2013-04-30T16:42:01-05:00 2012-06-30 043000523 O'CONNOR & DREW PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2011-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 JAN WEISEN 6177453000 2013-04-16 1 DAVID A DIIULIS P00303577 6174711120 2013-04-16 2011 2016-03-07 17:11:31Z JAN WEISEN 23 EAST ELM AVENUE QUINCY MA 02170 36386305 0 X WWW.ENC.EDU X 1920 MA THE MISSION OF EASTERN NAZARENE COLLEGE IS TO SERVE GOD, THE CHURCH, AND THE WORLD BY PROVIDING A QUALITY LIBERAL ARTS EDUCATION TO STUDENTS OF ALL AGES. CONSISTENT WITH ITS WESLEYAN HERITAGE, ENC SEEKS TO CREATE AND MAINTAIN AN ENVIRONMENT WHICH AWAKENS AND FOSTERS TRUTH, RIGHTEOUSNESS, JUSTICE AND HOLINESS AS MADE POSSIBLE BY GODS TRANSFORMING GRACE THROUGH JESUS CHRIST. 43 43 756 138 0 0 3528368 3478977 16627970 18532323 564254 267942 182266 -204963 20902858 22074279 1008119 905640 0 0 11697133 11969797 0 0 866512 8544028 8092288 21249280 20967725 -346422 1106554 48740338 49036535 20786688 20461944 27953650 28574591 X THE MISSION OF EASTERN NAZARENE COLLEGE IS TO SERVE GOD, THE CHURCH, AND THE WORLD BY PROVIDING A QUALITY LIBERAL ARTS EDUCATION TO STUDENTS OF ALL AGES. CONSISTENT WITH ITS WESLEYAN HERITAGE, ENC SEEKS TO CREATE AND MAINTAIN AN ENVIRONMENT WHICH AWAKENS AND FOSTERS TRUTH, RIGHTEOUSNESS, JUSTICE AND HOLINESS AS MADE POSSIBLE BY GODS TRANSFORMING GRACE THROUGH JESUS CHRIST. 0 0 11694900 905640 18532323 COLLEGE GRANTS BACHELOR AND MASTER DEGREES TO QUALIFIED CANDIDATES UPON SATISFACTORY COMPLETION OF THEIR PROGRAM REQUIREMENTS. TO ACCOMPLISH THIS PURPOSE, THE COLLEGE ENROLLED 1,300 FULL AND PART-TIME UNDERGRADUATE AND GRADUATE STUDENTS, WITH A VAST MAJORITY OF THESE STUDENTS LIVING IN CAMPUS HOUSING. THE COLLEGE OPERATES A BOOKSTORE AND CAFETERIA FOR THE PRIMARY USE OF THE STUDENTS, FACULTY, AND STAFF. THE COLLEGE OPERATES HOUSING FACILITIES FOR STUDENTS, FACULTY, AND STAFF TO MEET THE EXISTING NEEDS FOR SUCH FACILITIES. 11694900 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 54 0 1 756 1 0 0 0 0 0 0 0 0 0 1 1 0 X 43 43 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X BUSINESS OFFICE 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 ARTHUR ALEXANDER 0.60 X 0 0 0 AMY BARNARD 0.60 X 0 0 0 DON BAUSMAN JR 0.60 X 0 0 0 JANELLE BEILER 0.60 X 0 0 0 DEL BIEBER 0.60 X 0 0 0 JERRY BOHALL 0.60 X 0 0 0 JOHN BOWEN 0.60 X 0 0 0 BILL CARR 0.60 X 0 0 0 DAN CHUNG 0.60 X 0 0 0 JEFF COOK 0.60 X 0 0 0 WEBB CORBIN 0.60 X 0 0 0 DAVID CRAMER 0.60 X 0 0 0 BECKY DUNMAN 0.60 X 0 0 0 WILLIAM DYMENT 0.60 X 0 0 0 JOHN EVANS 0.60 X 0 0 0 J PHILLIP FULLER 0.60 X 0 0 0 WENTON FYNE 0.60 X 0 0 0 REBECCA GENTZLER 0.60 X 0 0 0 THOMAS GOLDEN 0.60 X 0 0 0 GEORGE GRESSETT 0.60 X 0 0 0 WAYNE HENNEN 0.60 X 0 0 0 JIM JACKSON 0.60 X 0 0 0 CECIL JONES 0.60 X 0 0 0 MICHELLE KINDT 0.60 X 0 0 0 YVES LATOUCHE 0.60 X 0 0 0 JAY LEWIS 0.60 X 0 0 0 RUSSELL LONG 0.60 X 0 0 0 SCOTT MACPHERSON 0.60 X 0 0 0 DAVID MANN 0.60 X 0 0 0 J BRET METCALFE 0.60 X 0 0 0 KENNETH MILLS 0.60 X 0 0 0 ALLEN PAYNE 0.60 X 0 0 0 RICHARD PRITCHARD 0.60 X 0 0 0 JAMES REARICK 0.60 X 0 0 0 REBECCA RIVERA 0.60 X 0 0 0 JONATHAN RUSSELL 0.60 X 0 0 0 STEVE SCOTT 0.60 X 0 0 0 NEWELL SMITH 0.60 X 0 0 0 KENNETH STANFORD 0.60 X 0 0 0 KELLY TATUM 0.60 X 0 0 0 WAVNY TOUSSAINT 0.60 X 0 0 0 MELODY TWITCHELL 0.60 X 0 0 0 SAM VASSEL 0.60 X 0 0 0 DR CORLISS MCGEE 40.00 X 196177 0 31415 JAN WEISEN 40.00 X 106401 0 22264 TIMOTHY WOOSTER 40.00 X 120200 0 33213 SCOTT TURCOTT 40.00 X 105200 0 31741 VERNON WESLEY 40.00 X 96388 0 17515 DR REV COREY MACPHERSON 40.00 X 92250 0 29650 716616 0 165798 4 0 1 0 HARVARD PILGRIM HEALTH CARE PO BOX 970050 BOSTON MA 022970050 HEALTH INSURANCE 1638272 PIONEER COLLEGE CATERERS INC 82 HART STREET NASHVILLE TN 37210 FOOD SERVICES 809594 ANDREWS INTERNATIONAL INC PO BOX 417142 BOSTON MA 022417142 SECURITY SERVICES 362529 NATIONWIDE LIFE INSURANCE COMPANY ONE BATTERYMARCH PARK QUINCY MA 021697454 HEALTH INSURANCE 172975 HR CONCEPTS LLC 111 CHARLES ST MANCHESTER NH 03101 HEALTH INSURANCE 122638 5 37888 523368 2917721 3478977 TUITION AND FEES 900099 14151719 14151719 ROOM AND BOARD 900099 4380604 4380604 18532323 275783 275783 368284 895513 -527229 -527229 -527229 13162168 75000 13185557 59452 -23389 15548 -7841 -7841 40000 37888 48086 -8086 -8086 119690 123418 -3728 -3728 MISCELLANEOUS FEES AND 900099 334080 334080 334080 22074279 18532323 0 62979 905640 905640 700600 183600 412000 105000 8400606 6061931 1998639 340036 461434 280673 153563 27198 1678692 1015625 585909 77158 728465 450651 247225 30589 21536 1238 20298 57000 57000 52165 52165 972530 902203 66167 4160 703318 328888 285092 89338 1616991 1052829 465817 98345 499300 8193 491107 4273 4273 1037019 74519 962500 335344 188707 82466 64171 39440 10745 25835 2860 440595 440595 1521015 1521015 210863 20160 190703 BAD DEBTS 301035 125921 175114 0 REPAIRS AND MAINTENANCE 224266 74565 146343 3358 MISCELLANEOUS EXPENSES 55598 4539 26760 24299 20967725 11694900 8406313 866512 149202 126759 2314919 1783697 164493 308607 1185070 2348005 1163563 1054134 248140 177192 170177 297333 51225297 28049147 23724124 23176150 18873350 18435929 27086 0 720214 1328729 48740338 49036535 1922659 2130986 651361 671578 84415 126741 18128253 17532639 20786688 20461944 X 15576729 15812343 3538145 3437408 8838776 9324840 27953650 28574591 48740338 49036535 X 1106554 -485613 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12924352 505763 455922 -474774 -57255 0 13354008 12257124 524965 185340 2730 10115 30232 12924352 11773262 447239 92059 2850 14649 37937 12257124 11989774 449687 -180530 369011 37008 79650 11773262 0.08000 0.70000 0.22000 1 0 1047718 1047718 12289905 6549252 5740653 23512677 9015965 14496712 14374997 12483930 1891067 23176150 REAL ESTATE HELD FOR INVESTMENT PURPOSES 9777356 F PUBLIC SECURITIES 1852577 F PRIVATELY HELD SECURITIES 10000 F MUTUAL FUNDS 6553878 F LIMITED PARTNERSHIP 242118 F 18435929 22074279 20967725 1106554 -485613 -485613 620941 22286900 -485613 -485613 22772513 52165 -750399 -698234 22074279 21665959 750399 750399 20915560 52165 52165 20967725 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE LARGELY COMPRISED OF SCHOLARSHIP FUNDS. THE GOAL OF THE COLLEGE'S ENDOWMENT SPENDING AND DISTRIBUTION POLICY IS TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT AND PROVIDE PREDICTABLE SUPPORT OF THESE SCHOLARSHIPS, AS WELL AS OPERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: UNITED STATES OF AMERICA GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A MORE LIKELY THAN NOT SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. INTEREST AND PENALTIES, IF ANY, RELATED TO ASSESSMENTS BY TAX AUTHORITIES WILL BE CLASSIFIED AS A COMPONENT OF INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY, IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NETS ASSETS. A TAX POSITION MAY BE CONSIDERED AS TAKEN ANY TIME A TAXPAYER CHOOSES AMONGST ALTERNATIVES THAT AFFECT THE AMOUNT OF THEIR TAX OBLIGATIONS AND INCLUDE FOR EXAMPLE: TAX EXEMPT STATUS; STATUS OF A PASS-THROUGH ENTITY (S CORPORATIONS, LLCS, ETC.); DECISIONS MADE IN THE PROCESS OF CONFORMING WITH TAX LAWS; DECISIONS NOT TO FILE IN CERTAIN JURISDICTIONS; ALLOCATION OF INCOME BETWEEN JURISDICTIONS; AND THE CHARACTERIZATION OF INCOME OR EXPENSES. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. THE COLLEGE HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SINCE THE CONTINUANCE OF THIS STATUS IS BASED UPON CONTINUING QUALIFICATION, THE COLLEGE HAS IDENTIFIED THIS AS A TAX POSITION. HOWEVER, IT HAS DETERMINED THAT THIS TAX POSITION MEETS "MORE LIKELY THAN NOT" SUSTAINABILITY AND DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. PART XII, LINE 2D: NET UNREALIZED LOSS ON INVESTMENTS -485,613 PART XII, LINE 4B: RENTAL EXPENSES (MORTGAGE INTEREST) ALLOCATED TO NET RENTAL LOSS -578,895 DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS -48,086 COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY -123,413 TOTAL -750,399 PART XIII, LINE 2D: RENTAL EXPENSES (MORTGAGE INTEREST) ALLOCATED TO NET RENTAL LOSS 578,895 DIRECT EXPENSES ALLOCATED TO NET LOSS FROM FUNDRAISING EVENTS 48,086 COST OF GOODS SOLD ALLOCATED TO NET LOSS FROM SALES OF INVENTORY 123,418 TOTAL 750,399 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN CATALOGS, FINANCIAL AID AND REGISTRATION INFORMATION, MAILINGS, AND EMPLOYEE HANDBOOK. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES CERTAIN FINANCIAL ASSISTANCE FROM GOVERNMENT AGENCIES TO PROVIDE AID TO STUDENTS FOR TUITION, BOOKS, AND OTHER EDUCATIONAL EXPENSES. CELEBRATION DINNER 77888 37888 40000 43326 2297 2463 77888 37888 40000 43326 2297 2463 48086 -8086 1 FEDERAL AND STATE FINANCIAL AID 984 503310 VARIOUS INSTITUTIONAL SCHOLARSHIPS 638 402330 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE FIRST INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY, REVIEWING BALANCES, AND CHECKING COMPLIANCE WTIH APPLICABLE AGENCY AND FEDERAL GUIDELINES. THE COLLEGE ALSO MAKES SURE THAT THE EXPENSE FALLS WITHIN THE REQUIRED CATEGORY AND BUDGETARY AMOUNT. THIS INCLUDES REVIEWING EXPENSE CATEGORIES, REBUDGETING OR TRANSFERRING EXPENSES AS NEEDED, AND DETERMINING IF THE AWARD WILL BE UNDERSPENT AT THE END OF THE BUDGET OR GRANT PERIOD. X X 0 0 0 0 0 0 0 0 0 DR CORLISS MCGEE 196177 0 0 0 0 0 0 0 31415 0 227592 0 0 0 TIMOTHY WOOSTER 120200 0 0 0 0 0 0 0 33213 0 153413 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 BOARD MEMBERS REVIEWED AND EXAMINED FORM 990 FOR ACCURACY. UPON BOARD APPROVAL THIS FORM IS FILED. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO ATTEST ANNUALLY TO THEIR FAMILIARITY WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 A DELEGATED COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DELIBERATING AND DECIDING ON AN APPROPRIATE COMPENSATION FOR THE PRESIDENT, VICE-PRESIDENTS, AND OTHER KEY EMPLOYEES. THIS COMMITTEE CONSISTS OF IMPARTIAL DECISION MAKERS; UTILIZES COMPARABILITY DATE; AND DOCUMENTS ALL DECISIONS AND DELIBERATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE DOES NOT MAKE ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE COLLEGE'S FINANCIAL STATEMENTS ARE REQUIRED TO BE ATTACHED TO THE COLLEGE'S STATE INFORMATIONAL RETURN (I.E. MASSACHUSETTS FORM PC) ON AN ANNUAL BASIS. BOTH THE COLLEGE'S STATE INFORMATIONAL RETURN AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AND UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -485,613. FORM 990, PART XII, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. EASTERN NAZARENE COLLEGE FOUNDATION 23 EAST ELM AVENUE QUINCY MA 02170 205469178 PROVIDE SUPPORT AND GUIDANCE TO THE COLLEGE MA 501(C)(3) 11A TYPE I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0