under the provisions of the College's investment policy and evaluated on a case-by-case basis with consideration of the protection of the College's tax-exempt status. Form 990, Part XI, line 9: Change in value of split interest agreements 6,627,363. Distribution to beneficiaries -7,213.