2023-11-13T08:02:26-07:00 2023-06-30 990 2022-07-01 570314415 SPARTANBURG METHODIST COLLEGE SPAR 8645874259 1750 Powell Mill Road Spartanburg SC 29301 Michael Crocker CFO 8645874259 2023-11-13 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Scott Cochran 1750 Powell Mill Rd Spartanburg SC 29301 26623269 0 X www.smcsc.edu X 1911 SC Spartanburg Methodist College is a private residential institution offering associate and baccalaureate degrees within the United Methodist Connection. At SMC, lives are transformed in a values-oriented, student-centered atmosphere in the Christian tradition that encourages academic excellence, intellectual exploration, social awareness, and character development within the liberal arts tradition. The academic program offers students the option of transferring to a four-year college or university for continued study or entering a career after graduation. The curriculum ranges from the basic liberal arts and transfer program to preparation for immediate entry into the job market through career track and baccalaureate degree options. The College offers to a wide variety of students the opportunity of higher education by providing a competent and dedicated faculty, distance learning options, financial assistance, work-study positions, and special support programs. 20 20 343 63 0 0 5453707 3091583 20452486 22837511 455391 456173 10350 19800 26371934 26405067 7352007 5995640 0 0 12536709 11737185 0 0 393368 8593087 9139290 28481803 26872115 -2109869 -467048 52317686 55722776 6853022 8756549 45464664 46966227 Spartanburg Methodist College will be the college of choice for residential or commuting students who desire the advantages of a church-related organization. We will offer motivated students a liberal arts education in preparation for the senior college experience and lifelong learning through relevant and challenging academic programs, campus leadership opportunities, and strong athletic programs. We will do this in an environment of community and caring, where each student is respected as an individual with unique needs and is encouraged to achieve his or her fullest potential. 0 0 16722875 5995640 17976083 Higher Education: SMC is a private, church-related (United Methodist) institution of higher education. The College provides instruction to approximately 1000 liberal arts students. 4498314 0 4861428 The College provides housing and food service to students for a fee and is a member of the NJCAA for athletic purposes. Auxiliary enterprises consist of the revenues and expenses related to these areas. 0 0 0 21221189 1 1 0 0 0 0 0 0 1 1 1 0 0 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 63 0 1 343 1 0 0 0 0 0 0 0 0 X 20 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Michael Crocker 8645874259 1750 Powell Mill Road Spartanburg SC 29301 William S Cochran President of the College 60 0 X 256090 0 28089 Courtney Shelton VP for Student & Professional Development 45 0 X 161550 0 11341 Martin Woods VP for Facilities 45 0 X 120290 0 20292 Eric McDonald CFO 45 0 X 120215 0 10395 Benjamin Maxwell VP for Enrollment 45 0 X 126000 0 1575 Jennifer Dillenger VP for Advancement 45 0 X 97957 0 20665 Lisa Ware VP for Marketing 45 0 X 105191 0 13368 Jason Womick VP for IT and Analytics 45 0 X 78793 0 26351 Michael Crocker CFO 45 0 X 81459 0 8965 Curt Laird Provost & Executive VP for Academic Affairs 45 0 X 78559 0 3913 John Moore Chair 1 0 X X 0 0 0 Jerry Gadsden Vice Chair 1 0 X X 0 0 0 Catherine Gramling Secretary 1 0 X X 0 0 0 Michael Allen Director 1 0 X 0 0 0 Andrew Babb Director 1 0 X 0 0 0 Pat Barber Director 1 0 X 0 0 0 Phillip Buchheit Director 1 0 X 0 0 0 Carol Burdette Director 1 0 X 0 0 0 Darrell Campbell Director 1 0 X 0 0 0 Lane Glaze Director 1 0 X 0 0 0 Marcos Gomez Director 1 0 X 0 0 0 Frank Lee Director 1 0 X 0 0 0 Kathleen McKinney Director 1 0 X 0 0 0 Evelyn Middleton Director 1 0 X 0 0 0 Charlita Atchison Director 1 0 X 0 0 0 Marilyn Murphy Director 1 0 X 0 0 0 Darryl Owings Director 1 0 X 0 0 0 Harriet Rucker Director 1 0 X 0 0 0 Clint Settle Director 1 0 X 0 0 0 Mary Teasley Director 1 0 X 0 0 0 1226104 0 144954 7 1 1 0 Ellucian Company LP 62578 Collections Ctr Drive Chicago IL 60693 Programming and Consulting 477494 Associated Receivables Funding PO Box 16253 Greenville SC 29606 Food Service/Janitorial 193661 Trane US Inc PO Box 406469 Atlanta GA 30384 HVAC Contractor 161793 Roebuck Wholesale Nursery & Landscapingn PO Box 1053 Roebuck SC 29376 Landscaping 149113 Mavin Construction LLC PO Box 1941 Greenville SC 29602 General Contractor 133000 6 0 0 0 0 55543 3036040 229131 3091583 Tuition 900099 17853765 17853765 0 0 Auxiliary 611710 4861428 4861428 0 0 Transcripts 900099 7987 7987 0 0 114331 114331 0 0 22837511 440594 0 0 440594 0 0 0 0 0 0 0 0 19800 0 0 0 19800 0 19800 0 0 19800 203138 30643 202559 15643 579 15000 15579 0 0 15579 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 26405067 22837511 0 475973 0 0 5995640 5995640 0 0 0 0 1433424 570981 743738 118705 0 0 0 0 8773022 7009918 1649442 113662 0 0 0 0 843618 627292 207508 8818 687121 514098 157526 15497 0 0 0 0 22977 0 22977 0 43250 0 43250 0 0 0 0 0 0 0 76780 0 76780 0 406603 384167 16364 6072 508350 122578 385772 0 1179975 1044770 131579 3626 785017 10003 775014 0 0 0 0 0 1010168 1004691 5477 0 440106 406199 30189 3718 0 0 0 0 53185 36941 15703 541 212172 0 212172 0 0 0 0 0 1471339 1177071 235414 58854 358566 73234 285332 0 Library Books and Audio Visuals 62878 62878 0 0 Food Service 719863 719863 0 0 Public Relations and Recruitment 68223 41149 18819 8255 Student Life and Services 276279 246978 29301 0 1443559 1172738 215201 55620 26872115 21221189 5257558 393368 1100 1100 2698662 7248708 85008 884771 186173 137431 0 0 0 0 70330 105948 20995 29802 281224 314190 48184433 26047561 23272347 22136872 24823617 24015872 0 0 0 0 0 0 878230 848082 52317686 55722776 334851 428031 0 0 219667 2817809 5846123 5129785 21418 20168 0 0 0 0 0 0 430963 360756 6853022 8756549 X 23802690 24124984 21661974 22841243 45464664 46966227 52317686 55722776 X -467048 1975446 0 0 0 -6835 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 25567054 70117 2337617 3016913 0 0 24957875 29411719 388326 -2876219 1356773 0 0 25567053 23502940 387123 6833470 1311814 0 0 29411719 23154246 737397 897099 1285802 0 0 23502940 22970853 372965 1039848 1229420 0 0 23154246 0.18 0.82 0 1 0 0 133207 133207 0 39058190 19946460 19111730 0 0 0 0 0 5186698 4239826 946872 0 3806338 1861275 1945063 22136872 0 Leases Payable 18878 Annuities Payable 341878 360756 X 22301258 1975446 0 0 0 1975446 20325812 76780 6002475 6079255 26405067 20799695 0 0 0 0 0 20799695 76780 5995640 6072420 26872115 Schedule D, Part IV, Line 2b The college maintains funds for various student/faculty groups. These funds are to be held by the College and can be accessed by the various groups as needed. Schedule D, Part V, Line 2b The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure. Schedule D, Part V, Line 4 The majority of the endowment funds are donor restricted to provide scholarship assistance to students. A few endowments are donor designated to support SMC programs and building maintenance. Schedule D, Part X, Line 2 The College follows the provisions of Financial Accounting Standards Board ("FASB") guidance on income taxes related to the accounting for uncertainty in income taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements by prescribing 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. The College's policy is to record a liability for any tax position taken 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, 2023 and 2022 and, accordingly, no liability has been accrued. Schedule D, Part XI, Line 4b Tuition discounts of $5,995,640 less the change in the value of split interest agreements of $64,258 less the change in valuation of pledges of -$71,093. Schedule D, Part XII, Line 4b Tuition Discounts of $5,995,640. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The statement is on the homepage of the Spartanburg Methodist website. Schedule E, Part I, Line 6 The College receives PELL, SEOG, work study, student loans, tuition grants, LIFE, and Lottery scholarship funds from government agencies for tuition. 1 Scholarships and grants awarded from Spartanburg Methodist College. 910 0 5995640 Schedule I, Part I, Line 2 Students submit the Federal FAFSA, which is reviewed to award scholarships and other tuition discounts. Students also receive awards based on service (athletics) as well as academic or extracurricular activities. The Director of Financial Aid and the VP of Enrollment maintain appropriate records to substantiate any financial assistance students receive. This information is subject to annual audit under OMB A-133 for any federal money the school receives. Awards are credited to students' accounts. Accounts are reconciled through the year. X 1 1 X X X 0 0 0 0 0 0 0 0 0 William S Cochran President of the College 256090 0 0 0 0 0 0 0 28089 0 284179 0 0 0 Schedule J, Part I, Line 1a The College provides membership for the President to a local social club. This membership is primarily for the benefit of the College as only individuals (not institutions) can be members. This gives the College access to use the club's facilities for College hosted events. This is treated as a non-taxable benefit. A Edu Facilities Authority 576000286 836896FZ8 2005-08-11 6000000 Construction and renovation of educational facilities 0 0 0 B Edu Facilities Authority 576000286 836896FZ8 2010-12-16 7000000 Construction and renovation of educational facilities 0 0 0 A 4750000 0 6000 0 0 0 154368 38901 0 0 0 2006 0 0 1 1 B 3055362 0 7000 0 0 0 113154 0 0 6886846 0 0 2012 0 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 1 1 0 0.0188 0 0.0188 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 X 1 202559 FMV X Various Gifts & Items 34 26572 FMV 0 0 1 0 Form 990, Part VI, Section A, Line 2 There is a family relationship between two board members Andrew Babb and Phillip Buchheit. Form 990, Part VI, Section B, Line 11b The IRS Form 990 is prepared by the Controller and reviewed by the CFO. A copy of the 990 is presented to the The Resource Stewardship Committee of the Board of Trustees for review and final approval. A copy of the approved 990 is provided to the entire board prior to filing. Form 990, Part VI, Section B, Line 12c The Conflict of Interest Statement is distributed annually at a board meeting. The Administrative Assistant to the President documents that all board members return a signed copy of the statement. In the event of a conflict, a board member will recuse him/herself on voting matters related to their conflicts. Form 990, Part VI, Section B, Line 15 (a) The College President's salary and benefits package is reviewed annually by the Executive Committee of the Board of Trustees. They consider the President's evaluation from all the Vice-Presidents, the manner and effectiveness with which the President has executed his duties, and the comparable compensation of the Presidents at similar institutions in the southeast. Discussions of the President's compensation are documented in the minutes. (b) The Officers of the College are evaluated by the President annually. These evaluations are written and reviewed in private consultation with each Officer. The salaries are based on market values for similar positions and comparable schools in the region and in keeping with the historic trends of the College. To obtain this data, the school purchases the CUPA salary study for colleges of similar size for comparison. Form 990, Part VI, Section C, Line 19 The President of the College receives and responds to all requests for the governing documents, conflict of interest policy, and financial statements. Form 990, Part XI, Line 9 Change in the value of split interest agreements of $64,258 plus the change in valuation of pledges of -$71,093.