2011-04-11T17:43:47-05:00 2010-06-30 SCHNEIDER DOWNS & CO INC 1133 PENN AVENUE PITTSBURGH PA 15222 990 2009-07-01 550356985 BETHANY COLLEGE BETH 3048297217 PO BOX 417 BETHANY WV 26032 WILLIAM R KIEFER 3048297217 2011-04-11 1 Susan M Kirsch 4122613644 2009 2016-02-24 21:20:13Z SCOTT D MILLER PHD PO BOX 417 BETHANY WV 26032 89129900 0 X http://www.bethanywv.edu X 1840 WV TEACHING AND LEARNING FORM THE MISSION OF BETHANY COLLEGE. 27 26 907 26 442084 -18206 5939060 5608640 22284846 25029779 236545 -4835711 91590 26681 28552041 25829389 7337502 8466671 0 10420306 11171181 0 1036116 11881616 11669668 29639424 31307520 -1087383 -5478131 89816408 92498445 36211529 36866608 53604879 55631837 TEACHING AND LEARNING FORM THE MISSION OF BETHANY COLLEGE. CENTRAL TO THIS BROAD PURPOSE IS PROVIDING A LIBERAL ARTS EDUCATION FOR STUDENTS, INCLUDING THE PREPARATION OF PROFESSIONALS, IN AN ATMOSPHERE OF STUDY, WORK, AND SERVICE. 0 0 13748849 8466671 14931910 INSTRUCTION-THE COLLEGE PROVIDES EDUCATIONAL SERVICES AND INSTRUCTION TO FULL AND PART TIME STUDENTS SEEKING A COLLEGE EDUCATION AND/OR DEGREE.SCHOLARSHIPS AND FELLOWSHIPS-THE COLLEGE PROVIDES FINANCIAL ASSISTANCE TO STUDENTS EITHER BASED ON NEED OR ACADEMIC MERIT. 9297812 9655785 ACADEMIC SUPPORT AND OTHER STUDENT SERVICES RELATED PROGRAMS-SUPPORT ACTIVITIES THROUGH THE DEANS OF VARIOUS DIVISIONS, THE LIBRARY, AND AUDIO VISUAL SERVICES. 23046661 1 1 0 0 0 0 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1254 0 907 0 1 1 0 0 0 0 0 0 0 0 27 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X DANIEL T PAJAK 3048297217 PO BOX 417 BETHANY WV 26032 REV WILLIAM B ALLEN 1.00 X 0 0 0 ELIZABETH S ATHOL 1.00 X 0 0 0 GEORGE M BADO 1.00 X 0 0 0 MARC B CHERNENKO 1.00 X 0 0 0 RICHARD G CLANCY 1.00 X 0 0 0 REV W DARWIN COLLINS 1.00 X 0 0 0 JAMES F COMPANION 1.00 X 0 0 0 DR NEIL CHRISTMAN 1.00 X 0 0 0 SCARLETT L FOSTER 1.00 X 0 0 0 REV FRED M HARRIS 1.00 X 0 0 0 SY HOLZER 1.00 X 0 0 0 ASA JOHNSON 1.00 X 0 0 0 DR ARTHUR B KEYS JR 1.00 X 0 0 0 DR LINDA D LEWIS MD 1.00 X 0 0 0 DR EUGENE MILLER 1.00 X 0 0 0 JOHN W MULLEN 1.00 X 0 0 0 GARY M NOVAK 1.00 X 0 0 0 G OGDEN NUTTING 1.00 X 0 0 0 ROBERT M NUTTING 1.00 X 0 0 0 EDWARD J SEE 1.00 X 0 0 0 THOMAS A SMOCK 1.00 X 0 0 0 LEWIS P WHEELER 1.00 X 0 0 0 THOMAS JOHNSON 1.00 X 0 0 0 GREGORY B JORDAN 1.00 X X 0 0 0 ROBERT J MCCANN 1.00 X X 0 0 0 REV JANET A LONG 1.00 X X 0 0 0 GEORGE M DAVIS 1.00 X X 0 0 0 DR SCOTT D MILLER 40.00 X X 251242 0 144694 WILLIAM R KIEFER 40.00 X 119673 0 18400 370915 0 163094 2 0 1 0 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 2297250 INDEPENDENT COLLEGE ENTERPRISE 2300 MACCORKLE AVE SE CHARLESTON WV 25304 PAYROLL, ACCOUNTING 264289 STRATUSWAVE SUITE 900 MULL CENTER WHEELING WV 26003 INTERNET TECH, MAINTENANCE 259972 HE NEUMANN PO BOX 6208 WHEELING WV 26003 REPAIR/MAINTENANCE 187952 DEWSKI CONSTRUCTION RD 1 BOX 74B BETHANY WV 26032 CONSTRUCTION PROJECTS 130713 20 547838 5060802 147920 5608640 TUITION AND FEES 900099 17312640 17312640 AUXILIARY ENTERPRISES 900099 7717139 7275055 442084 25029779 253144 253144 64698 38017 26681 26681 26681 57879054 294585 63262494 -5383440 294585 -5088855 -5088855 25829389 24587695 442084 -4809030 8466671 8466671 579400 105000 377500 96900 7529114 5080221 2152583 296310 358760 234113 104366 20281 1997451 941390 975428 80633 706456 435636 238389 32431 6476 6476 73529 73529 63368 20617 42751 83678 3045 80633 1330455 489202 797310 43943 755142 755142 3300518 2121047 882554 296917 363472 296109 59425 7938 781366 781366 2053531 1440839 553648 59044 60316 60316 FOOD COSTS 1936484 1834948 101536 SPECIAL ACTIVITES 520224 477873 42351 LIBRARY RELATED EXPENSE 121276 121276 EQUINE EXPENDITURES 92060 92060 DUES 79468 25896 32486 21086 48305 48305 31307520 23046661 7224743 1036116 715362 2793598 3323575 4546816 2455055 3585724 497450 543167 4264907 4276418 81483 59052 426610 311685 75662000 34823843 42322036 40838157 32352280 32198930 1700650 1667898 1677000 1677000 89816408 92498445 2986186 3345730 4391468 4436594 20300000 20300000 5942456 5765019 2591419 3019265 36211529 36866608 X 13155731 13382446 6353984 6691634 34095164 35557757 53604879 55631837 89816408 92498445 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 40225044 1507820 2767328 2446959 753073 41300160 46807049 1208046 -6270015 1668240 -148204 40225044 0.01500 0.86100 0.12400 1 0 464452 464452 60441740 26126408 34315332 6313013 4535414 1777599 8442795 4162021 4280774 40838157 INTEREST RATE SWAP LIABILITY 1070424 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 1604114 STUDENT AND OTHER DEPOSITS 344727 3019265 25829389 31307520 -5478131 7981492 -476403 7505089 2026958 24905824 7981492 -8943074 -961582 25867406 -38017 -38017 25829389 22878866 38017 38017 22840849 8466671 8466671 31307520 Part III, Line 1a: COLLECTIONS - THE COLLEGE'S COLLECTIONS INCLUDE PAINTINGS, PRINTS, PHOTOGRAPHS, SCULPTURES, DRAWINGS AND WATERCOLORS, AND DECORATIVE ARTS. THESE ITEMS ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENDITURES IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. Part III, Line 4: THE EXEMPT PURPOSE OF COLLECTIONS IS THE ADVANCEMENT OF EDUCATION. Part V, Line 4: Description of Intended Use of Endowment Funds: THE COLLEGE'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED PRIMARILY FOR SUPPORT OF THE COLLEGE'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE COLLEGE TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. Part X: Description of Uncertain Tax Positions Under FIN 48: THE COLLEGE FOLLOWS THE PROVISIONS OF CODIFICATION TOPIC ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN FINANCIAL STATEMENTS. THE COLLEGE'S STATEMENTS OF FINANCIAL POSITION AT JUNE 30, 2010 AND 2009 DO NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE COLLEGE BELIEVES HAS NO UNRECOGNIZED TAX BENEFITS. Part XI, Line 8 - Other Adjustments: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT $180,513 NET LOSS ON BENEFICIAL INTEREST IN EXTERNAL TRUSTS ($45,227) YEAR END INTEREST RATE SWAP ACCRUAL (LOSS) ($611,689) Part XII, Line 2d - Other Adjustments: SCHOLARSHIPS AND AWARDS ($8,466,671) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT $180,513 NET LOSS ON BENEFICIAL INTEREST IN EXTERNAL TRUSTS ($45,227) YEAR END INTEREST RATE SWAP ACCRUAL (LOSS) ($611,689) Part XII, Line 4b - Other Adjustments: RENTAL EXPENSES ($38,017) Part XIII, Line 2d - Other Adjustments: RENTAL EXPENSES- $38,017 Part XIII, Line 4b - Other Adjustments: SCHOLARSHIPS AND AWARDS- $8,466,671 1 1 1 BETHANY COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR, SEX, RELIGION, SEXUAL ORIENTATION, DISABILITY, AND NATIONAL OR ETHNIC ORIGIN TO ALL OF THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 ASSISTANCE CONSISTS OF STUDENT FINANCIAL ASSISTANCE RECEIVED FROM DEPARTMENT OF EDUCATTION, PELL SEOG AND COLLEGE WORK STUDY. 1 EUROPE PROGRAM SERVICES STUDY ABROAD PROGRAM 57669 0 0 57669 1 STUDENT SCHOLARSHIPS 830 8466671 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: STUDENTS RECEIVING SCHOLARSHIPS AND GRANTS FROM BETHANY COLLEGE ARE MONITORED TO ENSURE THEY MEET THE ACADEMIC REQUIREMENTS OR OTHER CRITERIA ASSOCIATED WITH THE RESPECTIVE AWARD. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 DR SCOTT D MILLER 250000 0 0 0 1242 0 109500 0 35194 0 395936 0 0 0 Part I, Line 7 DEFERRED COMPENSATION INCENTIVE PLAN. THE COUNTY COMMISSION OF BROOKE COUNTYWV 556000302 112512AA6 2008-05-15 20300000 REFINANCING & CAPITAL IMPROVEMENT 0 0 20300000 235643 3576201 2011 1 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 1 0 0 0 X 30779 X 58150 X 8 42591 X 1 43000 FMV X OTHER 1 1550 FMV X LIBRARY SOFTWARE 1 30000 FMV 4 0 1 1 Third Party Use: Part I, Line 32b: THE COLLEGE USES AN OUTSIDE BROKER TO SELL SECURITIES RECEIVED AS CONTRIBUTIONS. Form 990, Part VI, Section A, line 2 -BUSINESS RELATIONSHIP:DR.A.KEYS,JR, G.JORDAN, S.HOLZER; -BUSINESS RELATIONSHIP:G.NUTTING,J.COMPANION, S.HOLZER, G.JORDAN, A.KEYS,JR, R.NUTTING, T.SMOCK; -BUSINESS RELATIONSHIP:G.JORDAN, A.KEYS,JR, R.MCCANN, G.NUTTING, R.NUTTING; -BUSINESS RELATIONSHIP:J.COMPANION, G.NUTTING, R.NUTTING; -BUSINESS RELATIONSHIP:R.MCCANN, G.JORDAN; -BUSINESS RELATIONSHIP:S.HOLZER, G.JORDAN, A.KEYS,JR, G.NUTTING, R.NUTTING; -BUSINESS RELATIONSHIP:T.SMOCK, G.NUTTING, R.NUTTING; -BUSINESS RELATIONSHIP:REV.F.HARRIS,REV.W.ALLEN,REV.W.COLLINS,REV.J.LONG; Form 990, Part VI, Section B, line 11 THE FORM 990 IS REVIEWED IN DEPTH BY THE PRINCIPAL OFFICERS AND ACCOUNTING STAFF. IT IS ALSO FORWARDED TO ALL MEMBERS OF THE GOVERNING BODY FOR REVIEW PRIOR TO FILING. Form 990, Part VI, Section B, line 12c PURSUANT TO ARTICLE IX OF THE BY-LAWS OF THE BOARD OF TRUSTEES OF BETHANY COLLEGE, ALL BOARD MEMBERS AND OFFICERS OF BETHANY COLLEGE, AS WELL AS THE ASSISTANT SECRETARY TO THE BOARD ARE GIVEN A CONFLICT OF INTEREST DISCLOSURE SURVEY WHICH THEY MUST SUBMIT AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES (USUALLY IN MAY). THE RESPONSES ARE MONITORED BY THE ASSISTANT SECRETARY OF THE BOARD OF TRUSTEES. A LIST OF POTENTIAL CONFLICTS IS REPORTED TO THE PRESIDENT OF THE COLLEGE WHO IN TURN SUBMITS THE REPORT TO THE OFFICERS OF THE BOARD AND TO THE COLLEGE'S EXTERNAL AUDITING FIRM FOR REVIEW. Form 990, Part VI, Section B, line 15 THE PRESIDENT IS EVALUATED IN AN EXECUTIVE SESSION, AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES, ACCORDING TO WRITTEN OBJECTIVES, SPECIFIC AND GENERAL, DEVELOPED BY CONSULTATION BETWEEN THE PRESIDENT AND THE BOARD CHAIR AND PRESENTED TO AND APPROVED BY THE BOARD BEFORE THE OUTSET OF EACH ACADEMIC YEAR. THE PRESIDENT SHALL REPORT ON THESE GOALS AT EACH BOARD MEETING. THE PRESIDENT IS ALSO FORMALLY EVALUATED BY THE BOARD AT LEAST EVERY FOUR YEARS OR AT ANY TIME DEEMED DESIRABLE BY THE BOARD. THE EVALUATION IS CONDUCTED BY AN OUTSIDE EVALUATOR WHO WILL BE APPOINTED BY THE BOARD WITH THE APPROVAL OF THE PRESIDENT. THE EXECUTIVE COMMITTEE SERVES AS THE PRESIDENT'S COMPENSATION COMMITTEE, AND BASED ON THE ANNUAL EVALUATION, MEET IN EXECUTIVE SESSION TO REVIEW THE PRESIDENT'S COMPENSATION PACKAGE. THE PRESIDENT'S DUTIES AND TERMS OF EMPLOYMENT AND COMPENSATION FOR THE PRESIDENT OF THE COLLEGE ARE COMMITTED TO A 10-PAGE "EMPLOYMENT AGREEMENT" (CONTRACT). THE FIRST NINE PAGES OF THE CONTRACT CONTAIN SPECIFIC DUTIES AND TERMS. A ONE PAGE APPENDIX IS UPDATED EACH YEAR WITH SALARY AND ANY SPECIAL CONDITIONS. A SUPPLEMENTAL LETTER OUTLINES REIMBURSEMENT FOR SPOUSAL ACCOMMODATION EXPENSE. THE CONTRACT MIRRORS THE PRESIDENT'S CONTRACT AT HIS PRIOR INSTITUTION (PRESIDENT, WESLEY COLLEGE, 1997-2007). THAT CONTRACT WAS DEVELOPED BY AN INDEPENDENT HIGHER EDUCATION CONSULTING FIRM AND WITH THE ASSISTANCE OF THE INDEPENDENT LEGAL COUNSEL. AN UPDATED BETHANY COLLEGE VERSION WAS DRAFTED BY THE CHAIR OF THE BOARD AND THE COLLEGE'S GENERAL COUNSEL AND APPROVED BY THE PRESIDENT OF THE COLLEGE AND EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. ANNUAL COMPENSATION WAS SET AT A SMALL PERCENTAGE INCREASE OVER HIS PRIOR CONTRACT AT WESLEY. THE FULL BOARD RATIFIED DUTIES, TERMS AND COMPENSATION. PER THE CONTRACT, "THE EMPLOYEE'S (PRESIDENT) BASE SALARY FOR SUBSEQUENT YEARS WILL BE REVIEWED AND ESTABLISHED ANNUALLY, ON OR BEFORE MARCH 31 OF EACH CALENDAR YEAR, BY THE EXECUTIVE COMMITTEE OF THE BOARD AND, IF ADJUSTED, WILL BE ADJUSTED EFFECTIVE JULY 1 OF THAT YEAR. ADJUSTMENTS ARE AT THE SOLE DISCRETION OF THE EXECUTIVE COMMITTEE AND WILL BE CONDITIONED UPON THE BOARD'S SATISFACTION WITH THE EMPLOYEE'S PERFORMANCE AND THE COLLEGE'S FINANCIAL CONDITION." THE EXECUTIVE COMMITTEE ANNUALLY EVALUATES THE PERFORMANCE OF THE PRESIDENT. BEFORE MARCH 31 EACH YEAR, THE PRESIDENT RESPONDS IN WRITING TO A SET OF MUTUALLY AGREED UPON GOALS FOR THE PRIOR YEAR AND SUBMITS A DRAFT OF GOALS FOR THE UPCOMING YEAR. THE COMMITTEE PROVIDES CONSTRUCTIVE FEEDBACK TO BOTH. BASED ON THE EVALUATION, THE EXECUTIVE COMMITTEE SETS THE PRESIDENT'S COMPENSATION UTILIZING COMPARATIVE DATA FROM A VARIETY OF EXTERNAL SOURCES: -SURVEY DATA FOR PRESIDENTS OF COLLEGES WITH SIMILAR ASSETS PROVIDED BY THE ANNUAL COLLEGE UNIVERSITY AND PERSONNEL ASSOCIATION (CUPA). -A REVIEW OF INTERNAL REVENUE SERVICE 990 FORM DATA FOR PRESIDENTS OF PEER INSTITUTIONS. -COMPARATIVE DATA FOR PRESIDENTS OF NATIONAL LIBERAL ARTS COLLEGES PROVIDED BY THE ANNUAL CHRONICLE OF HIGHER EDUCATION SURVEY. Form 990, Part VI, Section C, line 19 CONFLICT OF INTEREST AND GOVERNING DOCUMENTS ARE MADE AVAILABLE THROUGH THE COLLEGE'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE OFFICE OF THE COLLEGE'S PRESIDENT. FORM 990, PART XI, QUESTION 2C OVERSIGHT OF FINANCIAL STATEMENT AUDIT THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SCHEDULE K, PART 1, LINE A THE REFUNDED BONDS WERE ISSUED ON THE FOLLOWING DATES: 8/16/04, 7/26/04, AND 3/1/07.