2012-05-11T14:27:19-04:00 2011-06-30 KPMG LLP 300 North Greene Street Suite 400 Greensboro NC 27401 990 2010-07-01 580566243 SPELMAN COLLEGE SPEL 4046813643 350 SPELMAN LANE SW ATLANTA GA 30314 ROBERT D FLANIGAN JR 2012-05-11 3362753394 2010 2016-02-24 21:20:13Z BEVERLY DANIEL TATUM 350 SPELMAN LANE SW ATLANTA GA 30314 270180840 false X WWW.SPELMAN.EDU X 1881 GA SPELMAN COLLEGE, A HISTORICALLY BLACK COLLEGE AND GLOBAL LEADER IN THE EDUCATION OF WOMEN OF AFRICAN DESCENT, IS DEDICATED TO THE ACADEMIC EXCELLENCE OF ITS STUDENTS. 25 23 1542 185 72836 0 20497101 22938786 59030101 61429950 11286268 17954540 919347 869629 91732817 103192905 13933066 13698019 0 0 42653451 44252069 217844 162591 4707339 43837688 44299595 100642049 102412274 -8909232 780631 486702683 512177411 120129504 115742467 366573179 396434944 X SPELMAN COLLEGE, A HISTORICALLY BLACK COLLEGE AND GLOBAL LEADER IN THE EDUCATION OF WOMEN OF AFRICAN DESCENT, IS DEDICATED TO ACADEMIC EXCELLENCE IN THE LIBERAL ARTS AND SCIENCES, AND THE INTELLECTUAL, CREATIVE, ETHICAL AND LEADERSHIP DEVELOPMENT OF ITS STUDENTS. SPELMAN EMPOWERS THE WHOLE PERSON TO ENGAGE THE MANY CULTURES OF THE WORLD AND INSPIRES A COMMITMENT TO POSITIVE SOCIAL CHANGE. false false 39316061 13698019 INSTRUCTION FOUNDED IN 1881, SPELMAN COLLEGE IS A PRIVATE, NONPROFIT INSTITUTION OF HIGHER EDUCATION BASED IN ATLANTA, GEORGIA. THE COLLEGE IS ACCREDITED BY THE COMMISSION ON COLLEGES OF THE ASSOCIATION OF COLLEGES AND SCHOOLS AND PROVIDES QUALITY LIBERAL ARTS EDUCATION AND TRAINING SERVICES FOR APPROXIMATELY 2,100 UNDERGRADUATE STUDENTS. IN ADDITION, THE COLLEGE MAINTAINS SPECIAL PROGRAMS SUCH AS CONTINUING EDUCATION, SUMMER SCIENCE AND DUAL DEGREES IN ENGINEERING. 14511822 AUXILIARY ENTERPRISES AS A RESIDENTIAL LIBERAL ARTS COLLEGE, SPELMAN COLLEGE PROVIDES ON CAMPUS HOUSING FOR APPROXIMATELY 1,400 STUDENTS. SPELMAN ALSO PROVIDES DINING SERVICES TO ITS RESIDENTIAL STUDENTS, AS WELL AS COMMUTER STUDENTS, FACULTY, STAFF AND OTHERS. SPELMAN OPERATES A 500 SPACE PARKING DECK FOR FACULTY, STAFF, AND STUDENTS. ADDITIONALLY, SPELMAN OFFERS A VARIETY OF SUMMER CONFERENCES FOR HIGH SCHOOL STUDENTS AND OTHER INTERESTED STUDENTS. 3844092 RESEARCH SPELMAN COLLEGE PERFORMS RESEARCH, TRAINING AND OTHER SIMILAR SERVICES UNDER GRANTS WITH GOVERNMENTAL AGENCIES OR SPONSORING ORGANIZATIONS. 213957 PUBLIC SERVICE 7346174 ACADEMIC SUPPORT 10760989 STUDENT SERVICES 18321120 75993095 true true false true false false true false true true true false false true false false true true false true false false true false false false false true true true false false false false false false false false false true true false false false false true false false false false true 3042 0 true 1542 true true true false false false false true true false false false false X 25 23 true false false false false false false true true false false true true true true true true true true false GA NY X ROBERT D FLANIGAN JR 4042705072 350 SPELMAN LANE SW ATLANTA GA 30314 X CLAIRE ARNOLD 2.0 X 0 0 0 THEODORE R ARONSON 2.0 X 0 0 0 AMBASSADOR AURELIA E BRAZEAL 2.0 X 0 0 0 ROSALIND G BREWER 2.0 X 0 0 0 JANINE BROWN 2.0 X 0 0 0 STUART BURGDOERFER 2.0 X 0 0 0 KIMBERLY B DAVIS 2.0 X 0 0 0 JERRI L DEVARD 2.0 X 0 0 0 EVELYNN M HAMMONDS 2.0 X 0 0 0 YVONNE R JACKSON 2.0 X 0 0 0 ROSE HARRIS JOHNSON 2.0 X 0 0 0 TERRY L JONES 2.0 X 0 0 0 SUSAN A MCLAUGHLIN 2.0 X 0 0 0 GWENDOLYN ADAMS NORTON 2.0 X 0 0 0 LAURA J BURTON ODEM 2.0 X 0 0 0 VICKI R PALMER 2.0 X 0 0 0 ANNA ELEANOR ROOSEVELT 2.0 X 0 0 0 LOVETTE T RUSSELL 2.0 X 0 0 0 BRADLEY T SHEARES 2.0 X 0 0 0 ESTHER SILVER-PARKER 2.0 X 0 0 0 CYNTHIA NEAL SPENCE 35.0 X 99365 0 12315 RONDA E STRYKER 2.0 X 0 0 0 BEVERLY DANIEL TATUM 35.0 X X 347579 0 72061 KATHY WALLER 2.0 X 0 0 0 CELESTE WATKINS-HAYES 2.0 X 0 0 0 CHRISTINA A WHATLEY 2.0 X 0 0 0 ROBERT D FLANIGAN JR 35.0 X 283785 0 26231 JOHNNELLA BUTLER 35.0 X 214755 0 21443 ARLENE CASH 35.0 X 155863 0 17817 ELOISE ALEXIS 35.0 X 149723 0 16974 KASSANDRA JOLLEY 35.0 X 177630 0 18907 DELORES BARTON 35.0 X 137876 0 13203 DARNITA KILLIAN 35.0 X 137470 0 13498 GLORIA WADE-GAYLES 35.0 X 133987 0 15104 ANDREW WILLIAMS 35.0 X 132760 0 10268 MYRA BURNETT 35.0 X 133875 0 15485 DONNA HARPER 35.0 X 127652 0 14757 RHONDA HONEGAN 35.0 X 134360 0 15392 SHERRY TURNER 35.0 X 129285 0 6359 2495965 0 289814 23 true true false CHESAPEAKE ASSET MANAGEMENT LLC ONE ROCKEFELLER PLAZA SUITE 2321 NEW YORK NY 10020 INVESTMENT MANAGERS 902120 SIEMENS INDUSTRY INC 1745 CORPORATE DRIVE STE 240 NORCROSS GA 30093 CONSULTING 312904 SUTHERLAND ASBIL BRENNAN LLP 999 PEACHTREE STREET NE ATLANTA GA 303093915 ATTORNEYS 182936 MAYO INVESTMENT ADVISORS LLC 40 ROWES WHARF FLOOR 2 BOSTON MA 02110 INVESTMENT MANAGERS 175209 KPMG LLP DEPT 0613 DALLAS TX 753120001 ACCOUNTANTS 164355 11 7603428 15335358 448388 22938786 TUITION AND FEES 900099 44258104 44258104 0 0 AUXILARY ENTERPRISES 900099 17171846 17171846 0 0 61429950 3623719 0 72836 3550883 0 0 181318756 166987935 14330821 14330821 0 0 14330821 0 0 0 OTHER MISCELLANEOUS 900099 869629 869629 0 0 869629 103192905 62299579 72836 17881704 0 0 13698019 13698019 0 0 1895514 777218 777778 340518 0 0 0 0 33339702 25799193 5283895 2256614 1448548 1088004 255234 105310 4964768 3728669 874740 361359 2603537 1955517 458743 189277 0 402782 0 402782 0 236404 0 236404 0 48153 0 0 48153 162591 162591 1476509 0 1476509 0 1801711 764627 868072 169012 14778 0 14778 0 3011265 2372963 414840 223462 0 0 3553133 3091978 461155 0 1670503 1225701 227088 217714 0 0 4607936 2786009 1821927 0 0 9996627 5699615 4297012 0 1305382 1163200 142182 0 CLEANING EXPENSES 1254274 1070603 183671 0 AUC LIBRARY 2451860 2451860 0 0 EQUIPMENT AND RENTAL 2740206 1724339 990990 24877 SPECIAL PROJECTS 2933592 1809562 550971 573059 PURCHASED SERVICES 3669085 2957403 711682 0 3125395 1828615 1261387 35393 102412274 75993095 21711840 4707339 9617138 14720311 14181408 11166385 1689318 1683000 236694567 82484230 162560275 154210337 31943928 37996093 263276267 288932817 1739217 1594065 1695132 1874403 486702683 512177411 10714160 10271600 842850 778258 95691180 92650677 10562500 9937500 2318814 2104432 120129504 115742467 X 101710730 104293428 152541565 178533217 112320884 113608299 366573179 396434944 486702683 512177411 X 780631 29081134 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 48153 48153 false OTHER ACTIVITIES SCHEDULE C, PART II-B, QUESTION 1I SPELMAN COLLEGE RETAINS A CONSULTANT, POLSINELLI SHUGHART PC, TO PROMOTE LEGISLATION WHICH WOULD PROVIDE SPELMAN COLLEGE WITH FEDERAL FUNDS FOR USE ON VARIOUS COLLEGE PROJECTS AND PROGRAMS. POLSINELLI SHUGHART PC WAS PAID $48,153 FOR THEIR SERVICES. X X X X X Curriculum enhancement & develop. true 304160522 1281477 47000450 0 20156699 332285750 295407693 1107649 25193306 0 17548126 304160522 367673282 2008039 -55959952 4524068 13789608 295407693 0.16700 0.34190 0.49110 false true true 14687723 14687723 174770737 51549787 123220950 23403018 19292051 4110967 23833089 11642392 12190697 154210337 SHORT-TERM INVESTMENTS 9491065 F FIXED INCOME 31548097 F NON U.S. EQUITY 24118090 F MARKETABLE ALTERNATIVES 63632132 F REAL ASSETS 49218048 F PRIVATE EQUITY 110925385 F 288932817 0 OBLIGATIONS UNDER CAPITAL LEASES 524887 ADVANCES FROM FEDERAL GOVERNMENT 1579545 2104432 103192905 102412274 780631 29082106 -972 29081134 29861765 118576020 29082106 -13698991 15383115 103192905 103192905 88714255 88714255 13698019 13698019 102412274 SFAS 116 SCHEDULE D, PART III, LINE 1A THE ORGANIZATION ELECTED, AS PERMITTED UNDER SFAS 116, NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. THERE IS NO FINANCIAL STATEMENT FOOTNOTE DISCLOSURE THAT DESCRIBES THESE ITEMS. INTENDED USES OF ORGANIZATION'S ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, QUESTION 4 INVESTMENT IN A MIX OF SECURITIES TO PROVIDE SUFFICIENT INCOME TO SUPPORT THE COLLEGE'S OPERATIONS IN ACCORDANCE WITH DONOR WISHES, WHILE PRESERVING EQUITY. ART COLLECTION SCHEDULE D, PART III, LINE 4 THE COLLEGE'S PERMANENT COLLECTION OF ART -- INCLUDING HISTORICALLY SIGNIFICANT PAINTINGS, SCULPTURE, AND WORKS ON PAPER -- IS AN ACADEMIC RESOURCE THAT OFFERS STUDENTS, FACULTY, AND STAFF FIRST-HAND ENGAGEMENT WITH IMPORTANT ORIGINAL WORKS OF ART. OBJECT LESSONS, WORKSHOPS, CONSERVATION PROJECTS, EXHIBITIONS, AND THEMATIC PROGRAMS DEMONSTRATE THE VARIOUS WAYS THAT THE PERMANENT HOLDINGS ARE USED TO EXPAND, COMPLEMENT, AND ENHANCE THE ACADEMIC CURRICULUM. OTHER ADJUSTMENTS SCHEDULE D, PART XI, LINE 8 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (972) SCHEDULE D, PART XII, LINE 2D OTHER CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 972 STUDENT AID RECLASS 13,698,019 ------------ TOTAL 13,698,991 ============ SCHEDULE D, PART XIII, LINE 4B OTHER STUDENT AID RECLASS 13,698,019 ------------ TOTAL 13,698,019 ============ true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 A STATEMENT OF THE COLLEGE'S RACIALLY NON-DISCRIMINATORY POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS IN ACCORDANCE WITH THE PROVISIONS OF REV. PROC. 75-50. FINANCIAL AID ASSISTANCE FROM GOVERNMENTAL AGENCY SCHEDULE E, LINE 6A THE FINANCIAL AID ASSISTANCE IS RECEIVED FROM THE FEDERAL GOVERMENT, STATE OF GEORGIA, AND OTHER STATES. OTHER ASSISTANCE IS RECEIVED FROM FEDERAL GOVERNMENT, STATE OF GEORGIA, AND CITY OF ATLANTA. Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 63155 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 52247 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 26380 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 16054 South America 0 0 Program Services STUDY ABROAD 34085 Middle East and North Africa 0 0 Program Services STUDY ABROAD 25361 Europe (Including Iceland and Greenland) 0 0 Program Services EQUIPMENT 48970 0 0 0 0 266252 266252 true false true true false false X X X X X X X true COXE CURRY ASSOCIATES FUNDRAISING CAMPAIGN false 114659 WASHBURN MCGOLDRICK INC CAMPAIGN CONSULTANTS false 39481 GRENZEBACK GLIER ASSOCIATE FUNDRAISING CONSULTING false 8451 162591 true STUDENT FINANCIAL AID 1739 13698019 0 N/A N/A Student Financial Aid Schedule I, Part I, LINE 2 AND PART III Student Financial Aid Awards are awarded to students by the College's Office of Student Financial Services. Awards are based on a number of factors including, but not limited to, scholarly achievement, demonstrated financial need, and academic interests. Funds are provided by sources such as Federal and state governments; private donors such as corporations, individuals and foundations; the College's endowed financial aid funds; and the College's operating budget. Financial aid awards are made up to a limit of the student's financial need. Individual awards are monitored extensively in order to ensure that students are making satisfactory academic progress and that they do not receive more than their demonstrated need. Adjustments are made when appropriate. X X X true true X X X X X X false false false false false false false true false BEVERLY DANIEL TATUM 331079 0 0 0 16500 0 33978 0 38083 0 419640 0 0 0 ROBERT D FLANIGAN JR 283785 0 0 0 0 0 17356 0 8875 0 310016 0 0 0 JOHNNELLA BUTLER 214755 0 0 0 0 0 13173 0 8270 0 236198 0 0 0 ARLENE CASH 155863 0 0 0 0 0 9791 0 8026 0 173680 0 0 0 ELOISE ALEXIS 149723 0 0 0 0 0 9172 0 7802 0 166697 0 0 0 KASSANDRA JOLLEY 177630 0 0 0 0 0 10962 0 7945 0 196537 0 0 0 SHERRY TURNER 129285 0 0 0 0 0 3400 0 2959 0 135644 0 0 0 DELORES BARTON 137876 0 0 0 0 0 5685 0 7518 0 151079 0 0 0 DARNITA KILLIAN 137470 0 0 0 0 0 7344 0 6154 0 150968 0 0 0 COMPENSATION QUESTION FORM 990, SCHEDULE J, QUESTION 1A SOCIAL CLUB DUES WERE PAID FOR TATUM AND BUTLER. THE VALUE OF THESE DUES WAS NOT TREATED AS TAXABLE COMPENSATION. $2,816 WAS PROVIDED IN SPOUSAL TRAVEL BENEFITS FOR TATUM. THE VALUE OF THE TRAVEL WAS NOT TREATED AS TAXABLE COMPENSATION. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A HOUSING VALUED AT $29,035 WAS PROVIDED TO TATUM. THE VALUE OF THE HOUSING WAS NOT TREATED AS TAXABLE COMPENSATION. President's OTHER REPORTABLE COMPENSATION Schedule J, Part II, Column B (iii) AND SCHEDULE J, PART I, LINE 7 Beverly Daniel Tatum's OTHER REPORTABLE COMPENSATION is composed of $16,500, which is deferred compensation payable in accordance with her employment contract. PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY 581407790 74265LQB7 2003-01-30 30800674 SEE SCHEDULE O false false false DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900TAS 2007-03-21 67041214 SEE SCHEDULE O false false false DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 2009-09-01 1500000 SEE SCHEDULE O false false false DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 2009-09-01 6100000 SEE SCHEDULE O false false false 6310000 0 31540044 1174857 491087 23660980 6213120 2007 false true true true 4630000 0 68883486 3777739 754073 54773104 9578570 2009 true false false true 400000 0 1500000 1999 true false true true 400000 0 6100000 2004 true false true true false false true false false 0.00000 0.00000 0.00000 true false true true false false 0.02900 0.00000 0.02900 true false false true false false 0.00000 0.00000 0.00000 true false false false false false 0.00000 0.00000 0.00000 true true false false false true false true false false true HYPO PUBLIC FINANCE true false true true true false false false true true true false false false true SEE SCHEDULE O CHESAPEAKE ASSET MANAGEMENT FORMER TRUSTEE IS OWNER 956276 ENDOWMENT ADVISOR false X 13 419123 FMV X SEE PART II 5 29265 FMV false true false OTHER NON-CASH CONTRIBUTIONS SCHEDULE M, PART I, QUESTIONS 25-27 DONATIONS OF VARIOUS ITEMS: BEVERAGES, ORGAN, AND MISCELLANEOUS. FAIR MARKET VALUED AT $29,265. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, QUESTION 11 FORM 990 IS DISTRIBUTED TO THE FINANCE AND BUDGET COMMITTEE PRIOR TO THE COMMITTEE MEETING FOR THEIR REVIEW. INDEPENDENT TAX ACCOUNTANTS WILL REVIEW WITH COMMITTEE. THE CHAIRMAN OF THE COMMITTEE WILL DISCUSS AND REVIEW WITH THE FULL BOARD, WHO WILL RECEIVE A COPY OF THE FINALIZED RETURN PRIOR TO FILING. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, QUESTON 12C EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE UPON THEIR INITIAL HIRING. THE COLLEGE HAS A WRITTEN CONFLICT OF INTEREST POLICY IN ITS EMPLOYEE HANDBOOK. IF HUMAN RESOURCES BECOMES AWARE OF A CONFLICT, THE EMPLOYEE IS NOTIFIED AND REQUIRED TO SUBMIT A CONFLICT OF INTEREST STATEMENT, WHICH IS FILED IN THE EMPLOYEE'S PERSONNEL FILE. ALL TRUSTEES, BOARD REPRESENTATIVES AND SENIOR TEAM MEMBERS MUST COMPLETE AND SIGN A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. COMPLIANCE IS MONITORED AND A SUMMARY IS PROVIDED TO THE SECRETARY OF THE BOARD. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, SECTION B, QUESTIONS 15A AND 15B THE COMPENSATION OF THE COLLEGE'S PRESIDENT IS DETERMINED AS FOLLOWS: COMPARABILITY STUDIES ARE PERFORMED BY AN INDEPENDENT THIRD PARTY COMPENSATION CONSULTANT. IT IS THE COLLEGE'S GOAL THAT THE PRESIDENT'S COMPENSATION BE IN THE 50TH-75TH PERCENTILE OF THE COLLEGES AND UNIVERSITIES USED IN THE COMPARABILITY SURVEY. THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE RECOMMENDATIONS MADE BY THE COMPENSATION CONSULTANT AND MAKES A RECOMMENDATION TO THE FULL BOARD OF TRUSTEES. THE FULL BOARD OF TRUSTEES VOTES ON THE PRESIDENT'S COMPENSATION PACKAGE. WITH RESPECT TO OTHER OFFICERS AND KEY EMPLOYEES, THE COMPENSATION OF THESE INDIVIDUALS IS DETERMINED BY THE PRESIDENT. THE PRESIDENT RECOMMENDS THE COMPENSATION FOR THESE INDIVIDUALS. THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE COMPENSATION. FOR THESE INDIVIDUALS, COMPENSATION STUDIES ARE PERFORMED BY AN INDEPENDENT THIRD PARTY FIRM OR THE COLLEGE'S HUMAN RESOURCES DEPARTMENT. MAKING DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART VI, SECTION C, QUESTION 19 SPELMAN COLLEGE DOES NOT MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. HOWEVER, DOCUMENTS ARE AVAILABLE UPON REQUEST. FAMILY AND BUSINESS RELATIONSHIPS FORM 990, PART VI, SECTION A, QUESTION 2 STUART BURGDOERFER AND BRADLEY SHEARES, BOTH BOARD MEMBERS, SERVE ON THE BOARD OF DIRECTORS OF PROGRESSIVE CORPORATION. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED GAINS 29,082,106 CHANGE IN VALUE OF SPLIT INTEREST TRUSTS (97) ---------- TOTAL 29,081,134 ========== DESCRIPTION OF PURPOSE SCHEDULE K, PART I, COLUMN F A- 1. CONSTRUCTION, RENOVATIONS AND EQUIPPING OF COLLEGE FACILITIES; 2003 PROCEEDS USED: $23,660,980. 2. ADVANCE REFUNDING OF A PORTION OF PRIVATE COLLEGE AND UNIVERSITIES REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1994, ISSUANCE DATE: JULY 21, 1994; 2003 PROCEEDS USED: $6,213,020. B- 1. CONSTRUCTION OF IMPROVEMENTS TO COLLEGE FACILITIES, INCLUDING A NEW DORMITORY AND CAMPUS INFRASTRUCTURE; 2007 PROCEEDS USED: $54,773,104. 2. CURRENT REFUNDING OF A PORTION OF PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1994, ISSUANCE DATE: JULY 21, 1994; PROCEEDS USED: $5,085,377. 3. CURRENT REFUNDING OF PROMISSORY NOTE, ISSUED NOVEMBER 17, 2004; 2007 PROCEEDS USED: $4,493,194. C- REISSUANCE OF DEVELOPMENT AUTHORITY OF FULTON COUNTY ADJUSTABLE ROLE DEMAND REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1996 (TREATED AS CURRENT REFUNDING); ISSUE DATE: DECEMBER 1, 1996. D- REISSUANCE OF DEVELOPMENT AUTHORITY OF FULTON COUNTY ADJUSTABLE ROLE DEMAND REVENUE BONDS (SPELMAN COLLEGE PROJECT), SERIES 1999 (TREATED AS CURRENT REFUNDING); ISSUE DATE: NOVEMBER 19, 1999. TOTAL PROCEEDS OF ISSUE SCHEDULE K, PART II, LINE 3 C - THIS WAS A REISSUANCE OF THE SERIES 1996 BONDS AND NO CASH PROCEEDS WERE GENERATED. THE REISSUANCE WAS TREATED AS A CURRENT REFUNDING. D - THIS WAS A REISSUANCE OF THE SERIES 1999 BONDS AND NO CASH PROCEEDS WERE GENERATED. THE REISSUANCE WAS TREATED AS A CURRENT REFUNDING. SCHEDULE K, PART II, LINE 9 A - TOTAL CAPITAL EXPENDITURES OF $24,835,937 INCLUDES CAPITALIZED INTEREST OF $1,174,957. B - TOTAL CAPITAL EXPENDITURES OF $58,550,843 INCLUDES CAPITALIZED INTEREST OF #3,777,739. SCHEDULE K, PART III, LINE 3C A, B, C AND D: BOND COUNSEL REVIEWS THIRD-PARTY CONTRACTS IN CONNECTION WITH THE ISSUANCE OF THE COLLEGE'S BONDS (WHICH HAVE OCCURRED IN 1988, 1994, 1996, 1999, 2003 AND 2007). EXPLANATION OF VARIANCE SCHEDULE K, PART II, LINE 3 The Part I, Column (e) issue price does not agree with the Part II, line 3 Total proceeds of issue for certain bonds due to the inclusion of interest and other investment earnings on the proceeds accounts. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:VICKI R. PALMER TITLE:TRUSTEE HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:BRADLEY T. SHEARES TITLE:TRUSTEE HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:BEVERLY DANIEL TATUM TITLE:COLLEGE PRESIDENT HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:ROBERT D FLANIGAN JR TITLE:VP BUSINESS &FINANCE/TREASURER HOURS:15 COLLEGIATE PROPERTY DEVELOPMENT COMPANY 350 SPELMAN LANE SW ATLANTA GA 30314 311636865 ACQUIRE PROP GA 501(C)(2) N/A NA SPELMAN COLLEGE SPECIAL VENTURES FUND 350 SPELMAN LANE SW ATLANTA GA 30314 851561434 INVESTMENTS GA 501(C)(3) 11 NA false true true false false false false false false false false false false false false false false false SPELMAN COLLEGE SPECIAL VENTURES FUND INC B 7170231 SPELMAN COLLEGE SPECIAL VENTURES FUND INC C 23510443