2012-05-10T18:41:19-05:00 2011-06-30 Metcalf Davis CPAs 3340 Peachtree Road NE Suite 2600 Atlanta GA 303261089 990 2010-07-01 580593414 Young Harris College YOUN 7063793111 PO Box 68 Young Harris GA 30582 Wade M Benson 7063793111 2012-05-09 1 E Wayne Williams Jr 4042641700 2012-05-09 2010 2016-02-24 21:20:13Z L Cathy Cox PO Box 68 Young Harris GA 30582 87144781 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. 43 35 639 42 -17411 -17411 8017922 27516717 17566574 21740518 4724305 5310420 -887 -28190 30307914 54539465 6710667 9090164 0 0 11202873 12562636 105145 156972 1903207 9582695 13452982 27601380 35262754 2706534 19276711 146132317 189936470 36323362 46102453 109808955 143834017 X Young Harris College educates, inspires, and empowers students through a comprehensive liberal arts experience that integrates mind, body, and spirit. 0 0 7322096 16079027 Instructional: Funds expended to educate students through comprehensive liberal arts bachelor's degree and associate's degree programs delivered through innovative academic instruction. Enrollment in 2010-2011 was comprised of approximately 880 students. Academic offerings include Allied Health, Art, Astronomy, Biology, Business and Public Policy, Chemistry, Communications Studies, Economics, Education, English, Foreign Language, History, Journalism, Liberal Arts, Mathematics, Music, Musical Theatre, Outdoor Education, Philosophy, Physics, Political Science, Psychology, Religious Studies, Science, Sociology, and Theatre. Young Harris College converted to a four-year institution from a two-year institution in 2008. The first of the new four-year degrees were conferred on May 7, 2011, with forty seniors earning their bachelor's degrees. 2776554 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. 9090164 9090164 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. 97.5% of the students enrolled during 2010-2011 received some form of financial assistance. The college has commited additional resources to meeting the needs of the students in response to increased occurences of financial need during this year. 5425592 342186 Student Services: Funds expended for innovative programs and services 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 extra-curricular 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. This also includes expenditures for student involvement in projects that impact the local community. 5090069 5319305 Auxiliary Services: Funds expended for meal services and the operation, repair and maintenance of the College's residence halls and dining facility. 10515661 5661491 29704475 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 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 0 1 68 0 639 1 1 1 0 0 0 0 1 1 0 0 0 0 X 43 35 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 Jerry W Nix 1.00 X X 0 0 0 Douglas B Mitchell 1.00 X X 0 0 0 James T Johnston Jr 1.00 X X 0 0 0 Julie D Salisbury 1.00 X 0 0 0 Jonathan F Anderson 1.00 X 0 0 0 M Brantley Barrow 1.00 X 0 0 0 Clair W Frazier 1.00 X 0 0 0 Dr Don A Harp Jr 1.00 X 14400 0 0 Wyck A Knox Jr 1.00 X 0 0 0 Pamela Rollins 1.00 X 0 0 0 Paul D Beckham 0.50 X 0 0 0 Alleen D Bratton 0.50 X 0 0 0 Margaret R Buker 0.50 X 0 0 0 Richard J Burrell 0.50 X 0 0 0 The Hon Earl L Carter 0.50 X 0 0 0 Dr James R Ellison 0.50 X 0 0 0 Alvin Gibson 0.50 X 0 0 0 Rev David T Haygood Sr 0.50 X 0 0 0 Robert L Head 0.50 X 0 0 0 Dr William Harry Hill 0.50 X 0 0 0 Henry M Huckaby 0.50 X 0 0 0 Gerald W Hudgins 0.50 X 0 0 0 Ray P Lambert Jr 0.50 X 0 0 0 The Hon T Bert Lance 0.50 X 0 0 0 Rubye M Lucas 0.50 X 0 0 0 Richard W McGinnis 0.50 X 0 0 0 The Hon Murphy Miller 0.50 X 0 0 0 The Hon Zell B Miller 0.50 X 0 0 0 Kurt T Momand 0.50 X 0 0 0 Dr Robert V Ozment 0.50 X 0 0 0 David A Pattillo 0.50 X 0 0 0 William F Roberts 0.50 X 0 0 0 Jimmy C Tallent 0.50 X 0 0 0 Jones Webb 0.50 X 0 0 0 Michele T White 0.50 X 0 0 0 The Hon Charles S Wynne 0.50 X 0 0 0 Rene M Diaz 0.50 X 0 0 0 Rev Cindy Autry 0.50 X 0 0 0 Carol A Chastain 0.50 X 0 0 0 Emalyn Cork 0.50 X 0 0 0 Rev Richard Chewning 0.50 X 0 0 0 Bishop B Michael Watson 0.50 X 0 0 0 L Cathy Cox 40.00 X 208010 0 31224 Jay T Stroman 40.00 X 162955 0 19357 Dr Ronald R Ingle 40.00 X 127200 0 810 David Leopard 40.00 X 0 0 0 Wade M Benson 40.00 X 108808 0 19042 Dr Ronald R Roach 40.00 X 89954 0 15092 Clinton Hobbs 40.00 X 80928 0 17728 Rosemary Rhodes Royston 40.00 X 73400 0 15653 Susan L Rogers 40.00 X 65565 0 13416 Kenneth W Fanueff 40.00 X 80686 0 14821 1011906 0 147143 4 0 1 0 Hardin Construction Company LLC 3301 Windy Ridge Parkway Ste 400 Atlanta GA 30339 General Contractor 8192086 CHA Tech Services 270 Peachtree Street NW Suite 1500 Atlanta GA 30303 General Contractor 1589909 ARAMARK 1101 Market Street Philadelphia PA 19107 Food Service 936468 VMDO 200 East Market Street Charlottesville VA 22902 Architects 836352 Brailsford & Dunlavey 1140 Connecticut Avenue NW Suite 4 Washington DC 20036 Facility Planners 774429 11 63359 65514 27387844 253864 27516717 Tuition & fees 611710 16079027 16079027 Auxiliary services 611710 5319305 5319305 Student Support 611710 342186 342186 21740518 3084753 3084753 34802254 32576587 2225667 2225667 2225667 17950 63359 28729 -10779 -10779 Income (loss) from par 523000 2528 2528 Income (loss) from rec 713940 -19939 -19939 -17411 54539465 21740518 -17411 5299641 9090164 9090164 1183277 607110 382319 193848 8824901 8151912 326599 346390 577469 506182 40968 30319 1268817 1112185 90016 66616 708172 620750 50241 37181 47122 47122 74765 74765 156972 156972 210574 210574 381398 208366 157406 15626 813680 167186 89014 557480 2383827 2150243 51052 182532 606612 516791 22980 66841 1599988 1599988 3064348 2961104 103244 304726 93447 211279 Repairs and maintenance 1661661 1534351 76441 50869 Student meals 1298827 1271042 18215 9570 Other 835320 600882 73375 161063 Dues and subscriptions 170134 112760 29474 27900 35262754 29704475 3655072 1903207 3336800 2680969 2170210 20602249 4874 30086 668684 713807 204199 472630 87571421 32140618 47606069 55430803 32368361 41406366 54998049 64143885 4775071 4455675 146132317 189936470 3221420 2394485 32010379 42773755 1091563 934213 36323362 46102453 X 41044990 45103340 7183613 28840623 61580352 69890054 109808955 143834017 146132317 189936470 X 19276711 14748351 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 43385308 1476550 11693503 7782900 48772461 42118360 515138 7831147 7079337 43385308 52860734 1760549 -6688336 5814587 42118360 0.54670 0.40710 0.04620 1 0 3171789 3171789 55283907 17244907 38039000 6778456 4083102 2695354 13655258 10812609 2842649 8682011 8682011 55430803 Other investments 10383349 F Beneficial interest in perpetual trust 49521532 F Beneficial interest in remainder trust 196559 F Investments held in trust for others 3438872 F Real estate 603573 F 64143885 Due to beneficiaries 630474 Deposits 303739 934213 54539465 35262754 19276711 7135466 7612885 14748351 34025062 60197652 7135466 7612885 14748351 45449301 9090164 9090164 54539465 26172590 0 26172590 9090164 9090164 35262754 Description of Intended Use of Endowment Funds: 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. Description of Uncertain Tax Positions Under FIN 48: Part X: 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, 2011 and 2010 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, 2011, tax years ended June 30, 2008, 2009 and 2010 remain open for a possible examination by the IRS. Part XI, Line 8 - Other Adjustments: Change in value of split interest agreements 7,625,438. Distribution to beneficiaries -12,553. Part XII, Line 2d - Other Adjustments: Change in value of split interest agreements 7,625,438. Distribution to beneficiaries -12,553. Part XII, Line 4b - Other Adjustments: Scholarships and financial assistance 9,090,164. Part XIII, Line 4b - Other Adjustments: Scholarships and financial assistance 9,090,164. 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 publishes and upholds the following policy: "Young Harris College ("the College") is committed to maintaining a fair and respectful environment for living, work, and study. To that end, and in accordance with federal and state law, and College policy, the College prohibits any member of the faculty, staff, administration, student body, or visitors to campus, whether they be guests, patrons, independent contractors, or clients, from harassing and/or discriminating against any other member of the College community because of that person's race, sex (including sexual harassment), sexual orientation, ethnic or national origin, religion, age, disabled status, or status as a disabled veteran or veteran of the Vietnam era. Incidents of harassment and discrimination will be met with appropriate disciplinary action, up to and including dismissal from the College." All members of the College community are expected, responsible, and obligated to uphold this policy. Explanation of Government Financial Assistance 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 65,514. 1 Europe (Including Iceland & Greenland) 0 0 Program Services Choir Concert Tour 25000 Central America and the Caribbean 0 0 Investments 9426234 0 0 0 9451234 0 9451234 Financial Assistance Europe (Including Iceland & Greenland) 13 242092 Credit to bursar accounts Financial Assistance Middle East and North Africa 4 64243 Credit to bursar accounts Financial Assistance Sub-Saharan Africa 2 49700 Credit to bursar accounts Financial Assistance East Asia and the Pacific 5 113089 Credit to bursar accounts Financial Assistance Central America and the Caribbean 28 492938 Credit to bursar accounts Financial Assistance South America 8 168746 Credit to bursar accounts Financial Assistance North America 1 11000 Credit to bursar accounts 0 0 1 1 0 0 Other Information Schedule F, Part V Accounting for expenditures includes ensuring that people are clearly foreign persons for scholarships and financial assistance. X X X X X X 0 Don A Harp Jr 2720 Winding Lane Atlanta GA 30319 Fundraising consulting 0 0 15600 -15600 Myers McRae 515 Mulberry Street Suite 200 Macon GA 31201 Fundraising consulting 0 0 43970 -43970 Alexander Haas 3520 Piedmont Road Suite 300 Atlanta GA 30305 Fundraising consulting 0 0 113002 -113002 172572 -172572 Clay Dotson Open 81309 63359 17950 28729 81309 63359 17950 28729 28729 -10779 1 Scholarships and financial assistance 768 7948356 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 208010 0 0 0 0 0 12300 0 18924 0 239234 0 0 0 Jay T Stroman 162955 0 0 0 0 0 9433 0 9924 0 182312 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. 1627800 The College has several cash accounts and two different lines-of-credit with this local area bank. The bank's Chief Executive Officer, Jimmy C. Tallent, its Chairman, Robert L. Head, Jr., are members of the College's Board of Trustees. The College's President, L. Cathy Cox, is a director of the bank and another member of the College's Board of Trustees, Zell B. Miller, is an emeritus director of the bank. None of these persons were involved in the decision to select this bank as service provider to the College. The terms of these loans are more favorable to the College than quotes received from other institutions. 0 Hardin Construction Company LLC Company's Chairman is a College Trustee. 8192086 During the fiscal year ended June 30, 2008, the College entered into an agreement with a company to oversee the construction of the College's new residence hall which was placed in service August 2009. During the fiscal year ended June 30, 2009, the College entered into an agreement with the same company to oversee the construction of the College's new student recreation center which was placed in service July 2010. During the fiscal year ended June 30, 2010, the College entered into an agreement with the same company to oversee the construction of new housing for upper classmen which was placed in service August 2011. The 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 is also the Chairman of this company was not involved in the selection process. 0 0 X 4290 X 250 X 2 239000 X 1 484 X Golf Clubs 1 500 X Insurance 1 500 X Electronics 5 977 X Gift certificates 15 4495 X Supplies 5 3368 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, its Chairman, Robert L. Head, Jr., are members of the College's Board of Trustees. The College's President, L. Cathy Cox, is a director of the bank and another member of the College's Board of Trustees, Zell B. Miller, is an emeritus director 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 being filed. 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 Governance and 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 documents are available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 7,135,466. Form 990, Part XI, line 5, Other Changes in Net Assets: Change in value of split interest agreements: 7,625,438 Distribution to beneficiaries: -12,553