2012-11-15T14:28:32-06:00 2012-05-31 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2011-06-01 566049935 WINGATE UNIVERSITY WING 7042338000 PO BOX 159 WINGATE NC 28174 WILLIAM H DURHAM 7042338000 2012-11-19 1 ADRIENNE MCKINNEY P00819656 3362724551 2011 2016-02-24 21:20:13Z DR JERRY E MCGEE PO BOX 3105 WINGATE NC 28174 206441220 0 X WWW.WINGATE.EDU X 1896 NC A COMPREHENSIVE EDUCATIONAL INSTITUTION OFFERING BACCALAUREATE, MASTERS, AND DOCTORAL DEGREES. 46 46 1268 0 0 0 8060981 27116769 55230501 61403750 2520943 2302740 1713457 1855480 67525882 92678739 19411825 22418427 0 0 24475799 26184806 0 0 869806 17423358 19881330 61310982 68484563 6214900 24194176 113942349 131108432 33458587 29281798 80483762 101826634 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 55304639 22418427 63201451 WINGATE UNIVERSITY SERVES STUDENTS ON THREE CAMPUSES IN WINGATE, MATTHEWS, AND HENDERSONVILLE, NC. 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, 2012, FALL STUDENT ENROLLMENT WAS 2,531 AND SPRING STUDENT ENROLLMENT WAS 2,350. THE TOTAL NUMBER OF GRADUATES WAS 443. FINANCIAL AID WAS RECEIVED BY 2,349 STUDENTS. SCHOLARSHIPS WERE GRANTED TO 1,878 STUDENTS. 55304639 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 151 0 1 1268 1 0 0 0 0 0 0 1 1 0 0 1 0 X 46 46 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 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 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 JIMMY K STEGALL 0.50 X 0 0 0 DONALD C TAFT 0.50 X 0 0 0 EVELYN V TAYLOR 0.50 X 0 0 0 JOHNNY TILLETT 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 ARNOLD J CULBERTH JR 0.10 X 0 0 0 WILLIAM H HELMS 0.50 X 0 0 0 PATRICK PHILMON 0.50 X 0 0 0 JAMES C WILSON JR 0.10 X 0 0 0 DR JERRY E MCGEE 40.00 X 475357 0 30425 CHARLES E TAYLOR JR 40.00 X 131327 0 20518 DR MARTHA S ASTI 40.00 X 114635 0 20067 T RHETT BROWN 40.00 X 114144 0 19725 VINCENT TILSON 40.00 X 118578 0 12413 ROBERT STEPHEN POSTON 40.00 X 104747 0 11311 ROBERT B SUPERNAW 40.00 X 221801 0 28558 WILLIAM H DURHAM 40.00 X 50138 0 3741 CAROLYN FORD 40.00 X 129235 0 14252 GREGORY ALSTON 40.00 X 117324 0 10845 SAMIR A KOUZI 40.00 X 117324 0 20878 MICHAEL L MANOLAKIS 40.00 X 108498 0 17719 TRACY S HUNTER 40.00 X 110884 0 20849 1913992 0 231301 27 0 1 0 CM BLACK CONSTRUCTION CO 797 DAVIDSON DRIVE NE CONCORD NC 28025 CONSTRUCTION 4023575 ARAMARK SERVICES INC PO BOX 198532 ATLANTA GA 30384 FOOD SERVICE 3206442 LGA INC 4201 CONGRESS STREET SUITE 400 CHARLOTTE NC 28209 PUBLIC RELATIONS 295841 BB&T INSURANCE SERVICES PO BOX 890635 CHARLOTTE NC 28289 INSURANCE SERVICES 270691 ROYALL & CO 1920 EAST PARHAM ROAD RICHMOND VA 232282206 STUDENT SEARCH 260943 14 144637 1704234 25267898 21234411 27116769 TUITION AND FEES 611310 47908670 47908670 HOUSING 611310 11937421 11937421 BOOKSTORE REVENUE 611310 1081667 1081667 CAMPS & CONFERENCES 611310 391719 391719 FOOD SERVICE REVENUE 611310 84273 84273 61403750 1376149 1376149 72191 0 72191 72191 72191 114642969 20026 113538363 198041 1104606 -178015 926591 926591 11665 144637 26077 -14412 -14412 ATHLETIC INCOME 611310 84418 84418 VEHICLE INCOME 611310 21883 21883 1691400 1691400 1797701 92678739 63201451 0 2360519 22418427 22418427 1275416 555685 605434 114297 19619888 16363695 2820852 435341 974202 779362 155872 38968 2878372 2302698 460540 115134 1436928 1149542 229908 57478 94641 94641 84700 84700 160525 160525 345897 345897 1889867 1039427 850440 1081253 1007113 31802 42338 544602 544602 3687052 3687052 191219 191219 OTHER 5420382 4285669 1068463 66250 FOOD SERVICE 2634729 2634729 PHARMACY 1649412 1649412 DEBT SERVICE 978171 978171 1118880 1118880 68484563 55304639 12310118 869806 185613 1209011 6971982 10892314 6999617 6441229 1086039 774128 477549 566775 280792 224663 109993219 41041761 68823183 68951458 26943461 39868016 1480654 1480521 693459 700317 113942349 131108432 4360099 3810792 13170000 11770000 2150779 13000000 9830000 2928488 1720227 33458587 29281798 X 50412254 72232681 9919427 8999692 20152081 20594261 80483762 101826634 113942349 131108432 X 24194176 -2851304 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 28471495 11311161 -660306 733930 80948 38307472 24710442 394151 3977544 524020 86622 28471495 22403555 397046 2733416 823575 24710442 30823082 598431 -7157882 1860076 22403555 0.37210 0.07790 0.55000 0 0 14413 4034629 4049042 85762619 27838577 57924042 219265 163244 56021 17021043 12368217 4652826 2941250 671723 2269527 68951458 CAPITAL LEASE OBLIGATIONS 741936 INTEREST RATE SWAP AGREEMENT 978291 1720227 92678739 68484563 24194176 -2514142 -363295 -2877437 21316739 67248427 -2514142 -22781722 -25295864 92544291 160525 -26077 134448 92678739 45931688 26077 26077 45905611 160525 22418427 22578952 68484563 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 LOSS ON INTEREST RATE SWAP AGREEMENTS IMPAIRMENT ON REAL ESTATE HELD FOR SALE PART XII, LINE 2D - OTHER ADJUSTMENTS: WINGATE UNIVERSITY FOUNDATION REVENUES INCLUDED IN CONSOLIDATION -26,133. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 138,899. RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS -22,418,427. LOSS ON INTEREST RATE SWAP AGREEMENTS -228,061. IMPAIRMENT ON REAL ESTATE HELD FOR SALE -248,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES -26,077. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF FUNDRAISING EVENT EXPENSES 26,077. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF INSTITUTIONAL AND STATE CONTRACTUAL GRANTS 22,418,427. 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. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 130 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 203333 CENTRAL AMERICA AND THE CARIBBEAN 4 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 22892 SOUTH AMERICA 2 STUDY ABROAD PROGRAM STUDY ABROAD PROGRAM 7690 0 136 0 0 0 136 233915 0 233915 CASH GRANT EUROPE (INCLUDING ICELAND & GREENLAND) 19 13750 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION CASH GRANT CENTRAL AMERICA AND THE CARIBBEAN 4 7875 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION CASH GRANT SOUTH AMERICA 2 10000 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION CASH GRANT EAST ASIA AND THE PACIFIC 1 2250 TRAVEL COMMITTEE APPROVAL N/A NEED AND ACADEMIC BASED QUALIFICATION 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: ELIGIBILITY FOR STUDY ABROAD SCHOLARSHIPS AND GRANTS IS DETERMINED EACH SEMESTER BASED UPON THE RESULTS OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AND ACADEMIC STANDING. THE FINANCIAL PLANNING DEPARTMENT AND TRAVEL COMMITTEE VERIFY SATISFACTORY ACADEMIC PROGRESS AND DETERMINE NEED BEFORE SCHOLARSHIPS AND GRANTS ARE DISTRIBUTED. METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: COST OF PROGRAM EXPLANATION FOR ESTIMATED NUMBER OF RECIPIENTS: SCHEDULE F, PART III, COL (C): THE NUMBER OF RECIPIENTS IS BASED ON ACTUAL DOCUMENTATION, NOT ESTIMATES. DAY FOR WINGATE 107315 107315 7404 GOLF TOURNAMENT 48987 37322 11665 4912 6300 7461 156302 144637 11665 4912 6300 14865 26077 -14412 1 ENDOWED SCHOLARSHIPS 278 733930 RESTRICTED ANNUAL SCHOLARSHIPS 319 493251 STATE GRANTS 747 1505577 ATHLETIC SCHOLARSHIPS 348 2573994 CHURCH RELATED SCHOLARSHIPS 35 30450 ACADEMIC SCHOLARSHIPS 1566 15906455 NEED BASED SCHOLARSHIPS 422 1174770 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 THE 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 X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DR JERRY E MCGEE 325000 0 100000 0 50357 0 26000 0 4425 0 505782 0 0 0 CHARLES E TAYLOR JR 131327 0 0 0 0 0 9162 0 11356 0 151845 0 0 0 ROBERT B SUPERNAW 211851 0 9950 0 0 0 16948 0 11610 0 250359 0 0 0 PART I, LINE 1A DR. JERRY E. MCGEE, PRESIDENT, HAS A HOUSING ALLOWANCE OF $43,800 INCLUDED IN HIS REPORTABLE COMPENSATION. X 1 900 DONOR STATED X 85941 DONOR STATED X 2 39000 KELLY BLUE BOOK X 17 61420 SELLING PRICE X 1 20910000 SELLING PRICE X 1 25000 APPRAISAL VALUE X 4 3943 COST X 89 79194 COST X PHOTOGRAPHY 37 6728 INVOICE COST X SILENT AUCTION ITEMS 30 4877 DONOR PROVIDED X MISCELLANEOUS 11 17408 DONOR PROVIDED 1 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS REPORTED IN COLUMN B. 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 PARTICIPATING 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 COMPENSATOIN 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 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, 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 LOSSES ON INVESTMENTS: -2,514,142. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 138,899. LOSS ON INTEREST RATE SWAP AGREEMENTS -228,061. IMPAIRMENT ON REAL ESTATE HELD FOR SALE -248,000. TOTAL TO FORM 990, PART XI, LINE 5: -2,851,304. FORM 990, PART XI, LINE 2C, AUDIT COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF AUDIT EVALUATION HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. 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