2024-02-05T10:37:05-06:00 2023-06-30 222027092 WITHUM SMITH BROWN PC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2022-07-01 042105777 EASTERN NAZARENE COLLEGE EAST 6177453000 23 EAST ELM AVENUE QUINCY MA 02170 ROBERT HARTMAN CFO/COO 6177453000 2024-02-02 1 ROBERT HARTMAN XXX-XX-XXXX 0 CHRISTOPHER PELLAND P01257104 6174711120 2024-02-02 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT HARTMAN 23 EAST ELM AVENUE QUINCY MA 02170 29428953 0 X WWW.ENC.EDU X 1920 MA SEE SCHEDULE O. 24 24 565 0 0 0 7984149 3526461 19867384 18322104 464997 175592 822097 571725 29138627 22595882 7407044 6753437 0 0 10874094 9986565 0 0 691170 9561788 10414236 27842926 27154238 1295701 -4558356 44505199 41751808 18451908 19432024 26053291 22319784 SEE SCHEDULE O. 0 0 17874649 6753437 18322104 COLLEGE GRANTS BACHELOR AND MASTER DEGREES TO QUALIFIED CANDIDATES UPON SATISFACTORY COMPLETION OF THEIR PROGRAM REQUIREMENTS. TO ACCOMPLISH THIS PURPOSE, THE COLLEGE ENROLLED 700 FULL AND PART-TIME UNDERGRADUATE AND GRADUATE STUDENTS, WITH A MAJORITY OF THE TRADITIONAL UNDERGRADUATE LIVING IN CAMPUS HOUSING. THE COLLEGE OPERATES A BOOKSTORE AND CAFETERIA FOR THE PRIMARY USE OF THE STUDENTS, FACULTY, AND STAFF. THE COLLEGE OPERATES HOUSING FACILITIES FOR STUDENTS, FACULTY, AND STAFF TO MEET THE EXISTING NEEDS FOR SUCH FACILITIES. 17874649 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 1 565 1 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X ROBERT HARTMAN 6177453705 23 EAST ELM AVENUE QUINCY MA 02170 X DELMY ALAS-CRUZ TRUSTEE 0.60 X 0 0 0 BRUCE BARNARD TRUSTEE 0.60 X 0 0 0 DAVID BOWSER TRUSTEE 0.60 X 0 0 0 RYAN CALHOUN TRUSTEE 0.60 X 0 0 0 JACK CONNELL TRUSTEE 0.60 X 0 0 0 DAN EDDINGS TRUSTEE 0.60 X 0 0 0 PHIL FULLER TRUSTEE 0.60 X 0 0 0 DOUG KITCHEN TRUSTEE 0.60 X 0 0 0 STEPHEN PERRY TRUSTEE 0.60 X 0 0 0 KEN STANFORD TRUSTEE 0.60 X 0 0 0 MARIKAE TOYE TRUSTEE 0.60 X 0 0 0 SAM VASSEL TRUSTEE 0.60 X 0 0 0 KERRY WILLIS TRUSTEE 0.60 X 0 0 0 STEPHEN WILSON TRUSTEE 0.60 X 0 0 0 KRISTA CASLER TRUSTEE 0.60 X 0 0 0 PAUL MACPHERSON TRUSTEE 0.60 X 0 0 0 RICHARD REYENGER TRUSTEE 0.60 X 0 0 0 RICHARD SIMONS TRUSTEE 0.60 X 0 0 0 MARK PRUGH VICE CHAIR 0.60 X X 0 0 0 LOUIS INGLAND TRUSTEE 0.60 X X 0 0 0 G WAYNE ELLIOTT JR TRUSTEE 0.60 X X 0 0 0 OLIVIA METCALF TRUSTEE 0.60 X X 0 0 0 MELODY ECKARDT CHAIRPERSON 0.60 X X 0 0 0 JAMES HEYWARD SECRETARY 0.60 X X 0 0 0 ROBERT MURPHY ASSISTANT PROFESSOR OF BUS 40.00 X 132935 0 18013 IAN SLATER VP OF STUDENT LIFE 40.00 X 111833 0 15750 TIMOTHY REES VP OF ENROLLMENT 40.00 X 109692 0 15750 SAMUEL CONNELL PRESIDENT 40.00 X 187843 0 5279 542303 0 54792 4 0 1 0 PLOWGUYS 1035 CAMBRIDGE ST STE 1 CAMBRIDGE MA 02141 RENOVATIONS, PAINTING, LAWN 232794 1 1035328 2491133 18106 3526461 TUITION AND FEES 900099 12310173 12310173 ROOM AND BOARD 900099 3427913 3427913 AUXILIARY ENTERPRISES 900099 2584018 2584018 18322104 165878 165878 305555 53821 251734 251734 251734 6725756 6716042 9714 9714 9714 43986 45127 -1141 -1141 25802 18081 7721 7721 MISCELLANEOUS REVENUE 900099 313411 313411 313411 22595882 18322104 0 747317 X 6753437 6753437 8130176 6457568 1345901 326707 1321750 735908 556434 29408 534639 422034 91360 21245 62906 62906 74476 74476 49151 49151 2847959 2047100 760729 40130 611087 417983 50996 142108 2366099 194664 2073570 97865 120784 120784 695928 141099 554829 423099 351275 47877 23947 26220 11026 13336 1858 553102 553102 1489651 1489651 300976 25736 275240 MISCELLANEOUS EXPENSES 555061 316819 230340 7902 BAD DEBTS 148817 148817 SCHOLARSHIPS 88920 88920 27154238 17874649 8588419 691170 3257630 3229630 927350 929206 106103 71380 4529552 2691812 254366 66253 51296 444225 509380 53941309 38531087 15607536 15410222 19130322 18507720 196819 336205 44505199 41751808 1930253 2510987 400403 70907 299258 308561 14321994 14901875 1500000 1500000 0 139694 18451908 19432024 X 7670387 4481888 18382904 17837896 26053291 22319784 44505199 41751808 -4558356 824849 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19100262 226478 3650439 1811154 579904 1916295 18669826 19431518 348060 2024940 1296146 38404 1369706 19100262 18753406 283820 4138524 1778174 74226 1891832 19431518 19545720 391740 1353341 1110114 132053 1295228 18753406 19548765 402755 1867319 1075117 39516 1158486 19545720 0.04660 0.69530 0.25810 0 0 704742 704742 11298211 10027698 1270513 17718049 10147503 7570546 23352707 18355886 4996821 867600 867600 15410222 REAL ESTATE HELD FOR INVESTMENT PURPOSES 14035563 F PUBLIC SECURITIES 1270212 F PRIVATELY HELD SECURITIES 4000 F MUTUAL FUNDS 3194364 F LIMITED PARTNERSHIP 3581 F 18507720 LEASE LIABILITY - FINANCING 139694 139694 X 23434788 824849 63208 888057 22546731 49151 49151 22595882 27168295 63208 63208 27105087 49151 49151 27154238 PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS ARE LARGELY COMPRISED OF SCHOLARSHIP FUNDS. THE GOAL OF THE COLLEGE'S ENDOWMENT SPENDING AND DISTRIBUTION POLICY IS TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT AND PROVIDE PREDICTABLE SUPPORT OF THESE SCHOLARSHIPS, AS WELL AS OPERATIONS. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" (MLTN) SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. TAX RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. ALTHOUGH THE COLLEGE IS EXEMPT FROM INCOME TAXES IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, IT MAY, HOWEVER, BE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 18,081. FUNDRAISING EVENT EXPENSE 45,127. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 18,081. FUNDRAISING EVENT EXPENSE 45,127. 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 COLLEGE'S NONDISCRIMINATORY POLICY IS PUBLISHED IN CATALOGS, FINANCIAL AID AND REGISTRATION INFORMATION, MAILINGS, AND EMPLOYEE HANDBOOK. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES CERTAIN FINANCIAL ASSISTANCE FROM GOVERNMENT AGENCIES TO PROVIDE AID TO STUDENTS FOR TUITION, BOOKS, AND OTHER EDUCATIONAL EXPENSES. HOMECOMING 43986 43986 30622 14505 43986 43986 30622 14505 45127 -1141 1 VARIOUS INSTITUTIONAL SCHOLARSHIPS 572 6646846 FMV PART I, LINE 2: THE COLLEGE FIRST INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY, REVIEWING BALANCES, AND CHECKING COMPLIANCE WTIH APPLICABLE AGENCY AND FEDERAL GUIDELINES. THE COLLEGE ALSO MAKES SURE THAT THE EXPENSE FALLS WITHIN THE REQUIRED CATEGORY AND BUDGETARY AMOUNT. THIS INCLUDES REVIEWING EXPENSE CATEGORIES, REBUDGETING OR TRANSFERRING EXPENSES AS NEEDED, AND DETERMINING IF THE AWARD WILL BE UNDERSPENT AT THE END OF THE BUDGET OR GRANT PERIOD. X X 0 0 0 0 0 0 0 0 0 SAMUEL CONNELL PRESIDENT 164543 0 0 0 23300 0 0 0 0 0 187843 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY REVENUE BONDS SERIES 2014 2014-07-16 23000000 DEBT REFINANCING AND CAPITAL PROJECTS 0 0 0 A 23000000 924096 300385 6803888 14971631 2015 1 0 1 1 A 0 0 0 1 0 0 0 0 0 A 1 FORM 990, PART I, LINE 1, ORGANIZATIONS MISSION EASTERN NAZARENE COLLEGE PROVIDES A TRANSFORMATIONAL EDUCATION THAT EQUIPS DIVERSE STUDENTS TO LEAD AND SERVE OUR WORLD AS AGENTS OF CHRIST'S LOVE AND TRUTH. FORM 990, PART VI, SECTION B, LINE 11B BOARD MEMBERS ARE GIVEN THE OPPORTUNITY TO REVIEW AND EXAMINE THE FORM 990 FOR ACCURACY. UPON APPROVAL BY THE CHAIRMAN OF THE BOARD AND THE FINANCE COMMITTEE CHAIRMAN, THIS FORM IS FILED. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO ATTEST ANNUALLY TO THEIR FAMILIARITY WITH THE COLLEGE'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 A DELEGATED COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DELIBERATING AND DECIDING ON AN APPROPRIATE COMPENSATION FOR THE PRESIDENT, VICE-PRESIDENTS, AND OTHER KEY EMPLOYEES. THIS COMMITTEE CONSISTS OF IMPARTIAL DECISION MAKERS; UTILIZES COMPARABILITY DATE; AND DOCUMENTS ALL DECISIONS AND DELIBERATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE DOES NOT MAKE ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE COLLEGE'S FINANCIAL STATEMENTS ARE REQUIRED TO BE ATTACHED TO THE COLLEGE'S STATE INFORMATIONAL RETURN (I.E. MASSACHUSETTS FORM PC) ON AN ANNUAL BASIS. BOTH THE COLLEGE'S STATE INFORMATIONAL RETURN AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AND UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 2,047,100. MANAGEMENT AND GENERAL EXPENSES 760,729. FUNDRAISING EXPENSES 40,130. TOTAL EXPENSES 2,847,959. FORM 990, PART XII, LINE 2C THE FINANCE COMITTEE ASSUMES OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS.