Civic Intelligence

Warren Wilson College

990 • Fiscal year 2014 • EIN 56-0767736

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 17, 2014

PO Box 900028815-9000

(828) 298-3325

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

41st percentile

0.17x

Higher debt load relative to assets than 41% of similar nonprofits.

2014 filings • NTEE B • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

45th percentile

0.53x

Higher debt load relative to revenue than 45% of similar nonprofits.

2014 filings • NTEE B • $100M-$250M nonprofits • Source year 2014

Net Margin

6th percentile

-26%

Higher net margin than 6% of similar nonprofits.

2014 filings • NTEE B • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

31st percentile

$330,475

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

3rd percentile

-7.7%

Faster asset growth than 3% of similar nonprofits.

2014 filings • NTEE B • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

10th percentile

-14%

Faster revenue growth than 10% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2012 to 2014

Assets

Down

$105,909,538

Down $8,807,923 (-7.7%) from 2013

Net Assets

Down

$87,387,574

Down $7,456,061 (-7.9%) from 2013

Liabilities

Down

$18,521,964

Down $1,351,862 (-6.8%) from 2013

Revenue

$34,770,184

No earlier filing loaded for comparison.

Expenses

Up

$43,716,084

Up $2,738,301 (+6.7%) from 2013

Net Income

-$8,945,900

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $101,597,511Liabilities 2011: $18,563,082Net Assets 2011: $83,034,4292011Assets 2012: $108,610,397Liabilities 2012: $18,469,985Net Assets 2012: $90,140,4122012Assets 2013: $114,717,461Liabilities 2013: $19,873,826Net Assets 2013: $94,843,6352013Assets 2014: $105,909,538Liabilities 2014: $18,521,964Net Assets 2014: $87,387,5742014Assets 2015: $106,924,163Liabilities 2015: $18,479,235Net Assets 2015: $88,444,9282015Assets 2016: $104,213,246Liabilities 2016: $21,769,807Net Assets 2016: $82,443,4392016Assets 2017: $103,272,386Liabilities 2017: $20,376,262Net Assets 2017: $82,896,1242017Assets 2018: $103,083,557Liabilities 2018: $20,334,335Net Assets 2018: $82,749,2222018Assets 2019: $102,390,809Liabilities 2019: $20,782,554Net Assets 2019: $81,608,2552019Assets 2020: $103,027,241Liabilities 2020: $21,977,829Net Assets 2020: $81,049,4122020Assets 2021: $113,155,084Liabilities 2021: $23,115,652Net Assets 2021: $90,039,4322021Assets 2022: $106,662,699Liabilities 2022: $20,348,333Net Assets 2022: $86,314,3662022Assets 2023: $103,554,057Liabilities 2023: $21,361,609Net Assets 2023: $82,192,4482023Assets 2024: $106,559,244Liabilities 2024: $21,720,479Net Assets 2024: $84,838,7652024

Highlighted filing

2014

Assets$105,909,538
Liabilities$18,521,964
Net Assets$87,387,574

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2011: $38,016,6972011Revenue 2012: $47,155,374Expenses 2012: $38,013,093Net Income 2012: $9,142,2812012Expenses 2013: $40,977,7832013Revenue 2014: $34,770,184Expenses 2014: $43,716,084Net Income 2014: -$8,945,9002014Revenue 2015: $46,711,269Expenses 2015: $44,858,584Net Income 2015: $1,852,6852015Revenue 2016: $38,422,391Expenses 2016: $44,015,352Net Income 2016: -$5,592,9612016Revenue 2017: $38,328,415Expenses 2017: $40,235,464Net Income 2017: -$1,907,0492017Revenue 2018: $35,537,966Expenses 2018: $36,795,653Net Income 2018: -$1,257,6872018Revenue 2019: $38,593,260Expenses 2019: $40,516,684Net Income 2019: -$1,923,4242019Revenue 2020: $40,567,848Expenses 2020: $42,328,622Net Income 2020: -$1,760,7742020Revenue 2021: $40,910,763Expenses 2021: $41,457,479Net Income 2021: -$546,7162021Revenue 2022: $50,895,814Expenses 2022: $47,256,988Net Income 2022: $3,638,8262022Revenue 2023: $44,477,604Expenses 2023: $49,734,481Net Income 2023: -$5,256,8772023Revenue 2024: $52,164,694Expenses 2024: $50,458,116Net Income 2024: $1,706,5782024

Highlighted filing

2014

Revenue$34,770,184
Expenses$43,716,084
Net Income-$8,945,900
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$45,097,207
Mission and Program Overview

Mission

The mission of warren wilson college is to provide a distinctive undergraduate and graduate liberal arts education. Our undergraduate education combines academics, work, and service in a learning community committed to environmental responsibility, cross-cultural understanding, and the common good.

The mission of warren wilson college is to provide a distinctive undergraduate and graduate liberal arts education. The college's undergraduate education combines academics, work, and service in a learning community committed to environmental responsibility, cross-cultural understanding, and the common good. The college is an independent, accredited, four-year liberal arts college which awards the bachelor of science degree in a variety of disciplines, the bachelor of arts degree, and the master of fine arts degree in creative writing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$46,599,693$37,103,653▼ $9,496,040
Land, Buildings, and Equipment, Net$31,902,063$31,155,788▼ $746,275
Investments in Publicly Traded Securities$15,296,911$17,660,356▲ $2,363,445
Savings and Temporary Cash Investments$10,901,082$9,450,612▼ $1,450,470
Pledges and Grants Receivable$1,613,435$1,109,799▼ $503,636
Accounts Receivable$842,697$726,311▼ $116,386
Prepaid Expenses and Deferred Charges$339,199$321,451▼ $17,748
Inventories for Sale or Use$194,481$280,785▲ $86,304
Receivables From Officers Etc-$163,554-
Other Notes and Loans Receivable, Net$45,759$52,469▲ $6,710
Cash and Non-Interest-Bearing Accounts$1,850$750▼ $1,100
Total Assets$114,717,461$105,909,538▼ $8,807,923
Other Assets Total$6,980,291$7,884,010▲ $903,719
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,702,338$12,956,645▼ $745,693
Other Liabilities$4,666,240$4,007,617▼ $658,623
Deferred Revenue$862,129$943,468▲ $81,339
Accounts Payable and Accrued Expenses$643,119$614,234▼ $28,885
Total Liabilities$19,873,826$18,521,964▼ $1,351,862
Net Assets / Fund Balance
Permanently Rstr Net Assets$29,282,207$30,377,984▲ $1,095,777
Unrestricted Net Assets$31,054,695$28,781,647▼ $2,273,048
Temporarily Rstr Net Assets$34,506,733$28,227,943▼ $6,278,790
Total Net Assets Fund Balance$94,843,635$87,387,574▼ $7,456,061
Total Liabilities and Net Assets / Fund Balance$114,717,461$105,909,538▼ $8,807,923

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$26,836,194$27,826,003$54,662,197
Equipment$1,149,782$10,435,926$11,585,708
Land$2,964,494-$2,964,494
Other Land Buildings$205,318$431,362$636,680
Other Assets Org$25,763--
Other Securities$344,216--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$65,198,540$764,101▼ $3,697,211$2,032,241$58,421,985
2012$61,612,768$1,664,432▲ $4,936,937$1,756,779$65,198,540
2011$55,604,445$447,618▲ $8,050,656$1,366,630$61,612,768
2010$51,020,460$2,307,494▲ $4,549,816$1,253,582$55,604,446
2009$44,624,971$535,142▲ $7,925,351$1,123,964$51,020,460
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steven L Solnick Ex-officioPresidentFT$243,770$86,705$330,475
Jonathan EhrlichFormer VP Ad-$133,928$16,690$150,618
Jonathan EhrlichFormer VP Admin/fina-$124,736$25,882$150,618
Paula K GarrettVP AcademicFT$119,894$21,313$141,207
Richard BlomgrenVP for AdvanFT$116,319$23,954$140,273
Paul PerrineDean of StudFT$73,894$29,344$103,238
William PfeifferFormer Presi-$102,000-$102,000
William PfeifferFormer President-$102,000-$102,000
Ian RobertsonDean of WorkFT$79,367$17,520$96,887
Cathy KramerDean of ServFT$64,463$18,715$83,178
Dawn S MedleyVP EnrollmenFT$64,214$12,224$76,438
Alan RussellInterim VP aFT$61,574$2,812$64,386
Catherine Reid Ex-officioFaculty ReprFT$52,665$10,267$62,932
Katherine E Green Ex-officioStaff RepresFT$37,374$8,716$46,090
Douglas Orr JrFormer Presi-$45,982-$45,982
Douglas Orr JrFormer President-$45,982-$45,982

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo INC & AffiliatesFood Svc Contra-$1,821,784
H&m ConstructorsConstruction-$669,360
Daniels GraphicsPrinting/produc-$189,499
R&w INCConstruction-$156,881
Art & Science Group LLCConsulting-$148,600
Revenue and Support

Revenue Composition

Contributions and Grants
$6,459,876
Program Service Revenue
$32,166,519
Investment Income
$-5,175,862
Other Revenue
$1,319,651
All Other Contributions
$3,688,691
Change in Net Assets
$-8,945,900

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$162,622
Securities Publicly Traded3$51,317
Total Noncash Contributions4$213,939

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,114,602
Revenue Not Reported on Financial Statements
$-344,418
Revenue Not Reported on Form 990
$-10,126,174
Other Revenue Adjustments
$-344,418
Total Revenue per Audited Statements
$24,988,428
Total Revenue per Form 990
$34,770,184
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$19,617,783
Other Expenses$12,482,288
Grants and Similar Amounts Paid$11,616,013
Total Fundraising Expense$993,423
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,959,961$1,473,279$531,477$14,964,717
Grants to Domestic Individuals$11,292,603--$11,292,603
Depreciation Depletion$1,777,729$259,356-$2,037,085
Other Expenses$1,774,612$2,594,049$144,525$1,774,612
All Other Expenses$1,688,007--$1,688,007
Other Employee Benefits$1,227,716$116,122$77,286$1,421,124
Current Officers, Directors, Trustees, and Key Employees$396,707$763,210$139,406$1,299,323
Pension Plan Contributions$831,111$91,299$50,421$972,831
Payroll Taxes$740,344$169,136$50,308$959,788
Interest-$591,809-$591,809
Foreign Grants$323,410--$323,410
Total Functional Expenses$36,664,401$6,058,260$993,423$43,716,084

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$43,716,084
Expenses per Audited Statements$32,444,489
Total Expenses per Audited Statements$32,444,489
Expenses Not Reported on Financial Statements$11,271,595
Other Expense Adjustments$11,271,595
International Activity

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Donna ReadDomestic PartneSee BelowNo-
MAEVE O'CONNORPresident SpousSee BelowNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$163,554-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance Tuition & Room Deposits$1,714,992
Swap Instrument$1,519,251
Annuity Payable$517,214
Other$157,916
Obligations Under Capital Lease$98,244
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 4

In october 2013 the board of trustees resolved to amend the by-laws of the college to include faculty ex officio board members as follows: a) the president, the president of the alumni association, the chair of the council of visitors of the college, the chair of the church relations council and a representative from one of the presbyteries with which the college has a covenant relationship. B) former board chairs. C) one faculty trustee and one staff trustee. D)one student trustee. In october 2013 the board of trustees resolved to amend the by-laws of the college to include the following list of officers: a) president, b) vp of academic affairs and dean of the college, c) vp for administration and finance and cfo, d) vp for advancement, e) vp for enrollment and marketing, f) dean of students, g) dean of service, h) dean of work. In february 2014 the board of trustees approved a motion to amend the by- laws to read "no loans shall be made by the college to any of its trustees or officers of the board. Loans to officers of the college may be made as a condition of employment." in february 2014 the board of trustees aproved a motion to amend the by- laws to read "officers shall serve for a term of two years and until their successors have been elected."

Form 990, Page 6, Part VI, Line 11B

Upon receiving the draft copy of form 990, certain questions that arise are distributed to the appropriate staff. Key personnel and trustees review the form 990 before it is signed, including the vice president for administration and finance/chief financial officer and the controller, and the chair of the standing audit committee and the chair of the board. The full board is provided the opportunity to review the copy of the return without schedule b on its password-protected website, with a notice that the full schedule b is available for review in the controller's office.

Form 990, Page 6, Part VI, Line 12C

The college has a written conflict of interest policy, last amended on october 2, 2007, which specifies in detail those circumstances giving rise to a potential conflict of interest on the part of the college trustees. Pursuant to this policy, trustees must file an annual report specifying any relationships or activities which might possibly constitute a conflict. These reports are reviewed by the chair of the audit committee of the board as well as the chair of the board of trustees and any issues raised by a specific report are resolved according to the procedures outlined in the conflict of interest policy. A similar policy for employees of the college was approved at a staff forum on march 23, 2011 and defines conflict of interest and related terms and outlines a procedure for disclosure, reporting and compliance with the policy.

Form 990, Page 6, Part VI, Line 19

The college's current policy is to make its governing documents, conflict of interest policy and financial statements available to the general public on a case-by-case, need-to-know basis, reserving the right to withhold this information in situations deemed potentially harmful to the college. The college makes its financial statements available on various websites, and upon request by donors, foundations, and agencies.

Filing and Contact Details

Filer

EIN
56-0767736
Phone
8282983325

Signing Officer

Name
Stephanie Owens
Title
VP of Admin & Finance
Phone
8282983325
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven L Solnick President
Formed
1962
Legal Domicile
Nc
Voting Board Members
24
Independent Board Members
20
Employees
1,472
Volunteers
23

Preparer

Preparer
James a Lee CPA
Phone
8282745524
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of warren wilson college is to provide a distinctive undergraduate and graduate liberal arts education. The college's undergraduate education combines academics, work, and service in a learning community committed to environmental responsibility, cross-cultural understanding, and the common good. The college is an independent, accredited, four-year liberal arts college which awards the bachelor of science degree in a variety of disciplines, the bachelor of arts degree, and the master of fine arts degree in creative writing.

Form 990, Page 2, Part III, Line 4A

Educational program that enables students to think critically, obtain and evaluate information effectively, and communicate clearly, introducing them to a variety of ways by which humans acquire and use knowledge, and that provides students with opportunities to develop a breadth of understanding and to make connections among areas considered critical to a liberal arts curriculum, requiring that they demonstrate a depth of understanding through competence in one or more academic disciplines. Environmental studies is the major with the largest number of students, in keeping with another institutional objective, that of promoting environmental responsibility through education, campus operations, policy, and community outreach. The college also furnishes students with opportunities to understand and appreciate a variety of cultures, assisting them in developing awareness of the commonality of human problems and the diversity of the world. Toward these ends, the college sponsored a number of study abroad destinations in brazil, italy, turkey, cuba, costa rica, and indonesia to which 75 students traveled, led by the college's own faculty and staff. In addition, 21 students studied abroad independently for the summer, semester, or year with partner institutions or other u.s. Accredited programs in two different african nations, four latin american nations, seven european nations, three nations in asia, and two nations in australia oceana. The triad concept of education also leads students into considered reflection on the meaning and value of work and service to others, guiding students in examining their lives and articulating their beliefs and values, and provides them with opportunities for personal, physical, moral, and spiritual development. Towards these ends, the college organized 115 diverse work crews in the college work program during the year, with approximately 766 students participating in the fall of 2013 and 699 students participating in the spring of 2014. The annual college-wide work day yielded about 420 student participants and about 35 faculty/staff participants. In the service area triad, over 808 students completed 52,291 volunteer hours at 259 local, national, and international agencies during the year. For the college's annual service day, over 350 students, faculty, and staff participated at 18 sites.

Form 990, Part XI, Line 9

Scholarships/fellowships netted with tuition on financial -11,616,013 unrelated business cost of goods sold reported separately 344,418 scholarships/fellowships netted with tuition on financial 11,616,013 unrelated business cost of goods sold reported separately -344,418

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 1B

The college holds funds for a variety of academic, institutional, and student groups and accounts for additions to and distributions from these funds separately.

Schedule D, Page 2, Part V, Line 4

The college's endowment investment and spending policies work together in an attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of its endowment assets over the long term through additional real growth from investment returns. The investment policy seeks to achieve a long-term return objective of at least 6% above inflation over a rolling 3-5 year period, relying on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The spending policy for the current year calculates the disbursements from the endowment funds based on 7.3% of the average fair value of the prior 12 quarters. The increased draw above 5% was used to offset expenditures as appropriate within the operating budget, with the funds thus displaced used to create the strategic investment fund. The spending rate for restricted funds that did not displace other funds within the operating budget remained at 5%. The spending policy allows for the preservation of principal as well as capital appreciation.

Schedule D, Page 3, Part X

The college's policy is to evaluate all tax positions and to consult with experts to identify those that may be considered uncertain. All identified material tax positions will be assessed and measured by a reasonably possible threshold to determine if the benefit of an uncertain tax position should be recognized in the financial statements. Any change in the amount of a tax position will be recognized in the period the change occurs. The college is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on income derived from the unrelated business income activities. The college's federal returns of organization exempt from income tax (form 990) for 2013, 2012, and 2011 are subject to examination by the irs, generally for three years after they are filed. The college's federal exempt organization business income tax returns (form 990t) for 2013, 2012, and 2011 are subject to examination by the irs, generally for three years after they are filed.

Schedule D, Page 4, Part XI, Line 2D

Scholarships/fellowships netted with tuition on financial -11,616,013

Schedule D, Page 4, Part XI, Line 4B

Unrelated business cost of goods sold reported separately -344,418

Schedule D, Page 4, Part XII, Line 4B

Scholarships/fellowships netted with tuition on financial 11,616,013 unrelated business cost of goods sold reported separately -344,418

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IRS990/Form990PartVIISectionAGrp/TitleTxt0FACULTY REPR
IRS990/Form990PartVIISectionAGrp/TitleTxt1STAFF REPRES
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$107$21.7$84.8$52.2$50.5$1.71
2023Detailed filing. Detailed filing data is available for this year.$104$21.4$82.2$44.5$49.7$5.26
2022Detailed filing. Detailed filing data is available for this year.$107$20.3$86.3$50.9$47.3$3.64
2021Detailed filing. Detailed filing data is available for this year.$113$23.1$90.0$40.9$41.5$0.55
2020Detailed filing. Detailed filing data is available for this year.$103$22.0$81.0$40.6$42.3$1.76
2019Detailed filing. Detailed filing data is available for this year.$102$20.8$81.6$38.6$40.5$1.92
2018Detailed filing. Detailed filing data is available for this year.$103$20.3$82.7$35.5$36.8$1.26
2017Detailed filing. Detailed filing data is available for this year.$103$20.4$82.9$38.3$40.2$1.91
2016Detailed filing. Detailed filing data is available for this year.$104$21.8$82.4$38.4$44.0$5.59
2015Detailed filing. Detailed filing data is available for this year.$107$18.5$88.4$46.7$44.9$1.85
2014Detailed filing. Detailed filing data is available for this year.$106$18.5$87.4$34.8$43.7$8.95
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$115$19.9$94.8$41.0
2012Summary only. Only limited summary data is available for this year.$109$18.5$90.1$47.2$38.0$9.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$18.6$83.0$38.0