2012-04-13T13:55:15-05:00 2011-05-31 MCGLADREY & PULLEN LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2010-06-01 566049935 WINGATE UNIVERSITY WING 7042338000 PO BOX 159 WINGATE NC 28174 DR JERRY E MCGEE 7042338000 2012-04-04 1 ADRIENNE MCKINNEY 3362724551 2010 2016-02-24 21:20:13Z DR JERRY E MCGEE PO BOX 3105 WINGATE NC 28174 120602602 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 38 37 1006 0 0 0 8084466 8060981 46599113 55230501 1407973 2520943 1242774 1713457 57334326 67525882 14003658 19411825 0 0 22389079 24475799 0 0 803771 16210842 17423358 52603579 61310982 4730747 6214900 93460320 113942349 21058126 33458587 72402194 80483762 THE MISSION OF WINGATE UNIVERSITY IS TO DEVELOP EDUCATED, ETHICAL, AND PRODUCTIVE CITIZENS AT HOME AND ABROAD. FOLLOWING ITS JUDEO-CHRISTIAN HERITAGE, THE UNIVERSITY SEEKS TO CULTIVATE THE FOLLOWING IN ITS STUDENTS: KNOWLEDGE, FAITH, AND SERVICE. 0 0 46002133 19411825 56895768 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, MATTHEWS AND HENDERSONVILLE, N.C. THE UNIVERSITY OFFERS 34 UNDERGRADUATE MAJORS, 37 MINORS AND CAREER CONCENTRATIONS, NUMEROUS PRE-PROFESSIONAL PROGRAMS, GRADUATE DEGREES IN BUSINESS, ACCOUNTING, EDUCATION, PHYSICIAN ASSISTANT STUDIES AND SPORT ADMINISTRATION, AND DOCTORATES IN PHARMACY AND EDUCATION. DURING THE FISCAL YEAR ENDED MAY 31, 2011, ENROLLMENT FOR FALL AND SPRING SEMESTERS WAS 2,373 AND 2,229 STUDENTS, RESPECTIVELY, AND THE TOTAL NUMBER OF GRADUATES WAS 414 FOR THE FISCAL YEAR. FINANCIAL AID WAS RECEIVED BY 2,173 STUDENTS AND SCHOLARSHIPS WERE GRANTED TO 1,620 STUDENTS. 46002133 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 193 0 1 1006 1 0 0 0 0 0 0 0 0 0 0 X 38 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X WILLIAM H DURHAM 7042338000 PO BOX 159 WINGATE NC 28174 EVELYN W BINGHAM 0.50 X 0 0 0 DR RUSSELL W BOOKER 0.50 X 0 0 0 GEORGE C BOWER JR 0.50 X 0 0 0 REBECCA BULLARD 0.50 X X 0 0 0 PORTER B BYRUM 0.50 X 0 0 0 LARRY W CARROLL 0.50 X 0 0 0 DANNY DAVIS 0.50 X 0 0 0 J BROOKS DAVIS 0.50 X 0 0 0 CC DICKSON JR 0.50 X 0 0 0 ELONA L EDWARDS 0.50 X 0 0 0 ANN P FERGUSON 0.50 X 0 0 0 HENRY E FRYE 0.50 X 0 0 0 JIM FURMAN 0.50 X 0 0 0 MEREDITH O GALVIN 0.50 X 0 0 0 HENRY GAYE 0.50 X 0 0 0 AGNES B GOLDSTON 0.50 X 0 0 0 H CLARK GOODWIN 0.50 X 0 0 0 WILLIAM F HARRIS 0.50 X 0 0 0 CLIFFORD E HEMINGWAY JR 0.50 X 0 0 0 DON HILL 0.50 X 0 0 0 JEWELL D HOOVER 0.50 X 0 0 0 CHARLES HOWARD 0.50 X 0 0 0 JOSEPH C HUNTER 0.50 X 0 0 0 THOMAS J KEAN 0.50 X 0 0 0 H JOE KING JR 0.50 X 0 0 0 JOHN A KING II 0.50 X 0 0 0 THOMAS J KOONTZ MD 0.50 X 0 0 0 JACK C LAIL 0.50 X 0 0 0 LAZELLE MARKS 0.50 X 0 0 0 JAMES MASON 0.50 X 0 0 0 WILLIAM MAST 0.50 X 0 0 0 DURAN G MCDONALD 0.50 X 0 0 0 LUTHER T MOORE 0.50 X X 0 0 0 JOSEPH H PATTERSON 0.50 X X 0 0 0 CLAUDIA S ROBINETTE 0.50 X 0 0 0 SKIP SMITH 0.50 X 0 0 0 JIMMY K STEGALL 0.50 X 0 0 0 DONALD C TAFT 0.50 X 0 0 0 BOBBY TAMPLIN 0.50 X 0 0 0 EVELYN V TAYLOR 0.50 X 0 0 0 CHARLIE TUCKER 0.50 X 0 0 0 DEIDRE VICK 0.50 X 0 0 0 JARVIS A WARREN 0.50 X 0 0 0 WP WATSON 0.50 X 0 0 0 SAMUEL K WELBORN JR 0.50 X 0 0 0 EDWARD L WEST 0.50 X 0 0 0 THOMAS E WILLIAMS 0.50 X X 0 0 0 C THOMAS WILSON 0.50 X 0 0 0 DR JERRY E MCGEE 40.00 X 1195828 0 29420 CHARLES E TAYLOR JR 40.00 X 144252 0 21742 DR MARTHA S ASTI 40.00 X 105281 0 18843 T RHETT BROWN 40.00 X 115000 0 18682 VINCENT TILSON 40.00 X 113497 0 11554 ROBERT STEVEN POSTON 40.00 X 96022 0 10547 ROBERT B SUPERNAW 40.00 X 206456 0 26979 CAROLYN FORD 40.00 X 124256 0 13465 SAMIR A KOUZI 40.00 X 112790 0 19948 GREGORY ALSTON 40.00 X 112730 0 10548 MICHAEL L MANOLAKIS 40.00 X 105386 0 10548 2431498 0 192276 20 0 1 0 CM BLACK CONSTRUCTION CO 797 DAVIDSON DRIVE NE CONCORD NC 28025 CONSTRUCTION 13229188 ARAMARK SERVICES INC PO BOX 198532 ATLANTA GA 30384 FOOD SERVICE 3242013 YATES CHREITZBERG HUGHES ARCHITECTS 145 UNION STREET SOUTH CONCORD NC 28025 ARCHITECTS 293811 LGA INC 4201 CONGRESS STREET SUITE 400 CHARLOTTE NC 28209 PUBLIC RELATIONS 285472 BB&T INSURANCE SERVICES PO BOX 890635 CHARLOTTE NC 28289 INSURANCE SERVICES 264569 13 131509 1823751 6105721 240260 8060981 TUITION AND FEES 611310 42649233 42649233 HOUSING 611310 10880813 10880813 BOOKSTORE REVENUE 611310 1188727 1188727 CAMPS & CONFERENCES 611310 423957 423957 FOOD SERVICE REVENUE 611310 87771 87771 55230501 694140 694140 74931 74931 74931 74931 54866458 52987411 52244 1879047 -52244 1826803 1826803 10324 131509 37065 -26741 -26741 STUDENT FEES 611310 756516 756516 ATHLETIC INCOME 611310 480515 480515 PHARMACY SCHOOL 611310 185364 185364 242872 242872 1665267 67525882 56895768 0 2569133 19411825 19411825 980225 314325 557885 108015 17586047 14733203 2449683 403161 917481 743160 149091 25230 3702824 2999287 601709 101828 1289222 1044270 209499 35453 80390 80390 61000 61000 141994 141994 3961925 672666 3220679 68580 294388 163819 130569 3121030 992576 2128454 1033913 934315 38094 61504 487813 487813 3066810 3066810 174589 174589 FOOD SERVICE 2567329 2567329 DEBT SERVICE 1006819 1006819 PHARMACY 963854 963854 RESIDENCE LIFE 368501 368501 BOOKSTORE 93003 93003 61310982 46002133 14505078 803771 2947283 185613 6971982 6879168 6999617 718301 1086039 662244 502635 477549 316586 280792 106591289 37768106 55770730 68823183 26943461 24915277 1480654 748096 693459 93460320 113942349 3839747 4360099 14470000 13170000 13000000 2748379 2928488 21058126 33458587 X 41130195 50412254 11534864 9919427 19737135 20152081 72402194 80483762 93460320 113942349 X 6214900 1866668 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24710442 394151 3977544 524020 86622 28471495 22403555 397046 2733416 823575 24710442 30823082 598431 -7157882 1860076 22403555 0.27560 0.72440 0 0 14413 4267577 4281990 85441485 25425847 60015638 198697 119718 78979 15714145 11505797 4208348 954972 716744 238228 68823183 CAPITAL LEASE OBLIGATIONS 118012 STUDENT AND STUDENT ORGANIZATION DEPOSITS 2060246 INTEREST RATE SWAP AGREEMENT 750230 2928488 67525882 61310982 6214900 1750447 116221 1866668 8081568 49954346 1750447 -19217054 -17466607 67420953 141994 -37065 104929 67525882 41794228 37065 37065 41757163 141994 19411825 19553819 61310982 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED AS DIRECTED BY DONOR STIPULATION AND APPLICABLE LAWS. THESE RESOURCES FUND SCHOLARSHIPS AND GRANTS, PLANT FACILITIES, AND OTHER PROGRAMS AND INITIATIVES THAT FURTHER THE VISION AND MISSION OF THE UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("FASB ASC"). PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 184,125. LOSS ON INTEREST RATE SWAP AGREEMENTS -67,904. PART XII, LINE 2D - OTHER ADJUSTMENTS: WINGATE UNIVERSITY FOUNDATION REVENUES INCLUDED IN CONSOLIDATION 78,550. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 184,125. RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS -19,411,825. LOSS ON INTEREST RATE SWAP AGREEMENTS -67,904. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES -37,065. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES 37,065. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS 19,411,825. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 TO FURTHER EDUCATIONAL MISSIONS, WINGATE UNIVERSITY RECEIVES FINANCIAL AID AND ASSISTANCE FROM VARIOUS FEDERAL AND STATE PROGRAMS IN SUPPORT OF ITS STUDENTS. DAY FOR WINGATE 79535 79535 5222 GOLF TOURNAMENT 58049 48200 9849 12000 16069 137584 127735 9849 12000 21291 33291 -23442 1 ENDOWED SCHOLARSHIPS 165 524020 RESTRICTED ANNUAL SCHOLARSHIPS 310 544817 STATE GRANTS 663 1628101 ATHLETIC SCHOLARSHIPS 351 2341929 CHURCH RELATED SCHOLARSHIPS 14 25070 ACADEMIC SCHOLARSHIPS 1644 12942410 NEED BASED SCHOLARSHIPS 404 1405478 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ELIGIBILITY FOR NEED-BASED SCHOLARSHIPS AND GRANTS IS DETERMINED ANNUALLY BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). ACADEMIC SCHOLARSHIPS ARE AWARDED UPON ENROLLMENT AND ELIGIBILITY IS FOR EIGHT SEMESTERS. AT THE END OF EACH SEMESTER, THE FINANCIAL PLANNING DEPARTMENT VERIFIES SATISFACTORY ACADEMIC PROGRESS HAS BEEN MAINTAINED IN ORDER TO DETERMINE CONTINUATION OF ALL SCHOLARSHIPS. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR JERRY E MCGEE 375408 0 42500 0 777920 0 26000 0 3420 0 1225248 0 0 0 CHARLES E TAYLOR JR 138752 0 5500 0 0 0 11194 0 10548 0 165994 0 0 0 ROBERT B SUPERNAW 201956 0 4500 0 0 0 16431 0 10548 0 233435 0 0 0 PART I, LINE 1A DR. JERRY E. MCGEE, PRESIDENT, HAS SOCIAL CLUB DUES OF $5,526 AND HOUSING ALLOWANCE OF $43,800 INCLUDED IN HIS REPORTABLE COMPENSATION. X 750 FAIR MARKET VALUE X 19 79435 FAIR MARKET VALUE X 2 104160 FAIR MARKET VALUE X PHARMACY EQUIPMENT 4 13078 FAIR MARKET VALUE X ATHLETIC EQUIPMENT 7 9813 FAIR MARKET VALUE X GOLF TOURNAMENT FEES 1 12000 COST X PHOTOGRAPHY 14 3835 FAIR MARKET VALUE X LIBRARY AUCTION ITEMS 23 3774 FAIR MARKET VALUE X HOTEL ROOMS 1 780 COST X MISCELLANEOUS 8 12635 FAIR MARKET VALUE 0 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS REPORTED AS THE NUMBER OF CONTRIBUTIONS. THIRD PARTY USE: PART I, LINE 32B: THE UNIVERSITY USES A REALTOR TO ASSIST IN SELLING CONTRIBUTED REAL PROPERTY. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL TRUSTEES AND KEY EMPLOYEES. EACH PERSON INFORMS WINGATE OF ANY POSSIBLE CONFLICT ON THE FORM THEY SIGN. THE CONFLICT OF INTEREST POLICY APPLIES ON MAJOR CONTRACTUAL ARRANGEMENTS WHERE OFFICERS, TRUSTEES, OR KEY EMPLOYEES HAVE AN INTEREST, TOTAL DISCLOSURE TO DECISION MAKER IS MADE. THE AFFECTED INDIVIDUAL RECUSES HIM/HERSELF FROM PARTICIPATION IN DISCUSSION AND VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE ADVISORY COMMITTEE OF THE BOARD OF TRUSTEES ("EAC") CONTRACTED WITH AN EXECUTIVE COMPENSATION CONSULTANT TO CONDUCT A COMPREHENSIVE EXECUTIVE COMPENSATION STUDY. THE CONSULTANT COMPARED THE EXECUTIVE SALARIES OF A PEER GROUP OF TEN (10) UNIVERSITIES IN NORTH CAROLINA, SOUTH CAROLINA AND TENNESSEE WITH THOSE AT WINGATE UNIVERSITY. THE CONSULTANT SUBMITTED THE DATA AND ASSESSMENT TO THE EAC. THE ASSESSMENT CONCLUDED THAT THE COMPENSATION FOR THE PRESIDENT AND THE PRESIDENT'S CABINET WAS CONSISTENT WITH THE PEER GROUP, AS WELL AS APPROPRIATE IN THE CONTEXT OF MARKET CONDITIONS FOR HIGHER EDUCATION IN THE CAROLINAS. ON THE BASIS OF THESE FINDINGS, THE EAC MADE COMPENSATION RECOMMENDATIONS TO THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE, WHICH APPROVED THE RECOMMENDATIONS. THE COMPENSATION RECOMMENDATIONS WERE THEN SUBMITTED TO THE ENTIRE BOARD OF TRUSTEES, WHERE THE RECOMMENDATIONS WERE APPROVED AND IMPLEMENTED. FORM 990, PART VI, SECTION C, LINE 19 SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,750,447. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 184,125. LOSS ON INTEREST RATE SWAP AGREEMENTS -67,904. TOTAL TO FORM 990, PART XI, LINE 5: 1,866,668. FORM 990, PART XI, LINE 2C, AUDIT COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED SINCE PRIOR YEAR. WINGATE UNIVERSITY FOUNDATION PO BOX 159 WINGATE NC 28174 561559907 ORGANIZED SOLELY FOR THE BENEFIT OF WINGATE UNIVERSITY NC 501(C)(3) LINE 11B, II WINGATE UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0