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Nonprofiteer
← WOFFORD COLLEGE

Form 990 for tax year 2022

Filed by WOFFORD COLLEGE.

Totals

Total revenue
$138,451,143
Total expenses
$147,041,472
Contributions and grants received
$13,878,273
Grants paid
$55,501,958
Program service revenue
$119,618,510
Investment income
$4,901,346
Other revenue
$53,014
Total assets, end of year
$680,972,147
Total liabilities, end of year
$97,236,585
Net assets or fund balances, end of year
$583,735,562
Program services expenses (Part IX)
$132,914,504
Management and general expenses
$11,278,893
Fundraising expenses
$2,848,075
Program service expenses (Part III)
$132,914,504

Program services were 90.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $83,076

  • 1e · Government grants (contributions)

    $256,908

  • 1f · All other contributions, gifts and grants

    $13,538,289

  • 1g · Noncash contributions included above

    $319,415

  • 2a · Program service revenue: TUITION

    total $90,829,892 · related or exempt $90,829,892

  • 2b · Program service revenue: AUXILIARY - ROOM AND BOARD

    total $23,399,869 · related or exempt $23,399,869

  • 2c · Program service revenue: ATHLETIC PROGRAM REVENUE

    total $2,574,564 · related or exempt $2,574,564

  • 2d · Program service revenue: CAMP REVENUE

    total $384,779 · related or exempt $384,779

  • 2e · Program service revenue: BOOKSTORE

    total $125,721 · related or exempt $125,721

  • 2f · All other program service revenue

    total $2,303,685 · related or exempt $2,303,685

  • 3 · Investment income

    total $5,549,952 · unrelated business $66,111 · excluded $5,483,841

  • 6a · Gross rents

    real property $32,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $32,000

  • 6d · Net rental income or loss

    total $32,000 · excluded $32,000

  • 7a · Gross sales of assets other than inventory

    securities $13,034,993

  • 7b · Less cost or other basis and sales expenses

    securities $13,683,599

  • 7c · Gain or loss

    securities -$648,606

  • 7d · Net gain or loss

    total -$648,606 · excluded -$648,606

  • 8a · Fundraising events: gross income

    $49,088

  • 8a · Fundraising events: contributions included on line 1c

    $83,076

  • 8b · Fundraising events: direct expenses

    $28,074

  • 8c · Net income from fundraising events

    total $21,014 · excluded $21,014

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $55,501,958 · program services $55,501,958

  • 5 · Compensation of officers, directors and key employees

    total $1,207,927 · program services $1,037,840 · management and general $117,711 · fundraising $52,376

  • 7 · Other salaries and wages

    total $32,859,946 · program services $28,262,621 · management and general $3,185,878 · fundraising $1,411,447

  • 8 · Pension plan contributions

    total $2,675,098 · program services $2,283,472 · management and general $267,811 · fundraising $123,815

  • 9 · Other employee benefits

    total $6,830,327 · program services $5,706,201 · management and general $761,585 · fundraising $362,541

  • 10 · Payroll taxes

    total $2,547,380 · program services $2,190,984 · management and general $246,977 · fundraising $109,419

  • 11f · Fees: investment management

    total $2,364,017 · management and general $2,364,017

  • 11g · Fees: other

    total $1,998,456 · program services $1,234,805 · management and general $677,048 · fundraising $86,603

  • 13 · Office expenses

    total $4,679,293 · program services $3,951,846 · management and general $537,327 · fundraising $190,120

  • 14 · Information technology

    total $1,559,376 · program services $1,093,657 · management and general $393,545 · fundraising $72,174

  • 16 · Occupancy

    total $5,660,777 · program services $5,501,623 · management and general $159,154

  • 17 · Travel

    total $2,571,570 · program services $2,301,171 · management and general $181,404 · fundraising $88,995

  • 20 · Interest

    total $2,198,159 · program services $2,137,018 · management and general $61,141

  • 22 · Depreciation, depletion and amortization

    total $10,504,182 · program services $10,190,825 · management and general $313,357

  • 23 · Insurance

    total $1,177,551 · program services $433,002 · management and general $744,549

  • 24a · Other expenses: FOOD SERVICES

    total $5,922,972 · program services $5,922,972

  • 24b · Other expenses: HOSPITALITY

    total $1,688,350 · program services $1,250,079 · management and general $181,977 · fundraising $256,294

  • 24c · Other expenses: ATHLETICS

    total $825,437 · program services $825,437

  • 24d · Other expenses: BOOKS/PERIODICALS

    total $745,325 · program services $743,825 · management and general $1,500

  • 24e · All other expenses

    total $3,523,371 · program services $2,345,168 · management and general $1,083,912 · fundraising $94,291

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,238,781 · end of year $5,512,944

  • 2 · Savings and temporary cash investments

    beginning of year $1,589,898 · end of year $914,893

  • 3 · Pledges and grants receivable

    beginning of year $14,999,343 · end of year $7,526,672

  • 4 · Accounts receivable

    beginning of year $6,951,487 · end of year $2,370,797

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,426,410 · end of year $1,647,382

  • 10a · Land, buildings and equipment: cost or other basis

    $413,194,530

  • 10b · Land, buildings and equipment: accumulated depreciation

    $168,357,302

  • 10c · Land, buildings and equipment, net

    beginning of year $242,177,288 · end of year $244,837,228

  • 11 · Investments: publicly traded securities

    beginning of year $101,222,709 · end of year $102,278,372

  • 12 · Investments: other securities

    beginning of year $265,137,618 · end of year $308,046,446

  • 13 · Investments: program-related

    beginning of year $6,261 · end of year $13,790

  • 15 · Other assets

    beginning of year $3,978,675 · end of year $7,823,623

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,231,429 · end of year $6,187,933

  • 19 · Deferred revenue

    beginning of year $12,993,688 · end of year $12,574,470

  • 20 · Tax-exempt bond liabilities

    beginning of year $67,426,072 · end of year $64,138,584

  • 21 · Escrow or custodial account liability

    beginning of year $85,804

  • 23 · Secured mortgages and notes payable

    beginning of year $4,682,000 · end of year $5,682,000

  • 25 · Other liabilities

    beginning of year $7,518,377 · end of year $8,653,598

  • 27 · Net assets without donor restrictions

    beginning of year $152,266,104 · end of year $150,536,356

  • 28 · Net assets with donor restrictions

    beginning of year $397,524,996 · end of year $433,199,206

Mission and programs · 2022

Mission

THE PURPOSE OF WOFFORD COLLEGE IS TO FUNCTION AS A LIBERAL ARTS INSTITUTION OF SUPERIOR QUALITY. ITS CHIEF CONCERN IS THE DEVELOPMENT OF AN INTELLECTUAL, SPIRITUAL, AND AESTHETIC ATMOSPHERE IN WHICH SERIOUS AND INQUIRING MINDS OF STUDENTS AND FACULTY ALIKE WILL BE CHALLENGED TO A COMMON SEARCH FOR TRUTH AND FREEDOM, WHEREVER THAT SEARCH MAY LEAD, AND IN WHICH EACH PERSON MAY BECOME AWARE OF HIS OR HER OWN INDIVIDUAL WORTH, WHILE ASPIRING TO HIGH STANDARDS OF LEARNING AND MORALITY. IN SUCH AN ENVIRONMENT ALL MEMBERS OF THE WOFFORD COMMUNITY SHOULD DEVELOP INTELLECTUAL CURIOSITY, INDEPENDENCE OF THOUGHT, MATURITY OF JUDGMENT, SELF-DISCIPLINE, RELIGIOUS FAITH, AND MORAL CHARACTER SO THAT THEY WILL BE EVER SENSITIVE TO THE DUTIES AND RESPONSIBILITIES OF GOOD CITIZENSHIP AND RENDER EFFECTIVE LEADERSHIP AND GENEROUS SERVICE TO THE COMMUNITIES IN WHICH THEY LIVE. THIS CONCEPT OF LIBERAL EDUCATION IS IN HARMONY WITH THE IDEALS OF THE UNITED METHODIST CHURCH, TO WHICH THE COLLEGE IS RELATED.

Activities or mission (Part I)

THE PURPOSE OF WOFFORD COLLEGE IS TO FUNCTION AS A LIBERAL ARTS INSTITUTION OF SUPERIOR QUALITY.

  • THE COLLEGE PROVIDED A LIBERAL ARTS EDUCATION TO APPROXIMATELY 1,822 STUDENTS FOR 2022-23, GRADUATING APPROXIMATELY 369 STUDENTS WITH BA OR BS DEGREES.THE COLLEGE IS COMMITTED TO AFFORDABILITY AND ACCESS TO STUDENTS OF ALL BACKGROUNDS. THE COLLEGE DISTRIBUTED IN EXCESS OF $55 MILLION IN FINANCIAL AID TO ASSIST STUDENTS IN MEETING THE FINANCIAL OBLIGATIONS OF ATTENDING THE INSTITUTION.

    Expenses $82,009,834 · Grants $55,501,958 · Revenue $90,829,892

  • THE COLLEGE PROVIDED AUXILIARY SERVICES FOR THE CONVENIENCE OF STUDENTS, FACULTY, STAFF AND THE COMMUNITY. SUCH AUXILIARY ENTERPRISES INCLUDE STUDENT HOUSING, ATHLETICS, INTRAMURAL SPORTS, AND THE WELLNESS CENTER.

    Expenses $50,904,670 · Revenue $28,788,618

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher A P Carpenter

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ashley Richardson Allen

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • William F Malambri III

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ronald A Andrews Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John E Bauknight IV

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas L Bower III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Katherine A Close

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Howard Coker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Justin A Converse

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • English C Flack

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jimmy I Gibbs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • B Shawan Gillians

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • David G Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Blanding U Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Wade P Keisler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy E Madden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jodie W McLean

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James C Meadors

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Craig D Melvin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Daniel B Morrison

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steven W Mungo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Gregory A O'Dell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Costa M Pleicones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dorothe Acee Thomas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Erin M Watson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joshua S Whitley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William H Willimon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rev Lisa N Yebuah

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joyce Payne Yete

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Margaret G Young

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nayef Samhat

    PRESIDENT

    Total calculated
    $804,948
    From this org
    $493,469
    From related orgs
    $0
    Other
    $311,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $493,469
    Bonus
    $0
    Other
    $0
    Deferred
    $297,000
    Nontaxable benefits
    $14,479
    Filer's total
    $804,948

  • Christopher Gardner

    CFO

    Total calculated
    $214,190
    From this org
    $180,658
    From related orgs
    $0
    Other
    $33,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,658
    Bonus
    $0
    Other
    $0
    Deferred
    $19,133
    Nontaxable benefits
    $14,399
    Filer's total
    $214,190

  • Tim Schmitz

    PROVOST

    Total calculated
    $188,789
    From this org
    $164,491
    From related orgs
    $0
    Other
    $24,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,491
    Bonus
    $0
    Other
    $0
    Deferred
    $16,333
    Nontaxable benefits
    $7,965
    Filer's total
    $188,789

  • David Beacham

    SR VP FOR ADMIN - RETIRED 7/1/22

    Total calculated
    $115,314
    From this org
    $87,164
    From related orgs
    $0
    Other
    $28,150
    Hours/week
    40

  • Josh Conklin

    HEAD FOOTBALL COACH (TERM 10/22)

    Total calculated
    $446,664
    From this org
    $406,970
    From related orgs
    $0
    Other
    $39,694
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $406,970
    Bonus
    $0
    Other
    $0
    Deferred
    $24,952
    Nontaxable benefits
    $14,742
    Filer's total
    $446,664

  • Jonathan McAuley

    HEAD BASKETBALL COACH

    Total calculated
    $258,633
    From this org
    $218,422
    From related orgs
    $0
    Other
    $40,211
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,422
    Bonus
    $0
    Other
    $0
    Deferred
    $22,739
    Nontaxable benefits
    $17,472
    Filer's total
    $258,633

  • Calhoun Kennedy

    VP OF PHILANTHROPHY & ENGAGEMENT

    Total calculated
    $237,514
    From this org
    $199,357
    From related orgs
    $0
    Other
    $38,157
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,357
    Bonus
    $0
    Other
    $0
    Deferred
    $20,772
    Nontaxable benefits
    $17,385
    Filer's total
    $237,514

  • Boyce Lawton

    DEAN OF STUDENT SUCCESS

    Total calculated
    $191,394
    From this org
    $168,144
    From related orgs
    $0
    Other
    $23,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,144
    Bonus
    $0
    Other
    $0
    Deferred
    $15,340
    Nontaxable benefits
    $7,910
    Filer's total
    $191,394

  • Richard Johnson

    DIRECTOR OF ATHLETICS

    Total calculated
    $180,321
    From this org
    $156,379
    From related orgs
    $0
    Other
    $23,942
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,379
    Bonus
    $0
    Other
    $0
    Deferred
    $16,032
    Nontaxable benefits
    $7,910
    Filer's total
    $180,321

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE COLLEGE PROVIDES HOUSING TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THEY CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. THIS BENEFIT IS NONTAXABLE.
PART I, LINE 4B
THE COLLEGE CONTRIBUTED $266,500 TO THE 457F PLAN FOR NAYEF SAMHAT, PRESIDENT DURING THE FYE JUNE 30, 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • SC CONFERENCE OF THE UNITED METHODIST CHURCH

    501(C)(3) · CHURCH · SC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER UNITRUST (1)

    T · CHARITABLE TRUST · SC

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349307157

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