2012-03-01T07:32:30-06:00 2011-06-30 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1200 MARKET STREET CHATTANOOGA TN 37402 990 2010-07-01 620476661 TENNESSEE WESLEYAN COLLEGE TENN 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 LARRY WALLACE 4237465208 2012-03-01 0 JERRY SMITH CPA 4237567771 2012-02-13 2010 2016-02-24 21:20:13Z LARRY WALLACE 204 EAST COLLEGE STREET ATHENS TN 37303 23374263 0 X WWW.TWCNET.EDU X 1857 TN FOUR-YEAR LIBERAL ARTS COLLEGE 25 25 304 4 0 0 1586325 1167550 20104488 21457679 39682 178095 491585 570939 22222080 23374263 7968964 8507464 0 0 7236268 6639463 0 0 146118 7458178 7228553 22663410 22375480 -441330 998783 27565634 28726557 17948464 17154212 9617170 11572345 FOUR-YEAR LIBERAL ARTS COLLEGE 0 0 13331352 INSTRUCTIONAL - ENROLLED AND EDUCATED OVER 1,100 STUDENTS. 522779 ACADEMIC SUPPORT - INCLUDES THE FUNDS SPENT IN SUPPORT OF THE COLLEGE'S LIBRARY AND OTHER SIMILAR ACTIVITIES. 4342908 STUDENT SERVICES - INCLUDES THE FUNDS ASSOCIATED WITH THE SUPPORT OF THE COLLEGE'S STUDENTS ACADEMICS AND RELATED STUDENT ACTIVITIES. 21457679 21457679 18197039 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16 0 1 304 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 1 0 TN X GAIL HARRIS 4237465208 204 EAST COLLEGE STREET ATHENS TN 37303 JAMES WINER 2.00 X 0 0 0 DENNIE HUMPHREYS 2.00 X 0 0 0 MATTHEW BROOKSHIRE 2.00 X 0 0 0 SHARON S BROWN 1.00 X 0 0 0 C STEPHEN BYRUM 1.00 X 0 0 0 CARL E COLLOMS 1.00 X 0 0 0 CHARLES HARRISON 1.00 X 0 0 0 R DANNY HAYS 1.00 X 0 0 0 TENNA HORNSBY 1.00 X 0 0 0 BRYAN JACKSON 1.00 X 0 0 0 WILLIAM B KILBRIDE 1.00 X 0 0 0 CHARLES J LINER 1.00 X 0 0 0 H LYNN MASSINGALE 1.00 X 0 0 0 REGINA L MAYFIELD 1.00 X 0 0 0 DANIEL F MOORE 1.00 X 0 0 0 PAUL OTTAVIANO 1.00 X 0 0 0 CARY RATLIFF 1.00 X 0 0 0 THOMAS M REED 1.00 X 0 0 0 JOEL RILEY 1.00 X 0 0 0 JERRY SMITH 1.00 X 0 0 0 CLAIRE W TUCKER 1.00 X 0 0 0 DONALD Y WEBB 1.00 X 0 0 0 MARY FARMER WILLIAMS 1.00 X 0 0 0 MINTIE WILLSON 1.00 X 0 0 0 STEPHEN CONDON 40.00 X 92500 0 18218 SUZANNE T HINE 40.00 X 89375 0 10649 MARTHA CHAMBERS 40.00 X 73375 0 9671 LARRY WALLACE 40.00 X 68000 0 5910 SCOTT MASHBURN 40.00 X 70748 0 11236 STAN R HARRISON 40.00 X 76000 0 9690 SHIRLEY S WOODCOCK 1.00 X 0 0 0 469998 0 65374 0 0 0 0 ARAMARK CORP 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 1298407 NATIONAL MANGAMENT RESOURCES CORP PO BOX 1224 LA GRANGE GA 30241 MAINTENANCE 615407 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTIONS CENTER CHICAGO IL 60677 TEXTBOOK SERVICES 430533 JENZABAR PO BOX 845939 BOSTON MA 022845939 SOFTWARE MAINTENACE 247157 MURRAY GUARD INC PO BOX 1000 MEMPHIS TN 37148 SECURITY 126925 5 156934 1010616 1167550 TUITION 624310 19158338 19158338 FOOD SERVICE 722210 1357432 1357432 RESIDENCE HALL 721310 835525 835525 BOOKSTORE 451211 58879 58879 CAMPS AND CONFERENCES 900099 47505 47505 21457679 153622 153622 24473 24473 24473 24473 FORT SANDERS NURSING S 611600 409650 409650 INSURANCE DIVIDENDS/RE 900099 102712 102712 58577 58577 570939 23374263 22028618 0 178095 8507464 8507464 5344217 4194385 1045704 104128 202215 154295 46484 1436 566108 428469 129407 8232 526923 415831 106436 4656 45128 45128 46876 46876 41176 135 41041 214830 143750 69183 1897 1274841 1274841 868345 739113 129232 CONTRACTED SERVICES 1658086 1464792 193294 UTILITIES 612627 563124 49503 FACILITY FEES 283965 281907 2058 INSTITUTIONAL INSURANCE 205839 160410 45429 UNIFORMS AND OTHER SUPP 194612 145938 45978 2696 1782228 997426 761729 23073 22375480 18197039 4032323 146118 1300 1300 929366 913052 150000 124325 472589 909230 609099 232231 20006 18114 129912 134803 25846211 9200675 17150964 16645536 7828903 9480449 122000 122000 151495 145517 27565634 28726557 914108 575214 797457 910657 14545361 13968998 1691538 1699343 17948464 17154212 X -474454 1329350 880805 1085009 9210819 9157986 9617170 11572345 27565634 28726557 X 998783 956392 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9210819 83595 -136428 9157986 8911085 249302 50432 9210819 8967093 48472 65984 34172 114402 21890 8911085 0 0 597191 597191 17174788 4871604 12303184 2314514 867261 1447253 4509249 2609134 1900115 1250469 852676 397793 16645536 FEDERAL SHARE OF PERKINS LOAN PROGRAM 199530 AGENCY FUNDS 147146 SPLIT-INTEREST AGREEMENTS 117127 BOND INTEREST RATE SWAP 1235540 1699343 23374263 22375480 998783 1110304 -153912 956392 1955175 15977103 1110304 1110304 14866799 8507464 8507464 23374263 13868016 0 13868016 8507464 8507464 22375480 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: UNCERTAIN TAX POSITIONS THE COLLEGE IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE COLLEGE MAY BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. THIS INCOME IS REPORTED ON THE FEDERAL FORM 990T AS UNRELATED BUSINESS INCOME. THE COLLEGE FOLLOWS THE GUIDANCE OF ASC TOPIC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITYS FINANCIAL STATEMENTS. THIS INTERPRETATION PRESCRIBES 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. IN ADDITION, ASC TOPIC 740 PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE COLLEGE ADOPTED THE PROVISIONS OF ASC TOPIC 740 AND THEY HAD NO IMPACT ON THE FINANCIAL POSITION, RESULTS OF OPERATIONS, AND CASH FLOWS. THE COLLEGES EVALUATION WAS PERFORMED FOR TAX YEARS ENDED JUNE 30, 2009 THROUGH JUNE 30, 2011 FOR FEDERAL INCOME TAX, THE YEARS THAT REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF JUNE 30, 2011. CHANGE IN VALUE OF SWAP AGREEMENT, PERKINS LOANS, SPLIT-INTEREST AGREEMENTS, AND ASSET IMPAIRMENT WRITE-OFF $-153,912 FINANCIAL AID REPORTED AS A DISCOUNT TO REVENUE $8,507,464 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 MAINTAINS AN INSTITUTION THAT IS RACIALLY NONDISCRIMINATORY. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE IS APPROVED TO PROVIDE STUDENT ASSISTANCE WITH THE FEDERAL TITLE 4 STUDENT FINANCIAL AID PROGRAMS. 1 FINANCIAL-AID SCHOLARSHIP 998 8507464 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 SUPPLEMENTAL INFORMATION PART III THE COLLEGE REQUIRES THE PRESIDENT AND STUDENT LIFE VP TO LIVE ON CAMPUS. THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF MCMINN TENNESSEE 58235KAB6 2006-10-01 9500000 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 FEDERAL FORM 990 IS PRESENTED TO THE VICE PRESIDENT FOR FINANCIAL AFFAIRS WHO REVIEWS TO MAKE SURE NUMBERS ARE CORRECTLY REPORTED. VP FOR FINANCIAL AFFAIRS THEN PRESENTS 990 TO THE FINANCE COMMITTEE FOR REVIEW. THEY WILL THEN VOTE FOR APPROVAL. ONCE APPROVED THE 990 IS PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR REVIEW. FINAL APPROVAL IS MADE BY THE BOARD BEFORE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S SALARY IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARY SURVEYS ARE ALSO UTILIZED IN ORDER TO PROVIDE COMPARATIVE DATA FOR REVIEW PRIOR TO APPROVAL. OFFICERS SALARIES ARE SUGGESTED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO HIRE DATE. ONCE HIRED SALARIES ARE ADJUSTED BASED UPON PERFORMANCE AND RECOMMENDATIONS OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE ONLY AVAILABLE UPON REQUEST BY THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,110,304. CHANGE IN VALUE OF SWAP AGREEMENT 80,501. CHANGE IN VALUE OF PERKINS LOAN -60. ASSET IMPAIRMENT WRITE-OFF -323,609. CHANGE IN VALUE OF TRUSTS HELD BY THIRD PARTY 89,256. ROUNDING DIFFERENCES TOTAL TO FORM 990, PART XI, LINE 5: 956,392. 990 PART XII PAGE 12 LINE 2D THE OVERSIGHT PROCESS OR SELECTION PROCESS FOR THE FINANCIAL AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.